Document:

Exhibit 10.31 

 

UNLESS
PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT TRADE THE SECURITY BEFORE [the date which is four
months and one day after the Closing Date will be inserted].

 

“WITHOUT
PRIOR WRITTEN APPROVAL OF THE TSX VENTURE EXCHANGE AND COMPLIANCE WITH ALL APPLICABLE SECURITIES LEGISLATION, THE SECURITIES REPRESENTED
BY OR UNDERLYING THIS CERTIFICATE MAY NOT BE SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE TRADED ON OR THROUGH THE FACILITIES
OF THE TSX VENTURE EXCHANGE OR OTHERWISE IN CANADA OR TO OR FOR THE BENEFIT OF A CANADIAN RESIDENT UNTIL [insert date that is
four (4) months and one (1) day after Closing Date].

 

NEITHER
THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE
COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO,
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A
LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.
THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN
ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

COMMON
STOCK PURCHASE WARRANT

 

BRIACELL
THERAEPUTICS CORP.

 

 

	Warrant
    Shares: 	Issuance
    Date: [Applicable Conversion Date]
	Warrant
    No: 2018-	 

 

THIS
COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, [●], or its assigns (the
“Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter
set forth, at any time on or after the date hereof (the “Initial Exercise Date”) and on or prior to the close
of business on [36 months from issuance date] (the “Termination Date”) but not thereafter, to subscribe
for and purchase from BRIACELL THERAEPUTICS CORP., a corporation incorporated under the laws of the Business Corporation Act
(British Columbia) (the “Company”), up to __________ shares (as subject to adjustment hereunder, the “Warrant
Shares”) of 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).

 

    	 	 	 

    		-2-	 

    

 

	Section
    1.	Definitions.

 

Capitalized
terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase Agreement (the
“Purchase Agreement”), dated March __, 2018, among the Company and the purchaser’s signatory thereto and the
Note issued to the Holder contemporaneously with Purchase Agreement.

 

	Section
    2.	Exercise.

 

	 	(a)	Exercise
    of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the
    Initial Exercise Date and on or before the Termination Date by delivery to the Company (or such other office or agency of
    the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing on the
    books of the Company) of a duly executed facsimile copy of the Notice of Exercise Form annexed hereto. Within five (5) Trading
    Days following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the shares specified
    in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a Canadian bank unless the cashless exercise
    procedure specified in Section 2(c) below is specified in the applicable Notice of Exercise. Notwithstanding anything herein
    to the contrary (although the Holder may surrender the Warrant to, and receive a replacement Warrant from, the Company), the
    Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the
    Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this
    Warrant to the Company for cancellation within five (5) 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 two (2) Trading Days of delivery of such notice. 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.
	 	 	 
	 	(b)	Exercise
    Price. The initial exercise price per share of the Common Stock under this Warrant shall be $0.14, subject to adjustment
    hereunder (the “Exercise Price”).

 

    	 	 	 

    		-3-	 

    

 

	 	(c)	Cashless
    Exercise. If at any time after the Initial Exercise Date, there is no effective Registration Statement registering, or
    no current prospectus available for the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised
    at the Holder’s election, in whole or in part, at such time by means of a “cashless exercise” in which the Holder
    shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:
	 	 	 
	 	 	(A)
    = the VWAP on the Trading Day immediately preceding the date on which Holder elects to exercise this Warrant by means of a
    “cashless exercise” as set forth in the applicable Notice of Exercise;
	 	 	 
	 	 	(B)
    = the Exercise Price of this Warrant, as adjusted hereunder; and
	 	 	 
	 	 	(X)
    = the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant
    if such exercise were by means of a cash exercise rather than a cashless exercise.

 

Notwithstanding
anything herein to the contrary, on the Termination Date, unless the Holder notifies the Company otherwise, if there is no effective
Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then
this Warrant shall be automatically exercised via cashless exercise pursuant to this Section 2(c).

 

	 	(d)	Mechanics
    of Exercise.

 

	 	(i)	Delivery
    of Certificates Upon Exercise. Certificates for shares purchased hereunder shall be transmitted by the Transfer Agent
    to the Holder by crediting the account of the Holder’s prime broker with The Depository Trust Company through its Deposit
    or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant in such system and either
    (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant
    Shares by the Holder or (B) this Warrant is being exercised via cashless exercise and NS 45-106 or Rule 144 is available,
    and otherwise by physical delivery to the address specified by the Holder in the Notice of Exercise by the date that is three
    (3) Trading Days after the latest of (A) the delivery to the Company of the Notice of Exercise, (B) surrender of this Warrant
    (if required) and (C) payment of the aggregate Exercise Price as set forth above (including by cashless exercise, if permitted)
    (such date, the “Warrant Share Delivery Date”). The Warrant Shares shall be deemed to have been issued, and
    Holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such shares
    for all purposes, as of the date the Warrant has been exercised, with payment to the Company of the Exercise Price (or by
    cashless exercise, if permitted) and all taxes required to be paid by the Holder, if any, pursuant to Section 2(d)(vi) prior
    to the issuance of such shares, having been paid. The Company understands that a delay in the delivery of the Warrant Shares
    after the Warrant Share Delivery Date could result in economic loss to the Holder. As compensation to the Holder for such
    loss, the Company agrees to pay (as liquidated damages and not as a penalty) to the Holder for late issuance of Warrant Shares
    upon exercise of this Warrant the proportionate amount of $10 per Trading Day (increasing to $20 per Trading Day after the
    fifth (5th) Trading Day) after the Warrant Share Delivery Date for each $1,000 of Exercise Price of Warrant Shares for which
    this Warrant is exercised which are not timely delivered. The Company shall pay any payments incurred under this Section in
    immediately available funds- upon demand. Furthermore, in addition to any other remedies which may be available to the Holder,
    in the event that the Company fails for any reason to effect delivery of the Warrant Shares by the Warrant Share Delivery
    Date, the Holder may revoke all or part of the relevant Warrant exercise by delivery of a notice to such effect to the Company,
    whereupon the Company and the Holder shall each be restored to their respective positions immediately prior to the exercise
    of the relevant portion of this Warrant, except that the liquidated damages described above shall be payable through the date
    notice of revocation or rescission is given to the Company.

 

    	 	 	 

    		-4-	 

    

 

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

 

    	 	 	 

    		-5-	 

    

 

	 	(v)	No
    Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
    of this Warrant, As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise,
    the Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such
    fraction multiplied by the Exercise Price or round up to the next whole share.
	 	 	 
	 	(vi)	Charges,
    Taxes and Expenses. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue
    or transfer tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses
    shall be paid by the Company, and such certificates shall be issued in the name of the Holder or in such name or names as
    may be directed by the Holder; provided, however, that in the event certificates for Warrant Shares are to be issued in a
    name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment
    Form attached hereto duly executed by the Holder and the Company may require, as a condition thereto, the payment of a sum
    sufficient to reimburse it for any transfer tax incidental thereto. The Company shall pay all Transfer Agent fees required
    for same-day processing of any Notice of Exercise.
	 	 	 
	 	(vii)	Closing
    of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise
    of this Warrant, pursuant to the terms hereof.

 

    	 	 	 

    		-6-	 

    

 

	 	(e)	Holder’s
    Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right
    to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such
    issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates,
    and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates), would beneficially own
    in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of
    shares of Common Stock beneficially owned by the Holder and its Affiliates shall include the number of shares of Common Stock
    issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number
    of shares of Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant
    beneficially owned by the Holder or any of its Affiliates and (ii) exercise or conversion of the unexercised or nonconverted
    portion of any other securities of the Company (including, without limitation, any other Common Stock Equivalents) subject
    to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder, or
    any of its Affiliates. Except as set forth in the preceding sentence, for purposes of this Section 2(e), beneficial ownership
    shall be calculated in accordance with Applicable Securities Laws, it being acknowledged by the Holder that the Company is
    not representing to the Holder that such calculation is in compliance with Applicable Securities Laws and the Holder is solely
    responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in
    this Section 2(e) applies, the determination of whether this Warrant is exercisable (in relation to other securities owned
    by the Holder together with any Affiliates) and of which portion of this Warrant is exercisable shall be in the sole discretion
    of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this
    Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and of which portion
    of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no
    obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as
    contemplated above shall be determined in accordance with Applicable Securities Laws. For purposes of this Section 2(e), in
    determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common
    Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the TSX Venture Exchange, as the
    case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice by the Company or the
    Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder,
    the Company shall within three (3) Trading Days confirm orally and in writing to the Holder the number of shares of Common
    Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect
    to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates since
    the date as of which such number of outstanding shares of Common Stock was reported.  The “Beneficial Ownership
    Limitation” shall be 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect
    to the issuance of shares of Common Stock issuable upon exercise of this Warrant. The Holder may decrease the Beneficial Ownership
    Limitation at any time and the Holder, upon not less-than 61 days’ prior notice to the Company, may increase the Beneficial
    Ownership Limitation provisions of this Section 2(e), provided that the Beneficial Ownership Limitation in no event exceeds
    9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of
    Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 2(e) shall continue to apply.
    Any such increase will not be effective until the 61st day after such notice is delivered to the Company. The provisions of
    this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section
    2(e) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial
    Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to
    such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

 

    	 	 	 

    		-7-	 

    

 

	Section
    3.	Certain
    Adjustments.

 

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

 

    	 	 	 

    		-8-	 

    

 

	 	(b)	Subsequent
    Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues
    or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata
    to the record holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will
    be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder
    could have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this
    Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation)
    immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no
    such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant,
    issue or sale of such Purchase Rights (provided, however, to the extent that the Holder’s right to participate in any such
    Purchase Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled
    to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of
    such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until
    such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).
	 	 	 
	 	(c)	Pro
    Rata Distributions. If the Company, at any time while this Warrant is outstanding, shall distribute to all holders of
    Common Stock (and not to the Holder) evidences of its indebtedness or assets (including cash and cash dividends) or rights
    or warrants to subscribe for or purchase any security other than the Common Stock (which shall be subject to Section 3(c)),
    then in each such case the Exercise Price shall be adjusted by multiplying the Exercise Price in effect immediately prior
    to the record date fixed for determination of stockholders entitled to receive such distribution by a fraction of which the
    denominator shall be the VWAP determined as of the record date mentioned above, and of which the numerator shall be such VWAP
    on such record date less the then per share fair market value at such record date of the portion of such assets or evidence
    of indebtedness so distributed applicable to one outstanding share of the Common Stock as determined by the Board of Directors
    in good faith. In either case the adjustments shall be described in a statement provided to the Holder of the portion of assets
    or evidences of indebtedness so distributed or such subscription rights applicable to one share of Common Stock. Such adjustment
    shall be made whenever any such distribution is made and shall become effective immediately after the record date mentioned
    above.

 

    	 	 	 

    		-9-	 

    

 

	 	(d)	Fundamental
    Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more
    related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly
    or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially
    all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer
    or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common Shares are permitted
    to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50%
    or more of the outstanding Common Shares, (iv) the Company, directly or indirectly, in one or more related transactions effects
    any reclassification, reorganization or recapitalization of the Common Shares or any compulsory share exchange pursuant to
    which the Common Shares are effectively converted into or exchanged for other securities, cash or property, or (v) the Company,
    directly or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other business
    combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another
    Person or group of Persons whereby such other Person or group acquires more than 50% of the outstanding Common Shares (not
    including any Common Shares held by the other Person or other Persons making or party to, or associated or affiliated with
    the other Persons making or party to, such stock or share purchase agreement or other business combination) (each a “Fundamental
    Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for
    each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental
    Transaction, at the option of the Holder (without regard to any limitation in Section 2(e) on the exercise of this Warrant),
    the number of Common Shares of the successor or acquiring corporation or of the Company, if it is the surviving corporation,
    and any additional consideration (the “Alternate Consideration”) receivable as a result of such Fundamental
    Transaction by a holder of the number of Common Shares for which this Warrant is exercisable immediately prior to such Fundamental
    Transaction (without regard to any limitation in Section 2(e) on the exercise of this Warrant). For purposes of any such exercise,
    the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on
    the amount of Alternate Consideration issuable in respect of one Common Share 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 Shares 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. The Company shall cause
    any successor entity in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”)
    to assume in writing all of the obligations of the Company under this Warrant and the other Transaction Documents in accordance
    with the provisions of this Section 3(d) pursuant to written agreements in form and substance reasonably satisfactory to the
    Holder and approved by the Holder (without unreasonable delay) prior to or contemporaneously with such Fundamental Transaction
    and shall, at the option of the Holder, deliver to the Holder in exchange for this. Warrant a security of the Successor Entity
    evidenced by a written instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding
    number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the Common Shares acquirable
    and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to
    such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of capital
    stock (but taking into account the relative value of the Common Shares pursuant to such Fundamental Transaction and the value
    of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose of protecting
    the economic value of this Warrant-immediately prior to the consummation of such Fundamental Transaction), and which is reasonably
    satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity
    shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions
    of this Warrant and the other Transaction Documents referring to the “Company” shall refer instead to the Successor
    Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company under
    this Warrant and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company
    herein. Notwithstanding anything to the contrary contained herein, the Company shall not enter into a Fundamental Transaction
    unless the holders of Common Shares receive securities of an entity that is listed on a stock exchange in Canada or the United
    States, or cash, equal to the Black Scholes Value of the remaining unexercised portion of this Warrant on the date of the
    consummation of such Fundamental Transaction. “Black Scholes Value” means the value of this Warrant based
    on the Black and Scholes Option Pricing Model obtained from the “OV” function on Bloomberg, L.P. (“Bloomberg”)
    determined as of the day of consummation of the applicable Fundamental Transaction for pricing purposes and reflecting (A)
    a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the time between the date of the public
    announcement of the applicable Fundamental Transaction and the Termination Date, (B) an expected volatility equal to the greater
    of 100% and the 100 day volatility obtained from the HVT function on Bloomberg as of the Trading Day immediately following
    the public announcement of the applicable Fundamental Transaction, (C) the underlying price per share used in such calculation
    shall be the sum of the price per share being offered in cash, if any, plus the value of any non-cash consideration, if any,
    being offered in such Fundamental Transaction and (D) a remaining option time equal to the time between the date of the public
    announcement of the applicable Fundamental Transaction and the Termination Date. The payment of the Black Scholes Value will
    be made by wire transfer of immediately available funds within five Business Days of the Holder’s election (or, if later,
    on the effective date of the Fundamental Transaction).

 

    	 	 	 

    		-10-	 

    

 

	 	(e)	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.
	 	 	 
	 	(f)	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 any resulting adjustment to
    the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

    	 	 	 

    		-11-	 

    

 

	 	(ii)	Notice
    to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form)
    on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock,
    (C) the Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase
    any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required
    in connection with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party,
    any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the
    Common Stock is converted into other securities, or (E) the Company shall authorize the voluntary or involuntary dissolution,
    liquidation or winding up of the affairs of the Company, then, in each case, to the extent that such information constitutes
    material non-public information (as determined in good faith by the Company) the Company shall follow the procedure described
    in Section 13 of the Subscription Agreement and shall deliver to the Holder at its last address as it shall appear upon the
    Warrant Register of the Company, at least 20 calendar days prior to the applicable record or effective date hereinafter specified,
    a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption,
    rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be
    entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such
    reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the
    date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares of the
    Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer
    or share exchange; provided that the failure to 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. To the extent that any notice provided
    hereunder constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the
    Company shall simultaneously file such notice with the with the TSX Venture Exchange. The Holder shall remain entitled to
    exercise this Warrant during the period commencing on the date of such notice to the effective date of the event triggering
    such notice except as may otherwise be expressly set forth herein.

 

	 	(g)	Increase
    in Warrant Shares. In the event the Exercise Price is reduced for any reason, the number of Warrant Shares issuable hereunder
    shall be increased such that the aggregate Exercise Price payable hereunder, after taking into account the decrease in the
    Exercise Price, shall be equal to the aggregate Exercise Price prior to such adjustment.

 

    	 	 	 

    		-12-	 

    

 

	Section
    4.	Transfer
    of Warrant.

 

	 	(a)	Transferability.
    Subject to compliance with any applicable securities laws and the provisions of the Purchase Agreement, this Warrant and all
    rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender
    of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of this
    Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient
    to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the
    Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in
    the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant
    evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. The Warrant, if properly
    assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a new
    Warrant issued.
	 	 	 
	 	(b)	New
    Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office
    of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued,
    signed by the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved
    in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant
    or Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall
    be dated the initial issuance date of this Warrant and shall be identical with this Warrant except as to the number of Warrant
    Shares issuable pursuant thereto.
	 	 	 
	 	(c)	Warrant
    Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the
    “Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and
    treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution
    to the Holder, and for all other purposes, absent actual notice to the contrary.

 

	Section
    5.	Miscellaneous.

 

	 	(a)	No
    Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividends or other
    rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i).
	 	 	 
	 	(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.

 

    	 	 	 

    		-13-	 

    

 

	 	(c)	Saturdays,
    Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required
    or granted herein shall not be a Trading Day, then, such action may be taken or such right may be exercised on the next succeeding
    Trading Day.
	 	 	 
	 	(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.
    The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented by
    this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant Shares in
    accordance herewith, be duly authorized, validly issued, fully paid and non-assessable and free from all taxes, liens and
    charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously
    with such issue). Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including,
    without limitation, amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation,
    merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance
    of any of the terms-of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and
    in the taking of all such actions as may be necessary or appropriate to protect the rights, of Holder as set forth in this
    Warrant against impairment. Without limiting the generality of the foregoing, the Company will (i) not increase the par value
    of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such increase in par value,
    (ii) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully
    paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use 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.

 

    	 	 	 

    		-14-	 

    

 

	 	(e)	Jurisdiction.
    All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in
    accordance with the provisions of the Purchase Agreement.
	 	 	 
	 	(f)	Restrictions.
    The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, or unless exercised
    in a cashless exercise when NS 45-106 or Rule 144 is available, and the Holder does not utilize cashless exercise, will have
    restrictions upon resale imposed by Applicable Securities Laws.
	 	 	 
	 	(g)	Non-waiver
    and Expenses; Dollar Amounts. No course of dealing or any delay or failure to exercise any right hereunder on the part
    of Holder shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without
    limiting any other provision of this Warrant or the Purchase Agreement, if the Company willfully and knowingly fails to comply
    with any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder
    such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees,
    including those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise
    enforcing any of its rights, powers or remedies hereunder. Unless otherwise stated herein, all dollar amounts are in CDN$.
	 	 	 
	 	(h)	Notices.
    Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be
    delivered in accordance with the notice provisions of the Purchase Agreement.
	 	 	 
	 	(i)	Limitation
    of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to
    purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability
    of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted
    by the Company or by creditors of the Company.
	 	 	 
	 	(j)	Remedies.
    The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
    to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
    for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to
    assert the defense in any action for specific performance that a remedy at law would be adequate.
	 	 	 
	 	(k)	Successors
    and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall
    inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted
    assigns of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this
    Warrant and shall be enforceable by the Holder or holder of Warrant Shares.

 

    	 	 	 

    		-15-	 

    

 

	 	(l)	Amendment.
    This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holders
    of not less than a majority of the outstanding Warrants issued pursuant to the Purchase Agreement.
	 	 	 
	 	(m)	Severability.
    Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable
    law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be
    ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the
    remaining, provisions of this Warrant.
	 	 	 
	 	(n)	Headings.
    The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part
    of this Warrant.

 

(Signature
Page Follows)

 

    	 	 	 

    	 

    

 

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.

 

	 	BRIACELL
    THERAEPUTICS CORP.
	 	 	 
	 	 	 
	 	Per:	                 
	 	Name:	 
	 	Title:	 

 

    	 	 	 

    	 

    

 

NOTICE
OF EXERCISE

 

	TO:
    	BRIACELL
    THERAEPUTICS CORP.

 

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.

 

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

 

[  ] in lawful money of Canada; or

 

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

 ________________________________

 

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

 

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

 

________________________________

 

 ________________________________

 

 ________________________________

 

[SIGNATURE
OF HOLDER]

 

Name
of Investing Entity:____________________________________________________________________________

 

Signature
of Authorized Signatory of Investing Entity:______________________________________________________

 

Name
of Authorized Signatory:________________________________________________________________________

 

Title
of Authorized Signatory:_________________________________________________________________________

 

Date:___________________________________________________________________________________________

 

    	 	 	 

    	 

    

 

ASSIGNMENT
FORM

 

(To
assign the foregoing warrant, execute this form and supply required information. Do not use this form to exercise the warrant.)

 

BRIACELL
THERAEPUTICS CORP.

 

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

 

____________________________________________________________whose
address is

 

 _________________________________________________________________________

 

 _________________________________________________________________________

 

Dated:___________________________________

 

Holder’s
Signature:_______________________________________

 

Holder’s
Address:________________________________________

 

Signature
Guaranteed:__________________________________________________

 

NOTE:
The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration
or enlargement or any change whatsoever, and must be guaranteed by a bank or trust company. Officers of corporations and those
acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.Exhibit
10.32 

 

UNLESS
PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT TRADE THE SECURITY BEFORE JULY 17, 2018.

 

WITHOUT
PRIOR WRITTEN APPROVAL OF TSX VENTURE EXCHANGE AND COMPLIANCE WITH ALL APPLICABLE SECURITIES LEGISLATION, THE SECURITIES REPRESENTED
BY THIS CERTIFICATE MAY NOT BE SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE TRADED ON OR THROUGH THE FACILITIES OF TSX VENTURE
EXCHANGE OR OTHERWISE IN CANADA OR TO OR FOR THE BENEFIT OF A CANADIAN RESIDENT UNTIL JULY 17, 2018.

 

WARRANTS
TO PURCHASE

COMMON SHARES OF BRIACELL THERAPEUTICS CORP.

 

	Warrant
    Certificate Number: 	Number
    of Warrants:
	 	 
	2018
    March – FW[●]	[●]

 

THIS
IS TO CERTIFY THAT for value received by [●] at [●] (the “Warrantholder”)
has the right to purchase in respect of each whole warrant (“Warrants”) represented by this certificate or
by a replacement certificate (in either case this “Warrant Certificate”), at any time up to 5:00 p.m. (Toronto
time), on March 16, 2021 (the “Expiry Time”) one fully paid and non-assessable common share (“Common
Shares”) and which term shall include any shares or other securities to be issued in addition thereto or in substitution
or replacement therefor as provided herein) of BriaCell Therapeutics Corp. (the “Corporation”), a corporation
organized under the Business Corporations Act (British Columbia), as constituted on the date hereof at a purchase price
(the purchase price in effect from time to time being called the “Exercise Price”) of $0.14 per Common Share,
subject to adjustment as provided herein.

 

The
Corporation agrees that the Common Shares purchased pursuant to the exercise of the Warrants shall be and be deemed to be issued
to the Warrantholder as of the close of business on the date on which this Warrant Certificate shall have been surrendered and
payment made for such Common Shares as aforesaid.

 

Nothing
contained herein shall confer any right upon the Warrantholder to subscribe for or purchase any Common Shares at any time after
the Expiry Time and from and after the Expiry Time the Warrants and all rights under this Warrant Certificate shall be void and
of no value.

 

The
above provisions are subject to the following:

 

	1.	Exercise:

 

	(1)	Cash
                                         Exercise: In the event that the Warrantholder desires to exercise the right to
                                         purchase Common Shares conferred hereby, the Warrantholder shall (a) complete to the
                                         extent possible in the manner indicated and execute a subscription form in the form attached
                                         as Schedule A to this Warrant Certificate, (b) surrender this Warrant Certificate to
                                         the Corporation in accordance with section 9 hereof, and (c) pay the amount payable on
                                         the exercise of such Warrants in respect of the Common Shares subscribed for by certified
                                         cheque, bank draft or money order in lawful money of Canada payable to the Corporation
                                         or by transmitting same day funds in lawful money of Canada by wire to such account as
                                         the Corporation shall direct the Warrantholder. Upon such surrender and payment as aforesaid,
                                         the Warrantholder shall be deemed for all purposes to be the holder of record of the
                                         number of Common Shares to be so issued and the Warrantholder shall be entitled to delivery
                                         of a certificate or certificates representing such Common Shares and the Corporation
                                         shall cause such certificate or certificates to be delivered to the Warrantholder at
                                         the address specified in the subscription form within five (5) business days after such
                                         surrender and payment as aforesaid. No fractional Common Shares will be issuable upon
                                         any exercise of the Warrants and the Warrantholder will not be entitled to any cash payment
                                         or compensation in lieu of a fractional Common Share.

 

    	 		 

    	 	-2-	 

    

 

	(2)	US Persons: Notwithstanding any provision in sections 1, 2 or 3 hereof, the Warrants may not be exercised, in whole or in part, by a U.S. Person or person within the United States (or on behalf of a U.S. Person or person within the United States) unless registered under the United States Securities Act of 1933, as amended (the “1933 Act”)and applicable state securities laws or unless an exemption from such registration is available. As used herein, the terms “United States” and “U.S. Person” have the meaning assigned to them in Regulation S under the 1933 Act.

 

	2.	Partial
                                         Exercise: The Warrantholder may from time to time subscribe for and purchase
                                         any lesser number of Common Shares than the number of Common Shares expressed in this
                                         Warrant Certificate. In the event that the Warrantholder subscribes for and purchases
                                         any such lesser number of Common Shares prior to the Expiry Time, the Warrantholder shall
                                         be entitled to receive a replacement certificate representing the unexercised balance
                                         of the Warrants.

 

	3.	Not
                                         a Shareholder: The holding of the Warrants shall not constitute the Warrantholder
                                         a shareholder of the Corporation nor entitle the Warrantholder to any right or interest
                                         in respect thereof except as expressly provided in this Warrant Certificate.

 

	4.	Covenants,
                                         Representations and Warranties: The Corporation hereby represents and warrants
                                         that it is authorized to create and issue the Warrants and covenants and agrees that
                                         it will cause the Common Shares from time to time subscribed for and purchased in the
                                         manner provided in this Warrant Certificate and the certificate or certificates representing
                                         such Common Shares to be issued and that, at all times prior to the Expiry Time, it will
                                         reserve and there will remain unissued a sufficient number of Common Shares to satisfy
                                         the right of purchase provided for in this Warrant Certificate. The Corporation hereby
                                         further covenants and agrees that it will at its expense expeditiously use its best efforts
                                         to obtain the listing of such Common Shares (subject to issue or notice of issue) on
                                         each stock exchange or over-the-counter market on which the Common Shares may be listed
                                         on the date that the Warrantholder exercises its right to subscribe for and purchase
                                         Common Shares pursuant to the terms and conditions of this Warrant Certificate. all Common
                                         Shares that are issued upon the exercise of the right of purchase provided in this Warrant
                                         Certificate, upon payment therefor of the amount at which such Common Shares may be purchased
                                         pursuant to the provisions of this Warrant Certificate, shall be and be deemed to be
                                         fully paid and non-assessable shares and free from all taxes, liens and charges with
                                         respect to the issue thereof. The Corporation hereby represents and warrants that this
                                         Warrant Certificate is a valid and enforceable obligation of the Corporation, enforceable
                                         in accordance with the provisions of this Warrant Certificate.

 

	5.	Anti-Dilution
                                         Protection:

 

	(1)	Definitions:
                                         For the purposes of this section 5, unless there is something in the subject matter or
                                         context inconsistent therewith, the words and terms defined below shall have the respective
                                         meanings specified therefor in this subsection 5(1):

 

		(a)	“Adjustment
                                         Period” means the period commencing on the date of issue of the Warrants and
                                         ending at the Expiry Time;

 

    	 		 

    	 	-3-	 

    

 

		(b)	“Current
                                         Market Price” means, at any date, the price per Common Share equal to the weighted
                                         average price at which the Common Shares have traded on the TSX Venture Exchange or,
                                         if the Common Shares are not then listed on the TSX Venture Exchange, on such other Canadian
                                         stock exchange as may be selected by the directors of the Corporation for such purpose
                                         or, if the Common Shares are not then listed on any Canadian stock exchange, in the over-the-counter
                                         market, during the period of any twenty (20) consecutive trading days ending not more
                                         than five (5) business days before such date; provided that the weighted average price
                                         shall be determined by dividing the aggregate sale price of all Common Shares sold on
                                         the said exchange or market, as the case may be, during such twenty (20) consecutive
                                         trading days by the total number of Common Shares so sold; and provided further that
                                         if the Common Shares are not then listed on any Canadian stock exchange or traded in
                                         the over-the-counter market, then the Current Market Price shall be determined by a firm
                                         of independent chartered accountants selected by the directors of the Corporation;

 

		(c)	“director”
                                         means a director of the Corporation for the time being and, unless otherwise specified
                                         herein, a reference to action “by the directors” means action by the directors
                                         of the Corporation as a board or, whenever empowered, action by any committee of the
                                         directors of the Corporation; and

 

		(d)	“trading
                                         day” with respect to a stock exchange or over-the-counter market means a day
                                         on which such stock exchange or market is open for business.

 

	(2)	Adjustments:
                                         The Exercise Price and the number of Common Shares issuable to the Warrantholder upon
                                         the exercise of the Warrants shall be subject to adjustment from time to time in the
                                         events and in the manner provided as follows:

 

		(a)	If
                                         at any time during the Adjustment Period the Corporation shall:

 

		(i)	fix
                                         a record date for the issue of, or issue, Common Shares to the holders of all or substantially
                                         all of the outstanding Common Shares by way of a stock dividend;

 

		(ii)	fix
                                         a record date for the distribution to, or make a distribution to, the holders of all
                                         or substantially all of the outstanding Common Shares payable in Common Shares or securities
                                         exchangeable for or convertible into Common Shares;

 

		(iii)	subdivide
                                         the outstanding Common Shares into a greater number of Common Shares; or

 

		(iv)	consolidate
                                         the outstanding Common Shares into a lesser number of Common Shares,

 

(any
of such events in subclauses 5(2)(a)(i), 5(2)(a)(ii), 5(2)(a)(iii) and 5(2)(a)(iv) above being herein called a “Common
Share Reorganization”), the Exercise Price shall be adjusted on the earlier of the record date on which holders of Common
Shares are determined for the purposes of the Common Share Reorganization and the effective date of the Common Share Reorganization
to the amount determined by multiplying the Exercise Price in effect immediately prior to such record date or effective date,
as the case may be, by a fraction:

 

		(A)	the
                                         numerator of which shall be the number of Common Shares outstanding on such record date
                                         or effective date, as the case may be, before giving effect to such Common Share Reorganization;
                                         and

 

    	 		 

    	 	-4-	 

    

 

		(B)	the
                                         denominator of which shall be the number of Common Shares which will be outstanding immediately
                                         after giving effect to such Common Share Reorganization (including in the case of a distribution
                                         of securities exchangeable for or convertible into Common Shares the number of Common
                                         Shares that would have been outstanding had such securities been exchanged for or converted
                                         into Common Shares on such date).

 

To
the extent that any adjustment in the Exercise Price occurs pursuant to this clause 5(2)(a) as a result of the fixing by the Corporation
of a record date for the distribution of securities exchangeable for or convertible into Common Shares, the Exercise Price shall
be readjusted immediately after the expiry of any relevant exchange or conversion right to the Exercise Price which would then
be in effect based upon the number of Common Shares actually issued and remaining issuable after such expiry and shall be further
readjusted in such manner upon the expiry of any further such right. Any Warrantholder who has not exercised his right to subscribe
for and purchase Common Shares on or prior to the record date of such stock dividend or distribution or the effective date of
such subdivision or consolidation, as the case may be, upon the exercise of such right thereafter shall be entitled to receive
and shall accept in lieu of the number of Common Shares then subscribed for and purchased by such Warrantholder, at the Exercise
Price determined in accordance with this clause 5(2)(a) the aggregate number of Common Shares that such Warrantholder would have
been entitled to receive as a result of such Common Share Reorganization, if, on such record date or effective date, as the case
may be, such Warrantholder had been the holder of record of the number of Common Shares so subscribed for and purchased.

 

		(b)	If
                                         at any time during the Adjustment Period the Corporation shall fix a record date for
                                         the issue or distribution to the holders of all or substantially all of the outstanding
                                         Common Shares of rights, options or warrants pursuant to which such holders are entitled,
                                         during a period expiring not more than 45 days after the record date for such issue (such
                                         period being the “Rights Period”), to subscribe for or purchase Common
                                         Shares or securities exchangeable for or convertible into Common Shares at a price per
                                         share to the holder (or in the case of securities exchangeable for or convertible into
                                         Common Shares, at an exchange or conversion price per share) at the date of issue of
                                         such securities of less than 95% of the Current Market Price on such record date (any
                                         of such events being called a “Rights Offering”), the Exercise Price
                                         shall be adjusted effective immediately after the record date for such Rights Offering
                                         to the amount determined by multiplying the Exercise Price in effect on such record date
                                         by a fraction:

 

		(i)	the
                                         numerator of which shall be the aggregate of

 

		(A)	the
                                         number of Common Shares outstanding on the record date for the Rights Offering, and

 

		(B)	the
                                         quotient determined by dividing

 

		(1)	either
                                         (a) the product of the number of Common Shares offered during the Rights Period pursuant
                                         to the Rights Offering and the price at which such Common Shares are offered, or, (b)
                                         the product of the exchange or conversion price of the securities so offered and the
                                         number of Common Shares for or into which the securities offered pursuant to the Rights
                                         Offering may be exchanged or converted, as the case may be, by

 

    	 		 

    	 	-5-	 

    

 

		(2)	the
                                         Current Market Price as of the record date for the Rights Offering; and

 

		(ii)	the
                                         denominator of which shall be the aggregate of the number of Common Shares outstanding
                                         on such record date and the number of Common Shares offered pursuant to the Rights Offering
                                         (including in the case of the issue or distribution of securities exchangeable for or
                                         convertible into Common Shares the number of Common Shares for or into which such securities
                                         may be exchanged or converted).

 

If
by the terms of the rights, options, or warrants referred to in this clause 5(2)(b), there is more than one purchase, conversion
or exchange price per Common Share, the aggregate price of the total number of additional Common Shares offered for subscription
or purchase, or the aggregate conversion or exchange price of the convertible or exchangeable securities so offered, shall be
calculated for purposes of the adjustment on the basis of the lowest purchase, conversion or exchange price per Common Share,
as the case may be. Any Common Shares owned by or held for the account of the Corporation shall be deemed not to be outstanding
for the purpose of any such calculation. To the extent that any adjustment in the Exercise Price occurs pursuant to this clause
5(2)(b) as a result of the fixing by the Corporation of a record date for the issue or distribution of rights, options or warrants
referred to in this clause 5(2)(b), the Exercise Price shall be readjusted immediately after the expiry of any relevant exchange,
conversion or exercise right to the Exercise Price which would then be in effect if the fair market value had been determined
on the basis of the number of Common Shares actually issued and remaining issuable immediately after such expiry and shall be
further readjusted in such manner upon the expiry of any further such right.

 

		(c)	If
                                         at any time during the Adjustment Period the Corporation shall fix a record date for
                                         the issue or distribution to the holders of all or substantially all of the outstanding
                                         Common Shares of:

 

		(i)	shares
                                         of the Corporation of any class other than Common Shares;

 

		(ii)	rights,
                                         options or warrants to acquire Common Shares or securities exchangeable for or convertible
                                         into Common Shares (other than rights, options or warrants pursuant to which holders
                                         of Common Shares are entitled, during a period expiring not more than forty-five (45)
                                         days after the record date for such issue, to subscribe for or purchase Common Shares
                                         or securities exchangeable for or convertible into Common Shares at a price per share
                                         (or in the case of securities exchangeable for or convertible into Common Shares at an
                                         exchange or conversion price per share on the record date for the issue of such securities)
                                         of at least 95% of the Current Market Price on such record date);

 

		(iii)	evidences
                                         of indebtedness of the Corporation (for greater certainty, excluding a cash dividend
                                         in the ordinary course); or

 

		(iv)	any
                                         property or assets of the Corporation;

 

    	 		 

    	 	-6-	 

    

 

		(v)	and
                                         if such issue or distribution does not constitute a Common Share Reorganization or a
                                         Rights Offering (any of such non-excluded events being herein called a “Special
                                         Distribution”), the Exercise Price shall be adjusted effective immediately
                                         after the record date for the Special Distribution to the amount determined by multiplying
                                         the Exercise Price in effect on the record date for the Special Distribution by a fraction:

 

		(A)	the
                                         numerator of which shall be the difference between

 

		(1)	the
                                         product of the number of Common Shares outstanding on such record date and the Current
                                         Market Price on such record date, and

 

		(2)	the
                                         fair value, as determined by the directors of the Corporation, to the holders of Common
                                         Shares of the shares, rights, options, warrants, evidences of indebtedness or property
                                         or assets to be issued or distributed in the Special Distribution, and

 

		(B)	the
                                         denominator of which shall be the product obtained by multiplying the number of Common
                                         Shares outstanding on such record date by the Current Market Price on such record date.

 

Any
Common Shares owned by or held for the account of the Corporation shall be deemed not to be outstanding for the purpose of such
calculation. To the extent that any adjustment in the Exercise Price occurs pursuant to this clause 5(2)(c) as a result of the
fixing by the Corporation of a record date for the issue or distribution of rights, options or warrants to acquire Common Shares
or securities exchangeable for or convertible into Common Shares referred to in this clause 5(2)(c), the Exercise Price shall
be readjusted immediately after the expiry of any relevant exercise, exchange or conversion right to the amount which would then
be in effect based upon the number of Common Shares issued and remaining issuable after such expiry and shall be further readjusted
in such manner upon the expiry of any further such right.

 

		(d)	If
                                         at any time during the Adjustment Period there shall occur:

 

		(i)	a
                                         reclassification or redesignation of the Common Shares, a change of the Common Shares
                                         into other shares or securities or any other capital reorganization involving the Common
                                         Shares other than a Common Share Reorganization;

 

		(ii)	a
                                         consolidation, amalgamation or merger of the Corporation with or into another body corporate
                                         which results in a reclassification or redesignation of the Common Shares or a change
                                         of the Common Shares into other shares or securities;

 

		(iii)	the
                                         transfer of the undertaking or assets of the Corporation as an entirety or substantially
                                         as an entirety to another corporation or entity;

 

    	 		 

    	 	-7-	 

    

 

(any
of such events being called a “Capital Reorganization”), after the effective date of the Capital Reorganization
the Warrantholder shall be entitled to receive, and shall accept, for the same aggregate consideration, upon exercise of the Warrants,
in lieu of the number of Common Shares to which the Warrantholder was theretofor entitled upon the exercise of the Warrants, the
kind and aggregate number of shares and other securities or property resulting from the Capital Reorganization which the Warrantholder
would have been entitled to receive as a result of the Capital Reorganization if, on the effective date thereof, the Warrantholder
had been the registered holder of the number of Common Shares which the Warrantholders was theretofore entitled to purchase or
receive upon the exercise of the Warrants. If necessary, as a result of any such Capital Reorganization, appropriate adjustments
shall be made in the application of the provisions of this Warrant Certificate with respect to the rights and interests thereafter
of the Warrantholder to the end that the provisions shall thereafter correspondingly be made applicable as nearly as may reasonably
be possible in relation to any shares or other securities or property thereafter deliverable upon the exercise of the Warrants.

 

		(e)	If
                                         at any time during the Adjustment Period any adjustment or readjustment in the Exercise
                                         Price shall occur pursuant to the provisions of clause 5(2)(a), 5(2)(b) or 5(2)(c) of
                                         this Warrant Certificate, then the number of Common Shares purchasable upon the subsequent
                                         exercise of the Warrants shall be simultaneously adjusted or readjusted, as the case
                                         may be, by multiplying the number of Common Shares purchasable upon the exercise of the
                                         Warrants immediately prior to such adjustment or readjustment by a fraction which shall
                                         be the reciprocal of the fraction used in the adjustment or readjustment of the Exercise
                                         Price.

 

	(3)	Rules:
                                         The following rules and procedures shall be applicable to adjustments made pursuant to
                                         subsection 5(2) hereof:

 

		(a)	Subject
                                         to the following clauses of this subsection 5(3), any adjustment made pursuant to subsection
                                         5(2) hereof shall be made successively whenever an event referred to therein shall occur.

 

		(b)	No
                                         adjustment in the Exercise Price shall be required unless such adjustment would result
                                         in a change of at least 1% in the then Exercise Price and no adjustment shall be made
                                         in the number of Common Shares purchasable or issuable on the exercise of the Warrants
                                         unless it would result in a change of at least one one-hundredth of a Common Share; provided,
                                         however, that any adjustments which, except for the provision of this clause 5(3)(b)
                                         would otherwise have been required to be made shall be carried forward and taken into
                                         account in any subsequent adjustment. Notwithstanding any other provision of subsection
                                         5(2) hereof, no adjustment of the Exercise Price shall be made which would result in
                                         an increase in the Exercise Price or a decrease in the number of Common Shares issuable
                                         upon the exercise of the Warrants (except in respect of the Common Share Reorganization
                                         described in subclause 5(2)(a)(iv) hereof or a Capital Reorganization described in subclause
                                         5(2)(d)(ii) hereof).

 

		(c)	Subject
                                         to the prior written consent of the TSX Venture Exchange, No adjustment in the Exercise
                                         Price or in the number or kind of securities purchasable upon the exercise of the Warrants
                                         shall be made in respect of any event described in section 5 hereof if the Warrantholder
                                         is entitled to participate in such event on the same terms mutatis mutandis as
                                         if the Warrantholder had exercised the Warrants prior to or on the record date or effective
                                         date, as the case may be, of such event.

 

		(d)	No
                                         adjustment in the Exercise Price or in the number of Common Shares purchasable upon the
                                         exercise of the Warrants shall be made pursuant to subsection 5(2) hereof in respect
                                         of the issue from time to time of Common Shares pursuant to this Warrant Certificate
                                         or pursuant to any stock option, stock purchase or stock bonus plan in effect from time
                                         to time for directors, officers or employees of the Corporation and/or any subsidiary
                                         of the Corporation and any such issue, and any grant of options in connection therewith,
                                         shall be deemed not to be a Common Share Reorganization, a Rights Offering nor any other
                                         event described in subsection 5(2) hereof.

 

    	 		 

    	 	-8-	 

    

 

		(e)	If
                                         the Corporation takes any action affecting the Common Shares to which the foregoing provisions
                                         of this section 5(2), in the opinion of the board of directors of the Corporation, acting
                                         in good faith, are not strictly applicable, or if strictly applicable would not fairly
                                         adjust the rights of the Warrantholder against dilution in accordance with the intent
                                         and purposes hereof, or would otherwise materially affect the rights of the Warrantholder
                                         hereunder, then the Corporation shall, subject to the approval of the TSX Venture Exchange
                                         (or such other stock exchange or quotation system on which the Common Shares are then
                                         listed and posted (or quoted) for trading, as applicable), execute and deliver to the
                                         Warrantholder an amendment hereto providing for an adjustment in the application of such
                                         provisions so as to adjust such rights as aforesaid in such manner as the board of directors
                                         of the Corporation may determine to be equitable in the circumstances, acting in good
                                         faith. The failure of the taking of action by the board of directors of the Corporation
                                         to so provide for any adjustment on or prior to the effective date of any action or occurrence
                                         giving rise to such state of facts will be conclusive evidence that the board of directors
                                         has determined that it is equitable to make no adjustment in the circumstances.

 

		(f)	If
                                         the Corporation shall set a record date to determine holders of Common Shares for the
                                         purpose of entitling such holders to receive any dividend or distribution or any subscription
                                         or purchase rights and shall, thereafter and before the distribution to such holders
                                         of any such dividend, distribution or subscription or purchase rights, legally abandon
                                         its plan to pay or deliver such dividend, distribution or subscription or purchase rights,
                                         then no adjustment in the Exercise Price or the number of Common Shares purchasable upon
                                         exercise of the Warrant shall be required by reason of the setting of such record date.

 

		(g)	In
                                         any case in which this Warrant Certificate shall require that an adjustment shall become
                                         effective immediately after a record date for an event referred to in subsection 5(2)
                                         hereof, the Corporation may defer, until the occurrence of such event:

 

		(i)	issuing
                                         to the Warrantholder, to the extent that the Warrants are exercised after such record
                                         date and before the occurrence of such event, the additional Common Shares or other securities
                                         issuable upon such exercise by reason of the adjustment required by such event; and

 

		(ii)	delivering
                                         to the Warrantholder any distribution declared with respect to such additional Common
                                         Shares or other securities after such record date and before such event;

 

provided,
however, that the Corporation shall deliver to the Warrantholder an appropriate instrument evidencing the right of the Warrantholder
upon the occurrence of the event requiring the adjustment, to an adjustment in the Exercise Price or the number of Common Shares
purchasable upon the exercise of the Warrants and to such distribution declared with respect to any such additional Common Shares
issuable on the exercise of the Warrants.

 

    	 		 

    	 	-9-	 

    

 

		(h)	In
                                         the absence of a resolution of the directors fixing a record date for a Rights Offering,
                                         the Corporation shall be deemed to have fixed as the record date therefor the date of
                                         the issue of the rights, options or warrants issued pursuant to the Rights Offering.

 

		(i)	The
                                         Corporation will maintain a register of holders of Warrants at its principal office.
                                         The Corporation may deem and treat the registered holder of any Warrant Certificate as
                                         the absolute owner of the Warrants represented thereby for all purposes, and the Corporation
                                         shall not be affected by any notice or knowledge to the contrary except where the Corporation
                                         is required to take notice by statute or by order of a court of competent jurisdiction.
                                         A Warrantholder shall be entitled to the rights evidenced by such Warrant free from all
                                         equities or rights of set-off or counterclaim between the Corporation and the original
                                         or any intermediate holder thereof and all persons may act accordingly and the receipt
                                         by any such Warrantholder of the Common Shares purchasable pursuant to such Warrant shall
                                         be a good discharge to the Corporation for the same and the Corporation shall not be
                                         bound to inquire into the title of any such Warrantholder except where the Corporation
                                         is required to take notice by statute or by order of a court of competent jurisdiction.

 

The
registered holders of Warrants shall have the power from time to time by an extraordinary resolution (as hereinafter defined):

 

		(i)	to
                                         sanction any modification, abrogation, alteration or compromise of the rights of the
                                         registered holders of Warrants against the Corporation which shall be agreed to by the
                                         Corporation; and/or

 

		(ii)	to
                                         assent to any modification of or change in or omission from the provisions contained
                                         herein or in any instrument ancillary or supplemental hereto which shall be agreed to
                                         by the Corporation; and/or

 

		(iii)	to
                                         restrain any registered holder of a Warrant from taking or instituting any suit or proceedings
                                         against the Corporation for the enforcement of any of the covenants on the part of the
                                         Corporation conferred upon the registered holders of Warrants by the terms of the Warrants.

 

Any
such extraordinary resolution as aforesaid shall be binding upon all the registered holders of Warrants whether or not assenting
in writing to any such extraordinary resolution, and each registered holder of any of the Warrants shall be bound to give effect
thereto accordingly. Such extraordinary resolution shall, where applicable, be binding on the Corporation which shall give effect
thereto accordingly.

 

The
Corporation shall forthwith upon receipt of an extraordinary resolution provide notice to all registered holders of Warrants of
the date and text of such resolution. The registered holders of Warrants assenting to an extraordinary resolution agree to provide
the Corporation forthwith with a copy of any extraordinary resolution passed.

 

The
expression “extraordinary resolution” when used herein shall mean a resolution assented to in writing, in one or more
counterparts, by the registered holders of Warrants calling in the aggregate for not less than seventy-five per cent (75%) of
the aggregate number of Common Shares called for by all of the Warrants which are, at the applicable time, outstanding.

 

    	 		 

    	 	-10-	 

    

 

		(j)	If
                                         a dispute shall at any time arise with respect to adjustments of the Exercise Price or
                                         the number of Common Shares or other securities purchasable upon the exercise of the
                                         Warrants, such disputes shall be conclusively determined by the auditors of the Corporation
                                         or if they are unable or unwilling to act, by such other firm of independent chartered
                                         accountants as may be selected by the directors and any such determination shall be conclusive
                                         evidence of the correctness of any adjustment made pursuant to subsection 5(2) hereof
                                         and shall be binding upon the Corporation and the Warrantholder.

 

		(k)	As
                                         a condition precedent to the taking of any action which would require an adjustment pursuant
                                         to subsection 5(2) hereof, including the Exercise Price and the number or class of Common
                                         Shares or other securities which are to be received upon the exercise thereof, the Corporation
                                         shall take any action which may, in the opinion of counsel to the Corporation, be necessary
                                         in order that the Corporation may validly and legally issue as fully paid and non-assessable
                                         shares all of the Common Shares or other securities which the Warrantholder is entitled
                                         to receive in accordance with the provisions of this Warrant Certificate.

 

	(4)	Notice:
                                         Within five (5) days of the effective date of any event that requires an adjustment in
                                         any of the rights of the Warrantholder under this Warrant Certificate, including the
                                         Exercise Price or the number of Common Shares that may be purchased under this Warrant
                                         Certificate, the Corporation shall deliver to the Warrantholder written notice specifying
                                         the particulars of such event and, if determinable, the required adjustment and the calculation
                                         of such adjustment. In case any adjustment for which a notice in this subsection 5(4)
                                         has been given is not then determinable, the Corporation shall promptly after such adjustment
                                         is determinable deliver to the Warrantholder written notice providing the calculation
                                         of such adjustment. The Corporation hereby covenants and agrees that the register of
                                         transfers and share transfer books for the Common Shares and Warrants will be open, and
                                         that the Corporation will not take any action which might deprive the Warrantholder of
                                         the opportunity of exercising the rights of subscription contained in this Warrant Certificate,
                                         during such five (5) day period.

 

	6.	Further
                                         Assurances: The Corporation hereby covenants and agrees that it will do, execute,
                                         acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, all
                                         and every such other act, deed and assurance as the Warrantholder shall reasonably require
                                         for the better accomplishing and effectuating of the intentions and provisions of this
                                         Warrant Certificate.

 

	7.	Time
                                         of Essence: Time shall be of the essence of this Warrant Certificate.

 

	8.	Governing
                                         Laws: This Warrant Certificate shall be construed in accordance with the laws
                                         of the Province of British Columbia and the federal laws of Canada applicable therein.

 

	9.	Notices:
                                         All notices or other communications to be given under this Warrant Certificate shall
                                         be delivered by hand or by email and, if delivered by hand, shall be deemed to have been
                                         given on the delivery date and, if sent by email, on the date of transmission if sent
                                         before 5:00 p.m. on a business day or, if such day is not a business day, on the first
                                         business day following the date of transmission.

 

Notices
to the Corporation shall be addressed to:

 

BriaCell Therapeutics Corp.

235 15th Street, Suite 300

West Vancouver, British Columbia V7T 2X1

 

    	 		 

    	 	-11-	 

    

 

	 	Attention:	Dr. William V. Williams
	 	Email:	williams@briacell.com

 

Notices
to the Warrantholder shall be addressed to the address of the Warrantholder set out on the face page of this Warrant Certificate.

 

The
Corporation and the Warrantholder may change its address for service by notice in writing to the other of them specifying its
new address for service under this Warrant Certificate.

 

	10.	Legends
                                         on Common Shares: Any certificate representing Common Shares issued upon the
                                         exercise of the Warrants prior to the date which is four months and one (1) day after
                                         the date hereof will bear the following legends:

 

“UNLESS
PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT TRADE THE SECURITY BEFORE JULY 17, 2018.”

 

and,
if issued prior to the date which is four months and one day after the date hereof, may also bear the following legend:

 

“WITHOUT
PRIOR WRITTEN APPROVAL OF TSX VENTURE EXCHANGE AND COMPLIANCE WITH ALL APPLICABLE SECURITIES LEGISLATION, THE SECURITIES REPRESENTED
BY THIS CERTIFICATE MAY NOT BE SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE TRADED ON OR THROUGH THE FACILITIES OF TSX VENTURE
EXCHANGE OR OTHERWISE IN CANADA OR TO OR FOR THE BENEFIT OF A CANADIAN RESIDENT UNTIL JULY 17, 2018.”;

 

provided
that at any time subsequent to the date which is four months and one day after the date hereof any certificate representing such
Common Shares may be exchanged for a certificate bearing no such legends. The Corporation shall use the best efforts thereof to
cause the registrar and transfer agent to deliver the certificate representing such Common Shares within three (3) business days
after receipt of the legended certificate or certificates.

 

	11.	Lost
                                         Certificate: If this Warrant Certificate or any replacement hereof becomes stolen,
                                         lost, mutilated or destroyed, the Corporation shall, on such terms as it may in its discretion
                                         impose, acting reasonably, issue and deliver a new certificate, in form identical hereto
                                         but with appropriate changes, representing any unexercised portion of the subscription
                                         rights represented hereby to replace the certificate so stolen, lost, mutilated or destroyed.

 

	12.	Language:
                                         The parties hereto acknowledge and confirm that they have requested that this Warrant
                                         Certificate as well as all notices and other documents contemplated hereby be drawn up
                                         in the English language. Les parties aux présentes reconnaissent et confirment
                                         qu’elles ont exigé que la présente convention ainsi que tous les
                                         avis et documents qui s’y rattachent soient rédigés en langue anglaise.

 

	13.	Transfer:
                                         The Warrants are transferable and the term “Warrantholder” shall mean
                                         and include any successor, transferee or assignee of the current or any future Warrantholder.
                                         The Warrants may by transferred by the Warrantholder completing and delivering to the
                                         Corporation the transfer form attached hereto as Schedule B.

 

	14.	Ranking:
                                         All Warrants shall rank pari passu, whatever may be the actual date of issue
                                         of the same.

 

	15.	Successors
                                         and Assigns: This Warrant Certificate shall enure to the benefit of the Warrantholder
                                         and the successors thereof and shall be binding upon the Corporation and the successors
                                         and assignees thereof.

 

    	 		 

    	 

    

 

IN
WITNESS WHEREOF the Corporation has caused this Warrant Certificate to be signed by an authorized officer as of the _____ day
of _______________, 2018.

 

	 	BRIACELL
    THERAPEUTICS CORP.
	 	 	 
	 	By:	 
	 	Name:	Dr.
William V. Williams

        

	 	Title:	Chief Executive Officer

 

    	 		 

    	 

    

 

Schedule
A

 

SUBSCRIPTION
FORM

 

	TO:	BRIACELL
                                         THERAPEUTICS CORP.

                                         235  15th Street, Suite 300

                                         West Vancouver, British Columbia V7T 2X1

 

The
undersigned hereby:

 

	1.	Subscribes
                                         for _______________ common shares (“Common Shares”) of BriaCell Therapeutics
                                         Corp. (the “Corporation”) or such other number of Common Shares or
                                         other securities to which such subscription entitles the undersigned in lieu thereof
                                         or in addition thereto pursuant to the provisions of the finder warrant certificate (the
                                         “Finder Warrant Certificate”) dated the 16 day of March, 2018, issued
                                         by the Corporation at the purchase price of $0.14 per Common Share exercisable at any
                                         time up to 5:00 p.m. (Toronto time) on March 16, 2021 (or at such other purchase price
                                         as may be in effect under the provisions of the Warrant Certificate) and on and subject
                                         to the other terms and conditions specified in the Finder Warrant Certificate and encloses
                                         herewith a certified cheque, bank draft or money order in lawful money of Canada payable
                                         to the Corporation or has transmitted same day funds in lawful money of Canada by wire
                                         to such account as the Corporation directed the undersigned in payment of the subscription
                                         price.

 

By
executing this subscription form the undersigned represents and warrants that the undersigned is not a U.S. person or a person
within the United States and that the Common Shares are not being subscribed for on behalf of a U.S. Person (as such terms are
defined for purposes of the United States Securities Act of 1933, as amended).

 

The
undersigned hereby directs that the Common Shares subscribed for be registered and delivered as follows:

 

	Name
    in Full	 	Address	 	Number
    of Common Shares
	 	 	 	 	 
	 	 	 	 	 

 

DATED
this _____ day of _______________, 20_____.

 

	 	[●]
	 	 	 
	 	By:	 

 

Instructions:

 

	1.	If
                                         the Subscription Form indicates that Common Shares are to be issued to a person or persons
                                         other than the registered holder of the Warrant Certificate, the signature of such holder
                                         of the Subscription Form must be guaranteed by a Canadian chartered bank or trust company,
                                         or a member of an acceptable medallion guarantee program. The Guarantor must affix a
                                         stamp bearing the actual words: “signature guaranteed”.

 

	2.	If
                                         the Subscription Form is signed by a trustee, executor, administrator, curator, guardian,
                                         attorney, officer of a corporation or any person acting in a fiduciary or representative
                                         capacity, the Certificate must be accompanied by evidence of authority to sign satisfactory
                                         to the Corporation.

 

    	 	A-1	 

    	 	 	 

    

 

Schedule
B

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

_______________________________________________________________________________________________ 

(include name and address of the transferee) Warrants
exercisable for common shares of BriaCell Therapeutics Corp. (the “Corporation”) registered in the name of
the undersigned on the register of the Corporation maintained therefor, and hereby irrevocably appoints _________________________________________
the attorney of the undersigned to transfer the said securities on the books maintained by the Corporation with full power of
substitution.

 

DATED
this _____ day of _______________, 20_____.

 

	Signature
    of Transferor guaranteed by:	 	 
	 	 	 
	 	 	 
	Name of Bank or
    Trust Company:	 	Signature of Transferor
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	Address of Transferor

 

Notes:

 

	1.	The
                                         signature to this Transfer must correspond with the name written upon the face of this
                                         Warrant Certificate in every particular without any changes whatsoever.

 

	2.	If
                                         the Transfer Form indicates that common shares are to be issued to a person or persons
                                         other than the registered holder of the Warrant Certificate, the signature on this Transfer
                                         Form must be guaranteed by a Schedule I chartered bank or licensed trust company, or
                                         a member of an acceptable medallion guarantee program. The Guarantor must affix a stamp
                                         bearing the actual words “signature guaranteed”. Signature guarantees are
                                         not accepted from treasury branches or credit unions unless they are members of the stamp
                                         medallion program.

 

    	 	B-1

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