Document:

Exhibit
10.1

 

PROMISSORY
NOTE PURCHASE AGREEMENT

 

THIS
PROMISSORY NOTE PURCHASE AGREEMENT (this “Agreement”) is entered into as of March 2, 2020 (the “Execution
Date”), by and among Bridgeway National Corp., a Delaware corporation (the “Company”), SBI Investments
LLC, 2014-1, a statutory series of a Delaware limited liability company (“SBI”), and the other parties hereto
identified as “Purchasers” (collectively with SBI, the “Purchasers,” and each, a “Purchaser”)
on the schedule of purchasers attached hereto (the “Schedule of Purchasers”).

 

RECITALS

 

WHEREAS,
the Company and the Purchasers are executing and delivering this Agreement in reliance upon an exemption from securities registration
afforded by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the “SEC”)
under the Securities Act of 1933, as amended (the “Securities Act”); and

 

WHEREAS,
the Purchasers desire to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement
(i) 12% convertible promissory notes of the Company, in the form attached hereto as Exhibit A, in an aggregate principal
amount of up to US$845,000.00 in such individual amounts to each Purchaser as set forth on the Schedule of Purchasers (together
with any note(s) issued in replacement thereof or as a dividend thereon or otherwise with respect thereto in accordance with the
terms thereof, the “Notes”, and each, a “Note”), convertible into shares (the “Conversion
Shares”) of Common Stock pursuant to the terms of the Notes; and (ii) warrants to acquire up to that number of shares
(the “Warrant Shares”) of Common Stock as set forth on the Schedule of Purchasers in the form attached
hereto as Exhibit B (the “Warrants”), upon the terms and subject to the limitations and conditions set
forth in the Warrants.

 

NOW,
THEREFORE, in consideration of the mutual covenants contained in this Agreement, and for other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the Company and each Purchaser hereby agree as follows:

 

Article
I

CERTAIN
DEFINITIONS

 

Section
1.1 RECITALS. The parties acknowledge and agree that the recitals set forth above are true and correct and are hereby incorporated
in and made a part of this Agreement.

 

Section
1.2 DEFINED TERMS. As used in this Agreement, the following terms shall have the following meanings specified or indicated
(such meanings to be equally applicable to both the singular and plural forms of the terms defined):

 

“Agreement”
shall have the meaning specified in the preamble hereof.

 

“Closing”
shall have the meaning specified in Section 2.3.

 

“Closing
Date” shall have the meaning specified in Section 2.3

 

“Common
Stock” shall mean the Company’s Class A common stock, $0.01 par value per share, and any shares of any other class
of common stock whether now or hereafter authorized, having the right to participate in the distribution of dividends (as and
when declared) and assets (upon liquidation of the Company).

 

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“Company”
shall have the meaning specified in the preamble to this Agreement.

 

“Confidential
Information” means any information disclosed by any party to this Agreement to the another party to this Agreement,
either directly or indirectly, in writing, orally or by inspection of tangible objects (including, without limitation, documents,
formulae, business information, trade secrets, technology, strategies, prototypes, samples, plant and equipment), whether or not
designated as “Confidential,” “Proprietary” or some similar designation. Confidential Information may
also include information disclosed by third parties. Confidential Information shall not, however, include any information which
(i) was publicly known and made generally available in the public domain prior to the time of disclosure by the disclosing party;
(ii) becomes publicly known and made generally available after disclosure by the disclosing party to the receiving party through
no action or inaction of the receiving party; (iii) is already in the possession of the receiving party at the time of disclosure
by the disclosing party as shown by the receiving party’s files and records immediately prior to the time of disclosure;
(iv) is obtained by the receiving party from a third party without a breach of such third party’s obligations of confidentiality;
(v) is independently developed by the receiving party without use of or reference to the disclosing party’s Confidential
Information, as shown by documents and other competent evidence in the receiving party’s possession; or (vi) is required
by law to be disclosed by the receiving party, provided that the receiving party gives the disclosing party prompt written notice
of such requirement prior to such disclosure and reasonable assistance in obtaining an order protecting the information from public
disclosure.

 

“Current
Report” shall have the meaning set forth in Section 5.2.

 

“Damages”
shall mean any loss, claim, damage, liability, cost and expense (including, without limitation, reasonable attorneys’ fees
and disbursements and costs and expenses of expert witnesses and investigation).

 

“Disqualification
Event” shall have the meaning specified in Section 4.23.

 

“Environmental
Laws” shall have the meaning set forth in Section 4.12.

 

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

 

“Execution
Date” shall have the meaning set forth in the preamble to this Agreement.

 

“FINRA”
shall mean the Financial Industry Regulatory Authority, Inc.

 

“Indemnified
Party” shall have the meaning specified in Section 7.2.

 

“Indemnifying
Party” shall have the meaning specified in Section 7.2.

 

“Issuer
Covered Person” shall have the meaning specified in Section 4.23.

 

“Lien”
means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or any other restriction.

 

“Material
Adverse Effect” shall mean any effect on the business, operations, properties, or financial condition of the Company
and/or the Subsidiaries that is material and adverse to the Company and/or the Subsidiaries and/or any condition, circumstance,
or situation that prohibit or otherwise materially interfere with the ability of the Company and/or the Subsidiaries to enter
into and/or perform its obligations under any Transaction Document.

 

    	-2-

    	 

    

 

“Note”
shall have the meaning set forth in the Recitals.

 

“Person”
shall mean an individual, a corporation, a partnership, an association, a trust or other entity or organization, including a government
or political subdivision or an agency or instrumentality thereof.

 

“Principal
Market” shall mean any of the national exchanges (i.e. NYSE, NYSE AMEX, NASDAQ), or principal quotation systems (i.e.
OTCQX, OTCQB, OTC Pink, the OTC Bulletin Board), or other principal exchange or recognized quotation system which is at the time
the principal trading platform or market for the Common Stock.

 

“Purchaser”
shall have the meaning specified in the preamble to this Agreement.

 

“Regulation
D” shall mean Regulation D promulgated under the Securities Act.

 

“Rule
144” shall mean Rule 144 promulgated under the Securities Act or any similar provision then in force under the Securities
Act.

 

“SEC”
shall mean the United States Securities and Exchange Commission.

 

“SEC
Documents” shall have the meaning specified in Section 4.4.

 

“Securities”
shall mean the Notes, Warrants, Conversion Shares, and Warrant Shares.

 

“Securities
Act” shall mean the Securities Act of 1933, as amended.

 

“Subsidiary”
or “Subsidiaries” means any Person the Company wholly-owns or controls, or in which the Company, directly or
indirectly, owns a majority of the voting stock or similar voting interest, in each case that would be disclosable pursuant to
Item 601(b)(21) of Regulation S-K promulgated under the Securities Act.

 

“Trading
Day” shall mean a day on which the Principal Market shall be open for business.

 

“Transaction
Documents” shall mean this Agreement, the Notes, the Warrants, the TA Letters and all schedules and exhibits hereto
and thereto.

 

“Variable
Security Holder” means any holder of any securities of the Company that (A) have or may have conversion rights of any
kind, contingent, conditional or otherwise, in which the number of shares that may be issued pursuant to such conversion right
varies with the market price of the Common Stock, or (B) are or may become convertible into Common Stock (including without limitation
convertible debt, warrants or convertible preferred stock), with a conversion price that varies with the market price of the Common
Stock, even if such security only becomes convertible following an event of default, the passage of time, or another trigger event
or condition.

 

Article
II

PURCHASE
AND SALE OF NOTE

 

Section
2.1 Purchase of Note. On the Closing Date, the Company shall issue and sell to the Purchasers and the Purchasers agree
to purchase from the Company the Notes.

 

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Section
2.2 Form of Payment. On the Closing Date, each Purchaser shall pay a purchase price for its Note, for an aggregate purchase
price among all Purchasers of $750,000.00, for an aggregate face value of Notes of up to $845,000.00, as set forth on the Schedule
of Purchasers, by wire transfer of immediately available funds, in accordance with the Company’s written wiring instructions
against delivery of the Notes, subject to Section 8.7.

 

Section
2.3 Closing Date. Subject to the satisfaction (or written waiver) of the conditions thereto set forth in Article VI
below, the “Closing Date” shall be 5:00 P.M., Eastern Standard Time on or about the Execution Date, or
such other mutually agreed upon time. The closing of the transactions contemplated by this Agreement (the “Closing”)
shall occur on the Closing Date at such location as may be agreed to by the parties.

 

Article
III

REPRESENTATIONS
AND WARRANTIES OF PURCHASERS

 

Each
Purchaser, severally, represents and warrants to the Company that:

 

Section
3.1 NO LEGAL ADVICE FROM THE COMPANY. The Purchaser acknowledges that it has had the opportunity to review this Agreement
and the transactions contemplated by this Agreement with its own legal counsel and investment and tax advisors. Except with respect
to the representations, warranties and covenants contained in this Agreement, the Purchaser is relying solely on such counsel
and advisors and not on any statements or representations of the Company or any of its representatives or agents for legal, tax
or investment advice with respect to this investment, the transactions contemplated by this Agreement or the securities laws of
any jurisdiction.

 

Section
3.2 AUTHORITY. The Purchaser has the requisite power and authority to enter into and perform its obligations under this
Agreement and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement and the consummation
by it of the transactions contemplated hereby have been duly authorized by all necessary action and no further consent or authorization
of the Purchaser is required. This Agreement constitutes the valid and binding obligation of the Purchaser enforceable against
it in accordance with its terms, subject to applicable bankruptcy, insolvency, or similar laws relating to, or affecting generally
the enforcement of, creditors’ rights and remedies or by other equitable principles of general application.

 

Section
3.3 ORGANIZATION AND STANDING. The Purchaser is a duly formed entity or series thereof, validly existing and in good standing
under the laws of the jurisdiction of its formation with full right and authority to enter into and to consummate the transactions
contemplated by this Agreement and the Notes.

 

Article
IV

REPRESENTATIONS
AND WARRANTIES OF THE COMPANY

 

The
Company represents and warrants to each Purchaser that, except as set forth in the disclosure schedules hereto, as of the Execution
Date and at the Closing Date:

 

Section
4.1 ORGANIZATION OF THE COMPANY. The Company is a corporation duly incorporated, validly existing and in good standing
under the laws of the state of Delaware, with the requisite power and authority to own and use its properties and assets and to
carry on its business as currently conducted. Each of the Subsidiaries is an entity duly incorporated or otherwise organized,
validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite
power and authority to own and use its properties and assets and to carry on its business as currently conducted. Each of the
Company and the Subsidiaries is not in violation or default of any of the provisions of its respective certificate or articles
of incorporation, bylaws or other organizational or charter documents. Each of the Company and the Subsidiaries is duly qualified
to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature
of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified
or in good standing, as the case may be, could not have or reasonably be expected to result in a Material Adverse Effect and no
proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail
such power and authority or qualification.

 

    	-4-

    	 

    

 

Section
4.2 AUTHORITY/ISSUANCE. The Company has the requisite corporate power and authority to enter into and perform its obligations
under the Transaction Documents. The execution and delivery of this Agreement and the Securities by the Company and the consummation
by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary corporate action and no further
consent or authorization of the Company or its Board of Directors or stockholders is required. Each of this Agreement and each
Note and each Warrant has been duly executed and delivered by the Company and constitutes a valid and binding obligation of the
Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable
bankruptcy, insolvency, or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies
or by other equitable principles of general application. The Conversion Shares and Warrant Shares are duly authorized and fully
reserved for issuance and, upon conversion of each Note and exercise of each Warrant, in accordance with its terms, will be validly
issued, fully paid and non-assessable, and free from all taxes, Liens, claims and encumbrances with respect to the issue thereof,
with the Purchaser being entitled to all rights accorded to a holder of Common Stock.

 

Section
4.3 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 SEC is contemplating
terminating such registration. The Company has not, in the twelve (12) months preceding the Execution Date, received notice from
the Principal Market on which the Common Stock is or has been listed or quoted to the effect that the Company is not in compliance
with the listing or maintenance requirements of such Principal Market. The Company is, and has no reason to believe that it will
not in the foreseeable future continue to be, in compliance with all such listing and maintenance requirements.

 

Section
4.4 SEC DOCUMENTS; DISCLOSURE. Except as set forth on Section 4.4, the Company has filed all reports, schedules,
forms, statements and other documents required to be filed by the Company under the Securities Act and the Exchange Act, including
pursuant to Section 13(a) or 15(d) thereof, for the one (1) year preceding the Execution Date (or such shorter period as the Company
was required by law or regulation to file such material) (the foregoing materials, including the exhibits thereto and documents
incorporated by reference therein, being collectively referred to herein as the “SEC Documents”) on a timely
basis or has received a valid extension of such time of filing and has filed any such SEC Documents prior to the expiration of
any such extension. As of their respective dates, the SEC Documents complied in all material respects with the requirements of
the Securities Act and the Exchange Act, as applicable, and other federal laws, rules and regulations applicable to such SEC Documents,
and none of the SEC Documents 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 light of the circumstances under which
they were made, not misleading. The financial statements of the Company included in the SEC Documents comply as to form and substance
in all material respects with applicable accounting requirements and the published rules and regulations of the SEC or other applicable
rules and regulations with respect thereto. Such financial statements have been prepared in accordance with generally accepted
accounting principles applied on a consistent basis during the periods involved (except (a) as may be otherwise indicated in such
financial statements or the notes thereto or (b) in the case of unaudited interim statements, to the extent they may not include
footnotes or may be condensed or summary statements) and fairly present in all material respects the financial position of the
Company as of 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). The Company maintains a system of internal accounting
controls appropriate for its size. There is no transaction, arrangement, or other relationship between the Company and an unconsolidated
or other off balance sheet entity that is not disclosed by the Company in its financial statements or otherwise that would be
reasonably likely to have a Material Adverse Effect. Except with respect to the material terms and conditions of the transactions
contemplated by the Transaction Documents, the Company confirms that neither it nor any other Person acting on its behalf has
provided the Purchaser or its agents or counsel with any information that it believes constitutes or might constitute material,
non-public information. The Company understands and confirms that the Purchaser will rely on the foregoing representation in effecting
transactions in securities of the Company.

 

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Section
4.5 NO CONFLICTS. The execution, delivery and performance of this Agreement and the Note by the Company, and the consummation
by the Company of the transactions contemplated hereby and thereby, do not and will not: (a) result in a violation of the Company’s
or any Subsidiary’s certificate or articles of incorporation, by-laws or other organizational or charter documents, (b)
conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, result
in the creation of any Lien upon any of the properties or assets of the Company or any Subsidiary, or give to others any rights
of termination, amendment, acceleration or cancellation of, any agreement, indenture, instrument or any “lock-up”
or similar provision of any agreement to which the Company or any Subsidiary is a party, or (c) result in a violation of any federal,
state or local law, rule, regulation, order, judgment or decree (including federal and state securities laws and regulations)
applicable to the Company or any Subsidiary or by which any property or asset of the Company or any Subsidiary is bound or affected
(except for such conflicts, defaults, terminations, amendments, accelerations, cancellations and violations as would not, individually
or in the aggregate, have a Material Adverse Effect), nor is the Company otherwise in violation of, conflict with or in default
under any of the foregoing. The business of the Company is not being conducted in violation of any law, ordinance or regulation
of any governmental entity. The Company is not required under federal, state or local law, rule or regulation to obtain any consent,
authorization or order of, or make any filing or registration with, any court or governmental agency in order for it to execute,
deliver or perform any of its obligations under this Agreement or the Note (other than any SEC, FINRA or state securities filings
that may be required to be made by the Company subsequent to any Closing or any registration statement that may be filed pursuant
hereto).

 

Section
4.6 NO MATERIAL ADVERSE CHANGE. No event has occurred that would have a Material Adverse Effect on the Company or any Subsidiary
that has not been disclosed in subsequent SEC Documents.

 

Section
4.7 LITIGATION AND OTHER PROCEEDINGS. Except as set forth on Schedule 4.7, (i) there are no actions, suits, investigations,
inquiries or proceedings pending or, to the knowledge of the Company, threatened against or affecting the Company, any Subsidiary
or any of their respective properties, (ii) nor has the Company received any written or oral notice of any such action, suit,
proceeding, inquiry or investigation, which would have a Material Adverse Effect or would require disclosure under the Securities
Act or the Exchange Act. No judgment, order, writ, injunction or decree or award has been issued by or, to the knowledge of the
Company, requested of any court, arbitrator or governmental agency which would have a Material Adverse Effect. Except as set forth
on Schedule 4.7, there has not been, and to the knowledge of the Company, there is not pending or contemplated, any investigation
by the SEC involving the Company, any Subsidiary or any current or former director or officer of the Company or any Subsidiary.

 

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Section
4.8 REGISTRATION RIGHTS. Except as set forth on Schedule 4.8, no Person has any right to cause the Company to effect
the registration under the Securities Act of any securities of the Company or any Subsidiary.

 

Section
4.9 PURCHASER’S STATUS. The Company acknowledges and agrees that the Purchaser is acting solely in the capacity of
arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated hereby and thereby. The
Company further acknowledges that the Purchaser is not acting as a financial advisor or fiduciary of the Company (or in any similar
capacity) with respect to the Transaction Documents and the transactions contemplated hereby and thereby and any advice given
by the Purchaser or any of its representatives or agents in connection with the Transaction Documents and the transactions contemplated
hereby and thereby is merely incidental to the Purchaser’s purchase of the Note. The Company further represents to the Purchaser
that the Company’s decision to enter into the Transaction Documents has been based solely on the independent evaluation
by the Company and its representatives and advisors.

 

Section
4.10 NO GENERAL SOLICITATION; NO INTEGRATED OFFERING. Neither the Company, any Subsidiary, nor any of their respective
affiliates, nor any Person acting on their behalf, has engaged in any form of general solicitation or general advertising (within
the meaning of Regulation D under the Securities Act) in connection with the offer or sale of the Note. Neither the Company, nor
any person acting on its or their behalf, has directly or indirectly made any offers or sales in any security or solicited any
offers to buy any security under circumstances that would require registration under the Securities Act of the issuance of the
Note and/or Conversion Shares to the Purchaser. The issuance of the Note and/or Conversion Shares to the Purchaser will not be
integrated with any other issuance of the Company’s securities (past, current or future) for purposes of any shareholder
approval provisions applicable to the Company or its securities.

 

Section
4.11 INTELLECTUAL PROPERTY RIGHTS. The Company and the Subsidiaries own or possess adequate rights or licenses to use all
material trademarks, trade names, service marks, service mark registrations, service names, patents, patent rights, copyrights,
inventions, licenses, approvals, governmental authorizations, trade secrets and rights necessary to conduct their respective businesses
as now conducted. None of the Company’s, nor any Subsidiary’s material trademarks, trade names, service marks, service
mark registrations, service names, patents, patent rights, copyrights, inventions, licenses, approvals, government authorizations,
trade secrets or other intellectual property rights have expired or terminated, or, by the terms and conditions thereof, could
expire or terminate within two years from the date of this Agreement. The Company does not have any knowledge of any infringement
by the Company and/or any Subsidiary of any material trademark, trade name rights, patents, patent rights, copyrights, inventions,
licenses, service names, service marks, service mark registrations, trade secret or other similar rights of others, or of any
such development of similar or identical trade secrets or technical information by others, and there is no claim, action or proceeding
being made or brought against, or to the Company’s knowledge, being threatened against, the Company and/or any Subsidiary
regarding trademark, trade name, patents, patent rights, invention, copyright, license, service names, service marks, service
mark registrations, trade secret or other infringement, which could reasonably be expected to have a Material Adverse Effect.

 

Section
4.12 ENVIRONMENTAL LAWS. To the Company’s knowledge, the Company and each Subsidiary (i) is in compliance with any
and all applicable foreign, federal, state and local laws and regulations relating to the protection of human health and safety,
the environment or hazardous or toxic substances or wastes, pollutants or contaminants (“Environmental Laws”),
(ii) has received all permits, licenses or other approvals required of it under applicable Environmental Laws to conduct its respective
businesses and (iii) is in compliance with all terms and conditions of any such permit, license or approval, except where, in
each of the three foregoing clauses, the failure to so comply could not reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect.

 

    	-7-

    	 

    

 

Section
4.13 TITLE. Except as disclosed in the SEC Documents, the Company and each Subsidiary has good and marketable title in
fee simple to all real property owned by it and good and marketable title in all personal property owned by it that is material
to the business of the Company and each Subsidiary, in each case free and clear of all Liens and, except for Liens as do not materially
affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by
the Company or any Subsidiary and Liens for the payment of federal, state or other taxes, the payment of which is neither delinquent
nor subject to penalties. Any real property and facilities held under lease by the Company or any Subsidiary is held under valid,
subsisting and enforceable leases with which the Company is in compliance with such exceptions as are not material and do not
interfere with the use made and proposed to be made of such property and buildings by the Company or any Subsidiary.

 

Section
4.14 INSURANCE. The Company and each Subsidiary is insured by insurers of recognized financial responsibility against such
losses and risks and in such amounts as management of the Company reasonably believes to be prudent and customary in the businesses
in which the Company and each Subsidiary is engaged. Neither the Company, nor any Subsidiary has been refused any insurance coverage
sought or applied for, and the Company has no reason to believe that it or any Subsidiary will not be able to renew its existing
insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to
continue its business at a cost that would not materially and adversely affect the condition, financial or otherwise, or the earnings,
business or operations of the Company, taken as a whole.

 

Section
4.15 REGULATORY PERMITS. The Company and each Subsidiary possesses all material certificates, authorizations and permits
issued by the appropriate federal, state or foreign regulatory authorities necessary to conduct its businesses, and neither the
Company, nor any Subsidiary has received any notice of proceedings relating to the revocation or modification of any such certificate,
authorization or permit.

 

Section
4.16 TAX STATUS. The Company and each Subsidiary has made or filed all federal and state income and all other material
tax returns, reports and declarations required by any jurisdiction to which it is subject (unless and only to the extent that
the Company has set aside on its books provisions reasonably adequate for the payment of all unpaid and unreported taxes) and
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, except those being contested in good faith and has set aside on its books provision reasonably
adequate for the payment of all 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 know of no basis for any such claim.

 

Section
4.17 TRANSACTIONS WITH AFFILIATES. Except as set forth in the SEC Documents, none of the officers or directors of the Company
or any Subsidiary, and to the knowledge of the Company, none of the employees of the Company or any Subsidiary is presently a
party to any transaction with the Company or any Subsidiary (other than for services as employees, officers and directors), including
any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or
personal property to or from, or otherwise requiring payments to or from any officer, director or such employee or, to the knowledge
of the Company, any entity in which any officer, director, or any such employee has a substantial interest or is an officer, director,
trustee or partner, in each case in excess of the lesser of (i) US$120,000.00 or (ii) one percent of the average of the Company’s
total assets at year end for the last two completed fiscal years, other than for (i) payment of salary or consulting fees for
services rendered, (ii) reimbursement for expenses incurred on behalf of the Company or any Subsidiary and (iii) other employee
benefits, including stock option agreements under any stock option plan of the Company.

 

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Section
4.18 FOREIGN CORRUPT PRACTICES. None of the Company, any Subsidiary, or to the knowledge of the Company, any agent or other
Person acting on behalf of the Company or any Subsidiary, has (i) directly or indirectly, used any funds for unlawful contributions,
gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment
to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns from corporate
funds, (iii) failed to disclose fully any contribution made by the Company of any Subsidiary (or made by any Person acting on
its behalf of which the Company is aware) which is in violation of law, or (iv) violated in any material respect any provision
of the Foreign Corrupt Practices Act of 1977, as amended.

 

Section
4.19 SARBANES-OXLEY. The Company is in compliance with all provisions of the Sarbanes-Oxley Act of 2002, as amended, which
are applicable to it.

 

Section
4.20 CERTAIN FEES. No brokerage or finder’s fees or commissions are or will be payable by the Company to any broker,
financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions
contemplated by the Transaction Documents. The Purchaser shall have no obligation with respect to any fees or with respect to
any claims made by or on behalf of other Persons for fees of a type contemplated in this Section 4.20 that may be due in
connection with the transactions contemplated by the Transaction Documents.

 

Section
4.21 INVESTMENT COMPANY. The Company is not an “investment company” within the meaning of the Investment Company
Act of 1940, as amended.

 

Section
4.22 ACCOUNTANTS. The Company’s accountants are set forth in the SEC Documents and, to the knowledge of the Company,
such accountants are an independent registered public accounting firm as required by the Securities Act.

 

Section
4.23 NO DISQUALIFICATION EVENTS. None of the Company, any Subsidiary, any of their predecessors, any affiliated issuer,
any director, executive officer, other officer of the Company or any Subsidiary, any beneficial owner of 20% or more of the Company’s
outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule
405 under the Securities Act) connected with the Company in any capacity at the time of sale (each, an “Issuer Covered
Person”) is subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i) to (viii)
under the Securities Act (a “Disqualification Event”), except for a Disqualification Event covered by Rule
506(d)(2) or (d)(3) under the Securities Act. The Company has exercised reasonable care to determine whether any Issuer Covered
Person is subject to a Disqualification Event.

 

Section
4.24 MONEY LAUNDERING. The Company and each Subsidiary is in compliance with, and has not previously violated, the USA
PATRIOT ACT of 2001 and all other applicable U.S. and non-U.S. anti-money laundering laws and regulations, including, but not
limited to, the laws, regulations and Executive Orders and sanctions programs administered by the U.S. Office of Foreign Assets
Control, including, but not limited, to (i) Executive Order 13224 of September 23, 2001 entitled, “Blocking Property and
Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism” (66 Fed. Reg. 49079 (2001));
and (ii) any regulations contained in 31 CFR, Subtitle B, Chapter V.

 

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Section
4.25 ILLEGAL OR UNAUTHORIZED PAYMENTS; POLITICAL CONTRIBUTIONS. Neither the Company, nor any Subsidiary has, nor, to the
best of the Company’s knowledge (after reasonable inquiry of its officers and directors), any of the officers, directors,
employees, agents or other representatives of the Company, any Subsidiary or any other business entity or enterprise with which
the Company is or has been affiliated or associated, has, directly or indirectly, made or authorized any payment, contribution
or gift of money, property, or services, whether or not in contravention of applicable law, (a) as a kickback or bribe to any
Person or (b) to any political organization, or the holder of or any aspirant to any elective or appointive public office except
for personal political contributions not involving the direct or indirect use of funds of the Company.

 

Section
4.26 SHELL COMPANY STATUS. The Company is not currently an issuer identified in Rule 144(i)(1)(i) under the Securities
Act, is subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, has filed all reports and other materials
required to be filed by Section 13 or 15(d) of the Exchange Act as applicable during the preceding 12 months, and, as of a date
at least one year prior to the Execution Date, has filed current “Form 10 information” with the SEC (as defined in
Rule 144(i)(3) of the Securities Act) reflecting its status as an entity that is no longer an issuer described in Rule 144(i)(1)(i)
of the Securities Act.

 

Section
4.27 Acknowledgment of Dilution. The Company understands and acknowledges
the potentially dilutive effect to the Common Stock upon the issuance of the Conversion Shares upon conversion of each Note. The
Company further acknowledges that its obligation to issue Conversion Shares upon conversion of each Note in accordance with this
Agreement, and the Note, is absolute and unconditional regardless of the dilutive effect that such issuance may have on the ownership
interests of other shareholders of the Company.

 

Section
4.28 ABSENCE OF SCHEDULES. In the event that, at the Closing, the Company does not deliver any disclosure schedule contemplated
by this Agreement, the Company hereby acknowledges and agrees that (i) each such undelivered disclosure schedule shall be deemed
to read as follows: “Nothing to Disclose”, and (ii) no Purchaser has otherwise waived delivery of such disclosure
schedule.

 

Article
V

COVENANTS
OF THE COMPANY

 

Section
5.1 EQUITY LINES AND CONVERTIBLE NOTES. The Company covenants and agrees that it will not, while any Note remains outstanding,
without the prior unanimous written consent of the Purchasers, enter into any equity line of credit agreement with any other party
or have any Variable Security Holders, excluding the Purchasers, without the Purchasers’ prior unanimous written consent,
which consent may be granted or withheld in the Purchasers’ sole and absolute discretion; provided that such arrangements
evidenced by written agreements that exist as of the Execution Date shall not be subject to the provisions of this Section
5.1.

 

Section
5.2 FILING OF CURRENT REPORT. The Company agrees that, if required under applicable laws and regulations, it shall file
a Current Report on Form 8-K, including the Transaction Documents as exhibits thereto, with the SEC within the time required by
the Exchange Act, relating to the transactions contemplated by, and describing the material terms and conditions of, the Transaction
Documents (the “Current Report”). The Company shall permit the Purchasers to review and comment upon the final
pre-filing draft version of the Current Report at least two (2) Trading Days prior to its filing with the SEC, and the Company
shall give reasonable consideration to all such comments. Each Purchaser shall use its reasonable best efforts to comment upon
the final pre-filing draft version of the Current Report within one (1) Trading Day from the date the Purchaser receives it from
the Company.

 

    	-10-

    	 

    

 

Section
5.3 DUE DILIGENCE; CONFIDENTIALITY; NON-PUBLIC INFORMATION. Each Purchaser shall have the right, from time to time as the
Purchaser may reasonably deem appropriate, to perform reasonable due diligence on the Company during normal business hours. The
Company, each Subsidiary and their respective officers and employees shall provide information and reasonably cooperate with the
Purchaser in connection with any reasonable request by the Purchaser related to the Purchaser’s due diligence of the Company.
The Company agrees not to disclose any Confidential Information of any Purchaser to any third party, except for attorneys, accountants,
advisors who have a need to know such Confidential Information and are bound by confidentiality, and shall not use any Confidential
Information for any purpose other than in connection with, or in furtherance of, the transactions contemplated hereby. The Company
acknowledges that the Confidential Information of each Purchaser shall remain the property of the Purchaser and agrees that it
shall take all reasonable measures to protect the secrecy of any Confidential Information disclosed by the Purchaser. The Company
confirms that neither it nor any other Person acting on its behalf shall provide any Purchaser or its agents or counsel with any
information that constitutes or might constitute material, non-public information, unless a simultaneous public announcement thereof
is made by the Company in the manner contemplated by Regulation FD. In the event of a breach of the foregoing covenant by the
Company or any Person acting on its behalf (as determined in the reasonable good faith judgment of any Purchaser), in addition
to any other remedy provided herein or in the Note, each Purchaser shall have the right to make a public disclosure, in the form
of a press release, public advertisement or otherwise, of such material, non-public information without the prior approval by
the Company; provided the Purchaser shall have first provided notice to the Company that it believes it has received information
that constitutes material, non-public information, the Company shall have at least twenty-four (24) hours to publicly disclose
such material, non-public information prior to any such disclosure by the Purchaser, and the Company shall have failed to publicly
disclose such material, non-public information within such time period. No Purchaser shall have any liability to the Company,
any Subsidiary, or any of their respective directors, officers, employees, stockholders, affiliates or agents, for any such disclosure.
The Company understands and confirms that each Purchaser shall be relying on the foregoing covenants in effecting transactions
in securities of the Company.

 

Section
5.4 TAXES. The Company shall pay any and all transfer, stamp or similar taxes that may be payable with respect to the issuance
and delivery of each Note.

 

Section
5.5 Use of Proceeds. The Company shall use the proceeds from the sale of
the Notes for working capital and other general corporate purposes and shall not, directly or indirectly, use such proceeds for
any loan or advances to, or investment in, or the repayment of any debts to, any of its officers, directors or affiliates or any
other corporation, partnership, enterprise or other Person.

 

Section
5.6 EXCLUSIVITY OF OTHER OFFERINGS. While any Notes are outstanding, if the Company has a bona fide offer of financing
from any 3rd party comprised of any securities offering that the Company intends to act upon (including but not limited to equity,
debt or equity-linked securities financings) then the Company must first offer such opportunity to the Purchasers to provide financing
to the Company on the same or similar terms as each respective 3rd party’s terms, by delivering written notice thereof to
the Purchasers. Should the Purchasers be unwilling or unable to provide such capital or financing to the Company within thirty
(30) Trading Days from Purchasers’ receipt of the written offer notice from the Company, then the Company may obtain such
capital or financing from that respective 3rd party upon the exact same terms and conditions offered by the Company to the Purchasers,
which transaction must be completed within 10 days after Purchasers’ declining of the offer (“3rd Party Option
Period”). If the Company does not receive the financing from the respective 3rd party within the 3rd Party Option Period,
then the Company must again offer the financing opportunity to the Purchaser as described above, and the process detailed above
shall be repeated.

 

    	-11-

    	 

    

 

Article
VI

CONDITIONS
TO CLOSING

 

Section
6.1 CONDITIONS PRECEDENT TO THE OBLIGATION OF COMPANY TO SELL THE NOTES. The obligation of the Company hereunder to sell
the Notes is subject to the satisfaction of each of the following conditions:

 

(a)
ACCURACY OF PURCHASERS’ REPRESENTATIONS AND WARRANTIES. The representations and warranties of each Purchaser shall
be true and correct in all material respects as of the Execution Date and as of the date of the Closing as though made at each
such time.

 

(b)
PERFORMANCE BY PURCHASERS. The Purchasers shall have performed, satisfied and complied in all respects with all covenants,
agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Purchasers at or prior
to the Closing.

 

Section
6.2 CONDITIONS PRECEDENT TO THE OBLIGATION OF PURCHASERS TO PURCHASE THE NOTES. The obligation of the Purchasers hereunder
to purchase the Notes is subject to the satisfaction of each of the following conditions:

 

(a)
ACCURACY OF THE COMPANY’S REPRESENTATIONS AND WARRANTIES. The representations and warranties of the Company in this
Agreement shall be true and correct in all material respects as of the Execution Date and as of the Closing Date.

 

(b)
PERFORMANCE BY THE COMPANY. The Company shall have performed, satisfied and complied in all material respects with all
covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Company.

 

(c)
NO INJUNCTION. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered,
promulgated or adopted by any court or governmental authority of competent jurisdiction that prohibits or directly and materially
adversely affects any of the transactions contemplated by the Transaction Documents, and no proceeding shall have been commenced
that may have the effect of prohibiting or materially adversely affecting any of the transactions contemplated by the Transaction
Documents.

 

(d)
ADVERSE CHANGES. Since the date of filing of the Company’s most recent SEC Document, no event that had or is reasonably
likely to have a Material Adverse Effect has occurred.

 

(e)
NO SUSPENSION OF TRADING IN OR DELISTING OF COMMON STOCK. The trading of the Common Stock shall not have been suspended
by the SEC, the Principal Market or FINRA, or otherwise halted for any reason, and the Common Stock shall have been approved for
listing or quotation on and shall not have been delisted from the Principal Market.

 

(f)
SEC DOCUMENTS. All reports, schedules, registrations, forms, statements, information and other documents required to have
been filed by the Company with the SEC pursuant to the reporting requirements of the Exchange Act (other than Forms 8-K) shall
have been filed with the SEC within the applicable time periods prescribed for such filings under the Exchange Act.

 

    	-12-

    	 

    

 

(g)
NO VIOLATION. No litigation, statute, regulation, order, guidance, decree, writ, ruling or injunction shall have been enacted,
entered, promulgated, threatened or endorsed by any federal, state, local or foreign court or governmental authority of competent
jurisdiction, including, without limitation, the SEC, which prohibits the consummation of or which would materially modify or
delay any of the transactions contemplated by the Transaction Documents.

 

(h)
GOOD STANDING. The Company shall have delivered to SBI a certificate of good standing issued by the State of Delaware,
dated within five days prior to the Execution Date.

 

(i)
BOARD APPROVAL. The Company shall deliver executed copies of its board consent authorizing the transactions contemplated
by this Agreement and approving the Transaction Documents.

 

(j)
DELIVERY OF NOTES. The Company shall have delivered to each Purchaser its duly executed Note.

 

(k)
DELIVERY OF WARRANTS. The Company shall have delivered to each Purchaser its duly executed Warrant.

 

(l)
DELIVERY OF TRANSFER AGENT INSTRUCTIONS. The Company shall have delivered to each Purchaser irrevocably transfer agent
instructions (the “TA Letter”) executed by the Company and its transfer agent in the form attached hereto as
Exhibit C.

 

Article
VII

NOTICES;
INDEMNIFICATION

 

Section
7.1 NOTICES. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder
shall be in writing and, unless otherwise specified herein, shall be (a) personally served, (b) deposited in the mail, registered
or certified, return receipt requested, postage prepaid, (c) delivered by reputable air courier service with charges prepaid,
or (d) transmitted by hand delivery, facsimile, or e-mail as a PDF, addressed as set forth below and on the Schedule of Purchasers,
or to such other address as such party shall have specified most recently by written notice given in accordance herewith. Any
notice or other communication required or permitted to be given hereunder shall be deemed effective (i) upon hand delivery or
delivery by e-mail at the address designated below (if delivered on a business day during normal business hours where such notice
is to be received), or the first business day following such delivery (if delivered other than on a business day during normal
business hours where such notice is to be received) or (ii) on the second business day following the date of mailing by express
courier service or on the fifth business day after deposited in the mail, in each case, fully prepaid, addressed to such address,
or upon actual receipt of such mailing, whichever shall first occur.

 

The
addresses for such communications shall be:

 

If
to the Company:

 

Bridgeway
National Corp. 

1015
15th Street NW Suite 1030

Washington,
DC 20005

Attention:
Eric Blue, CEO

E-mail:
eric.blue@bridgewaynational.com

Phone:
214-205-6215

 

    	-13-

    	 

    

 

If
to SBI:

 

SBI
Investments LLC, 2014-1 

107
Grand Street, 7th Floor

New
York, NY 10013

Email:
jjuchno@seaotterglobal.com

Phone:
646.401.4216

Attention:
Jonathan Juchno, Principal

 

with
a copy to (that shall not constitute notice)

 

K&L
Gates LLP

200
S. Biscayne Blvd., Suite 3900

Miami,
FL 33131

E-mail:
john.owens@klgates.com

Phone:
305.539.3328

Attention:
John D. Owens, III, Esq.

 

If
to the Purchasers: as set forth on the Schedule of Purchasers

 

Any
party hereto may from time to time change its address or e-mail for notices under this Section 7.1 by giving at least ten
(10) days’ prior written notice of such changed address to the other parties hereto.

 

Section
7.2 INDEMNIFICATION. Each party hereto (an “Indemnifying Party”) agrees to indemnify and hold harmless
each other party along with its officers, directors, employees, and authorized agents, and each Person or entity, if any, who
controls such party within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act or the rules and
regulations thereunder (an “Indemnified Party”) from and against any Damages, joint or several, and any action
in respect thereof to which the Indemnified Party becomes subject to, resulting from, arising out of or relating to any misrepresentation,
breach of warranty or nonfulfillment of or failure to perform any covenant or agreement on the part of the Indemnifying Party
contained in this Agreement.

 

Article
VIII

MISCELLANEOUS

 

Section
8.1 GOVERNING LAW. All questions concerning the construction, validity, enforcement and interpretation of the Transaction
Documents shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without
regard to any principles of conflicts of law.

 

Section
8.2 Jurisdiction. Each party agrees that all legal actions, suits, proceedings and claims concerning the interpretations,
enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought
against a party hereto or its respective affiliates, directors, officers, shareholders, partners, members, employees or agents)
shall be commenced exclusively in the state and federal courts sitting in the City of New York, New York. Each party hereby irrevocably
submits to the exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for
the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein
(including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees not
to assert in any action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that
such action or proceeding is improper or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal
service of process and consents to process being served in any such action or proceeding by mailing a copy thereof via registered
or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under
this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing
contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. If any party
shall commence an action or proceeding to enforce any provisions of the Transaction Documents, then, in addition to the obligations
of the Company elsewhere in this Agreement, the prevailing party in such action or proceeding shall be reimbursed by the non-prevailing
party for its reasonable attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution
of such action or proceeding.

 

    	-14-

    	 

    

 

Section
8.3 JURY TRIAL WAIVER. THE COMPANY AND EACH PURCHASER HEREBY WAIVE A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
BROUGHT BY ANY OF THE PARTIES HERETO AGAINST ANY OTHER IN RESPECT OF ANY MATTER ARISING OUT OF OR IN CONNECTION WITH THE TRANSACTION
DOCUMENTS.

 

Section
8.4 ASSIGNMENT. This Agreement shall be binding upon and inure to the benefit of the Company and each Purchaser and their
respective assignees or successors. Neither this Agreement nor any rights of the Company hereunder may be assigned by the Company
to any other Person. This Agreement and any rights of a Purchaser hereunder may be assigned by the Purchaser to any assignee of
such Purchaser’s Note.

 

Section
8.5 NO THIRD PARTY BENEFICIARIES. This Agreement is intended for the benefit of the Company and each Purchaser and their
respective assignees or successors, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

Section
8.6 ENTIRE AGREEMENT. The Transaction Documents, together with the exhibits and schedules thereto, contain the entire understanding
of the Company and each Purchaser with respect to the matters covered herein and therein and supersede all prior agreements and
understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents,
exhibits and schedules.

 

Section
8.7 FEES AND EXPENSES. Except as expressly set forth in the Transaction Documents or any other writing to the contrary,
each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses
incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. The Company
shall pay all stamp taxes and other taxes and duties levied in connection with the delivery of the Note to the Purchasers. In
addition, SBI shall be entitled to a $20,000.00 credit added to the principal amount of its Note for its legal fees.

 

Section
8.8 COUNTERPARTS. This Agreement may be executed in multiple counterparts, each of which may be executed by less than all
of the parties and shall be deemed to be an original instrument which shall be enforceable against the parties actually executing
such counterparts and all of which together shall constitute one and the same instrument. This Agreement may be delivered to the
other parties hereto by e-mail of a copy of this Agreement bearing the signature of the parties so delivering this Agreement.

 

Section
8.9 SEVERABILITY. In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction
to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision; provided
that such severability shall be ineffective if it materially changes the economic benefit of this Agreement to any party.

 

Section
8.10 FURTHER ASSURANCES. Each party shall do and perform, or cause to be done and performed, all such further acts and
things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may
reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the
transactions contemplated hereby.

 

    	-15-

    	 

    

 

Section
8.11 NO STRICT CONSTRUCTION. The language used in this Agreement will be deemed to be the language chosen by the parties
to express their mutual intent, and no rules of strict construction will be applied against any party.

 

Section
8.12 EQUITABLE RELIEF. The Company recognizes that in the event that it fails to perform, observe, or discharge any or
all of its obligations under this Agreement, any remedy at law may prove to be inadequate relief to the Purchasers. The Company
therefore agrees that each Purchaser shall be entitled to temporary and permanent injunctive relief in any such case without the
necessity of proving actual damages.

 

Section
8.13 TITLE AND SUBTITLES. The titles and subtitles used in this Agreement are used for the convenience of reference and
are not to be considered in construing or interpreting this Agreement.

 

Section
8.14 AMENDMENTS; WAIVERS. No provision of this Agreement may be amended other than by a written instrument signed by all
parties hereto, and no provision of this Agreement may be waived other than in a written instrument signed by the party against
whom enforcement of such waiver is sought. No failure or delay in the exercise of any power, right or privilege hereunder shall
operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or
further exercise thereof or of any other right, power or privilege.

 

Section
8.15 PUBLICITY. The Company and the Purchasers shall consult with each other in issuing any press releases or otherwise
making public statements with respect to the transactions contemplated hereby and no party shall issue any such press release
or otherwise make any such public statement, other than as required by law, without the prior written consent of the other parties,
which consent shall not be unreasonably withheld or delayed, except that no prior consent shall be required if such disclosure
is required by law, in which such case the disclosing party shall provide the other party with prior notice of such public statement.
Notwithstanding the foregoing, the Company shall not publicly disclose the name of any Purchaser without the prior written consent
of the Purchaser, except to the extent required by law.

 

**
Signature Page Follows **

 

    	-16-

    	 

    

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be duly executed by their respective officers thereunto duly authorized
as of the Execution Date.

 

	 	COMPANY:
	 	 	 
	 	BRIDGEWAY NATIONAL CORP. 
	 	 	 
	 	By:	 
	 	Name:	Eric
    Blue
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	SBI:
	 	 	 
	 	SBI INVESTMENTS LLC, 2014-1
	 	 	 
	 	By:	 
	 	Name:	Jonathan
    Juchno
	 	Title:	Principal
	 	 	 
	 	OTHER PURCHASERS:
	 	 	 
	 	OASIS CAPITAL, LLC
	 	 	 
	 	By:	 
	 	Name:	Adam
    Long
	 	Title:	Managing
    Partner
	 	 	 
	 	CAVALRY FUND I LP
	 	 	 
	 	By:	Cavalry
    Fund I Management LLC
	 	Its:	General
    Partner
	 	 	 
	 	By:	 
	 	Name:	Thomas
    P. Walsh
	 	Title:	Managing Partner

 

**
Signature Page to Promissory Note Purchase Agreement **

 

    	 

    	 

    

 

SCHEDULE
OF PURCHASERS

 

	(1)	 	(2)	 	 	(3)	 	 	 	(4)	 	 	(5)
	Purchaser	 	Address, E-mail and Phone	 	 	Aggregate 
 Note Face 
 Value1
	 	 	 	Purchase Price
	 	 	Number of 
 Warrant Shares
 

	SBI Investments LLC, 2014-1	 	107 Grand Street, 7th Floor 
New York, NY 10013 
Email: jjuchno@seaotterglobal.com 
Phone: 646.401.4216	 	$	350,000.002	 	 	$	300,000.00	 	 	1,842,105
	Oasis Capital, LLC	 	208 Ponce de Leon Avenue, Suite 1600 
San Juan, PR 00918 
Email: adam@oasis-cap.com 
Phone: 816.960.0100	 	$	330,000.00	 	 	$	300,000.00	 	 	1,736,842
	Cavalry Fund I LP	 	61 Kinderkamack Rd. 
Woodcliff Lake, NJ 07677 
Email: thomas@cavalryfund.com 
Phone: 201.391.1839	 	$	165,000.00	 	 	$	150,000.00	 	 	868,421

 

1.
Each Note Face Value has an original issuance discount of nine percent (9%).

2.
Aggregate Note Face Value of the SBI Note includes $20,000.00 credit for SBI’s legal expenses.

 

    	 

    	 

    

 

EXHIBIT
A

 

FORM
OF CONVERTIBLE PROMISSORY NOTE

 

    	 

    	 

    

 

EXHIBIT
B

 

FORM
OF WARRANT

 

    	 

    	 

    

 

EXHIBIT
C

 

TRANSFER
AGENT INSTRUCTIONS

 

    	 

    	 

    

 

SCHEDULES
TO 

 

PROMISSORY
NOTE PURCHASE AGREEMENT

 

    	 

    	 

    

 

Schedule
4.7

 

N/A

 

    	 

    	 

    

 

Schedule
4.8

 

On
October 24, 2019, Bridgeway National Corp. f/k/a Capital Park Holdings Corp. (“Bridgeway” or the “Company”)
entered into an equity purchase agreement (the “Purchase Agreement”) with SBI Investments LLC, 2014-1, a statutory
series of Delaware limited liability company (“SBI”) and Oasis Capital, LLC, a Puerto Rico limited liability company
(“Oasis” and together with SBI, the “Investors”, and each, an “Investor”), pursuant to which
the Investors agreed to, in the aggregate between the Investors, purchase from the Company up to Ten Million Dollars ($10,000,000.00)(the
“Maximum Commitment Amount”) of the Company’s common stock, $0.001 par value per share (the “Common Stock”).

 

Concurrently
with the execution of the Purchase Agreement, the Company, SBI and Oasis entered into a Registration Rights Agreement, dated as
of October 24, 2019 (the “Registration Rights Agreement”). Pursuant to the Registration Rights Agreement, the Company
shall by December 8, 2019, file with the SEC an initial registration statement on Form S-1 covering the maximum number of Registrable
Securities (as defined below) as shall be permitted to be included in accordance with applicable SEC rules, regulations and interpretations
so as to permit the resale of such Registrable Securities by the Investors, including but not limited to under Rule 415 under
the Securities Act at then prevailing market prices (and not fixed prices), as mutually determined by both the Company and the
Investors in consultation with their respective legal counsel. “Registrable Securities” means all of the Put Shares
which have been, or which may, from time to time be issued, including without limitation all of the shares of Common Stock which
have been issued or will be issued to an Investor under the Purchase Agreement (without regard to any limitation or restriction
on purchases), and any and all shares of capital stock issued or issuable with respect to Put Shares (as such terms are defined
in the Purchase Agreement) issued or issuable to an Investor, and shares of Common Stock issued to an Investor with respect to
the Put Shares and the Purchase Agreement as a result of any stock split, stock dividend, recapitalization, exchange or similar
event or otherwise, without regard to any limitation on purchases under the Purchase Agreement.Exhibit 10.2

 

NEITHER
THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE
COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE 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 AS EVIDENCED BY A
LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.
THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN
ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

COMMON
STOCK PURCHASE WARRANT

BRIDGEWAY
NATIONAL CORP.

 

	Warrant
    Shares: 1,842,105	Initial
    Exercise Date: March 2, 2020

 

THIS
COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, SBI INVESTMENTS LLC, 2014-1,
a statutory series of a Delaware limited liability company, or its assigns (the “Holder”) is entitled, upon
the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after March 2,
2020 (the “Initial Exercise Date”) and on or prior to the close of business on the five (5) year anniversary
of the Initial Exercise Date (the “Termination Date”) but not thereafter, to subscribe for and purchase from
BRIDGEWAY NATIONAL CORP., a Delaware corporation (the “Company”), up to 1,842,105 shares of Common Stock (subject
to adjustment hereunder, the “Warrant Shares”). The purchase price of one Warrant Share under this Warrant
shall be equal to the Exercise Price, as defined in Section 2(b).

 

Section
1. Definitions. Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain
Promissory Note Purchase Agreement (the “Purchase Agreement”), dated March 2, 2020, among the Company and the
Purchasers, pursuant to which this Warrant and a Convertible Promissory Note (the “Note”) were issued to the
Holder.

 

Section
2. Exercise.

 

(a)
Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after
the Initial Exercise Date and on or before the Termination Date by delivery to the Company (or such other office or agency of
the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing on the books
of the Company) of a duly executed facsimile copy of the Notice of Exercise Form annexed hereto. Within two (2) Trading Days following
the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the shares specified in the applicable
Notice of Exercise by wire transfer or cashier’s check drawn on a United States bank unless the cashless exercise procedure
specified in Section 2(c) below is specified in the applicable Notice of Exercise. Notwithstanding anything herein to the
contrary (although the Holder may surrender the Warrant to, and receive a replacement Warrant from, the Company), the Holder shall
not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available
hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for
cancellation within three (3) Trading Days of the date the final Notice of Exercise is delivered to the Company. Partial exercises
of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect
of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant
Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date
of such purchases. The Company shall deliver any objection to any Notice of Exercise Form within one (1) Trading Day of delivery
of such notice. The Holder by acceptance of this Warrant, acknowledges and agrees that, by reason of the provisions of this paragraph,
following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder
at any given time may be less than the amount stated on the face hereof.

 

    	1

    	 

    

 

(b)
Exercise Price. The exercise price per share of the Common Stock under this Warrant shall be equal to $0.095 per share,
subject to adjustment under Section 3 (the “Exercise Price”).

 

(c)
Cashless Exercise. If at any time after the Initial Exercise Date, there is no effective registration statement covering
the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at the Holder’s election, in whole
or in part and in lieu of making the cash payment otherwise contemplated to be made to the Company upon such exercise, at such
time by means of a “cashless exercise” in which the Holder shall be entitled to receive a number of Warrant Shares
equal to the quotient obtained by dividing [(A x B) – (A x C)] by (D), where:

 

	 	(A)	= 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;
	 	 	 
	 	(B)	= the greater of (i) the arithmetic average of the VWAPs
for the five (5) consecutive Trading Days ending on the date immediately preceding the date on which the Holder elects to exercise
this Warrant by means of a “cashless exercise,” as set forth in the applicable Notice of Exercise or (ii) the VWAP
for the Trading Day immediately prior to the date on which the Holder makes such “cashless exercise” election;
	 	 	 
	 	(C)	= the Exercise Price of this Warrant, as adjusted hereunder,
at the time of such exercise; and
	 	 	 
	 	(D)	= the lesser of (i) the arithmetic average of the VWAPs
for the five (5) consecutive Trading Days ending on the date immediately preceding the date on which the Holder elects to exercise
this Warrant by means of a “cashless exercise,” as set forth in the applicable Notice of Exercise or (ii) the VWAP
for the Trading Day immediately prior to the date on which the Holder makes such “cashless exercise” election.

 

    	2

    	 

    

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then
listed or quoted on a Trading Market (as defined in the Note), the daily volume weighted average price of the Common Stock for
such date (or the nearest preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported
by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB
or OTCQX is not a Trading Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on OTCQB or OTCQX as applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and
if prices for the Common Stock are then reported in the OTC Pink Marketplace of OTC Markets Group, Inc., the most recent bid price
per share of the Common Stock so reported, or (d) in all other cases, the fair market value of a share of Common Stock as determined
by an independent appraiser selected in good faith by the Holders of a majority in interest of the Securities then outstanding
and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

If
Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9)
of the Securities Act, the Warrant Shares shall take on the characteristics of the Warrants being exercised, and the holding period
of the Warrants being exercised may be tacked on to the holding period of the Warrant Shares. The Company agrees not to take any
position contrary to this Section 2(c).

 

Notwithstanding
anything herein to the contrary, if on the Termination Date (unless the Holder notifies the Company otherwise) if there is no
effective registration statement covering the resale of the Warrant Shares by the Holder, then this Warrant shall be automatically
exercised via cashless exercise pursuant to this Section 2(c).

 

    	3

    	 

    

 

(d)
Mechanics of Exercise.

 

(i)
Delivery of Certificates Upon Exercise. Certificates for shares purchased hereunder shall be transmitted to the Holder
by its transfer agent to the Holder by crediting the account of the Holder’s prime broker with The Depository Trust Company
through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant in such
system and either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or resale
of the Warrant Shares by the Holder or (B) this Warrant is being exercised via cashless exercise and Rule 144 is available, and
otherwise by physical delivery to the address specified by the Holder in the Notice of Exercise by the date that is three (3)
Trading Days after the latest of (A) the delivery to the Company of the Notice of Exercise and (B) payment of the aggregate Exercise
Price as set forth above (unless by cashless exercise, if permitted) (such date, the “Warrant Share Delivery Date”).
The Warrant Shares shall be deemed to have been issued, and Holder or any other person so designated to be named therein shall
be deemed to have become a holder of record of such shares for all purposes, as of the date the Warrant has been exercised, with
payment to the Company of the Exercise Price (or by cashless exercise, if permitted) and all taxes required to be paid by the
Holder, if any, pursuant to Section 2(d)(vi) prior to the issuance of such shares, having been paid. The Company understands
that a delay in the delivery of the Warrant Shares after the Warrant Share Delivery Date could result in economic loss to the
Holder. As compensation to the Holder for such loss, the Company agrees to pay (as liquidated damages and not as a penalty) to
the Holder for late issuance of Warrant Shares upon exercise of this Warrant the proportionate amount of $5 per Trading Day (increasing
to $10 per Trading Day after the fifth (5th) Trading Day) after the Warrant Share Delivery Date for each $1,000 of Exercise Price
of Warrant Shares for which this Warrant is exercised which are not timely delivered. In no event shall liquidated damages for
any one transaction exceed $1,000.00 for the first ten Trading Days. The Company shall pay any payments incurred under this Section
2(d)(i) in immediately available funds upon demand. Furthermore, in addition to any other remedies which may be available
to the Holder, in the event that the Company fails for any reason to effect delivery of the Warrant Shares by the Warrant Share
Delivery Date, the Holder may revoke all or part of the relevant Warrant exercise by delivery of a notice to such effect to the
Company, whereupon the Company and the Holder shall each be restored to their respective positions immediately prior to the exercise
of the relevant portion of this Warrant, except that the liquidated damages described above shall be payable through the date
notice of revocation or rescission is given to the Company.

 

(ii)
Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request
of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the certificate or certificates representing
Warrant Shares, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unpurchased Warrant Shares
called for by this Warrant, which new Warrant shall in all other respects be identical to this Warrant.

 

(iii)
Rescission Rights. If the Company fails to deliver the Warrant Shares cause its transfer agent to transmit to the Holder
a certificate or the certificates representing the Warrant Shares pursuant to Section 2(d)(i) by the Warrant Share Delivery
Date, then the Holder will have the right, at any time prior to issuance of such Warrant Shares, to rescind such exercise.

 

(iv)
Compensation for Buy-In on Failure to Timely Deliver Certificates Upon Exercise. In addition to any other rights available
to the Holder, if the Company fails to deliver the Warrant Shares, or cause its transfer agent to transmit to the Holder a certificate
or the certificates representing the Warrant Shares pursuant to an exercise on or before the Warrant Share Delivery Date, and
if after such date the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s
brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares
which the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash
to the Holder the amount, if any, by which (x) the Holder’s total purchase price (including brokerage commissions, if any)
for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant Shares that
the Company was required to deliver to the Holder in connection with the exercise at issue times (2) the price at which the sell
order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion
of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in which case such exercise shall
be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would have been issued had the Company
timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases Common Stock having
a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate
sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company
shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable
to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall
limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation,
a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver certificates
representing shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

 

    	4

    	 

    

 

(v)
No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the
Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction
multiplied by the Exercise Price or round up to the next whole share.

 

(vi)
Charges, Taxes and Expenses. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for
any issue or transfer tax or other incidental expense in respect of the issuance of such certificate including any charges of
any clearing firm, all of which taxes and expenses shall be paid by the Company, and such certificates shall be issued in the
name of the Holder or in such name or names as may be directed by the Holder; provided, however, that in the event
certificates for Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant when surrendered for
exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and the Company may require,
as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. The Company shall
pay all transfer agent fees required for same-day processing of any Notice of Exercise.

 

(vii)
Closing of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise
of this Warrant, pursuant to the terms hereof.

 

    	5

    	 

    

 

(e)
Holder’s Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not
have the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving
effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s
“affiliates” (as defined in Rule 144)), would beneficially own in excess of the Beneficial Ownership Limitation
(as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder
and its affiliates shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which
such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise
of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder or any of its affiliates and (ii) exercise
or conversion of the unexercised or nonconverted portion of any other securities of the Company (including, without limitation,
any other Common Stock Equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein
beneficially owned by the Holder or any of its affiliates. Except as set forth in the preceding sentence, for purposes of this
Section 2(e), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules
and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder
that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules
required to be filed in accordance therewith. To the extent that the limitation contained in this Section 2(e) applies,
the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any
affiliates) and of which portion of this Warrant is exercisable shall be in the sole discretion of the Holder, and the submission
of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this Warrant is exercisable (in relation
to other securities owned by the Holder together with any affiliates) and of which portion of this Warrant is exercisable, in
each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy
of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance
with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 2(e),
in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common
Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may
be, (B) a more recent public announcement by the Company or (C) a more recent written notice by the Company or its transfer agent
setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall
within one Trading Day confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding. In any
case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of
securities of the Company, including this Warrant, by the Holder or its affiliates since the date as of which such number of outstanding
shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% of the number of
shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon
exercise of this Warrant. The Holder, upon not less than 61 days’ prior notice to the Company, may increase the Beneficial
Ownership Limitation provisions of this Section 2(e) solely with respect to the Holder’s Warrant, provided that the
Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of Common Stock outstanding immediately after
giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions of
this Section 2(e) shall continue to apply. Any such increase will not be effective until the 61st day after such notice
is delivered to the Company. The Holder may also decrease the Beneficial Ownership Limitation provisions of this Section 2(e)
solely with respect to the Holder’s Warrant at any time, which decrease shall be effectively immediately upon delivery
of notice to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict
conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof) which may be defective
or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary
or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor
holder of this Warrant.

 

    	6

    	 

    

 

Section
3. Certain Adjustments.

 

(a)
Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or
otherwise makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities
payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company
upon exercise of this Warrant or pursuant to any of the other Transaction Documents), (ii) subdivides outstanding shares of Common
Stock into a larger number of shares, (iii) combines (including by way of reverse stock split) outstanding shares of Common Stock
into a smaller number of shares, or (iv) issues by reclassification of shares of the Common Stock any shares of capital stock
of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number
of shares of Common Stock (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator
shall be the number of shares of Common Stock outstanding immediately after such event, and the number of shares issuable upon
exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain
unchanged. Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the record date for
the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after
the effective date in the case of a subdivision, combination or re-classification.

 

(b)
Adjustments for Issuance of Additional Securities. While this Warrant is outstanding, in the event that the Company shall,
at any time, issue or sell any additional shares of Common Stock or Common Stock Equivalents (hereafter defined) (“Additional
Shares of Common Stock”), in a transaction other than an Exempt Issuance, at a price per share less than the Exercise
Price then in effect or without consideration (a “Dilutive Issuance” based on a “Dilutive Issuance
Price”), then the Exercise Price upon each such issuance shall be reduced to the Dilutive Issuance Price, and the number
of Warrant Shares (excluding Warrant Shares previously exercised) shall be increased on a full ratchet basis to the number of
shares of Common Stock determined by multiplying the Exercise Price then in effect immediately prior to such adjustment by the
number of Warrant Shares (excluding Warrant Shares previously exercised) acquirable upon exercise of this Warrant immediately
prior to such adjustment and dividing the product thereof by the Exercise Price resulting from such adjustment. By way of example,
if E is the total number of Warrant Shares in effect immediately prior to such Dilutive Issuance, F is the Exercise Price in effect
immediately prior to such Dilutive Issuance, and G is the Dilutive Issuance Price, the adjustment to the number of Warrant Shares
can be expressed in the following formula: Total number of Warrant Shares after such Dilutive Issuance = the quotient obtained
from dividing [E x F] by G.

 

    	7

    	 

    

 

If
the price per share for which Additional Shares of Common Stock are sold, or may be issuable pursuant to any such Common Stock
Equivalent, is less than the applicable Exercise Price then in effect, or if, after any such issuance of Common Stock Equivalents,
the price per share for which Additional Shares of Common Stock may be issuable thereafter is amended or adjusted, and such price
as so amended shall be less than the applicable Exercise Price in effect at the time of such amendment or adjustment, then the
applicable Exercise Price and number of Warrant Shares shall be adjusted upon each such issuance or amendment as provided in this
Section 3(b). In case any Common Stock Equivalent is issued in connection with the issue or sale of other securities of
the Company, together comprising one integrated transaction, (x) the Common Stock Equivalents will be deemed to have been issued
for the Option Value of such Common Stock Equivalents and (y) the other securities issued or sold in such integrated transaction
shall be deemed to have been issued or sold for the difference of (I) the aggregate consideration received by the Company less
any consideration paid or payable by the Company pursuant to the terms of such other securities of the Company, less (II) the
Option Value. If any shares of Common Stock or Common Stock Equivalents are issued or sold or deemed to have been issued or sold
for cash, the amount of such consideration received by the Company will be deemed to be the net amount received by the Company
therefor. If any shares of Common Stock or Common Stock Equivalents are issued or sold for a consideration other than cash, the
amount of such consideration received by the Company will be the fair value of such consideration, except where such consideration
consists of publicly traded securities, in which case the amount of consideration received by the Company will be the VWAP of
such public traded securities on the date of receipt. If any shares of Common Stock or Common Stock Equivalents are issued to
the owners of the non-surviving entity in connection with any merger in which the Company is the surviving entity, the amount
of consideration therefor will be deemed to be the fair value of such portion of the net assets and business of the non-surviving
entity as is attributable to such shares of Common Stock or Common Stock Equivalents, as the case may be.

 

“Common
Stock Equivalents” means any rights or warrants or options to purchase any Common Stock or any convertible securities.

 

“Option
Value” means the value of a Common Stock Equivalent based on the Black Scholes Option Pricing model obtained from the
“OV” function on Bloomberg L.P. determined as of (A) the Trading Day prior to the public announcement of the issuance
of the applicable Common Stock Equivalent, if the issuance of such Common Stock Equivalent is publicly announced or (B) the Trading
Day immediately following the issuance of the applicable Common Stock Equivalent if the issuance of such Common Stock Equivalent
is not publicly announced, for pricing purposes and reflecting (i) a risk-free interest rate corresponding to the U.S. Treasury
rate for a period equal to the remaining term of the applicable Common Stock Equivalent as of the applicable date of determination,
(ii) an expected volatility equal to the greater of 100% and the 100 day volatility obtained from the HVT function on Bloomberg
L.P. as of (A) the Trading Day immediately following the public announcement of the applicable Common Stock Equivalent if the
issuance of such Common Stock Equivalent is publicly announced or (B) the Trading Day immediately following the issuance of the
applicable Common Stock Equivalent if the issuance of such Common Stock Equivalent is not publicly announced, (iii) the underlying
price per share used in such calculation shall be the highest VWAP of the Common Stock during the period beginning on the Trading
Day prior to the execution of definitive documentation relating to the issuance of the applicable Common Stock Equivalent and
ending on (A) the Trading Day immediately following the public announcement of such issuance, if the issuance of such Common Stock
Equivalent is publicly announced or (B) the Trading Day immediately following the issuance of the applicable Common Stock Equivalent
if the issuance of such Common Stock Equivalent is not publicly announced, (iv) a zero cost of borrow and (v) a 360 day annualization
factor.

 

    	8

    	 

    

 

The
provisions of this Section 3(b) shall apply each time the Company, at any time after the Initial Exercise Date, shall issue
any securities with a Dilutive Issuance Price. Notwithstanding the foregoing, no adjustment shall be made pursuant to this Section
3(b) with respect to an Exempt Issuance (as defined in the Purchase Agreement).

 

(c)
Adjustment upon Event of Default. If at any time after the Initial Exercise Date the Conversion Price (as defined in the
Note) decreases due to an Event of Default (as defined in the Note) or otherwise, if such new Conversion Price (the “Default
Conversion Price”) is lower than the Exercise Price of this Warrant, the Exercise Price shall be reduced to the Default
Conversion Price. The Company shall give the Holder prompt written notice of the occurrence of any event requiring such adjustment.

 

(d)
Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company
grants, issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata
to the record holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will
be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could
have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without
regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before
the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the
date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase
Rights (provided, however, to the extent that the Holder’s right to participate in any such Purchase Right would result
in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase
Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent)
and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto
would not result in the Holder exceeding the Beneficial Ownership Limitation). Notwithstanding the foregoing, no Purchase Rights
will be made under this Section 3(d) in respect of an Exempt Issuance.

 

(e)
Pro Rata Distributions. If the Company, at any time while this Warrant is outstanding, shall distribute to all holders
of Common Stock (and not to the Holder) evidences of its indebtedness or assets (including cash and cash dividends) or rights
or warrants to subscribe for or purchase any security other than the Common Stock (which shall be subject to Section 3(c)),
then in each such case the Exercise Price shall be adjusted by multiplying the Exercise Price in effect immediately prior to the
record date fixed for determination of stockholders entitled to receive such distribution by a fraction of which the denominator
shall be the VWAP determined as of the record date mentioned above, and of which the numerator shall be such VWAP on such record
date less the then per share fair market value at such record date of the portion of such assets or evidence of indebtedness so
distributed applicable to one outstanding share of the Common Stock as determined by the Board of Directors in good faith. In
either case the adjustments shall be described in a statement provided to the Holder of the portion of assets or evidences of
indebtedness so distributed or such subscription rights applicable to one share of Common Stock. Such adjustment shall be made
whenever any such distribution is made and shall become effective immediately after the record date mentioned above.

 

    	9

    	 

    

 

(f)
Fundamental Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in
one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company,
directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially
all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange
offer (whether by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell,
tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of
the outstanding Common Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification,
reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is
effectively converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in
one or more related transactions consummates a stock or share purchase agreement or other business combination (including, without
limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons whereby
such other Person or group acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common
Stock held by the other Person or other Persons making or party to, or associated or affiliated with the other Persons making
or party to, such stock or share purchase agreement or other business combination) (each a “Fundamental Transaction”),
then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would
have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction (without regard to any
limitation on the exercise of this Warrant), at the option of the Holder the number of shares of Common Stock of the successor
or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate
Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common
Stock for which this Warrant is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation
on the exercise of this Warrant). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately
adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share
of Common Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration
in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of
Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the
Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following
such Fundamental Transaction. Notwithstanding anything to the contrary, in the event of a Fundamental Transaction, the Company
or any Successor Entity (as defined below) shall, at the Holder’s option, exercisable at any time concurrently with, or
within 30 days after, the consummation of the Fundamental Transaction, purchase this Warrant from the Holder by paying to the
Holder (i) an amount of cash equal to the Black Scholes Value of the remaining unexercised portion of this Warrant on the date
of the consummation of such Fundamental Transaction or (ii) the positive difference between the cash per share paid in such Fundamental
Transaction minus the then in effect Exercise Price. “Black Scholes Value” means the value of the unexercised portion
of this Warrant based on the Black and Scholes Option Pricing Model obtained from the “OV” function on Bloomberg L.P.
determined as of the day of consummation of the applicable Fundamental Transaction for pricing purposes and reflecting (A) a risk-free
interest rate corresponding to the U.S. Treasury rate for a period equal to the time between the date of the public announcement
of the applicable Fundamental Transaction and the Termination Date, (B) an expected volatility equal to the greater of 100% and
the 100 day volatility obtained from the HVT function on Bloomberg L.P. as of the Trading Day immediately following the public
announcement of the applicable Fundamental Transaction, (C) the underlying price per share used in such calculation shall be the
sum of the price per share being offered in cash, if any, plus the value of any non-cash consideration, if any, being offered
in such Fundamental Transaction and (D) a remaining option time equal to the time between the date of the public announcement
of the applicable Fundamental Transaction and the Termination Date. The Company shall cause any successor entity in a Fundamental
Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in writing all of the
obligations of the Company under this Warrant and the other Transaction Documents in accordance with the provisions of this Section
3(e) pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder
(without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder
in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form
and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of such Successor Entity
(or its parent entity) equivalent to the shares of Common Stock acquirable and receivable upon exercise of this Warrant prior
to such Fundamental Transaction (without regard to any limitation on the exercise of this Warrant), and with an exercise price
which applies the exercise price hereunder to such shares of capital stock (but taking into account the relative value of the
shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number of
shares of capital stock and such exercise price being for the purpose of protecting the economic value of this Warrant immediately
prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form and substance to the
Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for
(so that from and after the date of such Fundamental Transaction, the provisions of this Warrant and the other Transaction Documents
referring to the “Company” shall refer instead to the Successor Entity), and may exercise every right and power of
the Company and shall assume all of the obligations of the Company under this Warrant and the other Transaction Documents with
the same effect as if such Successor Entity had been named as the Company herein. Notwithstanding the foregoing, no adjustment
shall be made pursuant to this Section 3(f) with respect to an Exempt Issuance (as defined in the Purchase Agreement).

 

    	10

    	 

    

 

(g)
Calculations. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of
a share, as the case may be. For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and
outstanding as of a given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued
and outstanding.

 

(h)
Notice to Holder.

 

(i)
Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3,
the Company shall promptly email to the Holder a notice setting forth the Exercise Price after such adjustment and any resulting
adjustment to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment. The Holder
may supply an email address to the Company and change such address.

 

(ii)
Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever
form) on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common
Stock, (C) the Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or
purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall
be required in connection with any reclassification of the Common Stock, any consolidation or merger to which the Company is a
party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby
the Common Stock is converted into other securities, or (E) the Company shall authorize the voluntary or involuntary dissolution,
liquidation or winding up of the affairs of the Company, then, in each case, the Company shall deliver to the Holder at its last
address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record
or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such
dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of
the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined
or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become
effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange
their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation,
merger, sale, transfer or share exchange; provided that the failure to email such notice or any defect therein or in the emailing
thereof shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any
notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries
(as determined in good faith by the Company), the Company shall simultaneously file such notice with the Commission pursuant to
a Current Report on Form 8-K. The Holder shall remain entitled to exercise this Warrant during the period commencing on the date
of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.

 

Section
4. Transfer of Warrant.

 

(a)
Transferability. Subject to compliance with any applicable securities laws and the provisions of the Purchase Agreement,
this Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in
part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment
of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient
to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company
shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination
or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion
of this Warrant not so assigned, and this Warrant shall promptly be cancelled. The Warrant, if properly assigned in accordance
herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

 

    	11

    	 

    

 

(b)
New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office
of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued,
signed by the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be
involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the
Warrant or Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall
be dated the initial issuance date of this Warrant and shall be identical with this Warrant except as to the number of Warrant
Shares issuable pursuant thereto.

 

(c)
Warrant Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose
(the “Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and
treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution
to the Holder, and for all other purposes, absent actual notice to the contrary.

 

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

 

Section
5. Miscellaneous.

 

(a)
No Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividends or other
rights as a stockholder of the Company prior to the exercise hereof other than as explicitly set forth in Section 3.

 

(b)
Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it, and upon surrender
and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new Warrant or stock
certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

 

(c)
Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right
required or granted herein shall not be a Trading Day, then, such action may be taken or such right may be exercised on the next
succeeding Trading Day.

 

    	12

    	 

    

 

(d)
Authorized Shares.

 

The
Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common
Stock, free of preemptive rights three times the number of shares of Common Stock issuable upon exercise of this Warrant, subject
to adjustment for stock dividends, stock splits, combination and similar events. The Company further covenants that its issuance
of this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates
to execute and issue the necessary certificates for the Warrant Shares upon the exercise of the purchase rights under this Warrant.
The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided
herein without violation of any applicable law or regulation, or of any requirements of any Trading Market upon which the Common
Stock may be listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights
represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant
Shares in accordance herewith, be duly authorized, validly issued, fully paid and non-assessable and free from all taxes, liens
and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously
with such issue).

 

In
addition to any other remedies provided by this Warrant or the Purchase Agreement, if the Company at any time fails to meet this
reservation of Common Stock requirement within 45 days after written notice from the Holder, it shall pay the Holder as partial
liquidated damages and not as a penalty a sum equal to $500 per day for each $100,000 of such Holder’s Subscription Amount
(or the Subscription Amount of the original Purchaser) and it shall sell to the Lead Investor for $100 a series of preferred stock
which contains the power to vote a number of votes equal to 51% of the number of votes eligible to vote at any special or annual
meeting of the Company’s shareholders (with the power to take action by written consent in lieu of a shareholders meeting)
for the sole purpose of amending the Company’s Articles of Incorporation to increase its authorized Common Stock. The Company
shall not enter into any agreement or file any amendment to its Articles of Incorporation (including the filing of a Certificate
of Designation) which conflicts with this Section 5(d) while the Notes and Warrants remain outstanding.

 

Except
and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation,
amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution,
issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the
terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all
such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment.
Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above
the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may
be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares
upon the exercise of this Warrant and (iii) use best efforts to obtain all such authorizations, exemptions or consents from any
public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under
this Warrant.

 

    	13

    	 

    

 

Before
taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or
in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be
necessary from any public regulatory body or bodies having jurisdiction thereof.

 

(e)
Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall
be determined in accordance with the provisions of the Purchase Agreement.

 

(f)
Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered
or if not exercised on a cashless basis when Rule 144 is available, may have restrictions upon resale imposed by state and federal
securities laws.

 

(g)
Non-waiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder
shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting
any other provision of this Warrant or the Purchase Agreement, if the Company willfully and knowingly fails to comply with any
provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts
as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including
those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing
any of its rights, powers or remedies hereunder.

 

(h)
Notices. Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company
shall be delivered in accordance with the notice provisions of the Purchase Agreement.

 

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

 

(j)
Remedies. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages,
will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not
be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees
to waive and not to assert the defense in any action for specific performance that a remedy at law would be adequate or that there
is no irreparable harm and not to require the posting of a bond or other security.

 

(k)
Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby
shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted
assigns of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant
and shall be enforceable by the Holder or holder of Warrant Shares.

 

    	14

    	 

    

 

(l)
Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company
and Holders of 100% of the outstanding Warrants issued pursuant to the Purchase Agreement.

 

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

 

(n)
Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be
deemed a part of this Warrant.

 

********************

 

(Signature
Page Follows)

 

    	15

    	 

    

 

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

 

	 	BRIDGEWAY NATIONAL CORP.
	 	 	 
	 	By:	             
	 	Name:	Eric
    Blue
	 	Title:	Chief
    Financial Officer

 

    	16

    	 

    

 

NOTICE
OF EXERCISE

 

To:
BRIDGEWAY NATIONAL CORP.

 

(1)
The undersigned hereby elects to purchase ___________ Warrant Shares of the Company pursuant to the terms of the attached Warrant
(only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer
taxes, if any.

 

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

 

[  ]
in lawful money of the United States; or

 

[  ]
[if permitted] the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in
subsection 2(c), to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless
exercise procedure set forth in subsection 2(c).

 

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

 

_______________________________

 

(4)
After giving effect to this Notice of Exercise, the undersigned will not have exceeded the Beneficial Ownership Limitation.

 

The
Warrant Shares shall be delivered to the following DWAC Account Number or by physical delivery of a certificate to:

 

_______________________________

 

_______________________________

 

_______________________________

 

[SIGNATURE
OF HOLDER]

 

Name
of Investing Entity: ______________________________________________________________________

Signature
of Authorized Signatory of Investing Entity: ________________________________________________

Name
of Authorized Signatory: __________________________________________________________________

Title
of Authorized Signatory: ___________________________________________________________________

Date:
_______________________________________________________________________________________

 

    	 

    	 

    

 

ASSIGNMENT
FORM

 

(To
assign the foregoing warrant, execute

this form and supply required information.

Do not use this form to exercise the warrant.)

 

BRIDGEWAY
NATIONAL CORP.

 

FOR
VALUE RECEIVED, [____] all of or [_______] shares of the foregoing Warrant and all rights evidenced thereby are hereby assigned
to

 

_______________________________________________
whose address is

 

_______________________________________________________________

 

_______________________________________________________________

 

Dated:
______________, _______

 

Holder’s
Signature: _____________________________

 

Holder’s
Address: _____________________________

 

_____________________________

 

Signature
Guaranteed: ___________________________________________

 

NOTE:
The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration
or enlargement or any change whatsoever, and must be guaranteed by a bank or trust company. Officers of corporations and those
acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.

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