Document:

Exhibit 10.3

 

NOTE PURCHASE AGREEMENT

 

THIS NOTE PURCHASE AGREEMENT
(the “Purchase Agreement”) dated as of 21st January 2022, is between Sharing Economy International Inc.,
a Nevada corporation (the “Company”), and PYRAM LC ARCHITECTURE LIMITED (the “Purchaser”).

 

RECITALS

 

A. The Company has requested
that the Purchaser purchase a convertible promissory note in the form attached hereto as Exhibit A (the “Note”)
for a purchase price of US$ 19,232 on the terms and conditions set forth herein.

 

B. The Purchaser has agreed
to purchase the Note on the terms and conditions set forth therein.

 

NOW, THEREFORE, in consideration
of the mutual promises and covenants contained in this Purchase Agreement, the parties hereto, intending to be legally bound, agree as
follows:

 

ARTICLE I DEFINITIONS

1.01 Defined Terms.

 

As used in this Purchase
Agreement and to the extent not otherwise defined herein, the following terms shall have the following meanings:

 

“Affiliate”
means with respect to the Purchaser, another entity that controls, is controlled by, or is under common control with the Purchaser, for
so long as such control exists. For purposes of this definition only, “control” shall mean beneficial ownership (direct or
indirect) of at least fifty percent (50%) of the equity securities of an entity entitled to vote in the election of directors (or,
in the case of an entity that is not a corporation, in the election of the corresponding managing authority).

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Common Stock”
means the common stock of the Company, par value $0.001 per share, and any other class of securities into which such securities may hereafter
be reclassified or changed.

 

“Common Stock Equivalents”
means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire at any time Common Stock, including,
without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable
or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Material Adverse
Effect” means a material adverse effect on the business, operations, property or financial condition of the Company.

 

     

     

    

 

“Person”
means an individual, partnership, corporation, business trust, joint stock company, limited liability company, trust, unincorporated association,
joint venture, governmental authority or other entity of whatever nature.

 

“Securities Act”
means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Subsidiary”
means any subsidiary of the Company, and shall, where applicable, also include any direct or indirect subsidiary of the Company formed
or acquired after the date hereof.

 

“Trading Day”
means a day on which the principal Trading Market is open for trading.

 

ARTICLE II PURCHASE OF CONVERTIBLE NOTE

 

2.01 Purchase and Sale
of the Note by the Purchaser. Subject to and upon the terms and conditions set forth in this Purchase Agreement and in reliance on
the representations and warranties set forth herein, the Company agrees to issue and sell to Purchaser, and Purchaser agrees to purchase
from the Company, at the Closing referred to in Section 2.02 below, a Note made by the Company in favor of such Purchaser in the principal
amount of US$ 19,232.

 

2.02 The Closing.
The sale and purchase of the Note under this Purchase Agreement shall be made pursuant to a closing on or before 20th July
2022 and at such closing, the Company will deliver to Purchaser the Note against payment of the purchase price therefor (the “Closing”
and the date thereof, the “Closing Date”). The parties agree that the delivery of this Purchase Agreement and any other
documents at the Closing may be completed by means of an exchange of facsimile (or email) signatures with original copies to follow by
mail or courier service.

 

ARTICLE III REPRESENTATIONS AND WARRANTIES
OF THE COMPANY

 

The Company hereby makes
the following representations and warranties to the Purchaser as of the date hereof and as of the Closing.

 

3.01 Incorporation and
Good Standing. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of the State of
Nevada. The Company has the requisite power and authority to own, lease and operate its properties and to carry on its business as now
being conducted or as proposed to be conducted.

 

3.02 Corporate Power and
Authority; Authorization; Enforceability. All corporate action on the part of the Company necessary for the authorization of this
Purchase Agreement, the Note and the performance of all obligations of the Company hereunder and thereunder at the Closing has been taken
or will be taken prior to the Closing. This Purchase Agreement has been, and the Note will be, when executed and delivered at the Closing,
duly executed and delivered by the Company. This Purchase Agreement constitutes, and the Note when executed and delivered at the Closing,
will constitute valid and binding obligations of the Company enforceable in accordance with their terms, except as limited by (a) applicable
bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors’ rights,
and (b) general principles of equity that restrict the availability of equitable remedies.

 

3.03 No Conflict.
Neither the authorization, execution, delivery and performance of this Purchase Agreement, the consummation of the transactions contemplated
hereby, or the sale, issuance and delivery of the Note, or any of the shares of capital stock of the Company which may be issued pursuant
to the terms of the Note will conflict with or result in a breach of or default under (or with due notice or lapse of time or both would
result in a default under) the Company’s Articles of Incorporation or by-laws, as amended or any statute, law, rule, regulation,
judgment, decree, writ, injunction, order or award of any arbitrator, court or governmental authority.

 

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3.04 Capitalization. The
Company has not issued any capital stock since its most recently filed periodic report under the Exchange Act, other than pursuant to
the exercise of employee stock options under the Company’s stock option plans, the issuance of shares of Common Stock to employees
pursuant to the Company’s employee stock purchase plans and pursuant to the conversion and/or exercise of Common Stock Equivalents
outstanding as of the date of the most recently filed periodic report under the Exchange Act. No Person has any right of first refusal,
preemptive right, right of participation, or any similar right to participate in the transactions contemplated by the Purchase Agreement.
Except as a result of the purchase and sale of the Note, there are no outstanding options, warrants, scrip rights to subscribe to, calls
or commitments of any character whatsoever relating to, or securities, rights or obligations convertible into or exercisable or exchangeable
for, or giving any Person any right to subscribe for or acquire any shares of Common Stock or the capital stock of any Subsidiary, or
contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound to issue additional
shares of Common Stock or Common Stock Equivalents or capital stock of any Subsidiary. The issuance and sale of the Note will not obligate
the Company or any Subsidiary to issue shares of Common Stock or other securities to any Person (other than the Purchaser) and will not
result in a right of any holder of Company securities to adjust the exercise, conversion, exchange or reset price under any of such securities.
There are no outstanding securities or instruments of the Company or any Subsidiary that contain any redemption or similar provisions,
and there are no contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound
to redeem a security of the Company or such Subsidiary. The Company does not have any stock appreciation rights or “phantom stock”
plans or any similar plan or agreement. All of the outstanding shares of capital stock of the Company are duly authorized, validly issued,
fully paid and non-assessable, have been issued in compliance with all federal and state securities laws, and none of such outstanding
shares was issued in violation of any preemptive rights or similar rights to subscribe for or purchase securities. No further approval
or authorization of any stockholder, the Board of Directors or others is required for the issuance and sale of the Note.

 

3.05 Financial Statements.
The Company is current with all reports, schedules, forms, statements and other documents required to be filed by the Company under the
Securities Act and the Exchange Act, (the “SEC Reports”). As of their respective dates, the SEC Reports complied in
all material respects with the requirements of the Securities Act and the Exchange Act, as applicable, and none of the SEC Reports, when
filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary
in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The financial statements
of the Company included in the SEC Reports comply in all material respects with applicable accounting requirements and the rules and regulations
of the Commission with respect thereto as in effect at the time of filing. Such financial statements have been prepared in accordance
with United States generally accepted accounting principles applied on a consistent basis during the periods involved (“GAAP”),
except as may be otherwise specified in such financial statements or the notes thereto and except that unaudited financial statements
may not contain all footnotes required by GAAP, and fairly present in all material respects the financial position of the Company and
its consolidated Subsidiaries as of and for the dates thereof and the results of operations and cash flows for the periods then ended,
subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments.

 

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3.06 Absence of Undisclosed
Liabilities. Since the date of the latest audited financial statements included within the SEC Reports, except as specifically disclosed
in a subsequent SEC Report filed prior to the date hereof: (i) there has been no event, occurrence or development that has had or that
could reasonably be expected to result in a Material Adverse Effect, (ii) the Company has not incurred any liabilities (contingent or
otherwise) other than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent with past practice
and (B) liabilities not required to be reflected in the Company’s financial statements pursuant to GAAP or disclosed in filings
made with the Commission, (iii) the Company has not altered its method of accounting, and (iv) the Company has not declared or made any
dividend or distribution of cash or other property to its stockholders or purchased, redeemed or made any agreements to purchase or redeem
any shares of its capital stock. The Company does not have pending before the Commission any request for confidential treatment of information.
Except for the issuance of the Note contemplated by this Purchase Agreement, no event, liability, fact, circumstance, occurrence or development
has occurred or exists, or is reasonably expected to occur or exist, with respect to the Company or its Subsidiaries or their respective
businesses, properties, operations, assets or financial condition, that would be required to be disclosed by the Company under applicable
securities laws at the time this representation is made or deemed made that has not been publicly disclosed at least one (1) Trading Day
prior to the date that this representation is made.

 

3.07 Litigation. There
is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge of the Company, threatened
against or affecting the Company, any Subsidiary or any of their respective properties before or by any court, arbitrator, governmental
or administrative agency or regulatory authority (federal, state, county, local or foreign) (collectively, an “Action”)
which (i) adversely affects or challenges the legality, validity or enforceability of any of the Purchase Agreement or the Note or (ii)
could, if there were an unfavorable decision, have or reasonably be expected to result in a Material Adverse Effect. Neither the Company
nor any Subsidiary, nor any director or officer thereof, is or has been the subject of any Action involving a claim of violation of or
liability under federal or state securities laws or a claim of breach of fiduciary duty. There has not been, and to the knowledge of the
Company, there is not pending or contemplated, any investigation by the Commission involving the Company or any current or former director
or officer of the Company. The Commission has not issued any stop order or other order suspending the effectiveness of any registration
statement filed by the Company or any Subsidiary under the Exchange Act or the Securities Act.

 

3.08 No Broker. The
Company has no contract, arrangement or understanding with any broker, finder, agent, financial advisor or other intermediary with respect
to the transactions contemplated by this Purchase Agreement.

 

3.09 Compliance. Neither
the Company nor any Subsidiary: (i) is in default under or in violation of (and no event has occurred that has not been waived that, with
notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the Company or any Subsidiary
received notice of a claim that it is in default under or that it is in violation of, any indenture, loan or credit agreement or any other
agreement or instrument to which it is a party or by which it or any of its properties is bound (whether or not such default or violation
has been waived), (ii) is in violation of any judgment, decree, or order of any court, arbitrator or other governmental authority or (iii)
is or has been in violation of any statute, rule, ordinance or regulation of any governmental authority, including without limitation
all foreign, federal, state and local laws relating to taxes, environmental protection, occupational health and safety, product quality
and safety and employment and labor matters, except in each case as could not have or reasonably be expected to result in a Material Adverse
Effect.

 

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3.10 Listing and Maintenance
Requirements. The Common Stock is registered pursuant to Section 12(b) or 12(g) of the Exchange Act, and the Company has taken no
action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of the Common Stock under
the Exchange Act nor has the Company received any notification that the Commission is contemplating terminating such registration. The
Company is, and has no reason to believe that it will not continue to be, in compliance with all such listing and maintenance requirements.

 

3.11 Tax Status. Except
for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect, the
Company and its Subsidiaries each (i) has made or filed all United States federal, state and local income and all foreign income and franchise
tax returns, reports and declarations required by any jurisdiction to which it is subject, (ii) has paid all taxes and other governmental
assessments and charges that are material in amount, shown or determined to be due on such returns, reports and declarations and (iii)
has set aside on its books provision reasonably adequate for the payment of all material taxes for periods subsequent to the periods to
which such returns, reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due by the taxing authority
of any jurisdiction, and the officers of the Company or of any Subsidiary know of no basis for any such claim.

 

ARTICLE IV REPRESENTATIONS AND WARRANTIES
OF THE PURCHASER

 

Purchaser hereby represents and warrants to the
Company as follows:

 

4.01 Authorization.
The execution, delivery and performance by Purchaser of this Purchase Agreement and the Note have been duly authorized by all requisite
corporate, partnership or other action on the part of Purchaser. This Purchase Agreement and the Note to which Purchaser is a party have
been duly executed and delivered on behalf of Purchaser by a duly authorized representative of Purchaser and constitute the valid and
legally binding obligations of Purchaser enforceable against Purchaser in accordance with their respective terms, except as such enforceability
may be limited by bankruptcy, insolvency, reorganization and other laws affecting creditors’ rights generally and by general equitable
principles.

 

4.02 Information.
Purchaser has been furnished with or has had access to all information it has requested from the Company and has had an opportunity to
review the books and records of the Company and to discuss with management of the Company its business and financial affairs and has generally
such knowledge and experience in business and financial matters and with respect to investments in securities of this nature so as to
enable it to understand and evaluate the risks of such investment and form an investment decision with respect thereto.

 

4.03 Own Account.
The Purchaser understands that the Common Stock underlying the Note are “restricted securities” and have not been registered
under the Securities Act or any applicable state securities law and is making this investment for its own account and not with a view
to or for distributing or reselling such Common Stock or any part thereof in violation of the Securities Act, has no present intention
of distributing any of such Common Stock in violation of the Securities Act and has no direct or indirect arrangement or understandings
with any other persons to distribute or regarding the distribution of such Common Stock in violation of the Securities Act.

 

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4.04 Experience of Such
Purchaser. The Purchaser, either alone or together with its representatives, has such knowledge, sophistication and experience in
business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Company, and
has so evaluated the merits and risks of such investment. Such Purchaser is able to bear the economic risk of an investment in the Company
and, at the present time, is able to afford a complete loss of such investment.

 

4.05 General Solicitation.
The Purchaser is not, to such Purchaser’s knowledge, purchasing the Note as a result of any advertisement, article, notice or other
communication regarding the Shares published in any newspaper, magazine or similar media or broadcast over television or radio or presented
at any seminar or any other general solicitation or general advertisement.

 

4.06 Purchaser Status.
The Purchaser hereby represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection with
any invitation to subscribe for the Note or any use of this Purchase Agreement, including (i) the legal requirements within its jurisdiction
for the purchase of the Note, (ii) any foreign exchange restrictions applicable to such purchase, (iii) any governmental or other consents
that may need to be obtained, and (iv) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding,
redemption, sale, or transfer of the Note. The Purchaser’s subscription and payment for and continued beneficial ownership of the
Common Stock will not violate any applicable securities or other laws of the Purchaser’s jurisdiction.

 

4.07 Regulation S Compliance.
If the Purchaser is a non-U.S. Person (as defined in Regulation S promulgated under the Securities Act), neither the Purchaser nor any
person acting on its behalf has engaged, nor will engage, in any directed selling efforts to a U.S. Person (as defined in Regulation S
promulgated under the Securities Act) with respect to the Note and the Purchaser and any person acting on its behalf has complied and
will comply with the “offering restrictions” requirements of Regulation S. The transactions contemplated by this Agreement
have not been pre-arranged with a buyer located in the United States or with a U.S. Person, and are not part of a plan or scheme to evade
the registration requirements of the Securities Act. Neither the Purchaser nor any person acting on its behalf has undertaken or carried
out any activity for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United
States, its territories or possessions, for the Note. The Purchaser agrees not to cause any advertisement of the Note to be published
in any newspaper or periodical or posted in any public place and not to issue any circular relating to the Note, except such advertisements
that include the statements required by Regulation S, and only offshore and not in the U.S. or its territories, and only in compliance
with any local applicable securities laws.

 

4.08 Accredited Investor.
If the Purchaser is a U.S. Person, the Purchaser is an “accredited investor” within the meaning set forth in Rule 501 under
the Securities Act, is capable of evaluating the merits and risks of the transactions contemplated hereunder and is able to bear the economic
risks of its investment in the Note.

 

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ARTICLE V CONDITIONS

 

5.01 Conditions to Purchaser’s
Obligations at the Closing. Purchaser’s obligations under Article II of this Purchase Agreement are subject to the satisfaction,
at or prior to the Closing Date, of the following conditions:

 

(a) Representations and
Warranties True; Performance of Obligations. The representations and warranties made by the Company in Article III hereof shall be
true and correct in all material respects as of the Closing;

 

(b) Legal Investment.
On the Closing Date, the sale and issuance of the Note shall be legally permitted by all laws and regulations to which Purchaser and the
Company are subject;

 

(c) Consents, Permits,
and Waivers. The Company shall have obtained any and all consents, permits and waivers necessary or appropriate for consummation of
the transactions contemplated by this Purchase Agreement; and

 

(d) Delivery of the Note.
The Company shall have delivered the Note to Purchaser.

 

5.02 Conditions to Obligations
of the Company. The Company’s obligation to issue and sell the Note is subject to the satisfaction, at or prior to each Closing
Date, of the following conditions:

 

(a) Representations and
Warranties True. The representations and warranties in Article IV made by Purchaser shall be true and correct as of the Closing Date;

 

(b) Legal Investment.
On the Closing Date, the sale and issuance of the Note shall be legally permitted by all laws and regulations to which Purchaser and the
Company are subject;

 

(c) Consents, Permits,
and Waivers. The Company shall have obtained any and all consents, permits and waivers necessary or appropriate for consummation of
the transactions contemplated by this Purchase Agreement; and

 

(d) Purchase Price Delivery.
The Company shall have received from Purchaser in immediately available funds the principal amount of the Note.

 

ARTICLE VI AFFIRMATIVE COVENANTS OF THE COMPANY

 

For so long as the Note is
outstanding, the Company agrees to the following:

 

6.01 Payment of Notes.
The Company will punctually pay or cause to be paid the principal of and interest on the Note at the times and places and in the manner
specified in the Note.

 

6.02 Reservation of Shares
of Capital Stock. The Company agrees to take any and all action as is necessary or desirable to authorize, reserve and issue the shares
of the Company’s capital stock issuable upon conversion of the Note promptly upon a determination of the terms of such securities.

 

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ARTICLE VII MISCELLANEOUS

 

7.01 Amendments and Waivers.
This Purchase Agreement and the Note may be amended, and any term or provision of this Purchase Agreement and the Note may be waived (either
generally or in a particular instance and either retroactively or prospectively) only upon the written consent of the Company and the
Purchaser.

 

7.02 No Stockholder Rights.
Nothing contained in this Purchase Agreement or the Note shall be construed as conferring upon Purchaser the right to vote or to consent
or to receive notice as a stockholder in respect of meetings of stockholders for the election of directors of the Company or any other
matters or any rights whatsoever as a stockholder of the Company and (ii) no dividends shall be payable or accrued in respect of the Note
or the Common Stock obtainable thereunder, in both cases of (i) and (ii) until, and only to the extent that, the Note shall have been
duly converted into and/or exercised for Common Stock.

 

7.03 Successors and Assigns.
This Purchase Agreement may not be assigned, conveyed or transferred without the prior written consent of the Company. Subject to the
foregoing, the rights and obligations of the Company and Purchaser under this Purchase Agreement shall be binding upon and benefit their
respective permitted successors, assigns, heirs, administrators and transferees. The terms and provisions of this Purchase Agreement are
for the sole benefit of the parties hereto and their respective permitted successors and assigns, and are not intended to confer any third-party
benefit on any other person.

 

7.04 Notices. Any
and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be
deemed given and effective on the earliest of: (a) the date of transmission, if such notice or communication is delivered via facsimile
at the facsimile number or email attachment as set forth on the signature pages attached hereto at or prior to 5:30 p.m. (New York City
time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile
at the facsimile number or email attachment as set forth on the signature pages attached hereto on a day that is not a Trading Day or
later than 5:30 p.m. (New York City time) on any Trading Day, (c) the second (2nd) Trading Day following the date of mailing,
if sent by U.S. nationally recognized overnight courier service or (d) upon actual receipt by the party to whom such notice is required
to be given. The address for such notices and communications shall be as set forth on the signature pages attached hereto. To the extent
that any notice provided pursuant to any Transaction Document constitutes, or contains material, non-public information regarding the
Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report
on Form 8-K.

 

7.05 Waiver; Cumulative
Remedies. No failure to exercise and no delay in exercising, on the part of Purchaser, any right, remedy, power or privilege hereunder
shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude
any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and
privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.

 

7.06 Payment of Fees,
Expenses. Each of the parties hereto shall bear its own costs and expenses in connection with the transactions contemplated hereunder.

 

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7.07 Counterparts.
This Purchase Agreement may be executed by one or more of the parties to this Purchase Agreement on any number of separate counterparts,
and all of said counterparts taken together shall be deemed to constitute one and the same instrument.

 

7.08 Severability.
Any provision of this Purchase Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

7.09 Governing Law.
This Purchase Agreement shall be construed and enforced in accordance with and governed by the State of New York, without giving effect
to the conflicts of law principles thereof.

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto have caused
this Purchase Agreement to be duly executed and delivered by their proper and duly authorized officers as of the day and year first above
written.

 

	SHARING ECONOMY INTERNATIONAL INC.	  Address for Notice:
	 	 	 
	By:	 	  Email:carmen.lam@seii.com
	Name: 	Lam Ka Man	 
	Title:	Chief Financial Officer	 

 

Name
of Purchaser: PYRAM LC ARCHITECTURE LIMITED

                         

Signature
of Authorized Signatory of Purchaser:   

                         

Name
of Authorized Signatory: Yeung Shuk Mei 

                         

Title
of Authorized Signatory: Director 

                         

Email
Address of Authorized Signatory: lorraine.pyramarchitecture@gmail.com 

                         

Address
for Notice to Purchaser: REDHILL PENINSULA, HOUSE 74 CEDAR DRIVE, TAI TAM

,
HONG KONG

 

     

     

    

 

EXHIBIT A

 

THIS NOTE AND ANY SHARES ACQUIRED UPON CONVERSION
OF THIS NOTE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED,
PLEDGED OR HYPOTHECATED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT FILED UNDER SUCH ACT OR PURSUANT TO AN OPINION OF COUNSEL
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

CONVERTIBLE PROMISSORY NOTE

 

	US$ 19,232	 	21st  January 2022

 

FOR VALUE RECEIVED, Sharing
Economy International Inc., a Nevada corporation (the “Maker”), promises to pay to PYRAM LC ARCHITECTURE LIMITED or
its assigns (the “Holder”) the principal sum of US$ 19,232, together with interest on the unpaid principal balance
of this Note from time to time outstanding at the rate of one percent (12%) per annum until paid in full or converted in accordance with
the terms of the Note. Interest on this Note shall be computed on the basis of a year of 365 days for the actual number of days elapsed
and shall accrue, but not compound, daily. All payments by the Maker under this Note shall be in immediately available funds.

 

1. Conversion. On 20th July
2022, all of the outstanding principal and accrued interest under this Note (the “Outstanding Amount”) will be converted
into shares of common stock of the Company at a conversion price equal to 70% of the average of past ten days closing price prior to 20th
July 2022 (the “Conversion Date”).

 

2. Repayment. The Company shall have the
option, in its sole and absolute discretion, to repay the Outstanding Amount in full on or before the Conversion Date.

 

3. Events of Default. This Note shall become
immediately due and payable without notice or demand upon the occurrence at any time of any of the following events of default (individually,
an “Event of Default” and collectively, “Events of Default”):

 

(a) the Maker files any petition
or action for relief under any bankruptcy, reorganization, insolvency or moratorium law or any other law for the relief of, or relating
to, debtors, now or hereafter in effect, or seeks the appointment of a custodian, receiver, trustee (or other similar official) of the
Maker or all or any substantial portion of the Maker’s assets, or makes any assignment for the benefit of creditors or takes any
action in furtherance of any of the foregoing, or fails to generally pay its debts as they become due; or

 

(b) an involuntary petition
is filed, or any proceeding or case is commenced, against the Maker (unless such proceeding or case is dismissed or discharged within
60 days of the filing or commencement thereof) under any bankruptcy, reorganization, arrangement, insolvency, adjustment of debt, liquidation
or moratorium statute now or hereafter in effect, or a custodian, receiver, trustee, assignee for the benefit of creditors (or other similar
official) is applied or appointed for the Maker or to take possession, custody or control of any property of the Maker, or an order for
relief is entered against the Maker in any of the foregoing.

 

     

     

    

 

Upon the occurrence of an
Event of Default, the Holder shall have then, or at any time thereafter, all of the rights and remedies afforded creditors generally by
the applicable federal laws or the laws of the State of New York.

 

4. Miscellaneous.

 

(a) All payments by the Maker
under this Note shall be made without set-off or counterclaim and be free and clear and without any deduction or withholding for any taxes
or fees of any nature whatever, unless the obligation to make such deduction or withholding is imposed by law.

 

(b) No delay or omission
on the part of the Holder in exercising any right under this Note shall operate as a waiver of such right or of any other right of the
Holder, nor shall any delay, omission or waiver on anyone occasion be deemed a bar to or waiver of the same or any other right on any
future occasion.

 

(c) The Maker and every endorser
of this Note, regardless of the time, order or place of signing, hereby waives presentment, demand, protest and notices of every kind
and assents to any permitted extension of the time of payment and to the addition or release of any other party primarily or secondarily
liable hereunder.

 

(d) Any notices, requests
and other communications hereunder shall be delivered in accordance with the terms of the Note Purchase Agreement.

 

(e) The Holder agrees that
no director or officer of the Maker shall have any personal liability for the repayment of this Note.

 

(f) This Note may not be
amended or modified except by an instrument executed by the Maker and the Holder.

 

(g) Until the conversion
of this Note, the Holder shall not have or exercise any rights by virtue hereof as a member or stockholder of the Maker.

 

(h) All rights and obligations
hereunder shall be governed by the laws of the State of New York (without giving effect to principles of conflicts or choices of law).

 

	SHARING ECONOMY INTERNATIONAL INC.
	 	 	 
	By:	/s/ Lam Ka Man	 
	 	Name: Lam Ka Man	 
	 	Title: Chief Financial Officer	 

 

     

     

    

 

WIRE TRANSFER INSTRUCTIONS:

 

Fund in US Dollars:

 

Bank Name:The Hongkong and Shanghai Banking
Corporation Limited

 

Bank Branch:

 

Bank Address:1 Queen’s Road, Central,
Hong Kong

 

Account Name: Sharing Economy Investment Limited

 

Account Number: 456-653757-838

 

Routing/ABA Number (Domestic Wires):

 

Swift Code (Foreign Wire): HSBCHKHHHKH

 

Reference: Sharing Economy International Inc Note
PurchaseExhibit
4.2

 

THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE
“U.S. Securities Act”) OR ANY APPLICABLE STATE SECURITIES LAWS. THE HOLDER HEREOF, BY PURCHASING SUCH SECURITIES, AGREES
FOR THE BENEFIT OF THE CORPORATION THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, DIRECTLY OR INDIRECTLY,
ONLY (A) TO THE CORPORATION, (B) OUTSIDE THE UNITED STATES IN COMPLIANCE WITH RULE 904 OF REGULATION S UNDER THE U.S. Securities Act
AND IN COMPLIANCE WITH LOCAL LAWS AND REGULATIONS, (C) IN COMPLIANCE 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 OR “BLUE SKY” LAWS,
OR (D) IN A TRANSACTION THAT DOES NOT REQUIRE REGISTRATION UNDER THE U.S. SECURITIES ACT OR ANY APPLICABLE STATE SECURITIES LAWS, AND,
IN THE CASE OF SUBPARAGRAPH (C) OR (D), THE SELLER FURNISHES TO THE CORPORATION AN OPINION OF COUNSEL OF RECOGNIZED STANDING OR SUCH
OTHER EVIDENCE AS THE CORPORATION MAY REQUIRE IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE CORPORATION TO SUCH EFFECT. DELIVERY
OF THIS CERTIFICATE MAY NOT CONSTITUTE “GOOD DELIVERY” IN SETTLEMENT OF TRANSACTIONS ON STOCK EXCHANGES IN CANADA.

 

WARRANT
TO PURCHASE COMMON SHARES

OF HOLLYWEED NORTH CANNABIS INC.

 

Effective
Date: As of November 5, 2020

 

This
certifies that ORIGO HOLDINGS, INC., a Delaware limited liability company (“Origo”), or registered assigns,
is the registered holder of the Warrant (this “Warrant”) represented by this Warrant Certificate (this “Warrant
Certificate”), which entitles Origo or any subsequent holder of this Warrant (each a “Holder”), subject
to the provisions contained herein, to purchase from HOLLYWEED NORTH CANNABIS INC., a corporation organized under the laws of
British Columbia (the “Company”), such number of the Class A common shares of the Company (the “Common Shares”),
as set forth in Section 2.1 herein, subject to adjustment upon the occurrence of certain events specified herein, at the Exercise Price
(as defined below), subject to adjustment upon the occurrence of certain events specified herein.

 

		1.	DEFINITIONS.

 

As
used in this Warrant, the following terms shall have the following meanings:

 

BCBCA:
the Business Corporations Act (British Columbia).

 

Board:
the board of directors of the Company.

 

Business
Day: any day that is not a day on which banking institutions are authorized or required to be closed in the jurisdiction in which
the principal office of the Company is located.

 

Cashless
Exercise: the meaning set forth in Clause (1) of Section 2.4.

 

CDN,
Dollars or $: means Canadian dollars.

 

Common
Shares: the voting Class A Common Shares of the Company.

 

     

     

    

 

Company:
HollyWeed North Cannabis Inc., a corporation organized under the laws of British Columbia, Canada.

 

Company
Formation Documents: the Amended and Restated Articles of Incorporation of the Company, dated May 27, 2019, as filed under the BCBCA,
as the same may be amended from time to time.

 

Effective
Exercise Date: the meaning set forth in Section 4.

 

Effective
Issuance Price: the meaning set forth in Section 4.5.

 

Excess
Tender Amount: the meaning set forth in Section 4.3.

 

Exchange
Act: the Securities Exchange Act of 1934, as amended.

 

ex-date:
when used with respect to any issuance or distribution, means the first Business Day after the record date, provided that if the
Common Shares are then traded on a Recognized Securities Market (for the avoidance of doubt, for purposes of this Warrant and any related
agreements, including Nasdaq) it shall mean the first date on which the Common Shares trade regular way on the relevant exchange or in
the relevant market from which the Fair Market Value was obtained without the right to receive such issuance or distribution.

 

Exercise
Date: the meaning set forth in Section 2.2.

 

Exercise
Price: subject to the adjustment provisions set forth in this Warrant, shall mean CDN twelve cents (CDN$0.12) per share, subject
to the adjustment provisions hereinafter set forth.

 

Expiration
Date: the meaning set forth in Section 2.3.

 

Fair
Market Value:

 

(i) In
the case of Common Shares means the amount which a willing buyer would pay a willing seller in an arm's-length transaction for one share
of such Common Shares, as determined by the Board in good faith, provided that if the Common Shares are then traded on a Recognized
Securities Market, it shall mean the closing sale price of such security (or, if no closing sale price is reported, the average of the
closing bid and ask prices or, if more than one in either case, the average of the average closing bid and the average closing ask prices)
on such date as reported in composite transactions on the Recognized Securities Market on which the Common Shares are then traded.

 

(ii) In
the case of cash, the amount thereof.

 

(iii) In
the case of other property, the amount which a willing buyer would pay a willing seller in an arm's-length transaction for such property,
as determined by the Board in good faith.

 

Holder:
from time to time, the holder(s) of this Warrant.

 

    2 

     

    

 

Line
of Credit Note: the CDN$6,675,000 secured convertible promissory note of the Company and its subsidiaries issued to Origo.

 

Nasdaq:
the Nasdaq Stock Exchange, including the Nasdaq Capital Market.

 

Person:
any individual, corporation, partnership, joint venture, association, joint stock company, trust, unincorporated organization or government
or any agency or political subdivision thereof.

 

Premium
Per Pro Forma Share: the meaning set forth in Section 4.3.

 

Recognized
Securities Market. any one of the Nasdaq, the New York Stock Exchange, the NYSE:American Exchange, the OTC Markets (including the
OTCQX platform), the Canadian Securities Exchange, the Toronto Stock Exchange, the TSX Venture Exchange or any other United States or
foreign stock exchange that constitutes the principal securities exchange on which the Common Shares is then traded.

 

Registration
Statement: a registration statement on Form F-1 (or other applicable form for registering securities under the Securities Act) as
filed by the Company with the SEC in connection with an initial public offering of the Common Shares in the United States.

 

Registrable
Securities: means the Common Shares issuable under this Warrant as well as any Common Shares issuable upon conversion of the Line
of Credit Note. Registrable Securities shall continue to be Registrable Securities (whether they continue to be held by Origo or they
are sold to other Persons) until (i) they are sold outside of the United States in accordance with any applicable Canadian securities
laws, (ii) pursuant to an effective registration statement under the Securities Act or (iii) they shall have otherwise been transferred
(including pursuant to Rule 144 under the Securities Act) and new securities not subject to transfer restrictions under any federal securities
laws and not bearing any legend restricting further transfer shall have been delivered by the Company, all applicable holding periods
shall have expired, and no other applicable and legally binding restriction on transfer by the holder thereof shall exist.

 

Reorganization
Event: the meaning set forth in Section 4.4.

 

Rights
to Purchase Securities: means options, warrants and rights issued by the Company (whether presently exercisable or not) to purchase
Common Shares that are convertible or exchangeable (whether presently convertible or exchangeable or not) into or exercisable (whether
presently exercisable or not) for Voting Securities but, for the avoidance of doubt, not including a shareholders rights plan.

 

Securities
Act: the United States Securities Act of 1933, as amended.

 

Transfer:
the meaning set forth in Section 2.5.

 

Voting
Securities means the Common Shares and any other securities of the Company having power generally to vote in the election of members
of the Board.

 

Warrant
Shares: means the Common Shares issuable or issued upon the exercise of this Warrant, consisting of seventy million, three hundred
eleven thousand, seven hundred and fifty five (70,311,755) Common Shares, subject to adjustment as provided herein.

 

    3 

     

    

 

		2.	EXERCISE
                                            PRICE; EXERCISE OF WARRANT AND EXPIRATION OF WARRANT.

 

2.1. Exercise
Price. Subject to the terms of this Warrant, including all of the adjustment provisions hereof, the Holder hereof shall be entitled
upon exercise of this Warrant to purchase all or any portion of the Warrant Shares upon exercise the Warrant made on or prior to the
date of exercise hereof, at the Exercise Price then in effect.

 

2.2. Exercise
of Warrant. This Warrant shall be exercisable in whole or in part from time to time on any Business Day (each, an “Exercise
Date”) beginning on November 5, 2020 and ending on the Expiration Date (the “Exercise Period”), in the manner
provided for herein.

 

2.3. Expiration
of Warrants. This Warrant shall expire and the rights of the Holder of this Warrant to purchase Warrant Shares shall terminate at
the close of business on November 5, 2025 (the “Expiration Date”).

 

2.4. Method
of Exercise; Payment of Exercise Price. In order to exercise this Warrant, the Holder hereof must surrender this Warrant to the Company,
with the form on the reverse of or attached to this Warrant duly executed. With respect to payment of the Exercise Price, the Holder
shall have two options:

 

(1) having
the Company withhold, from the total number of Warrant Shares that would otherwise be delivered to the Holder upon such exercise at the
Exercise Price, that lower number of Warrant Shares issuable upon exercise of this Warrant with an aggregate Fair Market Value as of
the last Business Day prior to such exercise equal to the in-the-money value of such Warrant Shares based upon the Exercise Price then
in effect (a "Cashless Exercise"), or

 

(2) payment
in full of the Exercise Price then in effect for the number of Warrant Shares as to which this Warrant is submitted for exercise.

 

To
the Extent that the Holder shall elect to exercise this Warrant through a Cashless Exercise, the Holder shall be entitled to receive
a certificate for the number of Warrant Shares equal to the quotient obtained by dividing the product of (A-B) and (X) by (A), where:

 

(A)=
the closing price of the Common Shares on the Trading Day immediately preceding the date on which Holder elects to exercise this Warrant
by means of a "cashless exercise," as set forth in the

 

applicable
Notice of Exercise;

 

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

 

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

 

    4 

     

    

 

To
the extent there is a difference in the currency of the closing price of the Common Shares and the Exercise Price, herein, the closing
price of the Common Shares shall be converted into CDN using the Daily Exchange Rate of the Bank of Canada on the day prior to the applicable
Trading Day.

 

Any
such payment of the Exercise Price pursuant to clause (2) above shall be payable in cash or other same-day funds. Upon the surrender
of this Warrant following one or more partial exercises, unless this Warrant has expired, a new Warrant of the same tenor representing
the number of shares of Warrant Shares, if any, with respect to which this Warrant shall not then have been exercised, shall promptly
be issued and delivered to the Holder.

 

Upon
surrender of this Warrant in conformity with the foregoing provisions, the Company shall instruct its transfer agent to transfer to the
Holder of such Warrant appropriate evidence of ownership of any shares of Warrant Shares or other securities or property (including any
money) to which the Holder is entitled, registered or otherwise placed in, or payable to the order of, such name or names as may be directed
in writing by the Holder, and shall deliver such evidence of ownership and any other securities or property (including any money) to
the Person or Persons entitled to receive the same, together with an amount in cash in lieu of any fraction of a share as provided in
Section 4.7. Upon payment of the Exercise Price therefor, a Holder shall be deemed to own and have all of the rights associated with
any Warrant Shares or other securities or property (including money) to which it is entitled pursuant to this Warrant upon the surrender
of this Warrant in accordance herewith. If the Holder shall direct that such securities be registered in a name other than that of the
Holder, such direction shall be tendered in conjunction with a signature guarantee from an eligible guarantor institution participating
in a signature guarantee program approved by the Securities Transfer Association, and any other reasonable evidence of authority that
may be required by the Company.

 

2.5. Compliance
with the Securities Laws.

 

(a) This
Warrant may not be exercised (and the Company shall be under no obligation to process any exercise), and no Warrant Shares may be sold,
transferred pledged, hypothecated, or otherwise disposed of (any such sale, transfer or other disposition, a “Transfer”),
except in compliance with this Section 2.5.

 

(b) A
Holder may exercise this Warrant and may Transfer this Warrant or any and all of his or its Warrant Shares to either (i) a transferee
that is an “accredited investor” or a “qualified institutional buyer,” as such terms are defined in applicable
Canadian securities laws, Regulation D and Rule 144A under the Securities Act, respectively, or (ii) any transferee, if the Warrant Shares
have been registered for resale under the Securities Act and qualified or exempt for sale under applicable Canadian securities laws.

 

    5 

     

    

 

(c) In
addition to the foregoing, a Holder may exercise this Warrant and may Transfer this Warrant or his or its Warrant Shares in accordance
with Regulation S under the Securities Act or in any transaction that is registered under the Securities Act.

 

		3.	LEGENDS,
                                            REGISTRATION AND BOARD RIGHTS.

 

3.1. Legends.
Subject to Section 3.2, each certificate, instrument, or book entry representing (i) the Class A Common Shares, (ii) the Registrable
Securities, and (iii) any other securities issued in respect of the securities referenced in clauses (i) and (ii), upon any share split,
share dividend, recapitalization, merger, consolidation, or similar event, shall (unless otherwise permitted by the provisions of Section
4) be notated with a legend, and no other legend, substantially in the following form:

 

THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE
“U.S. Securities Act”) OR ANY APPLICABLE STATE SECURITIES LAWS. THE HOLDER HEREOF, BY PURCHASING SUCH SECURITIES, AGREES
FOR THE BENEFIT OF THE CORPORATION THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, DIRECTLY OR INDIRECTLY,
ONLY (A) TO THE CORPORATION, (B) OUTSIDE THE UNITED STATES IN COMPLIANCE WITH RULE 904 OF REGULATION S UNDER THE U.S. Securities Act
AND IN COMPLIANCE WITH LOCAL LAWS AND REGULATIONS, (C) IN COMPLIANCE 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 OR “BLUE SKY” LAWS,
OR (D) IN A TRANSACTION THAT DOES NOT REQUIRE REGISTRATION UNDER THE U.S. Securities Act OR ANY APPLICABLE STATE SECURITIES LAWS, AND,
IN THE CASE OF SUBPARAGRAPH (C) OR (D), THE SELLER FURNISHES TO THE CORPORATION AN OPINION OF COUNSEL OF RECOGNIZED STANDING OR SUCH
OTHER EVIDENCE AS THE CORPORATION MAY REQUIRE IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE CORPORATION TO SUCH EFFECT. DELIVERY
OF THIS CERTIFICATE MAY NOT CONSTITUTE “GOOD DELIVERY” IN SETTLEMENT OF TRANSACTIONS ON STOCK EXCHANGES IN CANADA.

 

3.2. Registration.
If at any time the Company registers or intends to register under the Securities Act, or qualify for distribution in Canada under applicable
Canadian securities laws, any Common Shares, Rights to Purchase Securities or any other securities convertible, exchangeable or exercisable
for Common Shares or other Voting Securities on a registration statement under the Securities Act or a prospectus under applicable Canadian
securities laws, or grants any demand or piggyback registration rights to any other holder of Common Shares, Rights to Purchase Securities
or any other securities convertible, exchangeable or exercisable for Common Shares or shares of Voting Securities, the Company shall
offer to the Holder of this Warrant to register the Warrant Shares of such Holder on no less favorable terms and conditions and/or enter
into an agreement on customary terms and conditions with the Holder of this Warrant granting to such Holder pari passu registration
rights with respect to the Registrable Securities of such Holder, as applicable. Notwithstanding the foregoing, the provisions of this
Section 3.1 shall not apply to an initial public offering of Common Shares or other securities of the Company, unless that Company shall
also register for resale in such initial public offering Common Shares owned by other shareholders.

 

    6 

     

    

 

3.3. Board
Rights. For so long as any of the Warrants are outstanding or that Origo or any other initial Holder of Warrants owns ten percent
(10%) or more of the outstanding Common Shares, Origo shall have the right to appoint 40% of the members of the board of directors of
the Company.

 

		4.	ADJUSTMENTS.

 

4.1. Adjustments
upon Certain Transactions.

 

(a) The
Exercise Price and the number of Warrant Shares issuable upon exercise of this Warrant shall be adjusted in the event the Company (i)
pays a dividend or makes any other distribution with respect to any of its Common Shares solely in Common Shares, (ii) subdivides its
outstanding Common Shares, or (iii) combines its outstanding Common Shares into a smaller number of shares. In such event, the number
of Warrant Shares issuable upon exercise of this Warrant immediately prior to the record date of such dividend or distribution or the
effective date of such subdivision or combination (the “Effective Exercise Date”) shall be adjusted so that the Holder
of this Warrant shall thereafter be entitled to receive the number of Warrant Shares that such Holder would have owned or have been entitled
to receive after the happening of any of the events described above, had the Warrant been exercised immediately prior to the happening
of such event or any record date with respect hereto.

 

In
addition, upon an adjustment pursuant to this Section 4.1, the Exercise Price for each of the Warrant Shares payable upon exercise of
this Warrant shall be adjusted (without rounding) so that it shall equal the product of the Exercise Price immediately prior to such
adjustment multiplied by a fraction, the numerator of which shall be the number of Warrant Shares issuable upon the exercise of this
Warrant immediately prior to such adjustment, and the denominator of which shall be the number of Warrant Shares so issuable immediately
thereafter. Such adjustment shall become effective immediately after the Effective Exercise Date of such event retroactive to the record
date, if any, for such event.

 

(b) For
avoidance of doubt, the adjustment contemplated by this section can be expressed by formula as follows:

 

Ub
= Warrant Shares underlying this Warrant before the adjustment

 

Ua
= Warrant Shares underlying this Warrant after the adjustment

 

Pb
= exercise price per share before the adjustment

 

Pa
= exercise price per share after the adjustment

 

Ob
= shares outstanding before the transaction in question

 

Oa
= shares outstanding after the transaction in question

 

Ua
= Ub x Oa / Ob

 

Pa
= Pb x Ob / Oa

 

    7 

     

    

 

4.2. Dividends
and Distributions.

 

(a) If
the Company shall fix a record date for the payment of a dividend or the making of a distribution with respect to any of its Common Shares,
(other than one covered by Section 4.1), then the Exercise Price to be in effect after the record date for such dividend or distribution
shall be determined (without rounding) by multiplying (x) the Exercise Price in effect immediately prior to such record date by (y) a
fraction, the numerator of which shall be the Fair Market Value per share of Common Shares as of the last Business Day (or, if the Common
Shares is then traded on a Recognized Securities Market, the last trading day) before the ex-date less the Fair Market Value of the cash,
securities (excluding Common Shares that is the same class of securities for which this Warrant would be exercisable immediately after
such distribution or dividend taking into account the adjustments pursuant to this Article 4) or other property paid per share in such
dividend or distribution, and the denominator of which shall be the Fair Market Value per share of Common Shares as of the last Business
Day (or, if the Common Shares is then traded on a Recognized Securities Market, the last trading day) before the ex-date. Upon any adjustment
of the Exercise Price pursuant to Section 4.2(a), the total number of Common Shares purchasable upon the exercise of this Warrant shall
be such number of shares (calculated to the nearest thousandth) purchasable immediately prior to such adjustment multiplied by a fraction,
the numerator of which shall be the Exercise Price in effect immediately before such adjustment and the denominator of which shall be
the Exercise Price in effect immediately after such adjustment.

 

(b) For
avoidance of doubt, the adjustment contemplated by Section 4.2(a)(2) can be expressed by formula as follows:

 

Ub
= Warrant Shares underlying this Warrant before the adjustment

 

Ua
= Warrant Shares underlying this Warrant after the adjustment

 

Pb
= exercise price per share before the adjustment

 

Pa
= exercise price per share after the adjustment

 

M
= Fair Market Value per share of Common Shares as of the last Business Day (or, if applicable, trading day) before ex-date

 

D
= Fair Market Value of the dividend or distribution made per share of Common Shares

 

Ua
= Ub x M / (M - D)

 

Pa
= Pb x (M - D) / M

 

    8 

     

    

 

4.3. Tender
Offers. If a publicly-announced tender offer or issuer bid made by the Company or any of its subsidiaries for all or any portion
of the Common Shares shall expire and tendering holders of Common Shares are paid aggregate consideration having a Fair Market Value
when paid which exceeds the aggregate Fair Market Value of the Common Shares acquired in such tender offer as of the last Business Day,
or, if applicable, trading day before the date on which such tender offer is first publicly announced (such excess, the “Excess
Tender Amount”), then the Exercise Price to be in effect after the tender offer expires shall be determined (without rounding)
by multiplying (x) the Exercise Price in effect immediately prior to such adjustment by (y) a fraction, the numerator of which shall
be the Fair Market Value per share of the Common Shares as of the last trading day before the date on which such tender offer is first
publicly announced less the Premium Per Pro Forma Share, and the denominator of which shall be the Fair Market Value per share of Common
Shares as of the last Business Day, or, if applicable, trading day before the date on which such tender offer is first publicly announced.
As used herein, “Premium Per Pro Forma Share” means (x) the Excess Tender Amount divided by (y) the number of Common Shares
outstanding at expiration of the tender offer after giving pro forma effect to the purchase of shares in the tender offer. Upon any adjustment
of the Exercise Price pursuant to this Section 4.3, the total number of Warrant Shares purchasable upon the exercise of this Warrant
shall be such number of Warrant Shares (calculated to the nearest thousandth) purchasable immediately prior to such adjustment multiplied
by a fraction, the numerator of which shall be the Exercise Price in effect immediately before such adjustment and the denominator of
which shall be the Exercise Price in effect immediately after such adjustment. For avoidance of doubt, the adjustment contemplated by
this section can be expressed by formula as follows:

 

Ub
= Warrant Shares underlying this Warrant before the adjustment

 

Ua
= Warrant Shares underlying this Warrant after the adjustment

 

Pb
= exercise price per share before the adjustment

 

Pa
= exercise price per share after the adjustment

 

M
= Fair Market Value per share of Common Shares as of the last Business Day (or, if applicable, trading day) before the tender offer is
announced

 

E
= Excess Tender Amount (the aggregate premium paid in the tender offer)

 

Pr
= Premium Per Pro Forma Share Oa = Shares outstanding after giving effect to tender offer

 

Pr
= E / Oa

 

Ua
= Ub x M / (M - Pr)

 

Pa
= Pb x (M - Pr) / M

 

    9 

     

    

 

4.4. Consolidation,
Merger or Sale. If any consolidation, merger, amalgamation, arrangement or similar extraordinary transaction of the Company with
another entity, or the sale of all or substantially all of its assets, or any recapitalization or reclassification of the Common Shares,
shall be effected (a “Reorganization Event”), and in connection with such Reorganization Event, the Warrant Shares
shall be converted into or exchanged for or become the right to receive cash, securities or other property, then, as a condition of such
Reorganization Event, lawful and adequate provisions shall be made by the Company whereby the Holder of this Warrant shall thereafter
have the right to purchase and receive on exercise of this Warrant, for an aggregate price equal to the aggregate Exercise Price for
all of the Warrant Shares underlying this Warrant as in effect immediately before such transaction (subject to adjustment thereafter
as contemplated by the succeeding sentence), the same kind and amount of cash, securities or other property as it would have had the
right to receive if it had exercised this Warrant immediately before such transaction and been entitled to participate therein. In the
event of any such Reorganization Event, the Company shall make appropriate provision to ensure that applicable provisions of this Warrant
(including, without limitation, the provisions of this Article 4) shall thereafter be binding on the other party to such transaction
(or the successor in such transaction) and applicable to any securities thereafter deliverable upon the exercise of this Warrant. The
Company will not effect any such Reorganization Event unless, prior to the consummation thereof, the successor entity (if other than
the Company) resulting from such Reorganization Event or the entity purchasing such assets shall assume by written instrument reasonably
satisfactory in form and substance to the Holder of this Warrant, executed and mailed or delivered to the Holder at the last address
of such Holder appearing on the books of the Company, the obligation to deliver the cash, securities or property deliverable upon exercise
of this Warrant. The Company shall notify the Holder of this Warrant of any such proposed Reorganization Event reasonably prior to the
consummation thereof so as to provide such Holder with a reasonable opportunity prior to such consummation to exercise this Warrant in
accordance with the terms and conditions hereof; provided, however, that in the case of a transaction which requires notice to be given
to the holders of Common Shares of the Company, the Holder of this Warrant shall be provided the same notice given to the holders of
other Common Shares of the Company.

 

4.5. Full-Ratchet
Adjustment for Lower Revaluations. In the case of (a) any issuance of Common Shares, rights or options to acquire Common Shares or
securities convertible or exchangeable into, or exercisable for Common Shares (other than Common Shares underlying rights or options
to acquire Common Shares or securities convertible or exchangeable into Common Shares, in each case that are issued and outstanding on
the date hereof or that are issued to directors, officers or employees of the Company pursuant to the terms of a stock option plan that
is in existence as of the date hereof), or (b) the amendment to or change in the exercise, conversion or exchange price of such securities,
in each case for an Effective Issuance Price that is lower than the Exercise Price (in each case, other than issuances, amendments or
changes covered by Section 4.1, 4.2, 4.3 or 4.4), the Exercise Price for this Warrant shall be further reduced to an amount equal to
the Effective Issuance Price.

 

As
used herein, the “Effective Issuance Price” shall be:

 

(i) with
respect to Common Shares issued for cash the per share amount of the net cash proceeds received by the Company for such Common Shares;

 

(ii) with
respect to Common Shares issued for other consideration, the Fair Market Value of the net consideration calculated on a per share basis;

 

    10 

     

    

 

(iii) with
respect to any option, warrant or other right to acquire Common Shares, whether direct or indirect and whether or not conditional or
contingent, the sum of (a) the Fair Market Value of the aggregate consideration, if any, received by the Company for the issuance of
such option, warrant or right divided by the number of Common Shares into which such option, warrant or right is exercisable at time
of issuance, plus (b) the per share amount of the exercise price to the extent paid in cash and per share Fair Market Value of the exercise
price if paid in other consideration; and

 

(iv) with
respect to securities convertible or exchangeable into Common Shares, the net consideration per security paid for such securities (to
the extent paid in cash) or the net Fair Market Value of the consideration per security paid for such securities if the price for such
securities is paid in other consideration, as of the date of their issuance divided by the number of Common Shares for which such securities
are convertible or exchangeable.

 

For
the avoidance of doubt, the Exercise Price of this Warrant shall in no event be increased pursuant to this Section 4.5.

 

4.6. Fractional
Shares. No fractional shares shall be issued upon exercise of this Warrant. Instead, the Company shall pay to the Holder, in lieu
of issuing any fractional share, a sum in cash equal to such fraction multiplied by the Fair Market Value of a share of Common Shares,
as determined by the Company’s Chief Executive Officer, Chief Financial Officer or Board, on the Business Day or, if applicable,
trading day immediately prior to the date of exercise.

 

4.7. Notice
of Adjustment. Prior to the consummation of any transaction, action or other event that would trigger an adjustment (or right to
adjustment) under this Section 4, the Company shall mail to the Holder by first class mail, postage prepaid, no later than ten (10) Business
Days prior to such consummation notice of such transaction, action or other event, along with reasonable details with respect thereto.
Whenever the number of Common Shares or other stock or property issuable upon the exercise of this Warrant or the Exercise Price is adjusted,
as herein provided, the Company shall promptly mail by first class mail, postage prepaid, to the Holder notice of such adjustment or
adjustments and shall deliver a certificate of a firm of independent public accountants selected by the Board (who may be the regular
accountants employed by the Company) setting forth the number of Common Shares or other stock or property issuable upon the exercise
of this Warrant and the Exercise Price after such adjustment, setting forth a brief statement of the facts requiring such adjustment
and setting forth the computation by which such adjustment was made.

 

		5.	WARRANT
                                            TRANSFER BOOKS.

 

The
Company shall cause to be kept at its principal office a register in which, subject to such reasonable regulations as it may prescribe,
the Company shall provide for the registration of this Warrant Certificate and of transfers or exchanges of this Warrant Certificate
as herein provided.

 

At
the option of the Holder, this Warrant Certificate may be exchanged at such office, and upon payment of the charges hereinafter provided.
Whenever this Warrant Certificate is so surrendered for exchange, the Company shall execute and deliver the Warrant Certificates that
the Holder making the exchange is entitled to receive.

 

    11 

     

    

 

All
Warrant Certificates issued upon any registration of transfer or exchange of this Warrant Certificate shall be the valid obligations
of the Company, evidencing the same obligations, and entitled to the same benefits, as the Warrant Certificate surrendered for such registration
of transfer or exchange.

 

If
this Warrant Certificate is surrendered for registration of transfer or exchange it shall (if so required by the Company) be duly endorsed,
or be accompanied by a written instrument of transfer in form satisfactory to the Company, duly executed by the Holder hereof or his
attorney duly authorized in writing.

 

No
service charge shall be made to the Holder for any registration of transfer or exchange of this Warrant Certificate. The Company may
require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration
of transfer or exchange of this Warrant Certificate.

 

The
Warrant Certificate when duly endorsed in blank shall be deemed negotiable and when this Warrant Certificate shall have been so endorsed,
the Holder hereof may be treated by the Company and all other persons dealing therewith as the absolute owner hereof for any purpose
and as the Person entitled to exercise the rights represented hereby, or to the transfer hereof on the register of the Company, any notice
to the contrary notwithstanding; but until such transfer on such register, the Company shall treat the registered Holder hereof as the
owner for all purposes. No such transfer shall be registered until the Company has been supplied with the aforementioned instruments
of transfer and any other such documentation as the Company may reasonably require.

 

		6.	WARRANT
                                            HOLDER.

 

6.1. Right
of Action. All rights of action in respect of this Warrant are vested in the Holder hereof, and the Holder, without the consent of
the Company, may, on such Holder’s own behalf and for such Holder’s own benefit, enforce, and may institute and maintain
any suit, action or proceeding against the Company suitable to enforce, or otherwise in respect of, such Holder’s right to exercise
or exchange this Warrant in the manner provided herein or any other obligation of the Company under this Warrant.

 

		7.	REPRESENTATIONS
                                            AND COVENANTS.

 

7.1. Reservation
of Common Shares for Issuance on Exercise of Warrant. The Company covenants that it will at all times reserve and keep available,
free from pre-emptive rights, out of its authorized but unissued Common Shares, solely for the purpose of issue upon exercise of this
Warrant as herein provided, such number of Common Shares as shall then be issuable upon the exercise of all Warrant Shares issuable hereunder
plus such number of Common Shares as shall then be issuable upon the exercise of other outstanding warrants, options and rights (whether
or not vested), the settlement of any forward sale, swap or other derivative contract, and the conversion of all outstanding convertible
securities or other instruments convertible into Common Shares or rights to acquire Common Shares. The Company covenants that all Warrant
Shares and other Common Shares which shall be issuable shall, upon such issue, be duly and validly issued and fully paid and non-assessable.

 

    12 

     

    

 

7.2. Notice
of Dividends. At any time when the Company declares any dividend on its Common Shares, it shall give notice to the Holder of this
Warrant of any such declaration not less than 15 days prior to the related record date for payment of the dividend so declared.

 

7.3. Capitalization.
The Company represents and warrants to the Holder that as of the date hereof, the Company has 83,130,498 Common Shares outstanding
and on a fully diluted basis, before giving effect to this Warrant or the Common Shares issuable on conversion of the Line of Credit
Note, the Company has 89,787,688 Common Shares on a fully diluted basis. To the extent that this representation is not true as of the
date hereof and there are more Common Shares outstanding then set out above (actual or on a diluted basis), the number of Warrant Shares
shall be increased such that the Warrant would exercise into 44% of the Common Shares on a diluted as were then outstanding as of the
date hereof. For greater certainty, should there be fewer Common Shares outstanding than as set out in this representation, no adjustment
shall be made to the number of Warrant Shares issuable on exercise of the Warrant.

 

		8.	MISCELLANEOUS.

 

8.1. Payment
of Taxes. The Company shall pay all transfer, stamp and other similar taxes that may be imposed in respect of the issuance or delivery
of this Warrant or in respect of the issuance or delivery by the Company of any securities upon exercise of this Warrant with respect
thereto. The Company shall not be required, however, to pay any tax or other charge imposed in connection with any transfer involved
in the issue of any certificate for Common Shares or other securities underlying this Warrant or payment of cash to any Person other
than the Holder of this Warrant Certificate surrendered upon the exercise or purchase of this Warrant, and in case of such transfer or
payment, the Company shall not be required to issue any stock certificate to pay any cash until such tax or charge has been paid or it
has been established to the Company’s satisfaction that no such tax or other charge is due. The Company and the Holder agree that
the issuance and exercise of this Warrant is a capital transaction and not a compensatory transaction, and any Holder who is not a U.S.
person for U.S. federal income tax purposes hereby represents that the Warrant Shares would, if owned by such Holder, be capital assets
in its hands for U.S. Federal income tax purposes.

 

8.2. Surrender
of Certificates. Any Warrant Certificate surrendered for exercise or purchase shall, if surrendered to the Company, be promptly cancelled
and destroyed and shall not be reissued by the Company.

 

8.3. Mutilated,
Destroyed, Lost and Stolen Warrant Certificates. If (a) a mutilated Warrant Certificate is surrendered to the Company or (b) the
Company receives evidence to its satisfaction of the destruction, loss or theft of the Warrant Certificate, and there is delivered to
the Company such appropriate affidavit of loss, applicable processing fee and a corporate bond of indemnity as may be required by it
to save it harmless, then, in the absence of notice to the Company that the Warrant Certificate has been acquired by a bona fide purchaser,
the Company shall execute and deliver, in exchange for such mutilated Warrant Certificate or in lieu of such destroyed, lost or stolen
Warrant Certificate, a new Warrant Certificate of like tenor and for a like aggregate number of shares of Warrant Shares, if any, with
respect to which this Warrant shall not then have been exercised.

 

    13 

     

    

 

Upon
the issuance of any new Warrant Certificate under this Section 8.3, the Company may require the payment of a sum sufficient to cover
any tax or other governmental charge that may be imposed in relation thereto and other expenses in connection therewith.

 

Any
new Warrant Certificate executed and delivered pursuant to this Section 8.3 in lieu of a destroyed, lost or stolen Warrant Certificate
shall constitute an original contractual obligation of the Company, whether or not the destroyed, lost or stolen Warrant Certificate
shall be at any time enforceable by anyone, and shall be subject to the same terms as this Warrant.

 

The
provisions of this Section 8.3 are exclusive and shall preclude (to the extent lawful) all other rights or remedies with respect to the
replacement of a mutilated, destroyed lost, or stolen Warrant Certificate.

 

8.4. Notices.
Any notice, demand or delivery authorized by this Warrant shall be sufficiently given or made when mailed if sent by first-class mail,
postage prepaid, addressed to the Holder of this Warrant at such Holder’s address shown on the register of the Company and to the
Company at its principal address, addressed to the Secretary of the Company, in each case or such other address as shall have been furnished
to the party giving or making such notice, demand or delivery.

 

8.5. Applicable
Law. This Warrant and all rights arising hereunder shall be governed by the laws of British Columbia and the federal laws of Canada
applicable therein.

 

8.6. Amendments.
This Warrant may only be amended with the prior written consent of the Holder and the Company.

 

8.7. Headings.
The descriptive headings of the several Articles and Sections of this Warrant are inserted for convenience and shall not control or affect
the meaning or construction of any of the provisions hereof.

 

    14 

     

    

 

IN
WITNESS WHEREOF, this Warrant has been duly executed and delivered by the Company, by order of its Board of Directors, this 5th
day of November, 2020.

 

	 	HOLLYWEED NORTH CANNABIS INC.
	 	 
	 	By:	/s/ Renee Gagnon
	 	Name:	Renee Gagnon
	 	Title:	President & Director

 

	ACCEPTED AND AGREED TO:
	 
	ORIGO HOLDINGS, INC.
	 
	By:	/s/ Israel Maxx Abramowitz	 
	 	Israel Maxx Abramowitz, President	 

 

    15 

     

    

 

EXHIBIT
A

FORM OF EXERCISE

(To be executed upon exercise of Warrant.)

 

The
undersigned hereby irrevocably elects to exercise the Warrant represented by this Warrant Certificate, to purchase _______ Common Shares,
in the form of Common Shares (“Warrant Shares”), of HollyWeed North Cannabis Inc. in accordance with the Warrant Certificate,
and in accordance with the terms set forth below.

 

By
checking the appropriate paragraph election, the undersigned hereby exercises the Warrant, as follows:.

 

______[check
if applicable] Having the Company withhold, from the total number of Common Shares that would otherwise be delivered to the undersigned
upon such exercise, that lower number of Common Shares issuable upon exercise of this Warrant with an aggregate Fair Market Value as
of the last Business Day prior to such exercise equal to a purchase price for such Common Shares that would otherwise be payable by the
undersigned upon such exercise based upon the Exercise Price then in effect (a “Cashless Exercise”), or

 

______[check
if applicable] By) by payment in full of the Exercise Price then in effect for the shares of Warrant Shares as to which this Warrant
is submitted for exercise, payable in cash or other same-day funds.

 

The
undersigned requests that said Warrant Shares be registered in such names and delivered, all as specified in accordance with the instructions
set forth below.

 

If
said number of Warrant Shares is less than all of the shares of Warrant Shares purchasable hereunder, the undersigned requests that a
new Warrant Certificate representing the remaining balance of the Warrants evidenced hereby be issued and delivered to the undersigned
unless otherwise specified in the instructions below.

 

    A-1

     

    

 

	Dated:	 	 	Name:	
	 	 	 	(Please Print)
	 	 	 
	(Insert Social Security or Other Identifying Number of Holder)	 	 
	 	 	 
	 	 	Address:	 
	 	 	 
	 	 	 
	 	 	 
	 	 	Signature (Signature must conform in all respects to name of holder as specified on the face of the Warrant Certificate and must be guaranteed by a bank, stockbroker, savings and loan association or credit union meeting the requirements of the Warrant Holder.

 

 

    A-2 

     

    

 

EXHIBIT
B

FORM OF ASSIGNMENT

 

FOR
VALUE RECEIVED the undersigned registered holder of the within Warrant Certificate hereby sells, assigns, and transfers unto the Assignee(s)
named below all of the right of the undersigned under the within Warrant Certificate, with respect to the number of Warrants set forth
below:

 

	 

    Names
    of Assignees
	 	Address	 	Social
    Security or other Identifying Number of Assignee(s)	 	Number
    of Shares Represented by the Portion of this Warrant to be Assigned
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

And
does hereby irrevocably constitute and appoint ______ the undersigned's attorney to make such transfer on the books of _____________
maintained for that purpose, with full power of substitution in he premises.

 

	
     Date:
	  	 	 
	 	 
	 	(Signature of Owner)
	 	 
	 	 
	 	(Street Address)
	 	 
	 	 
	 	(City)(State)(Zip Code)
	 	 
	 	 
	 	Signature Guaranteed By:
	 
	 	 

 

		*	The
                                            signature must correspond with the name as written upon the face of the within Warrant Certificate
                                            in every particular, without alteration or enlargement or any change whatever, and must be
                                            guaranteed by a financial institution satisfactory to the Company.

 

 

    B-1

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