Document:

Filed by sedaredgar.com - Panglobal Brands Inc. - Exhibit 10.1

NON-UNITED STATES RESIDENT SUBSCRIBERS

THIS PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT RELATES TO AN
OFFERING OF SECURITIES IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S.
PERSONS (AS DEFINED HEREIN) PURSUANT TO REGULATION S UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).

THE SECURITIES TO WHICH THIS PRIVATE PLACEMENT SUBSCRIPTION
AGREEMENT (THE “SUBSCRIPTION AGREEMENT”) RELATES HAVE NOT BEEN REGISTERED WITH
THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY
STATE, AND WILL BE ISSUED IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), AND, ACCORDINGLY, MAY
NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE 1933 ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A
TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN
ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

PANGLOBAL BRANDS INC.

PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT UNITS

INSTRUCTIONS TO PURCHASER

	1. 	
      The purchaser is to complete all the information in the
      boxes on page 1 and sign where indicated with an ”X”.

	 	 
	2. 	
      IF THE PURCHASER IS A CANADIAN RESIDENT AND IS AN
      ACCREDITED INVESTOR, then complete the “Accredited Investor
      Questionnaire” that starts on page 5.

	 	 
	3. 	
      IF THE PURCHASER IS A CANADIAN RESIDENT AND IS NOT AN
      ACCREDITED INVESTOR, and not purchasing a minimum of $150,000 in value of
      securities, complete the “Friends and Family” Questionnaire that
      starts on page 8.

	 	 
	4. 	
      RESIDENTS OF COUNTRIES OUTSIDE THE UNITED STATES AND
      CANADA AND CANADIAN RESIDENTS PURCHASING A MINIMUM OF $150,000 IN VALUE OF
      SECURITIES may subscribe without filling in an Accredited Investor or
      Friends and Family Questionnaire.

	 	 
	5. 	
      Check or Cashier’s check should be made payable to
      Panglobal Brands Inc. For Wire instructions contact Charles Lesser, CFO of
      Panglobal CharlesL@panglobalbrand.com Tel (323) 266-6500 (Ext
    205).

	 	 
	6. 	
      All other information must be filled in where
      appropriate.

This is Page 2 of 16 pages of a subscription agreement and
related appendices, schedules and forms. Collectively, these pages together are
referred to as the “Subscription Agreement”.

PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT

TO: PANGLOBAL BRANDS INC. (the “Issuer”), of 2853 E.
Pico Blvd., Los Angeles, CA 90023

Subject and pursuant to the terms set out in the Terms on pages
3 to 4, the General Provisions on pages 9 to 16 and the other schedules and
appendices attached which are hereby incorporated by reference, the Purchaser
hereby irrevocably subscribes for, and on Closing will purchase from the Issuer,
the following securities at the following price:

	___________________________Units 
	US$0.10 per
      Unit for a total purchase price of US$ 	 
	The Purchaser owns, directly or indirectly, the
      following securities of the Issuer: 
	 
	[Check if applicable] The Purchaser is an
      [   ] insider of the Issuer or [   ] a member of the
      professional group 

The Purchaser directs the Issuer to issue, register and deliver
the certificates representing the Units as follows:

	REGISTRATION INSTRUCTIONS 	 	DELIVERY INSTRUCTIONS 
	 	 	 
	Name to appear on
      certificate 	 	Name
      and account reference, if applicable 
	 	 	 
	Account reference if
      applicable 	 	Contact
      name 
	 	 	 
	Address 	 	Address
    
	 	 	 
	  	 	Telephone Number 

EXECUTED by the Purchaser this _______day of _____________,
2009. By executing this Subscription Agreement, the Purchaser certifies that the
Purchaser and any beneficial purchaser for whom the Purchaser is acting is
resident in the jurisdiction shown as the “Address of Purchaser”. 

	WITNESS: 	 	EXECUTION BY PURCHASER: 
	 	 	X 
	Signature of Witness
    	 	Signature of individual (if Purchaser is an individual)
    
	 	 	X 
	Name of Witness 	 	Authorized signatory (if Purchaser is not an
      individual) 
	 	 	  
	Address of Witness
    	 	Name of
      Purchaser (please print) 
	 	 	  
	 	 	Name of
      authorized signatory (please print) 
	Accepted this _____
      day of _____, 2009 	 	  
	PANGLOBAL BRANDS
      INC. 	 	Address
      of Purchaser (residence) 
	Per: 	 	  
	 	 	Telephone Number 
	Authorized Signatory
    	 	  
	 	 	E-mail
      address 
	 	 	  
	 	 	Social Security/Insurance No.: 

By signing this acceptance, the Issuer agrees to be bound by
the Terms on pages 3 to 4, the General Provisions on pages 9 to 16 and the other
schedules and appendices incorporated by reference. If funds are delivered to
the Issuer’s lawyers, they are authorized to release the funds to the Issuer.

	Subscription Agreement (with related appendices,
      schedules and forms) 	Page 3 of 16 

	TERMS
	  	 	 
	Reference date of this Subscription 	 	 
	Agreement 	 	January 23, 2009 (the “Agreement
      Date”) 
	  	 	 
	The Offering
	  	 	 
	  	 	 
	The Issuer 	 	Panglobal Brands Inc. (the
      “Issuer”). 
	  	 	 
	Offering 	 	The offering consists of up to
      25,000,000 Units (“Units”) of the Issuer. Each Unit consists of one
      share of Common Stock and one half (1/2) Warrant. 
	  	 	 
	Common Stock 	 	The voting shares of Common Stock of
      the Issuer (“Shares”) . 
	  	 	 
	Warrants 	 	Each whole Warrant may be exercised
      for twelve months following the Closing Date for one share of Common Stock
      (a “Warrant Share”) at an exercise price of $0.25. The Warrants are
      non-transferrable. 
	  	 	 
	Total Amount 	 	Up to US $2,500,000 from the sale of
      Units. 
	  	 	 
	Issue Price 	 	US$0.10 per Unit. 
	  	 	 
	Selling Jurisdictions 	 	The Units may be sold in Canada or in
      other jurisdictions other than the United States where they may be
      lawfully sold (the ”Selling Jurisdictions”). 
	  	 	 
	Exemptions for Canadian Purchasers 	 	The offering will be made in
      accordance with the following exemptions from the prospectus requirements:    
	  	 	 
			(a) 	the “accredited investor” exemption in
      Canada (section 2.3 of National Instrument 45-106, as adopted by the
      securities commissions in Canada (“NI 45-106”); 
	  	 	  	  
	  	 	(b) 	the “$150,000 purchaser” exemption in
      Canada (section 2.10 of NI 45-106); and 
	  	 	 	 
			(c) 	the “Friends and Family” exemption in
      Canada except Ontario (section 2.5 of NI 45-106). 
	  	 	  	  
	Exemptions for Offshore Purchasers 	 	Such other exemptions as may be
      available the securities laws of the Selling Jurisdictions. 
	  	 	  	  
	No Registration of Securities 	 	The Shares and Warrants will not be
      registered with the United States Securities and Exchange Commission and
      will be tradable in compliance with Rule 144 restricted periods.  

	Subscription Agreement (with related appendices,
      schedules and forms) 	Page 4 of 16 

	Resale restrictions and legends 	 	The Purchaser acknowledges that the
      certificates representing the Shares will bear the following legends:  
	  	 	  
			“THESE SECURITIES HAVE NOT BEEN REGISTERED WITH
      THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY
      STATE AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION
      UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND,
      ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE
      REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
      AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
      REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
      APPLICABLE STATE SECURITIES LAWS.” 
	 	 	 
			Purchasers are advised to consult with their
      own legal counsel or advisors to determine the resale restrictions that
      may be applicable to them. 
	  	 	  
			Purchaser has requested the Issuer not to
      include legend under Canadian securities laws 
	  	 	  
	Closing Date 	 	The completion of the sale and purchase of the
      Units will take place in one or more closings, on a date or dates as
      agreed to by the Issuer and the Purchaser. Payment for, and delivery of
      the Units, is scheduled to occur on or about January 23, 2009 or such
      later date as may be agreed upon by the Issuer and the Purchaser (the
      “Closing Date”). 
	  	 	  
	 The Issuer 
	  	 	  
	Jurisdiction of organization 	 	The Issuer is incorporated under the laws of
      the State of Delaware. 
	  	 	  
	Stock exchange listings 	 	Certain market makers make market in the
      Issuer’s stock on the National Association of Securities Dealers Inc.’s
      OTC Bulletin Board. 
	  	 	  
	Commissions with Jurisdiction Over
      the Issuer 	 	The “Commissions with Jurisdiction Over the
      Issuer” is the United States Securities and Exchange Commission.
	  	 	  
	Securities Legislation Applicable to
      the Issuer 	 	The “Securities Legislation Applicable to
      the Issuer” is the US Securities Exchange Act of 1934.

End of Terms

	Subscription Agreement (with related appendices,
      schedules and forms) 	Page 5 of 16 

NATIONAL INSTRUMENT 45-106

ACCREDITED INVESTOR QUESTIONNAIRE – CANADIAN
PURCHASERS

The purpose of this Questionnaire is to assure Panglobal
Brands Inc.” (the “Company”) that the undersigned (the “Subscriber”) will
meet certain requirements for the registration and prospectus exemptions
provided for under National Instrument 45-106 (“NI 45-106”), as adopted by the
Securities Commissions in Canada, in respect of a proposed private placement of
securities by the Company (the “Transaction”). The Company will rely on the
information contained in this Questionnaire for the purposes of such
determination.

The undersigned Subscriber covenants, represents and warrants
to the Company that:

	1. 	
      the Subscriber has such knowledge and experience in
      financial and business matters as to be capable of evaluating the merits
      and risks of the Transaction and the Subscriber is able to bear the
      economic risk of loss arising from such Transaction;

	 	 	 
	2. 	
      the Subscriber satisfies one or more of the categories of
      “accredited investor” (as that term is defined in NI 45-106) indicated
      below (please check the appropriate box):

	 	 	 
		
      [   ]
	
      (a) a Canadian financial institution as defined in
      National Instrument 14-101, or an authorized foreign bank listed in
      Schedule III of the Bank Act (Canada);

	 	 	 
		
      [   ]
	
      (b) the Business Development Bank of Canada incorporated
      under the Business Development Bank Act (Canada);

	 	 	 
		
      [   ]
	
      (c) a subsidiary of any person referred to in any of the
      foregoing categories, 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;

	 	 	 
		
      [   ]
	
      (d) an individual registered or formerly registered under
      securities legislation in a jurisdiction of Canada, as a representative of
      a person or company registered under securities legislation in a
      jurisdiction of Canada, as an adviser or dealer, other than a limited
      market dealer registered under the Securities Act (Ontario) or the
      Securities Act (Newfoundland);

	 	 	 
		
      [   ]
	
      (e) an individual registered or formerly registered under
      the securities legislation of a jurisdiction of Canada as a representative
      of a person referred to in paragraph (d);

	 	 	 
		
      [   ]
	
      (f) the government of Canada or a province, or any crown
      corporation or agency of the government of Canada or a province;

	 	 	 
		
      [   ]
	
      (g) a municipality, public board or commission in Canada
      and a metropolitan community, school board, the Comite de gestion de la
      taxe scholaire de l’ile de Montreal or an intermunicipal management board
      in Québec;

	 	 	 
		
      [   ]
	
      (h) a national, federal, state, provincial, territorial
      or municipal government of or in any foreign jurisdiction, or any agency
      thereof;

	 	 	 
		
      [   ]
	
      (i) 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 jurisdiction of
    Canada;

	Subscription Agreement (with related appendices,
      schedules and forms) 	Page 6 of 16 

	 	
    [  ]
	(j) an individual who either
      alone or with a spouse beneficially owns, directly or indirectly,
      financial assets (as defined in NI 45-106) having an aggregate realizable
      value that, before taxes but net of any related liabilities, exceeds
      CDNUS$1,000,000; 
	 	  	  
	 	
    [  ]
	(k) an individual whose net
      income before taxes exceeded CDNUS$200,000 in each of the two more recent
      calendar years or whose net income before taxes combined with that of a
      spouse exceeded US$300,000 in each of those years and who, in either case,
      reasonably expects to exceed that net income level in the current calendar
      year; 
	 	  	  
	 	
    [  ]
	(l) an individual who, either
  alone or with a spouse, has net assets of at least CDN US$5,000,000;
	 	  	  
	 	
    [  ]
	(m) a person, other than an
      individual or investment fund, that had net assets of at least
      CDNUS$5,000,000 as reflected on its most recently prepared financial
      statements; 
	 	  	  
	 	
    [  ]
	(n) an investment fund that
      distributes it securities only to persons that are accredited investors at
      the time of distribution, a person that acquires or acquired a minimum of
      CDN$150,000 of value in securities, or a person that acquires or acquired
      securities under Sections 2.18 or 2.19 of NI 45-106; 
	 	  	  
	 	
    [  ]
	(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 company 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 company 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 (i) 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, and (ii) in Ontario, is purchasing a security that
      is not a security of an investment fund; 
	 	  	  
	 	
    [  ]
	(r) a registered charity under
      the Income Tax Act (Canada) that, in regard to the trade, has
      obtained advice from an eligibility advisor or an advisor 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) or paragraph (i) 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 are persons or companies that are
      accredited investors. 
	 	  	  
	 	
    [  ]
	(u) an investment funds that is
      advised by a person registered as an advisor or a person that is exempt
      from registration as an advisor; or 
	 	  	  
	 	
    [  ]
	(v) a person that is recognized
      or designated by the securities regulatory authority or, except in Ontario
      and Québec, the regulator as (i) an accredited investor, or (ii) an exempt
      purchaser in Alberta or British Columbia after this instrument comes into
      force; 

	Subscription Agreement (with related appendices,
      schedules and forms) 	Page 7 of 16 

The Subscriber acknowledges and agrees that the Subscriber may
be required by the Company to provide such additional documentation as may be
reasonably required by the Company and its legal counsel in determining the
Subscriber’s eligibility to acquire the Units under relevant Legislation.

     IN WITNESS WHEREOF, the
undersigned has executed this Questionnaire as of the _______day
of_______________, 2009.

	If a Corporation, Partnership or Other Entity: 	 	If an Individual: 
	 	 	 
	  	 	X 
	Print or Type Name of Entity 	 	Signature 
	 	 	 
	  	 	  
	X 	 	 
    
	Signature of Authorized Signatory 	 	Print or Type Name 
	 	 	 
	  	 	  
	Type of Entity 	 	  

	Subscription Agreement (with related appendices,
      schedules and forms) 	Page 8 of 16 

Family, Friends and Business Associates Questionnaire –
Canadian Purchasers

	IF THE PURCHASER IS RESIDENT IN A CANADIAN
      PROVINCE OR TERRITORY OTHER THAN ONTARIO IS NOT PURCHASING MORE THAN
      $150,000 IN VALUE OF SECURITIES AND IS NOT AN ACCREDITED INVESTOR, HE OR
      SHE IS TO CHECK ONE OR MORE OF THE FOLLOWING BOXES, AS APPROPRIATE: 	 
	  	  	 
	(A) 	a director, officer, employee
      or control person of the Issuer 	____
	  	  	 
	(B) 	a spouse, parent, grandparent,
      brother, sister or child of a director, senior officer or control
      person of the Issuer 	____ 
	  	  	 
	(C) 	a close personal friend of a
      director, senior officer or control person of the Issuer 	____ 
	  	  	 
	(D) 	a close business associate of
      a director, senior officer or control person of the Issuer 	____ 

	if the Purchaser is resident in Ontario, the
      Purchaser is (tick one or more of the following boxes only if
      the Purchaser is resident in Ontario): 	 
	 	 
	(A) 	a founder of the Issuer 	[  
  ]
	(B) 	an affiliate of a founder of the
      Issuer 	[  
  ]
	(C) 	a spouse, parent, brother,
      sister, grandparent or child of a director, executive officer or founder
      of the Issuer 	[   ]
  
	(D) 	a person that is a control person
      of the Issuer 	[   ]
  
	(E) 	an accredited investor 	[  
  ]
	(F) 	purchasing as principal
      Securities with an aggregate acquisition cost of not less than CDN$150,000
    	[   ]
  

If the Purchaser ticked boxes A-D above, name of director,
officer or employee of the Issuer with whom the Purchaser has a
relationship:

		 
	Signature 	 
	 	 
	 	 
	Print or Type Name of Entity or Individual 	 
	
       

      Date: _____________________, 2009 
	 

	Subscription Agreement (with related appendices,
      schedules and forms) 	Page 9 of 16 

GENERAL PROVISIONS

1.          
DEFINITIONS

1.1          In
the Subscription Agreement (including the first (cover) page, the Terms on pages
3 to 4, the General Provisions on pages 9 to 16 and the other schedules and
appendices incorporated by reference), the following words have the following
meanings unless otherwise indicated:

	 	(a) 	
      “1933 Act” means the United States Securities Act
      of 1933, as amended;

	 	 	 
	 	(b) 	
      “Applicable Legislation” means the Securities
      Legislation Applicable to the Issuer (as defined on page 8) and all
      legislation incorporated in the definition of this term in other parts of
      the Subscription Agreement, together with the regulations and rules made
      and promulgated under that legislation and all administrative policy
      statements, blanket orders and rulings, notices and other administrative
      directions issued by the Commissions;

	 	 	 
	 	(c) 	
      “Closing” means the completion of the sale and
      purchase of the Purchased Securities;

	 	 	 
	 	(d) 	
      “Closing Date” has the meaning assigned in the
      Terms;

	 	 	 
	 	(e) 	
      “Commissions” means the Commissions with
      Jurisdiction over the Issuer (as defined on page 4) and the securities
      commissions incorporated in the definition of this term in other parts of
      the Subscription Agreement;

	 	 	 
	 	(f) 	
      “General Provisions” means those portions of the
      Subscription Agreement headed “General Provisions” and contained on
      pages 9 to 16;

	 	 	 
	 	(g) 	
      “Private Placement” means the offering of the
      Units on the terms and conditions of this Subscription
Agreement;

	 	 	 
	 	(h) 	
      “Securities” means the shares of Common Stock, the
      Warrants and the Warrant Shares, as defined in the Terms;

	 	 	 
	 	(i) 	
      “Subscription Agreement” means the first (cover)
      page, the Terms on pages 3 to 4, the General Provisions on pages 9 to 16
      and the other schedules and appendices incorporated by reference;
    and

	 	 	 
	 	(j) 	
      “Terms” means those portions of the Subscription
      Agreement headed “Terms” and contained on pages 3 to
4.

1.2          In
the Subscription Agreement, the following terms have the meanings defined in
Regulation S of the 1933 Act (“Regulation S”): “Directed Selling
Efforts”, “Foreign Issuer”, “Substantial U.S. Market
Interest”, “U.S. Person” and “United States”.

1.3          In
the Subscription Agreement, unless otherwise specified, currencies are indicated
in US dollars.

1.4          In
the Subscription Agreement, other words and phrases that are capitalized have
the meanings assigned to them in the body hereof.

	Subscription Agreement (with related appendices,
      schedules and forms) 	Page 10 of 16 

	2. 	
      ACKNOWLEDGEMENTS, REPRESENTATIONS AND WARRANTIES OF
      PURCHASER

	 	 
	2.1 	
      Acknowledgements concerning
  Offering

The Purchaser acknowledges that:

	 	(a) 	
      none of the Securities have been registered under the
      1933 Act, or under any state securities or “blue sky” laws of any state of
      the United States, and, unless so registered, may not be offered or sold
      in the United States or, directly or indirectly, to U.S. Persons, except
      in accordance with the provisions of Regulation S, pursuant to an
      effective registration statement under the 1933 Act, or pursuant to an
      exemption from, or in a transaction not subject to, the registration
      requirements of the 1933 Act and in each case in accordance with
      applicable state and provincial securities laws;

	 	 	 
	 	(b) 	
      the Purchaser acknowledges that the Issuer has not
      undertaken, and will have no obligation, to register any of the Securities
      under the 1933 Act;

	 	 	 
	 	(c) 	
      the decision to execute this Subscription Agreement and
      purchase the Securities agreed to be purchased hereunder has not been
      based upon any oral or written representation as to fact or otherwise made
      by or on behalf of the Issuer and such decision is based entirely upon a
      review of information (the “Issuer Information”) which has been provided
      by the Issuer to the Purchaser. If the Issuer has presented a business
      plan or any other type of corporate profile to the Purchaser, the
      Purchaser acknowledges that the business plan, the corporate profile and
      any projections or predictions contained in any such documents may not be
      achieved or be achievable;

	 	 	 
	 	(d) 	
      the Purchaser and the Purchaser’s advisor(s) have had a
      reasonable opportunity to ask questions of and receive answers from the
      Issuer regarding the Offering, and to obtain additional information, to
      the extent possessed or obtainable without unreasonable effort or expense,
      necessary to verify the accuracy of the information contained in the
      Issuer Information, or any business plan, corporate profile or any other
      document provided to the Purchaser;

	 	 	 
	 	(e) 	
      neither the Commissions or similar regulatory authority
      has reviewed or passed on the merits of the Securities;

	 	 	 
	 	(f) 	
      there is no government or other insurance covering any of
      the Securities;

	 	 	 
	 	(g) 	
      there are risks associated with an investment in the
      Securities;

	 	 	 
	 	(h) 	
      the Purchaser has not acquired the Securities as a result
      of, and will not itself engage in, any “directed selling efforts” (as
      defined in Regulation S) in the United States in respect of the Securities
      which would include any activities 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 resale of any of the Securities;
      provided, however, that the Purchaser may sell or otherwise dispose of the
      Securities pursuant to registration thereof under the 1933 Act and any
      applicable state and provincial securities laws or under an exemption from
      such registration requirements;

	 	 	 
	 	(i) 	
      the Purchaser and the Purchaser’s advisor(s) have had a
      reasonable opportunity to ask questions of and receive answers from the
      Issuer in connection with the distribution of the Securities hereunder,
      and to obtain additional information, to the extent possessed or
      obtainable without unreasonable effort or expense, necessary to verify the
      accuracy of the information about the Issuer;

	Subscription Agreement (with related appendices,
      schedules and forms) 	Page 11 of 16 

	 	(j) 	
      the books and records of the Issuer were available upon
      reasonable notice for inspection, subject to certain confidentiality
      restrictions, by the Purchaser during reasonable business hours at its
      principal place of business, and all documents, records and books in
      connection with the distribution of the Securities hereunder have been
      made available for inspection by the Purchaser, the Purchaser’s lawyer
      and/or advisor(s);

	 	 	 	 
	 	(k) 	
      the Purchaser will indemnify and hold harmless the Issuer
      and, where applicable, its directors, officers, employees, agents,
      advisors and shareholders, from and against any and all loss, liability,
      claim, damage and expense whatsoever (including, but not limited to, any
      and all fees, costs and expenses whatsoever reasonably incurred in
      investigating, preparing or defending against any claim, lawsuit,
      administrative proceeding or investigation whether commenced or
      threatened) arising out of or based upon any representation or warranty of
      the Purchaser contained herein or in any document furnished by the
      Purchaser to the Issuer in connection herewith being untrue in any
      material respect or any breach or failure by the Purchaser to comply with
      any covenant or agreement made by the Purchaser to the Issuer in
      connection therewith;

	 	 	 	 
	 	(l) 	
      the Shares are not listed on any stock exchange or
      automated dealer quotation system and no representation has been made to
      the Purchaser that any of the Shares will become listed on any stock
      exchange or automated dealer quotation system, except that currently
      market makers make a market for the Issuer’s common shares on the National
      Association of Securities Dealers Inc.’s OTC Bulletin Board;

	 	 	 	 
	 	(m) 	
      the Issuer will refuse to register any transfer of the
      Securities not made in accordance with the provisions of Regulation S,
      pursuant to an effective registration statement under the 1933 Act or
      pursuant to an available exemption from the registration requirements of
      the 1933 Act and in accordance with Applicable Legislation;

	 	 	 	 
	 	(n) 	
      the Issuer has advised the Purchaser (if resident in
      Canada) that the Issuer is relying on an exemption from the requirements
      to provide the Purchaser with a prospectus to sell the Securities and, as
      a consequence of acquiring the Securities pursuant to such exemption
      certain protections, rights and remedies provided by applicable provincial
      securities legislation including statutory rights of rescission or
      damages, will not be available to the Purchaser;

	 	 	 	 
	 	(o) 	
      the statutory and regulatory basis for the exemption
      claimed for the offer of the Securities, although in technical compliance
      with Regulation S, would not be available if the offering is part of a
      plan or scheme to evade the registration provisions of the 1933 Act or any
      Applicable Legislation;

	 	 	 	 
	 	(p) 	
      the Purchaser is outside the United States when receiving
      and executing this Subscription Agreement and is acquiring the Securities
      as principal for its own account, for investment purposes only, and not
      with a view to, or for, resale, distribution or fractionalization thereof,
      in whole or in part, and no other person has a direct or indirect
      beneficial interest in such Securities;

	 	 	 	 
	 	(q) 	
      the Purchaser has been advised to consult the Purchaser’s
      own legal, tax and other advisors with respect to the merits and risks of
      an investment in the Securities and with respect to applicable resale
      restrictions, and it is solely responsible (and the Issuer is not in any
      way responsible) for compliance with:

	 	 	 	 
	 		(i) 	
      any applicable laws of the jurisdiction in which the
      Purchaser is resident in connection with the distribution of the
      Securities hereunder, and

	 	 	 	 
	 		(ii) 	
      applicable resale
restrictions;

	Subscription Agreement (with related appendices,
      schedules and forms) 	Page 12 of 16 

	 	(r) 	
      this Agreement is not enforceable by the Purchaser unless
      it has been accepted by the Issuer, and the Purchaser acknowledges and
      agrees that the Issuer reserves the right to reject any subscription for
      any reason;

	 	 	 
	 	(s) 	
      each Purchaser resident in Canada acknowledges that the
      Securities are subject to resale restrictions in British Columbia and may
      not be traded in British Columbia except as permitted by the Securities
      Act (British Columbia) and the rules made thereunder. In particular,
      pursuant to National Instrument 45-102, as adopted by the British Columbia
      Securities Commission, a subsequent trade in any of the Securities will be
      a distribution subject to the prospectus and registration requirements of
      applicable Canadian securities legislation, unless certain conditions are
      met, including the following:

	 	(i) 	at least four months (the "Canadian Hold
      Period") shall have elapsed from the date on which the Securities were
      issued to the Purchasers; 
	 	  	  
	 	(ii) 	during the currency of the Canadian Hold
      Period, any certificate representing the Securities is imprinted with a
      legend (the "Canadian Legend") stating: 
	 	  	  
	 		         "UNLESS
      PERMITTED UNDER SECURITIES
      LEGISLATION, 
         THE
      HOLDER OF THE SECURITIES SHALL NOT TRADE
      THE
         SECURITIES BEFORE
      [INSERT THE DATE THAT IS
      FOUR
         MONTHS AND A DAY
      AFTER THE DISTRIBUTION DATE." 
	 	  	  
	 	(iii) 	the trade is not a control distribution (as
      defined in National Instrument 45-102); 
	 	  	  
	 	(iv) 	no unusual effort is made to prepare the market
      or to create a demand for the Securities that are the subject of the
      trade; 
	 	  	  
	 	(v) 	no extraordinary commission or consideration is
      paid to a person or company in respect of the trade; and 
	 		 
	 	(iv) 	if the selling security holder is an insider or
      officer of the Issuer, the selling security holder has no reasonable
      grounds to believe that the Issuer is in default of securities
      legislation. 

	 	(t) 	
      by executing and delivering this Subscription Agreement,
      each Purchaser will have directed the Issuer not to include a Canadian
      legend on any certificates representing the Securities to be issued to
      such Purchaser. As a consequence, the Purchaser will not be able to rely
      on the resale provisions of National Instrument 45-102, as adopted by the
      securities commissions in Canada, and any subsequent trade in the
      Securities during or after the Canadian hold period described therein will
      be a distribution subject to the prospectus and registration requirements
      of Canadian securities legislation, to the extent that the trade is at
      that time subject to any such Canadian securities
  legislation.

2.2         
Representations by the Purchaser

The Purchaser represents and warrants to the Issuer that, as at
the Agreement Date and at the Closing:

	 	(a) 	
      the Purchaser has the legal capacity and competence to
      enter into and execute this Subscription Agreement and to take all actions
      required pursuant hereto and, if the Purchaser is a corporation, it is
      duly incorporated and validly subsisting under the laws of its
      jurisdiction of incorporation and all necessary approvals by its
      directors, shareholders and others have been obtained to authorize
      execution and performance of this Subscription Agreement on behalf of the
      Purchaser;

	Subscription Agreement (with related appendices,
      schedules and forms) 	Page 13 of 16 

	 	(b) 	
      the entering into of this Subscription Agreement and the
      transactions contemplated hereby do not result in the violation of any of
      the terms and provisions of any law applicable to the Purchaser or of any
      agreement, written or oral, to which the Purchaser may be a party or by
      which the Purchaser is or may be bound;

	 	 	 	 	 
	 	(c) 	
      the Purchaser has duly executed and delivered this
      Subscription Agreement and it constitutes a valid and binding agreement of
      the Purchaser enforceable against the Purchaser in accordance with its
      terms;

	 	 	 	 	 
	 	(d) 	
      the Purchaser is not acquiring the Securities for the
      account or benefit of, directly or indirectly, any U.S. Person;

	 	 	 	 	 
	 	(e) 	
      the Purchaser is not a U.S. Person;

	 	 	 	 	 
	 	(f) 	
      the Purchaser is resident in the jurisdiction set out
      under the heading “Name and Address of Purchaser” on the signature page of
      this Subscription Agreement;

	 	 	 	 	 
	 	(g) 	
      the Purchaser:

	 	 	 	 	 
	 		i. 	
      is knowledgeable of, or has been independently advised as
      to, the applicable securities laws of the securities regulators having
      application in the jurisdiction in which the Purchaser is resident (the
      “International Jurisdiction”) which would apply to the acquisition of the
      Securities;

	 	 	 	 	 
	 		ii. 	
      the Purchaser is purchasing the Securities pursuant to
      exemptions from prospectus or equivalent requirements under applicable
      securities laws or, if such is not applicable, the Purchaser is permitted
      to purchase the Purchaser under the applicable securities laws of the
      securities regulators in the International Jurisdiction without the need
      to rely on any exemptions;

	 	 	 	 	 
	 		iii. 	
      the applicable securities laws of the authorities in the
      International Jurisdiction do not require the Issuer to make any filings
      or seek any approvals of any kind whatsoever from any securities regulator
      of any kind whatsoever in the International Jurisdiction in connection
      with the issue and sale or resale of the Securities;

	 	 	 	 	 
	 		iv. 	
      the purchase of the Securities by the Purchaser does not
      trigger:

	 	 	 	 	 
	 			A. 	
      any obligation to prepare and file a prospectus or
      similar document, or any other report with respect to such purchase in the
      International Jurisdiction; or

	 	 	 	 	 
	 			B. 	
      any continuous disclosure reporting obligation of the
      Issuer in the International Jurisdiction; and

	 	 	 	 	 
	 			
      the Purchaser will, if requested by the Issuer, deliver
        to the Issuer a certificate or opinion of local counsel from the
        International Jurisdiction which will confirm the matters referred to in
        subparagraphs (ii), (iii) and (iv) above to the satisfaction of the
    Issuer, acting reasonably;

	 	 	 	 	 
	 	(h) 	
      the Purchaser is acquiring the Securities for investment
      only and not with a view to resale or distribution and, in particular, it
      has no intention to distribute either directly or indirectly any of the
      Securities in the United States or to U.S.
Persons;

	Subscription Agreement (with related appendices,
      schedules and forms) 	Page 14 of 16 

	 	(i) 	
      the Purchaser is outside the United States when receiving
      and executing this Subscription Agreement and is acquiring the Securities
      as principal for the Purchaser’s own account, for investment purposes
      only, and not with a view to, or for, resale, distribution or
      fractionalisation thereof, in whole or in part, and no other person has a
      direct or indirect beneficial interest in such Securities;

	 	 	 
	 	(j) 	
      the Purchaser is not an underwriter of, or dealer in, the
      common shares of the Issuer, nor is the Purchaser participating, pursuant
      to a contractual agreement or otherwise, in the distribution of the
      Securities;

	 	 	 
	 	(k) 	
      the Purchaser (i) is able to fend for him/her/itself in
      the subscription; (ii) has such knowledge and experience in business
      matters as to be capable of evaluating the merits and risks of its
      prospective investment in the Securities; and (iii) has the ability to
      bear the economic risks of its prospective investment and can afford the
      complete loss of such investment;

	 	 	 
	 	(l) 	
      the Purchaser acknowledges that the Purchaser has not
      acquired the Securities as a result of, and will not itself engage in, any
      “directed selling efforts” (as defined in Regulation S) in the United
      States in respect of the Securities which would include any activities
      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
      resale of the Securities; provided, however, that the Purchaser may sell
      or otherwise dispose of the Securities pursuant to registration of the
      Securities pursuant to the 1933 Act and any Applicable Laws or under an
      exemption from such registration requirements and as otherwise provided
      herein;

	 	 	 
	 	(m) 	
      the Purchaser understands and agrees that none of the
      Securities have been registered under the 1933 Act, or under any state
      securities or “blue sky” laws of any state of the United States, and,
      unless so registered, may not be offered or sold in the United States or,
      directly or indirectly, to U.S. Persons except in accordance with the
      provisions of Regulation S, pursuant to an effective registration
      statement under the 1933 Act, or pursuant to an exemption from, or in a
      transaction not subject to, the registration requirements of the 1933
      Act;

	 	 	 
	 	(n) 	
      the Purchaser understands and agrees that offers and
      sales of any of the Securities prior to the expiration of a period of one
      year after the date of original issuance of the Securities (the one year
      period hereinafter referred to as the “Distribution Compliance Period”)
      shall only be made in compliance with the safe harbor provisions set forth
      in Regulation S, pursuant to the registration provisions of the 1933 Act
      or an exemption therefrom, and that all offers and sales after the
      Distribution Compliance Period shall be made only in compliance with the
      registration provisions of the 1933 Act or an exemption therefrom and in
      each case only in accordance with applicable state and provincial
      securities laws;

	 	 	 
	 	(o) 	
      the Purchaser understands and agrees not to engage in any
      hedging transactions involving any of the Securities unless such
      transactions are in compliance with the provisions of the 1933 Act and in
      each case only in accordance with applicable state and provincial
      securities laws;

	 	 	 
	 	(p) 	
      the Purchaser understands and agrees that the Issuer will
      refuse to register any transfer of the Securities not made in accordance
      with the provisions of Regulation S, pursuant to an effective registration
      statement under the 1933 Act or pursuant to an available exemption from
      the registration requirements of the 1933 Act;

	 	 	 
	 	(q) 	
      the Purchaser is not aware of any advertisement of any of
      the Securities and is not acquiring the Securities as a result of any form
      of general solicitation or general advertising including advertisements,
      articles, notices or other communications published in any newspaper,
      magazine or similar media or broadcast over radio or television, or any
      seminar or meeting whose attendees have been invited by general
      solicitation or general advertising; and

	Subscription Agreement (with related appendices,
      schedules and forms) 	Page 15 of 16 

	 	(r) 	
      no person has made to the Purchaser any written or oral
      representations:

	 	 	 	 
	 		(i) 	
      that any person will resell or repurchase any of the
      Securities;

	 	 	 	 
	 		(ii) 	
      that any person will refund the purchase price of any of
      the Securities;

	 	 	 	 
	 		(iii) 	
      as to the future price or value of any of the Securities;
      or

	 	 	 	 
	 		(iv) 	
      that any of the Securities will be listed and posted for
      trading on any stock exchange or automated dealer quotation system or that
      application has been made to list and post any of the Securities of the
      Issuer on any stock exchange or automated dealer quotation
  system.

2.3         
Reliance, indemnity and notification of changes

The representations and warranties in the Subscription
Agreement (including the first (cover) page, the Terms on pages 3 to 4, the
General Provisions on pages 9 to 16 and the other schedules and appendices
incorporated by reference) are made by the Purchaser with the intent that they
be relied upon by the Issuer in determining its suitability as a purchaser of
Securities, and the Purchaser hereby agrees to indemnify the Issuer against all
losses, claims, costs, expenses and damages or liabilities which any of them may
suffer or incur as a result of reliance thereon. The Purchaser undertakes to
notify the Issuer immediately of any change in any representation, warranty or
other information relating to the Purchaser set forth in the Subscription
Agreement (including the first (cover) page, the Terms on pages 3 to 4, the
General Provisions on pages 9 to 16 and the other schedules and appendices
incorporated by reference) which takes place prior to the Closing.

2.4         
Survival of representations and warranties

The representations and warranties contained in this Section
will survive the Closing.

3.          
ISSUER’S ACCEPTANCE

The Subscription Agreement, when executed by the Purchaser, and
delivered to the Issuer, will constitute a subscription for Securities which
will not be binding on the Issuer until accepted by the Issuer by executing the
Subscription Agreement in the space provided on the face page(s) of the
Subscription Agreement and, notwithstanding the Agreement Date, if the Issuer
accepts the subscription by the Purchaser, the Subscription Agreement will be
entered into on the date of such execution by the Issuer.

4.          
CLOSING

4.1         On or
before the end of the business day before the Closing Date, the Purchaser will
deliver to the Issuer the Subscription Agreement and all applicable schedules
and required forms, duly executed, and payment in full for the total price of
the Securities to be purchased by the Purchaser.

4.2         At
Closing, the Issuer will deliver to the Purchaser the certificates representing
the Securities purchased by the Purchaser registered in the name of the
Purchaser or its nominee, or as directed by the Purchaser.

5.          
MISCELLANEOUS

5.1         The
Purchaser agrees to sell, assign or transfer the Securities only in accordance
with the requirements of applicable securities laws and any legends placed on
the Securities as contemplated by the Subscription Agreement.

5.2         The
Purchaser hereby authorizes the Issuer to correct any minor errors in, or
complete any minor information missing from any part of the Subscription
Agreement and any other schedules, forms, certificates or documents executed by
the Purchaser and delivered to the Issuer in connection with the Private
Placement.

	Subscription Agreement (with related appendices,
      schedules and forms) 	Page 16 of 16 

5.3          
The Issuer may rely on delivery by fax machine of an executed copy of this
Subscription Agreement, and acceptance by the Issuer of such faxed copy will be
equally effective to create a valid and binding agreement between the Purchaser
and the Issuer in accordance with the terms of the Subscription Agreement.

5.4          
Without limitation, this subscription and the transactions contemplated by this
Subscription Agreement are conditional upon and subject to the Issuer’s having
obtained such regulatory approval of this subscription and the transactions
contemplated by this Subscription Agreement as the Issuer considers
necessary.

5.5          
This Subscription Agreement is not assignable or transferable by the parties
hereto without the express written consent of the other party to this
Subscription Agreement.

5.6          
Time is of the essence of this Subscription Agreement and will be calculated in
accordance with the provisions of the Interpretation Act (British
Columbia).

5.7          
Except as expressly provided in this Subscription Agreement and in the
agreements, instruments and other documents contemplated or provided for in this
Subscription Agreement, this Subscription Agreement contains the entire
agreement between the parties with respect to the Securities and there are no
other terms, conditions, representations or warranties whether expressed,
implied, oral or written, by statute, by common law, by the Issuer, or by anyone
else.

5.8          
The parties to this Subscription Agreement may amend this Subscription Agreement
only in writing.

5.9          
This Subscription Agreement enures to the benefit of and is binding upon the
parties to this Subscription Agreement and their successors and permitted
assigns.

5.10           A
party to this Subscription Agreement will give all notices to or other written
communications with the other party to this Subscription Agreement concerning
this Subscription Agreement by hand or by registered mail addressed to the
address given on page 1.

5.11          
This Subscription Agreement is to be read with all changes in gender or number
as required by the context.

5.12          
This Subscription Agreement will be governed by and construed in accordance with
the internal laws of British Columbia (without reference to its rules governing
the choice or conflict of laws), and the parties hereto irrevocably attorn and
submit to the exclusive jurisdiction of the courts of British Columbia with
respect to any dispute related to this Subscription Agreement.

End of General Provisions

End of Subscription AgreementFiled by sedaredgar.com - Panglobal Brands Inc. - Exhibit 10.2

WARRANT CERTIFICATE

THESE SECURITIES AND THE SECURITIES INTO WHICH THESE SECURITIES
ARE EXERCISABLE, WERE OR WILL BE SOLD IN AN OFFERING OF SECURITIES IN AN
OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED HEREIN)
PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE "1933 ACT").

THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES
AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE AND HAVE BEEN
ISSUED IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED
OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION
NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS

Warrant No. __________

THESE WARRANTS WILL EXPIRE AND BECOME NULL AND VOID
AT 5:00
PM (Pacific Time) on March 27, 2010 (the "Expiry Date").

SHARE PURCHASE WARRANTS TO PURCHASE COMMON SHARES
OF
PANGLOBAL BRANDS INC.

     THIS IS TO CERTIFY THAT
_________________, (the "Holder") of ___________________, has the right to
purchase, upon and subject to the terms and conditions hereinafter referred to,
up to __________fully paid and non-assessable common shares (the "Shares") in
the capital of Panglobal Brands Inc. (hereinafter called the "Company") on or
before 5:00 p.m. (Pacific Time) on March 27, 2010 at a price per Share of US
$0.25 on the terms and conditions attached hereto as Appendix A (the "Terms and
Conditions").

	1. 	
      ONE WARRANT AND THE EXERCISE PRICE ARE REQUIRED TO
      PURCHASE ONE SHARE. THIS CERTIFICATE REPRESENTS
    __________ WARRANTS.

	 	 
	2. 	
      These Warrants are issued subject to the Terms and
      Conditions, and the Warrant Holder may exercise the right to purchase
      Shares only in accordance with those Terms and Conditions.

	 	 
	3. 	
      Nothing contained herein or in the Terms and Conditions
      will confer any right upon the Holder hereof or any other person to
      subscribe for or purchase any Shares at any time subsequent to the Expiry
      Date, and from and after such time, this Warrant and all rights hereunder
      will be void and of no value.

     IN WITNESS WHEREOF the Company
has executed this Warrant Certificate this 27th day of March 2009.

PANGLOBAL BRANDS INC.

	 Per: 		 
	 	Authorized Signatory
  

APPENDIX A

TERMS AND CONDITIONS dated March 27, 2009, attached to the
Warrants issued by Panglobal Brands Inc.

	1. 	
      INTERPRETATION

	 	 
	1.1 	
      Definitions

	In these Terms and Conditions, unless there is
      something in the subject matter or context inconsistent therewith: 
	 	  	  
	 	(ii) 	"Company" means Panglobal Brands
      Inc. until a successor corporation will have become such as a result of
      consolidation, amalgamation or merger with or into any other corporation
      or corporations, or as a result of the conveyance or transfer of all or
      substantially all of the properties and estates of the Company as an
      entirety to any other corporation and thereafter "Company" will mean such
      successor corporation; 
	 	  	  
	 	(iii) 	"Company's Auditors" means an
      independent firm of accountants duly appointed as auditors of the Company;
    
	 	  	  
	 	(iv) 	"herein", "hereby" and similar
      expressions refer to these Terms and Conditions as the same may be amended
      or modified from time to time; and the expression "Article" and "Section,"
      followed by a number refer to the specified Article or Section of these
      Terms and Conditions; 
	 	  	  
	 	(v) 	"person" means an individual,
      corporation, partnership, trustee or any unincorporated organization and
      words importing persons have a similar meaning; 
	 	  	  
	 	(vi) 	"Warrant Holders" or "Holders"
      means the holders of the Warrants; and, 
	 	  	  
	 	(vii) 	"Warrants" means the warrants of
      the Company issued and presently authorized and for the time being
      outstanding. 

	1.2 	
      Gender

Words importing the singular number include the plural and vice
versa and words importing the masculine gender include the feminine and neuter
genders.
Interpretation not affected by Headings
The division of these
Terms and Conditions into Articles and Sections, and the insertion of headings
are for convenience of reference only and will not affect the construction or
interpretation thereof.

	1.3 	
      Applicable Law

The Warrant and the terms hereof are governed by the laws of
the State of Nevada. The Holder, in its personal or corporate capacity and, if
applicable, on behalf of each beneficial purchaser for whom it is acting,
irrevocably attorns to the jurisdiction of the courts of the State of
Nevada.

	2. 	
      ISSUE OF WARRANTS

	 	 
	2.1 	
      Additional Warrants

The Company may at any time and from time to time issue
additional warrants or grant options or similar rights to purchase shares of its
capital stock.

- 2 -

	2.2 	
      Warrants to Rank Pari
  Passu

All Warrants and additional warrants, options or similar rights
to purchase shares from time to time issued or granted by the Company, will rank
pari passu whatever may be the actual dates of issue or grant thereof, or
of the dates of the certificates by which they are evidenced.

	2.3 	
      Issue in substitution for Lost Warrants

	 	 	 
		(i) 	
      In case a Warrant becomes mutilated, lost, destroyed or
      stolen, the Company, at its discretion, may issue and deliver a new
      Warrant of like date and tenor as the one mutilated, lost, destroyed or
      stolen, in exchange for and in place of and upon cancellation of such
      mutilated Warrant, or in lieu of, and in substitution for such lost,
      destroyed or stolen Warrant and the substituted Warrant will be entitled
      to the benefit hereof and rank equally in accordance with its terms with
      all other Warrants issued or to be issued by the Company.

	 	 	 
		(ii) 	
      The applicant for the issue of a new Warrant pursuant
      hereto will bear the cost of the issue thereof and in case of loss,
      destruction or theft furnish to the Company such evidence of ownership and
      of loss, destruction, or theft of the Warrant so lost, destroyed or stolen
      as will be satisfactory to the Company in its discretion and such
      applicant may also be required to furnish indemnity in amount and form
      satisfactory to the Company in its discretion, and will pay the reasonable
      charges of the Company in connection
therewith.

	2.4 	
      Warrant Holder Not a
Shareholder

The holding of a Warrant will not constitute the Holder thereof
as a shareholder of the Company, nor entitle him to any right or interest in
respect thereof except as in the Warrant expressly provided.

	3. 	
      NOTICE

	 	 
	3.1 	
      Notice to Warrant Holders

Any notice required or permitted to be given to the Holders
will be in writing and may be given by prepaid registered post, electronic
facsimile transmission or other means of electronic communication capable of
producing a printed copy to the address of the Holder appearing on the Holder's
Warrant or to such other address as any Holder may specify by notice in writing
to the Company, and any such notice will be deemed to have been given and
received by the Holder to whom it was addressed if mailed, on the third day
following the mailing thereof, if by facsimile or other electronic
communication, on successful transmission, or, if delivered, on delivery; but if
at the time or mailing or between the time of mailing and the third business day
thereafter there is a strike, lockout, or other labour disturbance affecting
postal service, then the notice will not be effectively given until actually
delivered.

	3.2 	
      Notice to the Company

Any notice required or permitted to be given to the Company
will be in writing and may be given by prepaid registered post, electronic
facsimile transmission or other means of electronic communication capable of
producing a printed copy to the address of the Company set forth below or such
other address as the Company may specify by notice in writing to the Holder, and
any such notice will be deemed to have been given and received by the Company to
whom it was addressed if mailed, on the third day following the mailing thereof,
if by facsimile or other electronic communication, on successful transmission,
or, if delivered, on delivery; but if at the time or mailing or between the time
of mailing and the third business day thereafter there is a strike, lockout, or
other labour disturbance affecting postal service, then the notice will not be
effectively given until actually delivered:

Panglobal Brands Inc. 
2853 E. Pico
Blvd.
Los Angeles, CA 90023

- 3 -

Attention: President 
Fax No. (323)
588-0868 
with a copy, which shall not constitute notice, to:

Clark Wilson LLP
 Barristers and
Solicitors 
800 – 885 West Georgia Street
 Vancouver, British Columbia

Canada V6C 3H1

Attention: Bernard Pinsky
 Fax:
(604) 687-6314

	4. 	
      EXERCISE OF WARRANTS

	 	 
	4.1 	
      Method of Exercise of
Warrants

The right to purchase shares conferred by the Warrants may be
exercised by the Holder surrendering the Warrant Certificate representing same,
with a duly completed and executed subscription in the form attached hereto and
a bank draft or certified cheque payable to the Company for the purchase price
applicable at the time of surrender in respect of the shares subscribed for in
lawful money of the United States of America, to the Company at the address set
forth in, or from time to time specified by the Company pursuant to Section 3.2
hereto.

	4.2 	
      Effect of Exercise of Warrants

	 	 	 
		(i) 	
      Upon surrender and payment as aforesaid the shares so
      subscribed for will be deemed to have been issued and such person or
      persons will be deemed to have become the Holder or Holders of record of
      such shares on the date of such surrender and payment, and such shares
      will be issued at the subscription price in effect on the date of such
      surrender and payment.

	 	 	 
		(ii) 	
      Within ten business days after surrender and payment as
      aforesaid, the Company will forthwith cause to be delivered to the person
      or persons in whose name or names the shares so subscribed for are to be
      issued as specified in such subscription or mailed to him or them at his
      or their respective addresses specified in such subscription, a
      certificate or certificates for the appropriate number of shares not
      exceeding those which the Warrant Holder is entitled to purchase pursuant
      to the Warrant surrendered.

	 	 
	4.3 	Subscription for Less Than Entitlement

The Holder of any Warrant may subscribe for and purchase a
number of shares less than the number which he is entitled to purchase pursuant
to the surrendered Warrant. In the event of any purchase of a number of shares
less than the number which can be purchased pursuant to a Warrant, the Holder
thereof upon exercise thereof will in addition be entitled to receive a new
Warrant in respect of the balance of the shares which he was entitled to
purchase pursuant to the surrendered Warrant and which were not then
purchased.

	4.4 	
      Warrants for Fractions of
Shares

To the extent that the Holder of any Warrant is entitled to
receive on the exercise or partial exercise thereof a fraction of a share, such
right may be exercised in respect of such fraction only in combination with
another Warrant or other Warrants which in the aggregate entitle the Holder to
receive a whole number of such shares.

	4.5 	
      Expiration of Warrants

After the expiration of the period within which a Warrant is
exercisable, all rights thereunder will wholly cease and terminate and such
Warrant will be void and of no effect.

- 4 -

	4.6 	
      Time of Essence

Time will be of the essence hereof.

	4.7 	
      Subscription Price

Each Warrant is exercisable on or before 5:00 p.m. (Pacific
Time) on March 27, 2010 at a price per Share of US $0.25 (the "Exercise Price").
One Warrant and the Exercise Price are required to subscribe for each share
during the term of the Warrants.

	4.8 	
      Adjustment of Exercise
Price

The Exercise Price and the number of shares deliverable upon
the exercise of the Warrants will be subject to adjustment in the event and in
the manner following:

	 	(a) 	
      If and whenever the shares at any time outstanding are
      subdivided into a greater or consolidated into a lesser number of shares,
      the Exercise Price will be decreased or increased proportionately as the
      case may be; upon any such subdivision or consolidation the number of
      shares deliverable upon the exercise of the Warrants will be increased or
      decreased proportionately as the case may be.

	 	 	 
	 	(b) 	
      In case of any capital reorganization or of any
      reclassification of the capital of the Company or in the case of the
      consolidation, merger or amalgamation of the Company with or into any
      other Company (hereinafter collectively referred to as a
      "Reorganization"), each Warrant will after such Reorganization confer the
      right to purchase the number of shares or other securities of the Company
      (or of the Company's resulting from such Reorganization) which the Warrant
      Holder would have been entitled to upon Reorganization if the Warrant
      Holder had been a shareholder at the time of such
Reorganization.

	 	 	 
	 		
      In any such case, if necessary, appropriate adjustments
      will be made in the application of the provisions of this Article Four
      relating to the rights and interest thereafter of the Holders of the
      Warrants so that the provisions of this Article Four will be made
      applicable as nearly as reasonably possible to any shares or other
      securities deliverable after the Reorganization on the exercise of the
      Warrants.

	 	 	 
	 		
      The subdivision or consolidation of shares at any time
      outstanding into a greater or lesser number of shares (whether with or
      without par value) will not be deemed to be a Reorganization for the
      purposes of this clause 4.8(b).

The adjustments provided for in this Section 4.8 are cumulative
  and will become effective immediately after the record date or, if no record
  date is fixed, the effective date of the event which results in such
  adjustments.

	4.9 	
      Determination of
Adjustments

If any questions will at any time arise with respect to the
Exercise Price or any adjustment provided for in Section 4.8 hereto, such
questions will be conclusively determined by the Company's Auditors, or, if they
decline to so act any other firm of certified public accountants in the United
States of America that the Company may designate and who will have access to all
appropriate records and such determination will be binding upon the Company and
the Holders of the Warrants.

	5. 	
      IMMUNITY OF SHAREHOLDERS

The Warrant Holder, as part of the consideration for the issue
of the Warrants, waives and will not have any right, cause of action or remedy
now or hereafter existing in any jurisdiction against any past, present or
future 

- 5 -

incorporator, shareholder, director or officer of the Company
for the issue of shares pursuant to any Warrant or on any covenant, agreement,
representation or warranty by the Company herein contained or in the
Warrant.

	6. 	
      MODIFICATION OF TERMS

From time to time the Company may, subject to the provisions of
these presents, modify the Terms and Conditions hereof, for the purpose of
correction or rectification of any ambiguities, defective provisions, errors or
omissions herein.

	7 	
      WARRANTS NOT TRANSFERABLE

The Warrants and all rights attached to them are not
transferable.

DATED as of the date first above written in these Terms and
Conditions.

	 	Panglobal Brands Inc. 
	 	 	  
	 	 	  
	 	Per: 	 
	 	 	Authorized Signatory
  

FORM OF SUBSCRIPTION

	TO: 	Panglobal Brands Inc. 
	  	2853 E. Pico Blvd. 
	  	Los Angeles, CA 90023 

	The undersigned Holder of the within Warrants hereby
      subscribes for __________ common shares (the "Shares") of Panglobal Brands Inc. (the
      "Company") pursuant to the within Warrants at US$0.25 per Share on the
      terms specified in the said Warrants. This subscription is accompanied by
      a certified cheque or bank draft payable to or to the order of the Company
      for the whole amount of the purchase price of the Shares. 
	 
	The undersigned represents that, at the time of the
      exercise of these Warrants, all of the representations and warranties
      contained in the Subscription Agreement between the Company and the
      undersigned pursuant to which these Warrants were issued are true and
      accurate. 

	The undersigned hereby directs that the Shares be
      registered as follows: 	 	  
	NAME(S) IN
      FULL 	 	ADDRESS(ES) 	 	NUMBER OF SHARES 
	  	 	  	 	  
	  	 	  	 	  
	  	 	  	 	  
	  	 	  	 	  
	  	 	TOTAL: 	 	  

(Please print full name in which share certificates are to be
issued, stating whether Mr., Mrs. or Miss is applicable).

DATED this ________day of ____________,______.

In the presence of:

	 	 	 
	Signature of Witness 	 	Signature of Warrant Holder

	Please print below your name and address in full.
	 	 
	Name (Mr./Mrs./Miss) 	 
	 	 
	Address 	 
	 	 
	 	 

INSTRUCTIONS FOR SUBSCRIPTION

The signature to the subscription must correspond in every
particular with the name written upon the face of the Warrant without alteration
or enlargement or any change whatever. If there is more than one subscriber, all
must sign. In the case of persons signing by agent or attorney or by personal
representative(s), the authority of such agent, attorney or representative(s) to
sign must be proven to the satisfaction of the Company. If the Warrant
certificate and the form of subscription are being forwarded by mail, registered
mail must be employed.

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