Document:

Exhibit
4.11

 

THIS
NOTE AND THE COMMON STOCK ISSUABLE UPON CONVERSION OF THIS NOTE HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE UNITED STATES
SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER (THE “1933 ACT”)

 

US
$70,912.75 

 

REPLACEMENT
NOTE- ORIGINALLY ISSUED ON JULY 2, 2018 IN THE AMOUNT OF $220,000 AND AMENDED ON NOVEMBER 30, 2018 

 

EVIO,
INC.

8%
CONVERTIBLE REDEEMABLE NOTE

DUE
MARCH 15, 2020

 

FOR
VALUE RECEIVED, EVIO, Inc. (the “Company”) promises to pay to the order of CERBERUS FINANCE GROUP, LTD and its authorized
successors and permitted assigns (“Holder”), the aggregate principal face amount of Seventy Thousand Nine Hundred
Twelve Dollars and 75/100 cents exactly (U.S. $70,912.75) on March 15, 2020 (“Maturity Date”) and to pay interest
on the principal amount outstanding hereunder at the rate of 8% per annum commencing on March 15, 2019. The interest will be paid
to the Holder in whose name this Note is registered on the records of the Company regarding registration and transfers of this
Note. The principal of, and interest on, this Note are payable at 50 West Liberty Street, Suite 880, Reno, NV 89501, initially,
and if changed, last appearing on the records of the Company as designated in writing by the Holder hereof from time to time.
The Company will pay each interest payment and the outstanding principal due upon this Note before or on the Maturity Date, less
any amounts required by law to be deducted or withheld, to the Holder of this Note by check or wire transfer addressed to such
Holder at the last address appearing on the records of the Company. The forwarding of such check or wire transfer shall constitute
a payment of outstanding principal hereunder and shall satisfy and discharge the liability for principal on this Note to the extent
of the sum represented by such check or wire transfer. Interest shall be payable in Common Stock (as defined below) pursuant to
paragraph 4(b) herein.

 

This
Note is subject to the following additional provisions:

 

1.
This Note is exchangeable for an equal aggregate principal amount of Notes of different authorized denominations, as requested
by the Holder surrendering the same. No service charge will be made for such registration or transfer or exchange, except that
Holder shall pay any tax or other governmental charges payable in connection therewith.

 

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2.
The Company shall be entitled to withhold from all payments any amounts required to be withheld under applicable laws.

 

3.
This Note may be transferred or exchanged only in compliance with the Securities Act of 1933, as amended (“Act”)
and applicable state securities laws. Any attempted transfer to a non-qualifying party shall be treated by the Company as void.
Prior to due presentment for transfer of this Note, the Company and any agent of the Company may treat the person in whose name
this Note is duly registered on the Company’s records as the owner hereof for all other purposes, whether or not this Note
be overdue, and neither the Company nor any such agent shall be affected or bound by notice to the contrary. Any Holder of this
Note electing to exercise the right of conversion set forth in Section 4(a) hereof, in addition to the requirements set forth
in Section 4(a), and any prospective transferee of this Note, also is required to give the Company written confirmation that this
Note is being converted (“Notice of Conversion”) in the form annexed hereto as Exhibit A. The date of
receipt (including receipt by telecopy) of such Notice of Conversion shall be the Conversion Date.

 

4.
(a) The Holder of this Note is entitled, at its option, at any time, to convert all or any amount of the principal face amount
of this Note then outstanding into shares of the Company’s common stock (the “Common Stock”) at a price
(“Conversion Price”) for each share of Common Stock equal to 65% of the lowest trading price
of the Common Stock as reported on the National Quotations Bureau OTC marketplace which the Company’s shares are traded
or any exchange upon which the Common Stock may be traded in the future (“Exchange”), for the lower of (i)
fifteen prior trading days immediately preceding the Issuance Date of this note or (ii) the fifteen
prior trading days including the day upon which a Notice of Conversion is received by the Company or its transfer agent (provided
such Notice of Conversion is delivered by fax or other electronic method of communication to the Company or its transfer agent
after 4 P.M. Eastern Standard or Daylight Savings Time if the Holder wishes to include the same day closing price). If the shares
have not been delivered within 3 business days, the Notice of Conversion may be rescinded. Such conversion shall be effectuated
by the Company delivering the shares of Common Stock to the Holder within 3 business days of receipt by the Company of the Notice
of Conversion. Accrued but unpaid interest shall be subject to conversion. No fractional shares or scrip representing fractions
of shares will be issued on conversion, but the number of shares issuable shall be rounded to the nearest whole share.
To the extent the Conversion Price of the Company’s Common Stock closes below the par value per share, the Company will
take all steps necessary to solicit the consent of the stockholders to reduce the par value to the lowest value possible under
law. The Company agrees to honor all conversions submitted pending this increase. In the event the Company experiences a DTC
“Chill” on its shares, the Conversion Price shall be decreased to 55% instead of 65% while that “Chill”
is in effect. In no event shall the Holder be allowed to effect a conversion if such conversion, along with all other shares
of Company Common Stock beneficially owned by the Holder and its affiliates would exceed 9.9% of the outstanding shares of the
Common Stock of the Company. The conversion discount and look back period will be adjusted on a ratchet basis if the Company offers
a more favorable conversion discount (whether through a straight discount or in combination with an original issue discount) or
look back period to another party while this note is in effect.

 

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(b)
Interest on any unpaid principal balance of this Note shall be paid at the rate of 8% per annum. Interest outstanding after the
six month anniversary of this Note, shall be paid by the Company in Common Stock (“Interest Shares”). Holder may,
at any time after the six month anniversary of this Note, send in a Notice of Conversion to the Company for Interest Shares based
on the formula provided in Section 4(a) above. The dollar amount converted into Interest Shares shall be all or a portion of the
accrued interest calculated on the unpaid principal balance of this Note to the date of such notice.

 

(c)
The Note may not be prepaid.

 

(d)
Upon (i) a transfer of all or substantially all of the assets of the Company to any person in a single transaction or series of
related transactions, (ii) a reclassification, capital reorganization or other change or exchange of outstanding shares of the
Common Stock, other than a forward or reverse stock split or stock dividend, or (iii) any consolidation or merger of the Company
with or into another person or entity in which the Company is not the surviving entity (other than a merger which is effected
solely to change the jurisdiction of incorporation of the Company and results in a reclassification, conversion or exchange of
outstanding shares of Common Stock solely into shares of Common Stock) (each of items (i), (ii) and (iii) being referred to as
a “Sale Event”), then, in each case, the Company shall, upon request of the Holder, redeem this Note in cash for 150%
of the principal amount, plus accrued but unpaid interest through the date of redemption, or at the election of the Holder, such
Holder may convert the unpaid principal amount of this Note (together with the amount of accrued but unpaid interest) into shares
of Common Stock immediately prior to such Sale Event at the Conversion Price.

 

(e)
In case of any Sale Event (not to include a sale of all or substantially all of the Company’s assets) in connection with
which this Note is not redeemed or converted, the Company shall cause effective provision to be made so that the Holder of this
Note shall have the right thereafter, by converting this Note, to purchase or convert this Note into the kind and number of shares
of stock or other securities or property (including cash) receivable upon such reclassification, capital reorganization or other
change, consolidation or merger by a holder of the number of shares of Common Stock that could have been purchased upon exercise
of the Note and at the same Conversion Price, as defined in this Note, immediately prior to such Sale Event. The foregoing provisions
shall similarly apply to successive Sale Events. If the consideration received by the holders of Common Stock is other than cash,
the value shall be as determined by the Board of Directors of the Company or successor person or entity acting in good faith.

 

5.
No provision of this Note shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal of, and interest on, this Note at the time, place, and rate, and in the form, herein prescribed.

 

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6.
The Company hereby expressly waives demand and presentment for payment, notice of non-payment, protest, notice of protest, notice
of dishonor, notice of acceleration or intent to accelerate, and diligence in taking any action to collect amounts called for
hereunder and shall be directly and primarily liable for the payment of all sums owing and to be owing hereto.

 

7.
The Company agrees to pay all costs and expenses, including reasonable attorneys’ fees and expenses, which may be incurred
by the Holder in collecting any amount due under this Note.

 

8.
If one or more of the following described “Events of Default” shall occur:

 

(a)
The Company shall default in the payment of principal or interest on this Note or any other note issued to the Holder by the Company;
or

 

(b)
Any of the representations or warranties made by the Company herein or in any certificate or financial or other written statements
heretofore or hereafter furnished by or on behalf of the Company in connection with the execution and delivery of this Note, or
the Securities Purchase Agreement under which this note was issued shall be false or misleading in any material respect; or

 

(c)
The Company shall fail to perform or observe, in any respect, any material covenant, term, provision, condition, agreement or
obligation of the Company under this Note or any other note issued to the Holder; or

 

(d)
The Company shall (1) become insolvent; (2) make an assignment for the benefit of creditors or commence proceedings for its dissolution;
(3) apply for or consent to the appointment of a trustee, liquidator or receiver for its or for a substantial part of its property
or business; (4) file a petition for bankruptcy relief, consent to the filing of such petition or have filed against it an involuntary
petition for bankruptcy relief, all under federal or state laws as applicable; or

 

(e)
A trustee, liquidator or receiver shall be appointed for the Company or for a substantial part of its property or business without
its consent and shall not be discharged within sixty (60) days after such appointment; or

 

(f)
Any governmental agency or any court of competent jurisdiction at the instance of any governmental agency shall assume custody
or control of the whole or any substantial portion of the properties or assets of the Company; or

 

(g)
One or more money judgments, writs or warrants of attachment, or similar process, in excess of fifty thousand dollars ($50,000)
in the aggregate, shall be entered or filed against the Company or any of its properties or other assets and shall remain unpaid,
unvacated, unbonded or unstayed for a period of fifteen (15) days or in any event later than five (5) days prior to the date of
any proposed sale thereunder; or

 

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(h)
The Company shall have defaulted on or breached any term of any other note of similar debt instrument into which the Company has
entered and failed to cure such default within the appropriate grace period; or

 

(i)
The Company shall have its Common Stock delisted from an exchange (including the OTC Market Exchange) or, if the Common Stock
trades on an exchange, then trading in the Common Stock shall be suspended for more than 10 consecutive days or ceases to file
its 1934 act reports with the SEC;

 

(j)
If a majority of the members of the Board of Directors of the Company on the date hereof are no longer serving as members of the
Board;

 

(k)
The Company shall not deliver to the Holder the Common Stock pursuant to paragraph 4 herein without restrictive legend within
3 business days of its receipt of a Notice of Conversion; or

 

(l)
The Company shall not replenish the reserve set forth in Section 12, within 3 business days of the request of the Holder.

 

(m)
The Company shall not be “current” in its filings with the Securities and Exchange Commission;

 

(n)
The Company shall lose the “bid” price for its stock in a market (including the OTC marketplace or other exchange);
or

 

Then,
or at any time thereafter, unless cured within 5 days, and in each and every such case, unless such Event of Default shall have
been waived in writing by the Holder (which waiver shall not be deemed to be a waiver of any subsequent default) at the option
of the Holder and in the Holder’s sole discretion, the Holder may consider this Note immediately due and payable, without
presentment, demand, protest or (further) notice of any kind (other than notice of acceleration), all of which are hereby expressly
waived, anything herein or in any note or other instruments contained to the contrary notwithstanding, and the Holder may immediately,
and without expiration of any period of grace, enforce any and all of the Holder’s rights and remedies provided herein or
any other rights or remedies afforded by law. Upon an Event of Default, interest shall accrue at a default interest rate of 24%
per annum or, if such rate is usurious or not permitted by current law, then at the highest rate of interest permitted by law.
In the event of a breach of Section 8(k) the penalty shall be $250 per day the shares are not issued beginning on the 4th
day after the conversion notice was delivered to the Company. This penalty shall increase to $500 per day beginning on the
10th day. The penalty for a breach of Section 8(n) shall be an increase of the outstanding principal amounts by 20%.
Further, if a breach of Section 8(m) occurs or is continuing after the 6 month anniversary of the Note, then the Holder shall
be entitled to use the lowest closing bid price during the delinquency period as a base price for the conversion. For example,
if the lowest closing bid price during the delinquency period is $0.01 per share and the conversion discount is 50% the Holder
may elect to convert future conversions at $0.005 per share.

 

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If
the Holder shall commence an action or proceeding to enforce any provisions of this Note, including, without limitation, engaging
an attorney, then if the Holder prevails in such action, the Holder shall be reimbursed by the Company for its attorneys’
fees and other costs and expenses incurred in the investigation, preparation and prosecution of such action or proceeding.

 

Make-Whole
for Failure to Deliver Loss. At the Holder’s election, if the Company fails for any reason to deliver to the Holder the
conversion shares by the by the 3rd business day following the delivery of a Notice of Conversion to the Company and if the Holder
incurs a Failure to Deliver Loss, then at any time the Holder may provide the Company written notice indicating the amounts payable
to the Holder in respect of the Failure to Deliver Loss and the Company must make the Holder whole as follows:

 

Failure
to Deliver Loss = [(Highest VWAP price for the 30 trading days on or after the day of exercise) x (Number of conversion shares)]

 

The
Company must pay the Failure to Deliver Loss by cash payment, and any such cash payment must be made by the third business day
from the time of the Holder’s written notice to the Company.

 

9.
In case any provision of this Note is held by a court of competent jurisdiction to be excessive in scope or otherwise invalid
or unenforceable, such provision shall be adjusted rather than voided, if possible, so that it is enforceable to the maximum extent
possible, and the validity and enforceability of the remaining provisions of this Note will not in any way be affected or impaired
thereby.

 

10.
Neither this Note nor any term hereof may be amended, waived, discharged or terminated other than by a written instrument signed
by the Company and the Holder.

 

11.
The Company represents that it is not a “shell” issuer and has never been a “shell” issuer or that if
it previously has been a “shell” issuer that at least 12 months have passed since the Company has reported Form 10
type information indicating it is no longer a “shell issuer. Further, the Company will instruct its counsel to either (i)
write a 144 opinion to allow for salability of the conversion shares or (ii) accept such opinion from Holder’s counsel.

 

12.
The Company shall issue irrevocable transfer agent instructions reserving 659,000 shares of its Common Stock for conversions under
this Note (the “Share Reserve”). Upon full conversion of this Note, any shares remaining in the Share Reserve shall
be cancelled. The Company shall pay all transfer agent costs associated with issuing and delivering the share certificates to
Holder. If such amounts are to be paid by the Holder, it may deduct such amounts from the Conversion Price. The company should
at all times reserve a minimum of four times the amount of shares required if the note would be fully converted. The Holder may
reasonably request increases from time to time to reserve such amounts. The Company will instruct its transfer agent to provide
the outstanding share information to the Holder in connection with its conversions.

 

13.
The Company will give the Holder direct notice of any corporate actions, including but not limited to name changes, stock splits,
recapitalizations etc. This notice shall be given to the Holder as soon as possible under law. The prices per share set forth
in this Note are subject to adjustment to give effect to any stock splits, reverse stock splits, recapitalizations and the like.

 

14.
If it shall be found that any interest or other amount deemed interest due hereunder violates the applicable law governing usury,
the applicable provision shall automatically be revised to equal the maximum rate of interest or other amount deemed interest
permitted under applicable law. The Company covenants (to the extent that it may lawfully do so) that it will not seek to claim
or take advantage of any law that would prohibit or forgive the Company from paying all or a portion of the principal or interest
on this Note.

 

15.
This Note shall be governed by and construed in accordance with the laws of New York applicable to contracts made and wholly to
be performed within the State of New York and shall be binding upon the successors and assigns of each party hereto. The Holder
and the Company hereby mutually waive trial by jury and consent to exclusive jurisdiction and venue in the courts of the State
of New York or in the Federal courts sitting in the county or city of New York. This Agreement may be executed in counterparts,
and the facsimile transmission of an executed counterpart to this Agreement shall be effective as an original.

 

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IN
WITNESS WHEREOF, the Company has caused this Note to be duly executed by an officer thereunto duly authorized.

 

Dated: _______________

 

	 	EVIO,
    INC.
	 	 
	 	By:	 
	 	 
	 	Title:	 

 

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EXHIBIT
A

 

NOTICE
OF CONVERSION

 

(To
be Executed by the Registered Holder in order to Convert the Note)

 

The
undersigned hereby irrevocably elects to convert $___________ of the above Note into _________ Shares of Common Stock of EVIO,
Inc. (“Shares”) according to the conditions set forth in such Note, as of the date written below.

 

If
Shares are to be issued in the name of a person other than the undersigned, the undersigned will pay all transfer and other taxes
and charges payable with respect thereto.

 

Date
of Conversion: _______________________________________________________

Applicable
Conversion Price: ________________________________________________

Signature:
_______________________________________________________________

[Print
Name of Holder and Title of Signer]

 

Address:
_________________________________________________________________

_________________________________________________________________

 

SSN
or EIN: __________________________

Shares
are to be registered in the following name: __________________________________________

 

Name:
_________________________________________________________________________

Address:
_______________________________________________________________________

Tel:
_____________________________________

Fax:
_____________________________________

SSN
or EIN: ______________________________

 

Shares
are to be sent or delivered to the following account:

 

Account
Name: ________________________________________________________________________

Address:
______________________________________________________________________________

 

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    	8Exhibit
4.12

 

EXCHANGE
AGREEMENT 

 

THIS
EXCHANGE AGREEMENT (the “Agreement”), dated as of July 1, 2019, is entered into by and among Evio, Inc.,
a Colorado corporation (the “Company”), and Gemini Special Opportunities Fund, LP (the “Holder”).

 

W
I T N E S S E T H:

 

WHEREAS,
the Company issued to the Holder two notes, (i) a certain $585,000 Secured Convertible Note dated on September 13, 2018 (as amended
on November 30, 2018) and (ii) a certain $220,000 Promissory Note dated July 2, 2018 (as amended on November 30, 2018) (the “Notes”);

 

WHEREAS,
the Company is currently in default on the Notes due to Borrower’s failure to pay all amounts due under the Notes.

 

WHEREAS,
the Company and the Holder desire to exchange the Notes for a new Secured Convertible Note (the “Convertible Note”)
issued by the Company, all on the terms set forth below; and

 

NOW,
THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

1.
Exchange of Note and Issuance of Secured Convertible Note.

 

a.
Upon the following terms and conditions, the Company shall issue to the Holder, and the Holder shall acquire from the Company,
the Convertible Note.

 

b.
Promptly following execution hereof, the Company shall deliver an originally signed Convertible Note to Holder. The execution
and consummation of the Security Agreement by the Holder and the Company shall be a condition precedent to the consummation of
the transactions contemplated hereby.

 

c.
The date upon which the Convertible Note is issued shall be the “Closing Date”.

 

2.
Representations and Warranties. The Company hereby makes to the Holder the following representations and warranties:

 

a.
Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate
the transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder and thereunder. The execution
and delivery of this Agreement and the Convertible Note by the Company and the consummation by it of the transactions contemplated
hereby have been duly authorized by all necessary action on the part of the Company and no further action is required by the Company,
its board of directors or its stockholders in connection therewith. This Agreement and the Convertible Note have been duly executed
by the Company and, when delivered in accordance with the terms hereof will constitute the valid and binding obligation of the
Company enforceable against the Company in accordance with its terms except (i) as limited by general equitable principles and
applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’
rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable
remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.

 

    	 

     

    

 

EVIO
July 2019 Exchange Agreement

Page
2 of  5

 

b.
No Conflicts. The execution, delivery and performance of this Agreement and the Convertible Note by the Company and the
consummation by the Company of the transactions contemplated hereby do not and will not: (i) conflict with or violate any provision
of the Company’s or any of its subsidiary’s certificate or articles of incorporation, bylaws or other organizational
or charter documents, or (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would
become a default) under, result in the creation of any lien or encumbrance upon any of the properties or assets of the Company
or any subsidiary, or give to others any rights of termination, amendment, acceleration or cancellation (with or without notice,
lapse of time or both) of, any material agreement, credit facility, debt or other material instrument (evidencing a Company or
subsidiary debt or otherwise) or other material understanding to which the Company or any subsidiary is a party or by which any
property or asset of the Company or any subsidiary thereof is bound or affected, or (iii) conflict with or result in a violation
of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority
to which the Company or a subsidiary is subject (including federal and state securities laws and regulations), or by which any
property or asset of the Company or a subsidiary is bound or affected; except in the case of each of clauses (ii) and (iii), such
as could not have or reasonably be expected to result in a material adverse effect on the Company or its business of financial
condition.

 

c.
Filings, Consents and Approvals. The Company is not required to obtain any approval, consent, waiver, authorization or
order of, give any notice to, or make any filing, qualification or registration with, any court or other federal, state, local,
foreign or other governmental authority or other person or entity in connection with the execution, delivery and performance by
the Company of this Agreement or the Convertible Note. No further approval or authorization of any stockholder, the Board of Directors
or others is required for exchange for and the issuance of the Convertible Note.

 

d.
No Inside Information. Neither the Company nor any Person acting on its behalf has provided the Holder or its counsel with
any information that constitutes or might constitute material, non-public information concerning the Company.

 

e.
Equal Consideration. Except as otherwise set forth herein, no consideration has been offered or paid to any person to amend
or consent to a waiver, modification, forbearance, exchange or otherwise of any provision of the Convertible Note.

 

f.
Survival. All of the Company’s warranties and representations contained in this Agreement shall survive the execution,
delivery and acceptance of this Agreement by the parties hereto.

 

g.
Holding Period for Convertible Note. Pursuant to Rule 144 promulgated under the Securities Act of 1933, the holding period
of the Convertible Note, and any shares of common stock issued upon conversion of the Convertible Note, shall tack back to July
2, 2018 (the original issue date of the note). The Company agrees not to take a position contrary to this paragraph. The Company
agrees to take all actions, including, without limitation, the issuance by its legal counsel of any necessary legal opinions,
necessary to issue the Convertible Note (and such Underlying Shares) without restriction and not containing any restrictive legend
without the need for any action by the Holder. The Company is not subject to Rule 144(i). The Convertible Note is being issued
in substitution and exchange for and not in satisfaction of the Note. The Convertible Note shall not constitute a novation or
satisfaction and accord of the Note. Without limiting any of the terms, conditions or covenants contained in this Agreement or
other documents, if at any time it is determined that any Underlying Shares are not freely tradable without restriction or limitation
pursuant to Rule 144, then the Company shall promptly register the resale of all Underlying Shares under the Securities Act by
filing a registration statement with the SEC as soon as practicable (but in no event later than 30 days) and causing such registration
statement to be declared effective as soon as practicable (but in no event later than 90 days).

 

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EVIO
                                         July 2019 Exchange Agreement

Page
3 of 5

 

h.
No Event of Default. Upon consummation of the exchange hereunder, no Event of Default shall have occurred and be continuing.

 

i.
Balances. As of the date hereof, the balance outstanding under the Notes, including principal and interest is $825,930.30,
and no further amounts are due under the Notes.

 

3.
Legal Opinion. The Company hereby agrees to cause its legal counsel to issue a legal opinion to the Holder and the Company’s
Transfer Agent regarding this Agreement and the transactions contemplated hereby, in form and substance reasonably acceptable
to the Holder, including an opinion that all shares issued pursuant to a conversion of the Convertible Note may be sold pursuant
to Rule 144 without restrictions or manner of sale limitations and that certificates representing any such shares may be issued
without a restrictive legend. Delivery of such legal opinion shall be a condition to the consummation of the transactions contemplated
hereby.

 

4.
Public Information. So long as the Holder owns the Convertible Note, the Company shall timely file (or timely obtain extensions
in respect thereof and file within the applicable grace period) all reports and definitive proxy or information statements required
to be filed by the Company under the Securities Exchange Act of 1934, as amended (“Exchange Act”), and shall not terminate
its status as an issuer required to file reports under the Exchange Act (even if the Exchange Act or the rules and regulations
promulgated thereunder would otherwise permit such termination).

 

5.
Miscellaneous.

 

a.
This Agreement may be executed in two or more counterparts and by facsimile signature, delivery of PDF images of executed signature
pages by email or otherwise, and each of such counterparts shall be deemed an original and all of such counterparts together shall
constitute one and the same agreement.

 

b.
If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent
jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the
broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect
the validity of the remaining provisions of this Agreement so long as this Agreement as so modified continues to express, without
material change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity
or unenforceability of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations
of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will
endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s),
the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

 

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EVIO
                                         July 2019 Exchange Agreement

Page
4 of 5

 

c.
This Agreement shall be governed by and interpreted in accordance with laws of the State of California. The parties hereto hereby
waive the right to a jury trial in any litigation resulting from or related to this Agreement. The parties hereto consent to exclusive
jurisdiction and venue in the federal courts sitting in the County of San Diego. Each party waives all defenses of lack of personal
jurisdiction and forum non conveniens. Process may be served on any party hereto in the manner authorized by applicable law or
court rule.

 

d.
The Holder and the Company hereby agree and provide further assurances that it will, in the future, execute and deliver any and
all further agreements, certificates, instruments and documents and do and perform or cause to be done and performed, all acts
and things as may be necessary or appropriate to carry out the intent and accomplish the purposes of this Agreement.

 

e.
The Company acknowledges and agrees, and the Holder represents and agrees, that the Holder has participated in the negotiation
hereof with the advice of its own counsel and advisors.

 

f.
In the event of any action at law or in equity to enforce or interpret the terms of this Agreement or any of the other transaction
documents, including but not limited to the Convertible Note, the Company agrees that it will pay the Holder’s attorneys’
fees and expenses.

 

***********************

 

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EVIO
                                         July 2019 Exchange Agreement

Page
5 of 5

 

IN
WITNESS WHEREOF, this Agreement is executed as of the date first set forth above.

 

	COMPANY:	 
	Evio,
    Inc.	 
	 	 	 
	By:	 	 
	Name:	William
    Waldrop	 
	Title:	CEO	 
	 	 	 
	HOLDER:	 
	Gemini
    Special Opportunities Fund, LP	 
	 	 	 
	By:	 	 
	Name:	Steven
    Winters	 
	Title:	President	 

 

    	5

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