Document:

Exhibit 4.9

 

STOCK PURCHASE AGREEMENT

THIS STOCK PURCHASE
AGREEMENT (this “Agreement”), dated as of the date on the signature page hereto, is entered into by and
between Anpulo Food, Inc., a British Virgin Islands company (the “Company”), and the purchasers identified on
the signature pages hereto (each a “Purchaser” and collectively, the “Purchasers”).

RECITALS:

 

WHEREAS, the Company
and the Purchasers are executing and delivering this Agreement in reliance upon an exemption from securities registration afforded
by the provisions of Regulation S (“Regulation S”) as promulgated by the United States Securities and Exchange
Commission (the “Commission”) under the Securities Act of 1933, as amended (the “1933 Act”);
and

 

WHEREAS, the Company
desires to offer and sell in a private offering up to 13,376,859 shares of the Company’s common stock, par value $0.001 per
share (each, a “Share,” and collectively, the “Shares”) at a price of $0.11 per Share (the
“Purchase Price”) for aggregate gross proceeds of up to $__________ (the “Offering”), which
Offering is being made on a “best efforts” basis. The Shares sold in this Offering will not be registered under the
1933 Act, in reliance upon an exemption from securities registration afforded by the provisions of Regulation S as promulgated
by the Commission under the 1933 Act. There is no minimum investment per Purchaser; and

 

WHEREAS,
the Company desires to enter into this Agreement to issue and sell the Shares and the Purchaser desires to purchase that number
of the Shares set forth on the signature page hereto on the terms and conditions set forth herein.

AGREEMENT:

NOW, THEREFORE,
in consideration of the mutual covenants and other agreements contained in this Agreement, the Company and the Purchaser hereby
agree as follows:

		1.	Purchase and Sale of the Shares.

 

     (a)
Subject to the terms set forth herein, the Purchaser hereby irrevocably subscribes for and agrees to purchase from the Company
that number of Shares as set forth on the signature page hereto at the Purchase Price. The aggregate Purchase Price is payable
by check or wire transfer of immediately available funds to the Company as described in Section 1(b).

      (b)There
is no minimum purchase that may be made by any prospective investor. The Company reserves the right to reject any purchase made
hereby, in whole or in part, in its sole discretion. The Company’s agreement with each Purchaser is a separate agreement
and the sale of the Shares to each Purchaser is a separate sale. Purchaser has hereby delivered and paid concurrently herewith
the aggregate Purchase Price for the number of Shares set forth on the signature page hereof in an amount required to purchase
and pay for such Shares, which amount has been paid in U.S. Dollars by wire transfer or check, to the order of “Anpulo Food,
Inc.”

    	

    	 

    

 

2.Closing.
The issuance and sale of the Shares shall occur on the closing date (the “Closing Date”)
which shall be the date that Purchaser funds representing the amount due to the Company from the Purchase Price of the Offering
is transmitted by wire transfer or otherwise to or for the benefit of the Company or on such later date as the Company agrees in
its sole discretion. The Offering period shall expire on the earlier of (i) the date upon which purchases for all of the Shares
offered hereby have been accepted; (ii) September 30, 2015; or (iii) the date upon which the Company elects to terminate the Offering.
The Company may in its sole discretion extend the Offering for an additional 90 days after the expiration of the Closing Date.
The Purchaser acknowledges and understands that this offering is being made on a “best efforts” basis. The Purchaser
hereby authorizes and directs the Company to return any funds for unaccepted purchase to the same account from which the funds
were drawn, without interest. 

The consummation of
the transactions contemplated herein shall take place at the offices of Szaferman Lakind Blumstein & Blader, PC, 101 Grovers
Mill Road, Suite 200, Lawrenceville, NJ 08648, on such date and time as the Purchasers and the Company may agree upon; provided,
that all of the conditions set forth in Section 6 hereof and applicable to the Closing (as defined below) shall have been fulfilled
or waived in accordance herewith. The Purchaser and the Company acknowledge and agree that the Company may consummate the sale
of additional Shares to the Purchaser, on the terms set forth in this Agreement and the other Transaction Documents, as defined
herein, at more than one closing (each referred to herein as a “Closing”).

3.Purchaser
Representations, Warranties and Covenants. Each Purchaser agrees, represents and warrants to the Company, severally and solely
with respect to itself and its purchase hereunder and not with respect to any of the other Purchasers, that:

(a)Organization and
Standing of the Purchaser. If such Purchaser is an entity, such Purchaser is a corporation, partnership or other entity duly
incorporated or organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization.

 

(b)Authorization and
Power. Such Purchaser has the requisite power and authority to enter into and perform this Agreement and the other Transaction
Documents and to purchase the Shares being sold to it hereunder. The execution, delivery and performance of this Agreement and
the other Transaction Documents by such Purchaser and the consummation by it of the transactions contemplated hereby and thereby
have been duly authorized by all necessary corporate or partnership action, and no further consent or authorization of such Purchaser
or its Board of Directors, stockholders, partners, members, as the case may be, is required. This Agreement and the other Transaction
Documents have been duly authorized, executed and delivered by such Purchaser and constitutes, or shall constitute when executed
and delivered, a valid and binding obligation of such Purchaser enforceable against such Purchaser in accordance with the terms
thereof.

 

(c)No Conflicts.
The execution, delivery and performance of this Agreement and the other Transaction Documents and the consummation by such Purchaser
of the transactions contemplated hereby and thereby or relating hereto do not and will not (i) result in a violation of such Purchaser’s
charter documents or bylaws or other organizational documents or (ii) conflict with, or constitute a default (or an event which
with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration
or cancellation of any agreement, indenture or instrument or obligation to which such Purchaser is a party or by which its properties
or assets are bound, or result in a violation of any law, rule, or regulation, or any order, judgment or decree of any court or
governmental agency applicable to such Purchaser or its properties (except for such conflicts, defaults and violations as would
not, individually or in the aggregate, have a material adverse effect on such Purchaser). Such Purchaser is not required to obtain
any consent, authorization or order of, or make any filing or registration with, any court or governmental agency in order for
it to execute, deliver or perform any of its obligations under this Agreement and the other Transaction Documents or to purchase
the Shares in accordance with the terms hereof, provided that for purposes of the representation made in this sentence, such Purchaser
is assuming and relying upon the accuracy of the relevant representations and agreements of the Company herein.

 

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(d)Acquisition for
Investment. The Purchaser is acquiring the Shares solely for its own account for the purpose of investment and not with a view
to or for resale in connection with a distribution. The Purchaser does not have a present intention to sell the Shares, nor a present
arrangement (whether or not legally binding) or intention to effect any distribution of the Shares to or through any person or
entity; provided, however, the Purchaser does not agree to hold the Shares for any minimum or other specific term
and reserves the right to dispose of the Shares at any time in accordance with Federal and state securities laws applicable to
such disposition. The Purchaser acknowledges that it is able to bear the financial risks associated with an investment in the Shares
and that it has been given full access to such records of the Company and the subsidiaries and to the officers of the Company and
the subsidiaries and received such information as it has deemed necessary or appropriate to conduct its due diligence investigation
and has sufficient knowledge and experience in investing in companies similar to the Company in terms of the Company’s stage
of development so as to be able to evaluate the risks and merits of its investment in the Company. The Purchaser further acknowledges
that the Purchaser understands the risks that the purchase of the Shares involves substantial risks.

 

(e)Information
on Company.  The Purchaser agrees, acknowledges and understands that the Purchaser
and its advisors, if any, have been furnished with all materials relating to the business, finances and operations of the Company,
and materials relating to the offer and sale of the Shares that have been requested by the Purchaser or its advisors (collectively
with this Agreement and any other ancillary documents, the “Transaction Documents”).
The Purchaser represents and warrants that the Purchaser and its advisors, if any, have been afforded the opportunity to ask questions
of the Company. The Purchaser agrees, acknowledges and understands that neither such inquiries nor any other due diligence investigation
conducted by the Purchaser or any of its advisors or representatives modify, amend or affect the Purchaser’s right to rely
on the Company’s representations and warranties contained herein.

Such Purchaser has received
in writing from the Company such other information concerning its operations, financial condition and other matters as such Purchaser
has requested in writing (the “Disclosure Materials”), and considered all factors such Purchaser deems material
in deciding on the advisability of investing in the Shares. Such Purchaser has relied on the Disclosure Materials in making its
investment decision.

 

(f)Opportunities for
Additional Information. The Purchaser acknowledges that the Purchaser has had the opportunity to ask questions of and receive
answers from, or obtain additional information from, the executive officers of the Company concerning the financial and other affairs
of the Company.

 

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(g)Non-U.S. Person.At
the time the Purchaser was offered the Shares, it was not, and at the date hereof, such Purchaser is not a “U.S.
Person” which is defined below:

 

(1) Any natural person
resident in the United States;

 

(2) Any partnership
or corporation organized or incorporated under the laws of the United States;

 

(3) Any estate of which
any executor or administrator is a U.S. person;

 

(4) Any trust of which
any trustee is a U.S. person;

 

(5) Any agency or branch
of a foreign entity located in the United States;

 

(6) Any non-discretionary
account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit or account of a
U.S. person;

 

(7) Any discretionary
account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated, or (if
an individual) resident of the United States; and

 

(8) Any partnership
or corporation if (i) organized or incorporated under the laws of any foreign jurisdiction and (ii) formed by a U.S. person principally
for the purpose of investing in securities not registered under the 1933 Act, unless it is organized or incorporated, and owned,
by accredited investors (as defined in Rule 501(a) of Regulation D promulgated under the 1933 Act) who are not natural persons,
estates or trusts.

 

“United States”
or “U.S.” means the United States of America, its territories and possessions, any State of the United States,
and the District of Columbia.

 

(h)Compliance with
1933 Act. Such Purchaser understands and agrees that the Shares have not been registered under the 1933 Act or any applicable
state securities laws, by reason of their issuance in a transaction that does not require registration under the 1933 Act (based
in part on the accuracy of the representations and warranties of the Purchaser contained herein), and that such Shares must be
held indefinitely unless a subsequent disposition is registered under the 1933 Act or any applicable state securities laws or is
exempt from such registration. The Purchaser acknowledges that the Purchaser is familiar with Rule 144 of the rules and regulations
of the Commission, as amended, promulgated pursuant to the 1933 Act (“Rule 144”), and that such person has been
advised that Rule 144 permits resales only under certain circumstances. The Purchaser understands that to the extent that Rule
144 is not available, the Purchaser will be unable to sell any Shares without either registration under the 1933 Act or the existence
of another exemption from such registration requirement. In any event, and subject to compliance with applicable securities laws,
the Purchaser may enter into lawful hedging transactions in the course of hedging the position they assume and the Purchaser may
also enter into lawful short positions or other derivative transactions relating to the Shares, and deliver the Shares, to close
out their short or other positions or otherwise settle other transactions, or loan or pledge the Shares, to third parties who in
turn may dispose of these Shares.

 

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(i)Purchased Shares
Legend. The Shares shall bear the following or similar legend:

 

“THE ISSUANCE AND SALE
OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR APPLICABLE
STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF (A) AN EFFECTIVE
REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL
SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR PURSUANT
TO RULE 144 OR RULE 144A UNDER SAID ACT, OR OTHERWISE. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION
WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

(j)Communication
of Offer. The offer to sell the Shares was directly communicated to such Purchaser by the Company. At no time was such Purchaser
presented with or solicited by any leaflet, newspaper or magazine article, radio or television advertisement, or any other form
of general advertising or solicited or invited to attend a promotional meeting otherwise than in connection and concurrently with
such communicated offer.

 

(k)No Governmental
Review. Such Purchaser understands that no United States federal or state agency or any other governmental agency has passed
on or made recommendations or endorsement of the Shares or the suitability of the investment in the Shares nor have such authorities
passed upon or endorsed the merits of the offering of the Shares.

 

(l)Correctness of
Representations. Such Purchaser represents that the foregoing representations and warranties are true and correct as of the
date hereof and, unless such Purchaser otherwise notifies the Company prior to the Closing Date, shall be true and correct as of
the Closing Date. The Purchaser understands that the Shares are being offered and sold in reliance on a transactional exemptions
from the registration requirement of Federal and state securities laws and the Company is relying upon the truth and accuracy of
the representations, warranties, agreements, acknowledgments and understandings of the Purchaser set forth herein in order to determine
the applicability of such exemptions and the suitability of the Purchaser to acquire the Shares.

 

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(m)Short Sales and
Confidentiality. Other than the transaction contemplated hereunder, the Purchaser has not directly or indirectly, nor has any
person acting on behalf of or pursuant to any understanding with the Purchaser, executed any disposition, including short sales
(but not including the location and/or reservation of borrowable shares of the Shares), in the securities of the Company during
the period commencing from the time that the Purchaser first received a term sheet from the Company or any other person setting
forth the material terms of the transactions contemplated hereunder. The Purchaser covenants that until such time as the transactions
contemplated by this Agreement are publicly disclosed by the Company as described in Section 5(c), the Purchaser will maintain
the confidentiality of all disclosures made to it in connection with this transaction (including the existence and terms of this
transaction). The Purchaser understands and acknowledges that the Commission currently takes the position that coverage of short
sales of shares of the Shares “against the box” prior to the effective date of the Registration Statement with the
Shares is a violation of Section 5 of the 1933 Act, as set forth in Item 65, Section 5 under Section A, of the Manual of Publicly
Available Telephone Interpretations, dated July 1997, compiled by the Office of Chief Counsel, Division of Corporation Finance.
Notwithstanding the foregoing, the Purchaser does not make any representation, warranty or covenant hereby that it will not engage
in short sales in the securities of the Company after the date that the transactions contemplated by this Agreement are first publicly
announced as described in Section 5(c). Notwithstanding the foregoing, in the case of a Purchaser that is a multi-managed investment
vehicle whereby separate portfolio managers manage separate portions of such Purchaser's assets and the portfolio managers have
no direct knowledge of the investment decisions made by the portfolio managers managing other portions of such Purchaser's assets,
the covenant set forth above shall only apply with respect to the portion of assets managed by the portfolio manager that made
the investment decision to purchase the Shares covered by this Agreement.

 

(n)Acknowledgement
of Risk. The Purchaser agrees, acknowledges and understands that its investment in the Shares involves a significant degree
of risk, including, without limitation that: (a) the Company is a development stage business with limited operating history and
requires substantial funds in addition to the proceeds from the sale of the Shares; (b) an investment in the Company is highly
speculative and only purchasers who can afford the loss of their entire investment should consider investing in the Company and
the Shares; (c) the Purchaser may not be able to liquidate its investment; (d) transferability of the Shares is extremely limited;
and (e) in the event of a disposition of the Shares, the Purchaser can sustain the loss of its entire investment. 

(o)No Brokers.
The Purchaser has not engaged, consented to or authorized any broker, finder or intermediary to act on its behalf, directly or
indirectly, as a broker, finder or intermediary in connection with the transactions contemplated by this Agreement. The Purchaser
hereby agrees to indemnify and hold harmless the Company from and against all fees, commissions or other payments owing to any
such person or firm acting on behalf of the Purchaser hereunder.

 

(p)Reliance
on Representations. The Purchaser agrees, acknowledges and understands that the Company and its counsel are entitled to rely
on the representations, warranties and covenants made by the Purchaser herein. Purchaser further represents and warrants that
this Stock Purchase Agreement does not contain any untrue statement or a material fact or omit any material fact concerning Purchaser.

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(q)Survival.
The foregoing representations and warranties shall survive for a period of one year after the Closing Date.

4.Company
Representations and Warranties. The Company represents and warrants to and agrees with each Purchaser that:

(a)Due Incorporation.
The Company is a corporation or other entity duly incorporated or organized, validly existing and in good standing under the laws
of British Virgin Islands and has the requisite corporate power to own its properties and to carry on its business as presently
conducted. The Company is duly qualified as a foreign corporation to do business and is in good standing in each jurisdiction where
the nature of the business conducted or property owned by it makes such qualification necessary, other than those jurisdictions
in which the failure to so qualify would not have a Material Adverse Effect. For purposes of this Agreement, a “Material
Adverse Effect” means any material adverse effect on the business, operations, properties, or financial condition of
the Company and its Subsidiaries individually, or in the aggregate and/or any condition, circumstance, or situation that would
prohibit or otherwise materially interfere with the ability of the Company to perform any of its obligations under this Agreement
in any material respect. For purposes of this Agreement, “Subsidiary” means, with respect to any entity at any
date, any corporation, limited or general partnership, limited liability company, trust, estate, association, joint venture or
other business entity of which more than 30% of (i) the outstanding capital stock having (in the absence of contingencies)
ordinary voting power to elect a majority of the board of directors or other managing body of such entity, (ii) in the case
of a partnership or limited liability company, the interest in the capital or profits of such partnership or limited liability
company or (iii) in the case of a trust, estate, association, joint venture or other entity, the beneficial interest in such
trust, estate, association or other entity business is, at the time of determination, owned or controlled directly or indirectly
through one or more intermediaries, by such entity.

(b)Outstanding
Stock. All issued and outstanding shares of capital stock and equity interests in the Company have been duly authorized and
validly issued and are fully paid and non-assessable.

(c)Authority;
Enforceability. The Transaction Documents have been duly authorized, executed and delivered by the Company and are valid and
binding agreements of the Company enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer,
reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights generally
and to general principles of equity. The Company has full corporate power and authority necessary to enter into and deliver the
Transaction Documents and to perform its obligations thereunder.

(d)Exchange
Act Documents. As of December 31, 2014, the Company had filed all reports, schedules, statements and other documents required
to be filed by it with the Securities and Exchange Commission pursuant to the reporting requirements of the Securities Exchange
Act of 1934, as amended and the rules and regulations promulgated thereunder.

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(e)No General
Solicitation. Neither the Company, nor any of its Affiliates, nor to its knowledge, any person acting on its or their behalf,
has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D/Regulation S under the
1933 Act) in connection with the offer or sale of the Shares.

(f)No Brokers.
Neither the Company nor any Subsidiary has taken any action which would give rise to any claim by any person for brokerage commissions,
finder’s fees or similar payments relating to this Agreement or the transactions contemplated hereby.

 

(g)Correctness of
Representations. The Company represents that the foregoing representations and warranties are true and correct as of the date
hereof in all material respects, and, unless the Company otherwise notifies the Purchasers prior to the Closing Date, shall be
true and correct in all material respects as of the Closing Date; provided, that, if such representation or warranty is made as
of a different date, in which case such representation or warranty shall be true as of such date.

(h)Survival.
The foregoing representations and warranties shall survive for a period of one year after the Closing Date.

5.Covenants
of the Company. The Company covenants and agrees with the Purchasers as follows:

(a)Use of Proceeds.
The proceeds of the Offering will be employed by the Company at its sole discretion.

(b)Governmental
Authorities. The Company shall duly observe and conform in all material respects to all valid requirements of governmental
authorities relating to the conduct of its business or to its properties or assets.

(c)Confidentiality/Public
Announcement. The Company agrees that except in connection with a registration statement or statements regarding the Purchaser’s
Shares or in correspondence with the Commission regarding same, it will not disclose publicly or privately the identity of the
Purchaser unless expressly agreed to in writing by a Purchaser or only to the extent required by law and then only upon not less
than three days prior notice to Purchaser.

(d)Non-Public
Information. The Company covenants and agrees that except for the Disclosure Materials and the Transaction Documents, neither
it nor any other person acting on its behalf will at any time provide any Purchaser or its agents or counsel with any information
that the Company believes constitutes material non-public information, unless prior thereto such Purchaser shall have agreed in
writing to accept such information. The Company understands and confirms that each Purchaser shall be relying on the foregoing
representations in effecting transactions in securities of the Company.

 

6. Closing Conditions.

(a)The obligation
hereunder of the Purchaser to acquire and pay for the Shares is subject to the satisfaction or waiver, at or before the Closing,
of each of the conditions set forth below. These conditions are for the Purchaser’s sole benefit and may be waived by the
Purchaser at any time in its sole discretion.

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(i)The representations
and warranties of the Company contained in this Agreement shall have been true and correct on the date of this Agreement and shall
be true and correct on the Closing Date as if given on and as of the Closing Date (except for representations given as of a specific
date, which representations shall be true and correct as of such date), and on or before the Closing Date the Company shall have
performed all covenants and agreements of the Company contained herein or in any of the other Transaction Documents required to
be performed by the Company on or before the Closing Date; and

 

(ii)The Transaction
Documents have been duly executed by the Company.

 

(b)The obligation hereunder
of the Company to issue and sell the Shares to the Purchaser is subject to the satisfaction or waiver, at or before the Closing,
of each of the conditions set forth below. These conditions are for the Company’s sole benefit and may be waived by the Company
at any time in its sole discretion.

 

(i)The representations
and warranties of the Purchaser in this Agreement and each of the other Transaction Documents to which the Purchaser is a party
shall be true and correct in all material respects as of the date when made and as of the Closing Date as though made at that time,
except for representations and warranties that are expressly made as of a particular date, which shall be true and correct in all
material respects as of such date;

 

(ii)The Purchase Price
for the Shares has been delivered to the Bank Account maintained by the Company; and

 

(iii)The Transaction
Documents to which the Purchaser is a party have been duly executed by the Purchaser.

 

7.Miscellaneous.

(a)Notices.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return
receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted
by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such party shall have specified
most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall be deemed
effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting facsimile machine,
at the address or number designated below (if delivered on a business day during normal business hours where such notice is to
be received), or the first business day following such delivery (if delivered other than on a business day during normal business
hours where such notice is to be received) or (b) on the second business day following the date of mailing by express courier service,
fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur. The addresses for
such communications shall be:

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If to the Company,
to:

Anpulo Food,
Inc.

Hangkonglu,
Xiangfengzhen

Laifengxian,
Hubei, China

Attn: Wenping
Luo

Phone: 718-628-8576

 

With a copy
to (which copy shall not constitute notice):

Szaferman Lakind
Blumstein & Blader, PC

101 Grovers Mill
Road, Suite 200

Lawrenceville,
NJ 08648

Attn: Gregg E.
Jaclin, Esq.

Fax: 609-275-4511

gjaclin@szaferman.com

 

If to the Purchasers:

To each of the addresses and facsimile
numbers listed on the signature pages of this Agreement.

(b) Entire
Agreement; Amendment. This Agreement and the other Transaction Documents contain the entire understanding and agreement of
the parties with respect to the matters covered hereby and, except as specifically set forth herein or in the Transaction Documents,
neither the Company nor any of the Purchasers makes any representations, warranty, covenant or undertaking with respect to such
matters and they supersede all prior understandings and agreements with respect to said subject matter, all of which are merged
herein. No provision of this Agreement nor any of the Transaction Documents may be waived or amended other than by a written instrument
signed by the Company and the holders of at least fifty percent (50%) of the total shares of common stock purchased in the Offering
and then outstanding (the “Majority Holders”), and no provision hereof may be waived other than by a written
instrument signed by the party against whom enforcement of any such waiver is sought. No such amendment shall be effective to the
extent that it applies to less than all of the holders of the Shares then outstanding. No consideration shall be offered or paid
to any person to amend or consent to a waiver or modification of any provision of any of the Transaction Documents unless the same
consideration is also offered to all of the parties to the Transaction Documents or holders of Shares, as the case may be.

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(c)Counterparts/Execution.
This Agreement may be executed in any number of counterparts and by the different signatories hereto on separate counterparts,
each of which, when so executed, shall be deemed an original, but all such counterparts shall constitute but one and the same instrument.
This Agreement may be executed by facsimile transmission, PDF, electronic signature or other similar electronic means with the
same force and effect as if such signature page were an original thereof.

(d)Law Governing
this Agreement. This Agreement will be governed by and construed and enforced under the internal laws of British Virgin Islands,
without reference to principles of conflict of laws or choice of laws.

(e)Specific
Enforcement, Consent to Jurisdiction. The Company and Purchasers acknowledge and agree that irreparable damage would occur
in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise
breached. It is accordingly agreed that the parties shall be entitled to seek an injunction or injunctions to prevent or cure breaches
of the provisions of this Agreement and to enforce specifically the terms and provisions hereof, this being in addition to any
other remedy to which any of them may be entitled by law or equity. Subject to Section 7(d) hereof, the Company and the Purchasers
hereby irrevocably waive, and agree not to assert in any such suit, action or proceeding, any claim that it is not personally subject
to the jurisdiction in British Virgin Islands of such court, that the suit, action or proceeding is brought in an inconvenient
forum or that the venue of the suit, action or proceeding is improper. Nothing in this Section shall affect or limit any right
to serve process in any other manner permitted by law.

(f)Damages.
In the event the Purchaser is entitled to receive any liquidated damages pursuant to the Transactions Documents, the Purchaser
may elect to receive the greater of actual damages or such liquidated damages.

(g)Calendar
Days. All references to “days” in the Transaction Documents shall mean calendar days unless otherwise stated.
The terms “business days” and “trading days” shall mean days that the New York Stock Exchange is
open for trading for three or more hours. Time periods shall be determined as if the relevant action, calculation or time period
were occurring in New York City. Any deadline that falls on a non-business day in any of the Transaction Documents shall be automatically
extended to the next business day and interest, if any, shall be calculated and payable through such extended period.

(h)Captions:
Certain Definitions. The captions of the various sections and paragraphs of this Agreement have been inserted only for the
purposes of convenience; such captions are not a part of this Agreement and shall not be deemed in any manner to modify, explain,
enlarge or restrict any of the provisions of this Agreement. As used in this Agreement the term “person” shall
mean and include an individual, a partnership, a joint venture, a corporation, a limited liability company, a trust, an unincorporated
organization and a government or any department or agency thereof.

(i)Severability.
In the event that any term or provision of this Agreement shall be finally determined to be superseded, invalid, illegal or otherwise
unenforceable pursuant to applicable law by an authority having jurisdiction and venue, that determination shall not impair or
otherwise affect the validity, legality or enforceability: (i) by or before that authority of the remaining terms and provisions
of this Agreement, which shall be enforced as if the unenforceable term or provision were deleted, or (ii) by or before any other
authority of any of the terms and provisions of this Agreement.

[Signature Pages Follow]

 

    	11 

    	 

    

SIGNATURE PAGE TO STOCK PURCHASE
AGREEMENT

 

Please acknowledge your
acceptance of the foregoing Stock Purchase Agreement with Anpulo Food, Inc. by signing and returning a copy to the Company whereupon
it shall become a binding agreement.

 

NUMBER OF SHARES   x $0.11 =   (the “Purchase
Price”) 

 

		 	
	Signature	 	Signature (if purchasing jointly)
	 	 	 
		 	
	Name Typed or Printed	 	Name Typed or Printed
	 	 	 
		 	
	Entity Name	 	Entity Name
	 	 	 
		 	
	Address	 	Address
	 	 	 
		 	
	City, State and Zip Code	 	City, State and Zip Code
	 	 	 
		 	
	Telephone - Business	 	Telephone - Business
	 	 	 
		 	
	Telephone – Residence	 	Telephone – Residence
	 	 	 
		 	
	Facsimile – Business	 	Facsimile - Business
	 	 	 
		 	
	Facsimile – Residence	 	Facsimile – Residence
	 	 	 
		 	
	Tax ID # or Social Security #	 	Tax ID # or Social Security #
	 	 	 

 

Name in which securities should be issued:

Dated:___________, 201__

    	12 

    	 

    

 

This Stock Purchase
Agreement is agreed to and accepted as of the date first written above.

	 	Anpulo Food,
Inc.
	 	 
	 	By: 	
	 	 	Name: Wenping
Luo
Title: Chief Executive Officer

 

 

 

    	13Exhibit 10.19

 

SECURITIES
PURCHASE AGREEMENT

 

This
SECURITIES PURCHASE AGREEMENT (the “Agreement”), dated as of March 10, 2016, by and between MANTRA VENTURE
GROUP, LTD., incorporated in British Columbia, with headquarters located at 1562 128th Street, Surrey BC Canada,
V4A 3T7 (the “Company”), and Old Main Capital, LLC, a Florida limited liability company, with its address at
3109 Stirling Road, Suite 100, Fort Lauderdale, FL 33312 (the “Buyer”).

 

WHEREAS:

 

A.           The Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration
afforded by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the “SEC”)
under the Securities Act of 1933, as amended (the “1933 Act”);

 

B.            Buyer desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement
a 10% convertible note of the Company, in the form attached hereto as Exhibit A, in the aggregate principal amount of US$166,666.00
(together with any note(s) issued in replacement thereof or as a dividend thereon or otherwise with respect thereto in accordance
with the terms thereof, the “Note”), convertible into shares of the Company’s common stock (the “Common
Stock”), upon the terms and subject to the limitations and conditions set forth in such Note; and

 

C.            The Buyer wishes to purchase, upon the terms and conditions stated in this Agreement, such principal amount of Note as is set
forth immediately below its name on the signature pages hereto.

 

NOW
THEREFORE, the Company and the Buyer severally (and not jointly) hereby agree as follows:

 

1.            PURCHASE
AND SALE OF NOTE.

 

a.      
Purchase of Note. On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer agrees
to purchase from the Company such principal amount of Note as is set forth immediately below the Buyer’s name on the signature
pages hereto, subject to the express terms of the Note.

 

b.     
Form of Payment. On the Closing Date (as defined below), the Buyer shall pay the purchase price for the first tranche of
the Note, which is equal to $20,000.00 (the “First Tranche Purchase Price”) by wire transfer of immediately available
funds, in accordance with the Company’s written wiring instructions, against delivery of the Note, and (i) the Company shall
deliver such duly executed Note on behalf of the Company, to the Buyer. The Buyer may fund additional tranches under the Note,
pursuant to the terms and conditions of the Note and in accordance with the Company’s written wiring instructions.

 

    	 	1	 

     

    

 

c.      Closing
Date. Subject to the satisfaction (or written waiver) of the conditions thereto set forth in Section 6 and Section 7 below,
the date and time of the issuance and sale of the Note pursuant to this Agreement (the “Closing Date”) shall be 5:00
P.M., Eastern Standard Time on or about March 10, 2016, or such other mutually agreed upon time. The closing of the transactions
contemplated by this Agreement (the “Closing”) shall occur on the Closing Date at such location as may be agreed to
by the parties.

 

2.            REPRESENTATIONS
AND WARRANTIES OF THE BUYER. The Buyer represents and warrants to the Company that:

 

a.      
Investment Purpose. As of the date hereof, the Buyer is purchasing the Note and the shares of Common Stock issuable upon
conversion of or otherwise pursuant to the Note (including, without limitation, such additional shares of Common Stock, if any,
as are issuable (i) on account of interest on the Note or (ii) under any other provision in the Note, such shares of Common Stock
being collectively referred to herein as the “Conversion Shares” and, collectively with the Note, the “Securities”)
for its own account and not with a present view towards the public sale or distribution thereof, except pursuant to sales registered
or exempted from registration under the 1933 Act; provided, however, that by making the representations herein, the Buyer does
not agree to hold any of the Securities for any minimum or other specific term and reserves the right to dispose of the Securities
at any time in accordance with or pursuant to a registration statement or an exemption under the 1933 Act.

 

b.     
Accredited Investor Status. The Buyer is an “accredited investor” as that term is defined in Rule 501(a) of
Regulation D (an “Accredited Investor”).

 

c.      
Reliance on Exemptions. The Buyer understands that the Securities are being offered and sold to it in reliance upon specific
exemptions from the registration requirements of United States federal and state securities laws and that the Company is relying
upon the truth and accuracy of, and the Buyer’s compliance with, the representations, warranties, agreements, acknowledgments
and understandings of the Buyer set forth herein in order to determine the availability of such exemptions and the eligibility
of the Buyer to acquire the Securities.

 

d.     
Information. The Buyer and its advisors, if any, have been, and for so long as the Note remain outstanding will continue
to be, furnished with all materials relating to the business, finances and operations of the Company and materials relating to
the offer and sale of the Securities which have been requested by the Buyer or its advisors. The Buyer and its advisors,
if any, have been, and for so long as the Note remain outstanding will continue to be, afforded the opportunity to ask questions
of the Company. Notwithstanding the foregoing, the Company has not disclosed to the Buyer any material nonpublic information and
will not disclose such information unless such information is disclosed to the public prior to or promptly following such disclosure
to the Buyer. Neither such inquiries nor any other due diligence investigation conducted by Buyer or any of its advisors or representatives
shall modify, amend or affect Buyer’s right to rely on the Company’s representations and warranties contained in Section
3 below. The Buyer understands that its investment in the Securities involves a significant degree of risk. The Buyer is not aware
of any facts that may constitute a breach of any of the Company's representations and warranties made herein.

 

    	 	2	 

     

    

 

e.      
Governmental Review. The Buyer understands that no United States federal or state agency or any other government or governmental
agency has passed upon or made any recommendation or endorsement of the Securities.

 

f.      
Transfer or Re-sale. The Buyer understands that (i) the sale or re-sale of the Securities has not been and is not being
registered under the 1933 Act or any applicable state securities laws, and the Securities may not be transferred unless (a) the
Securities are sold pursuant to an effective registration statement under the 1933 Act, (b) the Buyer shall have delivered to
the Company, at the cost of the Buyer, an opinion of counsel that shall be in form, substance and scope customary for opinions
of counsel in comparable transactions to the effect that the Securities to be sold or transferred may be sold or transferred pursuant
to an exemption from such registration, which opinion shall be accepted by the Company, (c) the Securities are sold or transferred
to an “affiliate” (as defined in Rule 144 promulgated under the 1933 Act (or a successor rule) (“Rule 144”))
of the Buyer who agrees to sell or otherwise transfer the Securities only in accordance with this Section 2(f) and who is an Accredited
Investor, (d) the Securities are sold pursuant to Rule 144, or (e) the Securities are sold pursuant to Regulation S under the
1933 Act (or a successor rule) (“Regulation S”), and the Buyer shall have delivered to the Company, at the cost of
the Buyer, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in corporate transactions,
which opinion shall be accepted by the Company; (ii) any sale of such Securities made in reliance on Rule 144 may be made only
in accordance with the terms of said Rule and further, if said Rule is not applicable, any re-sale of such Securities under circumstances
in which the seller (or the person through whom the sale is made) may be deemed to be an underwriter (as that term is defined
in the 1933 Act) may require compliance with some other exemption under the 1933 Act or the rules and regulations of the SEC thereunder;
and (iii) neither the Company nor any other person is under any obligation to register such Securities under the 1933 Act or any
state securities laws or to comply with the terms and conditions of any exemption thereunder (in each case).

 

    	 	3	 

     

    

 

g.     
Legends. The Buyer understands that the Note, and, until such time as the Conversion Shares have been
registered under the 1933 Act may be sold pursuant to Rule 144 or Regulation S without any restriction as to the number of securities
as of a particular date that can then be immediately sold, the Conversion Shares may bear a restrictive legend in substantially
the following form (and a stop-transfer order may be placed against transfer of the certificates for such Securities):

 

“NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT.

 

The
legend set forth above shall be removed and the Company shall issue a certificate without such legend to the holder of any Security
upon which it is stamped, if, unless otherwise required by applicable securities laws, (a) such Security is registered for sale
under an effective registration statement filed under the 1933 Act or otherwise may be sold pursuant to Rule 144 or Regulation
S without any restriction as to the number of securities as of a particular date that can then be immediately sold, or (b) such
holder provides the Company with an opinion of counsel, in form, substance and scope customary for opinions of counsel in comparable
transactions, to the effect that a public sale or transfer of such Security may be made without registration under the 1933 Act,
which opinion shall be accepted by the Company so that the sale or transfer is effected. The Buyer agrees to sell all Securities,
including those represented by a certificate(s) from which the legend has been removed, in compliance with applicable prospectus
delivery requirements, if any.

 

h.     Authorization; Enforcement. This Agreement has been duly and validly authorized. This Agreement has been duly executed
and delivered on behalf of the Buyer, and this Agreement constitutes a valid and binding agreement of the Buyer enforceable in
accordance with its terms.

 

i.       Residency. The Buyer is a resident of the jurisdiction set forth immediately below the Buyer’s name on the signature
pages hereto.

 

    	 	4	 

     

    

 

3.            REPRESENTATIONS
AND WARRANTIES OF THE COMPANY. The Company represents and warrants to the Buyer that:

 

a.      
Organization and Qualification. The Company and each of its Subsidiaries (as defined below), if any,
is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction in which it is incorporated,
with full power and authority (corporate and other) to own, lease, use and operate its properties and to carry on its business
as and where now owned, leased, used, operated and conducted. Schedule 3(a) sets forth a list of all of the Subsidiaries of the
Company and the jurisdiction in which each is incorporated. The Company and each of its Subsidiaries is duly qualified as a foreign
corporation to do business and is in good standing in every jurisdiction in which its ownership or use of property or the nature
of the business conducted by it makes such qualification necessary except where the failure to be so qualified or in good standing
would not have a Material Adverse Effect. “Material Adverse Effect” means any material adverse effect on the business,
operations, assets, financial condition or prospects of the Company or its Subsidiaries, if any, taken as a whole, or on the transactions
contemplated hereby or by the agreements or instruments to be entered into in connection herewith. “Subsidiaries”
means any corporation or other organization, whether incorporated or unincorporated, in which the Company owns, directly or indirectly,
any equity or other ownership interest.

 

b.      Authorization;
Enforcement. (i) The Company has all requisite corporate power and authority to enter into and perform this Agreement,
the Note and to consummate the transactions contemplated hereby and thereby and to issue the Securities, in accordance with
the terms hereof and thereof, (ii) the execution and delivery of this Agreement, the Note by the Company and the
consummation by it of the transactions contemplated hereby and thereby (including without limitation, the issuance of the
Note and the issuance and reservation for issuance of the Conversion Shares issuable upon conversion or exercise thereof)
have been duly authorized by the Company’s Board of Directors and no further consent or authorization of the Company,
its Board of Directors, or its shareholders is required, (iii) this Agreement has been duly executed and delivered by the
Company by its authorized representative, and such authorized representative is the true and official representative with
authority to sign this Agreement and the other documents executed in connection herewith and bind the Company accordingly,
and (iv) this Agreement constitutes, and upon execution and delivery by the Company of the Note, each of such instruments
will constitute, a legal, valid and binding obligation of the Company enforceable against the Company in accordance with its
terms.

 

    	 	5	 

     

    

 

c.      Capitalization. Except as disclosed in the SEC Documents, no shares are reserved for issuance pursuant to the Company’s
stock option plans, no shares are reserved for issuance pursuant to securities (other than the Securities) exercisable for, or
convertible into or exchangeable for shares of Common Stock. All of such outstanding shares of capital stock are, or upon issuance
will be, duly authorized, validly issued, fully paid and non-assessable. No shares of capital stock of the Company are subject
to preemptive rights or any other similar rights of the shareholders of the Company or any liens or encumbrances imposed through
the actions or failure to act of the Company.

 

d.     
Issuance of Shares. The Conversion Shares are duly authorized and reserved for issuance and, upon conversion of the Note,
in accordance with its respective terms, will be validly issued, fully paid and non-assessable, and free from all taxes, liens,
claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights or other similar rights
of shareholders of the Company and will not impose personal liability upon the holder thereof.

 

e.      
Acknowledgment of Dilution. The Company understands and acknowledges the potentially dilutive effect to the Common Stock
upon the issuance of the Conversion Shares upon conversion of the Note. The Company further acknowledges that its obligation to
issue Conversion Shares upon conversion of the Note in accordance with this Agreement, the Note is absolute and unconditional
regardless of the dilutive effect that such issuance may have on the ownership interests of other shareholders of the Company.

 

f.       No
Conflicts. The execution, delivery and performance of this Agreement and the Note by the Company and the consummation by
the Company of the transactions contemplated hereby and thereby (including, without limitation, the issuance and
reservation for issuance of the Conversion Shares) will not (i) conflict with or result in a violation of any provision of
the Certificate of Incorporation or By-laws, or (ii) violate or conflict with, or result in a breach of any provision of, or
constitute a default (or an event which with notice or lapse of time or both could become a default) under, or give to others
any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture, patent, patent license or
instrument to which the Company or any of its Subsidiaries is a party, or (iii) result in a violation of any law, rule,
regulation, order, judgment or decree (including federal and state securities laws and regulations and regulations of any
self-regulatory organizations to which the Company or its securities are subject) applicable to the Company or any of its
Subsidiaries or by which any property or asset of the Company or any of its Subsidiaries is bound or affected (except for
such conflicts, defaults, terminations, amendments, accelerations, cancellations and violations as would not, individually or
in the aggregate, have a Material Adverse Effect). Neither the Company nor any of its Subsidiaries is in violation of its
Certificate of Incorporation, By-laws or other organizational documents and neither the Company nor any of its Subsidiaries
is in default (and no event has occurred which with notice or lapse of time or both could put the Company or any of its
Subsidiaries in default) under, and neither the Company nor any of its Subsidiaries has taken any action or failed to take
any action that would give to others any rights of termination, amendment, acceleration or cancellation of, any agreement,
indenture or instrument to which the Company or any of its Subsidiaries is a party or by which any property or assets
of the Company or any of its Subsidiaries is bound or affected, except for possible defaults as would not, individually or in
the aggregate, have a Material Adverse Effect. The businesses of the Company and its Subsidiaries, if any, are not being
conducted, and shall not be conducted so long as the Buyer owns any of the Securities, in violation of any law, ordinance or
regulation of any governmental entity. Except as specifically contemplated by this Agreement and as required under the 1933
Act and any applicable state securities laws, the Company is not required to obtain any consent, authorization or order of,
or make any filing or registration with, any court, governmental agency, regulatory agency, self-regulatory organization or
stock market or any third party in order for it to execute, deliver or perform any of its obligations under this
Agreement, the Note in accordance with the terms hereof or thereof or to issue and sell the Note in accordance with the terms
hereof and to issue the Conversion Shares upon conversion of the Note. All consents, authorizations, orders, filings and
registrations which the Company is required to obtain pursuant to the preceding sentence have been obtained or effected on or
prior to the date hereof. The Company is not in violation of the listing requirements of the Over-the-Counter Bulletin Board
(the “OTCBB”), the OTCQB or any similar quotation system, and does not reasonably anticipate that the Common
Stock will be delisted by the OTCBB, the OTCQB or any similar quotation system, in the foreseeable future. The Company and
its Subsidiaries are unaware of any facts or circumstances which might give rise to any of the foregoing.

 

    	 	6	 

     

    

 

g.      SEC
Documents; Financial Statements. The Company has filed all reports, schedules, forms, statements and other
documents required to be filed by it with the SEC pursuant to the reporting requirements of the Securities Exchange Act of
1934, as amended (the “1934 Act”) (all of the foregoing filed prior to the date hereof and all exhibits included
therein and financial statements and schedules thereto and documents (other than exhibits to such documents) incorporated by
reference therein, being hereinafter referred to herein as the “SEC Documents”). The Company has delivered to the
Buyer true and complete copies of the SEC Documents, except for such exhibits and incorporated documents. As of their
respective dates, the SEC Documents complied in all material respects with the requirements of the 1934 Act and the rules and
regulations of the SEC promulgated thereunder applicable to the SEC Documents, and none of the SEC Documents, at the time
they were filed with the SEC, contained any untrue statement of a material fact or omitted to state a material fact required
to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they
were made, not misleading. None of the statements made in any such SEC Documents is, or has been, required to be amended or
updated under applicable law (except for such statements as have been amended or updated in subsequent filings prior the date
hereof). As of their respective dates, the financial statements of the Company included in the SEC Documents complied as to
form in all material respects with applicable accounting requirements and the published rules and regulations of the SEC with
respect thereto. Such financial statements have been prepared in accordance with United States generally accepted accounting
principles, consistently applied, during the periods involved and fairly present in all material respects the consolidated
financial position of the Company and its consolidated Subsidiaries as of the dates thereof and the consolidated results of
their operations and cash flows for the periods then ended (subject, in the case of unaudited statements, to normal year-end
audit adjustments). Except as set forth in the financial statements of the Company included in the SEC Documents, the Company
has no liabilities, contingent or otherwise, other than (i) liabilities incurred in the ordinary course of business
subsequent to November 14, 2012, and (ii) obligations under contracts and commitments incurred in the ordinary course of
business and not required under generally accepted accounting principles to be reflected in such financial statements, which,
individually or in the aggregate, are not material to the financial condition or operating results of the Company. The
Company is subject to the reporting requirements of the 1934 Act. For the avoidance of doubt, filing of the documents
required in this Section 3(g) via the SEC’s Electronic Data Gathering, Analysis, and Retrieval system
(“EDGAR”) shall satisfy all delivery requirements of this Section 3(g).

 

    	 	7	 

     

    

 

h.     Absence of Certain Changes. There has been no material adverse change and no material adverse development in the assets,
liabilities, business, properties, operations, financial condition, results of operations, prospects or 1934 Act reporting status
of the Company or any of its Subsidiaries.

 

i.       Absence of Litigation. There is no action, suit, claim, proceeding, inquiry or investigation before or by any court, public
board, government agency, self-regulatory organization or body pending or, to the knowledge of the Company or any of its Subsidiaries,
threatened against or affecting the Company or any of its Subsidiaries, or their officers or directors in their capacity as such,
that could have a Material Adverse Effect. Schedule 3(i) contains a complete list and summary description of any pending or, to
the knowledge of the Company, threatened proceeding against or affecting the Company or any of its Subsidiaries, without regard
to whether it would have a Material Adverse Effect. The Company and its Subsidiaries are unaware of any facts or circumstances
which might give rise to any of the foregoing.

 

j.       
Patents, Copyrights, etc. The Company and each of its Subsidiaries owns or possesses the requisite licenses or rights to
use all patents, patent applications, patent rights, inventions, know-how, trade secrets, trademarks, trademark applications,
service marks, service names, trade names and copyrights (“Intellectual Property”) necessary to enable it to conduct
its business as now operated (and, as presently contemplated to be operated in the future); Except as disclosed in the SEC Documents,
there is no claim or action by any person pertaining to, or proceeding pending, or to the Company’s knowledge threatened,
which challenges the right of the Company or of a Subsidiary with respect to any Intellectual Property necessary to enable it
to conduct its business as now operated (and, as presently contemplated to be operated in the future); to the best of the Company’s
knowledge, the Company’s or its Subsidiaries’ current and intended products, services and processes do not infringe
on any Intellectual Property or other rights held by any person; and the Company is unaware of any facts or circumstances which
might give rise to any of the foregoing. The Company and each of its Subsidiaries have taken reasonable security measures to protect
the secrecy, confidentiality and value of their Intellectual Property.

 

k.     
No Materially Adverse Contracts, Etc. Neither the Company nor any of its Subsidiaries is subject to any charter, corporate
or other legal restriction, or any judgment, decree, order, rule or regulation which in the judgment of the Company’s officers
has or is expected in the future to have a Material Adverse Effect. Neither the Company nor any of its Subsidiaries is a party
to any contract or agreement which in the judgment of the Company’s officers has or is expected to have a Material Adverse
Effect.

 

    	 	8	 

     

    

 

l.        Tax
Status. The Company and each of its Subsidiaries has made or filed all federal, state and foreign income and all
other tax returns, reports and declarations required by any jurisdiction to which it is subject (unless and only to the
extent that the Company and each of its Subsidiaries has set aside on its books provisions reasonably adequate for the
payment of all unpaid and unreported taxes) and has paid all taxes and other governmental assessments and charges that are
material in amount, shown or determined to be due on such returns, reports and declarations, except those being contested in
good faith and has set aside on its books provisions reasonably adequate for the payment of all taxes for periods subsequent
to the periods to which such returns, reports or declarations apply. There are no unpaid taxes in any material amount claimed
to be due by the taxing authority of any jurisdiction, and the officers of the Company know of no basis for any such claim.
The Company has not executed a waiver with respect to the statute of limitations relating to the assessment or collection of
any foreign, federal, state or local tax. None of the Company’s tax returns is presently being audited by any taxing
authority.

 

m.   
Certain Transactions. Except for arm’s length transactions pursuant to which the Company or any of its Subsidiaries
makes payments in the ordinary course of business upon terms no less favorable than the Company or any of its Subsidiaries could
obtain from third parties and other than the grant of stock options disclosed on Schedule 3(c), none of the officers, directors,
or employees of the Company is presently a party to any transaction with the Company or any of its Subsidiaries (other than for
services as employees, officers and directors), including any contract, agreement or other arrangement providing for the furnishing
of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from
any officer, director or such employee or, to the knowledge of the Company, any corporation, partnership, trust or other entity
in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee or partner.

 

n.     
Disclosure. All information relating to or concerning the Company or any of its Subsidiaries set forth in this Agreement
and provided to the Buyer pursuant to Section 2(d) hereof and otherwise in connection with the transactions contemplated hereby
is true and correct in all material respects and the Company has not omitted to state any material fact necessary in order to
make the statements made herein or therein, in light of the circumstances under which they were made, not misleading. No event
or circumstance has occurred or exists with respect to the Company or any of its Subsidiaries or its or their business, properties,
prospects, operations or financial conditions, which, under applicable law, rule or regulation, requires public disclosure or
announcement by the Company but which has not been so publicly announced or disclosed (assuming for this purpose that the Company’s
reports filed under the 1934 Act are being incorporated into an effective registration statement filed by the Company under the
1933 Act).

 

o.     
Acknowledgment Regarding Buyer’ Purchase of Securities. The Company acknowledges and agrees that the Buyer is acting
solely in the capacity of arm’s length purchasers with respect to this Agreement and the transactions contemplated hereby.
The Company further acknowledges that the Buyer is not acting as a financial advisor or fiduciary of the Company (or in any similar
capacity) with respect to this Agreement and the transactions contemplated hereby and any statement made by the Buyer or any of
its respective representatives or agents in connection with this Agreement and the transactions contemplated hereby is not advice
or a recommendation and is merely incidental to the Buyer’ purchase of the Securities. The Company further represents to
the Buyer that the Company’s decision to enter into this Agreement has been based solely on the independent evaluation of
the Company and its representatives.

 

    	 	9	 

     

    

 

p.     
No Integrated Offering. Neither the Company, nor any of its affiliates, nor any person acting on its
or their behalf, has directly or indirectly made any offers or sales in any security or solicited any offers to buy any security
under circumstances that would require registration under the 1933 Act of the issuance of the Securities to the Buyer. The issuance
of the Securities to the Buyer will not be integrated with any other issuance of the Company’s securities (past, current
or future) for purposes of any shareholder approval provisions applicable to the Company or its securities.

 

q.     
No Brokers. The Company has taken no action which would give rise to any claim by any person for brokerage commissions,
transaction fees or similar payments relating to this Agreement or the transactions contemplated hereby.

 

r.       Permits; Compliance. The Company and each of its Subsidiaries is in possession of all franchises, grants, authorizations,
licenses, permits, easements, variances, exemptions, consents, certificates, approvals and orders necessary to own, lease and
operate its properties and to carry on its business as it is now being conducted (collectively, the “Company Permits”),
and there is no action pending or, to the knowledge of the Company, threatened regarding suspension or cancellation of any of
the Company Permits. Neither the Company nor any of its Subsidiaries is in conflict with, or in default or violation of, any of
the Company Permits, except for any such conflicts, defaults or violations which, individually or in the aggregate, would not
reasonably be expected to have a Material Adverse Effect. N either the Company nor any of its Subsidiaries has received any notification
with respect to possible conflicts, defaults or violations of applicable laws, except for notices relating to possible conflicts,
defaults or violations, which conflicts, defaults or violations would not have a Material Adverse Effect.

 

s.      
Environmental Matters.

 

(i)       There
are, to the Company’s knowledge, with respect to the Company or any of its Subsidiaries or any predecessor of
the Company, no past or present violations of Environmental Laws (as defined below), releases of any material into the
environment, actions, activities, circumstances, conditions, events, incidents, or contractual obligations which may give
rise to any common law environmental liability or any liability under the Comprehensive Environmental Response, Compensation
and Liability Act of 1980 or similar federal, state, local or foreign laws and neither the Company nor any of its
Subsidiaries has received any notice with respect to any of the foregoing, nor is any action pending or, to the
Company’s knowledge, threatened in connection with any of the foregoing. The term “Environmental Laws”
means all federal, state, local or foreign laws relating to pollution or protection of human health or the environment
(including, without limitation, ambient air, surface water, groundwater, land surface or subsurface strata), including,
without limitation, laws relating to emissions, discharges, releases or threatened releases of chemicals, pollutants
contaminants, or toxic or hazardous substances or wastes (collectively, “Hazardous Materials”) into the
environment, or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal,
transport or handling of Hazardous Materials, as well as all authorizations, codes, decrees, demands or demand letters,
injunctions, judgments, licenses, notices or notice letters, orders, permits, plans or regulations issued, entered,
promulgated or approved thereunder.

 

    	 	10	 

     

    

 

(ii)      Other
than those that are or were stored, used or disposed of in compliance with applicable law, no Hazardous Materials are contained
on or about any real property currently owned, leased or used by the Company or any of its Subsidiaries, and no Hazardous Materials
were released on or about any real property previously owned, leased or used by the Company or any of its Subsidiaries during
the period the property was owned, leased or used by the Company or any of its Subsidiaries, except in the normal course of the
Company’s or any of its Subsidiaries’ business.

 

(iii)       There are no underground storage tanks on or under any real property owned, leased or used by the Company or any of its Subsidiaries
that are not in compliance with applicable law.

 

t.       Title to Property. Except as disclosed in the SEC Documents the Company and its Subsidiaries have good and marketable title
in fee simple to all real property and good and marketable title to all personal property owned by them which is material to the
business of the Company and its Subsidiaries, in each case free and clear of all liens, encumbrances and defects or such as would
not have a Material Adverse Effect. Any real property and facilities held under lease by the Company and its Subsidiaries are
held by them under valid, subsisting and enforceable leases with such exceptions as would not have a Material Adverse Effect.

 

u.     
Internal Accounting Controls. Except as disclosed in the SEC Documents the Company and each of its Subsidiaries maintain
a system of internal accounting controls sufficient, in the judgment of the Company’s board of directors, to provide reasonable
assurance that (i) transactions are executed in accordance with management’s general or specific authorizations, (ii) transactions
are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles
and to maintain asset accountability, (iii) access to assets is permitted only in accordance with management’s general or
specific authorization and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals
and appropriate action is taken with respect to any differences.

 

v.     
Foreign Corrupt Practices. Neither the Company, nor any of its Subsidiaries, nor any director, officer, agent, employee
or other person acting on behalf of the Company or any Subsidiary has, in the course of his actions for, or on behalf of, the
Company, used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expenses relating to political
activity; made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate
funds; violated or is in violation of any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended, or made any
bribe, rebate, payoff, influence payment, kickback or other unlawful payment to any foreign or domestic government official or
employee.

 

    	 	11	 

     

    

 

w.      Solvency. The Company (after giving effect to the transactions contemplated by this Agreement) is solvent (i.e.,
its assets have a fair market value in excess of the amount required to pay its probable liabilities on its existing debts as
they become absolute and matured) and currently the Company has no information that would lead it to reasonably conclude that
the Company would not, after giving effect to the transaction contemplated by this Agreement, have the ability to, nor does it
intend to take any action that would impair its ability to, pay its debts from time to time incurred in connection therewith as
such debts mature. The Company did not receive a qualified opinion from its auditors with respect to its most recent fiscal year
end and, after giving effect to the transactions contemplated by this Agreement, does not anticipate or know of any basis upon
which its auditors might issue a qualified opinion in respect of its current fiscal year. For the avoidance of doubt any disclosure
of the Borrower’s ability to continue as a “going concern” shall not, by itself, be a violation of this Section
3(w).

 

x.     
No Investment Company. The Company is not, and upon the issuance and sale of the Securities as contemplated by this Agreement
will not be an “investment company” required to be registered under the Investment Company Act of 1940 (an “Investment
Company”). The Company is not controlled by an Investment Company.

 

y.       Insurance. The Company and each of its Subsidiaries are insured by insurers of recognized financial responsibility against
such losses and risks and in such amounts as management of the Company believes to be prudent and customary in the businesses
in which the Company and its Subsidiaries are engaged.

 

z.       Breach of Representations and Warranties by the Company. If the Company breaches any of the representations or warranties
set forth in this Section 3, and in addition to any other remedies available to the Buyer pursuant to this Agreement, it will
be considered an Event of default under Section 3.4 of the Note.

 

4.           
COVENANTS.

 

a.      
Best Efforts. The parties shall use their commercially reasonable best efforts to satisfy timely each of the conditions
described in Section 6 and 7 of this Agreement.

 

b.      Use
of Proceeds. The Company shall use the proceeds from the sale of the Note for working capital and other general
corporate purposes and shall not, directly or indirectly, use such proceeds for any loan to or investment in any other
corporation, partnership, enterprise or other person (except in connection with its currently existing direct or
indirect Subsidiaries).

 

    	 	12	 

     

    

 

c.      Expenses. At the Closing, the Company hereby authorizes the Buyer, as detailed in the disbursement memorandum of even date,
to pay the Buyer’s legal counsel directly in the amount of $5,000, which such amount shall be withheld from the proceeds
relating to the first tranche of $20,000, as further described in the Note and disbursement memorandum.

 

d.     
Financial Information. The Company agrees to send or make available the following reports to the Buyer until the Buyer
transfers, assigns, or sells all of the Securities: (i) within ten (10) days after the filing with the SEC, a copy of its Annual
Report on Form 10-K its Quarterly Reports on Form 10-Q, and (ii) contemporaneously with the making available or giving to the
shareholders of the Company, copies of any notices or other information the Company makes available or gives to such shareholders.
For the avoidance of doubt, filing the documents required in (i) above via EDGAR or releasing any documents set forth in (ii)
above via a recognized wire service shall satisfy the delivery requirements of this Section 4(f).

 

e.      Listing. The Company shall promptly secure the listing of the Conversion Shares upon each national securities exchange
or automated quotation system, if any, upon which shares of Common Stock are then listed (subject to official notice of issuance)
and, so long as the Buyer owns any of the Securities, shall maintain, so long as any other shares of Common Stock shall be so
listed, such listing of all Conversion Shares from time to time issuable upon conversion of the Note. The Company will obtain
and, so long as the Buyer owns any of the Securities, maintain the listing and trading of its Common Stock on the OTCBB, OTCQB,
OTC Pink or any equivalent replacement exchange, the Nasdaq National Market (“Nasdaq”), the Nasdaq SmallCap Market
(“Nasdaq SmallCap”), the New York Stock Exchange (“NYSE”), or the NYSE MKT and will comply in all respects
with the Company’s reporting, filing and other obligations under the bylaws or rules of the Financial Industry Regulatory
Authority (“FINRA”) and such exchanges, as applicable. The Company shall promptly provide to the Buyer copies of any
material notices it receives from the OTCBB, OTCQB and any other exchanges or quotation systems on which the Common Stock is then
listed regarding the continued eligibility of the Common Stock for listing on such exchanges and quotation systems.

 

f.      Corporate
Existence. So long as the Buyer beneficially owns any Note, the Company shall maintain its corporate existence and shall
not sell all or substantially all of the Company’s assets, except in the event of a merger or consolidation or sale of
all or substantially all of the Company’s assets, where the surviving or successor entity in such transaction
(i) assumes the Company’s obligations hereunder and under the agreements and instruments entered into in connection
herewith and (ii) is a publicly traded corporation whose Common Stock is listed for trading on the OTCBB, OTCQB, OTC
Pink, Nasdaq, NasdaqSmallCap, NYSE or AMEX.

 

    	 	13	 

     

    

 

g.     
No Integration. The Company shall not make any offers or sales of any security (other than the Securities) under circumstances
that would require registration of the Securities being offered or sold hereunder under the 1933 Act or cause the offering of
the Securities to be integrated with any other offering of securities by the Company for the purpose of any stockholder approval
provision applicable to the Company or its securities.

 

h.     
Failure to Comply with the 1934 Act. So long as the Buyer beneficially owns the Note, the Company shall comply with the
reporting requirements of the 1934 Act; and the Company shall continue to be subject to the reporting requirements of the 1934
Act.

 

i.       Trading Activities. Neither the Buyer nor its affiliates has an open short position (or other hedging or similar transactions)
in the common stock of the Company and the Buyer agree that it shall not, and that it will cause its affiliates not to, engage
in any short sales of or hedging transactions with respect to the common stock of the Company.

 

j.       
Breach of Covenants. If the Company breaches any of the covenants set forth in this Section 4, and in addition to any other
remedies available to the Buyer pursuant to this Agreement, it will be considered an event of default under Section 3.3 of the
Note.

 

5.           Transfer
Agent Instructions. Prior to registration of the Conversion Shares under the 1933 Act or the date on which the Conversion
Shares may be sold pursuant to Rule 144 without any restriction as to the number of Securities as of a particular date that can
then be immediately sold, all such certificates shall bear the restrictive legend specified in Section 2(g) of this Agreement.
The Company warrants that: (i) no stop transfer instructions to give effect to Section 2(f) hereof (in the case of the Conversion
Shares, prior to registration of the Conversion Shares under the 1933 Act or the date on which the Conversion Shares may be sold
pursuant to Rule 144 without any restriction as to the number of Securities as of a particular date that can then be immediately
sold), will be given by the Company to its transfer agent and that the Securities shall otherwise be freely transferable on the
books and records of the Company as and to the extent provided in this Agreement and the Note; (ii) it will not direct its transfer
agent not to transfer or delay, impair, and/or hinder its transfer agent in transferring (or issuing) (electronically or in certificated
form) any certificate for Conversion Shares to be issued to the Buyer upon conversion of or otherwise pursuant to the Note as
and when required by the Note and this Agreement; and (iii) it will not fail to remove (or directs its transfer agent not to remove
or impairs, delays, and/or hinders its transfer agent from removing) any restrictive legend (or to withdraw any stop transfer
instructions in respect thereof) on any certificate for any Conversion Shares issued to the Buyer upon conversion of or otherwise
pursuant to the Note as and when required by the Note and this Agreement. Nothing in this Section shall affect in any way the
Buyer’s obligations and agreement set forth in Section 2(g) hereof to comply with all applicable prospectus delivery requirements,
if any, upon re-sale of the Securities. If the Buyer provides the Company, at the cost of the Buyer, with (i) an opinion of counsel
in form, substance and scope customary for opinions in comparable transactions, to the effect that a public sale or transfer of
such Securities may be made without registration under the 1933 Act and such sale or transfer is effected or (ii) the Buyer provides
reasonable assurances that the Securities can be sold pursuant to Rule 144, the Company shall permit the transfer, and, in the
case of the Conversion Shares, promptly instruct its transfer agent to issue one or more certificates, free from restrictive legend,
in such name and in such denominations as specified by the Buyer. The Company acknowledges that a breach by it of its obligations
hereunder will cause irreparable harm to the Buyer, by vitiating the intent and purpose of the transactions contemplated hereby.
Accordingly, the Company acknowledges that the remedy at law for a breach of its obligations under this Section may be inadequate
and agrees, in the event of a breach or threatened breach by the Company of the provisions of this Section, that the Buyer shall
be entitled, in addition to all other available remedies, to an injunction restraining any breach and requiring immediate transfer,
without the necessity of showing economic loss and without any bond or other security being required.

 

    	 	14	 

     

    

 

6.            COND
IT IO NS PRECEDENT TO THE COMPANY’S O BLIG AT IO NS TO SELL. The obligation of the Company hereunder
to issue and sell the Note to the Buyer at the Closing is subject to the satisfaction, at or before the Closing Date of each
of the following conditions thereto, provided that these conditions are for the Company’s sole benefit and may be
waived by the Company at any time in its sole discretion:

 

a.      
The Buyer shall have executed this Agreement and delivered the same to the Company.

 

b.     
The Buyer shall have delivered the First Tranche Purchase Price in accordance with Section 1(b) above.

 

c.      The representations and warranties of the Buyer shall be true and correct in all material respects as of the date when made and
as of the Closing Date as though made at that time (except for representations and warranties that speak as of a specific date),
and the Buyer shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions
required by this Agreement to be performed, satisfied or complied with by the Buyer at or prior to the Closing Date.

 

d.     
No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having
authority over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this
Agreement.

 

    	 	15	 

     

    

 

7.            COND
IT IO NS PRECEDENT TO THE BUYE R’S OBLIGATION TO PURCHASE. The obligation of the Buyer hereunder to purchase
the Note at the Closing is subject to the satisfaction, at or before the Closing Date of each of the following conditions, provided
that these conditions are for the Buyer’s sole benefit and may be waived by the Buyer at any time in its sole discretion:

 

a.      The Company shall have executed this Agreement and delivered the same to the Buyer.

 

b.     
The Company shall have delivered to the Buyer duly executed Note (in such denominations as the Buyer shall request) in accordance
with Section 1(b) above.

 

c.      The representations and warranties of the Company shall be true and correct in all material respects as of the date when made
and as of the Closing Date as though made at such time (except for representations and warranties that speak as of a specific
date) and the Company shall have performed, satisfied and complied in all material respects with the covenants, agreements and
conditions required by this Agreement to be performed, satisfied or complied with by the Company at or prior to the Closing Date.
The Buyer shall have received a certificate or certificates, executed by the chief executive officer of the Company, dated as
of the Closing Date, to the foregoing effect and as to such other matters as may be reasonably requested by the Buyer including,
but not limited to certificates with respect to the Company’s Certificate of Incorporation, By-laws and Board of Directors’
resolutions relating to the transactions contemplated hereby.

 

d.     
No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having
authority over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this
Agreement.

 

e.      
No event shall have occurred which could reasonably be expected to have a Material Adverse Effect on the Company including but
not limited to a change in the 1934 Act reporting status of the Company or the failure of the Company to be timely in its 1934
Act reporting obligations.

 

f.      
The Conversion Shares shall have been authorized for quotation on the OTCBB, OTCQB or any similar quotation system and trading
in the Common Stock on the OTCBB, OTCQB or any similar quotation system shall not have been suspended by the SEC or the OTCBB,
OTCQB or any similar quotation system.

 

g.     
The Buyer shall have received an officer’s certificate described in Section 3(c) above, dated as of the Closing Date.

 

    	 	16	 

     

    

 

8.           GOVERNING LAW; MISCELLANEOUS.

 

a.      
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida without
regard to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated
by this Agreement shall be brought only in the state courts of Broward County, Florida or in the federal courts located in the
State of Florida. The parties to this Agreement hereby irrevocably waive any objection to jurisdiction and venue of any action
instituted hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens.
The Company and Buyer waive trial by jury. The prevailing party shall be entitled to recover from the other party its reasonable
attorney's fees and costs. In the event that any provision of this Agreement or any other agreement delivered in connection herewith
is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the
extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision
which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision
of any agreement. Each party hereby irrevocably waives personal service of process and consents to process being served in any
suit, action or proceeding in connection with this Agreement or any other Transaction Document by mailing a copy thereof via registered
or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under
this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing
contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law.

 

b.     Counterparts; Signatures by Facsimile. This Agreement may be executed in one or more counterparts, each of which shall
be deemed an original but all of which shall constitute one and the same agreement and shall become effective when counterparts
have been signed by each party and delivered to the other party. This Agreement, once executed by a party, may be delivered to
the other party hereto by facsimile transmission of a copy of this Agreement bearing the signature of the party so delivering
this Agreement.

 

c.      
Headings. The headings of this Agreement are for convenience of reference only and shall not form part of, or affect the
interpretation of, this Agreement.

 

d.     
Severability. In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute
or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed
modified to conform with such statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any
law shall not affect the validity or enforceability of any other provision hereof.

 

e.      Entire
Agreement; Amendments. This Agreement and the instruments referenced herein contain the entire understanding of the
parties with respect to the matters covered herein and therein and, except as specifically set forth herein or
therein, neither the Company nor the Buyer makes any representation, warranty, covenant or undertaking with respect to such
matters. No provision of this Agreement may be waived or amended other than by an instrument in writing signed by the
majority in interest of the Buyer.

 

    	 	17	 

     

    

 

f.      Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder
shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered
or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid,
or (iv) transmitted by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such party
shall have specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder
shall be deemed effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting
facsimile machine, at the address or number designated below (if delivered on a business day during normal business hours where
such notice is to be received), or the first business day following such delivery (if delivered other than on a business day during
normal business hours where such notice is to be received) or (b) on the second business day following the date of mailing by
express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first
occur. The addresses for such communications shall be:

 

If
to the Company, to:

 

MANTRA
VENTURE GROUP, LTD. 

1562 128th Street

Surrey,
BC Canada V4A 3T7

E-mail:                                         

 

If to the Holder, to:

 

OLD
MAIN CAPITAL, LLC

3109
Stirling Road, Suite 100

Fort
Lauderdale, FL 33312

E-mail:
Mark@OldMainCapital.com

 

Each
party shall provide notice to the other party of any change in address.

 

g.     
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors
and assigns. Neither the Company nor the Buyer shall assign this Agreement or any rights or obligations hereunder without the
prior written consent of the other. Notwithstanding the foregoing, subject to Section 2(f), the Buyer may assign its rights hereunder
to any person that purchases Securities in a private transaction
from the Buyer or to any of its “affiliates,” as that term is defined under the 1934 Act, without the consent of the Company.

 

    	 	18	 

     

    

 

h.      Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted
successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

i.       Survival. The
representations and warranties of the Company and the agreements and covenants set forth in this Agreement
shall survive the closing hereunder. The Company agrees to indemnify and hold harmless the Buyer and all their officers,
directors, employees and agents for loss or damage arising as a result of or related to any breach by the Company of any of
its representations, warranties and covenants set forth in this Agreement or any of its covenants and obligations under this
Agreement, including advancement of expenses as they are incurred.

 

j.      

Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things,
and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably
request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions
contemplated hereby.

 

k.      
No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to
express their mutual intent, and no rules of strict construction will be applied against any party.

 

l.      
Remedies.

 

(i)       The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Buyer by vitiating
the intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the remedy at law for
a breach of its obligations under this Agreement will be inadequate and agrees, in the event of a breach or threatened breach
by the Company of the provisions of this Agreement, that the Buyer shall be entitled, in addition to all other available remedies
at law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing
or curing any breach of this Agreement and to enforce specifically the terms and provisions hereof, without the necessity of showing
economic loss and without any bond or other security being required.

 

(ii)       In addition to any other remedy provided herein or in any document executed in connection herewith, Borrower shall pay Holder
for all costs, fees and expenses in connection with any litigation, contest, dispute, suit or any other action to enforce any
rights of Holder against Borrower in connection herewith, including, but not limited to, costs and expenses and attorneys' fees,
and costs and time charges of counsel to Holder.

 

m.     Publicity.
The Company, and the Buyer shall have the right to review a reasonable period of time before issuance of any press releases, SEC,
OTCQB (or other applicable trading market), or FINRA filings, or any other public statements with respect to the transactions
contemplated hereby; provided, however, that the Company shall be entitled, without the prior approval of the Buyer,
to make any press release or SEC, OTCQB (or other applicable trading market) or FINRA filings with respect to such transactions
as is required by applicable law and regulations (although the Buyer shall be consulted by the Company in connection with any
such press release prior to its release and shall be provided with a copy thereof).

 

[ - signature page follows - ]

 

    	 	19	 

     

    

 

IN WITNESS WHEREOF, the undersigned Buyer
and the Company have caused this Agreement to be duly executed as of the date first above written.

 

	MANTRA
    VENTURE GROUP, LTD.	 
	 	 	
	By:	/s/ Larry Kristof	 
	Name:	Larry
    Kristof	 
	Title:	Chief Executive Officer	 

 

	OLD MAIN CAPITAL, LLC	 
	 	 	
	By:	/s/ Mark Rozeboom	 
	Name:	
    Mark Rozeboom	 
	Title:	Managing Member	 

 

	AGGREGATE SUBSCRIPTION AMOUNT:	 
	 	 	 
	Aggregate Principal Amount of Note:	 	US$166,666.00
	 	 	 
	Aggregate Purchase Price:	 	US$150,000.00*

 

*Only
$20,000 of the $150,000 purchase price shall be paid within a reasonable amount of time after the closing of the Note. Additional
tranches may be funded by the Buyer in accordance with the terms of the Note.

 

    	 	20	 

    

    

 

Exhibit
“A”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 21

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