Document:

Exhibit
10.17

 

Certain
identified information has been excluded from the exhibit pursuant to Item 601(a)(6) of Regulation S-K due to personal privacy concerns.
Redacted information is indicated by: [***]

 

PROMIS NEUROSCIENCES INC.

SUBSCRIPTION AGREEMENT

FOR

NON-U.S.
PERSONS

 

	HAVE
                                            YOU COMPLETED THIS SUBSCRIPTION AGREEMENT PROPERLY?

    The
    following items in this Subscription Agreement must be completed. (Please initial each box.) 

	 
	 	 	Provide
    information and answers in the boxes on pages 1, 2 and 3.
	 
	 	 	Sign
    the execution page on page 1 of this Subscription Agreement. 
	 
	 	 	Complete
    Schedule “1” Accredited Investor Representation Letter and sign
	 

 

Delivery
of Subscription forms may be made by

 

email
to: [***]

 

facsimile
to: fax #: [***]

 

Delivery
of certified cheque, money order or bank draft may be made by courier/mail to:

 

ProMIS
Neurosciences Inc. Attention: CFO

1920 Yonge Street, Suite 200, Toronto, ON M4S 3E2

 

Alternatively,
delivery of funds may also be made via electronic wire transfer in accordance with the wire transfer instructions set forth below:

 

To
wire Canadian $ funds:

 

Beneficiary
Bank: [***]

 

Bank
Address: [***]

 

Account
# [***]

 

Bank
#:[***]

 

SWIFT
Code: [***]

 

Currency:
[***]

 

Beneficiary:
PROMIS NEUROSCIENCES INC.

 

Beneficiary
address: 1920 Yonge Street, Suite 200, Toronto, ON M4S 3E2

 

If
you wish to wire funds in currency other than CDN$, please contact the Corporation by email: [***]

______________________________________________________________________

 

     

     

    

 

 

SUBSCRIPTION
FOR UNITS

 

	TO:	ProMIS
                                            Neurosciences Inc. (the “Corporation”)

 

The
undersigned (the “Subscriber”, including, if applicable, each Disclosed Principal (as hereinafter defined) for whom
the undersigned is acting hereunder) hereby irrevocably subscribes for and agrees to purchase the number of units of the Corporation
(the “Units”) set forth below for the aggregate subscription amount set forth below (the “Aggregate Subscription
Amount”), representing a subscription price of CDN $0.25 on the terms and conditions set forth in “Terms and Conditions
of Subscription for Units of ProMIS Neurosciences Inc..” attached hereto (together with the face pages and the attached Schedules,
the “Subscription Agreement”). Each Unit consists of one common share of the Corporation (a “Common Share”)
and one share purchase warrant (a “Warrant”).

 

Each
whole Warrant entitles the holder to purchase one Common Share (a “Warrant Share”) at any time for a five year period,
at a price of CDN $0.35 per Warrant Share.

 

The
Units, the Common Shares, the Warrants and the Warrant Shares are hereinafter referred to together as the “Securities”.

 

	 

    Number
    of Units:

    __________________________

     
	 

    Aggregate
    Subscription Amount: CDN $_____

     

	Name
    and Signature of Subscriber
	Individual
    Subscriber 	 	Non-Individual
    Subscriber (e.g., Corporation)
	 	 	 
	(Print
    Name of Individual Subscriber) 	 	(Print
    Name of Non-Individual Subscriber) 
	 	 	 
	(Signature
    of Individual Subscriber) 	 	(Signature
    of Authorized Signatory) 
	 	 	 
	 	 	(Print
    Name and Official Capacity or Title of Signatory) 

    The signatory represents that he has authority to bind the Subscriber. 
	ONLY
                                            IF the Subscriber is signing as agent or trustee for a principal (a “Disclosed
                                            Principal”) and is not purchasing as trustee or agent for accounts fully managed by
                                            it, so as to be deemed to be purchasing as principal pursuant to National Instrument 45-106,
                                            complete the following and, if applicable, ensure that all Schedules are completed on behalf
                                            of such Disclosed Principal:

    _____________________________________________________________________________________________

    _________ 

    (Name
    of Disclosed Principal and, if Disclosed Principal is not an individual, of the contact person of Disclosed Principal)

     

    _____________________________________________________________________________________________

    (Address and Telephone Number of Disclosed Principal or, if Disclosed Principal is not an individual, of the contact person of Disclosed
    Principal)

 

    Page 1

     

    

 

	Address
    of Subscriber - Residential for Individual / Business for Non-Individual Subscriber
	 	 	 
	 	 	 
	Address
    of Subscriber 	 	(Telephone
    Number) 
	 	 	 
	City,
    Province, Postal Code 	 	(Facsimile
    Number) 
	 	 	 
	 	 	(Email
    address) 

 

	REGISTRATION
                                            INSTRUCTIONS

     
	 	DELIVERY
    INSTRUCTIONS
	Register
                                            the Common Shares and Warrants as set forth below (only complete if different from above):

     

     

    _____________________________________________________

    (Name)

     

    _____________________________________________________

    (Account
    reference, if applicable)

     

    _____________________________________________________

    (Address)

     

    _____________________________________________________

     
	 	Deliver
                                            the Common Shares and Warrants as set forth below:

     

     

    _________________________________________________________

    (Name)

     

    _________________________________________________________

    (Account
    reference, if applicable)

     

    _________________________________________________________

    (Contact
    Name)

     

    _________________________________________________________

    (Address)

     

    _________________________________________________________

     

 

INFORMATION
REGARDING THE SUBSCRIBER

 

Please
check the appropriate box (and complete the required information, if applicable) in each section:

 

	1.	Security
                                            Holdings. Prior to giving effect to the issuance of the securities being subscribed for
                                            under this Subscription Agreement, the Subscriber and all persons acting jointly and in concert
                                            with the Subscriber currently own, directly or indirectly, or exercise control or direction
                                            over (provide additional detail as applicable):

 

	 	 ̈	_________________
                                            common shares of the Corporation and the following other kinds of rights and convertible
                                            securities (including but not limited to convertible debt, warrants and options) entitling
                                            the Subscriber to acquire additional common shares of the Corporation:
	 	 	 
	 	 	 

 

    Page 2

     

    

 

	 	 	 
		 ̈	No
                                            shares of the Corporation or rights or securities convertible into shares of the Corporation.

 

	2.	Insider
                                            Status. The Subscriber either:

 

		 ̈	Is
                                            an “Insider” of the Corporation as defined in the Policies of the Exchange (as
                                            hereinafter defined) by virtue of being:

 

		(a)	a
                                            director or executive officer of the Corporation;

 

		(b)	a
                                            director or executive officer of a company that is an Insider or subsidiary of the Corporation;

 

		(c)	a
                                            person that beneficially owns or controls, directly or indirectly, voting shares of the Corporation
                                            carrying more than 10% of the voting rights attached to all the Corporation’s outstanding
                                            voting shares; or

 

		(d)	the
                                            Corporation itself if it holds any of its own securities.

 

		 ̈	Is
                                            not an Insider of the Corporation.

 

	3.	Pro
                                            Group Status. The Subscriber either:

 

		 ̈	Is
                                            a Member of the “Pro Group”, which is defined in the Rules of the Exchange
                                            as either individually or as a group:

 

		1.	the
                                            member (i.e. a member of the Exchange under the Exchange requirements);

 

		2.	employees
                                            of the member;

 

		3.	partners,
                                            officers and directors of the member;

 

		4.	affiliates
                                            of the member;

 

		5.	such
                                            other persons as the Exchange may determine; and

 

		6.	associates
                                            of any parties referred to in paragraphs 1 through 5 above.

 

		 ̈	Is
                                            not a member of the Pro Group.

 

	4.	Registrant
                                            Status. The Subscriber either:

 

		 ̈	Is
                                            a “Registrant” as defined in the Securities Act (British Columbia) by
                                            virtue of being a person registered or required to be registered under the Securities
                                            Act (British Columbia.

 

		 ̈	 Is
                                            not a Registrant.

 

    Page 3

     

    

 

 

ACCEPTANCE:          The
Corporation hereby accepts the subscription as set forth above on the terms and conditions contained in this Subscription Agreement.

 

                                       ,
2019.

 

	PROMIS NEUROSCIENCES
    INC.	 
	 	 
	By:	                            	 

 

    Page
                                            4

     

    

 

TERMS AND CONDITIONS OF SUBSCRIPTION FOR

UNITS OF PROMIS NEUROSCIENCES INC.

 

Terms of the Offering

 

1.            The
Subscriber acknowledges (on its own behalf and, if applicable, on behalf of each person on whose behalf the Subscriber is contracting)
that this subscription is subject to acceptance or rejection by the Corporation, in its sole and absolute discretion, in whole or in
part. The parties agree that this Subscription and all money tendered herewith will be returned to the Subscriber, without interest or
deduction, if this Subscription is not accepted by the Corporation.

 

2.            The
Subscriber acknowledges (on its own behalf and, if applicable, on behalf of each person on whose behalf the Subscriber is contracting)
that:

 

(a)            the
Corporation is offering (the “Offering”) the Units on a private placement basis under the terms of this Subscription
Agreement;

 

(b)            notwithstanding
section 2(a) above, this Offering will not in any way restrict the Corporation from issuing additional securities of the Corporation
at prices, on terms and in amounts as may be determined by the Corporation, in its sole and absolute discretion, including an amendment
to the Offering to increase the size of the Offering; and

 

(c)            the
issuance of the Units shall be subject to any conditions that may be imposed by the Exchange as part of the Exchange’s acceptance
of the Offering (provided that no material changes shall be made to the terms hereunder without the prior written consent of the Subscriber),
including, without limitation, in the event that the issuance of the Units hereunder may result in, or be part of a transaction that
may result in:

 

(i)            the
issuance of listed Shares representing more than 25% of the number of Shares which are outstanding on a non-diluted basis prior to the
Closing (the “25% Dilution Rule”);

 

(ii)            the
issuance of listed Shares during any six month period to insiders representing more than 10% of the number of Shares which are outstanding
on a non-diluted basis prior to the Closing (the “10% Insider Rule”); or

 

(iii)            the
issuance of listed Shares that will materially affect control of the Corporation.

 

Representations, Warranties and Covenants of the Corporation

 

3.            The
Corporation hereby represents and warrants to the Subscriber (and acknowledges that the Subscriber is relying thereon) that:

 

(a)            The
Corporation is a duly amalgamated and validly subsisting corporation under the laws of Canada and has full corporate power and authority
to perform each of its obligations as herein contemplated.

 

(b)            The
Corporation is listed on the TSX (the “Exchange”) and as a result is subject to the rules and policies of the
Exchange.

 

(c)            The
Corporation is a “reporting issuer” in good standing under the securities laws of the provinces of Ontario, British Columbia
and Alberta.

 

(d)            This
Subscription Agreement, when accepted by the Corporation, will constitute a legal, valid and binding obligation of the Corporation enforceable
in accordance with its terms.

 

    Page 5

     

    

 

(e)            The
execution and delivery of, and the performance of the terms of this Subscription Agreement by the Corporation, including the issue of
the Securities, does not and will not constitute a breach of or default under the constating documents of the Corporation or any law,
regulation, order or ruling applicable to the Corporation or any agreement, contract or indenture to which the Corporation is a party
or by which it is bound.

 

(f)            The
Corporation is not a party to any actions, suits or proceedings which could materially affect its business or financial condition, and,
as at the date hereof, no such actions, suits or proceedings have been threatened or, to the best of the Corporation’s knowledge,
are pending, except as disclosed in information which has been filed by the Corporation with the various Canadian securities commissions
under applicable securities legislation and the Exchange.

 

(g)            The
sale, issuance and delivery of the Units at the closing (the “Closing”) will have been approved by all requisite corporate
action on or before the Closing Date and, upon issue and delivery at the Closing, the Units will be validly issued as fully paid and
non-assessable.

 

(h)            No
order ceasing or suspending trading in the Securities nor prohibiting sale of the Securities has been issued to and is outstanding against
the Corporation or its directors, officers or promoters and to the best of the Corporation’s knowledge no investigations or proceedings
for such purposes are pending or threatened.

 

(i)            The
legend endorsed on the DRS representing the Common Shares and Warrant Shares shall expire four months (“Expiry Date”)
after the Closing Date. After the Expiry Date, the Corporation shall undertake best commercial efforts to deliver or cause to be delivered,
no later than two (2) trading days on the Exchange (“Trading Day”) following the delivery by the Subscriber to
the Corporation or, with notice to the Corporation, to the transfer agent of the Corporation (“Transfer Agent”) of
a DRS representing the Common Shares or Warrant Shares, as the case may be, that is free from all such restrictive and other legends
(such date, the “Legend Removal Date”). In addition to the Subscriber’s other available remedies, in the event
that the Subscriber delivers a DRS representing the Common Shares or Warrant Shares, as the case may be, to the Corporation or, with
notice to the Corporation, to the Transfer Agent, the Corporation shall pay to the Subscriber, in cash, (i) as partial liquidated
damages and not as a penalty, for each $1,000 of Common Shares or Warrant Shares (based on the volume weighted average price of the Common
Shares on the Exchange on the date such Securities are submitted to the Transfer Agent) delivered for removal of the restrictive legend,
$10 per Trading Day (increasing to $20 per Trading Day five (5) Trading Days after such damages have begun to accrue) for each Trading
Day after the Legend Removal Date until such DRS is delivered without a legend and (ii) if the Corporation fails to (a) issue
and deliver (or cause to be delivered) to the Subscriber by the Legend Removal Date a DRS representing representing the Common Shares
or Warrant Shares, as the case may be, so delivered to the Corporation by the Subscriber that is free from all restrictive and other
legends and (b) if after the Legend Removal Date the Subscriber purchases (in an open market transaction or otherwise) Common Shares
to deliver in satisfaction of a sale by the Subscriber of all or any portion of the number of Common Shares or Warrant Shares, or a sale
of a number of Common Shares equal to all or any portion of the number of Common Shares or Warrant Shares, as the case may be, that the
Subscriber anticipated receiving from the Corporation without any restrictive legend, then, an amount equal to the excess of the Subscriber’s
total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the Common Shares so purchased (including
brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”) over the product of (A) such
number of Common Shares or Warrant Shares that the Corporation was required to deliver to the Subscriber by the Legend Removal Date multiplied
by (B) the lowest closing sale price of the Common Stock on any Trading Day during the period commencing on the date of the delivery
by the Subscriber to the Corporation of the applicable Common Shares or Warrant Shares (as the case may be) and ending on the date of
such delivery and payment under this clause (i).

 

    Page 6

     

    

 

(j)            The
Corporation shall, by 9:00 a.m. Eastern Time on the date after this Subscription Agreement is accepted by the Corporation and confirmed
with the Subscriber in writing (“Effective Date”), issue a press release disclosing the material terms of the transactions
contemplated hereby. From and after the issuance of such press release, the Corporation represents to the Subscriber that it shall have
publicly disclosed all material, non-public information delivered to the Subscriber by the Corporation or any of its Subsidiaries, or
any of their respective officers, directors, employees or agents in connection with the transactions contemplated by the Transaction
Documents. Notwithstanding the foregoing, the Corporation shall not publicly disclose the name of the Subscriber, or include the name
of the Subscriber in any filing with the Commission or any regulatory agency or Trading Market, without the prior written consent of
the Subscriber, except to the extent such disclosure is required by law or Trading Market regulations, in which case the Corporation
shall provide the Subscriber with prior notice of such disclosure.

 

(k)            Except
with respect to the material terms and conditions of the transactions contemplated by this Subscription Agreement, which shall be disclosed
pursuant to clause (j) above, the Corporation covenants and agrees that neither it, nor any other Person acting on its behalf will
provide the Subscriber or its agents or counsel with any information that constitutes, or the Corporation reasonably believes constitutes,
material non-public information, unless prior thereto the Subscriber shall have consented to the receipt of such information and agreed
with the Corporation to keep such information confidential. The Corporation understands and confirms that the Subscriber shall be relying
on the foregoing covenant in effecting transactions in securities of the Corporation.

 

(l)            As
of the date hereof, the Corporation has reserved and the Corporation shall continue to reserve and keep available at all times, free
of pre-emptive rights, a sufficient number of Common Shares for the purpose of enabling the Corporation to issue Warrant Shares pursuant
to any exercise of the Warrants.

 

(m)            No
consideration (including any modification of any Subscription Agreement) shall be offered or paid to any Person to amend or consent to
a waiver or modification of any provision of the Subscription Agreement unless the same consideration is also offered to all of the parties
to the Subscription Agreements. For clarification purposes, this provision constitutes a separate right granted to the Subscriber by
the Corporation and negotiated separately by the Subscriber, and is intended for the Corporation to treat the Subscribers as a class
and shall not in any way be construed as the Subscribers acting in concert or as a group with respect to the purchase, disposition or
voting of Securities or otherwise.

 

Acknowledgements, Warranties and Covenants of the Subscriber

 

4.            The
Subscriber acknowledges, warrants and agrees (on its own behalf and, if applicable, on behalf of each person on whose behalf the Subscriber
is contracting) that:

 

(a)            the
Offering, of which this Subscription Agreement forms a part, is not subject to a minimum subscription level and as such, upon acceptance
by the Corporation, subscription funds are immediately available for use by the Corporation;

 

(b)            no
fractional Warrants shall be issued and the Corporation shall round down any fractional number of Warrants to the nearest whole number;

 

(c)            the
Corporation may complete additional financings in the future which may have a dilutive effect on existing shareholders at such time,
including a Subscriber hereunder;

 

(d)            it
is aware of the characteristics of the Units, the risks relating to an investment therein and of the fact that it may not be able to
resell the Securities except in accordance with limited exemptions under applicable securities legislation and regulatory policy until
expiry of the applicable restriction period and compliance with the other requirements of applicable law, and it agrees that any certificates
or Direct Registration Statements (DRS) representing the Securities may bear the following legend indicating that the resale of such
Securities is restricted:

 

    Page 7

     

    

 

“Unless permitted under securities
legislation, the holder of this security must not trade the security before [that date
that is 4 months and a day after the Closing Date].”

 

(e)            the
Closing is subject to the terms of the conditional approval of the Exchange;

 

(f)            the
Corporation may pay fees or issue finder warrants or both to one or more finders in accordance with the policies of the Exchange in connection
with the Offering and subject to compliance with applicable securities laws;

 

(g)            the
issuance of the Units shall be subject to any conditions that may be imposed by the Exchange as part of the Exchange’s acceptance
of the Offering, including, without limitation, the conditions noted in paragraphs 4(h) and 4(i);

 

(h)            in
the event that the issuance of the Units hereunder may result in, or be part of a transaction that may result in, either or both

 

(i)            the
issuance of listed Shares representing more than 25% of the number of Shares which are outstanding on a non-diluted basis prior to the
Closing; or

 

(ii)            the
issuance of listed Shares during any six month period to insiders representing more than 10% of the number of Shares which are outstanding
on a non-diluted basis prior to the Closing;

 

the Exchange may require as a condition
of its acceptance of the Offering that the Corporation obtain shareholder approval (excluding, in the case of the 10% Insider Rule, the
votes attached to the Shares held by Insiders and their associates and affiliates); and

 

(i)            in
the event that the issuance of the Units may result in, or be part of a transaction that may result in, the creation of a new “Insider”
or a new “Control Person”, the Exchange may require as a condition of its acceptance of the Offering, that the Corporation
obtain shareholder approval (excluding the votes attached to the Units held by the new Insider or new Control Person and its associates
and affiliates) of the new Insider or new Control Person, as the case may be, prior to the issue of a portion or all of the Units.

 

5.            The
Subscriber (on its own behalf and, if applicable, on behalf of each person on whose behalf the Subscriber is contracting) represents,
warrants and covenants to the Corporation that:

 

(a)            it
has been independently advised as to the restrictions with respect to trading in the Securities imposed by applicable securities legislation,
and no representation has been made to it by or on behalf of the Corporation with respect thereto;

 

(b)            it
has not received or been provided with, nor has it requested, nor does it have any need to receive, any prospectus or offering memorandum,
or any other document describing the business and affairs of the Corporation which has been prepared for delivery to, and review by,
prospective purchasers in order to assist it in making an investment decision in respect of the Units;

 

(c)            it
has relied solely upon information publicly available on SEDAR (at www.sedar.com) relating
to the Corporation and not upon any oral or written representation as to fact or otherwise made by or on behalf of the Corporation and
it does not have knowledge of any “material fact” (as defined under applicable securities legislation) about the Corporation
that has not been publicly disclosed;

 

    Page 8

     

    

 

(d)            the
Subscriber is resident in the province set out in the “Subscriber’s Address”, which is the ordinary residence or place
of business of the Subscriber and such beneficial purchaser, if applicable, and, if the Subscriber is a corporate entity, it was not
created nor is it used solely for the purpose of acquiring the Units;

 

(e)            the
Subscriber is purchasing the Units to be held for investment purposes only and not with a view to immediate resale or distribution and
will not recall or otherwise transfer or dispose of the Units except in accordance with the provisions of applicable securities legislation;

 

(f)            the
Subscriber is purchasing the Units as principal for its own account, it is purchasing such Units for investment only and not for the
benefit of any other person and not with a view to the resale or distribution of all or any of the Units and it fully complies with
one or more of the sub-paragraphs set forth below:

 

(i)            the
Subscriber

 

(A)            is
an “accredited investor” within the meaning of applicable securities laws, including National Instrument 45-106 entitled
 “Prospectus and Registration Exemptions” (“NI 45-106”); and

 

(B)            has
concurrently executed and delivered a Representation Letter in the form attached as Schedule I to this Subscription Agreement, including
Appendix “A” and Appendix “B” thereto; or

 

(ii)            the
Subscriber is neither an individual nor a company established solely to acquire the Units and the cost of the Units purchased by it has
an aggregate acquisition of not less than $150,000; or

 

(iii)            __________
(to be initialled by Subscriber, if applicable) - if it is not purchasing under subparagraph 5(f)(i), or (ii), it is purchasing
pursuant to an exemption from prospectus and registration requirements (particulars of which are enclosed herewith or will be provided
on or before the Closing Date) available to it under applicable securities legislation and shall deliver to the Corporation such further
particulars of the exemption(s) and the Subscriber’s qualifications thereunder as the Corporation may request;

 

(g)            if
it is not purchasing as principal (and is not otherwise deemed to be purchasing as principal for the purposes of the applicable prospectus
exemption under applicable provincial and territorial securities laws in Canada),

 

(i)            it
is duly authorized to enter into this Subscription Agreement and to execute all documentation in connection with the purchase on behalf
of each beneficial purchaser, each of whom is purchasing as principal for its own account, not for the benefit of any other person, and
not with a view to the resale or distribution of all or any of the Securities;

 

(ii)            it
and each beneficial purchaser has provided to the Corporation all of the information required by pages 1 to 3 of this Subscription
Agreement and it acknowledges that the Corporation may be required by law to disclose to certain regulatory authorities the identity
of each beneficial purchaser of Units for whom it may be acting; and

 

(iii)            each
of the principals complies with one or more of subparagraphs 5(f)(i) through (f)(ii), as applicable, and the same is so indicated
for each such principal;

 

    Page 9

     

    

 

(h)            if
the Subscriber is a resident of a country other than Canada or the United States (a “Jurisdiction Outside CAN-US”)
then in addition to the other representations and warranties contained herein, the Subscriber represents and warrants that:

 

(i)            the
Subscriber is knowledgeable of, or has been independently advised as to, the applicable securities laws of the Jurisdiction Outside
CAN-US which would apply to this Subscription Agreement, if any;

 

(ii)            the
Subscriber is purchasing the Subscriber’s Shares pursuant to exemptions from any prospectus, registration or similar requirements
under the applicable securities laws of that Jurisdiction Outside CAN-US or, if such is not applicable, the Subscriber is permitted to
purchase the Subscriber’s Shares under the applicable securities laws of the Jurisdiction Outside CAN-US without the need to rely
on an exemption;

 

(iii)            the
applicable securities laws of the Jurisdiction Outside CAN-US in which the Subscriber resides do not require the Corporation to
file a prospectus, registration statement or similar document or to register the Securities or to make any filings or seek any approvals
of any kind whatsoever from any regulatory authority of any kind whatsoever in the Jurisdiction Outside CAN-US; and

 

(iv)            the
delivery of this Subscription Agreement, the acceptance of it by the Corporation and the issuance of the Securities to the Subscriber
complies with all applicable laws of the Subscriber’s jurisdiction of residence or domicile and all other applicable laws
and will not cause the Subscriber to become subject to or comply with any disclosure, prospectus or other offering document or reporting
requirements under any such applicable laws.

 

(i)            it
acknowledges that:

 

(i)            no
securities commission or similar regulatory authority has reviewed or passed on the merits of the Units;

 

(ii)            there
is no government or other insurance covering the Units;

 

(iii)            there
are risks associated with the purchase of the Units;

 

(iv)            there
are restrictions on the Subscriber’s ability to resell the Securities and it is the responsibility of the Subscriber to find out
what those restrictions are and to comply with them before selling any of the Securities; and

 

(v)            the
Corporation or its agent has advised the Subscriber that the Corporation is relying on an exemption from the requirements to provide
the Subscriber with a prospectus and (except for Subscribers who qualify for a prospectus exemption herein by virtue of being advised
by a registered dealer) to sell the Units through a person or company registered to sell securities under applicable provincial and territorial
securities laws in Canada (including the Securities Act (Ontario) and, as a consequence of acquiring the Units pursuant to this
exemption, certain protections, rights and remedies provided by the Acts, including statutory rights of rescission or damages, will not
be available to the Subscriber;

 

(j)            if
a corporation, partnership, unincorporated association or other entity, it has the legal capacity to enter into and be bound by this
Subscription Agreement and further certifies that all necessary approvals of directors, shareholders, partners or otherwise have been
given and obtained;

 

(k)            if
an individual, it is of the full age of majority and is legally competent to execute this Subscription Agreement and take all action
pursuant hereto;

 

    Page 10

     

    

 

(l)            this
Subscription Agreement has been duly and validly authorized, executed and delivered by and constitutes a legal, valid, binding and enforceable
obligation of the Subscriber;

 

(m)            in
the case of a subscription by it for Units acting as agent for a disclosed principal, it is duly authorized to execute and deliver this
Subscription Agreement and all other necessary documentation in connection with such subscription on behalf of such principal and this
Subscription Agreement has been duly authorized, executed and delivered by or on behalf of, and constitutes a legal, valid and binding
agreement of, such principal;

 

(n)            it
acknowledges that no representation has been made to it:

 

(i)            as
to the future value or price of the Shares;

 

(ii)            that
any person will resell or repurchase the Shares; or;

 

(iii)            that
any person will refund the purchase price of the Shares;

 

(o)            it
has such knowledge in financial and business affairs as to be capable of evaluating the merits and risks of its investment and it, or
where it is not purchasing as principal, each beneficial purchaser, is able to bear the economic risk of loss of its investment;

 

(p)            it
understands that the Units are being offered for sale only on a “private placement” basis and that the sale and delivery
of the Units is conditional upon such sale being exempt from the requirements as to the filing of a prospectus or the preparation of
an offering memorandum in prescribed form or upon the issuance of such orders, consents or approvals as may be required to permit such
sale without the requirement of filing a prospectus or delivering an offering memorandum in prescribed form and that certain protections,
rights and remedies provided by applicable securities legislation, in connection with the filing of a prospectus may not be available
to the Subscriber;

 

(q)            the
entering into of this Subscription Agreement and the transactions contemplated hereby will not result in a violation of any of the terms
or provisions of any law applicable to the Subscriber, or if the Subscriber is not a natural person, any of the Subscriber’s constating
documents, or any agreement to which the Subscriber is a party or by which it is bound;

 

(r)            the
funds representing the Aggregate Subscription Amount which will be advanced by the Subscriber hereunder will not represent proceeds of
crime for the purposes of the Proceeds of Crime (Money Laundering) Act (Canada) and the Subscriber acknowledges that the Corporation
may in the future be required by law to disclose the Subscriber’s name and other information relating to this Subscription Agreement
and the Subscriber’s subscription hereunder, on a confidential basis, pursuant to the Proceeds of Crime (Money Laundering) Act
(Canada) and to the best of the Subscriber’s knowledge (i) none of the subscription funds to be provided by the Subscriber
(A) have been or will be derived from or related to any activity that is deemed criminal under the law of Canada, the United States
of America, or any other jurisdiction, or (B) are being tendered on behalf of a person or entity who has not been identified to
the Subscriber, and (ii) it shall promptly notify the Corporation if the Subscriber discovers that any of such representations ceases
to be true, and to provide the Corporation with appropriate information in connection therewith;

 

(s)            the
Corporation’s counsel, McMillan LLP, is acting solely for the Corporation and in connection with the Offering and the Subscriber
may not rely upon McMillan LLP in any respect. The Subscriber acknowledges that it has been encouraged to and should obtain independent
legal, income tax and investment advice with respect to its subscription for Units and accordingly, has been independently advised as
to the meanings of all terms contained herein relevant to the Subscriber for the purposes of giving representations, warranties and covenants
under this Subscription Agreement;

 

    Page 11

     

    

 

(t)            the
information provided by the Subscriber on pages 1, 2 and 3 of this Subscription Agreement and under the heading “Information
Regarding The Subscriber” is true and correct in all material respects and will be true and correct as of the Closing Date;

 

(u)            it
does not act jointly or in concert with any other Subscriber under the Offering for the purposes of the acquisition of the Units;

 

(v)            it
will not resell the Securities or any of them, except in accordance with the provisions of applicable securities legislation and stock
exchange rules, if applicable, in the future;

 

(w)            the
delivery of this subscription, the acceptance hereof by the Corporation and the issuance of the Units to the Subscriber complies with
all applicable laws of the Subscriber’s jurisdiction of residence and domicile and will not cause the Corporation or any of its
officers or directors to become subject to or require any disclosure, prospectus or other reporting requirement;

 

(x)            the
Corporation may complete additional financings in the future in order to develop the business of the Corporation and to fund its ongoing
development; there is no assurance that such financings will be available and, if available, on reasonable terms; any such future financings
may have a dilutive effect on current securityholders, including the Subscriber; and if such future financings are not available, the
Corporation may be unable to fund its ongoing development and the lack of capital resources may result in the failure of its business
venture; and

 

(y)            the
Subscriber is capable of assessing the proposed investment as a result of the Subscriber’s financial experience or as a result
of advice received from a registered person other than the Corporation or any affiliates thereof.

 

Closing

 

6.            The
Subscriber agrees to deliver to the Corporation, not later than the Closing Time: (a) this duly completed and executed Subscription
Agreement, including all applicable Schedules hereto and Appendices thereto; and (b) the Aggregate Subscription Amount subscribed
for under this Subscription Agreement in accordance with the Instructions on the Cover Page or payment of the same amount in such
other manner as is acceptable to the Corporation. If payment is made in a currency other than Canadian dollars, the Subscriber acknowledges
and agrees that it shall be responsible to make up for any deficiency in the payment of the Aggregate Subscription Price as a result
of the exchange of such funds into Canadian dollars.

 

7.            The
sale of the Units pursuant to this Subscription Agreement will be completed at the offices of McMillan LLP, the Corporation’s counsel,
in Vancouver, British Columbia at 10:00 a.m. (Vancouver time) or such other time as the Corporation may determine (the “Closing
Time”) on such date (the “Closing Date”) the Corporation may determine within 2 days of its acceptance of
this Subscription Agreement. The Corporation shall complete the Offering in one Closing. At the Closing Time, the Corporation will deliver,
or cause to be delivered, according to the instructions set out under Delivery Instructions herein the DRS representing the Common Shares
and a certificate representing the Warrants as registered in the name of the Subscriber or its nominee as set out under Registration
Instructions provided that the Subscriber shall have delivered to the Corporation the completed Subscription Agreement and the Aggregate
Subscription Amount.

 

8.            The
obligations of the parties hereunder are subject to acceptance of the terms of the Offering by the Exchange.

 

9.            The
Corporation shall be entitled to rely on delivery of a copy of executed subscriptions by electronic means, and acceptance by the Corporation
of such electronic subscriptions (including, without limitation by facsimile or email delivery) shall be legally effective to create
a valid and binding agreement between the Subscriber and the Corporation in accordance with the terms hereof. Prior to Closing, any funds
advanced to the Corporation on account of the Aggregate Subscription Amount shall constitute a non-interest bearing loan to the Corporation,
which loan shall be due and payable to the Subscriber on the request of the Subscriber in the event that the Closing does not occur within
5 days of its acceptance of this Subscription Agreement.

 

    Page 12

     

    

 

Privacy Legislation

 

(a)            The
Subscriber acknowledges and consents to the fact that the Corporation is collecting the Subscriber’s (and any Disclosed Principal
for whom the Subscriber is acting hereunder) personal information (as that term is defined under applicable privacy legislation, including,
without limitation, the Personal Information Protection and Electronic Documents Act (Canada) and any other applicable similar
replacement or supplemental provincial or federal legislation or laws in effect from time to time) for the purpose of completing the
Subscriber’s subscription. The Subscriber acknowledges and consents to the Corporation retaining the personal information for so
long as permitted or required by applicable law or business practices. The Subscriber further acknowledges and consents to the fact that
the Corporation may be required by applicable securities legislation, stock exchange rules and/or Investment Industry Regulatory
Organization of Canada rules to provide regulatory authorities with any personal information provided by the Subscriber respecting
itself (and any Disclosed Principal for whom the Subscriber is acting hereunder). The Subscriber represents and warrants that it has
the authority to provide the consents and acknowledgements set out in this paragraph on behalf of all Disclosed Principals for whom the
Subscriber is acting. In addition to the foregoing, the Subscriber agrees and acknowledges that the Corporation may use and disclose
the Subscriber’s personal information, or that of each Disclosed Principal for whom the Subscriber is acting hereunder, as follows:

 

(i)            for
internal use with respect to managing the relationships between and contractual obligations of the Corporation and the Subscriber or
any Disclosed Principal for whom the Subscriber is acting hereunder;

 

(ii)            for
use and disclosure to the Corporation’s transfer agent and registrar;

 

(iii)            for
use and disclosure for income tax related purposes, including without limitation, where required by law, disclosure to Canada Revenue
Agency;

 

(iv)            disclosure
to securities regulatory authorities (including the TSX) and other regulatory bodies with jurisdiction with respect to reports of trade
and similar regulatory filings;

 

(v)            disclosure
to a governmental or other authority (including the TSX) to which the disclosure is required by court order or subpoena compelling such
disclosure and where there is no reasonable alternative to such disclosure;

 

(vi)            disclosure
to professional advisers of the Corporation in connection with the performance of their professional services;

 

(vii)            disclosure
to any person where such disclosure is necessary for legitimate business reasons and is made with the Subscriber’s prior written
consent;

 

(viii)            disclosure
to a court determining the rights of the parties under this Subscription Agreement; or

 

(ix)            for
use and disclosure as otherwise required or permitted by law.

 

The
Subscriber further acknowledges and agrees that the TSX collects personal information in forms submitted by the Corporation, which will
include personal information regarding the Subscriber. The Subscriber agrees that the TSX may use this information in the manner provided
for in Appendix 6A to the TSX Company Manual, a copy of which may be viewed at the TSX website, www.tsx.com
and is incorporated herein by reference. The Subscriber further acknowledges that the securities regulatory authorities,
including, without limitation, the British Columbia Securities Commission, the Alberta Securities Commission and the Ontario Securities
Commission, collect personal information in forms submitted to it by the Corporation, including information about the Subscriber, the
Subscriber’s address and contact information, and the Subscriber’s subscription. The Subscriber acknowledges that any such
securities commission is entitled to collect the information under authority granted to each respective regulatory authority under applicable
securities legislation for the purpose of administration and enforcement of the applicable securities legislation. The Subscriber acknowledges
that it may obtain information regarding the collection of this information by contacting, in the case of the British Columbia Securities
Commission, British Columbia Securities Commission, P.O. Box 10142, Pacific Centre, 701 West Georgia Street, Vancouver, British
Columbia, V7Y 1L2, Telephone: (604) 899-6500 or (800) 373-6393, Facsimile: (604) 899-6581, in the case of the Alberta
Securities Commission, Alberta Securities Commission, Suite 600, 250 – 5th St. SW, Calgary, Alberta, T2P 0R4, Telephone:
(403) 355-4151, Facsimile: (403) 297-6156, and, in the case of the Ontario Securities Commission, the Administrative Assistant to the
Director of Corporate Finance, Ontario Securities Commission, Suite 1903, Box 5520, Queen Street West, Toronto, Ontario M5H 3S8,
Telephone: (416) 593-3682, Facsimile: (416) 593-8252. The Subscriber consents to the collection of personal information
by the applicable securities regulatory authorities, including, without limitation, the British Columbia Securities Commission, the Alberta
Securities Commission and the Ontario Securities Commission.

 

    Page 13

     

    

 

General

 

10.            The
Subscriber agrees that the representations, warranties and covenants of the Subscriber herein will be true and correct both as of the
execution of this Subscription Agreement and as of the Closing Time and will survive the issuance of the Units. The representations,
warranties and covenants of the Subscriber herein are made with the intent that they be relied upon by the Corporation in determining
the eligibility of a purchaser of Units.. The Subscriber undertakes to immediately notify the Corporation by written notice to ProMIS
Neurosciences Inc. sent to its office at 1920 Yonge Street, Suite 200, Toronto, ON M4S 3E2 or by email to [***] of any change
in any statement or other information relating to the Subscriber set forth herein which takes place prior to the Closing Time.

 

11.            The
Subscriber acknowledges and agrees that all costs incurred by the Subscriber (including any fees and disbursements of any counsel retained
by the Subscriber) relating to the sale of the Units to the Subscriber shall be borne by the Subscriber.

 

12.            The
Subscriber acknowledges that upon a subscription being accepted by the Corporation, the Corporation will, subject to the terms and conditions
set out herein, issue to the Subscriber a DRS evidencing the Subscriber’s ownership of the Common Shares and a certificate representing
the Subscriber’s ownership of the Warrants.

 

13.            The
terms and provisions of this Subscription Agreement shall be binding upon and enure to the benefit of the Subscriber and the Corporation
and their respective heirs, executors, administrators, successors and permitted assigns

 

14.            The
contract arising out of this Subscription Agreement and all documents relating thereto shall be governed by and construed in accordance
with the laws of the Province of British Columbia and the federal laws of Canada applicable therein. The parties irrevocably attorn to
the exclusive jurisdiction of the courts of the Province of British Columbia.

 

15.            Time
is of the essence of this Subscription Agreement.

 

16.            Neither
party to this Subscription Agreement may assign all or part of its interest in or to this Subscription Agreement without the consent
in writing of the other party hereto, except for the assignment by a Subscriber who is acting as nominee or agent to the beneficial owner
and as otherwise herein provided.

 

    Page 14

     

    

 

17.            This
Subscription Agreement represents the entire agreement of the parties hereto relating to the subject matter hereof and there are no representations,
covenants or other agreements relating to the subject matter hereof except as stated or referred to herein. Neither this Subscription
Agreement nor any provision hereof shall be modified, changed, discharged or terminated except by an instrument in writing signed by
the party against whom any waiver, change, discharge or termination is sought.

 

18.            The
covenants, representations and warranties contained herein shall survive the closing of the transactions contemplated hereby.

 

19.            In
this Subscription Agreement (including attachments), references to “$” or “Cdn. $” are to Canadian dollars.

 

20.            The
parties hereto acknowledge and confirm that they have requested that this Subscription Agreement as well as all notices and other documents
contemplated hereby be drawn up in the English language. Les parties aux présentes reconnaissent et confirment qu’elles
ont convenu que la présente convention de souscription ainsi que tous les avis et documents qui s’y rattachent soient rédigés
dans la langue anglaise.

 

    Page 15

     

    

 

SCHEDULE I

REPRESENTATION LETTER

(FOR CANADIAN ACCREDITED INVESTORS)

 

		TO:	ProMIS Neurosciences Inc. (the “Corporation”)

 

In connection with the purchase of units of the
Corporation (“Units”) by the undersigned subscriber or, if applicable, the principal on whose behalf the undersigned
is purchasing as agent (the “Subscriber” for the purposes of this Schedule I), the Subscriber hereby represents, warrants,
covenants and certifies to the Corporation that:

 

		1.	The Subscriber is purchasing the Units as principal
                                            for its own account or is deemed to be acting as principal pursuant to applicable securities
                                            laws, including National Instrument 45-106 entitled “Prospectus and Registration Exemptions”
                                            (“NI 45-106”);

 

		2.	The Subscriber is an “accredited investor”
                                            within the meaning of applicable securities laws, including NI 45-106, by virtue of satisfying
                                            one or more of the categories set out in Appendix “A” to this Representation
                                            Letter;

 

		3.	If the Subscriber is an individual, he or she
                                            has completed the attached Form 45-106F9 -- Form for Individual Accredited
                                            Investors set out in Appendix “B” to this Representation Letter unless
                                            the individual qualifies under a category set out in Appendix “A” other than
                                            (j), (k) or (l) of the definition of “accredited investor”;
                                            and

 

		4.	Upon execution of this Schedule I by the Subscriber,
                                            this Schedule I shall be incorporated into and form a part of the Subscription Agreement.

 

Dated: _______________________, 2019.

 

	 	 
	 	Print name of Subscriber
	 	 
	 	By:	 
	 	 	Signature
	 	 	 
	 	 	 
	 	 	Print name of Signatory (if different from Subscriber)
	 	 	 
	 	 	 
	 	 	Title

 

IMPORTANT: PLEASE INITIAL APPENDIX “A”
OVER PAGE

 

    Page 1

     

    

 

APPENDIX “A”

TO SCHEDULE 1

 

NOTE: THE SUBSCRIBER MUST INITIAL BESIDE THE APPLICABLE PORTION
OF THE DEFINITION BELOW AND COMPLETE EACH QUESTION WHICH FOLLOWS THE APPLICABLE PORTION OF THE DEFINITION.

 

Accredited
Investor – (as defined in National Instrument 45-106, and in Ontario, as defined in Section 73.3 of the Securities
Act (Ontario) as supplemented by the definition in National Instrument 45-106) includes:

 

	_______	(a)	except in Ontario, a Canadian financial institution, or a Schedule
III bank,
	_______	(a.1)	in Ontario, a financial institution described in paragraph
1, 2 or 3 of subsection 73.1 (1) of the Securities Act (Ontario),
	_______	(b)	except in Ontario, the Business Development Bank of Canada
incorporated under the Business Development Bank of Canada Act (Canada),
	_______	(b.1)	in Ontario, the Business Development Bank of Canada,
	_______	(c)	except in Ontario, a subsidiary of any person referred to in
paragraphs (a) or (b), if the person owns all of the voting securities of the subsidiary, except the voting securities required
by law to be owned by directors of that subsidiary,
	_______	(c.1)	in Ontario, a subsidiary of any person or Corporation referred
to in clause (a.1) or (b.1), if the person or Corporation owns all of the voting securities of the subsidiary, except the voting securities
required by law to be owned by directors of that subsidiary,
	_______	(d)	except in Ontario, a person registered under the securities
legislation of a jurisdiction of Canada as an adviser or dealer,
	_______	(d.1)	in Ontario, a person or Corporation registered under the securities
legislation of a province or territory of Canada as an adviser or dealer, except as otherwise prescribed by the regulations,
	_______	(e)	an individual registered under the securities legislation of
a jurisdiction of Canada as a representative of a person referred to in paragraph (d),
	_______	(e.1)	an individual formerly registered under the securities legislation
of a jurisdiction of Canada, other than an individual formerly registered solely as a representative of a limited market dealer under
one or both of the Securities Act (Ontario) or the Securities Act (Newfoundland and Labrador),
	_______	(f)	except in Ontario, the Government of Canada or a jurisdiction
of Canada, or any crown corporation, agency or wholly owned entity of the Government of Canada or a jurisdiction of Canada,

 

     

     

    

 

	_______	(f.1)	in Ontario, the Government of Canada, the government of a province
or territory of Canada, or any Crown corporation, agency or wholly owned entity of the Government of Canada or of the government of a
province or territory of Canada,
	_______	(g)	a municipality, public board or commission in Canada and a
metropolitan community, school board, the Comité de gestion de la taxe scolaire de l’île de Montréal or an
intermunicipal management board in Québec,
	_______	(h)	any national, federal, state, provincial, territorial or municipal
government of or in any foreign jurisdiction, or any agency of that government,
	_______	(i)	except in Ontario, a pension fund that is regulated by the
Office of the Superintendent of Financial Institutions (Canada), a pension commission or similar regulatory authority of a jurisdiction
of Canada,
	_______	(i.1)	in Ontario, a pension fund that is regulated by either the
Office of the Superintendent of Financial Institutions (Canada) or a pension commission or similar regulatory authority of a province
or territory of Canada,
	_______	(j)  	an individual who, either alone or with a spouse, beneficially owns financial assets having an aggregate realizable value that before taxes, but net of any related liabilities, exceeds $1,000,000, 

[If this is your applicable category, you must also complete Form 45-106F9 attached as Appendix B]
	_______	(j.1)	an individual who beneficially owns financial assets having an aggregate realizable value that, before taxes but net of any related liabilities, exceeds $5,000,000, 
	_______	(k)       	an individual whose net income before taxes exceeded $200,000 in each of the 2 most recent calendar years or whose net income before taxes combined with that of a spouse exceeded $300 000 in each of the 2 most recent calendar years and who, in either case, reasonably expects to exceed that net income level in the current calendar year, 

[If this is your applicable category, you must also complete Form 45-106F9 attached as Appendix B]
	_______	(l)       	an individual who, either alone or with a spouse, has net assets of at least $5,000,000, 

[If this is your applicable category, you must also complete Form 45-106F9 attached as Appendix B]
	_______	(m)	a person, other than an individual or investment fund, that has net assets of at least $5,000,000 as shown on its most recently prepared financial statements,

	_______	(n)       	an investment fund that distributes or has distributed its securities only to:
	 	 	(i)  	a person that is or was an accredited investor at the time of the distribution,

     

     

    

 

	 	 	(ii)   	a person that acquires or acquired securities in the circumstances referred to in sections 2.10 [Minimum amount investment], or 2.19 [Additional investment in investment funds], or
	 	 	(iii)	a person described in paragraph (i) or (ii) that acquires or acquired securities under section 2.18 [Investment fund reinvestment],
	_______	(o)	an investment fund that distributes or has distributed securities under a prospectus in a jurisdiction of Canada for which the regulator or, in Québec, the securities regulatory authority, has issued a receipt,
	_______	(p)	a trust Corporation or trust corporation registered or authorized to carry on business under the Trust and Loan Companies Act (Canada) or under comparable legislation in a jurisdiction of Canada or a foreign jurisdiction, acting on behalf of a fully managed account managed by the trust Corporation or trust corporation, as the case may be,
	_______	(q)	a person acting on behalf of a fully managed account managed by that person, if that person is registered or authorized to carry on business as an adviser or the equivalent under the securities legislation of a jurisdiction of Canada or a foreign jurisdiction,
	_______	(r)	a registered charity under the Income Tax Act (Canada) that, in regard to the trade, has obtained advice from an eligibility adviser or an adviser registered under the securities legislation of the jurisdiction of the registered charity to give advice on the securities being traded,
	_______	(s)	an entity organized in a foreign jurisdiction that is analogous to any of the entities referred to in paragraphs (a) to (d) paragraph (i) [and in Ontario, paragraphs (a.1) to (d.1) or paragraph (i.1)] in form and function,
	_______	(t)	a person in respect of which all of the owners of interests, direct, indirect or beneficial, except the voting securities required by law to be owned by directors, are persons that are accredited investors 
	_______	(u)	an investment fund that is advised by a person registered as an adviser or a person that is exempt from registration as an adviser,
	_______	(v)	a person that is recognized or designated by the securities regulatory authority or, except in Ontario and Québec, the regulator as an accredited investor, 
	_______	(v.1)	in Ontario, a person or Corporation that is recognized or designated by the Commission as an accredited investor,

	_______	(w)	a trust established by an accredited investor for the benefit
of the accredited investor’s family members of which a majority of the trustees are accredited investors and all of the beneficiaries
are the accredited investor’s spouse, a former spouse of the accredited investor or a parent, grandparent, brother, sister, child
or grandchild of that accredited investor, of that accredited investor’s spouse or of that accredited investor’s former spouse.

 

     

     

    

 

	Dated: __________________, 201__.	 
	 	 
	 	 
	Print name of Subscriber	 
	 	 
	 	 
	Signature	 
	 	 
	 	 
	Print name of Signatory (if different from
    Subscriber)	 
	 	 
	 	 
	Title	 

 

     

     

    

 

For the purposes hereof:

 

	 	“control person” has the meaning ascribed to that term in securities legislation except in Manitoba, Ontario, Quebec, Nova Scotia, Newfoundland and Labrador, Prince Edward Island, the Northwest Territories and Nunavut where “control person” means any person that holds or is one of a combination of persons that hold:  

 

	 	(i)	a sufficient number of any of the securities of an issuer so as to affect materially the control of the issuer; or
	 	 	 
	 	(ii)	more than 20% of the outstanding voting securities of an issuer except where there is evidence showing that the holding of those securities does not affect materially the control of that issuer;  

 

	 	“eligibility adviser” means:

 

	 	(i)	a person that is registered as an investment dealer or in an equivalent category of registration under the securities legislation of the jurisdiction of a Subscriber and authorized to give advice with respect to the type of security being distributed; and
	 	 	 
	 	(ii)	in Saskatchewan or Manitoba, also means a lawyer who is a practicing member in good standing with a law society of a jurisdiction of Canada or a public accountant who is a member in good standing of an institute or association of chartered accountants, certified general accountants or certified management accountants in a jurisdiction of Canada provided that the lawyer or public accountant must not:

 

	 	  (A)	have a professional, business or personal relationship with the issuer, or any of its directors, executive officers, founders or control persons; and
	 	 	 
	 	  (B)	have acted for or been retained personally or otherwise as an employee, executive officer, director, associate or partner of a person that has acted for or been retained by the issuer or any of its directors, executive officers, founders or control persons within the previous 12 months;  

 

	 	“financial assets” means (i) cash, (ii) securities or (iii) a contract of insurance, a deposit or an evidence of a deposit that is not a security for the purposes of securities legislation. These financial assets are generally liquid or relatively easy to liquidate. The value of a purchaser’s personal residence would not be included in a calculation of financial assets;  
	 	 
	 	“financial statements” for the purposes of paragraph (m) of the “accredited investor” definition must be prepared in accordance with generally accepted accounting principles;  
	 	 
	 	“founder” means, in respect of an issuer, a person who:

 

	 	(i)	acting alone, in conjunction or in concert with one or more persons, directly or indirectly, takes the initiative in founding, organizing or substantially reorganizing the business of the issuer; and
	 	 	 
	 	(ii)	at the time of the trade is actively involved in the business of the issuer;  

 

	 	“fully managed account” means an account of a client for which a person makes the investment decisions if that person has full discretion to trade in securities for the account without requiring the client’s express consent to a transaction;  
	 	 
	 	“investment fund” has the meaning ascribed thereto in National Instrument 81-106 - Investment Fund Continuous Disclosure;  

 

     

     

    

 

	 	“net assets” means all of the purchaser’s total assets minus all of the purchaser’s total liabilities. Accordingly, for the purposes of the net asset test, the calculation of total assets would include the value of a purchaser’s personal residence and the calculation of total liabilities would include the amount of any liability (such as a mortgage) in respect of the purchaser’s personal residence. To calculate a purchaser’s net assets under the “accredited investor” definition, subtract the purchaser’s total liabilities from the purchaser’s total assets (including real estate). The value attributed to assets should reasonably reflect their estimated fair value. Income tax should be considered a liability if the obligation to pay it is outstanding at the time of the distribution of the security;  
	 	 
	 	“related liabilities” means:
	 	 
	 	(i)	liabilities incurred or assumed for the purpose of financing the acquisition or ownership of financial assets; or
	 	 	 
	 	(ii)	liabilities that are secured by financial assets;  
	 	 	 
	 	“spouse” means an individual who:
	 	 
	 	(i)	is married to another individual and is not living separate and apart within the meaning of the Divorce Act (Canada), from the other individual; 
	 	 	 
	 	(ii)	is living with another individual in a marriage-like relationship, including a marriage-like relationship between individuals of the same gender; or
	 	 	 
	 	(iii)	in Alberta, is an individual referred to in paragraph (i) or (ii) immediately above or is an adult interdependent partner within the meaning of the Adult Interdependent Relationships Act (Alberta); and  

 

     

     

    

 

APPENDIX “B”

TO SCHEDULE 1

 

Form 45-106F9 - Form for Individual
Accredited Investors

 

	WARNING!

This
investment is risky. Don’t invest unless you can afford to lose all the money you pay for this investment.

 

	SECTION 1 TO BE COMPLETED BY ISSUER OR SELLING SECURITY HOLDER
	1.   About your investment
	Type of securities:   Common Shares and Warrants	Issuer:  ProMIS Neurosciences Inc.

	SECTIONS 2 TO 4 TO BE COMPLETED BY THE PURCHASER
	2.   Risk acknowledgement
	This investment is risky. Initial that you understand that:	Your

 initials
	Risk of loss – You could lose your entire investment of $________.	 
	Liquidity risk – You may not be able to sell your investment quickly – or at all.	 
	Lack of information – You may receive little or no information about your investment.	 
	Lack
    of advice – You may not receive advice from the salesperson about whether this investment is suitable for you unless the
    salesperson is registered. The salesperson is the person who meets with, or provides information to, you about making this investments.
    To check whether the salesperson is registered, go to www.aretheyregistered.ca.	 
	3.   Accredited investor status
	You must meet at least one of the following criteria to be able to make this investment. Initial the statement that applies to you. (You may initial more than one statement.) The person identified in section 6 is responsible for ensuring that you meet the definition of accredited investor. That person, or the salesperson identified in section 5, can help you if you have questions about whether you meet these criteria.	Your

 initials
	·    Your net income before taxes was more than $200,000 in each for the 2 most recent calendar years, and you expect it to be more than $200,000 in the current calendar year. (You can find your net income before taxes on your personal income tax return.)	 

 

 

     

     

    

 

	·    Your net income before taxes combined with your spouse’s was more than $300,000 in each of the 2 most recent calendar years, and you expect your combined net income before taxes to be more than $300,000 in the current calendar year.	 
	·    Either alone or with your spouse, you own more than $1 million in cash and securities, after subtracting any debt related to the case and securities.	 
	·    Either alone or with your spouse, you may have net assets worth more than $5 million. (Your net assets are your total assets (including real estate) minus your total debt.)	 
	4.   Your name and signature
	By signing this form, you confirm that you have read this form and you understand the risks of making this investment as identified in this form.
	First and last name (please print):

	Signature:	Date: 
	SECTION 5 TO BE COMPLETED BY SALESPERSON
	5.   Salesperson information
	[Instruction: The salesperson is the person who meets with, or provides information to, the purchaser with respect to making this investment. That could include a representative of the issuer or selling security holder, a registrant or a person who is exempt from the registration requirement.]
	First and last name of salesperson (please print):
	Telephone:	Email:
	Name of firm (if registered):
	SECTION 6 TO BE COMPLETED BY THE ISSUER OR SELLING SECURITY HOLDER

	6.   For
    more information about this investment
	ProMIS
    Neurosciences Inc.

    Kristi Lanier, Finance Director

    Tel: [***]

    E-mail: [***]

    Website: www.promisneurosciences.com

    For more information about prospectus exemptions, contact your local securities regulator. You can find contact information at
    www.securities-administrators.caExhibit 10.18

 

Certain identified information has been
excluded from the exhibit pursuant to Item 601(a)(6) of Regulation S-K due to personal privacy concerns. Redacted information is indicated
by: [***]

 

U.S. Persons only (Nov. 27, 2018)

 

PROMIS NEUROSCIENCES INC.

SUBSCRIPTION AGREEMENT

FOR

U.S. PERSONS

 

	HAVE YOU COMPLETED THIS SUBSCRIPTION AGREEMENT PROPERLY?

    The following items in this Subscription Agreement must be completed.
    (Please initial each box.)

	 
	 	 	Provide
    information and answers in the boxes on pages 1, 2 and 3.
	 
	 	 	Sign the execution page on
    page 1 of this Subscription Agreement.
	 
	 	 	Complete Schedule “1”,
    Accredited Investor Certificate and sign
	 
	 	 	 

Delivery of Subscription forms may be made
by

 

email to: [***]

 

courier/mail
to:

 

ProMIS Neurosciences Inc. Attention: CFO

1920 Yonge Street, Suite 200, Toronto, ON M4S 3E2

 

Delivery of
certified cheque, money order or bank draft may be made by courier/mail to:

 

ProMIS Neurosciences Inc. Attention: CFO

1920 Yonge Street, Suite 200, Toronto, ON M4S 3E2

 

Alternatively, delivery of funds may also be made via electronic
wire transfer in accordance with the wire transfer instructions set forth below:

 

To wire US $ funds:

 

Beneficiary Bank: [***]

Bank Address: [***]

Account # [***]

Bank #:[***]

SWIFT Code: [***]

Currency: [***]

Beneficiary: PROMIS NEUROSCIENCES INC.

Beneficiary address: 1920 Yonge Street, Suite 200, Toronto, ON M4S
3E2

 

Intermediary/Correspondent Bank: [***]

SWIFT Code: [***]

ABA #: [***]

 

If you wish to wire funds in currency other than US$, please
contact the Corporation by email: [***]__________________________________________________

 

     

     

    

 

SUBSCRIPTION FOR UNITS

 

		TO:	ProMIS Neurosciences Inc. (the “Corporation”)

The undersigned (the “Subscriber”, including, if applicable, each Disclosed Principal (as hereinafter defined) for
whom the undersigned is acting hereunder) hereby irrevocably subscribes for and agrees to purchase the number of units of the Corporation
(the “Units”) set forth below for the aggregate subscription amount set forth below (the “Aggregate Subscription
Amount”), representing a subscription price of US$0.173 per Unit (or CDN$0.23 per Unit) on the terms and conditions
set forth in “Terms and Conditions of Subscription for Units of ProMIS Neurosciences Inc..” attached hereto (together with
the face pages and the attached Schedules, the “Subscription Agreement”). Each Unit consists of one common share of
the Corporation (a “Common Share”) and one transferable share purchase warrant (a “Warrant”).

 

Each whole Warrant entitles the holder to purchase
one Common Share (a “Warrant Share”) at any time for a five year period, subject to acceleration (as noted below),
at a price of CDN$0.48 per Warrant Share. At any time after the expiry of the four-month hold period applicable to the Warrants,
the Corporation may accelerate the expiry of the Warrants if if either one of the conditions (a “Trigger Condition”)
below is met:

 

		(i)	the twenty-day volume-weighted average
                                            trading price (“20 day VWAP”) of the Common Shares on the TSX, and/or
                                            such other exchange on which the Common Shares may be listed, is greater than CDN$1.00, or

 

		(ii)	the Corporation enters into a partnering
                                            deal within eighteen months of the Closing of this Subscription that results in minimum proceeds
                                            to the Corporation of US$5M and the 20 day VWAP is greater than CDN$0.48 at any time following
                                            the announcement of such a partnering deal,

 

provided that, in either case, (i)
the Corporation disseminates a press release announcing the occurrence of the applicable Trigger Condition, and (ii) the accelerated
expiry date is not less than 30 calendar days after such news release is disseminated.

 

For greater certainty, the 20 day VWAP of the
Common Shares shall be calculated by dividing the total value by the total volume of Common Shares traded (on all exchanges, including
the TSX and such other exchange on which the Common Shares may be listed) for the twenty trading days immediately preceding the applicable
date.

 

The Units, the Common Shares, the Warrants and
the Warrant Shares are hereinafter referred to together as the “Securities”.

 

	 

     

    Number of Units:                                                                         

     
	 

     

    Aggregate Subscription Amount: US$                                                           

     

	Name
    and Signature of Subscriber
	Individual
    Subscriber 	 	Non-Individual
    Subscriber (e.g., Corporation)
	 	 	 
	(Print
    Name of Individual Subscriber) 	 	(Print
    Name of Non-Individual Subscriber) 
	 	 	 
	(Signature
    of Individual Subscriber) 	 	(Signature
    of Authorized Signatory) 
	 	 	 
	 	 	(Print
    Name and Official Capacity or Title of Signatory) 

    The signatory represents that he has authority to bind the Subscriber. 
	 	 	 	 

     Page 1

     

    

 

	ONLY IF the Subscriber is signing as agent or trustee
    for a principal (a “Disclosed Principal”) and is not purchasing as trustee or agent for accounts fully managed by it,
    so as to be deemed to be purchasing as principal pursuant to National Instrument 45-106, complete the following and, if applicable,
    ensure that all Schedules are completed on behalf of such Disclosed Principal:

     

    _____________________________________________________________________________________________

    (Name of Disclosed Principal and, if Disclosed Principal is not an individual, of the contact person of Disclosed Principal)

     

    _____________________________________________________________________________________________

    (Address and Telephone Number of Disclosed Principal or, if Disclosed Principal is not an individual, of the contact person of Disclosed
    Principal) 

 

	Address of Subscriber
    - Residential for Individual / Business for Non-Individual Subscriber
	 	 	 
	Address of Subscriber	 	(Telephone Number)
	 	 	 
	City, Province, Postal Code	 	(Facsimile Number)
	 	 	 
	 	 	(Email
    address)

 

 

	REGISTRATION INSTRUCTIONS 

     
	 	DELIVERY INSTRUCTIONS
	Register the Common Shares and Warrants as set forth below
    (only complete if different from above):

     

    

 

    (Name)

     

     

    

 

    (Account reference, if applicable)

     

     

    

 

    (Address)

     

     

     

     

     

     

     
	 	Deliver the Common Shares and Warrants as set forth below:

     

     

    

 

    (Name)

     

     

    

 

    (Account reference, if applicable)

     

     

    

 

    (Contact Name)

     

     

    

 

    (Address)

     

    

 

     

 

INFORMATION REGARDING THE SUBSCRIBER

 

Please check the appropriate box (and complete
the required information, if applicable) in each section:

 

		1.	Security Holdings. Prior to giving effect
                                            to the issuance of the securities being subscribed for under this Subscription Agreement,
                                            the Subscriber and all persons acting jointly and in concert with the Subscriber currently
                                            own, directly or indirectly, or exercise control or direction over (provide additional detail
                                            as applicable):

 

		 ̈	_________________
                                            common shares of the Corporation and the following other kinds of rights and convertible
                                            securities (including but not limited to convertible debt, warrants and options) entitling
                                            the Subscriber to acquire additional common shares of the Corporation:

 

     Page 2

     

    

 

	 	 	 

 

	 	 	 

 

		 ̈	No
                                            shares of the Corporation or rights or securities convertible into shares of the Corporation.

 

		2.	Insider Status. The Subscriber either:

 

		 ̈	Is
                                            an “Insider” of the Corporation as defined in the Policies of the Exchange (as
                                            hereinafter defined) by virtue of being:

 

		(a)	a director or executive officer of the Corporation;

		(b)	a director or executive officer of a company
                                            that is an Insider or subsidiary of the Corporation;

		(c)	a person that beneficially owns or controls,
                                            directly or indirectly, voting shares of the Corporation carrying more than 10% of the voting
                                            rights attached to all the Corporation’s outstanding voting shares; or

		(d)	the Corporation itself if it holds any of
                                            its own securities.

 

		 ̈	Is
                                            not an Insider of the Corporation.

 

		3.	Pro Group Status. The Subscriber either:

 

		 ̈	Is
                                            a Member of the “Pro Group”, which is defined in the Rules of the Exchange as
                                            either individually or as a group:

 

		1.	the member (i.e. a member of the Exchange
                                            under the Exchange requirements);

		2.	employees of the member;

		3.	partners, officers and directors of the member;

		4.	affiliates of the member;

		5.	such other persons as the Exchange may determine;
                                            and

		6.	associates of any parties referred to in
                                            paragraphs 1 through 5 above.

 

		 ̈	Is
                                            not a member of the Pro Group.

 

		4.	Registrant Status. The Subscriber either:

 

		 ̈	Is
                                            a “Registrant” as defined in the Securities Act (British Columbia) by
                                            virtue of being a person registered or required to be registered under the Securities
                                            Act (British Columbia.

 

		 ̈	Is
                                            not a Registrant.

 

     Page 3

     

    

 

ACCEPTANCE:                The
Corporation hereby accepts the subscription as set forth above on the terms and conditions contained in this Subscription Agreement.

 

                                           , 
2018.

 

	PROMIS NEUROSCIENCES INC.	 
	 	 	 
	By:	 	 

 

 

     Page 4

     

    

 

TERMS AND CONDITIONS OF SUBSCRIPTION FOR

UNITS OF PROMIS NEUROSCIENCES INC.

Terms of the Offering

 

1.                                 The
Subscriber acknowledges (on its own behalf and, if applicable, on behalf of each person on whose behalf the Subscriber is contracting)
that this subscription is subject to acceptance or rejection by the Corporation, in its sole and absolute discretion, in whole or in
part. The parties agree that this Subscription and all money tendered herewith will be returned to the Subscriber, without interest or
deduction, if this Subscription is not accepted by the Corporation.

 

2.                                 The
Subscriber acknowledges (on its own behalf and, if applicable, on behalf of each person on whose behalf the Subscriber is contracting)
that:

 

(a)                
the Corporation is offering (the “Offering”) the Units on a private placement basis under the terms of this
Subscription Agreement;

 

(b)               
notwithstanding section 2(a) above, this Offering will not in any way restrict the Corporation from issuing additional securities
of the Corporation at prices, on terms and in amounts as may be determined by the Corporation, in its sole and absolute discretion, including
an amendment to the Offering to increase the size of the Offering; and

 

(c)                
the issuance of the Units shall be subject to any conditions that may be imposed by the Exchange as part of the Exchange’s
acceptance of the Offering, including, without limitation, in the event that the issuance of the Units hereunder may result in, or be
part of a transaction that may result in:

 

(i)               
the issuance of listed Shares representing more than 25% of the number of Shares which are outstanding on a non-diluted basis
prior to the Closing (the “25% Dilution Rule”);

 

(ii)              
the issuance of listed Shares during any six month period to insiders representing more than 10% of the number of Shares which
are outstanding on a non-diluted basis prior to the Closing (the “10% Insider Rule”); or

 

(iii)             
the issuance of listed Shares that will materially affect control of the Corporation.

 

Representations and Warranties of the Corporation

 

3.                                 The
Corporation hereby represents and warrants to the Subscriber (and acknowledges that the Subscriber is relying thereon) that:

 

(a)                The Corporation is a duly amalgamated and validly subsisting corporation under the laws of Canada and has full corporate power
and authority to perform each of its obligations as herein contemplated.

 

(b)               
The Corporation is listed on the TSX (the “Exchange”) and as a result is subject to the rules and policies
of the Exchange.

 

(c)                The Corporation is a “reporting issuer” in good standing under the securities laws of the provinces of Ontario, British
Columbia and Alberta.

 

(d)               
This Subscription Agreement, when accepted by the Corporation, will constitute a legal, valid and binding obligation of the Corporation
enforceable in accordance with its terms.

 

(e)                
The execution and delivery of, and the performance of the terms of this Subscription Agreement by the Corporation, including the
issue of the Securities, does not and will not constitute a breach of or default under the constating documents of the Corporation or
any law, regulation, order or ruling applicable to the Corporation or any agreement, contract or indenture to which the Corporation is
a party or by which it is bound.

 

     Page 5

     

    

 

(f)                 
 The Corporation is not a party to any actions, suits or proceedings which could materially affect its business or financial condition,
and, as at the date hereof, no such actions, suits or proceedings have been threatened or, to the best of the Corporation’s knowledge,
are pending, except as disclosed in information which has been filed by the Corporation with the various Canadian securities commissions
under applicable securities legislation and the Exchange.

 

(g)               
The sale, issuance and delivery of the Units at the closing (the “Closing”) will have been approved by all
requisite corporate action on or before the Closing Date and, upon issue and delivery at the Closing, the Units will be validly issued
as fully paid and non-assessable.

 

(h)               
No order ceasing or suspending trading in the Securities nor prohibiting sale of the Securities has been issued to and is outstanding
against the Corporation or its directors, officers or promoters and to the best of the Corporation’s knowledge no investigations
or proceedings for such purposes are pending or threatened.

 

Acknowledgements, Warranties and Covenants of the Subscriber

 

4.                                 The
Subscriber acknowledges, warrants and agrees (on its own behalf and, if applicable, on behalf of each person on whose behalf the Subscriber
is contracting) that:

 

(a)               the Offering, of which this Subscription Agreement forms a part, is not subject to a minimum subscription level and as such, upon
acceptance by the Corporation, subscription funds are immediately available for use by the Corporation;

 

(b)               no fractional Warrants shall be issued and the Corporation shall round down any fractional number of Warrants to the nearest whole
number;

 

(c)               
the Corporation may complete additional financings in the future which may have a dilutive effect on existing shareholders at
such time, including a Subscriber hereunder;

 

(d)               
it is aware of the characteristics of the Units, the risks relating to an investment therein and of the fact that it may not be
able to resell the Securities except in accordance with limited exemptions under applicable securities legislation and regulatory policy
until expiry of the applicable restriction period and compliance with the other requirements of applicable law, and it agrees that any
certificates (or DRS) representing the Securities may bear the following legend indicating that the resale of such Securities is restricted:

 

“Unless
permitted under securities legislation, the holder of this security must not trade the security before [that
date that is 4 months and a day after the Closing Date].”

 

(e)                
the Closing is subject to the terms of the conditional approval of the Exchange;

 

(f)                the
Corporation may pay fees or issue finder warrants or both to one or more finders in accordance with the policies of the Exchange in connection
with the Offering and subject to compliance with applicable securities laws;

 

(g)               
the issuance of the Units shall be subject to any conditions that may be imposed by the Exchange as part of the Exchange’s
acceptance of the Offering, including, without limitation, the conditions noted in paragraphs 4(h) and 4(i);

 

(h)               
in the event that the issuance of the Units hereunder may result in, or be part of a transaction that may result in, either or
both

 

(i)                 
the issuance of listed Shares representing more than 25% of the number of Shares which are outstanding on a non-diluted basis
prior to the Closing; or

 

     Page 6

     

    

 

(ii)               
 the issuance of listed Shares during any six month period to insiders representing more
than 10% of the number of Shares which are outstanding on a non-diluted basis prior to the Closing;

 

the Exchange may require
as a condition of its acceptance of the Offering that the Corporation obtain shareholder approval (excluding, in the case of the 10%
Insider Rule, the votes attached to the Shares held by Insiders and their associates and affiliates); and

 

(i)                 
in the event that the issuance of the Units may result in, or be part of a transaction that may result in, the creation of a new
 “Insider” or a new “Control Person”, the Exchange may require as a condition of its acceptance of the Offering,
that the Corporation obtain shareholder approval (excluding the votes attached to the Units held by the new Insider or new Control Person
and its associates and affiliates) of the new Insider or new Control Person, as the case may be, prior to the issue of a portion or all
of the Units.

 

5.                                 The
Subscriber (on its own behalf and, if applicable, on behalf of each person on whose behalf the Subscriber is contracting) represents,
warrants and covenants to the Corporation that:

 

(a)                
it has been independently advised as to the restrictions with respect to trading in the Securities imposed by applicable securities
legislation, and no representation has been made to it by or on behalf of the Corporation with respect thereto;

 

(b)               
it has not received or been provided with, nor has it requested, nor does it have any need to receive, any prospectus or offering
memorandum, or any other document describing the business and affairs of the Corporation which has been prepared for delivery to, and
review by, prospective purchasers in order to assist it in making an investment decision in respect of the Units;

 

(c)                
it has relied solely upon information publicly available on SEDAR (at www.sedar.com) relating to the Corporation and not
upon any oral or written representation as to fact or otherwise made by or on behalf of the Corporation and it does not have knowledge
of any “material fact” (as defined under applicable securities legislation) about the Corporation that has not been publicly
disclosed;

 

(d)               
the Subscriber is resident in the province set out in the “Subscriber’s Address”, which is the ordinary residence
or place of business of the Subscriber and such beneficial purchaser, if applicable, and, if the Subscriber is a corporate entity, it
was not created nor is it used solely for the purpose of acquiring the Units;

 

(e)                
the Subscriber is purchasing the Units to be held for investment purposes only and not with a view to immediate resale or distribution
and will not recall or otherwise transfer or dispose of the Units except in accordance with the provisions of applicable securities legislation;

 

(f)                 
if the Subscriber is purchasing the Units as principal for its own account, it is purchasing such Units for investment only and
not for the benefit of any other person and not with a view to the resale or distribution of all or any of the Units;

 

(g)               
if it is not purchasing as principal (and is not otherwise deemed to be purchasing as principal for the purposes of the applicable
prospectus exemption under applicable provincial and territorial securities laws in Canada),

 

(i)                 
it is duly authorized to enter into this Subscription Agreement and to execute all documentation in connection with the purchase
on behalf of each beneficial purchaser, each of whom is purchasing as principal for its own account, not for the benefit of any other
person, and not with a view to the resale or distribution of all or any of the Securities;

 

(ii)               
it and each beneficial purchaser has provided to the Corporation all of the information required by pages 1 to 3 of this Subscription
Agreement and it acknowledges that the Corporation may be required by law to disclose to certain regulatory authorities the identity
of each beneficial purchaser of Units for whom it may be acting; and

 

(iii)             
each of the principals complies with subparagraph (h)(ii);

 

     Page 7

     

    

 

(h)               
 the Subscriber is a U.S. Investor and:

 

(i)                 
it is aware that none of the Securities have been nor will be registered under the United States Securities Act of 1933,
as amended (“U.S. Securities Act”) and that these securities may not be offered or sold in the United States without
registration under the U.S. Securities Act or compliance with requirements of an exemption from registration; and

 

(ii)               
has completed Schedule I - U.S. Accredited Investor Certificate;

 

(i)                 
the Subscriber has no intention to distribute either directly or indirectly any of the Securities in the United States or to any
U.S. Persons (as defined in Schedule I - U.S. Accredited Investor Certificate ) and is not subscribing as part of a scheme to avoid the
registration requirements of the U.S. Securities Act;

 

(j)                 
it acknowledges that:

 

(i)                no securities commission or similar regulatory authority has reviewed or passed on the merits of the Units;

 

(ii)               there is no government or other insurance covering the Units;

 

(iii)             
there are risks associated with the purchase of the Units;

 

(iv)              there are restrictions on the Subscriber’s ability to resell the Securities and it is the responsibility of the Subscriber
to find out what those restrictions are and to comply with them before selling any of the Securities; and

 

(v)               
the Corporation or its agent has advised the Subscriber that the Corporation is relying on an exemption from the requirements
to provide the Subscriber with a prospectus and (except for Subscribers who qualify for a prospectus exemption herein by virtue of being
advised by a registered dealer) to sell the Units through a person or company registered to sell securities under applicable provincial
and territorial securities laws in Canada (including the Securities Act (Ontario) and, as a consequence of acquiring the Units
pursuant to this exemption, certain protections, rights and remedies provided by the Acts, including statutory rights of rescission or
damages, will not be available to the Subscriber;

 

(k)               
if a corporation, partnership, unincorporated association or other entity, it has the legal capacity to enter into and be bound
by this Subscription Agreement and further certifies that all necessary approvals of directors, shareholders, partners or otherwise have
been given and obtained;

 

(l)                 
if an individual, it is of the full age of majority and is legally competent to execute this Subscription Agreement and take all
action pursuant hereto;

 

(m)              
this Subscription Agreement has been duly and validly authorized, executed and delivered by and constitutes a legal, valid, binding
and enforceable obligation of the Subscriber;

 

(n)               
in the case of a subscription by it for Units acting as agent for a disclosed principal, it is duly authorized to execute and
deliver this Subscription Agreement and all other necessary documentation in connection with such subscription on behalf of such principal
and this Subscription Agreement has been duly authorized, executed and delivered by or on behalf of, and constitutes a legal, valid and
binding agreement of, such principal;

 

(o)               
it acknowledges that no representation has been made to it:

 

(i)                as to the future value or price of the Shares;

 

(ii)               that any person will resell or repurchase the Shares; or;

 

(iii)             
that any person will refund the purchase price of the Shares;

 

     Page 8

     

    

 

(p)               
 it has such knowledge in financial and business affairs as to be capable of evaluating the merits and risks of its investment
and it, or where it is not purchasing as principal, each beneficial purchaser, is able to bear the economic risk of loss of its investment;

 

(q)               
it understands that the Units are being offered for sale only on a “private placement” basis and that the sale and
delivery of the Units is conditional upon such sale being exempt from the requirements as to the filing of a prospectus or the preparation
of an offering memorandum in prescribed form or upon the issuance of such orders, consents or approvals as may be required to permit
such sale without the requirement of filing a prospectus or delivering an offering memorandum in prescribed form and that certain protections,
rights and remedies provided by applicable securities legislation, in connection with the filing of a prospectus may not be available
to the Subscriber;

 

(r)                 
if required by applicable securities legislation, regulations, rules, policies or orders or by any securities commission, stock
exchange or other regulatory authority, the Subscriber will execute, deliver, file and otherwise assist the Corporation in filing, such
reports, undertakings and other documents with respect to the issue of the Units as may be required, including, without limitation a
U.S. accredited investor, a representation letter in the form attached as Schedule I;

 

(s)                
the entering into of this Subscription Agreement and the transactions contemplated hereby will not result in a violation of any
of the terms or provisions of any law applicable to the Subscriber, or if the Subscriber is not a natural person, any of the Subscriber’s
constating documents, or any agreement to which the Subscriber is a party or by which it is bound;

 

(t)                 
the funds representing the Aggregate Subscription Amount which will be advanced by the Subscriber hereunder will not represent
proceeds of crime for the purposes of the Proceeds of Crime (Money Laundering) Act (Canada) and the Subscriber acknowledges that
the Corporation may in the future be required by law to disclose the Subscriber’s name and other information relating to this Subscription
Agreement and the Subscriber’s subscription hereunder, on a confidential basis, pursuant to the Proceeds of Crime (Money Laundering)
Act (Canada) and to the best of the Subscriber’s knowledge (i) none of the subscription funds to be provided by the Subscriber
(A) have been or will be derived from or related to any activity that is deemed criminal under the law of Canada, the United States of
America, or any other jurisdiction, or (B) are being tendered on behalf of a person or entity who has not been identified to the Subscriber,
and (ii) it shall promptly notify the Corporation if the Subscriber discovers that any of such representations ceases to be true, and
to provide the Corporation with appropriate information in connection therewith;

 

(u)               
the Corporation’s counsel, McMillan LLP, is acting solely for the Corporation and in connection with the Offering and the
Subscriber may not rely upon McMillan LLP in any respect. The Subscriber acknowledges that it has been encouraged to and should obtain
independent legal, income tax and investment advice with respect to its subscription for Units and accordingly, has been independently
advised as to the meanings of all terms contained herein relevant to the Subscriber for the purposes of giving representations, warranties
and covenants under this Subscription Agreement;

 

(v)               
the information provided by the Subscriber on pages 1, 2 and 3 of this Subscription Agreement and under the heading “Information
Regarding The Subscriber” is true and correct in all material respects and will be true and correct as of the Closing Date;

 

(w)              
it does not act jointly or in concert with any other Subscriber under the Offering for the purposes of the acquisition of the
Units;

 

(x)               
it will not resell the Securities or any of them, except in accordance with the provisions of applicable securities legislation
and stock exchange rules, if applicable, in the future;

 

(y)               
the delivery of this subscription, the acceptance hereof by the Corporation and the issuance of the Units to the Subscriber complies
with all applicable laws of the Subscriber’s jurisdiction of residence and domicile and will not cause the Corporation or any of
its officers or directors to become subject to or require any disclosure, prospectus or other reporting requirement;

 

     Page 9

     

    

 

(z)                
 the Corporation may complete additional financings in the future in order to develop the business of the Corporation and to fund
its ongoing development; there is no assurance that such financings will be available and, if available, on reasonable terms; any such
future financings may have a dilutive effect on current securityholders, including the Subscriber; and if such future financings are
not available, the Corporation may be unable to fund its ongoing development and the lack of capital resources may result in the failure
of its business venture; and

 

(aa)              
the Subscriber is capable of assessing the proposed investment as a result of the Subscriber’s financial experience or as
a result of advice received from a registered person other than the Corporation or any affiliates thereof.

 

Closing

 

6.                                   The
Subscriber agrees to deliver to the Corporation, not later than the Closing Time: (a) this duly completed and executed Subscription Agreement,
including all applicable Schedules hereto and Appendices thereto; and (b) the Aggregate Subscription Amount subscribed for under this
Subscription Agreement in accordance with the Instructions on the Cover Page or payment of the same amount in such other manner as is
acceptable to the Corporation. If payment is made in a currency other than Canadian dollars, the Subscriber acknowledges and agrees that
it shall be responsible to make up for any deficiency in the payment of the Aggregate Subscription Price as a result of the exchange
of such funds into Canadian dollars.

 

7.                                   The
sale of the Units pursuant to this Subscription Agreement will be completed at the offices of McMillan LLP, the Corporation’s counsel,
in Vancouver, British Columbia at 10:00 a.m. (Vancouver time) or such other time as the Corporation may determine (the “Closing
Time”) on such date (the “Closing Date”) the Corporation may determine within 45 days of its acceptance
of this Subscription Agreement. The Corporation may complete the Offering in one or more Closings. At the Closing Time, the Corporation
will deliver, or cause to be delivered, according to the instructions set out under Delivery Instructions herein the certifcates (or
DRS) representing the Units as registered in the name of the Subscriber or its nominee as set out under Registration Instructions provided
that the Subscriber shall have delivered to the Corporation the completed Subscription Agreement and the Aggregate Subscription Amount.

 

8.                                   The
obligations of the parties hereunder are subject to acceptance of the terms of the Offering by the Exchange.

 

9.                                   The
Corporation shall be entitled to rely on delivery of a copy of executed subscriptions by electronic means, and acceptance by the Corporation
of such electronic subscriptions (including, without limitation by facsimile or email delivery) shall be legally effective to create
a valid and binding agreement between the Subscriber and the Corporation in accordance with the terms hereof. Prior to Closing, any funds
advanced to the Corporation on account of the Aggregate Subscription Amount shall constitute a non-interest bearing loan to the Corporation,
which loan shall be due and payable to the Subscriber on the request of the Subscriber in the event that the Closing does not occur within
90 days of its acceptance of this Subscription Agreement.

 

Privacy Legislation

 

(a)                                 The
Subscriber acknowledges and consents to the fact that the Corporation is collecting the Subscriber’s (and any Disclosed Principal
for whom the Subscriber is acting hereunder) personal information (as that term is defined under applicable privacy legislation, including,
without limitation, the Personal Information Protection and Electronic Documents Act (Canada) and any other applicable similar
replacement or supplemental provincial or federal legislation or laws in effect from time to time) for the purpose of completing the
Subscriber’s subscription. The Subscriber acknowledges and consents to the Corporation retaining the personal information for so
long as permitted or required by applicable law or business practices. The Subscriber further acknowledges and consents to the fact that
the Corporation may be required by applicable securities legislation, stock exchange rules and/or Investment Industry Regulatory Organization
of Canada rules to provide regulatory authorities with any personal information provided by the Subscriber respecting itself (and any
Disclosed Principal for whom the Subscriber is acting hereunder). The Subscriber represents and warrants that it has the authority to
provide the consents and acknowledgements set out in this paragraph on behalf of all Disclosed Principals for whom the Subscriber is
acting. In addition to the foregoing, the Subscriber agrees and acknowledges that the Corporation may use and disclose the Subscriber’s
personal information, or that of each Disclosed Principal for whom the Subscriber is acting hereunder, as follows:

 

    Page 10

    

    

 

(i)                  
 for internal use with respect to managing the relationships between and contractual obligations of the Corporation and the Subscriber
or any Disclosed Principal for whom the Subscriber is acting hereunder;

 

(ii)                 
for use and disclosure to the Corporation’s transfer agent and registrar;

 

(iii)                
for use and disclosure for income tax related purposes, including without limitation, where required by law, disclosure to Canada
Revenue Agency;

 

(iv)               
disclosure to securities regulatory authorities (including the TSX) and other regulatory bodies with jurisdiction with respect
to reports of trade and similar regulatory filings;

 

(v)                 disclosure
to a governmental or other authority (including the TSX) to which the disclosure is required by court order or subpoena compelling such
disclosure and where there is no reasonable alternative to such disclosure;

 

(vi)               
disclosure to professional advisers of the Corporation in connection with the performance of their professional services;

 

(vii)             
disclosure to any person where such disclosure is necessary for legitimate business reasons and is made with the Subscriber’s
prior written consent;

 

(viii)             
disclosure to a court determining the rights of the parties under this Subscription Agreement; or

 

(ix)                
for use and disclosure as otherwise required or permitted by law.

 

The Subscriber further acknowledges
and agrees that the TSX collects personal information in forms submitted by the Corporation, which will include personal information
regarding the Subscriber. The Subscriber agrees that the TSX may use this information in the manner provided for in Appendix 6A to the
TSX Company Manual, a copy of which may be viewed at the TSX website, www.tsx.com and is incorporated herein by reference. The
Subscriber further acknowledges that the securities regulatory authorities, including, without limitation, the British Columbia Securities
Commission, the Alberta Securities Commission and the Ontario Securities Commission, collect personal information in forms submitted
to it by the Corporation, including information about the Subscriber, the Subscriber’s address and contact information, and the
Subscriber’s subscription. The Subscriber acknowledges that any such securities commission is entitled to collect the information
under authority granted to each respective regulatory authority under applicable securities legislation for the purpose of administration
and enforcement of the applicable securities legislation. The Subscriber acknowledges that it may obtain information regarding the collection
of this information by contacting, in the case of the British Columbia Securities Commission, British Columbia Securities Commission,
P.O. Box 10142, Pacific Centre, 701 West Georgia Street, Vancouver, British Columbia, V7Y 1L2, Telephone: (604) 899-6500 or (800) 373-6393,
Facsimile: (604) 899-6581, in the case of the Alberta Securities Commission, Alberta Securities Commission, Suite 600, 250 –
5th St. SW, Calgary, Alberta, T2P 0R4, Telephone: (403) 355-4151, Facsimile: (403) 297-6156, and, in the case of the Ontario
Securities Commission, the Administrative Assistant to the Director of Corporate Finance, Ontario Securities Commission, Suite 1903,
Box 5520, Queen Street West, Toronto, Ontario M5H 3S8, Telephone: (416) 593-3682, Facsimile: (416) 593-8252. The Subscriber
consents to the collection of personal information by the applicable securities regulatory authorities, including, without limitation,
the British Columbia Securities Commission, the Alberta Securities Commission and the Ontario Securities Commission.

 

General

 

10.                                 The
Subscriber agrees that the representations, warranties and covenants of the Subscriber herein will be true and correct both as of the
execution of this Subscription Agreement and as of the Closing Time and will survive the issuance of the Units. The representations,
warranties and covenants of the Subscriber herein are made with the intent that they be relied upon by the Corporation in determining
the eligibility of a purchaser of Units and the Subscriber agrees to indemnify the Corporation against all losses, claims, costs, expenses
and damages or liabilities which it may suffer or incur which are caused or arise from an inaccuracy or breach thereof and reliance thereon.
The Subscriber undertakes to immediately notify the Corporation by written notice to ProMIS Neurosciences Inc. sent to its office at
1920 Yonge Street, Suite 200, Toronto, ON M4S 3E2 or by email to [***] of any change in any
statement or other information relating to the Subscriber set forth herein which takes place prior to the Closing Time.

 

    Page 11

    

    

 

11.                                 The
Subscriber acknowledges and agrees that all costs incurred by the Subscriber (including any fees and disbursements of any counsel retained
by the Subscriber) relating to the sale of the Units to the Subscriber shall be borne by the Subscriber.

 

12.                                 The
Subscriber acknowledges that upon a subscription being accepted by the Corporation, the Corporation will, subject to the terms and conditions
set out herein, issue to the Subscriber certificates (or DRS) evidencing the Subscriber’s ownership of the Units.

 

13.                                 The
terms and provisions of this Subscription Agreement shall be binding upon and enure to the benefit of the Subscriber and the Corporation
and their respective heirs, executors, administrators, successors and permitted assigns

 

14.                                 The
contract arising out of this Subscription Agreement and all documents relating thereto shall be governed by and construed in accordance
with the laws of the Province of British Columbia and the federal laws of Canada applicable therein. The parties irrevocably attorn to
the exclusive jurisdiction of the courts of the Province of British Columbia.

 

15.                                 Time
is of the essence of this Subscription Agreement.

 

16.                                 Neither
party to this Subscription Agreement may assign all or part of its interest in or to this Subscription Agreement without the consent
in writing of the other party hereto, except for the assignment by a Subscriber who is acting as nominee or agent to the beneficial owner
and as otherwise herein provided.

 

17.                                 This
Subscription Agreement represents the entire agreement of the parties hereto relating to the subject matter hereof and there are no representations,
covenants or other agreements relating to the subject matter hereof except as stated or referred to herein. Neither this Subscription
Agreement nor any provision hereof shall be modified, changed, discharged or terminated except by an instrument in writing signed by
the party against whom any waiver, change, discharge or termination is sought.

 

18.                                 The
covenants, representations and warranties contained herein shall survive the closing of the transactions contemplated hereby.

 

19.                                 In
this Subscription Agreement (including attachments), references to “$” or “Cdn. $” are to Canadian dollars.

 

20.                                 The
parties hereto acknowledge and confirm that they have requested that this Subscription Agreement as well as all notices and other documents
contemplated hereby be drawn up in the English language. Les parties aux présentes reconnaissent et confirment qu’elles
ont convenu que la présente convention de souscription ainsi que tous les avis et documents qui s’y rattachent soient rédigés
dans la langue anglaise.

 

    Page 12

    

    

 

SCHEDULE I

U.S. ACCREDITED INVESTOR CERTIFICATE

 

In connection with the purchase of Units of ProMIS
Neurosciences Inc. (the “Corporation”) by the undersigned Subscriber, or if applicable, the principal on whose behalf
the undersigned is purchasing as agent, the Subscriber and the Corporation agree that Unit Subscription Agreement is amended (I) to attach
this Certificate thereto and (II) to the extent of any inconsistencies with the Unit Subscription Agreement, have the provisions of this
Certificate prevail to the extent of any inconsistencies with the Unit Subscription Agreement.

 

For the purposes of this Certificate, a “U.S.
Investor” is: (a) any person who is, or who is purchasing Units for the account of or benefit of, a U.S. Person or a person
in the United States; (b) any person who was offered Units in the United States; or (c) any person who executed or delivered the Subscription
Agreement to which this Certificate is attached in the United States. A “U.S. Person” has the meaning assigned in
Rule 902(k) of Regulation S (“Regulation S”) under the United States Securities Act of 1933, as amended (the
 “U.S. Securities Act”), which definition includes: (a) any natural person resident in the United States; (b) any partnership
or corporation organized or incorporated under the laws of the United States; (c) any trust of which any trustee is a U.S. Person; (d)
any partnership or corporation organized outside the United States by a U.S. Person principally for the purpose of investing in securities
not registered under the U.S. Securities Act, unless it is organized or incorporated, and owned, by accredited investors (within the
meaning assigned in Rule 501(a) of Regulation D (“Regulation D”) under the U.S. Securities Act) who are not natural
persons, estates or trusts; (e) any estate of which any executor or administrator is a U.S. person.

 

Capitalized terms not specifically defined in
this Certificate will have the meaning ascribed to them in the Subscription Agreement to which this Certificate is attached.

 

The Subscriber covenants, represents and warrants
to the Corporation that:

 

		(a)	it understands (A) that the Units, the
                                            underlying Common Shares and Warrants, and the Warrant Shares (together with the Common Shares
                                            and Warrants, the “Securities”), have not been and will not be registered
                                            under the U.S. Securities Act or the securities laws of any state of the United States; and
                                            (B) the offer and sale contemplated hereby is being made in reliance on an exemption from
                                            such registration requirements in reliance on Rule 506(b) of Regulation D under the U.S.
                                            Securities Act and/or Section 4(a)(2) of the U.S. Securities Act;

 

		(b)	it has such knowledge and experience in
                                            financial and business matters as to be capable of evaluating the merits and risks of an
                                            investment in the Units and it is able to bear the economic risk of loss of its entire investment;

 

		(c)	the Corporation has provided to it the
                                            opportunity to ask questions and receive answers concerning the terms and conditions of the
                                            Private Placement, and it has had access to such information concerning the Corporation (including
                                            access to the Corporation’s public filings available on the Internet at www.sedar.com)
                                            as it has considered necessary or appropriate in connection with its investment decision
                                            to acquire the Units, and that any answers to questions and any request for information have
                                            been complied with to the Subscriber’s satisfaction;

 

		(d)	it is acquiring the Units for its own
                                            account, or for the account of one or more persons for whom it is exercising sole investment
                                            discretion, (a “Beneficial Purchaser”), for investment purposes only and
                                            not with a view to resale or distribution and, in particular, neither it nor any Beneficial
                                            Purchaser for whose account it is purchasing the Units has any intention to distribute either
                                            directly or indirectly the Securities in the United States or to, or for the account or benefit
                                            of, a U.S. Person or person in the United States; provided, however, that this paragraph
                                            shall not restrict the Subscriber from selling or otherwise disposing of such Securities
                                            pursuant to registration thereof pursuant to the U.S. Securities Act and any applicable state
                                            securities laws, or under an exemption from such registration requirements;

 

    

    14

    

 

		(e)	the address of the Subscriber set out
                                            on the front page of the Subscription Agreement is the true and correct principal address
                                            of the Subscriber and can be relied on by the Corporation for the purposes of state blue-sky
                                            laws and the Subscriber has not been formed for the specific purpose of purchasing the Units;

 

		(f)	it has not purchased the Units as a result
                                            of any form of general solicitation or general advertising (as those terms are used in Regulation
                                            D), including advertisements, articles, press releases, notices or other communications published
                                            in any newspaper, magazine or similar media or on the Internet, or broadcast over radio or
                                            television, or the Internet or other form of telecommunications, including electronic display,
                                            or any seminar or meeting whose attendees have been invited by general solicitation or general
                                            advertising;

 

		(g)	it acknowledges that the Securities
                                            are “restricted securities”, as such term is defined in Rule 144(a)(3) under
                                            the U.S. Securities Act, and may not be offered, sold, pledged, or otherwise transferred,
                                            directly or indirectly, without prior registration under the U.S. Securities Act and applicable
                                            state securities laws, and it agrees that if it decides to offer, sell, pledge or otherwise
                                            transfer, directly or indirectly, any of the Securities absent such registration, it will
                                            not offer, sell, pledge or otherwise transfer, directly or indirectly, such Securities, directly
                                            or indirectly, except (i) to the Corporation, (ii) outside the United States in an “offshore
                                            transaction” meeting the requirements of Rule 904 of Regulation S under the U.S. Securities
                                            Act, if available, and in compliance with applicable local laws and regulations, (iii) in
                                            compliance with the exemption from the registration requirements under the U.S. Securities
                                            Act provided by Rule 144 thereunder, if available, and in accordance with any applicable
                                            state securities or “blue sky” laws, or (iv) in a transaction that does not require
                                            registration under the U.S. Securities Act or any applicable state laws and regulations governing
                                            the offer and sale of securities, and, in the case of each of (iii) and (iv) it has prior
                                            to such sale furnished to the Corporation an opinion of counsel in form and substance reasonably
                                            satisfactory to the Corporation stating that such transaction is exempt from registration
                                            under applicable securities laws and that the legend referred to in paragraph (h) below may
                                            be removed.

 

		(h)	it acknowledges that the certifcates
                                            (or DRS) representing the Common Shares and Warrant Shares, as well as all certifcates (or
                                            DRS) issued in exchange therefor or in substitution thereof, until such time as is no longer
                                            required under the applicable requirements of the U.S. Securities Act or applicable state
                                            securities laws, will bear, on the face of such certifcate (or DRS), the following legend:

 

“THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S.
SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. THE HOLDER HEREOF, BY PURCHASING SUCH SECURITIES, AGREES
FOR THE BENEFIT OF THE COMPANY THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, DIRECTLY OR INDIRECTLY, ONLY
(A) TO THE COMPANY; (B) OUTSIDE THE UNITED STATES IN ACCORDANCE WITH RULE 904 OF REGULATION S UNDER THE U.S. SECURITIES
ACT AND IN ACCORDANCE WITH ALL LOCAL LAWS AND REGULATIONS; (C) IN ACCORDANCE WITH THE EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES
ACT PROVIDED BY RULE 144 THEREUNDER, IF AVAILABLE, AND IN COMPLIANCE WITH ANY APPLICABLE STATE SECURITIES LAWS; OR (D) IN A TRANSACTION
THAT DOES NOT REQUIRE REGISTRATION UNDER THE U.S. SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS, AND, IN THE CASE OF CLAUSE
(C) OR (D), THE SELLER FURNISHES TO THE COMPANY AN OPINION OF COUNSEL OF RECOGNIZED STANDING IN FORM AND SUBSTANCE SATISFACTORY TO THE
COMPANY TO SUCH EFFECT.

 

    

    15

    

 

THE PRESENCE OF THIS LEGEND MAY IMPAIR
THE ABILITY OF THE HOLDER HEREOF TO EFFECT “GOOD DELIVERY” OF THE SECURITIES REPRESENTED HEREBY ON A CANADIAN STOCK EXCHANGE.”

 

provided, that if the Common Share
or the Warrant Shares are being sold outside the United States in compliance with the requirements of Rule 904 of Regulation S and such
Securities were issued at a time when the Corporation qualifies as a “foreign issuer” (as defined in Regulation S), the legend
set forth above may be removed by providing a declaration to the registrar and transfer agent of the Corporation, as set forth in Appendix
 “A” attached hereto (or in such other form as the Corporation may prescribe from time to time); and provided, further, that,
if the Common Shares or Warrant Shares are being sold otherwise than in accordance with Rule 904 of Regulation S and other than to the
Corporation, the legend may be removed by delivery to the registrar and transfer agent and the Corporation of an opinion of counsel of
recognized standing in form and substance satisfactory to the Corporation that such legends are no longer required under applicable requirements
of the U.S. Securities Act or state securities laws;

 

		(i)	it understands and acknowledges that
                                            the Corporation is not obligated to remain a “foreign issuer” within the meaning
                                            of Regulation S;

 

		(j)	it acknowledges that the certificates
                                            representing Warrants, as well as all certificates issued in exchange therefor or in substitution
                                            thereof, until such time as is no longer required under the applicable requirements of the
                                            U.S. Securities Act or applicable state securities laws, will bear, on the face of such certifcate
                                            (or DRS), the following legend:

 

“THE WARRANTS REPRESENTED HEREBY
AND THE SECURITIES ISSUABLE UPON EXERCISE THEREOF HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED
(THE “U.S. SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. THE HOLDER HEREOF, BY PURCHASING SUCH
SECURITIES, AGREES FOR THE BENEFIT OF THE COMPANY THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, DIRECTLY
OR INDIRECTLY, ONLY (A) TO THE COMPANY; (B) OUTSIDE THE UNITED STATES IN ACCORDANCE WITH RULE 904 OF REGULATION S UNDER THE U.S. SECURITIES
ACT AND IN ACCORDANCE WITH ALL LOCAL LAWS AND REGULATIONS; (C) IN ACCORDANCE WITH THE EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES
ACT PROVIDED BY RULE 144 THEREUNDER, IF AVAILABLE, AND IN COMPLIANCE WITH ANY APPLICABLE STATE SECURITIES LAWS; OR (D) IN A TRANSACTION
THAT DOES NOT REQUIRE REGISTRATION UNDER THE U.S. SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS, AND, IN THE CASE OF CLAUSE
(C) OR (D), THE SELLER FURNISHES TO THE COMPANY AN OPINION OF COUNSEL OF RECOGNIZED STANDING IN FORM AND SUBSTANCE SATISFACTORY TO THE
COMPANY TO SUCH EFFECT.

 

THE WARRANTS REPRESENTED HEREBY MAY
NOT BE EXERCISED BY OR ON BEHALF OF A U.S. PERSON OR A PERSON IN THE UNITED STATES UNLESS THE SECURITIES ISSUABLE UPON EXERCISE OF THE
WARRANTS HAVE BEEN REGISTERED UNDER THE U.S. SECURITIES ACT AND THE APPLICABLE SECURITIES LEGISLATION OF ANY SUCH STATE OR EXEMPTIONS
FROM SUCH REGISTRATION REQUIREMENTS ARE AVAILABLE. “UNITED STATES” AND “U.S. PERSON” ARE AS DEFINED BY REGULATION
S UNDER THE U.S. SECURITIES ACT.”

 

		(k)	it understands and acknowledges that
                                            (A) if the Corporation is deemed to have been at any time previously an issuer with no or
                                            nominal operations and no or nominal assets other than cash and cash equivalents, Rule 144
                                            under the U.S. Securities Act may not be available for resales of the Securities, and (B)
                                            the Corporation is not obligated to make Rule 144 under the U.S. Securities Act available
                                            for resales of such Securities;

 

    

    16

    

 

		(l)	it understands and agrees that there
                                            may be material tax consequences to the Subscriber of an acquisition, disposition or exercise
                                            of any of the Securities. The Corporation gives no opinion and makes no representation with
                                            respect to the tax consequences to the Subscriber under United States, state, local or foreign
                                            tax law of the undersigned’s acquisition or disposition of such Securities. In particular,
                                            no determination has been made whether the Corporation will be a “passive foreign investment
                                            company” within the meaning of Section 1297 of the United States Internal Revenue
                                            Code of 1986, as amended;

 

		(m)	it understands and agrees that the financial
                                            statements of the Corporation have been prepared in accordance with International Financial
                                            Reporting Standards as issued by the International Accounting Standards Board, and therefore
                                            may be materially different from financial statements prepared in accordance with U.S. generally
                                            accepted accounting principles and may not be comparable to financial statements of United
                                            States companies;

 

		(n)	it consents to the Corporation making
                                            a notation on its records or giving instruction to the registrar and transfer agent of the
                                            Corporation in order to implement the restrictions on transfer set forth and described herein;

 

		(o)	it understands and acknowledges that the
                                            Corporation is incorporated outside the United States, consequently, it may be difficult
                                            to provide service of process on the Corporation and it may be difficult to enforce any judgment
                                            against the Corporation;

 

		(p)	it understands that the Corporation does
                                            not have any obligation to register the Securities under the U.S. Securities Act or any applicable
                                            state securities laws or to take action so as to permit resales of the Securities. Accordingly,
                                            the Subscriber understands that absent registration, the Subscriber may be required to hold
                                            the Securities indefinitely. As a consequence, the Subscriber understands that it must bear
                                            the economic risks of the investment in the Securities for an indefinite period of time;
                                            and

 

		(q)	it, and if applicable, each Beneficial
                                            Purchaser for whose account it is purchasing the Units, is an “accredited investor”
                                            as defined in Rule 501(a) of Regulation D by virtue of satisfying one or more of the
                                            categories indicated below (please hand-write your initial on the appropriate lines and
                                            write “SUB” for the criteria the Subscriber meets and “BEN” for the
                                            criteria any persons for whose account or benefit the Subscriber is purchasing the Shares
                                            meets):

 

	                 	Category 1.	A bank, as defined in Section 3(a)(2) of the U.S.
    Securities Act, whether acting in its individual or fiduciary capacity; or
	                 	Category 2.	A savings and loan association or other institution as defined
    in Section 3(a)(5)(A) of the U.S. Securities Act, whether acting in its individual or fiduciary capacity; or
	                 	Category 3.	A broker or dealer registered pursuant to Section 15 of the
    U.S. Securities Exchange Act of 1934; or
	                 	Category 4.	An insurance company as defined in Section 2(a)(13) of the
    U.S. Securities Act; or
	                 	Category 5.	An investment company registered under the Investment Company
    Act of 1940; or

 

    

    17

    

 

	                 	Category 6.	A business development company as defined in Section
    2(a)(48) of the Investment Company Act of 1940; or
	                 	Category 7.	A small business investment company licensed by the U.S. Small
    Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958; or
	                 	Category 8.	A plan established and maintained by a state, its political
    subdivision or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, with assets
    in excess of U.S. $5,000,000; or
	                 	Category 9.	An employee benefit plan within the meaning of the Employee
    Retirement Income Security Act of 1974 in which the investment decision is made by a plan fiduciary, as defined in Section 3(21)
    of such act, which is either a bank, savings and loan association, insurance company or registered investment advisor, or an employee
    benefit plan with total assets in excess of U.S. $5,000,000 or, if a self-directed plan, the investment decisions are made solely
    by persons who are accredited investors; or
	                 	Category 10.	A private business development company as defined in Section
    202(a)(22) of the Investment Advisers Act of 1940; or
	                 	Category 11.	An organization described in Section 501(c)(3) of the Internal
    Revenue Code, a corporation, a Massachusetts or similar business trust, or a partnership, not formed for the specific purpose
    of acquiring the Shares, with total assets in excess of U.S. $5,000,000; or
	                 	Category 12.	A director, executive officer or general partner of the Corporation;
    or
	                 	Category 13.	A natural person whose individual net worth, or joint net
    worth with that person’s spouse, exceeds U.S. $1,000,000 (note: for the purposes of calculating net worth, (i) the person’s
    primary residence shall not be included as an asset; (ii) indebtedness that is secured by the person’s primary residence, up
    to the estimated fair market value of the primary residence at the time of the sale of the securities, shall not be included as a
    liability (except that if the amount of such indebtedness outstanding at the time of the sale of the securities exceeds the amount
    outstanding 60 days before such time, other than as a result of the acquisition of the primary residence, the amount of such excess
    shall be included as a liability); and (iii) indebtedness that is secured by the person’s primary residence in excess of the
    estimated fair market value of the primary residence shall be included as a liability); or
	                 	Category 14.	A natural person who had an individual income in excess of
    U.S. $200,000 in each year of the two most recent years or joint income with that person’s spouse in excess of U.S. $300,000
    in each of those years and has a reasonable expectation of reaching the same income level in the current year; or
	                 	Category 15.	A trust, with total assets in excess of U.S. $5,000,000, not
    formed for the specific purpose of acquiring the securities offered, whose purchase is directed by a sophisticated person as described
    in Rule 506(b)(2)(ii) under Regulation D; or

 

    

    18

    

 

	                 	Category 16.	An entity in which each of the equity owners meets
    the requirements of one of the above categories – if this alternative is selected, identify each equity owner and provide statements
    from each demonstrating how they qualified as an accredited investor.

 

Dated _______________, 2018.

 

	 	X	 

	 	Signature of individual (if Subscriber is an individual)

 

	 	X	 

	 	Authorized signatory (if Subscriber is not an individual)

 

	 	 
	 	Name of Subscriber (please print)
	 	 
	 	 
	 	Name of authorized signatory (please print)
	 	 
	 	 
	 	Official capacity of authorized signatory (please print)

 

                 

 

    

    

    

 

Appendix
 “A” to CERTIFICATE

 

Form
of Declaration for Removal of Legend –

Rule 904 Under the U.S. Securities Act of 1933

 

	To:	ProMIS Neurosciences Inc. (the “Corporation”)
	 	 
	To:	Computershare Trust Company of Canada, as registrar and transfer agent
                                 for the common shares of the Corporation.
	 	 

The undersigned (A) acknowledges that the sale
of _________________ common shares of the Corporation to which this declaration relates, represented by certifcate (or DRS) number _______________,
is being made in reliance on Rule 904 of Regulation S under the United States Securities Act of 1933, as amended (the “U.S.
Securities Act”), and (B) certifies that (1) the undersigned (a) is not an “affiliate” of the Corporation, as that
term is defined in Rule 405 under the U.S. Securities Act, or is an affiliate solely by virtue of being an officer or director of the
Corporation, (b) is not a “distributor” as defined in Regulation S, and (c) is not an affiliate of a distributor; (2)
the offer of such securities was not made to a person in the United States and either (a) at the time the buy order was originated, the
buyer was outside the United States, or the seller and any person acting on its behalf reasonably believed that the buyer was outside
the United States, or (b) the transaction was executed on or through the facilities of the Toronto Stock Exchange, the TSX Venture Exchange
or any other “designated offshore securities market”, and neither the seller nor any person acting on its behalf knows that
the transaction has been prearranged with a buyer in the United States; (3) neither the seller nor any affiliate of the seller nor any
person acting on their behalf has engaged or will engage in any directed selling efforts in the United States in connection with the
offer and sale of such securities; (4) the sale is bona fide and not for the purpose of “washing off” the resale restrictions
imposed because the securities are “restricted securities” (as that term is defined in Rule 144(a)(3) under the U. S. Securities
Act); (5) the seller does not intend to replace such securities with fungible unrestricted securities; and (6) the contemplated sale
is not a transaction, or part of a series of transactions, which, although in technical compliance with Regulation S, is part of a plan
or scheme to evade the registration provisions of the U. S. Securities Act. Terms used herein have the meanings given to them by Regulation S
under the U.S. Securities Act.

 

Dated __________________, 20______.

 

	 	X	 

	 	Signature of individual (if Seller is an individual)

 

	 	X	 

	 	Authorized signatory (if Seller is not an individual)

 

	 	 
	 	Name of Seller (please print)
	 	 
	 	 
	 	Name of authorized signatory (please print)
	 	 
	 	 
	 	Official capacity of authorized signatory (please print)

 

    

    

    

 

Affirmation by Seller’s Broker-Dealer

(Required for sales pursuant to Section (B)(2)(b) in Appendix “A” to Certificate above)

 

We have read the representation letter of ____________
(the “Seller”) dated _______________, pursuant to which the Seller has requested that we sell, for the Seller's account,
____________________ common shares of the Corporation represented by certifcate (or DRS) number _________________ (the “Shares”).
We have executed sales of the Shares pursuant to Rule 904 of Regulation S under the United States Securities Act of 1933, as amended
(the “U.S. Securities Act”), on behalf of the Seller. In that connection, we hereby represent to you as follows:

 

		(1)	no offer to sell the Shares was made to a
                                            person in the United States;

 

		(2)	the sale of the Shares was executed in, on
                                            or through the facilities of the Toronto Stock Exchange, the TSX Venture Exchange or another
                                            “designated offshore securities market” (as defined in Regulation S under the
                                            U.S. Securities Act), and, to the best of our knowledge, the sale was not pre-arranged with
                                            a buyer in the United States;

 

		(3)	no “directed selling efforts”
                                            were made in the United States by the undersigned, any affiliate of the undersigned, or any
                                            person acting on behalf of the undersigned; and

 

		(4)	we have done no more than execute the order
                                            or orders to sell the Shares as agent for the Seller and will receive no more than the usual
                                            and customary broker’s commission that would be received by a person executing such
                                            transaction as agent.

 

For purposes of these representations: “affiliate”
means a person that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control
with, the undersigned; “directed selling efforts” means any activity undertaken for the purpose of, or that could
reasonably be expected to have the effect of, conditioning the market in the United States for the Shares (including, but not be limited
to, the solicitation of offers to purchase the Shares from persons in the United States); and “United States” means
the United States of America, its territories or possessions, any State of the United States, and the District of Columbia.

 

Legal counsel to the Corporation shall be entitled
to rely upon the representations, warranties and covenants contained in this letter to the same extent as if this letter had been addressed
to them.

 

Dated ___________________.

 

	 	 
	Name of Firm	 

 

	By:	 	 
	 	 	 
	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00345-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00345-of-00352.parquet"}]]