Document:

asti-ex43_716.htm

Exhibit 4.3

 

DESCRIPTION OF THE REGISTRANT’S COMMON STOCK

REGISTERED PURSUANT TO SECTION 12 OF THE

SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED

 

The common stock of Ascent Solar Technologies, Inc. is registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Our shares of common stock are traded on the OTC stock market under the trading symbol “ASTI.”

 

The following summary describes our common stock and the material provisions of our certificate of incorporation, our bylaws, and of the Delaware General Corporation Law (the “DGCL”). Because the following is only a summary, it does not contain all of the information that may be important to you. For a complete description, you should refer to our certificate of incorporation and bylaws filed as exhibits to our Annual Report on Form 10-K filed with the Securities Exchange Commission, of which this Exhibit 4.3 is a part. We encourage you to read those documents and the DGCL carefully.

 

Authorized Capital Stock

 

Our authorized capital stock consists of 20,000,000,000 shares of common stock, par value $0.0001 per share, and 25,000,000 shares of preferred stock, par value $0.0001 per share.

 

The authorized but unissued shares of common and preferred stock are available for future issuance without stockholder approval, unless otherwise required by law or applicable stock exchange rules. Additional authorized but unissued shares may be used for a variety of corporate purposes, including future public offerings to raise additional capital, corporate acquisitions and employee benefit plans. The existence of authorized but unissued shares could hinder or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger or otherwise.

 

Outstanding Capital Stock

 

As of May 12, 2021, the Company had issued and outstanding:

 

	
 
	
•
	
18,345,583,473 shares of common stock;

	
 
	
•
	
48,100 shares of Series A preferred stock;

	
 
	
•
	
3,800 shares of Series 1A preferred stock; and 

	
 
	
•
	
no shares of Series B-1, Series B-2, Series C, Series D, Series D-1, Series E, Series F, Series G, Series H, Series I, Series J, Series J-1 or Series K preferred stock.

 

Common Stock

 

The holders of our common stock are entitled to one vote for each share held on all matters submitted to a vote of the stockholders. The holders of our common stock do not have any cumulative voting rights. Holders of our common stock are entitled to receive ratably any dividends declared by our board of directors out of funds legally available for that purpose, subject to any preferential dividend rights of any outstanding preferred stock. Our common stock has no preemptive rights, conversion rights or other subscription rights or redemption or sinking fund provisions.

 

In the event of our liquidation, dissolution or winding up, holders of our common stock will be entitled to share ratably in all assets remaining after payment of all debts and other liabilities and any liquidation preference of any outstanding preferred stock. Each outstanding share of common stock is duly and validly issued, fully paid and non-assessable.

 

Preferred Stock

 

Our board is authorized by our charter to establish classes or series of preferred stock and fix the designation, powers, preferences and rights of the shares of each such class or series and the qualifications, limitations or restrictions thereof without any further vote or action by our stockholders. Any shares of preferred stock so issued could have priority over our common stock with respect to dividend or liquidation rights. Any future issuance of preferred stock may have the effect of 

1

 

delaying, deferring or preventing a change in our control without further action by our stockholders and may adversely affect the voting and other rights of the holders of our common stock.

 

The issuance of shares of preferred stock, or the issuance of rights to purchase such shares, could be used to discourage an unsolicited acquisition proposal. For instance, the issuance of a series of preferred stock might impede a business combination by including class voting rights that would enable a holder to block such a transaction. In addition, under certain circumstances, the issuance of preferred stock could adversely affect the voting power of holders of our common stock. Although our board is required to make any determination to issue preferred stock based on its judgment as to the best interests of our stockholders, our board could act in a manner that would discourage an acquisition attempt or other transaction that some, or a majority, of our stockholders might believe to be in their best interests or in which such stockholders might receive a premium for their stock over the then market price of such stock.

 

Anti-Takeover Effects of Certain Provisions of Delaware Law and Our Certificate of Incorporation and Bylaws

 

Our charter and bylaws contain a number of provisions that could make our acquisition by means of a tender or exchange offer, a proxy contest or otherwise more difficult. These provisions are summarized below.

 

Board Composition; Removal of Directors and Filling Board Vacancies

 

Our charter provides that stockholders may remove directors only for cause and only by the affirmative vote of the holders of at least a majority of the shares entitled to vote at an election of directors.  

 

Our bylaws authorize only our board of directors to fill vacant directorships, including newly created seats. In addition, the number of directors constituting our board of directors may only be set by a resolution adopted by a majority vote of our entire board of directors. These provisions would prevent a stockholder from increasing the size of our board of directors and then gaining control of our board of directors by filling the resulting vacancies with its own nominees. This makes it more difficult to change the composition of our board of directors but promotes continuity of management.

 

Staggered Board

 

Our Board is divided into three classes, with one class of directors elected at each year's annual stockholders meeting. Staggered terms tend to protect against sudden changes in management and may have the effect of delaying, deferring or preventing a change in our control without further action by our stockholders.

 

Advance Notice Requirements

 

Our bylaws provide advance notice procedures for stockholders seeking to bring matters before our annual meeting of stockholders or to nominate candidates for election as directors at our annual meeting of stockholders. Our bylaws also specify certain requirements regarding the form and content of a stockholder’s notice. These provisions might preclude our stockholders from bringing matters before our annual meeting of stockholders or from making nominations for directors at our annual meeting of stockholders if the proper procedures are not followed. We expect that these provisions might also discourage or deter a potential acquirer from conducting a solicitation of proxies to elect the acquirer’s own slate of directors or otherwise attempting to obtain control of our company.

 

Special Meetings

 

Our bylaws provide that special meetings of stockholders may only be called at the request of a majority of the board, and only those matters set forth in the notice of the special meeting may be considered or acted upon at a special meeting of stockholders.

 

Undesignated Preferred Stock

 

Our charter provides for 25,000,000 authorized shares of preferred stock. The existence of authorized but unissued shares of preferred stock may enable our board to discourage an attempt to obtain control of us by means of a merger, tender offer, proxy contest or otherwise. For example, if in the due exercise of its fiduciary obligations, our board of directors were to determine that a takeover proposal is not in the best interests of our stockholders, our board could cause shares of convertible 

2

 

preferred stock to be issued without stockholder approval in one or more private offerings or other transactions that might dilute the voting or other rights of the proposed acquirer or insurgent stockholder or stockholder group. In this regard, our charter grants our board broad power to establish the rights and preferences of authorized and unissued shares of preferred stock. The issuance of shares of preferred stock could decrease the amount of earnings and assets available for distribution to holders of shares of common stock. The issuance may also adversely affect the rights and powers, including voting rights, of these holders and may have the effect of delaying, deterring or preventing a change in control of us.

 

Delaware Anti-Takeover Statute

 

We are subject to the provisions of Section 203 of the DGCL. In general, Section 203 prohibits a publicly held Delaware corporation from engaging in a “business combination” with an “interested stockholder” for a three-year period following the time that this stockholder becomes an interested stockholder, unless the business combination is approved in a prescribed manner. Under Section 203, a business combination between a corporation and an interested stockholder is prohibited unless it satisfies one of the following conditions:

 

	
 
	
•
	
before the stockholder became interested, our board approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder;

 

	
 
	
•
	
upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding, shares owned by persons who are directors and also officers, and employee stock plans, in some instances, but not the outstanding voting stock owned by the interested stockholder; or

 

	
 
	
•
	
at or after the time the stockholder became interested, the business combination was approved by our board and authorized at an annual or special meeting of the stockholders by the affirmative vote of at least two-thirds of the outstanding voting stock which is not owned by the interested stockholder.

 

Section 203 defines a business combination to include:

 

	
 
	
•
	
any merger or consolidation involving the corporation and the interested stockholder;

 

	
 
	
•
	
any sale, transfer, lease, pledge, exchange, mortgage or other disposition involving the interested stockholder of 10% or more of the assets of the corporation;

 

	
 
	
•
	
subject to exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder; or

 

	
 
	
•
	
the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation.

 

In general, Section 203 defines an interested stockholder as any entity or person beneficially owning 15% or more of the outstanding voting stock of the corporation and any entity or person affiliated with or controlling or controlled by the entity or person.

 

Transfer Agent and Registrar

 

The transfer agent and registrar of our common stock is Computershare Investor Services.

 

3DEBT
SETTLEMENT AGREEMENT

 

This
Debt Settlement Agreement (hereinafter referred to as this “Agreement”) is made and dated as of the 11th
day of December, 2020.

 

BETWEEN:

 

37
Capital Inc., of

Suite
400 – 570 Granville Street

Vancouver,
BC V6C 3P1

 

(hereinafter
referred to as “37 Capital”)

 

AND:

 

Starnet,

 

 

(hereinafter
referred to as “Starnet”)

 

WHEREAS in
respect to a loan advanced by Starnet to 37 Capital during February 2016, 37 Capital owes the sum of $103,924.20 to Starnet
as of September 30, 2020 (the “37 Capital Debt”);

 

AND
WHEREAS by means of a letter dated December 4, 2020, 37 Capital offered to Starnet as full and final settlement of the 37
Capital Debt and all matters related to the 37 Capital Debt through the issuance to Starnet of 2,078,484 common shares of 37 Capital
at a deemed price of $0.05 per common share (“37 Capital’s Offer”);

 

AND
WHEREAS Starnet accepted 37 Capital’s Offer as full and final settlement of the 37 Capital Debt and all matters related
to the 37 Capital Debt.

 

The
parties hereto agree as follows:

 

		1.	If
                                         required by the Canadian Securities Exchange (“CSE”), this Agreement shall
                                         be subject to the acceptance for the listing of the 2,078,484 common shares of 37 Capital
                                         on the CSE;

 

		2.	37
                                         Capital shall issue to Starnet through the issuance of 2,078,484 common shares of 37
                                         Capital at a deemed price of $0.05 per common share, as full and final settlement of
                                         the 37 Capital Debt and all matters related to 37 Capital Debt;

 

		3.	The
                                         2,078,484 common shares of 37 Capital that shall be issued to Starnet will be subject
                                         to four months and a day hold period in accordance with applicable Canadian securities
                                         laws;

 

		4.	This
                                         Agreement will be governed by and construed in accordance with the laws of the Province
                                         of British Columbia, Canada, and the parties hereto attorn to the exclusive jurisdiction
                                         of the courts of British Columbia, Canada to entertain all conflicts, disputes, claims
                                         and/or actions that may arise out of this Agreement;

 

		5.	This
                                         Agreement represents the full understanding and entire agreement in respect to the subject
                                         matter between the parties hereto and there are no other representations and/or agreements,
                                         oral or written between the parties hereto in respect to the subject matter, and that
                                         this Agreement may not be modified without an agreement in writing signed by all the
                                         parties hereto.

 

and,

 

		6.	This
                                         Agreement may be executed in several counterparts, including facsimile or email, each
                                         of which when executed shall be deemed to be an original and such counterparts shall
                                         together be one and the same instrument effective as of the day given above.

 

 

Agreed
and accepted as of ____ day of December, 2020.

 

	37 CAPITAL INC.	 	STARNET
	 	 	 
	per:	 	per:
		 	 
	/s/ Jake
    Kalpakian	 	/s/ Rudolf Baetsen
	Jake Kalpakian	 	Authorized Signatory
	 	 	 
	 	 	Name: Rudolf Baetsen

 

    	 	1	 

     

    

 

DEBT
SETTLEMENT AGREEMENT

 

This
Debt Settlement Agreement (hereinafter referred to as this “Agreement”) is made and dated as of the 11th
day of December, 2020.

 

BETWEEN:

 

37
Capital Inc., of

Suite
400 – 570 Granville Street

Vancouver,
BC V6C 3P1

 

(hereinafter
referred to as “37 Capital”)

 

AND:

Roberto
Fia, of

197
Beech Avenue

Toronto,
ON M4E 3H8

 

(hereinafter
referred to as “Fia”)

 

 

WHEREAS
in respect to funds advanced by Fia to 37 Capital in a cancelled private placement transaction, 37 Capital owes the sum of
$10,000 to Fia as of September 30, 2020 (the “37 Capital Debt”);

 

AND
WHEREAS by means of a letter dated December 4, 2020, 37 Capital offered to Fia as full and final settlement of the 37 Capital
Debt and all matters related to the 37 Capital Debt through the issuance to Fia of 200,000 common shares of 37 Capital at a deemed
price of $0.05 per common share (“37 Capital’s Offer”);

 

AND
WHEREAS Fia accepted 37 Capital’s Offer as full and final settlement of the 37 Capital Debt and all matters related
to the 37 Capital Debt.

 

The
parties hereto agree as follows:

 

		1.	If
                                         required by the Canadian Securities Exchange (“CSE”), this Agreement shall
                                         be subject to the acceptance for the listing of the 200,000 common shares of 37 Capital
                                         on the CSE;

 

		2.	37
                                         Capital shall issue to Fia through the issuance of 200,000 common shares of 37 Capital
                                         at a deemed price of $0.05 per common share, as full and final settlement of the 37 Capital
                                         Debt and all matters related to 37 Capital Debt;

 

		3.	The
                                         200,000 common shares of 37 Capital that shall be issued to Fia will be subject to four
                                         months and a day hold period in accordance with applicable Canadian securities laws;

 

		4.	This
                                         Agreement will be governed by and construed in accordance with the laws of the Province
                                         of British Columbia, Canada, and the parties hereto attorn to the exclusive jurisdiction
                                         of the courts of British Columbia, Canada to entertain all conflicts, disputes, claims
                                         and/or actions that may arise out of this Agreement;

 

		5.	This
                                         Agreement represents the full understanding and entire agreement in respect to the subject
                                         matter between the parties hereto and there are no other representations and/or agreements,
                                         oral or written between the parties hereto in respect to the subject matter, and that
                                         this Agreement may not be modified without an agreement in writing signed by all the
                                         parties hereto.

 

and,

 

		6.	This
                                         Agreement may be executed in several counterparts, including facsimile or email, each
                                         of which when executed shall be deemed to be an original and such counterparts shall
                                         together be one and the same instrument effective as of the day given above.

 

 

Agreed
and accepted as of ____ day of December, 2020.

 

	37 CAPITAL INC.	 	Roberto Fia
	 	 	 
	per:	 	per:
		 	 
	/s/ Jake
    Kalpakian	 	/s/
    Roberto Fia
	Jake Kalpakian	 	Roberto Fia

 

 

    	 	2	 

     

    

DEBT
SETTLEMENT AGREEMENT

 

This
Debt Settlement Agreement (hereinafter referred to as this “Agreement”) is made and dated as of the 11th
day of December, 2020.

 

BETWEEN:

 

37
Capital Inc., of

Suite
400 – 570 Granville Street

Vancouver,
BC V6C 3P1

 

(hereinafter
referred to as “37 Capital”)

 

AND:

 

McMillan
LLP, of

Royal
Centre, 1055 W. Georgia Street, Suite 1500

PO
Box 11117

Vancouver,
BC V6E 4N7

 

(hereinafter
referred to as “McMillan”)

 

 

WHEREAS
in respect to services rendered by McMillan to 37 Capital, 37 Capital owes the sum of $10,322.12 to McMillan as of September
30, 2020 (the “37 Capital Debt”);

 

AND
WHEREAS by means of a letter dated December 4, 2020, 37 Capital offered to McMillan as full and final settlement of the 37
Capital Debt and all matters related to the 37 Capital Debt through the issuance to McMillan of 206,442 common shares of 37 Capital
at a deemed price of $0.05 per common share (“37 Capital’s Offer”);

 

AND
WHEREAS McMillan accepted 37 Capital’s Offer as full and final settlement of the 37 Capital Debt and all matters related
to the 37 Capital Debt.

 

The
parties hereto agree as follows:

 

		1.	If
                                         required by the Canadian Securities Exchange (“CSE”), this Agreement shall
                                         be subject to the acceptance for the listing of the 206,442 common shares of 37 Capital
                                         on the CSE;

 

		2.	37
                                         Capital shall issue to McMillan through the issuance of 206,442 common shares of 37 Capital
                                         at a deemed price of $0.05 per common share, as full and final settlement of the 37 Capital
                                         Debt and all matters related to 37 Capital Debt;

 

		3.	The
                                         206,442 common shares of 37 Capital that shall be issued to McMillan will be subject
                                         to four months and a day hold period in accordance with applicable Canadian securities
                                         laws;

 

		4.	This
                                         Agreement will be governed by and construed in accordance with the laws of the Province
                                         of British Columbia, Canada, and the parties hereto attorn to the exclusive jurisdiction
                                         of the courts of British Columbia, Canada to entertain all conflicts, disputes, claims
                                         and/or actions that may arise out of this Agreement;

 

		5.	This
                                         Agreement represents the full understanding and entire agreement in respect to the subject
                                         matter between the parties hereto and there are no other representations and/or agreements,
                                         oral or written between the parties hereto in respect to the subject matter, and that
                                         this Agreement may not be modified without an agreement in writing signed by all the
                                         parties hereto.

 

and,

 

		6.	This
                                         Agreement may be executed in several counterparts, including facsimile or email, each
                                         of which when executed shall be deemed to be an original and such counterparts shall
                                         together be one and the same instrument effective as of the day given above.

 

 

Agreed
and accepted as of ____ day of December, 2020.

 

	37 CAPITAL INC.	 	MCMILLAN LLP
	 	 	 
	per:	 	per:
		 	 
	/s/ Jake Kalpakian	 	/s/
    Cory Kent
	Jake Kalpakian	 	Cory Kent

 

    	 	3	 

     

    

 

DEBT
SETTLEMENT AGREEMENT

 

This
Debt Settlement Agreement (hereinafter referred to as this “Agreement”) is made and dated as of the 11th
day of December, 2020.

 

BETWEEN:

 

37
Capital Inc., of

Suite
400 – 570 Granville Street

Vancouver,
BC V6C 3P1

 

(hereinafter
referred to as “37 Capital”)

 

AND:

Mackie
Research Capital Corporation, of

(formerly
Jordan Capital Markets Inc.)

Suite
1920, 1075 West Georgia St.

Vancouver
BC V6E 3C9

 

 

(hereinafter
referred to as “Mackie”)

 

 

WHEREAS
in respect to the Convertible Debenture dated July 23, 2013, 37 Capital owes the principal amount plus accrued interest totaling
$105,121.00 to Mackie as of November 30, 2020 (the “37 Capital Debt”);

 

AND
WHEREAS by means of a letter dated December 4, 2020, 37 Capital offered to Mackie as full and final settlement of the 37 Capital
Debt and all matters related to the 37 Capital Debt through the issuance to Mackie of 2,102,420 common shares of 37 Capital at
a deemed price of $0.05 per common share (“37 Capital’s Offer”);

 

AND
WHEREAS Mackie accepted 37 Capital’s Offer as full and final settlement of the 37 Capital Debt and all matters related
to the 37 Capital Debt.

 

The
parties hereto agree as follows:

 

		1.	If
                                         required by the Canadian Securities Exchange (“CSE”), this Agreement shall
                                         be subject to the acceptance for the listing of the 2,102,420 common shares of 37 Capital
                                         on the CSE;

 

		2.	37
                                         Capital shall issue to Mackie through the issuance of 2,102,420 common shares of 37 Capital
                                         at a deemed price of $0.05 per common share, as full and final settlement of the 37 Capital
                                         Debt and all matters related to 37 Capital Debt;

 

		3.	The
                                         2,102,420 common shares of 37 Capital that shall be issued to Mackie will be subject
                                         to four months and a day hold period in accordance with applicable Canadian securities
                                         laws;

 

		4.	This
                                         Agreement will be governed by and construed in accordance with the laws of the Province
                                         of British Columbia, Canada, and the parties hereto attorn to the exclusive jurisdiction
                                         of the courts of British Columbia, Canada to entertain all conflicts, disputes, claims
                                         and/or actions that may arise out of this Agreement;

 

		5.	This
                                         Agreement represents the full understanding and entire agreement in respect to the subject
                                         matter between the parties hereto and there are no other representations and/or agreements,
                                         oral or written between the parties hereto in respect to the subject matter, and that
                                         this Agreement may not be modified without an agreement in writing signed by all the
                                         parties hereto.

 

and,

 

		6.	This
                                         Agreement may be executed in several counterparts, including facsimile or email, each
                                         of which when executed shall be deemed to be an original and such counterparts shall
                                         together be one and the same instrument effective as of the day given above.

 

 

Agreed
and accepted as of ____ day of December, 2020.

 

	37 CAPITAL INC.	 	MACKIE RESEARCH
    CAPITAL CORPORATION
	 	 	 
	per:	 	per:
		 	 
	/s/ Jake Kalpakian	 	/s/
    Stewart Vorberg
	Jake Kalpakian	 	Stewart Vorberg

 

    	 	4	 

     

    

 

DEBT
SETTLEMENT AGREEMENT

 

This
Debt Settlement Agreement (hereinafter referred to as this “Agreement”) is made and dated as of the 11th
day of December, 2020.

 

BETWEEN:

 

37
Capital Inc., of

Suite
400 – 570 Granville Street

Vancouver,
BC V6C 3P1

 

(hereinafter
referred to as “37 Capital”)

 

AND:

Kalpakian
Bros. of B.C. Ltd., of

4005
West 34th Avenue

Vancouver,
BC V6N 2L6

 

(hereinafter
referred to as “KBros.”)

 

 

WHEREAS
in respect to certain loans advanced by KBros. to 37 Capital, 37 Capital owes the principal amount plus accrued interest totaling
$75,413.06 to K Bros. as of November 30, 2020 (the “37 Capital Debt”);

 

AND
WHEREAS by means of a letter dated December 4, 2020, 37 Capital offered to KBros. as full and final settlement of the 37 Capital
Debt and all matters related to the 37 Capital Debt through the issuance to KBros. of 1,508,261 common shares of 37 Capital at
a deemed price of $0.05 per common share (“37 Capital’s Offer”);

 

AND
WHEREAS KBros. accepted 37 Capital’s Offer as full and final settlement of the 37 Capital Debt and all matters related
to the 37 Capital Debt.

 

The
parties hereto agree as follows:

 

		1.	If
                                         required by the Canadian Securities Exchange (“CSE”), this Agreement shall
                                         be subject to the acceptance for the listing of the 1,508,261 common shares of 37 Capital
                                         on the CSE;

 

		2.	37
                                         Capital shall issue to KBros. through the issuance of 1,508,261 common shares of 37 Capital
                                         at a deemed price of $0.05 per common share, as full and final settlement of the 37 Capital
                                         Debt and all matters related to 37 Capital Debt;

 

		3.	The
                                         1,508,261 common shares of 37 Capital that shall be issued to KBros. will be subject
                                         to four months and a day hold period in accordance with applicable Canadian securities
                                         laws;

 

		4.	This
                                         Agreement will be governed by and construed in accordance with the laws of the Province
                                         of British Columbia, Canada, and the parties hereto attorn to the exclusive jurisdiction
                                         of the courts of British Columbia, Canada to entertain all conflicts, disputes, claims
                                         and/or actions that may arise out of this Agreement;

 

		5.	This
                                         Agreement represents the full understanding and entire agreement in respect to the subject
                                         matter between the parties hereto and there are no other representations and/or agreements,
                                         oral or written between the parties hereto in respect to the subject matter, and that
                                         this Agreement may not be modified without an agreement in writing signed by all the
                                         parties hereto.

 

and,

 

		6.	This
                                         Agreement may be executed in several counterparts, including facsimile or email, each
                                         of which when executed shall be deemed to be an original and such counterparts shall
                                         together be one and the same instrument effective as of the day given above.

 

	37 CAPITAL INC.	 	KALPAKIAN BROS.
    OF B.C. LTD.
	 	 	 
	per:	 	per:
		 	 
	/s/ Neil
    Spellman	 	/s/
    Jake     H. Kalpakian
	Neil Spellman	 	Jake H. Kalpakian

 

    	 	5	 

     

    

 

DEBT
SETTLEMENT AGREEMENT

 

This
Debt Settlement Agreement (hereinafter referred to as this “Agreement”) is made and dated as of the 11th
day of December, 2020.

 

BETWEEN:

 

37
Capital Inc., of

Suite
400 – 570 Granville Street

Vancouver,
BC V6C 3P1

 

(hereinafter
referred to as “37 Capital”)

 

AND:

Jake
H. Kalpakian, of

4005
West 34th Avenue

Vancouver,
BC V6N 2L6

 

(hereinafter
referred to as “JHK”)

 

WHEREAS
in respect to certain loans advanced by JHK to 37 Capital, 37 Capital owes the principal amount plus accrued interest totaling
$20,994.81 to JHK as of November 30, 2020 (the “37 Capital Debt”);

 

AND
WHEREAS by means of a letter dated December 4, 2020, 37 Capital offered to JHK as full and final settlement of the 37 Capital
Debt and all matters related to the 37 Capital Debt through the issuance to JHK of 419,896 common shares of 37 Capital at a deemed
price of $0.05 per common share (“37 Capital’s Offer”);

 

AND
WHEREAS JHK accepted 37 Capital’s Offer as full and final settlement of the 37 Capital Debt and all matters related
to the 37 Capital Debt.

 

The
parties hereto agree as follows:

 

		1.	If
                                         required by the Canadian Securities Exchange (“CSE”), this Agreement shall
                                         be subject to the acceptance for the listing of the 419,896 common shares of 37 Capital
                                         on the CSE;

 

		2.	37
                                         Capital shall issue to JHK through the issuance of 419,896 common shares of 37 Capital
                                         at a deemed price of $0.05 per common share, as full and final settlement of the 37 Capital
                                         Debt and all matters related to 37 Capital Debt;

 

		3.	The
                                         419,896 common shares of 37 Capital that shall be issued to JHK will be subject to four
                                         months and a day hold period in accordance with applicable Canadian securities laws;

 

		4.	This
                                         Agreement will be governed by and construed in accordance with the laws of the Province
                                         of British Columbia, Canada, and the parties hereto attorn to the exclusive jurisdiction
                                         of the courts of British Columbia, Canada to entertain all conflicts, disputes, claims
                                         and/or actions that may arise out of this Agreement;

 

		5.	This
                                         Agreement represents the full understanding and entire agreement in respect to the subject
                                         matter between the parties hereto and there are no other representations and/or agreements,
                                         oral or written between the parties hereto in respect to the subject matter, and that
                                         this Agreement may not be modified without an agreement in writing signed by all the
                                         parties hereto.

 

and,

 

		6.	This
                                         Agreement may be executed in several counterparts, including facsimile or email, each
                                         of which when executed shall be deemed to be an original and such counterparts shall
                                         together be one and the same instrument effective as of the day given above.

 

	37 CAPITAL INC.	 	JACKPOT DIGITAL INC.
	 	 	 
	per:	 	per:
		 	 
	/s/ Neil
    Spellman	 	Jake
    H. Kalpakian
	Neil Spellman	 	Jake H. Kalpakian

 

    	 	6	 

     

    

 

DEBT
SETTLEMENT AGREEMENT

 

This
Debt Settlement Agreement (hereinafter referred to as this “Agreement”) is made and dated as of the 11th
day of December, 2020.

 

BETWEEN:

 

37
Capital Inc., of

Suite
400 – 570 Granville Street

Vancouver,
BC V6C 3P1

 

(hereinafter
referred to as “37 Capital”)

 

AND:

 

Jackpot
Digital Inc., 

Suite
400, 570 Granville Street

Vancouver,
BC V6C 3P1

 

(hereinafter
referred to as “Jackpot”)

 

 

WHEREAS
in respect to rent charged and office support services rendered by Jackpot to 37 Capital, 37 Capital owes the sum of $149,345.00
to Jackpot as of September 30, 2020 (the “37 Capital Debt”);

 

AND
WHEREAS by means of a letter dated December 4, 2020, 37 Capital offered to Jackpot as full and final settlement of the 37
Capital Debt and all matters related to the 37 Capital Debt through the issuance to Jackpot of 2,986,900 common shares of 37 Capital
at a deemed price of $0.05 per common share (“37 Capital’s Offer”);

 

AND
WHEREAS Jackpot accepted 37 Capital’s Offer as full and final settlement of the 37 Capital Debt and all matters related
to the 37 Capital Debt.

 

The
parties hereto agree as follows:

 

		1.	If
                                         required by the Canadian Securities Exchange (“CSE”), this Agreement shall
                                         be subject to the acceptance for the listing of the 2,986,900 common shares of 37 Capital
                                         on the CSE;

 

		2.	37
                                         Capital shall issue to Jackpot through the issuance of 2,986,900 common shares of 37
                                         Capital at a deemed price of $0.05 per common share, as full and final settlement of
                                         the 37 Capital Debt and all matters related to 37 Capital Debt;

 

		3.	The
                                         2,986,900 common shares of 37 Capital that shall be issued to Jackpot will be subject
                                         to four months and a day hold period in accordance with applicable Canadian securities
                                         laws;

 

		4.	This
                                         Agreement will be governed by and construed in accordance with the laws of the Province
                                         of British Columbia, Canada, and the parties hereto attorn to the exclusive jurisdiction
                                         of the courts of British Columbia, Canada to entertain all conflicts, disputes, claims
                                         and/or actions that may arise out of this Agreement;

 

		5.	This
                                         Agreement represents the full understanding and entire agreement in respect to the subject
                                         matter between the parties hereto and there are no other representations and/or agreements,
                                         oral or written between the parties hereto in respect to the subject matter, and that
                                         this Agreement may not be modified without an agreement in writing signed by all the
                                         parties hereto.

 

and,

 

		6.	This
                                         Agreement may be executed in several counterparts, including facsimile or email, each
                                         of which when executed shall be deemed to be an original and such counterparts shall
                                         together be one and the same instrument effective as of the day given above.

 

 

Agreed
and accepted as of ____ day of December, 2020.

 

	37 CAPITAL INC.	 	JACKPOT DIGITAL INC.
	 	 	 
	per:	 	per:
		 	 
	/s/ Jake Kalpakian	 	/s/ Neil Spellman
	Jake Kalpakian	 	Neil Spellman

 

 

    	 	7	 

     

    

 

DEBT
SETTLEMENT AGREEMENT

 

This
Debt Settlement Agreement (hereinafter referred to as this “Agreement”) is made and dated as of the 11th
day of December, 2020.

 

BETWEEN:

 

37
Capital Inc., of

Suite
400 – 570 Granville Street

Vancouver,
BC V6C 3P1

 

(hereinafter
referred to as “37 Capital”)

 

AND:

 

Anfield
Sujir Kennedy & Durno, 

c/o
3200-650 West Georgia Street

Vancouver
BC V6B 4P7

 

(hereinafter
referred to as “ASKD”)

 

 

WHEREAS
in respect to services rendered by ASKD to 37 Capital, 37 Capital owes the sum of $50,534.87 to ASKD as of September 30, 2020
(the “37 Capital Debt”).

 

AND
WHEREAS by means of a letter dated December 4, 2020, 37 Capital offered to ASKD as full and final settlement of the 37 Capital
Debt and all matters related to the 37 Capital Debt through the issuance to ASKD of 1,010,697 common shares of 37 Capital at a
deemed price of $0.05 per common share (“37 Capital’s Offer”);

 

AND
WHEREAS ASKD accepted 37 Capital’s Offer as full and final settlement of the 37 Capital Debt and all matters related
to the 37 Capital Debt.

 

The
parties hereto agree as follows:

 

		1.	If
                                         required by the Canadian Securities Exchange (“CSE”), this Agreement shall
                                         be subject to the acceptance for the listing of the 1,010,697 common shares of 37 Capital
                                         on the CSE;

 

		2.	37
                                         Capital shall issue to ASKD through the issuance of 1,010,697 common shares of 37 Capital
                                         at a deemed price of $0.05 per common share, as full and final settlement of the 37 Capital
                                         Debt and all matters related to 37 Capital Debt;

 

		3.	The
                                         1,010,697 common shares of 37 Capital that shall be issued to ASKD will be subject to
                                         four months and a day hold period in accordance with applicable Canadian securities laws;

 

		4.	This
                                         Agreement will be governed by and construed in accordance with the laws of the Province
                                         of British Columbia, Canada, and the parties hereto attorn to the exclusive jurisdiction
                                         of the courts of British Columbia, Canada to entertain all conflicts, disputes, claims
                                         and/or actions that may arise out of this Agreement;

 

		5.	This
                                         Agreement represents the full understanding and entire agreement in respect to the subject
                                         matter between the parties hereto and there are no other representations and/or agreements,
                                         oral or written between the parties hereto in respect to the subject matter, and that
                                         this Agreement may not be modified without an agreement in writing signed by all the
                                         parties hereto.

 

and,

 

		6.	This
                                         Agreement may be executed in several counterparts, including facsimile or email, each
                                         of which when executed shall be deemed to be an original and such counterparts shall
                                         together be one and the same instrument effective as of the day given above.

 

 

Agreed
and accepted as of ____ day of December, 2020.

 

 

	37 CAPITAL INC.	 	ANFIELD SUJIR KENNEDY & DURNO
	 	 	 
	per:	 	per:
	 	 	 
	/s/ Jake Kalpakian	 	/s/ Michael Kennedy
	Jake Kalpakian	 	Michael Kennedy

 

 

    	 	8	 

     

    

 

DEBT
SETTLEMENT AGREEMENT

 

This
Debt Settlement Agreement (hereinafter referred to as this “Agreement”) is made and dated as of the 11th
day of December, 2020.

 

BETWEEN:

 

37
Capital Inc., of

Suite
400 – 570 Granville Street

Vancouver,
BC V6C 3P1

 

(hereinafter
referred to as “37 Capital”)

 

AND:

 

Andras
Szabo, of

Verhalom
utca 28

Budapest
1062

Hungary

 

(hereinafter
referred to as “Szabo”)

 

 

WHEREAS
in respect to the Convertible Debenture dated April 12, 2013, 37 Capital owes the principal amount plus accrued interest totaling
$103,231.18 to Szabo as of November 30, 2020 (the “37 Capital Debt”);

 

AND
WHEREAS by means of a letter dated December 4, 2020, 37 Capital offered to Szabo as full and final settlement of the 37 Capital
Debt and all matters related to the 37 Capital Debt through the issuance to Szabo of 2,064,624 common shares of 37 Capital at
a deemed price of $0.05 per common share (“37 Capital’s Offer”);

 

AND
WHEREAS Szabo accepted 37 Capital’s Offer as full and final settlement of the 37 Capital Debt and all matters related
to the 37 Capital Debt.

 

The
parties hereto agree as follows:

 

		1.	If
                                         required by the Canadian Securities Exchange (“CSE”), this Agreement shall
                                         be subject to the acceptance for the listing of the 2,064,624 common shares of 37 Capital
                                         on the CSE;

 

		2.	37
                                         Capital shall issue to Szabo through the issuance of 2,064,624 common shares of 37 Capital
                                         at a deemed price of $0.05 per common share, as full and final settlement of the 37 Capital
                                         Debt and all matters related to 37 Capital Debt;

 

		3.	The
                                         2,064,624 common shares of 37 Capital that shall be issued to Szabo will be subject to
                                         four months and a day hold period in accordance with applicable Canadian securities laws;

 

		4.	This
                                         Agreement will be governed by and construed in accordance with the laws of the Province
                                         of British Columbia, Canada, and the parties hereto attorn to the exclusive jurisdiction
                                         of the courts of British Columbia, Canada to entertain all conflicts, disputes, claims
                                         and/or actions that may arise out of this Agreement;

 

		5.	This
                                         Agreement represents the full understanding and entire agreement in respect to the subject
                                         matter between the parties hereto and there are no other representations and/or agreements,
                                         oral or written between the parties hereto in respect to the subject matter, and that
                                         this Agreement may not be modified without an agreement in writing signed by all the
                                         parties hereto.

 

and,

 

		6.	This
                                         Agreement may be executed in several counterparts, including facsimile or email, each
                                         of which when executed shall be deemed to be an original and such counterparts shall
                                         together be one and the same instrument effective as of the day given above.

 

	37 CAPITAL INC.	 	ANDRAS SZABO
	 	 	 
	per:	 	per:
	 	 	 
	/s/ Jake Kalpakian	 	/s/ Andras Szabo
	Jake Kalpakian	 	Andras Szabo

 

    	 	9	 

     

    

 

DEBT
SETTLEMENT AGREEMENT

 

This
Debt Settlement Agreement (hereinafter referred to as this “Agreement”) is made and dated as of the 11th
day of December, 2020.

 

BETWEEN:

 

37
Capital Inc., of

Suite
400 – 570 Granville Street

Vancouver,
BC V6C 3P1

 

(hereinafter
referred to as “37 Capital”)

 

AND:

 

JAMCO
Capital Partners Inc., of

302
- 2902 W.Broadway

Vancouver,
BC V6K 2G8

 

(hereinafter
referred to as “JAMCO”)

 

WHEREAS
in respect to a loan advanced by JAMCO to 37 Capital during

February 2017, 37 Capital owes the sum of $53,024.40 to JAMCO as of September 30, 2020 (the “37 Capital Debt”);

 

AND
WHEREAS by means of a letter dated December 4, 2020, 37 Capital offered to JAMCO as full and final settlement of the 37 Capital
Debt and all matters related to the 37 Capital Debt through the issuance to JAMCO of 1,060,488 common shares of 37 Capital at
a deemed price of $0.05 per common share (“37 Capital’s Offer”);

 

AND
WHEREAS JAMCO accepted 37 Capital’s Offer as full and final settlement of the 37 Capital Debt and all matters related
to the 37 Capital Debt.

 

The
parties hereto agree as follows:

 

		1.	If
                                         required by the Canadian Securities Exchange (“CSE”), this Agreement shall
                                         be subject to the acceptance for the listing of the 1,060,488 common shares of 37 Capital
                                         on the CSE;

 

		2.	37
                                         Capital shall issue to JAMCO through the issuance of 1,060,488 common shares of 37 Capital
                                         at a deemed price of $0.05 per common share, as full and final settlement of the 37 Capital
                                         Debt and all matters related to 37 Capital Debt;

 

		3.	The
                                         1,060,488 common shares of 37 Capital that shall be issued to JAMCO will be subject to
                                         four months and a day hold period in accordance with applicable Canadian securities laws;

 

		4.	This
                                         Agreement will be governed by and construed in accordance with the laws of the Province
                                         of British Columbia, Canada, and the parties hereto attorn to the exclusive jurisdiction
                                         of the courts of British Columbia, Canada to entertain all conflicts, disputes, claims
                                         and/or actions that may arise out of this Agreement;

 

		5.	This
                                         Agreement represents the full understanding and entire agreement in respect to the subject
                                         matter between the parties hereto and there are no other representations and/or agreements,
                                         oral or written between the parties hereto in respect to the subject matter, and that
                                         this Agreement may not be modified without an agreement in writing signed by all the
                                         parties hereto.

 

and,

 

		6.	This
                                         Agreement may be executed in several counterparts, including facsimile or email, each
                                         of which when executed shall be deemed to be an original and such counterparts shall
                                         together be one and the same instrument effective as of the day given above.

 

Agreed
and accepted as of ____ day of December, 2020.

 

	37 CAPITAL INC.	 	JAMCO CAPITAL PARTNERS INC.
	 	 	 
	per:	 	per:
	 	 	 
	/s/ Jake
    Kalpakian	 	/s/ Christopher Kape
	Jake Kalpakian	 	Authorized Signatory

 

    	 	10

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