Document:

Exhibit 10.1

 

PURCHASE AND SALE AGREEMENT

 

THIS PURCHASE AND SALE AGREEMENT (this “Agreement”)
is made and entered into this 5th day of November, 2021 (the “Effective Date”), by and between Plateau Ventures LLC,
a Utah limited liability company, having a business address at 4691 Luna Circle, Moab, UT 84532 (“Seller”), and BoxScore
Brands, Inc., a Delaware corporation, having a business address of 3275 South Jones Boulevard, Suite 104, Las Vegas, NV 89146, or its
designee (collectively the “Buyer”).

 

Seller and Buyer agree as follows:

 

		1.	Sale and Purchase.

 

On and subject to the terms
and conditions set forth in this Agreement, Seller shall sell, convey, transfer, and deliver to Buyer, and Buyer shall purchase from Seller,
all of Seller’s right, title and interest in and to the unpatented mining claims situated in San Juan County, Utah, described on
Exhibit A, together with all rights and privileges appurtenant thereto (the “Claims”).

 

		2.	Title Conveyance.

 

Title to the Claims shall
be conveyed to Buyer by a Quit Claim Deed duly executed, acknowledged and otherwise in proper form for recording, substantially in the
form attached here to as Exhibit B. (the “Deed”).

 

		3.	Purchase Price and Manner of Payment.

 

Buyer shall pay to Seller,
and Seller shall accept from Buyer, the purchase price (the “Purchase Price”) in the sum of $100,000.00, in cash or
otherwise immediately available funds, which Purchase Price shall be payable on Seller’s execution of the Deed.

 

		4.	Royalty.

 

In addition to the Purchase
Price, Buyer agrees to pay Seller, a royalty equal to two (2%) percent (the “Royalty Payment”) of the net revenues
(calculated in accordance with United States generally accepted accounting principles) that Buyer receives from the sale of all minerals
(including but not limited to lithium) (“Royalty Minerals”) from the Claims that are sold by Buyer. For all Royalty
Minerals sold during each calendar quarter, Buyer shall pay royalties to Seller accrued during the prior calendar quarter on or before
the last business day of following calendar quarter (for example, Buyer shall pay the Royalty Payment accrued during January through March
by June 30 of any given calendar year). Royalty Payments shall be deemed earned by Seller only upon receipt of payment by Buyer from the
Sale of Royalty Minerals, and not at the time of sale. Royalty Payments shall begin accruing on January 1, 2022.

 

     

     

    

 

		5.	Post-Closing Obligation of Seller.

 

		(a)	Seller is in the process of locating and recording the Claims in accordance with federal and state law.
Seller shall complete the location, recording, and registration of the Claims and pay all applicable fees pursuant to federal and state
law within the time frames set by applicable laws, and shall use reasonable diligence to pursue such registration promptly.

 

		(b)	If Seller fails to locate and record the claims as required by law and paragraph 4(a), Seller shall, and
Seller Principal shall cause Seller to, refund the Purchase Price within three (3) business days’ Notice from Buyer.

 

		6.	Representations and Warranties of Seller and Seller Principal (jointly and severally).

 

		(a)	Neither Seller nor Seller Principal has assigned or conveyed any interest in the Claims to any other party.
Seller has the right to convey the Claims pursuant to the terms of this Agreement. No person (other than Buyer pursuant to this Agreement)
has a right to acquire any interest in the Claims.

 

		(b)	Seller and Seller Principal have complied, and will continue to comply, with applicable federal laws and
regulations that govern the process for locating and recording unpatented mining claims on federal lands.

 

		(c)	The federal lands on which the Claims are being located and recorded are open to mineral entry.

 

		(d)	There are no senior mining claims on the federal land where Seller is locating and recording the Claims.

 

		7.	Assignment.

 

This Agreement may be assigned
by Buyer, in whole or in part, without the prior written consent of Seller.

 

		8.	Time of the Essence.

 

The date and time of Closing
and all dates and times specified for performance by Seller and Buyer under this Agreement are hereby agreed to be of the essence of this
Agreement.

 

		9.	Survival of Terms.

 

Unless expressly provided
for in this Agreement, no representations, warranties, terms or provisions contained in this Agreement shall survive the Closing and delivery
of the Deed, or any termination of this Agreement.

 

		10.	Binding Effect.

 

This Agreement shall be binding
upon and inure to the benefit of the parties hereto and their respective successors and assigns.

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		11.	Entire Agreement.

 

This Agreement (including
the Exhibits attached hereto which are by this reference made a part hereof) contains the entire agreement between the parties and all
understandings and agreements heretofore had between the parties hereto are merged into this Agreement.

 

		12.	Notices.

 

All notices to be given by
either party to the other, unless otherwise directed, shall be in writing, shall be served upon either party in person, by delivery by
recognized overnight courier or by depositing such notice in the United States mails, properly addressed and directed to the party to
receive the same, certified mail, return-receipt-requested, as follows or by electronic transmission (facsimile or electronic mail) provided
that the original is also sent by personal delivery, overnight delivery or by mail in the manner previously described no later than the
business day following the date of the electronic transmission, whereby delivery is deemed to have occurred on the day on which the electronic
transmission is complete:

 

TO BUYER:

 

BoxScore Brands, Inc.

3275 South Jones Blvd., Suite
104

Las Vegas, NV 89146

Email: andrew@boxscore.com

 

WITH A COPY TO:

 

Albert A. Acken, Esq.

Jennings, Strouss & Salmon, P.L.C.

One East Washington Street, Suite 1900

Phoenix, AZ 85004-2554

Email: aacken@jsslaw.com

 

TO SELLER:

 

Plateau Ventures LLC

4691 Luna Circle

Moab, UT 84532

Email: __________________________

 

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		13.	Governing Law.

 

This Agreement shall be governed
by and construed in accordance with the laws of the State of Nevada without regard to such State's provisions for conflicts of law.

 

		14.	Counterparts.

 

This Agreement may be executed
simultaneously in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

 

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IN WITNESS WHEREOF, the parties hereto have caused
this Agreement to be executed the day and year first above written.

 

	 	SELLER:
	 	 
	 	PLATEAU VENTURES LLC
	 	 	 
	 	By: 	/s/ Gauin Haarrison
	 	Name: 	Gauin Haarrison
	 	Title:	Sale Manager Member
	 	 	 
	 	BUYER:
	 	 
	 	BOXSCORE BRANDS, INC.
	 	 	 
	 	By: 	/s/Andrew Boutsikakisa
	 	Name:  	Andrew Boutsikakisa
	 	Title: 	CEO

 

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Exhibit A

 

Legal Description MAP

 

    6Exhibit 10.2

 

THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER
ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED OR DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER ANY APPLICABLE STATE SECURITIES LAWS, OR AN OPINION OF COUNSEL SATISFACTORY TO COUNSEL TO THE MAKER THAT AN EXEMPTION FROM REGISTRATION
UNDER ANY APPLICABLE STATE SECURITIES LAWS IS AVAILABLE.

 

THIS NOTE IS ONE OF A SERIES OF CONVERTIBLE
NOTES OF THE SAME TERMS AND TENOR THAT MAY BE ISSUED BY MAKER UP TO AN AGGREGATE OF $2,500,000.

 

BoXScore
Brands, Inc 

 

convertible
PROMISSORY NOTE (the “Note”)

 

	$150,000.00	Date:  November 2, 2021

 

FOR VALUE RECEIVED, the undersigned
Maker, BoxScore Brands, Inc., a Delaware corporation (the “Maker” or the “Company”), promises to pay to
the order of Cobrador Multi-Strategy Partners, LP, (the “Holder”), the principal sum of One Hundred Fifty Thousand USD ($150,000.00)
(the “Principal Amount”). Interest on the Note may be paid in cash or in shares of Common Stock (such amount to be converted
at the Conversion Price (as defined below)). If interest on the Note is paid in cash, it will accrue at nine and a half (9.5%) percent
per annum, compounding annually and computed on the basis of a 365-day year, on any outstanding balance on the Note, subject to adjustment
as provided in the Note. If interest on the Note is paid in shares of Common Stock, it will accrue at fifteen (15%) percent per annum,
compounding annually and computed on the basis of a 365-day year, on any outstanding balance on the Note, subject to adjustment as provided
in the Note. It shall be the Buyer’s option whether interest on the Note is paid in cash or in shares of Common Stock. Furthermore,
if the Company is delinquent by more than 10 days in filing any filings or other documents required to be filed by the Securities Act
of 1933 or the Securities Exchange Act of 1934, and in each case the rules and regulations promulgated thereunder, interest on the Note
shall increase to fifteen (15%) percent per annum, compounding annually and computed on the basis of a 365-day year. Capitalized terms
used by not defined herein shall have the meanings ascribed to them in that certain Securities Purchase Agreement, dated as of the date
hereof, by and among the Company and each Buyer (as defined therein) party thereto.

 

On the Maturity Date (defined
as 730 days from the date of the Note) the Principal Amount plus accrued interest shall be payable. On the Maturity Date, the Holder shall
have the option of receiving the Principal Amount plus accrued interest (or any portion not previously converted) in cash or shares of
Common Stock at a conversion price of $0.03 per share (the “Conversion Price”). In addition, upon the date which shall be
commence within ten (10) days after satisfaction of a Rule 144 Holding Period (the “144 Date”), for each period that shares
of Common Stock trade a dollar volume equal to at least $25,000 per day (such volume hereinafter referred to as the “Applicable
Float”) and the share price is greater than or equal to 200% of the Conversion Price for twenty (20) consecutive trading days (the
“Measurement Period”), the Maker shall have the right to mandatorily convert a portion the Note into shares of Common Stock
(the “Automatic Conversion”). Such portion of the Note that the Maker may convert pursuant to the preceding sentence shall
equal up to 20% of the average Float per day, as calculated and averaged over the total number of days of the applicable Measurement Period.

 

     

     

    

 

If and whenever on or after
the date of the Note, the Company issues or sells, or is deemed to have issued or sold, any shares of Common Stock (including the issuance
or sale of shares of Common Stock owned or held by or for the account of the Company, but excluding shares of Common Stock deemed to have
been issued by the Company in connection with any Excluded Securities (the “Additional Shares”) for a consideration per share
(the “New Issuance Price”) less than a price equal to the Conversion Price in effect immediately prior to such issue or sale
or deemed issuance or sale (the foregoing a “Dilutive Issuance”), then immediately after such Dilutive Issuance, the Conversion
Price then in effect shall be reduced to the New Issuance Price.

 

Notwithstanding anything to
the contrary contained in this Note, this Note shall not be convertible by the Holder hereof, and the Company shall not affect any conversion
of this Note or otherwise issue any shares of Common Stock pursuant hereto, to the extent (but only to the extent) that after giving effect
to such conversion or other share issuance hereunder the Holder or any of its affiliates would beneficially own in excess of 4.99% (the
“Maximum Percentage”) of the Common Stock. To the extent the above limitation applies, the determination of whether this Note
shall be convertible (vis-à-vis other convertible, exercisable or exchangeable securities owned by the Holder or any of its affiliates)
and of which such securities shall be convertible, exercisable or exchangeable (as among all such securities owned by the Holder and its
affiliates) shall, subject to such Maximum Percentage limitation, be determined on the basis of the first submission to the Company for
conversion, exercise or exchange (as the case may be). No prior inability to convert this Note, or to issue shares of Common Stock, pursuant
to this paragraph shall have any effect on the applicability of the provisions of this paragraph with respect to any subsequent determination
of convertibility. For purposes of this paragraph, beneficial ownership and all determinations and calculations (including, without limitation,
with respect to calculations of percentage ownership) shall be determined in accordance with Section 13(d) of the Securities and Exchange
Act of 1934, as amended, and the rules and regulations promulgated thereunder. The provisions of this paragraph shall be implemented in
a manner otherwise than in strict conformity with the terms of this paragraph to correct this paragraph (or any portion hereof) which
may be defective or inconsistent with the intended Maximum Percentage beneficial ownership limitation herein contained or to make changes
or supplements necessary or desirable to properly give effect to such Maximum Percentage limitation. The limitations contained in this
paragraph shall apply to a successor Holder of this Note. For any reason at any time, upon the written or oral request of the Holder,
the Company shall within one (1) Business Day confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding,
including by virtue of any prior conversion or exercise of convertible or exercisable securities into shares of Common Stock, including,
without limitation, pursuant to this Note or securities otherwise issued. By written notice to the Company, any Holder may increase or
decrease the Maximum Percentage to any other percentage specified in such notice; provided that (i) any such increase will not be effective
until the 61st day after such notice is delivered to the Company, and (ii) any such increase or decrease will apply only to the Holder
sending such notice and not to any other holder of Notes.

 

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On the day after the date
that is 365 days from the date of the Note, the Company shall have the option to prepay, in whole or in part, the Note; provided, however,
that if the Company elects to prepay any or all of the outstanding balance of the Note in accordance with the foregoing, the Holder shall
have the right to either (i) require the Company to pay in cash the outstanding balance of the Note, together with any accrued and unpaid
interest thereon (accruing at a rate of interest equal to nine and a half (9.5%) percent per annum, compounding annually and computed
on the basis of a 365-day year), or (ii) convert the outstanding balance of the Note, together with any accrued and unpaid interest thereon
(accruing at a rate of interest equal to fifteen (15%) percent per annum, compounding annually and computed on the basis of a 365-day
year), into shares of Common Stock at the Conversion Price. Other than in strict compliance with the foregoing, the Maker may not prepay
this Note in whole or in part without the Holder’s consent in writing to such prepayment. Unless the equity securities upon conversion
are covered by an effective registration statement, such equity securities shall be “restricted securities” as that term is
defined in the Securities Act of 1933, as amended. The certificate representing such equity securities shall bear the following or a similar
legend:

 

“These securities have not been
registered under the Securities Act of 1933, as amended, or any state securities laws and may not be sold or otherwise transferred or
disposed of except pursuant to an effective registration statement under any applicable federal and state securities laws, or an opinion
of counsel satisfactory to counsel to the corporation that an exemption from registration is available.”

 

Maker will be in default if
any of the following happens: (a) Maker fails to make any payment within ten (10) days of when due or (b) Maker fails to perform at the
time and in the manner provided in this Note or any agreement related to this Note.

 

Upon default, Holder may declare
the entire unpaid principal balance on this Note and all accrued unpaid interest immediately due, without notice, and then Maker will
pay that amount. Upon default, including failure to pay any payment within ten (10) days of when due or upon the final maturity, whichever
occurs first, Holder, at its option, may also if permitted under applicable law, do one or both of the following: (a) increase the interest
rate on this Note to 18%, and (b) add any unpaid accrued interest to principal and such sum will bear interest therefrom until paid at
the rate provided in this Note (including any increased rate). If Maker is in default, Maker also will pay reasonable costs and expenses
of collection including, subject to any limits under applicable law, Holder’s reasonable attorney’s fees and legal expenses
whether or not there is a lawsuit. If not prohibited by applicable law, Maker also will pay any court costs, in addition to all other
sums provided by law.

 

This Note shall be senior
secured indebtedness of the Company (senior to any unsecured or junior indebtedness of the Company), secured by a priority lien on all
assets of the Maker and shall be pari passu with any other senior secured indebtedness of the Company. The Note may only be subordinated
to any indebtedness the Maker incurs to banks, financial institutions, and/or institutions or non-commercial lenders; and further provided
that, upon conversion of this Note into shares of Common Stock, the Conversion Shares held by Investors will bear no interest, will be
unsecured, and will be subordinate in liquidation preference to: (i) any indebtedness the Maker incurs to banks, financial institutions
and/or commercial or non-commercial lenders; and (ii) any preferred class(es)/series of securities authorized and issued by the Maker
subsequent to the date of this Offering. As of the date of this Offering, the Maker has not authorized or issued any preferred class(es)/series
of securities.

 

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No delay or omission on the
part of Holder in the exercise of any right hereunder shall operate as a waiver of such right or of any other right under this Note. A
waiver by Holder of any right or remedy conferred to it hereunder on any one occasion shall not be construed as a bar to, or waiver of,
any such right and/or remedy as to any future occasion. Maker and all persons now or hereafter becoming obligated or liable for the payment
hereof do jointly and severally waive demand, notice of non-payment, protest, notice of dishonor and presentment. No failure to accelerate
the indebtedness evidenced hereby by reason of default hereunder, acceptance of a past-due installment or other indulgences granted from
time to time, shall be construed as a novation of this Note or as a waiver of such right of acceleration or of the right of Holder thereafter
to insist upon strict compliance with the terms of this Note or to prevent the exercise of such right of acceleration or any other right
granted hereunder or by applicable law.

 

No Maker intends or expects
to pay, nor does Holder intend or expect to charge, collect or accept, any interest greater than the highest legal rate of interest which
may be charged under any applicable law. Should the acceleration hereof or any charges made hereunder result in the computation or earning
of interest in excess of such legal rate, any and all such excess shall be and the same is hereby waived by Holder, and any such excess
shall be credited by Holder to the principal balance hereof.

 

This Note shall be construed
and enforced according to the laws of the State of New York excluding all principles of conflict of laws or comity. Each person now or
hereafter becoming obligated for the payment of the indebtedness evidenced hereby consents to personal jurisdiction and venue in New York
County, New York, in the event of any litigation in any way arising out of this Note, or any property given as security for the amounts
evidenced by this Note.

 

This Note shall be binding
on the successors and assigns of Maker. Maker may not assign this Note without the written consent of Holder. This Note shall inure to
the benefit of the Holder’s successors, assigns, heirs or personal representatives. The term “Holder” used herein shall
include any future holder of this Note. The terms of this Note may not be changed orally.

 

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Whenever possible each provision
of this Note shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Note
shall be prohibited or invalid under such law, such provision shall be ineffective to the extent of such prohibition or invalidity, without
invalidating the remainder of such provision or the remaining provisions of this Note.

 

	 	MAKER:
	 	 
	 	bOXsCORE bRANDS, INC.,

a Delaware corporation
	 	 	 
	 	By:	/s/ Andrew Boutsikakis
	 	 	Name: 	Andrew Boutsikakis
	 	 	Title:	Chief Executive Officer

 

 

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