Document:

Exhibit 10.6

 

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. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY
MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT WITH A REGISTERED BROKER-DEALER OR OTHER LOAN WITH A FINANCIAL INSTITUTION
THAT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a) UNDER THE SECURITIES ACT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

COMMON STOCK PURCHASE WARRANT

 

MDNA
LIFE SCIENCES, INC.

 

	Warrant Shares: 	Initial Exercise Date:  __, 2021

 

THIS COMMON STOCK PURCHASE
WARRANT (the “Warrant”) certifies that, for value received, [HOLDER], 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 5;00 p.m., New York City Time, on
the Termination Date (as defined herein) but not thereafter, to subscribe for and purchase from MDNA Life Sciences, Inc., a Delaware
corporation (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 1(b).

 

This Warrant is being
issued pursuant to that certain Securities Purchase Agreement dated as of September 30, 2021 between the Holder and the Company
(the “Securities Purchase Agreement”). In addition to the terms defined elsewhere in this Warrant, capitalized
terms that are not otherwise defined herein have the meanings given to such terms in the Securities Purchase Agreement.

 

1.             Exercise.

 

(a)           Exercise
of Warrant. 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 (or e-mail attachment) of the Notice of Exercise in the form annexed
hereto and within five (5) Business Days of the date said Notice of Exercise is delivered to the Company, the Company shall have
received payment of the aggregate Exercise Price of the shares thereby purchased by wire transfer or cashier’s check drawn
on a United States bank or, if available, pursuant to the cashless exercise procedure specified in Section 1(f) below. No ink-original
Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice
of Exercise form be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender
this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been
exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within five (5) Business
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 within one (1) Business Day of receipt 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 “Exercise Price” shall equal, per share of Common Stock under this Warrant, subject to adjustment
as provided hereunder, $1.10.

 

(c)           The
Termination Date. The “Termination Date” as used in this Warrant, shall mean the date that is five years
from the Warrant Reference Date. “Warrant Reference Date” shall mean the first date following the Initial Exercise
Date (i) when there is an effective registration statement to cover the resale of the Warrant Shares, (ii) when the Warrant Shares
may be sold under Rule 144 and the Company is then in compliance with the current public information required under Rule 144, or
(ii) when the Warrant Shares may be sold under Rule 144 without the requirement for the Company to be in compliance with the current
public information required under Rule 144 as to the Warrant Shares and without volume or manner-of-sale restrictions.

 

(d)           Mechanics
of Exercise.

 

i.       Delivery
of Warrant Shares Upon Exercise. Warrant Shares purchased hereunder shall be transmitted by the Company’s transfer agent
(the “Transfer Agent”) to the Holder by crediting the account of the Holder’s or its designee’s
balance account 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) the Warrant Shares are eligible for resale
by the Holder without volume or manner-of-sale limitations pursuant to Rule 144, and otherwise by physical delivery of a certificate,
registered in the Company’s share register in the name of the Holder or its designee, for the number of Warrant Shares to
which the Holder is entitled pursuant to such exercise to the address specified by the Holder in the Notice of Exercise by the
date that is five (5) Business Days after the delivery to the Company of the Notice of Exercise (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 (including by cashless exercise) and all taxes required to
be paid by the Holder, if any, pursuant to Section 1(d)(vi) prior to the issuance of such shares, having been paid.

 

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, at the time of delivery of the 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.

 

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iii.       Rescission
Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to Section 1(d)(i)
by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

iv.       No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which 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 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 Warrant Shares, all of which taxes and expenses shall be paid by the Company,
and such Warrant Shares 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 that 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 and all fees to the Depository
Trust Company (or another established clearing corporation performing similar functions) required for same-day electronic delivery
of the Warrant Shares.

 

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.

 

(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 1(e), beneficial ownership shall be calculated in accordance with Section
13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company
is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder
is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained
in this Section 1(e) applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by
the Holder together with any Affiliates) and of which portion of this Warrant is exercisable shall be in the sole discretion of
the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this Warrant
is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and of which portion of this
Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to
verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above
shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.
For purposes of this Section 1(e), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number
of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with
the Commission, as the case may be, if any, (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 two Business 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 4.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares
of Common Stock issuable upon exercise of this Warrant. The Holder, upon notice to the Company, may increase or decrease 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 1(e) shall continue to apply. Any increase
in the Beneficial Ownership Limitation 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 1(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.

 

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(f)           Cashless
Exercise. If within six months of the Initial Exercise Date, there is no registration statement effective and available for
use by the Holder to resell the Warrant Shares, this Warrant may also be exercised, in whole or in part, at such time by means
of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the 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.

 

As used herein, “Trading Day”
means a day on which the principal Trading Market is open for trading. As used herein, “Trading Market” means
any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the
NYSE MKT, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange, the
OTCQB, the OTC Bulletin Board or the OTC Pink (or any successors to any of the foregoing). As used herein “VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed
or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading
Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), or (b) in all other cases, the fair market value of
a share of Common Stock as determined by an independent appraiser selected in good faith by the Company, the fees and expenses
of which shall be paid by the Company.

 

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2.             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), (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 2(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 reclassification.

 

(b)           Convertible
Security Exercise Price Reset. If prior to the Warrant Reference Date, the conversion price (the “Applicable Price”)
under any Convertible Security of the Company outstanding as of the Initial Exercise Date is less than a price equal to the Exercise
Price then (1) the Exercise Price then in effect shall be reduced to an amount equal to the Applicable Price and (2) 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 (subject
to adjustment as provided herein). “Convertible Securities” means any shares or other security (other than Options)
that is at any time and under any circumstances, directly or indirectly, convertible into, exercisable or exchangeable for, or
which otherwise entitles the holder thereof to acquire, any shares of Common Stock. “Option” means any rights,
warrants or options to subscribe for or purchase shares of Common Stock or Convertible Securities.

 

(c)           Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 2(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).

 

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(d)           Pro
Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other
distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital
or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of
a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”),
at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution
to the same extent that the Holder would have participated therein 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 of which a record is taken for such Distribution, 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 participation in
such Distribution (provided, however, to the extent that the Holder’s right to participate in any such Distribution
would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate
in such Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution
to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if
ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

(e)           Fundamental
Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related
transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly,
effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets
in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether
by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange
their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common
Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization
or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted
into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions
consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization,
recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons whereby such other Person or group
acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person
or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share
purchase agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent
exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon
such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard
to any limitation in Section 1(e) on the exercise of this Warrant), the number of shares of Common Stock of the successor or acquiring
corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”)
receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant
is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in Section 1(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 share of Common
Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in
a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common
Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder
shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental
Transaction. The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor
(the “Successor Entity”) to assume in writing all of the obligations of the Company under this Warrant and the
other Transaction Documents in accordance with the provisions of this Section 3(e) pursuant to written agreements in form and substance
reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction
and shall, at the option of the Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced
by a written instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number
of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the shares of Common Stock acquirable
and receivable upon exercise of this Warrant (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 shares of Common Stock pursuant to such Fundamental Transaction and the value
of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose of protecting
the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which is reasonably
satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity
shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this
Warrant and the other Transaction Documents referring to the “Company” shall refer instead to the Successor Entity),
and may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant
and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein.

 

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(f)           Calculations.
All calculations under this Section 2 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 2, 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.

 

(g)           Notice
to Holder.

 

i.       Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 2, 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.

 

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, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation
or winding up of the affairs of the Company, then, in each case, the Company shall cause to be mailed to the Holder at its last
address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or
effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend,
distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common
Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the
date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or
close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares
of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale,
transfer or share exchange; provided that the failure to mail such notice or any defect therein or in the mailing thereof shall
not affect the validity of the corporate action required to be specified in such notice. The Holder 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.

 

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3.             Transfer
of Warrant.

 

(a)           Transferability.
Subject to compliance with any applicable securities laws and the conditions set forth in Section 3(d) hereof, this Warrant and
all rights hereunder 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. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant
to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant to the
Company within three (3) Business Days of the date the Holder delivers an assignment form to the Company assigning this Warrant
full. 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 3(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 original
Issue Date and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

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

 

(d)           Transfer
Restrictions. If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant, the transfer
of this Warrant shall not be either (i) registered pursuant to an effective registration statement under the Securities Act and
under applicable state securities or blue sky laws or (ii) eligible for resale without volume or manner-of-sale restrictions or
current public information requirements pursuant to Rule 144, the Company may require, as a condition of allowing such transfer,
that the Holder or transferee of this Warrant, as the case may be, comply with the provisions of Section 4.1 of the Securities
Purchase Agreement.

 

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

 

    	 	 8	 

     

    

 

4.             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 1(d)(i), except as expressly set forth in
Section 2.

 

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

 

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

 

(d)           Authorized
Shares.

 

i.       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 issuing the necessary 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. 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 nonassessable
and free from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect
of any transfer occurring contemporaneously with such issue).

 

ii.       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.

 

    	 	 9	 

     

    

 

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

 

(e)           Jurisdiction.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance
with the laws of the State of New York as they are applied to contracts executed, delivered and to be wholly performed within the
State of New York.

 

(f)           Reserved.

 

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

 

(h)           Notices.
Any notice, request or other document required or permitted to be given or delivered to the either party to the other shall be
delivered in by recognized overnight courier, facsimile or email as follows:

 

If to the Holder:

 

[Holder]

[Address]

Attn:

Email:

 

If to the Company:

 

MDNA Life Sciences, Inc.

2054 Vista Parkway,

Suite 400

West Palm Beach, FL 33411

Attention: Christopher Mitton

 

(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)           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.

 

    	 	 10	 

     

    

 

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

 

(l)           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.

 

(m)           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 to Follow.]

 

    	 	 11	 

     

    

 

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.

 

	 	MDNA LIFE SCIENCES, INC.	 
	 	 	 
	 	By:	 	 
	 	 	Name:  Christopher Mitton	 
	 	 	Title:    Chief Executive Officer	 

 

    	 	 	 

     

    

 

EXHIBIT A

 

NOTICE OF EXERCISE

 

TO: MDNA LIFE SCIENCES,
INC.

 

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

 

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

 

[ ] in lawful money
of the United States; or

 

[ ] the cancellation of such
number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 1(f), to exercise this Warrant
with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in subsection
1(f).

 

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

 

	 	 

 

The Warrant Shares shall be delivered to
the following DWAC Account Number:

 

	 	 
	 	 
	 	 

 

(4)            Accredited
Investor. The undersigned is an “accredited investor” as defined in Regulation D promulgated under the Securities
Act of 1933, as amended.

 

	[SIGNATURE OF HOLDER]	 
	 	 
	 	 
	Name of Investing Entity:	 
	 	 
	 	 
	Signature of Authorized Signatory of Investing Entity:	 
	 	 
	 	 
	Name of Authorized Signatory	 
	 	 
	 	 
	Title of Authorized Signatory	 
	 	 
	 	 
	Date	 

 

    	 	 	 

     

    

 

EXHIBIT B

 

ASSIGNMENT FORM

 

(To assign the foregoing Warrant, execute
this form and supply required information. Do not use this form to purchase shares.)

 

FOR VALUE RECEIVED, the foregoing Warrant
and all rights evidenced thereby are hereby assigned to

 

	Name:	 
	 	(Please Print)
	 	 
	Address:	 
	 	(Please Print)
	Dated: _______________ __, ______	 

 

	Holder’s Signature:	 	 	 
	 	 	 	 
	Holder’s Address:Exhibit 10.7

 

THIS NOTE, AND
UNDERLYING COMMON STOCK INTO WHICH IT IS CONVERTIBLE, HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE
“SECURITIES ACT”), PURSUANT TO AN EXEMPTION FROM SUCH REGISTRATION PROVIDED BY SECTION 4(a)(2) OF THE SECURITIES
ACT, OR THE SECURITIES LAWS OF ANY STATE. NEITHER THIS NOTE NOR THE UNDERLYING COMMON STOCK CAN BE RESOLD UNLESS (A)
SUBSEQUENTLY REGISTERED UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS, OR (B) EXEMPTIONS FROM SUCH
REGISTRATIONS ARE AVAILABLE. 

 

MDNA LIFE SCIENCES, INC. 

10% SECURED CONVERTIBLE NOTE 

DUE NOVEMBER 17, 2021

 

	Date: 12th October 2020	West Palm Beach, Florida

 

Obligation. For value
received and intending to be legally bound, MDNA Life Sciences, Inc., a Delaware corporation (“Maker”), hereby promises
to pay on or before the Due Date (as defined below) to the order of James Graham Turner (including his or its heirs, successors
assigns and permitted transferees, collectively, the “Payee” or the “Holder”) the principal sum of $10,000
(the “Principal”), lawful money of the United States of America together with interest thereon in the amount of
ten percent simple interest (the “Interest” and the “Rate”) on the terms and conditions stated in this
Note. This Note is one in a series of Notes issued by the Maker with the same terms and conditions, up to an aggregate principal
amount of $2,000,000. The Principal added to the accrued but unpaid interest (including Default Interest, defined below), fees
and penalties (if any) is referred to in this Note as the “Amount Due.” By signing this Note, the Maker acknowledges
that proceeds of this Note are to be used for business purposes only.

 

The payments
under this Note shall be made in funds immediately available to Payee at such location as Payee shall designate. In the event the
due date of any payment under this Note is a Saturday, Sunday or legal holiday in the State of Florida (a “Business Day”),
such payment shall be due on the next succeeding date which is not a Saturday, Sunday or such legal holiday, provided that the
principal sum shall continue to accrue Interest until paid.

 

Interest at
the Rate shall accrue beginning the date the Payee purchases this Note. If Maker does not pay Interest or Principal when due, Interest
will accrue at the rate of 18% per annum (the “Default Rate”) until such payment default is cured. Interest payable
at the Default Rate shall be known as “Default Interest” under this Note.

 

The Amount Due is due and payable on November 17,
2021 (the “Due Date”).

 

		1.	Conversion Rights. 

 

(a)
       The Payee, in Payee’s
sole and absolute discretion, at any time or from time to time, may elect to convert some or all of the Amount Due into common
stock of the Maker (the “Conversion Shares”) at the Conversion Ratio, as defined below, by sending a conversion notice
to the Maker (a “Conversion Notice”) in the form attached as Exhibit A, stating the amount of Amount Due to be converted
(the “Conversion Amount”). Payee’s delivery of the Conversion Notice by facsimile or electronic mail addressed
to the Maker’s president shall constitute good delivery of such Conversion Notice.

 

    	 	 1	 

     

    

 

(b)
       From the date of issuance to
maturity, Conversion Ratio will be 2,500 Conversion Shares for each $1,000 in Conversion Amount. The Conversion Ratio shall be
proportionally adjusted for any stock splits, reverse stock splits, reorganizations, stock dividends and any other corporate action
that has a similar effect. 

 

(c)
       Mechanics of Conversion. To
exercise conversion rights under this, the Holder must send a completed and executed Conversion Notice to Maker. If Maker receives
the Conversion Notice by 3:00 PM (all times are Eastern Time) on a Business Day, it shall be considered received that day; if received
after 3:00 PM, it shall be considered received the following Business Day (in either case, the “Conversion Date”).
As soon as practicable thereafter, the Holder must send the original of this Note to Maker. On or before the third (3rd) Business
Day following the Conversion Date, the Maker shall issue and deliver to the address (or electronic account) specified in the Conversion
Notice, a certificate, registered in the name of the Holder (or, if the Holder directs, to Beneficial Owner), for the number of
Conversion Shares to which the Holder shall be entitled. In the alternative, the Holder may specify the account into which the
Maker Conversion Shares should be deposited. If the outstanding Principal of this Note is greater than the Conversion Amount, then
the Maker shall as soon as practicable and in no event later than five (5) Business Days after receipt of this Note and at its
own expense, issue and deliver to the Holder a new Note (in accordance with Section 12(d)) representing the outstanding Principal
not converted. 

 

(d)
       Maker's Failure to Timely Convert.
If the Maker fails to issue a certificate or electronically deposit the Conversion Shares within five Business Days after the Conversion
Date (a "Conversion Failure"), then the Holder, upon written notice to the Maker, may cancel the Conversion Notice and
receive a Note for its Principal amount on the Conversion Date. If the Holder purchases (in an open market transaction or otherwise)
Shares to deliver in satisfaction of a sale by the Holder of Conversion Shares issuable upon such conversion that the Holder anticipated
receiving from the Maker (a "Buy-In"), then the Maker shall, within three (3) Business Days after the Holder's request
and in the Holder's discretion, either (i) pay cash to the Holder in an amount equal to the Holder's total purchase price (including
brokerage commissions and other out of pocket expenses, if any) for the Shares so purchased (the "Buy-In Price"), at
which point the Maker's obligation to deliver such certificate (and to issue such Common Stock) shall terminate and the applicable
portion of the Note will be deemed to have been converted, or (ii) promptly honor its obligation to deliver to the Holder a certificate
or certificates representing such Shares and pay cash to the Holder in an amount equal to the excess (if any) of the Buy-In Price
over the product of (I) such number of Shares, times (Il) the Closing Bid Price on the Conversion Date. 

 

(e)
       Limitations on Conversions:
Beneficial Ownership. The Maker shall not be obligated to issue any Conversion Shares if the issuance of such Shares would exceed
the aggregate number of Shares which the Maker may issue upon conversion of the Notes under the rules or regulations of the Principal
Market or any other Eligible Market on which the Common Stock is then quoted or listed (the "Exchange Cap"). In addition,
the Maker shall not issue Conversion Shares to any 

Holder if that would cause the Holder (and
his or its “affiliates” (as construed under Federal securities laws) to beneficially own more than 9.9% of the Maker’s
outstanding Common Stock (as determined by the Federal securities laws).

 

2.
       Prepayment. The Maker
may prepay the Amount Due upon at least sixty (60) days prior written notice to Payee (“Prepayment Notice”) subject
to satisfaction of all the following conditions: (a) the Common Stock is listed or actively traded on a recognized US securities
exchange or electronic trading platform with sufficient volume to allow the Conversion Shares to be sold within thirty (30) days;
(b) the market price of the Common Stock in its principal market is at or above $2.00 per Share for at least twenty (20) consecutive
trading days; and (c) Maker has an effective registration statement under the Securities Act of 1933, as amended, registering the
Conversion Shares for resale. Payee retains its right to convert the Amount Due into Conversion Shares by sending the Maker a Conversion
Notice no later than five (5) business days before the payment date stated in the Prepayment Notice. Notwithstanding the foregoing,
the Maker may not prepay any part of the Principal unless the Maker pays all accrued but unpaid Interest in cash on or before the
effective date of any prepayment.

 

    	 	 2	 

     

    

 

3.       Acquisition.
 If the Maker (or all or substantially all its assets) is acquired (an “Acquisition Transaction”), the Maker (or
its successor in interest) may prepay this Note either for the 125% of the outstanding Amount Due, or on an “as-converted”
basis, simultaneously with the closing of the Acquisition Transaction, at the sole option of Payee. For clarity, an “as-converted
basis” shall mean that immediately before the Acquisition Transaction, the Payee will calculate the number of Conversion
Shares issuable to the Payee on the conversion of the total Amount Due and the Payee will receive the same consideration as received
by other stockholders of Maker.

 

4.
       Application of Payments.
All payments on this Note shall be applied first to accrued and unpaid Interest at the Rate, then to accrued and unpaid Default
Interest, then to all other sums due hereunder, and the balance to Principal or in such other order as Payee may elect. 

 

5.
       Late Charge. If any payment
of Interest or Administrative Fee is not made within ten days of the date such payment is due, or if the Amount Due is not paid
when due under the terms of this Note and remains unpaid ten (10) days after the Due Date, then, in either case, there shall also
be immediately due and payable a late charge at the rate of Five Percent (5%) of such delinquent payment. The amount of any such
late charge not paid promptly following demand therefor shall be deemed outstanding and payable pursuant to the Note. 

 

6.
       Collateral. The payment
of the quarterly Interest and the Amount Due on the Due Date shall be secured by a first lien on all the Maker’s assets,
pari passu with the holders of the Maker’s other senior debt, to be evidenced by a filing on form UCC-1. 

 

		7.	Default; Acceleration; Remedies. 

 

(a)
       Should there occur and exist
any Default (as defined below in Section 7 (b)), then Payee, at its option, may declare immediately due and payable the entire
unpaid balance of Principal (including accrued but unpaid Interest and Default Interest due under this Note). 

 

(b)
       As used in this Note, “Default”
shall mean the occurrence of any of the following events: 

 

(1)
       Any default in the payment when
due of Interest or the Amount Due on the Due Date, or any other sums due, under this Note, which default is not cured within ten
(10) Business Days; 

 

(2)
       Any default in the performance
of any of the provisions of this Note, which is not cured within ten (10) Business Days; 

 

(3)
       Any default in any other indebtedness
of the Maker, which default is not cured within ten (10) Business Days of the date of such default; 

 

(4)
       The Maker’s making in
writing any representation to Payee which is false or misleading in any material respect; 

 

(5)
       The appointment of a committee
of Maker’s creditors; 

 

    	 	 3	 

     

    

 

 

(6)
       The making by Maker of a general
assignment or offer of settlement for the benefit of creditors; 

 

(7)
       The voluntary or involuntary
application for, or appointment of, a receiver, custodian, guardian, trustee, or other personal representative for Maker or its
property; 

 

(8)
       The filing of a voluntary or
involuntary (to the extent not dismissed within 30 days) petition under any of the provisions of the Federal Bankruptcy Code or
any similar state statute; 

 

(9)
       The occurrence of any other
act of insolvency (however expressed or indicated); 

 

(10)       The
issuance of a warrant of attachment or for distraint, or the notice of tax lien against Maker’s assets; 

 

(11)       An
entry of judgments against Maker or its assets; 

  

(12)       The
failure to pay, withhold, collect or remit any taxes or tax deficiency when assessed or due, unless such taxes are being diligently
contested in good faith by appropriate proceedings; or 

 

(13)       The
general failure of Maker to pay its debts and obligations as the same become due and payable. 

 

		8.	Remedies Cumulative, Etc. 

 

(a)
       The remedies of Payee provided
in this Note shall be cumulative and concurrent, may be pursued singly, successively, or together at the sole discretion of Payee,
and may be exercised as often as occasion therefor shall occur; and the failure to exercise any such right or remedy shall in no
event be construed as a waiver or release thereof. 

 

(b)
       The recovery of any judgment
by Payee shall not affect in any manner or to any extent any rights, remedies or powers of Payee under this Note, but such rights,
remedies and powers of Payee shall continue unimpaired as before. The exercise by Payee of its rights and remedies and the entry
of any judgment by Payee shall not adversely affect in any way the interest rate payable hereunder on any amounts due to Payee
but interest shall continue to accrue on such amounts at the rates specified herein. 

 

(c)
       Maker agrees that any action
or proceeding against it to enforce this Note may be commenced in the Court of Palm Beach County, Florida, or in the Federal District
Court for the Southern District of Florida (the “Applicable Courts”). Maker also consents to venue and personal jurisdiction
in any of the Applicable Courts and agrees not to contest either venue or personal jurisdiction in the Applicable Courts for any
reason, including inconvenient forum. The provisions of this Section shall not limit or otherwise affect the right of Payee to
institute and conduct action in any other appropriate manner, jurisdiction or court. 

 

9.
       Additional Waivers. Maker
hereby waives presentment for payment, demand, demand for payment, notice of demand, notice of nonpayment or dishonor, notice of
acceleration, protest and notice of protest of this Note, and all other notices in connection with the delivery, acceptance, performance,
default or enforcement of the payment of the Note. Maker agrees that its liability shall be unconditional without regard to the
liability of any other party and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification
granted or consented to by Payee. Maker consents to any and all extensions of time, renewals, waivers or modifications that may
be granted by Payee with respect to payment or other provisions of this Note.

 

    	 	 4	 

     

    

 

10.
       Costs and Expenses. Maker
shall pay upon demand all reasonable and documented costs and expenses incurred by Payee in the exercise of any of its rights,
remedies or powers under this Note and any amount thereof not paid within ten (10) business days following demand therefor shall
be added to the Principal Sum hereunder and shall bear interest at the Default Rate from the date of such demand until paid in
full. 

 

11.
       Severability. If any
provision of this Note is held to be invalid or unenforceable by a court of competent jurisdiction, the other provisions of this
Note shall remain in full force and effect and shall be liberally construed in favor of Payee in order to effectuate the provisions
of this Note. 

 

12.
       Limitation of Interest to
Maximum Lawful Rate. In no event shall the rate of interest payable under this Note exceed the maximum rate of interest permitted
to be charged by applicable law (including choice of law rules) and any interest paid in excess of the permitted rate shall be
refunded to Maker. Such refund shall be made by application of the excessive amount of interest paid against any sums outstanding
under this Note and shall be applied on such order as Payee may determine. If the excessive amount of interest paid exceeds the
sums outstanding under this Note, the portion exceeding the sums outstanding under this Note shall be refunded in cash by Payee.
Any such crediting or refund shall not cure or waive any default by Maker hereunder. Maker agrees, however, that in determining
whether or not any interest payable under this Note exceeds the highest rate permitted by law, any non-principal payment, including
without limitation prepayment fees and late charges, shall be deemed to the extent permitted by law to be an expense, fee, premium
or penalty rather than interest. 

 

13.
       Limitation on Payee’s
Waivers. Payee shall not be deemed, by any act or omission or commission, to have waived any of its rights or remedies hereunder
unless such waiver is in writing and signed by Payee, and then only to the extent specifically set forth in the writing. A waiver
as to one event shall not be construed as continuing or as a bar to or waiver of any right or remedy to a subsequent event. 

 

14.
       No Offset. The obligations
of Maker under this Note shall not be subject to any abatement or offset as a consequence of any claim, event or transaction otherwise
occurring or arising between Maker, Payee and/or any affiliate of any of them, except as Maker and Payee may otherwise agree. 

 

15.
       Applicable Law. This
instrument shall be governed by and construed according to the laws of the state of Florida, without reference to its conflicts
of laws doctrines. All disputes related to this Note shall have exclusive jurisdiction in the Applicable Courts, and the Parties
agree to accept personal jurisdiction in such courts and waive any objection to such jurisdiction on any basis, including, but
not limited to, forum non conveniens. 

 

16.
       Captions. The captions
or headings of the paragraphs in this Note are for convenience only and shall not control or affect the meaning or construction
of any of the terms or provisions of the Note. 

 

17.
       Pronouns. Pronouns used
herein shall be deemed to include the masculine, feminine or neuter, singular or plural, as their contexts may require. The words
“Payee” and “Maker” shall be deemed to include the respective heirs, personal representatives, successors
and assigns of Payee and Maker. 

 

    	 	 5	 

     

    

 

18.
       Construction. The language
in this Agreement shall be construed as a whole according to its fair meaning, strictly neither for nor against any party, and
without implying a presumption that its terms shall be more strictly construed against one party by reason of the rule of construction
that a document is to be construed more strictly against the person who drafted it. 

 

19.
       Computation. The unpaid
principal amount of this Note, the unpaid interest accrued thereon, the interest rate or rates applicable to such unpaid principal
amount, the duration of such applicability, and all other Amounts Due owing by Maker to Payee pursuant to this Note shall at all
times be ascertained from the records of Payee, which shall be conclusive absent manifest error. 

 

20.
       Assignment. Maker may
not assign or otherwise transfer any of its obligations under this Note without the prior written consent of Payee. 

 

21.
       Stamp Taxes. Maker shall
pay the cost of any revenue, tax or other stamps now or hereafter required by the laws of the state of Florida (or any of its political
subdivisions) or the United States of America to be affixed to this note, and if any taxes are imposed under the laws of the state
of Florida (or any of its political subdivisions) or the United States of America with respect to evidences of indebtedness, Maker
shall pay or reimburse Payee upon demand the amount of such taxes without credit against any indebtedness evidenced by this Note.

 

22.
       Notices. All notices,
requests, waivers, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given,
made and received when hand delivered against receipt, or on the day after it is sent by United States certified or registered
mail, postage prepaid, return receipt requested, by nationally recognized overnight courier service, or by facsimile, to: 

 

If to Maker: 

 

MDNA Life Sciences, Inc., 2054 Vista Parkway, Suite
400, West Palm Beach, FL 33411 ATTN: Christopher Mitton, Chief Executive Officer, Telephone: 844-321-6362

 

If to Payee: 

 

183 West Canton St. Boston. MA. 02116

 

Or such other address as shall be specified from time to time
(in compliance with the requirements of this Section 23 for the giving of notice) by the Parties entitled to receive such notices.

 

IN WITNESS WHEREOF, Maker, intending to
be legally bound hereby, has caused this Note to be duly executed the day and year first above written.

 

MAKER:  MDNA LIFE SCIENCES, INC.

 

	By: 	/s/ Christopher Mitton 	 
		Christopher Mitton 	 
	 	Chief Executive Officer 	 

 

    	 	 6	 

     

    

 

EXHIBIT A

 

FORM OF CONVERSION NOTICE

 

Reference is made to
the 8% Secured Convertible Note (the “Note”) issued to the undersigned by MDNA Life Sciences, Inc. (the “Company”).
In accordance with and pursuant to the Note, the undersigned hereby elects to convert the amount of the outstanding Amount Due
(as defined in the Note) indicated below into shares of common stock of the Company (the “Conversion Shares”), as of
the date specified below. Capitalized terms used herein but not otherwise defined herein shall have the meanings ascribed to them
in the Note.

  

	1.	Date of Conversion:	 
	 	 	 
	2.	Amount of outstanding Principal to be converted:	 
	 	 	 
	3.	Amount of accrued and unpaid Interest on such outstanding Principal:	 
	 	 	 
	4.	Total Conversion Amount (Sum of lines 2 and 3):	 
	 	 	 
	5.	Please confirm the following information:	 
	 	 	 
	 	Conversion Price:	 
	 	Number of Shares to be issued in respect of the Conversion Amount:	 

 

	6.	Please issue the Shares into which the Note is being converted in the following name and to the following address:

 

	 	Name of Holder:	 	 
	 	Address:	 	 
	 	Facsimile Number:	 	 
	 	Telephone Number:	 	 

 

	By:	 	 
	 	Name:	 
	 	Title:	 
	 	 	 
	Dated:	 	 

 

	Holder Requests Delivery to be made: (check one)	 
	 	 	 
	 	By Delivery of Physical Certificates to the Above Address	 
	 	 	 
	 	Through Depository Trust Corporation (Account

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00347-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00347-of-00352.parquet"}]]