Document:

Lithium Exploration Group, Inc. - Exhibit 10.133 - Filed by newsfilecorp.com

THIS WARRANT AND THE SHARES ISSUABLE UPON EXERCISE OF THIS
WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.
THIS WARRANT AND THE SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE
SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT OR APPLICABLE EXEMPTION OR SAFE HARBOR PROVISION.

COMMON STOCK PURCHASE WARRANT 

LITHIUM EXPLORATION GROUP, INC. 

	Warrant Shares: A number of 	Initial Issue Date: August 11, 2017 
	warrant shares having a maximum 	 
	aggregate purchase price of 	 
	$200,000. 	 

Initial Exercise Price: $0.0035 

                          THIS
COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value
received, Blue Citi LLC, or its assigns (the “Holder”) is entitled, upon
the terms and subject to the limitations on exercise and the conditions
hereinafter set forth, at any time on or after the date hereof (the “Initial
Exercise Date”) and on or prior to the close of business on the five (5)
year anniversary of the Initial Exercise Date (as subject to adjustment
hereunder, the “Termination Date”), to subscribe for and purchase from
Lithium Exploration Group, Inc., a Nevada corporation (the “Company”), a
number of warrant shares having a maximum aggregate purchase price of $200,000
(the “Warrant Shares”) of common stock of the Company (the “Common
Stock”). The purchase price of one share of Common Stock under this Warrant
shall be equal to the Exercise Price, as defined in Section 1.2.

ARTICLE 1 EXERCISE RIGHTS 

            The
Holder will have the right to exercise this Warrant to purchase shares of Common
Stock as set forth below. Capitalized terms used and not otherwise defined
herein shall have the meanings set forth in that certain Debt Settlement
Agreement dated August 11, 2017 between the Company and the Holder (the
“Agreement”). 

            1.1        Exercise
of Warrant. Exercise of the purchase rights represented by this Warrant may
be made, in whole or in part, from and after the Initial Exercise Date, and then
at any time, by delivery to the Company (or such other office or agency of the
Company as it may designate by notice in writing to the registered Holder at the
address of the Holder appearing on the books of the Company) of a duly executed
facsimile or emailed copy of the Notice of Exercise form annexed hereto. Within
three (3) business days following the date of exercise as aforesaid, the Holder
shall deliver the aggregate Exercise Price for the shares specified in the
applicable Notice of Exercise by wire transfer or check drawn on a United States
bank unless the cashless exercise procedure specified in Section 1.3 below is
specified in the applicable Notice of Exercise. Partial exercises of this
Warrant resulting in purchases of a portion of the total number of Warrant
Shares available hereunder shall have the effect of lowering the outstanding
number of Warrant Shares purchasable hereunder in an amount equal to the
applicable number of Warrant Shares purchased. The Holder and the Company shall
maintain records showing the number of Warrant Shares purchased and the date of
such purchases. The Company shall deliver any objection to any Notice of
Exercise form within 24 hours of receipt of such notice. The Holder and any
assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the
provisions of this paragraph, following the purchase of a portion of the Warrant
Shares hereunder, the number of Warrant Shares available for purchase hereunder
at any given time may be less than the amount stated on the face hereof. 

1 

            1.2       
  Exercise Price. The exercise price per share of Common Stock under this
Warrant shall be $0.0035 per share, subject to adjustment hereunder (the
“Exercise Price”). The aggregate Exercise Price is $200,000. If the
closing price of the Company’s common stock (as quoted on the OTC Markets) falls
to $0.0005 or less for a period of 3 consecutive days during the warrant
exercise period, the Exercise Price shall be adjusted to 400% of the lowest
trading price during such 3 day period. 

            1.3       
Cashless Exercise. If at any time after the earlier of (i) the six (6)
month anniversary of the date of the Agreement and (ii) the completion of the
then-applicable holding period required by Rule 144, or any successor provision
then in effect, there is no effective Registration Statement registering, or no
current prospectus available for, the resale of the Warrant Shares by the
Holder, then this Warrant may also be exercised, in whole or in part, at such
time by means of a “cashless exercise” in which the Holder shall be entitled to
receive a number of Warrant Shares equal to the quotient obtained by dividing
[(A-B) (X)] by (A), where: 

	 	(A) =	
      the VWAP on the trading day immediately preceding the
      date on which Holder elects to exercise this Warrant by means of a
      “cashless exercise,” as set forth in the applicable Notice of Exercise;
      

	 	 	     
	 	(B) =	
      the Exercise Price of this Warrant, as adjusted
      hereunder; and 

	 	 	     
	 	(X) =	
      the number of Warrant Shares that would be issuable upon
      exercise of this Warrant in accordance with the terms of this Warrant if
      such exercise were by means of a cash exercise rather than a cashless
      exercise. 

            1.4       
Delivery of Warrant Shares. Warrant Shares purchased hereunder will be
delivered to Holder by 2:30 pm EST within two (2) business days of Notice of
Exercise by “DWAC/FAST” electronic transfer (such date, the “Warrant Share
Delivery Date”). For example, if Holder delivers a Notice of Exercise to the
Company at 5:15 pm eastern time on Monday January 1st, the Company’s
transfer agent must deliver shares to Holder’s broker via “DWAC/FAST” electronic
transfer by no later than 2:30 pm eastern time on Wednesday January
3rd. The Warrant Shares shall be deemed to have been issued, and
Holder or any other person so designated to be named therein shall be deemed to
have become a holder of record of such shares for all purposes, as of the date
of delivery of the Notice of Exercise. Holder may assess penalties or liquidated
damages (both referred to herein as “penalties”) as follows. For each exercise,
in the event that shares are not delivered by the third business day (inclusive
of the day of exercise), the Company shall pay the Holder in cash a penalty of
$2,000 per day for each day after the third business day (inclusive of the day
of exercise) until share delivery is made. The Company will not be subject to
any penalties once its transfer agent correctly processes the shares to the DWAC
system. The Company will make its best efforts to deliver the Warrant Shares
to the Holder the same day or next day. 

            1.5       
Delivery of Warrant. The Holder shall not be required to physically
surrender this Warrant to the Company. If the Holder has purchased all of the
Warrant Shares available hereunder and the Warrant has been exercised in full,
this Warrant shall automatically be cancelled without the need to surrender the
Warrant to the Company for cancellation. If this Warrant shall have been
exercised in part, the Company shall, at the request of Holder and upon
surrender of this Warrant, at the time of delivery of the Warrant Shares,
deliver to the Holder a new Warrant evidencing the rights of the Holder to
purchase the unpurchased Warrant Shares called for by this Warrant, which new
Warrant shall in all other respects be identical with this Warrant and, for purposes of Rule 144,
shall tack back to the original date of this Warrant. 

2 

            1.6       
Warrant Exercise Rescission Rights. For any reason in Holder’s sole
discretion, including if the Warrant Shares are not delivered by DWAC/FAST
electronic transfer or in accordance with the timeframe stated in Section 1.4,
or for any other reason, Holder may, at any time prior to selling those Warrant
Shares rescind such exercise, in whole or in part, in which case the Company
must, within three (3) days of receipt of notice from the Holder, repay to the
Holder the portion of the exercise price so rescinded and reinstate the portion
of the Warrant and equivalent number of Warrant Shares for which the exercise
was rescinded and, for purposes of Rule 144, such reinstated portion of the
Warrant and the Warrant Shares shall tack back to the original date of this
Warrant. If Warrant Shares were issued to Holder prior to Holder’s rescission
notice, upon return of payment from the Company, Holder will, within three (3)
days of receipt of payment, commence procedures to return the Warrant Shares to
the Company. 

            1.7       
Compensation for Buy-In on Failure to Timely Deliver Certificates Upon
Exercise. In addition to any other rights available to the Holder, if the
Company fails to cause its transfer agent to transmit to the Holder the Warrant
Shares on or before the Warrant Share Delivery Date, and if after such date the
Holder is required by its broker to purchase (in an open market transaction or
otherwise) or the Holder’s brokerage firm otherwise purchases, shares of Common
Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares
which the Holder anticipated receiving upon such exercise (a “Buy-In”),
then the Company shall (A) pay in cash to the Holder the amount, if any, by
which (x) the Holder’s total purchase price (including brokerage commissions and
other fees, if any) for the shares of Common Stock so purchased exceeds (y) the
amount obtained by multiplying (1) the number of Warrant Shares that the Company
was required to deliver to the Holder in connection with the exercise at issue
times (2) the price at which the sell order giving rise to such purchase
obligation was executed, and (B) at the option of the Holder, either (x)
reinstate the portion of the Warrant and equivalent number of Warrant Shares for
which such exercise was not honored (in which case such exercise shall be deemed
rescinded), (y) deliver to the Holder the number of shares of Common Stock that
would have been issued had the Company timely complied with its exercise and
delivery obligations hereunder, or (z) pay in cash to the Holder the amount
obtained by multiplying (1) the number of Warrant Shares that the Company was
required to deliver to the Holder in connection with the exercise at issue times
(2) the price at which the sell order giving rise to such purchase obligation
was executed. The Holder shall provide the Company written notice indicating the
amounts payable to the Holder in respect of the Buy-In and, upon request of the
Company, evidence of the amount of such loss. 

            1.8       
Make-Whole for Market Loss after Exercise. At the Holder’s election, if
the Company fails for any reason to deliver to the Holder the Warrant Shares by
DWAC/FAST electronic transfer (such as by delivering a physical certificate) and
if the Holder incurs a Market Price Loss, then at any time subsequent to
incurring the loss the Holder may provide the Company written notice indicating
the amounts payable to the Holder in respect of the Market Price Loss and the
Company must make the Holder whole as follows: 

Market Price Loss = [(High trade price
on the day of exercise) x (Number of Warrant Shares)] – [(Sales price realized
by Holder) x (Number of Warrant Shares)] 

The Company must pay the Market Price
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. 

            1.9        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 Warrant Shares by the Warrant Share
Delivery Date 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: 

3 

Failure to Deliver Loss = [(High trade
price at any time on or after the day of exercise) x (Number of Warrant 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.

            1.10       
Choice of Remedies. Nothing herein, including, but not limited to,
Holder’s electing to pursue its rights under Sections 1.8 or 1.9 of this
Warrant, shall limit a Holder’s right to pursue any other remedies available to
it hereunder, at law or in equity including, without limitation, a decree of
specific performance and/or injunctive relief with respect to the Company’s
failure to timely deliver shares of Common Stock upon exercise of the Warrant as
required pursuant to the terms hereof. 

            1.11        Charges,
Taxes and Expenses. Issuance of Warrant Shares shall be made without charge
to the Holder for any issue or transfer tax or other incidental expense in
respect of the issuance of such shares, all of which taxes and expenses shall be
paid by the Company, and such Warrant Shares shall be issued in the name of the
Holder or in such name or names as may be directed by the Holder. The Company
shall pay all transfer agent fees required for same-day processing of any Notice
of Exercise. 

            1.12       
Holder’s Exercise Limitations. Unless otherwise agreed in writing by both
the Company and the Holder, at no time will the Holder exercise any amount of
this Warrant to purchase Common Stock that would result in the Holder owning
more than 4.99% of the Common Stock outstanding of the Company (the
“Beneficial Ownership Limitation”). Upon the written or oral request of
Holder, the Company shall within twenty-four (24) hours confirm orally and in
writing to the Holder the number of shares of Common Stock then outstanding.

ARTICLE 2 ADJUSTMENTS 

            2.1       
Stock Dividends and Splits. If the Company, at any time while this
Warrant is outstanding: (i) pays a stock dividend or otherwise makes a
distribution or distributions on shares of its Common Stock or any other equity
or equity equivalent securities payable in shares of Common Stock (which, for
avoidance of doubt, shall not include any shares of Common Stock issued by the
Company upon exercise of this Warrant), (ii) subdivides outstanding shares of
Common Stock into a larger number of shares, (iii) combines (including by way of
reverse stock split) outstanding shares of Common Stock into a smaller number of
shares or (iv) issues by reclassification of shares of the Common Stock any
shares of capital stock of the Company, then in each case the Exercise Price
shall be multiplied by a fraction of which the numerator shall be the number of
shares of Common Stock (excluding treasury shares, if any) outstanding
immediately before such event and of which the denominator shall be the number
of shares of Common Stock outstanding immediately after such event, and the
number of shares issuable upon exercise of this Warrant shall be proportionately
adjusted such that the aggregate Exercise Price of this Warrant shall remain
unchanged. Any adjustment made pursuant to this Section 2.1 shall become
effective immediately after the record date for the determination of
stockholders entitled to receive such dividend or distribution and shall become
effective immediately after the effective date in the case of a subdivision,
combination or re-classification. 

            2.2       
Pro Rata Distributions. If the Company, at any time while this Warrant is
outstanding, shall distribute to all holders of Common Stock (and not to the
Holder) evidences of its indebtedness or assets (including cash and cash dividends) or rights or
warrants to subscribe for or purchase any security other than the Common Stock,
then in each such case the Exercise Price shall be adjusted by multiplying the
Exercise Price in effect immediately prior to the record date fixed for
determination of stockholders entitled to receive such distribution by a
fraction of which the denominator shall be the VWAP determined as of the record
date mentioned above, and of which the numerator shall be such VWAP on such
record date less the then per share fair market value at such record date of the
portion of such assets or evidence of indebtedness or rights or warrants so
distributed applicable to one outstanding share of the Common Stock as
determined by the Board of Directors in good faith. In either case the
adjustments shall be described in a statement provided to the Holder of the
portion of assets or evidences of indebtedness so distributed or such
subscription rights applicable to one share of Common Stock. Such adjustment
shall be made whenever any such distribution is made and shall become effective
immediately after the record date mentioned above. 

4 

            2.3       
Notice to Holder. Whenever the Exercise Price is adjusted pursuant to any
provision of this Article 2, the Company shall promptly notify the Holder (by
written notice) setting forth the Exercise Price after such adjustment and any
resulting adjustment to the number of Warrant Shares and setting forth a brief
statement of the facts requiring such adjustment. 

ARTICLE 3 COMPANY COVENANTS 

            3.1        Reservation
of Shares. As of the issuance date of this Warrant and for the remaining
period during which the Warrant is exercisable, the Company will reserve from
its authorized and unissued Common Stock a sufficient number of shares to
provide for the issuance of Warrant Shares upon the full exercise of this
Warrant. The Company represents that upon issuance, such Warrant Shares will be
duly and validly issued, fully paid and non-assessable. The Company agrees that
its issuance of this Warrant constitutes full authority to its officers, agents
and transfer agents who are charged with the duty of executing and issuing
shares to execute and issue the necessary Warrant Shares upon the exercise of
this Warrant. No further approval or authority of the stockholders of the Board
of Directors of the Company is required for the issuance of the Warrant Shares.

            3.2       
No Adverse Actions. Except and to the extent as waived or consented to by
the Holder, the Company shall not by any action, including, without limitation,
amending its certificate of incorporation or through any reorganization,
transfer of assets, consolidation, merger, dissolution, issue or sale of
securities or any other voluntary action, avoid or seek to avoid the observance
or performance of any of the terms of this Warrant, but will at all times in
good faith assist in the carrying out of all such terms and in the taking of all
such actions as may be necessary or appropriate to protect the rights of Holder
as set forth in this Warrant against impairment. Without limiting the generality
of the foregoing, the Company will (i) not increase the par value of any Warrant
Shares above the amount payable therefor upon such exercise immediately prior to
such increase in par value, (ii) take all such action as may be necessary or
appropriate in order that the Company may validly and legally issue fully paid
and non-assessable Warrant Shares upon the exercise of this Warrant and (iii)
use commercially reasonable efforts to obtain all such authorizations,
exemptions or consents from any public regulatory body having jurisdiction
thereof, as may be, necessary to enable the Company to perform its obligations
under this Warrant. 

ARTICLE 4 MISCELLANEOUS 

            4.1        Representation
by the Holder. The Holder, by the acceptance hereof, represents and warrants
that it is acquiring this Warrant and, upon any exercise hereof, will acquire
the Warrant Shares issuable upon such exercise, for its own account and not with
a view to or for distributing or reselling such Warrant Shares or any part thereof in violation of the
Securities Act or any applicable state securities law, except pursuant to sales
registered or exempted under the Securities Act. 

5 

            4.2       
Transferability. Subject to compliance with any applicable securities
laws, this Warrant and all rights hereunder (including, without limitation, any
registration rights) are transferable, in whole or in part, by a written
assignment of this Warrant duly executed by the Holder or its agent or attorney.
If necessary to obtain a new warrant for any assignee, the Company, upon
surrender of this Warrant, shall execute and deliver a new Warrant or Warrants
in the name of the assignee or assignees, as applicable, and in the denomination
or denominations specified in such instrument of assignment, and shall issue to
the assignor a new Warrant evidencing the portion of this Warrant not so
assigned, and such new Warrants, for purposes of Rule 144, shall tack back to
the original date of this Warrant. The Warrant, if properly assigned in
accordance herewith, may be exercised by a new holder for the purchase of
Warrant Shares without having a new Warrant issued. 

            4.3       
Assignability. The Company may not assign this Warrant. This Warrant will
be binding upon the Company and its successors, and will inure to the benefit of
the Holder and its successors and assigns, and may be assigned by the Holder to
anyone of its choosing without the Company’s approval. 

            4.4       
Notices. Any notice required or permitted hereunder must be in writing
and either personally served, sent by facsimile or email transmission, or sent
by overnight courier. Notices will be deemed effectively delivered at the time
of transmission if by facsimile or email, and if by overnight courier the
business day after such notice is deposited with the courier service for
delivery. 

            4.5        Governing
Law. This Warrant will be governed by, and construed and enforced in
accordance with, the laws of the State of Nevada, without regard to the conflict
of laws principles thereof. Any action brought by either party against the other
concerning the transactions contemplated by this Warrant shall be brought only
in the state courts of Nevada or in the federal courts located in the State of
Nevada. Both parties and the individuals signing this Agreement agree to submit
to the jurisdiction of such courts. 

            4.6       
Delivery of Process by Holder to the Company. In the event of any action
or proceeding by Holder against the Company, and only by Holder against the
Company, service of copies of summons and/or complaint and/or any other process
which may be served in any such action or proceeding may be made by Holder via
overnight delivery service such as FedEx or UPS, process server, or by personal
delivery of a copy of such process to the Company at its last known address or
to its last known attorney set forth in its most recent SEC filing. 

            4.7       
No Rights as Stockholder Until Exercise. This Warrant does not entitle
the Holder to any voting rights, dividends or other rights as a stockholder of
the Company prior to the exercise hereof as set forth in Section 1.1. So long as
this Warrant is unexercised, this Warrant carries no voting rights and does not
convey to the Holder any “control” over the Company, as such term may be
interpreted by the SEC under the Securities Act or the Exchange Act, regardless
of whether the price of the Company’s Common Stock exceeds the Exercise Price.

            4.8        Limitation
of Liability. No provision hereof, in the absence of any affirmative action
by the Holder to exercise this Warrant to purchase Warrant Shares, and no
enumeration herein of the rights or privileges of the Holder, shall give rise to
any liability of the Holder for the purchase price of any Common Stock or as a
stockholder of the Company, whether such liability is asserted by the Company or
by creditors of the Company. 

6 

            4.9        Attorney
Fees. In the event any attorney is employed by either party to this Warrant
with regard to any legal or equitable action, arbitration or other proceeding
brought by such party for the enforcement of this Warrant or because of an
alleged dispute, breach, default or misrepresentation in connection with any of
the provisions of this Warrant, the prevailing party in such proceeding will be
entitled to recover from the other party reasonable attorneys’ fees and other
costs and expenses incurred, in addition to any other relief to which the
prevailing party may be entitled. 

            4.10        Opinion
of Counsel. In the event that an opinion of counsel is needed for any matter
related to this Warrant, Holder has the right to have any such opinion provided
by its counsel. Holder also has the right to have any such opinion provided by
the Company’s counsel. 

            4.11       
Nonwaiver. No course of dealing or any delay or failure to exercise any
right hereunder on the part of Holder shall operate as a waiver of such right or
otherwise prejudice the Holder’s rights, powers or remedies. 

            4.12        Amendment
Provision. The term “Warrant” and all references thereto, as used throughout
this instrument, means this instrument as originally executed, or if later
amended or supplemented, then as so amended or supplemented. 

            4.13       
No Shorting. Holder agrees that so long as this Warrant remains
unexercised in whole or in part, Holder will not enter into or effect any “short
sale” of the common stock or hedging transaction which establishes a net short
position with respect to the common stock of the Company. The Company
acknowledges and agrees that as of the date of delivery to the Company of a
fully and accurately completed Notice of Exercise, Holder immediately owns the
common shares described in the Notice of Exercise and any sale of those shares
issuable under such Notice of Exercise would not be considered short sales. 

            IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by its
officer thereunto duly authorized as of the date first above indicated. 

LITHIUM EXPLORATION GROUP, INC.

 

	 	By:	    
	 	 	Alexander Walsh 
	 	 	President 

 

HOLDER: 

BLUE CITI LLC 

 

	 	By:	  
	 	 	Robert Malin 
	 	 	President 

7 

NOTICE OF EXERCISE 

TO:     LITHIUM EXPLORATION GROUP, INC.

                            (1)
The undersigned hereby elects to purchase ________ Warrant Shares of the Company
pursuant to the terms of the attached Warrant issued on August 11, 2017 to Blue
Citi LLC (only if exercised in full), and tenders herewith payment of the
exercise price in full, together with all applicable transfer taxes, if any.

                            (2)
Payment shall take the form of (check applicable box): 

[   ] in lawful money of the
United States; or 

[   ] the cancellation of
such number of Warrant Shares as is necessary, in accordance with the formula
set forth in Section 1.3, to exercise this Warrant with respect to the maximum
number of Warrant Shares purchasable pursuant to the cashless exercise procedure
set forth in Section 1.3. 

                            (3)
Please issue a certificate or certificates representing said Warrant Shares in
the name of the undersigned or in such other name as is specified below: 

_______________________________

The Warrant Shares shall be delivered to the following DWAC
Account Number: 

_______________________________

_______________________________

_______________________________

                            (4)
Accredited Investor. The undersigned is an “accredited investor” as
defined in Regulation D promulgated under the Securities Act of 1933, as
amended. 

[SIGNATURE OF HOLDER] 

 

Name: _______________________________________

Date: ________________________________________Lithium Exploration Group, Inc. - Exhibit 10.134 - Filed by newsfilecorp.com

DEBT SETTLEMENT AGREEMENT 

THIS DEBT SETTLEMENT AGREEMENT is made as of the 11th
day of August, 2017 

AMONG: 

  
    
      
        Blue Citi, LLC with an address
          at

          ____________________________________ 

        (the "Company") 

      

    

  

AND: 

  
    
      
        LITHIUM EXPLORATION GROUP, INC., a Nevada corporation
          with offices at 4635 S. Lakeshore Dr. Ste 200, Tempe, AZ 85282

      

    

  

(the "Debtor")

WHEREAS: 

	A. 	
      As at the date hereof, the Debtor is indebted to the
      Company in the amount of US$2,419,206.95 (the "Loans"), in
      principal , pursuant to the terms of various convertible notes
      (collectively, the "Notes") as outlined in Schedule "A";
  and

	 	 
	B. 	
      The Company and the Debtor have agreed to forbear
      enforcement of the Loans and enter into an amended Note Agreement (the
      "Amended Note Agreement"), in form attached hereto as Schedule "B"
      to provide for certain amendments to the terms and conditions of the Notes
      and pursuant to the exchange of certain covenants specified
  herein.

NOW THEREFORE THIS DEBT SETTLEMENT AGREEMENT WITNESSETH
that in consideration of the mutual covenants and agreements among the
parties and the exchange of covenants, representations and warranties pursuant
to the Amended Note Agreement that has been signed by each of the parties to
each of the other parties, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows: 

	1. 	
      The Debtor hereby agrees to:

	 	 	 
		(a) 	
      deliver herewith the Amended Note Agreement, to be dated
      and effective as at August 11, 2017 as attached as Schedule "A" to this
      Debt Settlement Agreement;

	 	 	 
		(b) 	
      issue concurrently herewith to the Company $400,000
      common stock share purchase warrants (the "Warrants"), with
      $200,000 of the Warrants exercisable at $0.0025 per additional Common
      Share, and the remaining $200,000 of the warrants exercisable at $0.0035
      per additional Common share (subject to certain closing price
      adjustments), or pursuant to “cashless exercise” provisions, for a period
      of five years.

	2. 	
      The Company hereby agrees to forebear on enforcing the
      current Notes;

	 	 
	3. 	
      The parties hereto confirm that the Amended Note
      Agreement shall come into effect upon
execution;

	4. 	
      This Debt Settlement Agreement shall enure to the benefit
      of and be binding upon the parties and their respective successors and
      permitted assigns.

	 	 
	5. 	
      Time is of the essence.

	 	 
	6. 	
      This Debt Settlement Agreement may be executed and
      delivered in any number of counterparts, by facsimile copy, by electronic
      or digital signature or by other written acknowledgment of consent and
      agreement to be legally bound by its terms. Each counterpart when executed
      and delivered will be considered an original but all counterparts taken
      together shall constitute one and the same
instrument.

IN WITNESS WHEREOF the parties hereto have hereunto
executed this Debt Settlement Agreement by its officers duly authorized on their
behalf effective as of the day and year first above written. 

Blue Citi, LLC 

_________________________________________
Name: 
Title:

 

SCHEDULE "A" 

	Funding Date 	Note Amount 	Balance (Principal amount) 	  
	9/9/2015 	$30,000.00 	$30,000.00 	  
	8/12/2016 	$46,750.00 	$46,750.00 	  
	9/09/2016 	125,000.00 	$54,108.00 	  
	9/27/2016 	$ 64,900.00 	$64,900.00 	  
	10/10/2016 	$102,368.75 	$102,368.75 	  
	10/27/2016 	$48,400.00 	$48,400.00 	  
	11/22/2016 	$29,700.00 	$29,700.00 	  
	12/23/2016 	$45,100.00 	$ 45,100.00 	  
	1/17/2017 	$51,500.00 	$51,150.00 	  
	1/26/2017 	$116,600.00 	$116,600.00 	  
	2/3/2017 	$80,850.00 	$80,850.00 	  
	3/1/2017 	$181,209.00 	$181,209.00 	  
	3/20/2017 	$85,800.00 	$85,800.00 	  
	4/4/2017 	$141,627.20 	$141,627.20 	  
	5/2/2017 	$28,600.00 	$28,600.00 	  
	5/15/2017 	$ 344,650.00 	$344,650.00 	  
	5/15/2017 	$ 344,650.00 	$344,650.00 	  
	6/8/2017 	$85,800.00 	$85,800.00 	  
	6/8/2017 	$85,800.00 	$85,800.00 	  
	  	  	  	  
	3/15/2014 	$550,000.00 	$311,144.00 	9/19/2016 
	4/27/2016 	$140,000.00 	$ 140,000.00 	9/19/2016 

SCHEDULE "B" 

FURTHER AMENDED CONVERTIBLE LOAN AGREEMENT is made as of
the 11th day of August, 2017. 

BETWEEN: 

  
    
      
        Lithium Exploration Group, Inc., a company incorporated
          under the laws of the State of Nevada, having an office at 4635 S. Lakeshore Dr.
          Ste 200, Tempe, AZ 85282

         (hereinafter called, the "Borrower") 

      

    

  

AND: 

  
    
      
        Blue Citi, LLC with and address at 

        _____________

        (hereinafter called, the "Lender") 

      

    

  

WHEREAS:

	A. 	
      The Lender has, pursuant to various convertible notes
      (collectively, the "Note Agreements"), advanced funds to the
      Borrower, in the principal amount of $2,419,206.95 as at the date hereof;
      and

	 	 
	B. 	
      The Borrower and the Lender now wish to make certain
      further amendments to the provisions of the Note
  Agreements.

NOW THEREFORE THIS THIRD AMENDMENT TO CONVERTIBLE LOAN
AGREEMENT WITNESSETH that in consideration of these premises and for other
good and valuable consideration, the receipt and sufficiency of which is also
hereby acknowledged by each of the parties hereto, the parties hereto hereby
agree as follows: 

	1. 	
      All capitalized terms not otherwise defined herein shall
      have the meanings set out in the Note Agreements.

	 	 	 
	2. 	
      As an extension/forbearance fee the Borrower shall issue
      to the Lender $400,000.00 Common Share purchase warrants with the
      following terms:

	 	 	 
		(a) 	
      1⁄2 of the warrants exercisable at $0.0025 per additional
      Common Share;

	 	 	 
		(b) 	
      the remaining 1⁄2 of the warrants exercisable at $0.0035
      per additional Common Share;

	 	 	 
		(c) 	
      the warrants shall provide for “cashless exercise”
      provisions;

	 	 	 
		(d) 	
      the terms of the warrants shall be for a period of 5
      years from the date hereof; and

	 	(e) 	
      if the Borrower’s shares of common stock closes at or
      below .0005 for a period of 3 days the above warrant exercise prices
      adjust to 300% and 400% of the lowest trading
price).

	3. 	
      The conversion price related to the discount amount under
      the Note Agreements is amended from a 50% discount to a 25%
    discount..

	 	 
	4. 	
      In all other respects the terms and conditions of the
      Note Agreements shall continue in full force and effect and the Lender
      hereby agrees and confirms that the Note Agreements is in good standing
      and that the Borrower is not in default of any of its obligations under
      the Note Agreements.

	 	 
	5. 	
      Each of the parties hereto agrees to do and/or execute
      all such further and other acts, deeds, things, devices, documents and
      assurances as may be required in order to carry out the true intent and
      meaning of this Amending Agreement.

	 	 
	6. 	
      This Amending Agreement shall enure to the benefit of and
      be binding upon the parties hereto and each of their successors and
      permitted assigns, as the case may be.

	 	 
	7. 	
      This Amending Agreement may be executed in counterparts
      and by electronic or facsimile transmission, each of which shall be deemed
      to be an original and all of which shall constitute one and the same
      document.

[Signature Page Follows] 

IN WITNESS WHEREOF, the parties hereto have executed
this Amending Agreement as of the day and year first above written. 

Blue Citi, LLC 

	By: 	  	 
	Its: 	President and CEO 	 

LITHIUM EXPLORATION GROUP, INC.

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