Document:

Exhibit 10.1

 

SUBSCRIPTION AGREEMENT

 

 This Subscription Agreement (the
“Agreement”), dated as of the date set forth on the Signature Page (the “Agreement”), is
entered into by and between the undersigned subscriber (the “Subscriber”) and Event Cardio Group Inc.,
a Nevada corporation (the “Company”)

 

Preliminary Statement

 

The Company is offering
up to 16,901,400 shares (the “Shares”) of its common stock, par value $0.001 per share (the “Common Stock”),
together with warrants (the “Warrants”) to purchase an additional 10,000,0000 shares of common stock (“the “Warrant
Shares”), for a total purchase price of $CAN 1,500,000 (the “Offering”). The Warrants, in the form annexed hereto
as Exhibit A, may be exercised for a period commencing on the date of issuance and ending on February 28, 2019, at an initial
exercise price of $US 0.15 per share. Shares and Warrants will be issued against payment of the purchase price therefor, which
is payable in monthly installments commencing on the date hereof and on the first day of each calendar month thereafter starting
with March 1, 2016 through and including August 1, 2016, as indicated on Schedule I annexed hereto (“Schedule I”),
subject to the right of the Subscriber to prepay all or any portion of the amount due hereunder.

 

Subscriber desires
to purchase, and the Company is willing to sell to the Subscriber, upon the terms and conditions stated in this Agreement, the
number of Shares (the “Purchased Shares”) and Warrants (“Purchased Warrants”) set forth on the signature
page hereto for the purchase price payable in Canadian dollars set forth on the signature page (the “Purchase Price”).

 

The Company and
the Subscriber are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded
by Regulation S, as promulgated by the United States Securities and Exchange Commission under United States Securities Act of
1933, as amended (the “Securities Act”).

 

NOW, THEREFORE,
in consideration of the premises and mutual covenants and agreements hereinafter set forth, and intending to be legally bound,
the parties hereby agree as follows:

 

ARTICLE I

PURCHASE OF SECURITIES

 

Section 1.1 Purchase
of the Securities. Subject to the terms and conditions of this Agreement, the Subscriber purchases from the Company, and the
Company agrees to issue and sell to the Subscriber the number of Shares and Warrants identified on the signature page hereto for
the Purchase Price set forth on the signature page hereto. This Agreement shall not be binding upon the Company until it has been
accepted by the Company as evidenced by the Company’s execution and delivery of this Subscription Agreement to the Subscriber.

 

The purchase and sale of the Purchased
Shares and the Purchased Warrants will be effected in tranches, with the purchase and sale of the initial tranche to occur
upon the Company’s acceptance of this Agreement against payment of the initial installment of the Purchase Price, with
the remaining Purchased Shares and Purchased Warrants to be issued in the monthly increments indicated on Schedule I
corresponding to the monthly installments of the Purchase Price indicated thereon. The Purchased Shares, Purchased Warrants
and shares of Common Stock issuable upon exercise of the Purchased Warrants (the “Purchased Warrant Shares”) are
referred to collectively herein as the “Purchased Securities”).

 

Section 1.2 Payment.
Payment of the Purchase Price shall be made in wire transfer of immediately available funds in installments as indicated on Schedule
I not later than the dates indicated thereon. If payment is not timely made, the Company shall have the right to reject that portion
of this subscription notwithstanding the eventual payment of that installment of the Purchase Price. Upon receipt of payment the
Company will deliver to the Subscriber one or more certificates evidencing the number of Purchased Warrants corresponding to that
portion of the Purchase Price indicated on Schedule I and instruct its transfer agent to deliver to the Subscriber promptly thereafter
one or more certificates evidencing the Purchased Shares corresponding to that portion of the Purchase Price indicated on Schedule
I.

     

     

    

ARTICLE II

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

The Company represents
and warrants to the Subscriber that:

 

Section 2.1 Organization
and Qualification. The Company is a corporation validly existing and in good standing under the laws of the State of Nevada
and has the requisite corporate power and authorization to own its properties and to carry on its business as now being conducted.

 

Section 2.2 Issuance
of Securities. The issuance of the Securities in accordance with the terms of this Agreement has been duly authorized and,
upon issuance in accordance with the terms hereof, shall be validly issued and free from all taxes, liens and charges with respect
to the issue thereof and the Purchased Shares, and the Warrant Shares issuable upon exercise of the Purchased Warrants in accordance
with the terms thereof, shall be fully paid and non-assessable with the Subscriber being entitled to all rights accorded to a
holder of Common Stock. Assuming the accuracy of the representations and warranties of the Subscriber in Section 3.3 hereof, the
offer and issuance by the Company of the Securities is exempt from registration under the Securities Act.

 

 Section 2.3 SEC Reports.
  The Company has filed all reports, schedules, forms, statements and other documents required to be filed by the
Company under the Securities Act and the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding the date hereof (or such shorter period as
the Company was required by law or regulation to file such material) (the foregoing materials, including the exhibits thereto
and documents incorporated by reference therein, being collectively referred to herein as the “SEC Reports”) on a
timely basis or has received a valid extension of such time of filing and has filed any such SEC Reports prior to the
expiration of any such extension.  As of their respective dates, the SEC Reports complied in all material respects with
the requirements of the Securities Act and the Exchange Act, as applicable, and none of the SEC Reports, when filed,
contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or
necessary in order to make the statements therein, in the light of the circumstances under which they were made, not
misleading.  The financial statements of the Company included in the SEC Reports comply in all material respects with
applicable accounting requirements and the rules and regulations of the Commission with respect thereto as in effect at the
time of filing.  Such financial statements have been prepared in accordance with United States generally accepted
accounting principles applied on a consistent basis during the periods involved (“GAAP”), except as may
be otherwise specified in such financial statements or the notes thereto and except that unaudited financial statements may
not contain all footnotes required by GAAP, and fairly present in all material respects the financial position of the Company
and its consolidated subsidiaries as of and for the dates thereof and the results of operations and cash flows for the
periods then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments.

  

ARTICLE III

SUBSCRIBER’S REPRESENTATIONS
AND WARRANTIES

 

The Subscriber hereby
represents and warrants to the Company:

 

Section 3.1 Authorization.
The Subscriber has full power and authority to enter into this Agreement. This Agreement, when executed and delivered by the Subscriber,
will constitute a valid and legally binding obligation of the Subscriber, enforceable in accordance with the terms hereof.

 

Section 3.2 No
Public Sale or Distribution. The Subscriber is acquiring the Securities in the ordinary course of business for its own account
and not with a view towards, or for resale in connection with, the public sale or distribution thereof, except pursuant to sales
registered or exempted under the Securities Act and the Subscriber does not have a present arrangement to effect any distribution
of the Securities, to or through any person or entity. The Subscriber does not presently have any agreement or understanding,
directly or indirectly, with any person to distribute any of the Securities.

     

     

    

Section 3.3 Regulation
S Exemption. (a) The Subscriber understands that the Securities are being offered and sold in reliance on an exemption from
the registration requirements of United States federal and state securities laws under Regulation S promulgated under the Securities
Act and that the Company is relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments
and understandings of the Subscriber set forth herein in order to determine the applicability of such exemptions and the suitability
of the Investor to acquire the Securities. In this regard, the Subscriber represents, warrants and agrees that:

 

(a) The Subscriber
is not a U.S. Person (as defined in the Securities Act) and is not an affiliate (as defined in Rule 501(b) under the Securities
Act) of the Company and is not acquiring the Shares for the account or benefit of a U.S. Person.

 

(b) At
the time of the origination of contact concerning this Agreement and the date of the execution and delivery of this Agreement,
the Subscriber was outside of the United States.

 

(c)The
Subscriber will not, during the period commencing on the date of issuance of the Securities and ending on the first anniversary
of such date, or such shorter period as may be permitted by Regulation S or other applicable securities law (the “Restricted
Period”), offer, sell, pledge or otherwise transfer the Securities in the United States, or to a U.S. Person for the account
or for the benefit of a U.S. Person, or otherwise in a manner that is not in compliance with Regulation S.

 

(d)The
Subscriber will, after expiration of the Restricted Period, offer, sell, pledge or otherwise transfer the Securities only pursuant
to registration under the Securities Act or an available exemption therefrom and, in accordance with all applicable state and
foreign securities laws.

 

(e)The
Subscriber was not in the United States, engaged in, and prior to the expiration of the Restricted Period will not engage in,
any short selling of or any hedging transaction with respect to the Securities, including without limitation, any put, call or
other option transaction, option writing or equity swap.

 

(f)Neither
the Subscriber nor or any person acting on its behalf has engaged, nor will engage, in any directed selling efforts to a U.S.
Person with respect to the Securities and the Subscriber and any person acting on his behalf have complied and will comply with
the “offering restrictions” requirements of Regulation S under the Securities Act.

 

(g)The
transactions contemplated by this Agreement have not been pre-arranged with a buyer located in the United States or with a U.S.
Person, and are not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

(h)Neither
the Subscriber nor any person acting on its behalf has undertaken or carried out any activity for the purpose of, or that could
reasonably be expected to have the effect of, conditioning the market in the United States, its territories or possessions, for
any of the Securities. The Subscriber agrees not to cause any advertisement of the Securities to be published in any newspaper
or periodical or posted in any public place and not to issue any circular relating to the Securities, except such advertisements
that include the statements required by Regulation S under the Securities Act, and only offshore and not in the U.S. or its territories,
and only in compliance with any local applicable securities laws.

 

(i)Each
certificate representing the Securities shall be endorsed with the following legends, in addition to any other legend required
to be placed thereon by applicable federal or state securities laws:

 

(A)“THE
SECURITIES ARE BEING OFFERED TO INVESTORS WHO ARE NOT U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (“THE SECURITIES ACT”)) AND WITHOUT REGISTRATION WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION
UNDER THE SECURITIES ACT IN RELIANCE UPON REGULATION S PROMULGATED UNDER THE SECURITIES ACT.”

 

(B)“TRANSFER
OF THESE SECURITIES IS PROHIBITED, EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S, PURSUANT TO REGISTRATION UNDER THE
SECURITIES ACT, OR PURSUANT TO AVAILABLE EXEMPTION FROM REGISTRATION. HEDGING TRANSACTIONS MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE
WITH THE SECURITIES ACT.”

     

     

    

(q) The
Subscriber consents to the Company making a notation on its records or giving instructions to any transfer agent of the Company,
if any, in order to implement the restrictions on transfer of the Securities set forth in this Section.

 

 Section 3.4 Reliance on Exemptions.
The Subscriber understands that the Securities are being offered and sold to it in reliance on specific exemptions from the registration
requirements of United States federal and state securities laws and that the Company is relying in part upon the truth and accuracy
of, and the Subscriber's compliance with, the representations, warranties, agreements, acknowledgments and understandings of the
Subscriber set forth herein in order to determine the availability of such exemptions and the eligibility of the Subscriber to
acquire the Securities. Further, if this transaction is not being conducted in accordance with Regulation S and Subscriber is
an accredited investor, in lieu of the legends set forth above, the certificates representing the Securities will have a restrictive
“Securities Act” legend imprinted thereon

 

Section 3.5 Information.
The Subscriber has been furnished with or has had access at the EDGAR Website of the Securities and Exchange Commission to the
SEC Reports.  In addition, the Subscriber has received in writing from the Company such other information concerning its
operations, financial condition and other matters as the Subscriber has requested in writing and considered all factors the Subscriber
deems material in deciding on the advisability of investing in the Securities. Subscriber has carefully read, and understands
the information in the SEC Reports. Neither such inquiries nor any other due diligence investigations conducted by the Subscriber
or its advisors, if any, or its representatives shall modify, amend or affect the Subscriber's right to rely on the Company's
representations and warranties contained herein. The Subscriber understands that its investment in the Securities involves a high
degree of risk and is able to afford a complete loss of such investment. The Subscriber has sought such accounting, legal and
tax advice as it has considered necessary to make an informed investment decision with respect to its acquisition of the Securities.

  

 

ARTICLE IV

MUTUAL REPRESENTATION AND WARRANTY

  

Section 4.1 No
Broker of Finder. Each party represents and warrants to the other that no person or entity is entitled to any broker’s,
finder’s or similar fee in connection with the transaction contemplated hereby.

 

ARTICLE V

PRE-EMPTIVE RIGHT

 

Section 5.1 Pre-emptive
Right. The Company agrees that if at any time after the date hereof and prior to August 31, 2017, it shall issue or agree
to issue shares of common stock or any other security or instrument exercisable for or convertible into shares of common stock,
other than i) shares issued pursuant to any note, contract, option, warrant or security outstanding as of the date hereof, including
the 12% Convertible Promissory Note held by 2399371 Ontario Inc. and ii) shares issued as compensation to employees, officers
and directors, the Subscriber shall have the right to participate in such offering (a “Subsequent Offering”) and purchase
such number of the securities or instruments to be sold, upon the terms and conditions to be paid by the other participants in
the Subsequent Offering, as are necessary such that upon the purchase of such securities and the conversion or exercise thereof,
the Subscriber will own the percentage of the number of outstanding shares of the common stock of the Company after giving effect
to such Subsequent Offering as is equal to the percentage of the outstanding shares of common stock of the Company that the Subscriber
will own immediately after the purchase of the Purchased Shares. The Company shall give the Subscriber not less than 15 days’
prior written notice of any Subsequent Offering, which shall include a description of the terms and conditions and the scheduled
closing date thereof, and the Subscriber shall by written notice the Company not later than two business prior to the scheduled
closing date shall indicate whether he desires to participate in that Subsequent Offering.

 

The right granted
in this Section 5.1 shall not apply after the Company has sold in one or more transactions other than those referenced in clauses
i) and ii) above, common stock or securities exercisable for or convertible into common stock for which it has received an aggregate
of $10 million. Further, the right granted hereby shall be void if the Subscriber does not acquire all of the Purchased Shares
provided for in this Agreement.

 

 

[Signature Page is on the Following
Page]

    	 

    	 

    

 Signature Page to Subscription Agreement

 

IN WITNESS WHEREOF,
the parties have executed this Agreement as of February , 2016.

 

	Subscriber:	 	 	EVENT CARDIO GROUP, INC.
	 	 	 	 	 
		 	 	By:	 
	 	 	 	 	John Bentivoglio
	 	 	 	 	President and CEO
	Tax ID #	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	Subscriber’s Address:	 	 	 	 

  

 

Number of Shares
of Common Stock*: 1,690,140

 

Number of Warrants*:
1,000,000

 

Purchase Price*:
$CAN150,000

___

* The shares of Common Stock and Warrants
will be issued, and payment of the portion of the Purchase Price is due, in accordance with Schedule I.

    	 

    	 

    

 

SCHEDULE
I

 

	DATE	 	PAYMENT ($CAN)	 	# OF SHARES	 	# OF WARRANTS
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Upon
acceptance of subscription
	 	$	33,500	 	 	 	377,481	 	 	 	223,300	 
	March 1, 2016	 	 	32,500	 	 	 	366,157	 	 	 	216,600	 
	April 1, 2016	 	 	23,000	 	 	 	259,171	 	 	 	153,300	 
	May 1, 2016	 	 	16,000	 	 	 	180,241	 	 	 	106,600	 
	June 1, 2016	 	 	16,500	 	 	 	185,988	 	 	 	110,000	 
	July 1, 2016	 	 	15,500	 	 	 	174,664	 	 	 	103,300	 
	August 1, 2016	 	 	13,000	 	 	 	146,438	 	 	 	86,663Exhibit 10.2

 

Exhibit A

 

NEITHER THE ISSUANCE AND SALE
OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE,
SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE REASONABLY ACCEPTABLE TO THE ISSUER), IN A GENERALLY
ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 UNDER SAID ACT. NOTWITHSTANDING
THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT
SECURED BY THE SECURITIES.

 

COMMON STOCK PURCHASE WARRANT

 

EVENT
CARDIO GROUP INC.

 

	Warrant Shares:	 	 	Initial Exercise Date:	 	, 2016

 

THIS COMMON STOCK
PURCHASE WARRANT (the “Warrant”) certifies that, for value received, _________ (the “Holder”)
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on
or after the date hereof (the “Initial Exercise Date”) and on or prior to the close of business on February
28, 2019 (the “Termination Date”) but not thereafter, to subscribe for and purchase from Event Cardio Group,
Inc., a Nevada corporation (the “Company”), up to _______ shares (the “Warrant Shares”)
of common stock, par value $.001 per share, of the Company (the “Common Stock”). The purchase price of one
share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).

 

Section 1. Definitions.
Capitalized terms used herein without definition shall have the following meaning:

 

“Business
Day” means any day except Saturday, Sunday, any day which shall be a federal legal holiday in the United States or any
day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

 

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

 

 “Person” means an individual or
corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock
company, government (or an agency or subdivision thereof) or other entity of any kind.

 

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

     

     

    

Section 2.Exercise

 

a) Exercise.
Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after
the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed facsimile copy of
the Notice of Exercise Form annexed hereto (or such other office or agency of the Company as it may designate by notice in writing
to the registered Holder at the address of such Holder appearing on the books of the Company); and, if the Exercise Price is to
be paid in cash, within three Trading Days of the date said Notice of Exercise is delivered to the Company, the Company shall
have received payment of the aggregate Exercise Price of the shares thereby purchased by wire transfer or cashier’s check
drawn on a United States bank. Alternatively, the Holder may pay the Exercise Price, in whole or in part, by surrender or delivery
to the Company of securities of the Company, including all or a portion of this Warrant in a “cashless exercise,”
having a fair market value, as determined below, on the date of the exercise equal to the portion of the purchase price being
so paid. If the Holder elects to exercise this Option, or a portion hereof, and to pay for the Common Stock by way of cashless
exercise (a “Cashless Exercise”), the Holder shall deliver the Exercise Notice duly executed by such
Holder or by such Holder’s duly authorized attorney, at the principal office of the Company, or at such other office or
agency as the Company may designate in writing prior to the date of such exercise, in which event the Company shall issue to the
Holder the number of shares computed according to the following equation:

where

 

X = the number of
shares of Common Stock to be issued to the Holder.

 

Y = the number of
shares of Common Stock then purchasable under this Warrant or, if only a portion of the Warrant is being exercised, the number
of shares of Common Stock as to which the Warrant is being exercised.

 

A = the Fair Market
Value (defined below) of one share of Common Stock on the Exercise Date.

 

B = the Exercise
Price (as adjusted pursuant to the provisions of this Warrant).

 

For purposes of this
Section 2, in the case of a Cashless Exercise, the “Exercise Date” shall mean the day on which the Holder delivers
the Exercise Notice to the Company by hand or e-mail, or the day the Holder deposits the Exercise Notice in a facility of the
US mails or with a recognized overnight courier, and “Fair Market Value” of one share of Common Stock on the Exercise
Date shall have one of the following meanings:

 

(1)if the Common
Stock is traded on the NYSE MKT or other national securities exchange registered with the Securities and Exchange Commission pursuant
to the Securities Exchange Act of 1934, as amended, the Fair Market Value shall be deemed to be the average of the Closing Prices
over a five trading day period ending on the Exercise Date. For the purposes of this Agreement, “Closing Price” means
the closing sale price of one share of Common Stock, as reported by NYSE MKT or such other such national securities exchange,
or if NYSE MKT or such other national securities exchange does not publish such information, Bloomberg L.P; or

 

(2)if the Common
Stock is not traded on a national securities exchange, the Fair Market Value shall be deemed to be the average of the closing
bid and asked prices over the ten (10) Trading Day period ending on the Exercise Date; or

 

(3)if neither
(1) nor (2) is applicable, the Fair Market Value shall be at the commercially reasonable price per share which the Company could
obtain on the Exercise Date from a willing buyer (not a current employee or director) for shares of Common Stock sold by the Company,
from authorized but unissued shares, as determined in good faith by the Company’s Board of Directors.

     

     

    

b) Surrender.
Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the
Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full,
in which case, the Holder shall surrender this Warrant to the Company for cancellation within three Trading Days of the date the
final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of
the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares
purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall
maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any
objection to any Notice of Exercise Form within three Business Days of receipt of such notice. In the event of any dispute or
discrepancy, the records of the Company shall be controlling and determinative in the absence of manifest error. The Holder and
any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following
the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any
given time may be less than the amount stated on the face hereof.

 

c)Exercise
Price. The exercise price per share of the Common Stock under this Warrant shall be $0.15, subject to adjustment hereunder
(the “Exercise Price”).

 

d)Mechanics
of Exercise.

 

i.         Authorization of Warrant Shares. The Company covenants that all Warrant
Shares which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase
rights represented by this Warrant, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes,
liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring
contemporaneously with such issue).

 

ii.         Delivery of Certificates Upon Exercise. Certificates for shares purchased
hereunder shall be transmitted by the transfer agent of the Company to the Holder by crediting the account of the Holder’s
prime broker with the Depository Trust Company through its Deposit Withdrawal Agent Commission (“DWAC”) system
if the Company is a participant in such system, and otherwise by physical delivery to the address specified by the Holder in the
Notice of Exercise within 3 Trading Days from the delivery to the Company of the Notice of Exercise Form, surrender of this Warrant
(if required) and payment of the aggregate Exercise Price as set forth above (“Warrant Share Delivery Date”).
This Warrant shall be deemed to have been exercised on the date the Exercise Price is received by the Company. The Warrant Shares
shall be deemed to have been issued, and Holder or any other person so designated to be named therein shall be deemed to have
become a holder of record of such shares for all purposes, as of the date the Warrant has been exercised by payment to the Company
of the Exercise Price and all taxes required to be paid by the Holder, if any, pursuant to Section 2(c)(v) prior to the issuance
of such shares, have been paid.

 

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

                                                                 

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

     

     

    

v.         Charges,
Taxes and Expenses. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue
or transfer tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses
shall be paid by the Company, and such certificates shall be issued in the name of the Holder or in such name or names as may
be directed by the Holder; provided, however, that in the event certificates for Warrant Shares are to be
issued in a name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the
Assignment Form attached hereto duly executed by the Holder; and the Company may require, as a condition thereto, the payment
of a sum sufficient to reimburse it for any transfer tax incidental thereto.

 

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

 

Section 3.Certain Adjustments.

 

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

 

b)             Fundamental
Transaction. If, at any time while this Warrant is outstanding, (A) the Company effects any merger or consolidation of
the Company with or into another Person, (B) the Company effects any sale of all or substantially all of its assets in one or
a series of related transactions, (C) any tender offer or exchange offer (whether by the Company or another Person) is
completed pursuant to which holders of Common Stock are permitted to tender or exchange their shares for other securities,
cash or property, or (D) the Company effects any reclassification of the Common Stock or any compulsory share exchange
pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property (each
“Fundamental Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the
right to receive, for each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence
of such Fundamental Transaction, the number of shares of Common Stock of the successor or acquiring corporation or of the
Company, if it is the surviving corporation, and any additional consideration (the “Alternate
Consideration”) receivable as a result of such merger, consolidation or disposition of assets by a Holder of the
number of shares of Common Stock for which this Warrant is exercisable immediately prior to such event. For purposes of any
such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate
Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in such
Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a
reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of
Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then
the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant
following such Fundamental Transaction. To the extent necessary to effectuate the foregoing provisions, any successor to the
Company or surviving entity in such Fundamental Transaction shall issue to the Holder a new warrant consistent with the
foregoing provisions and evidencing the Holder’s right to exercise such warrant into Alternate Consideration. The terms
of any agreement pursuant to which a Fundamental Transaction is effected shall include terms requiring any such successor or
surviving entity to comply with the provisions of this Section 3(b) and insuring that this Warrant (or any such replacement
security) will be similarly adjusted upon any subsequent transaction analogous to a Fundamental Transaction. 

     

     

    

Notwithstanding
anything to the contrary, in the event of a Fundamental Transaction that is an all cash transaction, whereby the holders of
Common Stock immediately prior to such event are to receive cash in substitution for their shares, and, upon the exercise of
this Option the Holder is entitled to receive an amount in cash which, on a per share basis is less than the Exercise Price
then in effect, this Agreement shall be deemed to have terminated as of the date of such change.

 

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

 

d)            
Voluntary Adjustment By Company. The Company may at any time during the term of this Warrant reduce the then current Exercise
Price to any amount and for any period of time deemed appropriate by the Board of Directors of the Company.

 

e)             
Notice to Holder.

 

i.         Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company
shall promptly mail to the Holder a notice setting forth the Exercise Price after such adjustment and setting forth a brief
statement of the facts requiring such adjustment. If the Company enters into a Variable Rate Transaction (as defined in the
Purchase Agreement) despite the prohibition thereon in the Purchase Agreement, the Company shall be deemed to have issued
Common Stock or Common Stock Equivalents at the lowest possible conversion or exercise price at which such securities may be
converted or exercised.

 

ii.         Notice to Allow Exercise by Holder. If (A) the Company shall declare
a dividend (or any other distribution in whatever form) on the Common Stock; (B) the Company shall declare a special nonrecurring
cash dividend on or a redemption of the Common Stock; (C) the Company shall authorize the granting to all holders of the Common
Stock rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any rights; (D) the approval
of any stockholders of the Company shall be required in connection with any reclassification of the Common Stock, any consolidation
or merger to which the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, of any
compulsory share exchange whereby the Common Stock is converted into other securities, cash or property; (E) the Company shall
authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company; then, in each case,
the Company shall cause to be mailed to the Holder at its last address as it shall appear upon the Warrant Register of the Company,
at least 20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date
on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record
is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions,
redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale,
transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the
Common Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable
upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to mail such notice
or any defect therein or in the mailing thereof shall not affect the validity of the corporate action required to be specified
in such notice. The Holder is entitled to exercise this Warrant during the 20-day period commencing on the date of such notice
to the effective date of the event triggering such notice.

     

     

    

Section 4.Transfer of Warrant.

 

a)              Transferability.
Subject to compliance with any applicable securities laws and the conditions set forth in Section 4(d) hereof and to the
provisions of Section 4.1 of the Purchase Agreement, this Warrant and all rights hereunder (including, without limitation,
any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the
Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached
hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the
making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new
Warrant or Warrants in the name of the assignee or assignees and in the denomination or denominations specified in such
instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so
assigned, and this Warrant shall promptly be cancelled. A Warrant, if properly assigned, may be exercised by a new holder for
the purchase of Warrant Shares without having a new Warrant issued.

 

b)            
New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office
of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued,
signed by the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved
in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or
Warrants to be divided or combined in accordance with such notice.

 

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

 

d)            
Transfer Restrictions. If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant,
the transfer of this Warrant shall not be registered pursuant to an effective registration statement under the Securities Act
and under applicable state securities or blue sky laws, the Company may require, as a condition of allowing such transfer, that
(i) the Holder or transferee of this Warrant, as the case may be, furnish to the Company a written opinion of counsel acceptable
to the Company (which opinion shall be in form, substance and scope customary for opinions of counsel in comparable transactions)
to the effect that such transfer may be made without registration under the Securities Act and under applicable state securities
or blue sky laws, and (ii) the Holder or transferee execute and deliver to the Company an investment letter in form and substance
acceptable to the Company, and (iii) the transferee is not a U.S. Person (as defined in Rule 902(k) of Regulation S under the
Securities Act or is an “accredited investor” as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7), or (a)(8) promulgated
under the Securities Act..

 

Section 5.Miscellaneous.

 

a)             
No Rights as Shareholder Until Exercise. This Warrant does not entitle the Holder to any voting rights or other rights
as a shareholder of the Company prior to the exercise hereof as set forth in Section 2(c)(ii).

 

b)            
Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case
of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate,
if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation,
in lieu of such Warrant or stock certificate.

 

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

     

     

    

d)            
Authorized Shares.

 

The Company
covenants that during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient
number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant.
The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged
with the duty of executing stock certificates to execute and issue the necessary certificates for the Warrant Shares upon the
exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure
that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements
of the Trading Market upon which the Common Stock may be listed.

 

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

 

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

 

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

 

f)             
Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered,
will have restrictions upon resale imposed by state and federal securities laws.

 

g)            
Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder
shall operate as a waiver of such right or otherwise prejudice Holder’s rights, powers or remedies, notwithstanding the
fact that all rights hereunder terminate on the Termination Date. If the Company willfully and knowingly fails to comply with
any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to Holder such amounts
as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including
those of appellate proceedings, incurred by Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any
of its rights, powers or remedies hereunder.

 

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

 

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

     

     

    

j)              
Remedies. Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will
be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate
compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and
not to assert the defense in any action for specific performance that a remedy at law would be adequate.

 

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

 

l)              
Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company
and the Holder.

 

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

 

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

 

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

 

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

 

 

	 	EVENT CARDIO
        GROUP, INC.

         

         

	 	By:__________________________________________

        John Bentivoglio

        President and CEO

    	 

    	 

    

NOTICE OF EXERCISE

(paid in cash)

 

 

To:
EVENT CARDIO GROUP, INC.

 

 

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

 

(2)  Payment
shall take the form of in lawful money of the United States.

 

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

 

_______________________________

 

 

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

 

_______________________________

 

_______________________________

 

_______________________________

 

(4)  Status of Holder
Exercising Warrant: The undersigned is (check the applicable box(es) below):

 

[ ] an “accredited investor” as defined in Rule
501(a) of Regulation D promulgated under the Securities Act of 1933, as amended; or

 

[ ] not a “U.S. Person” as defined in of Rule
902(k) of Regulation S under the Securities Act.

 

 

Name: ____________________________________________________

 

Signature: _________________________________________________

 

Date: ______________________________________________________

    	 

    	 

    

NOTICE OF EXERCISE

(cashless exercise)

 

To:
EVENT CARDIO GROUP, INC.

 

 

(1)   The undersigned
hereby elects to convert his right to purchase _______ Warrant Shares of Common Stock of Event Cardio Group, Inc. (the “Company”),
as provided in the Warrant Agreement dated February , 2016 (the “Stock Option Agreement”), into ____ shares of the
Common Stock of the Company (based on a fair market value per share of $_______ ). Please issue the shares in accordance with
the instructions given below.

 

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

_______________________________

 

 

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

 

_______________________________

 

_______________________________

 

_______________________________

 

(3)  Status of Holder
Exercising Warrant: The undersigned is (check the applicable boxe(s) below):

 

[ ] an “accredited investor” as defined in Rule
501(a) of Regulation D promulgated under the Securities Act of 1933, as amended; or

 

[ ] not a “U.S. Person” as defined in of Rule
902(k) of Regulation S under the Securities Act.

 

 

Name: ____________________________________________________

 

Signature: _________________________________________________

 

Date: ______________________________________________________

    	 

    	 

    

ASSIGNMENT FORM

 

(To assign the foregoing warrant, execute this form and
supply required information.

Do not use this form to exercise the warrant.)

 

 

 

FOR VALUE RECEIVED, [____] all of or [_______] shares of
the foregoing Warrant and all rights evidenced thereby are hereby assigned to _______________________________________________
whose address is _______________________________________________________________.

  

_______________________________________________________________

 

Dated: ______________,
_______

 

 

Holder’s Signature:_____________________________

 

Holder’s Address:_____________________________

 

_____________________________

 

 

 

Signature Guaranteed: ___________________________________________

 

 

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

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