Document:

Exhibit 4.3

  

  

  

  
    Unless this certificate is presented by an authorized  representative of The Depository Trust Company, a New York corporation (“DTC”), to the issuer
      or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede &
      Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an
      interest herein.

    

    

    IBM CREDIT LLC

    

    

    3.600% Note due 2021

    CUSIP 44932HAM5

    ISIN US44932HAM51

    

    

    No.: R-

    

    

    

    

    IBM CREDIT LLC, a limited liability company duly organized and existing under the laws of the State of Delaware (herein called the “Company”,
        which term includes any successor under the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to Cede & Co. or registered assigns, the principal sum of $                 (                 MILLION DOLLARS),
        at the office or agency of the Company in the Borough of Manhattan, The City and State of New York, or any other office or agency designated by the Company for that purpose, on November 30, 2021, in such coin or currency of the United States as at
        the time of payment shall be legal tender for the payment of public and private debts, and to pay interest, semi-annually in arrears on November 30 and May 30 of each year, commencing May 30, 2019, on said principal sum at said office or agency, in
        like coin or currency, at the rate of 3.600% per annum, from the November 30 and May 30 next preceding the date of this Note to which interest has been paid, unless the date hereof is a date to which interest has been paid, in which case from the
        date of this Note, or unless no interest has been paid on the Notes (as defined on the reverse hereof), in which case from November 30, 2018, until payment of said principal sum has been made or duly provided for.  Notwithstanding the foregoing, if
        the date hereof is after the fifteenth calendar day preceding a November 30 or May 30, as the case may be, and before such November 30 or May 30, this Note shall bear interest from such November 30 or May 30; provided, however, that if the Company
        shall default in the payment of interest due on such November 30 or May 30, then this Note shall bear interest from the next preceding November 30 or May 30 to which interest has been paid, or, if no interest has been paid on the Notes, from
        November 30, 2018.  The interest so payable on November 30 or May 30 will, subject to certain exceptions provided in the Indenture referred to on the reverse hereof, be paid to the person in whose name this Note is registered at the close of
        business on the fifteenth calendar day preceding such November 30 or May 30, unless the Company shall default in the payment of interest due

    

    

    
      
        

    

    
    on such interest payment date, in which case such defaulted interest, at the option of the Company, may be paid to the person in whose name this
        Note is registered at the close of business on a special record date for the payment of such defaulted interest established by notice to the registered holders of Notes not less than ten days preceding such special record date or may be paid in any
        other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed.  Payment of interest may, at the option of the Company, be made by check mailed to the registered address of the person entitled
        thereto.  Interest on this Note will be calculated on the basis of a 360-day year consisting of twelve 30-day months.

    

    

    Reference is made to the further provisions of this Note set forth on the reverse hereof.  Such further provisions shall for
        all purposes have the same effect as though fully set forth at this place.

    

    

    [signatures follow]

    

    

    
      
        

    

    

    

    

    

    This Note shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have
        been signed by the Trustee under the Indenture referred to on the reverse hereof.

    

    

    IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed.

    

    

    
      

      

       
      
        
          	Dated:  November 30, 2018 

                	IBM CREDIT LLC

                	 
	 	 	 	 
	 	 	 	 
	

                	
                  By: 

                	

                	 
	 	 	Name:

                	 
	 	 	Title:	 
	 	 	 	 
	 	 	 	 
	 	By: 

                	 	 
	 	 	Name: 

                	 
	 	 	Name: 

                	 

            

          

      

    

    

    

    
      
        

    

     

      

    

      
        
          
            	
                    
                      TRUSTEE’S CERTIFICATE

                        OF AUTHENTICATION

                        

                        

                        This is one of the

                        Securities of the Series

                        designated herein issued

                        under the within-

                        mentioned Indenture.

                      

                    

                  	 
	 	 	 
	 	 	 
	
                    THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee

                  	 
	 	 	 
	 	 	 
	
                    by 

                  	

                  	 
	 	Authorized Signatory

                  	 

          

        

      

       

        

       

        

       

        

       

        

       

        

       

        

       

        

       

        

       

        

       

        

       

        

       

        

       

        

       

        

       

        

       

        

       

    

     

      

    
      
        

    

     

      

    This security is one of a duly authorized issue of unsecured debentures, notes or other evidences of indebtedness of the Company
        (hereinafter called the “Securities”), of the series hereinafter specified, all issued or to be issued under an indenture dated as of September 8, 2017, duly executed and delivered by the Company to The Bank of New York Mellon Trust Company, N.A.,
        a New York banking corporation, as trustee (hereinafter called the “Trustee”), between the Company and the Trustee, as trustee (hereinafter called the “Indenture”), to which Indenture and all indentures supplemental thereto reference is hereby made
        for a description of the respective rights and duties thereunder of the Trustee, the Company and the holders of the Securities.  The Securities may be issued in one or more series, which different series may be issued in various aggregate principal
        amounts, may mature at different times, may bear interest at different rates, may have different conversion prices (if any), may be subject to different redemption provisions, may be subject to different sinking, purchase or analogous funds, may be
        subject to different covenants and Events of Default and may otherwise vary as in the Indenture provided.  This Security is one of a series designated as the 3.600% Notes due 2021 of the Company (hereinafter called the “Notes”) issued under the
        Indenture.

    

    

    The Notes may be redeemed, as a whole or in part, at the Company’s option, at any time or from time to time, upon mailing a notice of
        such redemption not less than 30 days nor more than 60 days prior to the date fixed for redemption to holders of the Notes at their last registered addresses, all as provided in the Indenture, at a redemption price equal to the greater of: (i) 100%
        of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to the redemption date; or (ii) the sum of the present values of the Remaining Scheduled Payments, as defined below, discounted, on a semiannual basis,
        assuming a 360-day year consisting of twelve 30-day months, at the Treasury Rate, as defined below, plus 12.5 basis points, plus accrued and unpaid interest, if any, to the redemption date.

    

    

    “Treasury Rate” means, with respect to any redemption date for the Notes: (i) the yield, under the heading which represents the average
        for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which
        establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue; provided that if no maturity is
        within three months before or after the maturity date for the Notes, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue will be determined and the Treasury Rate will be interpolated or extrapolated
        from those yields on a straight line basis rounding to the nearest month; or (ii) if that release, or any successor release, is not published during the week preceding the calculation date or does not contain such yields, the rate per annum equal
        to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for that
        redemption date. The Treasury Rate will be calculated on the third business day preceding the redemption date.

    

    

    
      
        

    

    “Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a maturity
        comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the
        remaining term of such Notes.

    

    

    “Independent Investment Banker” means one of the Reference Treasury Dealers, appointed by the Company.

    

    

    “Comparable Treasury Price” means, with respect to any redemption date for the Notes: (i) the average of the Reference Treasury Dealer
        Quotations for that redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations; or (ii) if the Company obtains fewer than four Reference Treasury Dealer Quotations, the average of all quotations obtained by
        the Company.

    

    

    “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as
        determined by the Company, of the bid and asked prices for the Comparable Treasury Issue, expressed in each case as a percentage of its principal amount, quoted in writing to the Company by such Reference Treasury Dealer at 3:30 p.m., New York City
        time on the third business day preceding such redemption date.

    

    

    “Reference Treasury Dealer” means (1) each of HSBC Securities (USA) Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC, or a
        Primary Treasury Dealer selected by any of them, and their respective successors and (2) a Primary Treasury Dealer selected by SMBC Nikko Securities America, Inc.; provided, however, that if any of the foregoing shall cease to be a primary U.S.
        Government securities dealer, which we refer to as a “Primary Treasury Dealer,” IBM Credit will substitute therefor another nationally recognized investment banking firm that is a Primary Treasury Dealer.

    

    

    “Remaining Scheduled Payments” means, with respect to each Note to be redeemed, the remaining scheduled payments of the principal
        thereof and interest thereon that would be due after the related redemption date but for such redemption; provided, however, that, if such redemption date is not an interest payment date with respect to such Note, the amount of the next succeeding
        scheduled interest payment thereon will be deemed to be reduced by the amount of interest accrued thereon to such redemption date.

    

    

    On and after the redemption date, interest will cease to accrue on the Notes or any portion thereof called for redemption, unless the
        Company defaults in the payment of the redemption price and accrued interest. On or before the redemption date, the Company will deposit with a Paying Agent, or the Trustee, money sufficient to pay the redemption price of and accrued interest on
        the Notes to be redeemed on such date. If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected by the Trustee by such method as the Trustee shall deem fair and appropriate.

    

    

    In case an Event of Default with respect to the Notes, as defined in the Indenture, shall have occurred and be continuing, the principal
        hereof together with interest accrued

     

      

  

  
    
      

  

   

    
     thereon, if any, may be declared, and upon such declaration shall become, due and payable, in the manner, with the effect and subject to the
        conditions provided in the Indenture.

    

    

    The Indenture contains provisions permitting the Company and the Trustee, with the consent of the holders of not less than a majority in
        aggregate principal amount of the Securities at the time outstanding of all series to be affected (acting as one class), to execute supplemental indentures adding any provisions to or changing in any manner or eliminating any of the provisions of
        the Indenture or of any supplemental indenture or modifying in any manner the rights of the holders of the Securities of such series to be affected; provided, however, that no such supplemental indenture shall, among other things, (i) change the
        fixed maturity of the principal of, or any installment of principal of or interest on, or the currency of payment of, any Security; (ii) reduce the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption
        thereof; (iii) impair the right to institute suit for the enforcement of any such payment on or after the fixed maturity thereof (or, in the case of redemption, on or after the redemption date); (iv) reduce the percentage in principal amount of the
        outstanding Securities of any series, the consent of whose holders is required for any such supplemental indenture, or the consent of whose holders is required for any waiver (of compliance with certain provisions of the Indenture or certain
        defaults thereunder and their consequences) provided for in the Indenture; (v) change any obligation of the Company, with respect to outstanding Securities of a series, to maintain an office or agency in the places and for the purposes specified in
        the Indenture for such series; or (vi) modify any of the foregoing provisions or the provisions for the waiver of certain covenants and defaults, except to increase any applicable percentage of the aggregate principal amount of outstanding
        Securities the consent of the holders of which is required or to provide with respect to any particular series the right to condition the effectiveness of any supplemental indenture as to that series on the consent of the holders of a specified
        percentage of the aggregate principal amount of outstanding Securities of such series or to provide that certain other provisions of the Indenture cannot be modified or waived without the consent of the holder of each outstanding Security affected
        thereby.  It is also provided in the Indenture that the holders of a majority in aggregate principal amount of the Securities of a series at the time outstanding may on behalf of the holders of all the Securities of such series waive any past
        default under the Indenture with respect to such series and its consequences, except a default in the payment of the principal of, premium, if any, or interest, if any, on any Security of such series or in respect of a covenant or provision which
        cannot be modified without the consent of the Holder of each outstanding Security of the series affected.  Any such consent or waiver by the holder of this Note shall be conclusive and binding upon such holder and upon all future holders and owners
        of this Note and any Notes which may be issued in exchange or substitution herefor, irrespective of whether or not any notation thereof is made upon this Note or such other Notes.

    

    

    No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the
        Company, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this Note at the place, at the respective times, at the rate and in the coin or currency herein prescribed.

    

    

    
      
        

    

    

    

    The Indenture permits the Company to Discharge its obligations with respect to the Notes on the 91st day following the satisfaction of
        the conditions set forth in the Indenture, which include the deposit with the Trustee of money or U.S. Government Obligations or a combination thereof sufficient to pay and discharge each installment of principal of (including premium, if any, on)
        and interest, if any, on the outstanding Notes.

    

    

    If the Company shall, in accordance with Section 901 of the Indenture, consolidate with or merge into any other Person or convey or
        transfer its properties and assets substantially as an entirety to any Person, the successor shall succeed to, and be substituted for, the Person named as the “Company” on the face of this Note, all on the terms set forth in the Indenture.

    

    

    The Notes are issuable in registered form without coupons in denominations of $100,000 and any integral multiple of $1,000 in excess
        thereof.  In the manner and subject to the limitations provided in the Indenture, but without the payment of any service charge, Notes may be exchanged for an equal aggregate principal amount of Notes of other authorized denominations at the office
        or agency of the Company maintained for such purpose in the Borough of Manhattan, The City and State of New York.

    

    

    Upon due presentation for registration of transfer of this Note at the office or agency of the Company for such registration in the
        Borough of Manhattan, The City and State of New York, or any other office or agency designated by the Company for such purpose, a new Note or Notes of authorized denominations for an equal aggregate principal amount will be issued to the transferee
        in exchange herefor, subject to the limitations provided in the Indenture, without charge except for any tax or other governmental charge imposed in connection therewith.

    

    

    Prior to due presentment for registration of transfer of this Note, the Company, the Trustee and any agent of the Company or the Trustee
        may deem and treat the registered holder hereof as the absolute owner of this Note (whether or not this Note shall be overdue) for the purpose of receiving payment of the principal of, premium, if any, and interest on this Note, as herein provided,
        and for all other purposes, and neither the Company nor the Trustee nor any agent of the Company or the Trustee shall be affected by any notice of the contrary.  All payments made to or upon the order of such registered holder shall, to the extent
        of the sum or sums paid, effectually satisfy and discharge liability for moneys payable on this Note.

    

    

    No recourse for the payment of the principal of, premium, if any, or interest on this Note, or for any claim based hereon or otherwise
        in respect hereof, and no recourse under or upon any obligation, covenant or agreement of the Company in the Indenture or any indenture supplemental thereto or in any Note, or because of the creation of any indebtedness represented thereby, shall
        be had against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or of any successor corporation, either directly or through the Company or any successor corporation, whether by virtue of any
        constitution, statute or rule of law or by the enforcement of any

     

      

     

  
    
      

  

   

  

    
    assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issue hereof,
        expressly waived and released.

    

    

    Unless otherwise defined in this Note, all terms used in this Note which are defined in the Indenture shall have the meanings assigned
        to them in the Indenture.

    

    

    THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.ICOX
INNOVATIONS INC.

(the “Issuer”)

 

PRIVATE
PLACEMENT SUBSCRIPTION AGREEMENT

(SHARES)

 

INSTRUCTIONS
TO SUBSCRIBER

 

	1.	You
    must complete all the information in the boxes on page 2 and sign where indicated with an “X”.
	 	 
	2.	You
    must complete and sign Exhibit A “Canadian Investor Questionnaire” that starts on page 15. The purpose of this
    form is to determine whether you meet the standards for participation in a private placement under applicable Canadian securities
    laws. In order for the Issuer to satisfy its obligations under applicable Canadian securities laws, you may be required to
    provide additional evidence to verify the information you have provided in Exhibit B.
	 	 
	3.	If
    you are a “U.S. Purchaser”, as defined in Exhibit C, and you are a current security holder of the Issuer or
    have a substantive pre-existing relationship with the Issuer you must complete and sign BOTH Exhibit A “Canadian
    Investor Questionnaire” that starts on page 16 AND Exhibit B “United States Accredited Investor Questionnaire”
    that starts on page 29.
	 	 
	4.	Unless
    you are subscribing through a person registered as a registered firm, registered individual or an exempt market dealer (each
    as defined in National Instrument 31-103 – Registration Requirements and Exemptions), or you are subscribing
    directly from the Issuer without the involvement of a finder, you must complete and sign Exhibit C “Risk Acknowledgement
    Form”, that starts on page 34.
	 	 
	5.	All
    subscription funds must be in U.S. Dollars.

 

    	 	 	 

    	 	- 2 -	 

    

 

ICOX
INNOVATIONS INC.

 

PRIVATE
PLACEMENT SUBSCRIPTION AGREEMENT

 

The
undersigned (the “Subscriber”) hereby irrevocably subscribes for and agrees to purchase from ICOX Innovations
Inc. (the “Issuer”) that number of shares of common stock of the Issuer (each, a “Share”)
set out below at a price of $1.00 per Share. The Subscriber agrees to be bound by the terms and conditions set forth in the attached
“Terms and Conditions of Subscription for Shares”.

 

 

    	 	 	 

    	 	- 3 -	 

    

 

ACCEPTANCE

 

The
Issuer hereby accepts the Subscription (as defined herein) on the terms and conditions contained in this private placement subscription
agreement (this “Agreement”) as of the _____ day of ___________, 2018 (the “Closing Date”).

 

	ICOX
    INNOVATIONS INC.	 
	 	 	 
	Per:	 	 
	 	Authorized
    Signatory	 

 

	Address:	4101
    Redwood Avenue, Building F	 
	 	Los
    Angeles, CA 90066	 
	Email:
    	 	 
	Attention:	Michael
    Blum	 

 

    	 	 	 

    	 	- 4 -	 

    

 

TERMS
AND CONDITIONS OF SUBSCRIPTION FOR SHARES

 

1.
Subscription

 

1.1
On the basis of the representations and warranties, and subject to the terms and conditions, set forth in this Agreement, the
Subscriber hereby irrevocably subscribes for and agrees to purchase such number of Shares as is set forth on page 2 of this Agreement
at a price of $1.00 per Shares for the Subscription Amount shown on page 2 of this Agreement, which is tendered herewith (such
subscription and agreement to purchase being the “Subscription”), and the Issuer agrees to sell the Shares
to the Subscriber, effective upon the Issuer’s acceptance of this Agreement.

 

1.2
The Subscriber acknowledges that the Shares have been offered to the Subscriber as part of an offering by the Issuer of additional
Shares to other subscribers for gross proceeds of up to $5,000,000 (or any such greater or lesser amount as may be determined
by the Issuer in its sole discretion) (the “Offering”).

 

1.3
All dollar amounts referred to in this Agreement are in lawful money of United States, unless otherwise indicated.

 

2.
Payment

 

2.1
The Subscription Amount must accompany this Subscription and will be paid wire transfer to the Issuer pursuant to wiring instructions
provided in Exhibit D at page 32. The Subscriber irrevocably authorizes the Clark Wilson LLP (the “Issuer’s Counsel”)
to immediately deliver the Subscription Amount to the Issuer upon receipt of the Subscription Amount from the Subscriber, notwithstanding
that such delivery may be made by the Issuer’s Counsel to the Issuer prior to the closing of the Offering (the “Closing”).
The Subscriber authorizes the Issuer to treat the Subscription Amount as an interest free loan until the Closing.

 

2.2
The Subscriber acknowledges and agrees that this Agreement, the Subscription Amount and any other documents or monies delivered
in connection herewith will be held by or on behalf of the Issuer. In the event that this Agreement is not accepted by the Issuer
for whatever reason, which the Issuer expressly reserves the right to do, the Issuer will return the Subscription Amount (without
interest thereon and less any wire charges) and any other documents delivered in connection herewith to the Subscriber at the
address of the Subscriber as set forth on page 2 of this Agreement, or as otherwise directed by the Subscriber.

 

3.
Documents Required from Subscriber

 

3.1
Prior to the Closing, the Subscriber must complete, sign and return to the Issuer the following documents:

 

	 	(a)	this
    Agreement;
	 	 	 
	 	(b)	the
    Canadian Investor Questionnaire (the “Canadian Questionnaire”) attached as Exhibit A that starts on page
    15, along with any additional evidence that may be requested by the Issuer to verify the information provided in the Canadian
    Questionnaire;
	 	 	 
	 	(c)	if
    the Subscriber is a U.S. Purchaser (as defined in Exhibit B), and you are a current security holder of the Issuer or have
    a substantive pre-existing relationship with the Issuer, the United States Accredited Investor Questionnaire (the “U.S.
    Questionnaire” and, together with the Canadian Questionnaire, the “Questionnaires”) attached
    as Exhibit B that starts on page 29 along with any additional evidence that may be requested by the Issuer to verify the information
    provided in the U.S. Questionnaire;
	 	 	 
	 	(d)	if
    the Subscriber is not subscribing through a person registered as a registered firm, registered individual or an exempt market
    dealer (each as defined in National Instrument 31-103 – Registration Requirements and Exemptions), or the Subscriber
    is acquiring the Shares directly from the Issuer without the involvement of a finder, the “Risk Acknowledgement Form”
    attached hereto as Exhibit C, which is on page 34; and
	 	 	 
	 	(e)	such
    other supporting documentation that the Issuer may request to establish the Subscriber’s qualification as a qualified
    investor,

 

and
the Subscriber acknowledges and agrees that the Issuer will not consider the Subscription for acceptance unless the Subscriber
has provided all of such documents to the Issuer.

 

    	 	 	 

    	 	- 5 -	 

    

 

3.2
As soon as practicable upon any request by the Issuer, the Subscriber will complete, sign and return to the Issuer any additional
documents, questionnaires, notices and undertakings as may be required by any regulatory authorities or applicable laws.

 

3.3
The Issuer and the Subscriber acknowledge and agree that the Issuer’s Counsel has acted as legal counsel only to the Issuer
and is not protecting the rights and interests of the Subscriber. The Subscriber acknowledges and agrees that the Issuer and the
Issuer’s Counsel have given the Subscriber the opportunity to seek, and are hereby recommending that the Subscriber obtain,
independent legal advice with respect to the subject matter of this Agreement, and the Subscriber hereby represents and warrants
to the Issuer and the Issuer’s Counsel that the Subscriber has sought such independent legal advice or waives such advice.

 

4.
Conditions and Closing

 

4.1
The Closing Date will occur on such date as may be determined by the Issuer in its sole discretion. The Issuer may, at its discretion,
elect to close the Offering in one or more closings.

 

4.2
The Closing is conditional upon and subject to:

 

	 	(a)	the
    Issuer having obtained all necessary approvals and consents, including applicable regulatory approvals, for the Offering;
	 	 	 
	 	(b)	the
    issue and sale of the Shares being exempt from the requirement to file a prospectus and the requirement to deliver an offering
    memorandum under applicable securities laws relating to the sale of the Shares, or the Issuer having received such orders,
    consents or approvals as may be required to permit such sale without the requirement to file a prospectus or deliver an offering
    memorandum; and
	 	 	 
	 	(c)	the
    Issuer having obtained the approval of any stock exchange upon which the Shares are then listed and trading, if applicable,
    for the Offering.

 

4.3
The Subscriber acknowledges that a certificate or direct registration statement representing the Shares will be available for
delivery within five business days of the Closing Date, provided that the Subscriber has satisfied the requirements of Section
3 hereof and the Issuer has accepted this Agreement.

 

    	 	 	 

    	 	- 6 -	 

    

 

5.
Acknowledgements and Agreements of the Subscriber

 

5.1
The Subscriber acknowledges and agrees that:

 

	 	(a)	except
    as provided in this Agreement, none of the Shares have been or will be registered under the United States Securities Act
    of 1933, as amended (the “1933 Act”), or under any securities or “blue sky” laws of any
    state of the United States, and, unless so registered, may not be offered or sold in the United States or, directly or indirectly,
    to any U.S. Person (as defined in Section 6.2), except in accordance with the provisions of Regulation S under the 1933 Act
    (“Regulation S”), pursuant to an effective registration statement under the 1933 Act, or pursuant to an
    exemption from, or in a transaction not subject to, the registration requirements of the 1933 Act, and in each case only in
    accordance with applicable state, provincial and foreign securities laws;
	 	 	 
	 	(b)	hedging
    transactions involving the Shares may not be conducted unless such transactions are in compliance with the provisions of the
    1933 Act and in each case only in accordance with applicable securities laws;
	 	 	 
	 	(c)	the
    Issuer has not undertaken, and will have no obligation, to register any of the Shares under the 1933 Act or any other applicable
    securities laws;
	 	(d)	the
    Issuer will refuse to register the transfer of any of the Shares to a U.S. Person not made pursuant to an effective registration
    statement under the 1933 Act or pursuant to an available exemption from the registration requirements of the 1933 Act, and
    in each case in accordance with all applicable laws;
	 	 	 
	 	(e)	the
    decision to execute this Agreement and to acquire the Shares has not been based upon any oral or written representation as
    to fact or otherwise made by or on behalf of the Issuer and such decision is based entirely upon a review of any public information
    which has been filed by the Issuer with the United States Securities and Exchange Commission (the “SEC”)
    or EDGAR at www.sec.gov (collectively, the “Public Record”);
	 	 	 
	 	(f)	the
    Issuer has not solicited the Subscriber using any registration statement filed by the Issuer with the SEC and the Subscriber
    has not reviewed or relied on such registration statement in connection with the Subscribers decision to invest in the Shares;
	 	 	 
	 	(g)	the
    Issuer and others will rely upon the truth and accuracy of the acknowledgements, representations, warranties, covenants and
    agreements of the Subscriber contained in this Agreement and the Questionnaires, as applicable, and the Subscriber agrees
    that if any of such acknowledgements, representations and agreements are no longer accurate or have been breached, the Subscriber
    will promptly notify the Issuer;
	 	 	 
	 	(h)	there
    are risks associated with the purchase of the Shares, as more fully described in this Agreement and the Issuer’s periodic
    disclosure forming part of the Public Record;
	 	 	 
	 	(i)	the
    Subscriber and the Subscriber’s advisor(s) have had a reasonable opportunity to ask questions of and receive answers
    from the Issuer in connection with the distribution of the Shares hereunder, and to obtain additional information, to the
    extent possessed or obtainable without unreasonable effort or expense, necessary to verify the accuracy of the information
    about the Issuer;

 

    	 	 	 

    	 	- 7 -	 

    

 

	 	(j)	a
    portion of this Offering may be sold pursuant to an agreement between the Issuer and one or more agents registered in accordance
    with applicable securities laws, in which case the Issuer will pay a fee and/or compensation securities on terms as set out
    in such agreement;
	 	 	 
	 	(k)	finder’s
    fees or broker’s commissions may be payable by the Issuer to finders who introduce subscribers to the Issuer;
	 	 	 
	 	(l)	the
    books and records of the Issuer were available upon reasonable notice for inspection, subject to certain confidentiality restrictions,
    by the Subscriber during reasonable business hours at its principal place of business, and all documents, records and books
    in connection with the distribution of the Shares hereunder have been made available for inspection by the Subscriber, the
    Subscriber’s legal counsel and/or the Subscriber’s advisor(s);
	 	 	 
	 	(m)	all
    of the information which the Subscriber has provided to the Issuer is correct and complete, and if there should be any change
    in such information prior to the Closing, the Subscriber will immediately notify the Issuer, in writing, of the details of
    any such change;
	 	 	 
	 	(n)	the
    Issuer is entitled to rely on the representations and warranties of the Subscriber contained in this Agreement and the Questionnaires,
    as applicable;
	 	 	 
	 	(o)	any
    resale of the Shares by the Subscriber will be subject to resale restrictions contained in the securities laws applicable
    to the Issuer, the Subscriber and any proposed transferee, and it is the responsibility of the Subscriber to find out what
    those restrictions are and to comply with such restrictions before selling any of the Shares;
	 	 	 
	 	(p)	the
    Subscriber has been advised to consult the Subscriber’s own legal, tax and other advisors with respect to the merits
    and risks of an investment in the Shares and with respect to applicable resale restrictions, and the Subscriber is solely
    responsible (and the Issuer is not in any way responsible) for compliance with any applicable:

 

	 	(i)	laws
    of the jurisdiction in which the Subscriber is resident in connection with the distribution of the Shares hereunder, and
	 	 	 
	 	(ii)	resale
    restrictions;

 

	 	(q)	there
    may be material tax consequences to the Subscriber for any acquisition or disposition
    of the Shares and the Issuer gives
    no opinion and makes no representation to the Subscriber with respect to the tax consequences to the Subscriber under
    federal, state, provincial, local or foreign tax laws that may apply to the Subscriber’s acquisition
    or disposition of the Shares;
	 	 	 
	 	(r)	the
    Subscriber consents to the placement of a legend or legends on any certificate or other document evidencing any of the Shares
    setting forth or referring to the restrictions on transferability and sale thereof contained in this Agreement, with such
    legend(s) to be substantially as follows (although the Subscriber acknowledges that the hold period on the Shares will be
    six months):

 

UNLESS
PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THESE SECURITIES SHALL NOT TRADE THE SECURITIES BEFORE [four months and
one day from the Closing Date.];

 

    	 	 	 

    	 	- 8 -	 

    

 

If
the Subscriber is not resident in the United States:

 

THE
SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN OFFSHORE TRANSACTION TO A PERSON WHO IS NOT A U.S. PERSON (AS DEFINED HEREIN)
PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).

 

NONE
OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO
REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS EXCEPT
IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE
1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING
THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT. “UNITED STATES” AND “U.S. PERSON”
ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.

 

If
the Subscriber is resident in the United States:

 

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

 

	 	(s)	the
    Issuer has advised the Subscriber that the Issuer is relying on an exemption from the requirements to provide the Subscriber
    with a prospectus and to sell the Shares through a person registered to sell securities under Canadian securities laws, and,
    as a consequence of acquiring the Shares pursuant to such exemption, certain protections, rights and remedies provided by
    applicable securities laws (including the various provincial securities acts), including statutory rights of rescission or
    damages, will not be available to the Subscriber;
	 	 	 
	 	(t)	no
    securities commission or similar regulatory authority has reviewed or passed on the merits of any of the Shares;
	 	 	 
	 	(u)	there
    is no government or other insurance covering any of the Shares; and
	 	 	 
	 	(v)	this
    Agreement is not enforceable by the Subscriber unless it has been accepted by the Issuer and the Issuer reserves the right
    to reject this Subscription for any reason.

 

    	 	 	 

    	 	- 9 -	 

    

 

6.
Representations and Warranties of the Subscriber

 

6.1
The Subscriber hereby represents and warrants to the Issuer (which representations and warranties will survive the Closing) that:

 

	 	(a)	unless
    the Subscriber has completed Exhibit B, the Subscriber is not a U.S. Person;
	 	 	 
	 	(b)	the
    Subscriber is resident in the jurisdiction set out on page 2 of this Agreement;
	 	 	 
	 	(c)	if
    the Subscriber is resident outside of Canada:

 

	 	(i)	the
    Subscriber is knowledgeable of, or has been independently advised as to, the applicable securities laws having application
    in the jurisdiction in which the Subscriber is resident (the “International Jurisdiction”) which would
    apply to the offer and sale of the Shares and the Subscriber will comply with all laws of the International Jurisdiction,
	 	 	 
	 	(ii)	the
    Subscriber is purchasing the Shares pursuant to exemptions from prospectus or equivalent requirements under applicable laws
    or, if such is not applicable, the Subscriber is permitted to purchase the Shares under applicable securities laws of the
    International Jurisdiction without the need to rely on any exemptions,
	 	 	 
	 	(iii)	the
    applicable securities laws of the International Jurisdiction do not require the Issuer to make any filings or seek any approvals
    of any kind from any securities regulator of any kind in the International Jurisdiction in connection with the offer, issue,
    sale or resale of any of the Shares,
	 	 	 
	 	(iv)	the
    purchase of the Shares by the Subscriber does not trigger:

 

	 	A.	any
    obligation to prepare and file a prospectus or similar document, or any other report with respect to such purchase in the
    International Jurisdiction, or
	 	 	 
	 	B.	any
    continuous disclosure reporting obligation of the Issuer in the International Jurisdiction, and

 

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

 

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

 

    	 	 	 

    	 	- 10 -	 

    

 

	 	(e)	the
    entering into of this Agreement and the transactions contemplated hereby do not result in the violation of any of the terms
    and provisions of any law applicable to, or, if applicable, the constating documents of, the Subscriber or of any agreement,
    written or oral, to which the Subscriber may be a party or by which the Subscriber is or may be bound;
	 	 	 
	 	(f)	the
    Subscriber has duly executed and delivered this Agreement and it constitutes a valid and binding agreement of the Subscriber
    enforceable against the Subscriber in accordance with its terms;
	 	 	 
	 	(g)	the
    Subscriber has received and carefully read this Agreement;
	 	 	 
	 	(h)	the
    Subscriber is aware that an investment in the Issuer is speculative and involves certain risks, including those risks disclosed
    in the Public Record and the possible loss of the entire Subscription Amount;
	 	 	 
	 	(i)	the
    Subscriber has made an independent examination and investigation of an investment in the Shares and the Issuer and agrees
    that the Issuer will not be responsible in any way for the Subscriber’s decision to invest in the Shares and the Issuer;
	 	 	 
	 	(j)	the
    Subscriber is not an underwriter of, or dealer in, any of the Shares, nor is the Subscriber participating, pursuant to a contractual
    agreement or otherwise, in the distribution of the Shares;
	 	 	 
	 	(k)	the
    Subscriber is not aware of any advertisement of any of the Shares and is not acquiring the Shares as a result of any form
    of general solicitation or general advertising, including advertisements, articles, notices or other communications published
    in any newspaper, magazine or similar media, or broadcast over radio or television, or any seminar or meeting whose attendees
    have been invited by general solicitation or general advertising; and
	 	 	 
	 	(l)	no
    person has made to the Subscriber any written or oral representations:
	 	 	 
	 		(i)	that
    any person will resell or repurchase any of the Shares,
	 	 	 
	 		(ii)	that
    any person will refund the purchase price of any of the Shares, or
	 	 	 
	 		(iii)	as
    to the future price or value of any of the Shares.

 

6.2
In this Agreement, the term “U.S. Person” will have the meaning ascribed thereto in Regulation S, and for the
purpose of this Agreement includes, but is not limited to: (a) any person in the United States; (b) any natural person resident
in the United States; (c) any partnership or corporation organized or incorporated under the laws of the United States; (d) any
partnership or corporation organized outside the United States by a U.S. Person principally for the purpose of investing in securities
not registered under the 1933 Act, unless it is organized or incorporated, and owned, by accredited investors who are not natural
persons, estates or trusts; or (e) any estate or trust of which any executor or administrator or trustee is a U.S. Person.

 

    	 	 	 

    	 	- 11 -	 

    

 

7.
Representations and Warranties of the Issuer

 

7.1
By executing this Subscription Agreement, the Issuer represents, warrants and covenants to the Subscriber, which representations,
warranties and covenants will be true and correct as of the Closing with the same force and effect as if made at and as of the
Closing (and acknowledges that the Subscriber is relying thereon) that:

 

	 	(a)	the
    Issuer has been duly incorporated and organized and is a valid and subsisting company under the laws of the State of Nevada,
    and is duly qualified to carry on business in each jurisdiction wherein the carrying out of the activities contemplated makes
    such qualifications necessary;
	 	 	 
	 	(b)	the
    Shares will be, upon receipt by the Issuer of full payment therefor, validly issued, as fully paid and non-assessable;
	 	 	 
	 	(c)	the
    Issuer has the full corporate right, power and authority to execute this Subscription Agreement, and to issue the Shares to
    the Subscriber pursuant to the terms of this Agreement; and
	 	 	 
	 	(d)	this
    Agreement constitutes a binding and enforceable obligation of the Issuer, enforceable in accordance with its terms.

 

8.
Representations and Warranties will be Relied Upon by the Issuer

 

8.1
The Subscriber acknowledges and agrees that the representations and warranties contained in this Agreement are made by it with
the intention that such representations and warranties may be relied upon by the Issuer and the Issuer’s Counsel in determining
the Subscriber’s eligibility to purchase the Shares under applicable laws, or, if applicable, the eligibility of others
on whose behalf the Subscriber is contracting hereunder to purchase the Shares under applicable laws. The Subscriber further agrees
that, upon issuance of the Shares, it will be representing and warranting that the representations and warranties contained herein
are true and correct as at the Closing Date, and as at the date of any issuance of Shares hereunder, with the same force and effect
as if they had been made by the Subscriber at such date and that they will survive the purchase by the Subscriber of the Shares
and will continue in full force and effect notwithstanding any subsequent disposition by the Subscriber of any of the Shares.

 

9.
Acknowledgement and Waiver

 

9.1
The Subscriber has acknowledged that the decision to acquire the Shares was solely made on the basis of the Public Record.

 

    	 	 	 

    	 	- 12 -	 

    

 

10.
Collection of Personal Information

 

10.1
The Subscriber acknowledges and consents to the fact that the Issuer is collecting the Subscriber’s personal information
(as that term is defined under applicable privacy legislation, including, without limitation, the Personal Information Protection
and Electronic Documents Act, S.C. 2000, c. 5 and any other applicable similar, replacement or supplemental provincial or
federal laws in effect from time to time) for the purpose of fulfilling this Agreement and completing the Offering. The Subscriber
acknowledges that its personal information (and, if applicable, the personal information of those on whose behalf the Subscriber
is contracting hereunder) may be included in record books in connection with the Offering and may be disclosed by the Issuer to:
(a) stock exchanges or securities regulatory authorities, (b) the Issuer’s registrar and transfer agent, (c) Canadian or
international tax authorities, (d) authorities pursuant to the Proceeds of Crime (Money Laundering) and Terrorist Financing
Act (Canada) or similar legislation of other countries, and (e) any of the other parties involved in the Offering, including
the Issuer’s Counsel. In addition to the foregoing, the Subscriber agrees and acknowledges that the Issuer may use and disclose
the Subscriber’s personal information as follows: (i) for internal use with respect to managing the relationships between
and contractual obligations of the Issuer with the Subscriber (ii) for use and disclosure for income tax related purposes, including,
without limitation, where required by law, disclosure to the Canada Revenue Agency; (iii) for disclosure to securities regulatory
authorities and other regulatory bodies with jurisdiction with respect to reports of trades and similar regulatory filings; (iv)
for disclosure to a government or other authority to which the disclosure is required by court order or subpoena compelling such
disclosure and where there is no reasonable alternative to such disclosure (v) for disclosure to personal advisers of the Issuer
and connection with the performance of their professional services; (vi) for disclosure to any person where such disclosure is
necessary for legitimate business reasons and is made with the Subscriber’s prior written consent; (vii) for disclosure
to a court determining the rights of the parties under this Agreement; or (viii) for use and disclosure as otherwise required
or permitted by law. By executing this Agreement, the Subscriber is deemed to be consenting to the foregoing collection, use and
disclosure of the Subscriber’s personal information (and, if applicable, the personal information of those on whose behalf
the Subscriber is contracting hereunder) for the foregoing purposes, and such other purposes as may be determined by the Issuer
in order to comply with applicable laws, and to the retention of such personal information for as long as permitted or required
by applicable laws. Notwithstanding that the Subscriber may be purchasing the Shares as agent on behalf of an undisclosed principal,
the Subscriber agrees to provide, on request, particulars as to the nature and identity of such undisclosed principal, and any
interest that such undisclosed principal has in the Issuer, all as may be required by the Issuer in order to comply with the foregoing.

 

10.2
The Subscriber is hereby notified that:

 

	 	(a)	the
    Issuer may deliver to any securities commission or other governmental authority having jurisdiction over the Issuer, the Subscriber
    or this Subscription, including any Canadian securities commissions, the SEC and/or any state securities commissions (collectively,
    the “Commissions”), certain personal information pertaining to the Subscriber, including the Subscriber’s
    full name, residential address and telephone number, the number of Shares or other securities of the Issuer owned by the Subscriber,
    the number of Shares purchased by the Subscriber, the total Subscription Amount, the prospectus exemption relied on by the
    Issuer and the date of distribution of the Shares;
	 	 	 
	 	(b)	such
    information is being collected indirectly by the Commissions under the authority granted to them by applicable securities
    laws; and
	 	 	 
	 	(c)	such
    information is being collected for the purposes of the administration and enforcement of applicable securities laws.

 

11.
Anti-Money Laundering

 

11.1
The Subscription Amount, which will be advanced by the Subscriber to the Issuer hereunder, does not and will not represent the
proceeds of crime for the purposes of the Proceeds of Crim (Money Laundering) and Terrorist Financing Act (Canada), S.C.
2000, c. 17 (the “PCMLTFA”) or similar legislation of any other applicable jurisdiction, and the Subscriber
acknowledges that the Issuer may in the future be required by law to disclose the name of the Subscriber and other information
relating to this Agreement and the subscription hereunder, on a confidential basis, pursuant to the PCMLTFA or such similar legislation.
To the best of the Subscriber’s knowledge:

 

	 	(a)	none
    of the subscription funds provided by the Subscriber have been or will be derived directly or indirectly from or related to
    any activity that is deemed criminal under the laws of Canada, the United States of America, or any other jurisdiction, or
    are being rendered on behalf of a person or entity who has not been identified to the Subscriber; and
	 	 	 
	 	(b)	the
    Subscriber will promptly notify the Issuer if it discovers that any of such representations cease to be true and to provide
    the Issuer with appropriate information in connection therewith.

 

    	 	 	 

    	 	- 13 -	 

    

 

12.
Costs

 

12.1
The Subscriber acknowledges and agrees that all costs and expenses incurred by the Subscriber (including any fees and disbursements
of any legal counsel or other advisor retained by the Subscriber) relating to the purchase of the Shares will be borne by the
Subscriber.

 

13.
Governing Law

 

13.1
This Agreement, and all matters related hereto or arising herefrom, are and will be, governed by the laws of the State of Nevada
and the federal laws of the United States applicable therein.

 

14.
Survival

 

14.1
This Agreement, including, without limitation, the representations, warranties and covenants contained herein, will survive and
continue in full force and effect and be binding upon the Issuer and the Subscriber, notwithstanding the completion of the acquisition
of the Shares by the Subscriber.

 

15.
Assignment

 

15.1
This Agreement is not transferable or assignable.

 

16.
Severability

 

16.1
The invalidity or unenforceability of any particular provision of this Agreement will not affect or limit the validity or enforceability
of the remaining provisions of this Agreement.

 

17.
Entire Agreement

 

17.1
Except as expressly provided in this Agreement and in the exhibits, agreements, instruments and other documents attached hereto
or contemplated or provided for herein, this Agreement contains the entire agreement between the parties with respect to the sale
of the Shares and there are no other terms, conditions, representations or warranties, whether expressed, implied, oral or written,
by statute or common law, by or of the Issuer, the Subscriber or anyone else.

 

18.
Notices

 

18.1
All notices and other communications hereunder will be in writing and will be deemed to have been duly given if mailed or transmitted
by any standard form of telecommunication, including email or other means of electronic communication capable of producing a printed
copy. Notices to the Subscriber will be directed to it at the address or email address of the Subscriber set forth on page 2 of
this Agreement and notices to the Issuer will be directed to it at the address of the Issuer set forth on page 3 of this Agreement.

 

19.
Beneficial Subscribers

 

19.1
Whether or not explicitly stated in this Agreement, any acknowledgement, representation, warranty, covenant or agreement made
by the Subscriber in this Agreement, including the exhibits hereto, will be treated as if made by the Disclosed Principal, if
any.

 

20.
Execution of Subscription Agreement

 

20.1
The Issuer and the Issuer’s Counsel will be entitled to rely on delivery by facsimile machine or other means of electronic
communication capable of producing a printed copy of an executed copy of this Agreement, and acceptance by the Issuer of such
facsimile or electronic copy will be equally effective to create a valid and binding agreement between the Subscriber and the
Issuer in accordance with the terms hereof. If less than a complete copy of this Agreement is delivered to the Issuer or the Issuer’s
Counsel prior to or at Closing, the Issuer and the Issuer’s Counsel are entitled to assume that the Subscriber accepts and
agrees to all of the terms and conditions of the pages not delivered prior to or at Closing unaltered.

 

21.
Counterparts and Electronic Means

 

21.1
This Agreement may be executed in any number of counterparts, each of which, when so executed and delivered, will constitute an
original and all of which together will constitute one instrument. Delivery of an executed copy of this Agreement by email or
other means of electronic communication capable of producing a printed copy will be deemed to be execution and delivery of this
Agreement as of the Closing.

 

22.
Exhibits

 

22.1
The exhibits attached hereto form part of this Agreement.

 

    	 	 	 

    	 	- 14 -	 

    

 

EXHIBIT
A

 

CANADIAN
INVESTOR QUESTIONNAIRE

 

Capitalized
terms used in this Canadian Investor Questionnaire (this “Questionnaire”) and not specifically defined have
the meaning ascribed to them in the Private Placement Subscription Agreement between the Subscriber (as defined herein) and ICOX
Innovations Inc. (the “Issuer”) to which this Exhibit A is attached with respect to the purchase of shares
of common stock of the Issuer (the “Shares”).

 

In
connection with the purchase by the Subscriber (being the undersigned, or if the undersigned is purchasing the Shares as agent
on behalf of a disclosed beneficial Subscriber, such beneficial Subscriber, will be referred herein as the “Subscriber”)
of the Shares, the Subscriber hereby represents, warrants and certifies to the Issuer that the Subscriber:

 

	(i)	is
    purchasing the Shares as principal (or deemed principal under the terms of National Instrument 45-106 – Prospectus
    Exemptions adopted by the Canadian Securities Administrators (“NI 45-106”));
	 	 	 
	(ii)	(A)
    	is
    resident in or is subject to the laws of one of the following (check one):

 

	[  ]
    Alberta	[  ]
    New Brunswick	[  ]
    Prince Edward Island
	 	 	 
	[  ]
    British Columbia	[  ]
    Nova Scotia	[  ]
    Quebec
	 	 	 
	[  ]
    Manitoba	[  ]
    Ontario	[  ]
    Saskatchewan
	 	 	 
	[  ]
    Newfoundland and Labrador	[  ]
    Yukon	 
	 	 	 
	[  ]
    Northwest Territories	 	 
	 	 	 
	[  ]
    United States: _________________________ (List State of Residence)

or

 

	 	(B)	[  ]
    is resident in a country other than Canada or the United States; and
	 	 	 
	(iii)	has
    not been provided with any offering memorandum in connection with the purchase of the Shares.

 

	The
    Subscriber became aware of and interested in the Offering as a result of: 	                                                                           
	 
	 
	(insert
    description of how the Subscriber became aware of the Offering)

 

    	 	 	 

    	 	- 15 -	 

    

 

In
connection with the purchase of the Shares, the Subscriber hereby represents, warrants, covenants and certifies that the Subscriber
meets one or more of the following criteria:

 

	 	I.	SUBSCRIBERS
    PURCHASING UNDER THE “ACCREDITED INVESTOR” EXEMPTION
	 	 	 
	 	(a)	the
    Subscriber is not a trust company or trust company registered under the laws of Prince Edward Island that is not registered
    or authorized under the Trust and Loan Companies Act (Canada) or under comparable legislation in another jurisdiction
    of Canada,
	 	 	 	 	 	 
	 	(b)	_______ the
    Subscriber is an “accredited investor” within the meaning of NI 45-106, by virtue of satisfying the indicated
    criterion below (YOU MUST INITIAL OR PLACE A CHECK-MARK ON THE APPROPRIATE LINE(S)) (see certain guidance with
    respect     to accredited investors that starts on page 20 below)
	 	 	 
	 		[  ]	(i)	except
    in Ontario, a person registered under the securities legislation of a jurisdiction of Canada as an adviser or dealer,
	 	 	 	 	 
	 		[  ]	(ii)	an
    individual registered under the securities legislation of a jurisdiction of Canada as a representative of a person referred
    to in paragraph (i),
	 	 	 	 	 
	 		[  ]	(iii)	an
    individual formerly registered under the securities legislation of a jurisdiction of Canada, other than an individual formerly
    registered solely as a representative of a limited market dealer under one or both of the Securities Act (Ontario)
    or the Securities Act (Newfoundland and Labrador),
	 	 	 	 	 
	 		[  ]	(iv)	an
    individual who, either alone or with a spouse, beneficially owns financial assets having an aggregate realizable value that,
    before taxes but net of any related liabilities, exceeds $1,000,000 (YOU MUST ALSO COMPLETE AND SIGN APPENDIX “A”
    TO THIS QUESTIONNAIRE THAT STARTS ON PAGE 27),
	 	 	 	 	 
	 		[  ]	(v)	an
    individual who beneficially owns financial assets having an aggregate realizable value that, before taxes but net of any related
    liabilities, exceeds $5,000,000,
	 	 	 	 	 
	 		[  ]	(vi)	an
    individual whose net income before taxes exceeded $200,000 in each of the 2 most recent calendar years or whose net income
    before taxes combined with that of a spouse exceeded $300,000 in each of the 2 most recent calendar years and who, in either
    case, reasonably expects to exceed that net income level in the current calendar year (YOU MUST ALSO COMPLETE AND SIGN
    APPENDIX “A” TO THIS QUESTIONNAIRE THAT STARTS ON PAGE 27),
	 	 	 	 	 
	 		[  ]	(vii)	an
    individual who, either alone or with a spouse, has net assets of at least $5,000,000 (YOU MUST ALSO COMPLETE AND SIGN APPENDIX
    “A” TO THIS QUESTIONNAIRE THAT STARTS ON PAGE 27),
	 	 	 	 	 
	 		[  ]	(viii)	a
    person, other than an individual or investment fund, that has net assets of at least $5,000,000 as shown on its most recently
    prepared financial statements and that has not been created or used solely to purchase or hold securities as an accredited
    investor as defined in this paragraph (viii),
	 	 	 	 	 
	 		[  ]	(ix)	an
    investment fund that distributes or has distributed its securities only to:
	 	 	 	 	 
	 	 	 	 	(i)	a
    person that is or was an accredited investor at the time of the distribution,
	 	 	 	 	 	 
	 	 	 	 	(ii)	a
    person that acquires or acquired securities in the circumstances referred to in Sections 2.10 [Minimum amount investment]
    of NI 45-106, or 2.19 [Additional investment in investment funds] of NI 45-106, or
	 	 	 	 	 	 
	 	 	 	 	(iii)	a
    person described in paragraph (i) or (ii) that acquires or acquired securities under Section 2.18 [Investment fund reinvestment]
    of NI 45-106,
	 	 	 	 	 	 
	 		[  ]	(x)	an
    investment fund that distributes or has distributed securities under a prospectus in a jurisdiction of Canada for which the
    regulator or, in Québec, the securities regulatory authority, has issued a receipt,

 

    	 	 	 

    	 	- 16 -	 

    

 

	 	 	[  ]	(xi)	a
    trust company or trust corporation registered or authorized to carry on business under the Trust and Loan Companies Act
    (Canada) or under comparable legislation in a jurisdiction of Canada or a foreign jurisdiction, acting on behalf of a
    fully managed account managed by the trust company or trust corporation, as the case may be,
	 	 	 	 	 
	 	 	[  ]	(xii)	a person acting
    on behalf of a fully managed account managed by that person, if that person is registered or authorized to carry on business
    as an adviser or the equivalent under the securities legislation of a jurisdiction of Canada or a foreign jurisdiction, 
	 	 	 	 	 
	 	 	[  ]	(xiii)	a registered charity
    under the Income Tax Act (Canada) that, in regard to the trade, has obtained advice from an eligibility adviser or
    an adviser registered under the securities legislation of the jurisdiction of the registered charity to give advice on the
    securities being traded, 
	 	 	 	 	 
	 	 	[  ]	(xiv)	an entity organized
    in a foreign jurisdiction that is analogous to the entity referred to in paragraph (i) in form and function, or 
	 	 	 	 	 
	 	 	[  ]	(xv)	a person in respect
    of which all of the owners of interests, direct, indirect or beneficial, except the voting securities required by law to be
    owned by directors, are persons that are accredited investors, and

 

		(c)	if
    the Subscriber is an “accredited investor” within the meaning of NI 45-106 by virtue of satisfying the indicated
    criterion as set out in paragraphs (iv), (vi) or (vii) above, the Subscriber has provided the Issuer with the signed risk
    acknowledgment form set out in Appendix “A” to this Questionnaire;

 

	 	II.	SUBSCRIBERS
    PURCHASING UNDER THE “FAMILY, FRIENDS AND BUSINESS ASSOCIATES” EXEMPTION

 

	 	(a)	the
    Subscriber is (please initial or place a check-mark on the appropriate line below and provide the requested information, as
    applicable):
	 	 	 
	 	 	[  ]	(xvi)	a
    director, executive officer or control person of the Issuer, or of an affiliate of the Issuer,
	 	 	 	 	 
	 	 	[  ]	(xvii)	a
    spouse, parent, grandparent, brother, sister, child or grandchild of _________________________________ (print name of person),
    who is a director, executive officer or control person of the Issuer or of an affiliate of the Issuer,
	 	 	 	 	 
	 	 	[  ]	(xviii)	a
    parent, grandparent, brother, sister, child or grandchild of the spouse of ___________________________________ (print name
    of person), who is a director, executive officer or control person of the Issuer or of an affiliate of the Issuer,
	 	 	 	 	 
	 	 	[  ]	(xix)	           
     a close personal friend (see guidance on making this determination that starts on page 24 below) of ___________________________________
    (print name of person), who is a director, executive officer, founder or control person of the Issuer, or of an affiliate
    of the Issuer, and has been for __________________________ years based on the following factors:
	 	 	 	 	 
		 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	(explain
    the nature of the close personal friendship),

 

    	 	 	 

    	 	- 17 -	 

    

 

	 	[  ]	(xx)	a close business associate (see guidance on making this determination that starts on page 24 below) of ___________________________________ (print name of person), who is a director, executive officer, founder or control person of the Issuer, or of an affiliate of the Issuer, and has been for __________________________ years based on the following factors 
 ______________________________________________________________________________
 ______________________________________________________________________________

                                                                              ______________________________________________________________________________

                                                                              ____________________________________________________(explain
the nature of the close business association),

	 	 	 	 
	 	[  ]	(xxi)	a
        founder of the Issuer or a spouse, parent, grandparent, brother, sister, child, grandchild, close personal friend or close
        business associate (see guidance on making these determinations that starts on page 24 below) of ________________________________
        (print name of person), who is a founder of the Issuer, and, if a close personal friend or close business associate
        of such person, has been for __________________________ years based on the following factors:

                                                         ______________________________________________________________________________

                                                         ______________________________________________________________________________ 

                                                         ______________________________________________________________________________ 

                                                         __________________________________________________________________ (explain
                                                         the nature of the close personal friendship or business association),

	 	 	 	 
	 	[  ]	(xxii)	a
    parent, grandparent, brother, sister, child or grandchild of the spouse of ______________________________ (print name of
    person), who is a founder of the Issuer,
	 	 	 	 
	 	[  ]	(xxiii)	a
    company of which a majority of the voting securities are beneficially owned by, or a majority of the directors are, persons
    or companies described in subsections II(a)(i) to II(a)(vii) above, or
	 	 	 	 
	 	[  ]	(xxiv)	a
    trust or estate of which all of the beneficiaries or a majority of the trustees or executors are persons or companies described
    in subsections II(a)(i) to II(a)(viii) above, 
	 	 	 	 
	(b)	if
    the Subscriber is resident in the Province of Ontario or is subject to the securities laws of the Province of Ontario, the
    Subscriber has provided the Issuer with a signed risk acknowledgement form (to be provided by the Issuer on request),
    and
	 	 
	(c)	if
    the Subscriber is resident in the Province of Saskatchewan or is subject to the securities laws of the Province of Saskatchewan,
    and the Subscriber is relying on the indicated criterion as set out in subsections II(a)(iv), II(a)(v) or II(a)(viii) or II(a)(ix)
    if the distribution is based in whole or in part on a close personal friendship or a close business association, the Subscriber
    has provided the Issuer with a signed risk acknowledgement form (to be provided by the Issuer on request).

 

    	 	 	 

    	 	- 18 -	 

    

 

	III.	SUBSCRIBERS
    PURCHASING UNDER THE “EMPLOYEE, EXECUTIVE OFFICER, DIRECTOR AND CONSULTANT” EXEMPTION

 

	(a)	the
    Subscriber is (please initial or place a check-mark on the appropriate line below):
	 	 
	 	[  ]	(i)	an
    employee, executive officer, director or consultant of the Issuer;
	 	 	 	 
	 	[  ]	(ii)	an
    employee, executive officer, director or consultant of a related entity of the Issuer; or
	 	 	 	 
	 	[  ]	(iii)	a
    permitted assign of a person referred to in paragraphs (a)(i) or (a)(ii); and
	 	 	 	 
	(b)	the
    Subscriber covenants, represents and warrants to the Issuer that:
	 	 
	 	 	(i)	in
    the case of a Subscriber that is an employee or an employee’s permitted assign, the Subscriber is not induced to participate
    in the distribution by expectation of employment or continued employment of the employee with the Issuer or a related entity
    of the Issuer;
	 	 	 	 
	 	 	(ii)	in
    the case of a Subscriber that is an executive officer or an executive officer’s permitted assign, the Subscriber is
    not induced to participate in the distribution by expectation of appointment, employment, continued appointment or continued
    employment of the executive officer with the Issuer or a related entity of the Issuer;
	 	 	 	 
	 	 	(iii)	in
    the case of a Subscriber that is a consultant or a consultant’s permitted assign, the Subscriber is not induced to participate
    in the distribution by expectation of engagement of the consultant to provide services or continued engagement of the consultant
    to provide services to the Issuer or a related entity of the Issuer; or
	 	 	 	 
	 	 	(iv)	in
    the case of a Subscriber that is an employee of a consultant, the Subscriber is not induced by the Issuer, a related entity
    of the Issuer, or the consultant to participate in the distribution by expectation of employment or continued employment with
    the consultant.

 

	IV.	MINIMUM
    AMOUNT INVESTMENT 

 

	(a)	the
    Subscriber is not an individual as that term is defined in applicable Canadian securities laws,
	 	 
	(b)	the
    Subscriber is purchasing the Shares as principal for its own account and not for the benefit of any other person,
	 	 
	(c)	the
    Shares have an acquisition cost to the Subscriber of not less than $150,000, payable in cash at the Closing, and
	 	 
	(d)	the
    Subscriber was not created and is not being used solely to purchase or hold securities in reliance on the prospectus exemption
    provided under Section 2.10 of NI 45-106, it pre-existed the Offering and has a bona fide purpose other than investment in
    the Shares. 

 

For
the purposes of the this Questionnaire and Appendix “A” attached to this Questionnaire:

 

	 	(a)	an
    issuer is “affiliated” with another issuer if
	 	 	 
	 	 	(i)	one
    of them is the subsidiary of the other, or
	 	 	 	 
	 	 	(ii)	each
    of them is controlled by the same person;

 

    	 	 	 

    	 	- 19 -	 

    

 

	 	(b)	“consultant”
    means, for an issuer, a person, other than an employee, executive officer, or director of the issuer or of a related entity
    of the issuer, that:
	 	 	 	 
	 	 	(i)	is
    engaged to provide services to the issuer or a related entity of the issuer, other than services provided in relation to a
    distribution,
	 	 	 	 
	 	 	(ii)	provides
    the services under a written contract with the issuer or a related entity of the issuer, and
	 	 	 	 
	 	 	(iii)	spends
    or will spend a significant amount of time and attention on the affairs and business of the issuer or a related entity of
    the issuer

 

and includes

 

	 	 	(iv)	for
    an individual consultant, a corporation of which the individual consultant is an employee or shareholder, and a partnership
    of which the individual consultant is an employee or partner, and
	 	 	 	 
	 	 	(v)	for
    a consultant that is not an individual, an employee, executive officer, or director of the consultant, provided that the individual
    employee, executive officer, or director spends or will spend a significant amount of time and attention on the affairs and
    business of the issuer or a related entity of the issuer;

 

	 	(c)	“control
    person” means
	 	 	 	 
	 	 	(i)	a
    person who holds a sufficient number of the voting rights attached to all outstanding voting securities of an issuer to affect
    materially the control of the issuer, or
	 	 	 	 
	 	 	(ii)	each
    person in a combination of persons, acting in concert by virtue of an agreement, arrangement, commitment or understanding,
    which holds in total a sufficient number of the voting rights attached to all outstanding voting securities of an issuer to
    affect materially the control of the issuer,
	 	 	 	 
	 	 	and,
    if a person or combination of persons holds more than 20% of the voting rights attached to all outstanding voting securities
    of an issuer, the person or combination of persons is deemed, in the absence of evidence to the contrary, to hold a sufficient
    number of the voting rights to affect materially the control of the issuer;

 

	 	(d)	director”
    means
	 	 	 	 
	 	 	(i)	a
    member of the board of directors of a company or an individual who performs similar functions for a company, and
	 	 	 	 
	 	 	(ii)	with
    respect to a person that is not a company, an individual who performs functions similar to those of a director of a company;

 

	 	(e)	“executive
    officer” means, for an issuer, an individual who is
	 	 	 
	 	 	(i)	a
    chair, vice-chair or president,
	 	 	 	 
	 	 	(ii)	a
    vice-president in charge of a principal business unit, division or function including sales, finance or production, or
	 	 	 	 
	 	 	(iii)	performing
    a policy-making function in respect of the issuer;

 

	 	(f)	“financial
    assets” means
	 	 	 	 
	 	 	(i)	cash,
	 	 	 	 
	 	 	(ii)	securities,
    or
	 	 	 	 
	 	 	(iii)	a
    contract of insurance, a deposit or an evidence of a deposit that is not a security for the purposes of securities legislation;

 

    	 	 	 

    	 	- 20 -	 

    

 

	 	(g)	“founder”
    means, in respect of an issuer, a person who,
	 	 	 	 
	 	 	(i)	acting
    alone, in conjunction, or in concert with one or more persons, directly or indirectly, takes the initiative in founding, organizing
    or substantially reorganizing the business of the issuer, and
	 	 	 	 
	 	 	(ii)	at
    the time of the distribution or trade is actively involved in the business of the issuer”;

 

	 	(h)	“holding
    entity” means a person that is controlled by an individual;
	 	 	 	 
	 	 	(i)	 “individual”
    means a natural person, but does not include
	 	 	 	 
	 	 	(i)	a
    partnership, unincorporated association, unincorporated syndicate, unincorporated organization or trust, or
	 	 	 	 
	 	 	(ii)	a
    natural person in the person’s capacity as a trustee, executor, administrator or personal or other legal representative;

 

	 	(j)	“permitted
    assign” means, for a person that is an employee, executive officer, director or consultant of an issuer or of a
    related entity of the issuer,
	 	 	 	 
	 	 	(i)	a
    trustee, custodian, or administrator acting on behalf of, or for the benefit of the person,
	 	 	 	 
	 	 	(ii)	a
    holding entity of the person,
	 	 	 	 
	 	 	(iii)	a
    RRSP, RRIF, or TFSA (each as defined in NI 45-106) of the person,
	 	 	 	 
	 	 	(iv)	a
    spouse of the person,
	 	 	 	 
	 	 	(v)	a
    trustee, custodian, or administrator acting on behalf of, or for the benefit of the spouse of the person,
	 	 	 	 
	 	 	(vi)	a
    holding entity of the spouse of the person, or
	 	 	 	 
	 	 	(vii)	a
    RRSP, RRIF, or TFSA of the spouse of the person;

 

	 	(k)	 “person”
    includes
	 	 	 	 
	 	 	(i)	an
    individual,
	 	 	 	 
	 	 	(ii)	a
    corporation,
	 	 	 	 
	 	 	(iii)	a
    partnership, trust, fund and an association, syndicate, organization or other organized group of persons, whether incorporated
    or not, and
	 	 	 	 
	 	 	(iv)	an
    individual or other person in that person’s capacity as a trustee, executor, administrator or personal or other legal
    representative;

 

    	 	 	 

    	 	- 21 -	 

    

 

	 	(l)	“related
    entity” means, for an issuer, a person that controls or is controlled by the issuer or that is controlled by the
    same person that controls the issuer;
	 	 	 	 
	 	(m)	 “related
    liabilities” means
	 	 	 	 
	 		(i)	liabilities
    incurred or assumed for the purpose of financing the acquisition or ownership of financial assets, or
	 	 	 	 
	 		(ii)	liabilities
    that are secured by financial assets, and
	 	 	 	 
	 	(n)	“spouse”
    means, an individual who,
	 	 	 	 
	 		(i)	is
    married to another individual and is not living separate and apart within the meaning of the Divorce Act (Canada), from the
    other individual,
	 	 	 	 
	 		(ii)	is
    living with another individual in a marriage-like relationship, including a marriage-like relationship between individuals
    of the same gender, or
	 	 	 	 
	 		(iii)	in
    Alberta, is an individual referred to in paragraph (i) or (ii), or is an adult interdependent partner within the meaning of
    the Adult Interdependent Relationships Act (Alberta).

 

Guidance
On Accredited Investor Exemptions for Individuals

 

An
individual accredited investor is an individual:

 

	 	(a)	who,
    either alone or with a spouse, beneficially owns financial assets (please see the guidance below regarding what financial
    assets are) having an aggregate realizable value that. before taxes but net of any related liabilities (please see the guidance
    below regarding what related liabilities are), exceeds $1,000,000;
	 	 	 
	 	(b)	whose
    net income before taxes exceeded $200,000 in each of the 2 most recent calendar years or whose net income before taxes combined
    with that of a spouse exceeded $300,000 in each of the 2 most recent calendar years and who, in either case, reasonably expects
    to exceed that net income level in the current calendar year;
	 	 	 
	 	(c)	who,
    either alone or with a spouse, has net assets (please see the guidance below regarding calculating net assets) of at least
    $5,000,000; and
	 	 	 
	 	(d)	who
    beneficially owns financial assets (please see the guidance below regarding what financial assets are) having an aggregate
    realizable value that, before taxes but net of any related liabilities (please see the guidance below regarding what related
    liabilities are), exceeds $5,000,000.

 

The
monetary thresholds above are intended to create bright-line standards. Subscribers who do not satisfy these monetary thresholds
do not qualify as accredited investors.

 

Spouses

 

Sections
(a), (b) and (c) above are designed to treat spouses as a single investing unit, so that either spouse qualifies as an accredited
investor if the combined financial assets of both spouses exceed $1,000,000, the combined net income of both spouses exceeds $300,000,
or the combined net assets of both spouses exceed $5,000,000. Section (d) above does not treat spouses as a single investing unit.

 

    	 	 	 

    	 	- 22 -	 

    

 

If
the combined net income of both spouses does not exceed $300,000, but the net income of one of the spouses exceeds $200,000, only
the spouse whose net income exceeds $200,000 qualifies as an accredited investor.

 

Financial
Assets and Related Liabilities

 

For
the purposes of Sections (a) and (d) above, “financial assets” means: (1) cash, (2) securities, or (3) a contract
of insurance, a deposit or an evidence of a deposit that is not a security for the purposes of securities legislation. These financial
assets are generally liquid or relatively easy to liquidate. The value of a subscriber’s personal residence is not included
in a calculation of financial assets.

 

The
calculation of financial assets must exclude “related liabilities”, meaning: (1) liabilities incurred or assumed
for the purpose of financing the acquisition or ownership of financial assets, or (2) liabilities that are secured by financial
assets.

 

As
a general matter, it should not be difficult to determine whether financial assets are beneficially owned by an individual, an
individual’s spouse, or both, in any particular instance. However, in the case where financial assets are held in a trust
or in another type of investment vehicle for the benefit of an individual, there may be questions as to whether the individual
beneficially owns the financial assets. The following factors are indicative of beneficial ownership of financial assets:

 

	 	●	physical
    or constructive possession of evidence of ownership of the financial asset;
	 	 	 
	 	●	entitlement
    to receipt of any income generated by the financial asset;
	 	 	 
	 	●	risk
    of loss of the value of the financial asset; and
	 	 	 
	 	●	the
    ability to dispose of the financial asset or otherwise deal with it as the individual sees fit.

 

For
example, securities held in a self-directed RRSP for the sole benefit of an individual are beneficially owned by that individual.

 

In
general, financial assets in a spousal RRSP can be included for the purposes of the $1,000,000 financial asset test in Section
(a) above because Section (a) takes into account financial assets owned beneficially by a spouse. However, financial assets in
a spousal RRSP cannot be included for purposes of the $5,000,000 financial asset test in Section (d) above.

 

Financial
assets held in a group RRSP under which the individual does not have the ability to acquire the financial assets and deal with
them directly do not meet the beneficial ownership requirements in either Sections (a) or (d) above.

 

Net
Assets

 

For
the purposes of Section (c) above, “net assets” means all of a subscriber’s total assets minus all of
the subscriber’s total liabilities. Accordingly, for the purposes of the net asset test, the calculation of total assets
includes the value of a subscriber’s personal residence, and the calculation of total liabilities includes the amount of
any liability (such as a mortgage) in respect of the subscriber’s personal residence.

 

To
calculate a subscriber’s net assets under the net asset test, subtract the subscriber’s total liabilities from the
subscriber’s total assets. The value attributed to assets should reasonably reflect their estimated fair value. Income tax
is considered a liability if the obligation to pay it is outstanding at the time of the distribution of the security to the subscriber
by the Issuer.

 

    	 	 	 

    	 	- 23 -	 

    

 

Guidance
On Accredited Investor Exemptions for Corporations, Trusts and Other Entities

 

Accredited
investors that are corporations, trusts or other entities include:

 

	 	(a)	a
    corporation, trust or other entity, other than an investment fund, that has net assets (please see the guidance below regarding
    calculating net assets) of at least $5,000,000 as shown on its most recently prepared financial statements in accordance with
    applicable generally accepted accounting principles and that has not been created or used solely to purchase or hold securities
    as an accredited investor;
	 	 	 
	 	(b)	a
    corporation, trust or other entity in respect of which all of the owners of interests, direct, indirect or beneficial, except
    the voting securities required by law to be owned by directors, are persons that are accredited investors; and
	 	 	 
	 	(c)	a
    trust established by an accredited investor for the benefit of the accredited investor’s family members of which a majority
    of the trustees are accredited investors and all of the beneficiaries are the accredited investor’s spouse, a former
    spouse of the accredited investor or a parent, grandparent, brother, sister, child or grandchild of that accredited investor,
    of that accredited investor’s spouse or of that accredited investor’s former spouse.

 

Net
Assets

 

For
the purposes of Section (a) above, “net assets” means all of the subscriber’s total assets minus all
of the subscriber’s total liabilities. The minimum net asset threshold of $5,000,000 specified in Section (a) above must
be shown on the entity’s most recently prepared financial statements. The financial statements must be prepared in accordance
with applicable generally accepted accounting principles.

 

Guidance
on Close Personal Friend and Close Business Associate Determination

 

A
“close personal friend” of a director, executive officer, founder or control person of an issuer is an individual
who knows the director, executive officer, founder or control person well enough and has known them for a sufficient period of
time to be in a position to assess their capabilities and trustworthiness and to obtain information from them with respect to
the investment.

 

The
following factors are relevant to this determination:

 

	 	(a)
    	the
    length of time the individual has known the director, executive officer, founder or control person,
	 	 	 
	 	(b)
    	the
    nature of the relationship between the individual and the director, executive officer, founder or control person including
    such matters as the frequency of contacts between them and the level of trust and reliance in the other circumstances, and
	 	 	 
	 	(c)
    	the
    number of “close personal friends” of the director, executive officer, founder or control person to whom securities
    have been distributed in reliance on the private issuer exemption or the family, friends and business associates exemption.

 

An
individual is not a close personal friend solely because the individual is:

 

	 	(a)
    	a
    relative,
	 	 	 
	 	(b)
    	a
    member of the same club, organization, association or religious group,
	 	 	 
	 	(c)
    	a
    co-worker, colleague or associate at the same workplace,
	 	 	 
	 	(d)
    	a
    client, customer, former client or former customer,
	 	 	 
	 	(e)
    	a
    mere acquaintance, or
	 	 	 
	 	(f)
    	connected
    through some form of social media, such as Facebook, Twitter or LinkedIn.

 

    	 	 	 

    	 	- 24 -	 

    

 

The
relationship between the individual and the director, executive officer, founder or control person must be direct. For example,
the exemption is not available to a close personal friend of a close personal friend of a director of the issuer. Further, a relationship
that is primarily founded on participation in an internet forum is not considered to be that of a close personal friend.

 

A
“close business associate” is an individual who has had sufficient prior business dealings with a director,
executive officer, founder or control person of the issuer to be in a position to assess their capabilities and trustworthiness
and to obtain information from them with respect to the investment.

 

The
following factors are relevant to this determination:

 

	 	(a)
    	the
    length of time the individual has known the director, executive officer, founder or control person,
	 	 	 
	 	(b)
    	the
    nature of any specific business relationships between the individual and the director, executive officer, founder or control
    person, including, for each relationship, when it began, the frequency of contact between them and when it terminated if it
    is not ongoing, and the level of trust and reliance in the other circumstances,
	 	 	 
	 	(c)
    	the
    nature and number of any business dealings between the individual and the director, executive officer, founder or control
    person, the length of the period during which they occurred, and the nature and date of the most recent business dealing,
    and
	 	 	 
	 	(d)
    	the
    number of “close business associates” of the director, executive officer, founder or control person to whom securities
    have been distributed in reliance on the private issuer exemption or the family, friends and business associates exemption.

 

An
individual is not a close business associate solely because the individual is:

 

	 	(a)
    	a
    member of the same club, organization, association or religious group,
	 	 	 
	 	(b)
    	a
    co-worker, colleague or associate at the same workplace,
	 	 	 
	 	(c)
    	a
    client, customer, former client or former customer,
	 	 	 
	 	(d)
    	a
    mere acquaintance, or
	 	 	 
	 	(e)
    	connected
    through some form of social media, such as Facebook, Twitter or LinkedIn.

 

The
relationship between the individual and the director, executive officer, founder or control person must be direct. For example,
the exemptions are not available for a close business associate of a close business associate of a director of the issuer. Further,
a relationship that is primarily founded on participation in an internet forum is not considered to be that of a close business
associate.

 

The
Subscriber agrees that the above representations and warranties will be true and correct both as of the execution of this Questionnaire
and as of the Closing and acknowledges that they will survive the completion of the issue of the Shares.

 

The
Subscriber acknowledges that the foregoing representations and warranties are made by the Subscriber with the intent that they
be relied upon in determining the suitability of the Subscriber to acquire the Shares and that this Questionnaire is incorporated
into and forms part of the Agreement and the undersigned undertakes to immediately notify the Issuer of any change in any statement
or other information relating to the Subscriber set forth herein which takes place prior to the closing time of the purchase and
sale of the Shares.

 

    	 	 	 

    	 	- 25 -	 

    

 

The
Subscriber undertakes to immediately notify the Issuer of any change in any statement or other information relating to the Subscriber
set forth in the Agreement or in this Questionnaire which takes place prior to the Closing.

 

By
completing this Questionnaire, the Subscriber authorizes the indirect collection of this information by each applicable regulatory
authority or regulator and acknowledges that such information is made available to the public under applicable laws.

 

DATED
as of day of ______________, 2018.

 

	 	 
	 	Print
    Name of Subscriber (or person signing as agent of the Subscriber)
	 	 
	 	By:	 
	 	 	Signature
	 	 	 
	 	 	 
	 	 	Print
    Name and Title of Authorized 
	 	 	Signatory
    (if Subscriber is not an individual)

 

    	 	 	 

    	 	- 26 -	 

    

 

APPENDIX
“A”

TO CANADIAN INVESTOR QUESTIONNAIRE

 

Form
45-106F9

 

 

WARNING!

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

 

 

	SECTION 1 TO BE COMPLETED BY THE ISSUER OR SELLING SECURITY HOLDER
	1. About your investment
	Type of securities: Shares.	Issuer: ICOX INNOVATIONS INC. (the “Issuer”)

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

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

initials
	● 	Your net income before taxes was more than $200,000 in each of the 2 most recent calendar years, and you expect it to be more than $200,000 in the current calendar year. (You can find your net income before taxes on your personal income tax return.)	 
	● 	Your net income before taxes combined with your spouse’s was more than $300,000 in each of the 2 most recent calendar years, and you expect your combined net income before taxes to be more than $300,000 in the current calendar year.	 
	●	Either alone or with your spouse, you own more than $1 million in cash and securities, after subtracting any debt related to the cash and securities.	 
	● 	Either alone or with your spouse, you have net assets worth more than $5 million. (Your net assets are your total assets (including real estate) minus your total debt.) 	 

 

    	 	 	 

    	 	- 27 -	 

    

 

	4.
    Your name and signature
	By
    signing this form, you confirm that you have read this form and you understand the risks of making this investment as identified
    in this form.
	First
    and last name (please print):
	Signature:	Date:
	SECTION
    5 TO BE COMPLETED BY THE SALESPERSON
	5.
    Salesperson information
	[Instruction:
    The salesperson is the person who meets with, or provides information to, the purchaser with respect to making this investment.
    That could include a representative of the issuer or selling security holder, a registrant or a person who is exempt from
    the registration requirement.]
	First
    and last name of salesperson (please print):
	Telephone:	Email:	
	Name
    of firm (if registered):
	SECTION
    6 TO BE COMPLETED BY THE ISSUER OR SELLING SECURITY HOLDER
	6.
    For more information about this investment
	For
    investment in a non-investment fund
	ICOX
    INNOVATIONS INC.4101 Redwood Avenue, Building F

                                                                                Los Angeles, CA 90066

                                                                                Attn:
    Michael Blum

                                                                                Telephone:
    

                                                                                Email:
    

                                                                                 

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

 

Form
instructions:

 

	1.	This
    form does not mandate the use of a specific font size or style but the font must be legible
	2.	The
    information in sections 1, 5 and 6 must be completed before the purchaser completes and signs the form.
	3.	The
    purchaser must sign this form. Each of the purchaser and the issuer or selling security holder must receive a copy of this
    form signed by the purchaser. The issuer or selling security holder is required to keep a copy of this form for 8 years after
    the distribution.

 

    	 	 	 

    	 	- 28 -	 

    

 

EXHIBIT
B

 

UNITED
STATES ACCREDITED INVESTOR QUESTIONNAIRE

 

Capitalized
terms used in this United States Accredited Investor Questionnaire (this “Questionnaire”) and not specifically
defined have the meaning ascribed to them in the Private Placement Subscription Agreement between the undersigned (the “Subscriber”)
and ICOX Innovations Inc. (the “Issuer”) to which this Questionnaire is attached.

 

This
Questionnaire applies only to persons that are U.S. Purchasers. A “U.S. Purchaser” is: (a) any U.S. Person,
(b) any person purchasing the Shares on behalf of any U.S. Person, (c) any person that receives or received an offer of the Shares
while in the United States, or (d) any person that is in the United States at the time the Subscriber’s buy order was made
or this Agreement was executed or delivered.

 

The
Subscriber understands and agrees that none of the Shares have been or will be registered under the 1933 Act, or applicable state,
provincial or foreign securities laws, and the Shares are being offered and sold to the Subscriber in reliance upon the exemption
provided in Section 4(2) of the 1933 Act and Rule 506 of Regulation D under the 1933 Act for non-public offerings. The Shares
are being offered and sold within the United States only to “accredited investors” as defined in Rule 501(a) of Regulation
D. The Shares offered hereby are not transferable except in accordance with the restrictions described herein.

 

If
the Subscriber owns any securities of the Issuer, provide details and dates of acquisition of such securities:

 

 

 

 

 

 

 

The
Subscriber became aware of and interested in the Offering as a result of:

 

 

 

 

 

 

(insert description of how
and when the Subscriber became aware of the Offering)

 

The
Subscriber has a substantive pre-existing relationship with the Issuer. Provide details of such relationship: 

 

 

 

 

The
Subscriber represents, warrants, covenants and certifies (which representations, warranties, covenants and certifications will
survive the Closing) to the Issuer (and acknowledges that the Issuer is relying thereon) that:

 

	1.	it
    is not resident in Canada;
	 	 
	2.	is
    a current security holder of the Issuer or has a substantive pre-existing relationship with the Issuer (as described above);
	 	 
	3.	it
    has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of
    an investment in the Shares and it is able to bear the economic risk of loss of its entire investment;

 

    	 	 	 

    	 	- 29 -	 

    

 

	4.	the
    Issuer has provided to it the opportunity to ask questions and receive answers concerning the terms and conditions of the
    Offering and it has had access to such information concerning the Issuer as it has considered necessary or appropriate in
    connection with its investment decision to acquire the Shares;
	 	 
	5.	it
    is acquiring the Shares for its own account, for investment purposes only and not with a view to any resale, distribution
    or other disposition of the Shares in violation of the United States securities laws;
	 	 
	6.	it
    (i) has adequate net worth and means of providing for its current financial needs and possible personal contingencies, (ii)
    has no need for liquidity in this investment, and (iii) is able to bear the economic risks of an investment in the Shares
    for an indefinite period of time;
	 	 
	7.	if
    the Subscriber is an individual (that is, a natural person and not a corporation, partnership, trust or other entity), then
    it satisfies one or more of the categories indicated below (please place an “X” on the appropriate lines):

 

	 	___________	a
    natural person whose individual net worth, or joint net worth with that person’s spouse, exceeds US$1,000,000. For purposes
    of this category, “net worth” means the excess of total assets at fair market value (including personal and real
    property, but excluding the estimated fair market value of a person’s primary residence/home) over total liabilities.
    Total liabilities excludes any mortgage on the primary residence/home in an amount of up to the home’s estimated fair
    market value as long as the mortgage was incurred more than 60 days before the Shares are purchased, but includes (i) any
    mortgage amount in excess of the home’s fair market value and (ii) any mortgage amount that was borrowed during the
    60 day period before the Closing Date for the purpose of investing in the Shares,
	 	 	 
	 	___________	a
    natural person who had an individual income in excess of US$200,000 in each of the two most recent years, or joint income
    with their spouse in excess of US$300,000 in each of those years and has a reasonable expectation of reaching the same income
    level in the current year, or
	 	 	 
	 	___________	a
    director or executive officer of the Issuer;

 

	8.	if
    the Subscriber is a corporation, partnership, trust or other entity), then it satisfies one or more of the categories indicated
    below (please place an “X” on the appropriate lines):

 

	 	___________	an
    organization described in Section 501(c)(3) of the United States Internal Revenue Code, a corporation, a Massachusetts or
    similar business trust or partnership, not formed for the specific purpose of acquiring the Shares, with total assets in excess
    of US$5,000,000,

 

    	 	 	 

    	 	- 30 -	 

    

 

	 	___________	a
    “bank” as defined under Section (3)(a)(2) of the 1933 Act or savings and loan association or other institution
    as defined in Section 3(a)(5)(A) of the 1933 Act acting in its individual or fiduciary capacity; a broker dealer registered
    pursuant to Section 15 of the Securities Exchange Act of 1934 (United States); an insurance company as defined in Section
    2(13) of the 1933 Act; an investment company registered under the Investment Company Act of 1940 (United States) or
    a business development company as defined in Section 2(a)(48) of such Act; a Small Business Investment Company licensed by
    the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958 (United
    States); a plan with total assets in excess of US$5,000,000 established and maintained by a state, a political subdivision
    thereof, or an agency or instrumentality of a state or a political subdivision thereof, for the benefit of its employees;
    an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 (United States)
    whose investment decisions are made by a plan fiduciary, as defined in Section 3(21) of such Act, which is either a bank,
    savings and loan association, insurance company or registered investment adviser, or if the employee benefit plan has total
    assets in excess of US$5,000,000, or, if a self-directed plan, whose investment decisions are made solely by persons that
    are accredited investors,
	 	 	 
	 	___________	a
    private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940 (United
    States),
	 	 	 
	 	___________	a
    trust with total assets in excess of US$5,000,000, not formed for the specific purpose of acquiring the Shares, whose purchase
    is directed by a sophisticated person as described in Rule 506(b)(2)(ii) under the 1933 Act, or
	 	 	 
	 	___________	an
    entity in which all of the equity owners satisfy the requirements of one or more of the categories set forth in Section 6
    of this Questionnaire;

 

	9.	it
    has not purchased the Shares as a result of any form of general solicitation or general advertising, including advertisements,
    articles, notices or other communications published in any newspaper, magazine or similar media or broadcast over radio, internet,
    television or other form of telecommunications, or any seminar or meeting whose attendees have been invited by general solicitation
    or general advertising;
	 	 	 
	10.	if
    the Subscriber decides to offer, sell or otherwise transfer any of the Shares, it will not offer, sell or otherwise transfer
    any of such Shares, directly or indirectly, unless:
	 	 	 
	 	(a)	the
    sale is to the Issuer,
	 	 	 
	 	(b)	the
    sale is made outside the United States in a transaction meeting the requirements of Rule 904 of Regulation S under the 1933
    Act and in compliance with applicable local laws and regulations in which such sale is made;
	 	 	 
	 	(c)	the
    sale is made pursuant to the exemption from the registration requirements under the 1933 Act provided by Rule 144 thereunder
    and in accordance with any applicable state securities or “blue sky” laws, or
	 	 	 
	 	(d)	the
    Shares are sold in a transaction that does not require registration under the 1933 Act or any applicable state laws and regulations
    governing the offer and sale of securities, and
	 	 	 
	 	(e)	it
    has, prior to such sale pursuant to subsection (c) or (d), furnished to the Issuer an opinion of counsel of recognized standing
    reasonably satisfactory to the Issuer, to such effect;

 

    	 	 	 

    	 	- 31 -	 

    

 

	11.	it
    understands and acknowledges that, upon the issuance thereof, and until such time as the same is no longer required under
    the applicable requirements of the 1933 Act or applicable U.S. state laws and regulations, the certificates representing the
    Shares, and all securities issued in exchange therefor or in substitution thereof, will bear a legend (in addition to the
    legends required by Canadian securities laws and the Exchange) in substantially the following form:

 

“THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S.
SECURITIES ACT”). THE HOLDER HEREOF, BY PURCHASING SUCH SECURITIES, AGREES FOR THE BENEFIT OF ICOX INNOVATIONS INC. (THE
“ISSUER”) THAT SUCH SECURITIES MAY BE OFFERED, SOLD OR OTHERWISE TRANSFERRED ONLY (A) TO THE ISSUER; (B) OUTSIDE THE
UNITED STATES IN ACCORDANCE WITH RULE 904 OF REGULATION S UNDER THE U.S. SECURITIES ACT OR (C) IN ACCORDANCE WITH THE EXEMPTION
FROM REGISTRATION UNDER THE U.S. SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER, IF AVAILABLE, AND IN COMPLIANCE WITH ANY APPLICABLE
STATE SECURITIES LAWS; OR (D) IN A TRANSACTION THAT DOES NOT REQUIRE REGISTRATION UNDER THE U.S. SECURITIES ACT OR ANY APPLICABLE
STATE SECURITIES LAWS, AND, IN THE CASE OF PARAGRAPH (C) OR (D), THE SELLER FURNISHES TO THE ISSUER AN OPINION OF COUNSEL OF RECOGNIZED
STANDING IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO SUCH EFFECT. DELIVERY OF THIS CERTIFICATE MAY NOT CONSTITUTE GOOD
DELIVERY IN SETTLEMENT OF TRANSACTIONS ON STOCK EXCHANGES IN CANADA.”

 

Delivery
of certificates bearing such a legend may not constitute “good delivery” in settlement of transactions on Canadian
stock exchanges or over-the-counter markets. If the Issuer is a “foreign issuer” with no “substantial U.S. market
interest” (all within the meaning of Regulation S under the 1933 Act) at the time of sale, a new certificate, which will
constitute “good delivery”, will be made available to the purchaser upon provision to the Issuer by the Subscriber
of a declaration together with such other evidence of the availability of an exemption as the Issuer or its transfer agent may
reasonably require.

 

	12.	it
    consents to the Issuer making a notation on its records or giving instructions to any transfer agent of the Issuer in order
    to implement the restrictions on transfer set forth and described in this Questionnaire and the Agreement; and
	 	 
	13.	it
    is resident in the United States of America, its territories and possessions or any state of the United States or the District
    of Columbia (collectively the “United States”), is a “U.S. Person” as such term is defined
    in Regulation S or was in the United States at the time the Shares were offered or the Agreement was executed.

 

[THE
REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

 

    	 	 	 

    	 	- 32 -	 

    

 

The
Subscriber undertakes to notify the Issuer immediately of any change in any representation, warranty or other information relating
to the Subscriber set forth herein which takes place prior to the closing time of the purchase and sale of the Shares.

 

Dated
____________________, 2018.

 

	 	X
	 	Signature
    of individual (if Subscriber is an individual)
	 	 
	 	X
	 	Authorized
    signatory (if Subscriber is not an individual)
	 	 
	 	 
	 	Name
    of Subscriber (please print)
	 	 
	 	 
	 	Name
    of authorized signatory (please print)

 

    	 	 	 

    	 	- 33 -	 

    

 

EXHIBIT
C

 

RISK
ACKNOWLEDGEMENT FORM

 

Risk
Acknowledgement under BCI 32-513

Registration exemption for trades

in connection with certain prospectus-exempt distributions

 

Name
of Issuer: ICOX INNOVATIONS INC.

 

Name
of Seller: _______________________________________

 

I
acknowledge that

 

	o	the person
    selling me these securities is not registered with a securities regulatory authority and is prohibited from telling me that
    this investment is suitable for me;
	 	 
	o	the person
    selling me these securities does not act for me;
	 	 
	o	this is
    a risky investment and I could lose all my money;
	 	 
	o	the person
    selling me these securities has not provided financial services to me other than in connection with a Prospectus-Exempt Distribution;
	 	 
	o	the person
    selling me these securities does not hold or have access to my assets;
	 	 
	o	I am investing
    entirely at my own risk.

 

Date

 

_____________________________

Signature
of Subscriber

 

_____________________________

Print
name of Subscriber

 

______________________________________

Name
of salesperson acting on behalf of seller

 

Sign
two copies of this document. Keep one copy for your records.

 

National
Instrument 45-106 Prospectus and Registration Exemptions may require you to sign an additional risk acknowledgement form. If you
want advice about the merits of this investment and whether these securities are a suitable investment for you, contact a registered
adviser or dealer.

 

    	 	 	 

    	 	- 34 -	 

    

 

EXHIBIT
D

 

WIRE
INSTRUCTIONS

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