Document:

Exhibit
10.1

 

CURRENCYWORKS
INC.

(the
“Issuer”)

 

PRIVATE
PLACEMENT SUBSCRIPTION AGREEMENT

(UNITS)

 

INSTRUCTIONS
TO SUBSCRIBER

 

	1.	You
    must complete all the information in the boxes on page 2 and sign where indicated with an “X”.
	 	 
	2.	If
    you are resident in Canada, you must complete and sign Exhibit A “Canadian Investor Questionnaire” that starts
    on page 18. The purpose of this form is to determine whether you meet the standards for participation in a private placement
    under applicable Canadian securities laws. In order for the Issuer to satisfy its obligations under applicable Canadian securities
    laws, you may be required to provide additional evidence to verify the information you have provided in Exhibit A.
	 	 
	3.	If
    you are a “U.S. Purchaser”, as defined in Exhibit B, you must complete and sign Exhibit B “United States
    Accredited Investor Questionnaire” that starts on page 32.
	 	 
	4.	If
    you are not an individual (that is, the purchaser is a corporation, partnership, trust or entity other than an individual)
    or you are a portfolio manager, then complete and sign Exhibit C “Corporate Placee Registration Form” (Form 4C)
    that starts on page 37. If you have previously submitted this form to the TSX Venture Exchange, and there have been no changes
    to its content, then please check the box to that effect on page 2.
	 	 
	5.	All
    subscription funds must be in Canadian Dollars.

 

    	 

    	 	- 2 -	 

    

 

CURRENCYWORKS
INC.

 

PRIVATE
PLACEMENT SUBSCRIPTION AGREEMENT

 

The
undersigned (the “Subscriber”) hereby irrevocably subscribes for and agrees to purchase from CurrencyWorks
Inc. (the “Issuer”) that number of units of the Issuer (each, a “Unit”) set out below at
a price of $0.50 per Unit. Each Unit is comprised of one common share in the capital of the Issuer (each, a “Share”)
and one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder
thereof to acquire one Share (each, a “Warrant Share”) at a price of $0.75 per Warrant Share until 5:00 p.m.
(Vancouver time) on the date of expiration of the Warrant, which is two (2) years following the Closing Date (as defined herein).
The Subscriber agrees to be bound by the terms and conditions set forth in the attached “Terms and Conditions of Subscription
for Units”.

 

	 	Subscriber
                                         Information

         

         
	 	 	 	Units
                                         to be Purchased

         

         
	 
	 	(Name
    of Subscriber)	 	 	 	(Number
    of Units)	 
	 	 	 	 	 	 	 
	 	Account
    Reference (if applicable): ____________________	 	 	 	 	 
	 		 	 	 	Total
    Subscription Price: ___________________________	 
	 	 

        X
        
	 	 	 	(the
    “Subscription Amount”, plus wire fees if applicable)	 
	 	(Signature
    of Subscriber – if the Subscriber is an Individual)	 	 	 	 	 
	 	 	 	 	 	 	 
	 	X	 	 	 	 	 
	 	(Signature
                                         of Authorized Signatory – if the Subscriber is not an Individual)

                                                          

        ______________________________________________

        (Name
        and Title of Authorized Signatory – if the Subscriber is not an Individual)

         

        ______________________________________________ 

        (Subscriber’s
        Address, including postal or zip code)

        

         

        ______________________________________________

         

        _______________________________________________ 

        (Telephone
        Number)                                  (Email
        Address)
	 	 	 	If
                                         the Subscriber is signing as trustee or agent for a beneficial purchaser and is not deemed
                                         to be purchasing as principal under National Instrument 45-106 – Prospectus Exemptions
                                         adopted by the Canadian Securities Administrators by virtue of being either: (i) a trust
                                         company or trust corporation acting on behalf of a fully managed account managed by the
                                         trust company or trust corporation; or (ii) a person acting on behalf of a fully managed
                                         account managed by it, and in each case satisfying the criteria set forth in NI 45-106
                                         or Section 73.3 of the Securities Act (Ontario), complete the following and ensure
                                         that the applicable Schedules are completed in respect of the beneficial purchaser (“Disclosed
                                         Beneficial Purchaser”):

        ____________________________________________ 

        (Name
        of Disclosed Beneficial Purchaser)

         

        ____________________________________________ 

        (Address
        of Disclosed Beneficial Purchaser)

         

        ____________________________________________ 

        (Account
        Reference, if applicable)
	 

 

	 	Register
                                         the Shares and Warrants as set forth below:

         

        ______________________________________________

        (Name
        to Appear on Share and Warrant Certificate)

         

        ______________________________________________

        (Account
        Reference, if applicable)

         

        ______________________________________________

        (Address,
        including postal or zip code)
	 	 	 	Deliver
                                         the Shares and Warrants as set forth below:

                                                                      

                                                                     ______________________________________________ 

        (Attention
        - Name)

         

        ______________________________________________

        (Account
        Reference, if applicable)

         

        _____________________________________________ 

        (Street
        Address, including postal or zip code – no PO Boxes permitted)

         

        ______________________________________________

        (Telephone
        Number)
	 

 

	 	Number
                                         and kind of securities of the Issuer held, directly or indirectly, or over which control
                                         or direction is exercised by, the Subscriber, if any (i.e., shares, warrants, options):

         

         

         

        ______________________________________________

        

         

        ______________________________________________

         

         

        

         
	 	 	 	1.
                                         State whether the Subscriber is an insider of the Issuer:

         

        Yes
        [  ]                   No
        [  ]

         

        2.
        State whether the Subscriber is a member of the Pro Group:

         

        Yes
        [  ]                  No
        [  ]

         

        3.
        State whether the Subscriber has a current Form 4C on file with the TSX Venture Exchange (if not an individual):

         

        Yes
        [  ]                  No
        [  ]

         

        4.
        State whether the Subscriber is a registrant:

         

        Yes
        [  ]                  No
        [  ]
	 

 

    	 

    	 	- 3 -	 

    

 

ACCEPTANCE

 

The
Issuer hereby accepts the Subscription (as defined herein) on the terms and conditions contained in this private placement subscription
agreement (this “Agreement” or this “Subscription Agreement”) as of the _____ day of ___________,
2021 (the “Closing Date”).

 

	CURRENCYWORKS
    INC.	 
	 	 
	Per:	 	 
	 	Authorized
    Signatory	 	 

 

	Address:	561
    Indiana Court	 
	 	Los
    Angeles, CA 90291	 
	Email:
    	Swapan.kakumanu@currencyworks.io	 
	Attention:	Swapan
    Kakumanu	 

 

    	 

    	 	- 4 -	 

    

 

TERMS
AND CONDITIONS OF SUBSCRIPTION FOR units

 

1.
Subscription

 

1.1
On the basis of the representations and warranties, and subject to the terms and conditions, set forth in this Agreement, the
Subscriber hereby irrevocably subscribes for and agrees to purchase such number of Units as is set forth on page 2 of this Agreement
at a price of CAD$0.50 per Unit for the Subscription Amount shown on page 2 of this Agreement, which is tendered herewith (such
subscription and agreement to purchase being the “Subscription”), and the Issuer agrees to sell the Units to
the Subscriber, effective upon the Issuer’s acceptance of this Agreement.

 

1.2
The Subscriber acknowledges that the Units have been offered to the Subscriber as part of an offering by the Issuer of additional
Units to other subscribers for gross proceeds of up to $4,000,000 (or any such greater or lesser amount as may be determined by
the Issuer in its sole discretion) (the “Offering”).

 

1.3
Each Unit will consist of one Share and one Warrant. Each Warrant will entitle the holder thereof to purchase one Warrant Share,
as presently constituted, for a period of two (2) years commencing from the Closing Date at an exercise price of CAD$0.75 per
Warrant Share. The Units, the Shares, the Warrants and the Warrant Shares are referred to herein as the “Securities”.

 

1.4
The Warrants will contain a provision restricting the exercise of the Warrants as follows:

 

	 	(a)	Notwithstanding
    anything to the contrary set forth herein, at no time may the Subscriber of any Warrant exercise the Warrants if the number
    of shares to be issued pursuant to such exercise would exceed, when aggregated with all other shares owned by such Subscriber
    at such time, the number of shares which would result in such Subscriber beneficially owning (as determined in accordance
    with Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules thereunder) in excess of 4.99% of all
    of the shares outstanding at such time; provided, however, that upon the Subscriber providing the Company with sixty-one (61)
    days’ notice that such Holder would like to waive this Section with regard to any or all shares issuable upon exercise
    of the Warrants, this Section will be of no force or effect with regard to all or a portion of the Warrants referenced in
    such notice; provided, further, that this Section shall be of no further force or effect during the sixty-one (61) days immediately
    preceding the expiration of the term of the Warrants.

 

1.5
All dollar amounts referred to in this Agreement are in lawful money of Canada, unless otherwise indicated.

 

2.
Payment

 

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

 

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

 

    	 

    	 	- 5 -	 

    

 

3.
Documents Required from Subscriber

 

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

 

	 	(a)	this
    Agreement;
	 	 	 
	 	(b)	if
    the Subscriber is a resident of Canada, the Canadian Investor Questionnaire (the “Canadian Questionnaire”)
    attached as Exhibit A that starts on page 18, along with any additional evidence that may be requested by the Issuer to verify
    the information provided in the Canadian Questionnaire;
	 	 	 
	 	(c)	if
    the Subscriber is a U.S. Purchaser (as defined in Exhibit B), the United States Accredited Investor Questionnaire (the “U.S.
    Questionnaire” and, together with the Canadian Questionnaire, the “Questionnaires”) attached
    as Exhibit B that starts on page 32 along with any additional evidence that may be requested by the Issuer to verify the information
    provided in the U.S. Questionnaire;
	 	 	 
	 	(d)	if
    the Subscriber is not an individual or is a portfolio manager and does not have a current Corporate Placee Registration Form
    on file with the TSX Venture Exchange (the “Exchange”), the Corporate Placee Registration Form attached
    as Exhibit C that starts on page 37, unless the Subscriber has previously submitted this form to the Exchange, there have
    been no changes to its content, and the Subscriber has checked the box to that effect on page 2 of this Agreement; and
	 	 	 
	 	(e)	such
    other supporting documentation that the Issuer may request to establish the Subscriber’s qualification as a qualified
    investor,

 

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

 

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

 

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

 

4.
Conditions and Closing

 

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

 

    	 

    	 	- 6 -	 

    

 

4.2
The Closing is conditional upon and subject to:

 

	 	(a)	the
    Issuer having obtained all necessary approvals and consents, including applicable regulatory approvals, for the Offering;
	 	 	 
	 	(b)	the
    issue and sale of the Units being exempt from the requirement to file a prospectus and the requirement to deliver an offering
    memorandum under applicable securities laws relating to the sale of the Units, or the Issuer having received such orders,
    consents or approvals as may be required to permit such sale without the requirement to file a prospectus or deliver an offering
    memorandum; and
	 	 	 
	 	(c)	the
    Issuer having obtained the approval of the Exchange for the Offering.

 

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

 

5.
Acknowledgements and Agreements of the Subscriber

 

5.1
The Subscriber acknowledges and agrees that:

 

	 	(a)	except
    as provided in this Agreement, none of the Securities have been or will be registered under the United States Securities
    Act of 1933, as amended (the “1933 Act”), or under any securities or “blue sky” laws of
    any state of the United States, and, unless so registered, may not be offered or sold in the United States or, directly or
    indirectly, to any U.S. Person (as defined in Section 6.2), except in accordance with the provisions of Regulation S under
    the 1933 Act (“Regulation S”), pursuant to an effective registration statement under the 1933 Act, or pursuant
    to an exemption from, or in a transaction not subject to, the registration requirements of the 1933 Act, and in each case
    only in accordance with applicable state, provincial and foreign securities laws; 
	 	 	 
	 	(b)	hedging
    transactions involving the Securities may not be conducted unless such transactions are in compliance with the provisions
    of the 1933 Act and in each case only in accordance with applicable securities laws;
	 	 	 
	 	(c)	the
    Issuer has not undertaken, and will have no obligation, to register any of the Securities under the 1933 Act or any other
    applicable securities laws;
	 	 	 
	 	(d)	the
    Issuer will refuse to register the transfer of any of the Securities to a U.S. Person not made pursuant to an effective registration
    statement under the 1933 Act or pursuant to an available exemption from the registration requirements of the 1933 Act, and
    in each case in accordance with all applicable laws;
	 	 	 
	 	(e)	the
    decision to execute this Agreement and to acquire the Securities has not been based upon any oral or written representation
    as to fact or otherwise made by or on behalf of the Issuer and such decision is based entirely upon a review of any public
    information which has been filed by the Issuer with the United States Securities and Exchange Commission (the “SEC”)
    or EDGAR at www.sec.gov (collectively, the “Public Record”);
	 	 	 
	 	(f)	the
    Issuer has not solicited the Subscriber using any registration statement filed by the Issuer with the SEC and the Subscriber
    has not reviewed or relied on such registration statement in connection with the Subscribers decision to invest in the Securities;

 

    	 

    	 	- 7 -	 

    

 

	 	(g)	the
    Issuer and others will rely upon the truth and accuracy of the acknowledgements, representations, warranties, covenants and
    agreements of the Subscriber contained in this Agreement and the Questionnaires, as applicable, and the Subscriber agrees
    that if any of such acknowledgements, representations and agreements are no longer accurate or have been breached, the Subscriber
    will promptly notify the Issuer;
	 	 	 
	 	(h)	there
    are risks associated with the acquisition of the Securities, as more fully described in this Agreement and the Issuer’s
    periodic disclosure forming part of the Public Record;
	 	 	 
	 	(i)	the
    Subscriber and the Subscriber’s advisor(s) have had a reasonable opportunity to ask questions of and receive answers
    from the Issuer in connection with the distribution of the Securities hereunder, and to obtain additional information, to
    the extent possessed or obtainable without unreasonable effort or expense, necessary to verify the accuracy of the information
    about the Issuer;
	 	 	 
	 	(j)	a
    portion of this Offering may be sold pursuant to an agreement between the Issuer and one or more agents registered in accordance
    with applicable securities laws, in which case the Issuer will pay a fee and/or compensation securities on terms as set out
    in such agreement; 
	 	 	 
	 	(k)	finder’s
    fees or broker’s commissions may be payable by the Issuer to finders who introduce subscribers to the Issuer;
	 	 	 
	 	(l)	the
    books and records of the Issuer were available upon reasonable notice for inspection, subject to certain confidentiality restrictions,
    by the Subscriber during reasonable business hours at its principal place of business, and all documents, records and books
    in connection with the distribution of the Securities hereunder have been made available for inspection by the Subscriber,
    the Subscriber’s legal counsel and/or the Subscriber’s advisor(s);
	 	 	 
	 	(m)	all
    of the information which the Subscriber has provided to the Issuer is correct and complete, and if there should be any change
    in such information prior to the Closing, the Subscriber will immediately notify the Issuer, in writing, of the details of
    any such change;
	 	 	 
	 	(n)	the
    Issuer is entitled to rely on the representations and warranties of the Subscriber contained in this Agreement and the Questionnaires,
    as applicable;
	 	 	 
	 	(o)	any
    resale of the Securities by the Subscriber will be subject to resale restrictions contained in the securities laws applicable
    to the Issuer, the Subscriber and any proposed transferee, and it is the responsibility of the Subscriber to find out what
    those restrictions are and to comply with such restrictions before selling any of the Securities;
	 	 	 
	 	(p)	the
    Subscriber has been advised to consult the Subscriber’s own legal, tax and other advisors with respect to the merits
    and risks of an investment in the Securities and with respect to applicable resale restrictions, and the Subscriber is solely
    responsible (and the Issuer is not in any way responsible) for compliance with any applicable:

 

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

 

    	 

    	 	- 8 -	 

    

 

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

 

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

 

and,
if applicable:

 

WITHOUT
PRIOR WRITTEN APPROVAL OF THE TSX VENTURE EXCHANGE AND COMPLIANCE WITH ALL APPLICABLE SECURITIES LEGISLATION, THE SECURITIES REPRESENTED
BY THIS CERTIFICATE MAY NOT BE SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE TRADED ON OR THROUGH THE FACILITIES OF THE TSX VENTURE
EXCHANGE OR OTHERWISE IN CANADA OR TO OR FOR THE BENEFIT OF A CANADIAN RESIDENT UNTIL [four months and one day from the Closing
Date.];

 

If
the Subscriber is not resident in the United States:

 

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

 

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

 

    	 

    	 	- 9 -	 

    

 

If
the Subscriber is resident in the United States:

 

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

 

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

 

6.
Representations and Warranties of the Subscriber

 

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

 

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

 

	 	(i)	the
    Subscriber is knowledgeable of, or has been independently advised as to, the applicable securities laws having application
    in the jurisdiction in which the Subscriber is resident (the “International Jurisdiction”) which would
    apply to the offer and sale of the Units and the Subscriber will comply with all laws of the International Jurisdiction,
	 	 	 
	 	(ii)	the
    Subscriber is purchasing the Units pursuant to exemptions from prospectus or equivalent requirements under applicable laws
    or, if such is not applicable, the Subscriber is permitted to purchase the Securities under applicable securities laws of
    the International Jurisdiction without the need to rely on any exemptions,

 

    	 

    	 	- 10 -	 

    

 

	 	(iii)	the
    applicable securities laws of the International Jurisdiction do not require the Issuer to make any filings or seek any approvals
    of any kind from any securities regulator of any kind in the International Jurisdiction in connection with the offer, issue,
    sale or resale of any of the Securities,

 

	 	(iv)	the
    purchase of the Units by the Subscriber does not trigger:

 

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

 

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

 

	 	(d)	if
    the Subscriber is: (i) a corporation, the Subscriber is duly incorporated and is validly subsisting under the laws of its
    jurisdiction of incorporation and has all requisite legal and corporate power and authority to sign and deliver this Subscription
    Agreement, to subscribe for the Units and to carry out and perform its obligations under its terms and has obtained all necessary
    approvals in this respect; (ii) a partnership, syndicate or other form of unincorporated organization, the Subscriber has
    the necessary legal capacity and authority to sign and deliver this Subscription Agreement and to observe and perform its
    covenants and obligations and has obtained all necessary approvals in this respect; or (iii) an individual, the Subscriber
    is of the full age of majority and is legally competent to sign this Subscription Agreement and to observe and perform his
    or her obligations under it, and in the cases of (i) and (ii) is not a person created or used solely to purchase or hold the
    Securities in reliance on an exemption from the prospectus requirements under applicable securities laws;
	 	 	 
	 	(e)	the
    entering into of this Agreement and the transactions contemplated hereby do not result in the violation of any of the terms
    and provisions of any law applicable to, or, if applicable, the constating documents of, the Subscriber or of any agreement,
    written or oral, to which the Subscriber may be a party or by which the Subscriber is or may be bound;
	 	 	 
	 	(f)	the
    Subscriber has duly executed and delivered this Agreement and it constitutes a valid and binding agreement of the Subscriber
    enforceable against the Subscriber in accordance with its terms;
	 	 	 
	 	(g)	in
    the case of a subscription for the Units by the Subscriber acting as trustee, agent or attorney for a Disclosed Beneficial
    Purchaser, the Subscriber is duly authorized to sign and deliver this Subscription Agreement and all other necessary documentation
    in connection with the subscription on behalf of each Disclosed Beneficial Purchaser, each of whom is subscribing as principal
    for its own account, not for the benefit of any other person and for investment only and not with a view to the resale or
    distribution of all or any of the Securities, and this Subscription Agreement has been duly authorized, signed and delivered
    by or on behalf of, and constitutes a legal, valid and binding agreement of, such Disclosed Beneficial Purchaser, and is enforceable
    against such Disclosed Beneficial Purchaser in accordance with its terms;

 

    	 

    	 	- 11 -	 

    

 

	 	(h)	the
    Subscriber has received and carefully read this Agreement;
	 	 	 
	 	(i)	the
    Subscriber is purchasing the Units as principal;
	 	 	 
	 	(j)	the
    Subscriber is aware that an investment in the Issuer is speculative and involves certain risks, including those risks disclosed
    in the Public Record and the possible loss of the entire Subscription Amount;
	 	 	 
	 	(k)	the
    Subscriber has made an independent examination and investigation of an investment in the Securities and the Issuer and agrees
    that the Issuer will not be responsible in any way for the Subscriber’s decision to invest in the Securities and the
    Issuer;
	 	 	 
	 	(l)	the
    Subscriber is not an underwriter of, or dealer in, any of the Securities, nor is the Subscriber participating, pursuant to
    a contractual agreement or otherwise, in the distribution of the Securities;
	 	 	 
	 	(m)	the
    Subscriber is not aware of any advertisement of any of the Units and is not acquiring the Units as a result of any form of
    general solicitation or general advertising, including advertisements, articles, notices or other communications published
    in any newspaper, magazine or similar media, or broadcast over radio or television, or any seminar or meeting whose attendees
    have been invited by general solicitation or general advertising; and
	 	 	 
	 	(n)	no
    person has made to the Subscriber any written or oral representations:

 

	 	(i)	that
    any person will resell or repurchase any of the Securities,
	 	 	 
	 	(ii)	that
    any person will refund the purchase price of any of the Securities, or
	 	 	 
	 	(iii)	as
    to the future price or value of any of the Securities.

 

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

 

7.
Representations and Warranties of the Issuer

 

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

 

	 	(a)	the
    Issuer has been duly incorporated and organized and is a valid and subsisting company under the laws of the State of Nevada,
    and is duly qualified to carry on business in each jurisdiction wherein the carrying out of the activities contemplated makes
    such qualifications necessary;

 

    	 

    	 	- 12 -	 

    

 

	 	(b)	the
    Issuer has the full corporate right, power and authority to execute this Subscription Agreement, and to issue the Securities
    to the Subscriber pursuant to the terms of this Agreement; and
	 	 	 
	 	(c)	this
    Agreement constitutes a binding and enforceable obligation of the Issuer, enforceable in accordance with its terms.

 

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

 

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

 

9.
Acknowledgement and Waiver

 

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

 

10.
Personal Information

 

10.1
The Subscriber acknowledges that (on its own behalf and, if applicable, on behalf of each Disclosed Beneficial Purchaser):

 

	 	(a)	this
    Subscription Agreement requires the Subscriber to provide certain personal information to the Issuer. Such information is
    being collected by the Issuer for the purposes of completing the Offering, which includes, without limitation, determining
    the Subscriber’s or each Disclosed Beneficial Purchaser’s eligibility to purchase the Units under applicable securities
    laws, preparing and registering certificates representing the Securities to be issued to the Subscriber, if applicable, and
    completing filings required by any stock exchange or securities regulatory authority; and
	 	 	 
	 	(b)	the
    Subscriber’s and, if applicable, any Disclosed Beneficial Purchaser’s personal information may be disclosed by
    the Issuer to: (i) stock exchanges or securities regulatory authorities; (ii) the Issuer’s registrar and transfer agent;
    and (iii) any of the other parties involved in the Offering, including Issuer’s Counsel, and may be included in record
    books in connection with the Offering, and by executing this Subscription Agreement, the Subscriber (on its own behalf and,
    if applicable, on behalf of any Disclosed Beneficial Purchaser) is deemed to be consenting to the foregoing collection, use
    and disclosure of the Subscriber’s and any Disclosed Beneficial Purchaser’s personal information and to the filing
    of copies or originals of any of the documents as may be required to be filed with any stock exchange or securities regulatory
    authorities in connection with the transactions contemplated hereby and the collection, use and disclosure of any personal
    information by the Exchange for the purposes set out in Exchange policies.

 

    	 

    	 	- 13 -	 

    

 

10.2
The Subscriber (on its own behalf and, if applicable, on behalf of any Disclosed Beneficial Purchaser) hereby: (i) acknowledges
that it has been notified by the Issuer of the delivery to the securities regulatory authorities of the full name, residential
address, telephone number and email address of the Subscriber; the date of distribution, number of securities purchased and total
purchase price; the exemption relied on (including if applicable, the name and position of the director, executive officer, control
person or founder with whom the Subscriber claimed a relationship and whether the Subscriber-is an insider of the Issuer or a
registrant); (ii) acknowledges that this information is being collected by the securities regulatory authorities under the authority
granted in securities legislation, that this information is being collected for the purposes of the administration and enforcement
of the securities legislation of the local jurisdiction, (iii) acknowledges that it has been notified by the Issuer of the title,
business address and business telephone number of the public official in the local jurisdiction, as set out in this form; and
(iv) authorizes the indirect collection of the information by the securities regulatory authorities.

 

Should
the Subscriber have any questions or concerns with respect to the foregoing, the contact information of the public official in
the local jurisdiction who can answer such questions or address such concerns about the securities regulatory authorities’
indirect collection of personal information is provided below:

 

	Alberta
    Securities Commission 

    Suite 600, 250- 5th Street SW

    Calgary, Alberta T2P OR4

    Telephone: (403) 297-6454

    Toll free in Canada: 1-877-355-0585

    Facsimile: (403) 297-2082	 	Office
    of the Superintendent of Securities Government of Yukon

    Department of Community Services

    307 Black Street, 1st floor

    Box 2703, C-6

    Whitehorse, Yukon YIA 2C6

    Telephone: (867) 667-5466

    Facsimile: (867) 393-6251

    Email: Securities@gov.yk.ca
	 	 	 
	British
    Columbia Securities Commission

    P.O. Box 10142, Pacific Centre

    701 West Georgia Street

    Vancouver, British Columbia V7Y IL2

    Toll free in Canada: 1-800-373-6393

    Facsimile: (604) 899-6581

    Email: inquiries@bcsc.bc.ca	 	Government
    of the Northwest Territories 

    Office of the Superintendent of Securities 

    P.O. Box 1320

    Yellowknife, Northwest Territories XIA 2L9

    Attention: Deputy Superintendent, Legal & Enforcement

    Telephone: (867) 920-8984

    Facsimile: (867) 873-0243
	 	 	 
	The
    Manitoba Securities Commission

    500 - 400 St. Mary Avenue

    Winnipeg, Manitoba R3C 4K5

    Telephone: (204) 945-2548

    Toll free in Manitoba 1-800-655-5244

    Facsimile: (204) 945-0330	 	Nova
    Scotia Securities Commission

    Suite 400, 5251 Duke Street

    Duke Tower

    P.O. Box458

    Halifax, Nova Scotia B3J 2P8

    Telephone: (902) 424-7768

    Facsimile: (902) 424-4625
	 	 	 
	Financial
    and Consumer Services Commission 

    (New Brunswick)

    85 Charlotte Street, Suite 300

    Saint John, New Brunswick E2L 2J2

    Telephone: (506) 658-3060

    Toll free in Canada: 1-866-933-2222

    Facsimile: (506) 658-3059

    Email: info@fcnb.ca	 	Government
    of Nunavut Department of 

    Justice Legal Registries 

    Division P.O. Box 1000, Station 570

    1st Floor, Brown Building

    Iqaluit, Nunavut XOA OHO 

    Telephone: (867) 975-6590

    Facsimile: (867) 975-6594

 

    	 

    	 	- 14 -	 

    

 

	Government
    of Newfoundland and Labrador

    Financial Services Regulation Division

    P.O. Box 8700

    Confederation Building

    2nd Floor, West Block

    Prince Philip Drive

    St. John’s, Newfoundland and Labrador AlB 4J6

    Attention: Director of Securities

    Telephone: (709) 7294189

    Facsimile: (709) 729-6187	 	Ontario
    Securities Commission

    20 Queen Street West, 22nd Floor

    Toronto, Ontario M5H 3S8

    Telephone: (416) 593-8314

    Toll free in Canada: 1-877-785-1555

    Facsimile: (416) 593-8122

    Email: exemptmarketfilings@osc.gov.on.ca

    Public official contact regarding indirect collection of information: Inquiries Officer
	 	 	 
	Financial
    and Consumer Affairs Authority of Saskatchewan

    Suite 601 - 1919 Saskatchewan Drive

    Regina, Saskatchewan S4P 4H2

    Telephone: (306) 787-5879

    Facsimile: (306) 787-5899	 	Prince
    Edward Island Securities Office

    95 Rochford Street, 4th Floor Shaw Building

    P.O. Box 2000

    Charlottetown, Prince Edward Island CIA 7N8

    Telephone: (902) 3684569

    Facsimile: (902) 368-5283

 

10.3
The Subscriber represents and warrants that it has the authority to provide the consents and acknowledgements set out in Sections
10.1 and 10.2 on its own behalf and on behalf of all Disclosed Beneficial Purchasers.

 

11.
Anti-Money Laundering

 

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

 

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

 

12.
Costs

 

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

 

13.
Governing Law

 

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

 

    	 

    	 	- 15 -	 

    

 

14.
Survival

 

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

 

15.
Assignment

 

15.1
This Agreement is not transferable or assignable.

 

16.
Severability

 

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

 

17.
Entire Agreement

 

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

 

18.
Notices

 

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

 

19.
Beneficial Subscribers

 

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

 

20.
Execution of Subscription Agreement

 

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

 

21.
Counterparts and Electronic Means

 

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

 

22.
Exhibits

 

22.1
The exhibits attached hereto form part of this Agreement.

 

    	 

    	 	- 16 -	 

    

 

EXHIBIT
A

 

CANADIAN
INVESTOR QUESTIONNAIRE 

 

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

 

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

 

		(i)	is
                                         purchasing the Units as principal (or deemed principal under the terms of National Instrument
                                         45-106 – Prospectus Exemptions adopted by the Canadian Securities Administrators
                                         (“NI 45-106”));

 

		(ii)	(A)
                                         is resident in or is subject to the laws of one of the following (check one):

 

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

 

or

 

	 	(B) [  ]
    is resident in a country other than Canada or the United States;
    and

 

		(iii)	has
                                         not been provided with any offering memorandum in connection with the purchase of the
                                         Units.

 

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

 

	I.	SUBSCRIBERS
    PURCHASING UNDER THE “ACCREDITED INVESTOR” EXEMPTION
	 
	(a)
    	the
    Subscriber is not a trust company or trust company registered under the laws of Prince Edward Island that is not registered
    or authorized under the Trust and Loan Companies Act (Canada) or under comparable legislation in another jurisdiction
    of Canada,
	 	 
	(b)
    	___________ the
    Subscriber is an “accredited investor” within the meaning of NI 45-106, by virtue of satisfying the indicated
    criterion below (YOU MUST INITIAL OR PLACE A CHECK-MARK ON THE APPROPRIATE LINE(S)) (see certain guidance with respect
    to accredited investors that starts on page 20 below)
	 	 
		[  ]	(i)
    	except
    in Ontario, a person registered under the securities legislation of a jurisdiction of Canada as an adviser or dealer,

 

    	 

    	 	- 17 -	 

    

 

		[  ]	(ii)
    	an
    individual registered under the securities legislation of a jurisdiction of Canada as a representative of a person referred
    to in paragraph (i),
	 	 	 	 
		[  ]	(iii)
    	an
    individual formerly registered under the securities legislation of a jurisdiction of Canada, other than an individual formerly
    registered solely as a representative of a limited market dealer under one or both of the Securities Act (Ontario)
    or the Securities Act (Newfoundland and Labrador),
	 	 	 	 
		[  ]	(iv)
    	an
    individual who, either alone or with a spouse, beneficially owns financial assets having an aggregate realizable value that,
    before taxes but net of any related liabilities, exceeds $1,000,000 (YOU MUST ALSO COMPLETE AND SIGN APPENDIX “A”
    TO THIS QUESTIONNAIRE THAT STARTS ON PAGE 30),
	 	 	 	 
		[  ]	(v)
    	an
    individual who beneficially owns financial assets having an aggregate realizable value that, before taxes but net of any related
    liabilities, exceeds $5,000,000,
	 	 	 	 
		[  ]	(vi)
    	an
    individual whose net income before taxes exceeded $200,000 in each of the 2 most recent calendar years or whose net income
    before taxes combined with that of a spouse exceeded $300,000 in each of the 2 most recent calendar years and who, in either
    case, reasonably expects to exceed that net income level in the current calendar year (YOU MUST ALSO COMPLETE AND SIGN
    APPENDIX “A” TO THIS QUESTIONNAIRE THAT STARTS ON PAGE 30),
	 	 	 	 
		[  ]	(vii)
    	an
    individual who, either alone or with a spouse, has net assets of at least $5,000,000 (YOU MUST ALSO COMPLETE AND SIGN APPENDIX
    “A” TO THIS QUESTIONNAIRE THAT STARTS ON PAGE 30),
	 	 	 	 
		[  ]	(viii)
    	a
    person, other than an individual or investment fund, that has net assets of at least $5,000,000 as shown on its most recently
    prepared financial statements and that has not been created or used solely to purchase or hold securities as an accredited
    investor as defined in this paragraph (viii),

 

	 	[  ]	(ix) 	an investment
    fund that distributes or has distributed its securities only to:
	 	 	 	 	 
	 	 	 	(i)	a person that is
    or was an accredited investor at the time of the distribution,
	 	 	 	 	 
	 	 	 	(ii)	a person that acquires
    or acquired securities in the circumstances referred to in Sections 2.10 [Minimum amount investment] of NI 45-106,
    or 2.19 [Additional investment in investment funds] of NI 45-106, or
	 	 	 	 	 
	 	 	 	(iii)	a person described
    in paragraph (i) or (ii) that acquires or acquired securities under Section 2.18 [Investment fund reinvestment] of
    NI 45-106,

 

		[  ]	(x)
    	an
    investment fund that distributes or has distributed securities under a prospectus in a jurisdiction of Canada for which the
    regulator or, in Québec, the securities regulatory authority, has issued a receipt,
	 	 	 	 
		[  ]	(xi)
    	a
    trust company or trust corporation registered or authorized to carry on business under the Trust and Loan Companies Act
    (Canada) or under comparable legislation in a jurisdiction of Canada or a foreign jurisdiction, acting on behalf of a
    fully managed account managed by the trust company or trust corporation, as the case may be,

 

    	 

    	 	- 18 -	 

    

 

		[  ]	(xii)
    	a
    person acting on behalf of a fully managed account managed by that person, if that person is registered or authorized to carry
    on business as an adviser or the equivalent under the securities legislation of a jurisdiction of Canada or a foreign jurisdiction,
	 	 	 	 
		[  ]	(xiii)
    	a
    registered charity under the Income Tax Act (Canada) that, in regard to the trade, has obtained advice from an eligibility
    adviser or an adviser registered under the securities legislation of the jurisdiction of the registered charity to give advice
    on the securities being traded,
	 	 	 	 
		[  ]	(xiv)
    	an
    entity organized in a foreign jurisdiction that is analogous to the entity referred to in paragraph (i) in form and function,
    or
	 	 	 	 
		[  ]	(xv)
    	a
    person in respect of which all of the owners of interests, direct, indirect or beneficial, except the voting securities required
    by law to be owned by directors, are persons that are accredited investors, and
	 	 	 	 
	(c)
    	if
    the Subscriber is an “accredited investor” within the meaning of NI 45-106 by virtue of satisfying the indicated
    criterion as set out in paragraphs (iv), (vi) or (vii) above, the Subscriber has provided the Issuer with the signed risk
    acknowledgment form set out in Appendix “A” to this Questionnaire;

 

	II.	SUBSCRIBERS
    PURCHASING UNDER THE “FAMILY, FRIENDS AND BUSINESS ASSOCIATES” EXEMPTION
	 
	(a)
    	the
    Subscriber is (please initial or place a check-mark on the appropriate line below and provide the requested information, as
    applicable):
	 	 
	 	[  ]	(xvi)
    	a
    director, executive officer or control person of the Issuer, or of an affiliate of the Issuer,
	 	 	 	 
	 	[  ]	(xvii)
    	a
    spouse, parent, grandparent, brother, sister, child or grandchild of _________________________________ (print name of person),
    who is a director, executive officer or control person of the Issuer or of an affiliate of the Issuer,
	 	 	 	 
	 	[  ]	(xviii)
    	a
    parent, grandparent, brother, sister, child or grandchild of the spouse of ___________________________________ (print name
    of person), who is a director, executive officer or control person of the Issuer or of an affiliate of the Issuer,
	 	 	 	 
	 	[  ]	(xix)
    	_________a
                                         close personal friend (see guidance on making this determination that starts on page
                                         27 below) of ___________________________________ (print name of person), who
                                         is a director, executive officer, founder or control person of the Issuer, or of an affiliate
                                         of the Issuer, and has been for __________________________ years based on the following
                                         factors:

                                                                              

	 	 	 	_________________________________________________________________________________
	 	 	 	_________________________________________________________________________________

                                                                              __________________________________________________________________________________

	 	 	 	___________________________________________________________________________________
	 	 	 	____________________(explain
    the nature of the close personal friendship),

 

    	 

    	 	- 19 -	 

    

 

	 	[  ]	(xx)
    	a
                                         close business associate (see guidance on making this determination that starts on
                                         page 27 below) of ___________________________________ (print name of person),
                                         who is a director, executive officer, founder or control person of the Issuer, or of
                                         an affiliate of the Issuer, and has been for __________________________ years based on
                                         the following factors _________________________________________________________________________________

        _________________________________________________________________________________

        _________________________________________________________________________________

        _________________________________________________________________________________

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

	 	 	 	 
	 	[  ]	(xxi)
    	a
                                         founder of the Issuer or a spouse, parent, grandparent, brother, sister, child, grandchild,
                                         close personal friend or close business associate (see guidance on making these determinations
                                         that starts on page 27 below) of ________________________________ (print name
                                         of person), who is a founder of the Issuer, and, if a close personal friend or close
                                         business associate of such person, has been for __________________________ years based
                                         on the following factors:

                                                                              __________________________________________________________________________________ 

        

        _________________________________________________________________________________

        _________________________________________________________________________________

        _________________________________________________________________________________

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

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

 

	III.
    	SUBSCRIBERS
    PURCHASING UNDER THE “EMPLOYEE, EXECUTIVE OFFICER, DIRECTOR AND CONSULTANT” EXEMPTION
	 
	(a)
    	the
    Subscriber is (please initial or place a check-mark on the appropriate line below):
	 	 
	 	[  ]	(i)
    	an
    employee, executive officer, director or consultant of the Issuer;
	 	 	 	 
	 	[  ]	(ii)
    	an
    employee, executive officer, director or consultant of a related entity of the Issuer; or
	 	 	 	 
	 	[  ]	(iii)
    	a
    permitted assign of a person referred to in paragraphs (a)(i) or (a)(ii); and

 

    	 

    	 	- 20 -	 

    

 

	(b)	the
    Subscriber covenants, represents and warrants to the Issuer that:
	 	 
	 	 	(i)
    	in
    the case of a Subscriber that is an employee or an employee’s permitted assign, the Subscriber is not induced to participate
    in the distribution by expectation of employment or continued employment of the employee with the Issuer or a related entity
    of the Issuer;
	 	 	 	 
	 	 	(ii)
    	in
    the case of a Subscriber that is an executive officer or an executive officer’s permitted assign, the Subscriber is
    not induced to participate in the distribution by expectation of appointment, employment, continued appointment or continued
    employment of the executive officer with the Issuer or a related entity of the Issuer;
	 	 	 	 
	 	 	(iii)
    	in
    the case of a Subscriber that is a consultant or a consultant’s permitted assign, the Subscriber is not induced to participate
    in the distribution by expectation of engagement of the consultant to provide services or continued engagement of the consultant
    to provide services to the Issuer or a related entity of the Issuer; or
	 	 	 	 
	 	 	(iv)
    	in
    the case of a Subscriber that is an employee of a consultant, the Subscriber is not induced by the Issuer, a related entity
    of the Issuer, or the consultant to participate in the distribution by expectation of employment or continued employment with
    the consultant.

 

	IV.	MINIMUM
    AMOUNT INVESTMENT
	 
	(a)
    	the
    Subscriber is not an individual as that term is defined in applicable Canadian securities laws,
	 	 
	(b)
                                         

        

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

 

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

 

		(a)	an
                                         issuer is “affiliated” with another issuer if

 

		(i)	one
                                         of them is the subsidiary of the other, or

 

		(ii)	each
                                         of them is controlled by the same person;

 

		(b)	“consultant”
                                         means, for an issuer, a person, other than an employee, executive officer, or director
                                         of the issuer or of a related entity of the issuer, that:

 

		(i)	is
                                         engaged to provide services to the issuer or a related entity of the issuer, other than
                                         services provided in relation to a distribution,

 

		(ii)	provides
                                         the services under a written contract with the issuer or a related entity of the issuer,
                                         and

 

    	 

    	 	- 21 -	 

    

  

		(iii)	spends
                                         or will spend a significant amount of time and attention on the affairs and business
                                         of the issuer or a related entity of the issuer

 

and
includes

 

		(iv)	for
                                         an individual consultant, a corporation of which the individual consultant is an employee
                                         or shareholder, and a partnership of which the individual consultant is an employee or
                                         partner, and

 

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

 

		(c)	“control
                                         person” means

 

		(i)	a
                                         person who holds a sufficient number of the voting rights attached to all outstanding
                                         voting securities of an issuer to affect materially the control of the issuer, or

 

		(ii)	each
                                         person in a combination of persons, acting in concert by virtue of an agreement, arrangement,
                                         commitment or understanding, which holds in total a sufficient number of the voting rights
                                         attached to all outstanding voting securities of an issuer to affect materially the control
                                         of the issuer,

 

and,
if a person or combination of persons holds more than 20% of the voting rights attached to all outstanding voting securities of
an issuer, the person or combination of persons is deemed, in the absence of evidence to the contrary, to hold a sufficient number
of the voting rights to affect materially the control of the issuer;

 

		(d)	director”
                                         means

 

		(i)	a
                                         member of the board of directors of a company or an individual who performs similar functions
                                         for a company, and

 

		(ii)	with
                                         respect to a person that is not a company, an individual who performs functions similar
                                         to those of a director of a company;

 

		(e)	“executive
                                         officer” means, for an issuer, an individual who is

 

		(i)	a
                                         chair, vice-chair or president,

 

		(ii)	a
                                         vice-president in charge of a principal business unit, division or function including
                                         sales, finance or production, or

 

		(iii)	performing
                                         a policy-making function in respect of the issuer;

 

		(f)	“financial
                                         assets” means

 

		(i)	cash,

 

		(ii)	securities,
                                         or

 

		(iii)	a
                                         contract of insurance, a deposit or an evidence of a deposit that is not a security for
                                         the purposes of securities legislation;

 

    	 

    	 	- 22 -	 

    

 

		(g)	“founder”
                                         means, in respect of an issuer, a person who,

 

		(i)	acting
                                         alone, in conjunction, or in concert with one or more persons, directly or indirectly,
                                         takes the initiative in founding, organizing or substantially reorganizing the business
                                         of the issuer, and

 

		(ii)	at
                                         the time of the distribution or trade is actively involved in the business of the issuer”;

 

		(h)	“holding
                                         entity” means a person that is controlled by an individual;

 

		(i)	“individual”
                                         means a natural person, but does not include

 

		(i)	a
                                         partnership, unincorporated association, unincorporated syndicate, unincorporated organization
                                         or trust, or

 

		(ii)	a
                                         natural person in the person’s capacity as a trustee, executor, administrator or
                                         personal or other legal representative;

 

		(j)	“permitted
                                         assign” means, for a person that is an employee, executive officer, director
                                         or consultant of an issuer or of a related entity of the issuer,

 

		(i)	a
                                         trustee, custodian, or administrator acting on behalf of, or for the benefit of the person,

 

		(ii)	a
                                         holding entity of the person,

 

		(iii)	a
                                         RRSP, RRIF, or TFSA (each as defined in NI 45-106) of the person,

 

		(iv)	a
                                         spouse of the person,

 

		(v)	a
                                         trustee, custodian, or administrator acting on behalf of, or for the benefit of the spouse
                                         of the person,

 

		(vi)	a
                                         holding entity of the spouse of the person, or

 

		(vii)	a
                                         RRSP, RRIF, or TFSA of the spouse of the person;

 

		(k)	“person”
                                         includes

 

		(i)	an
                                         individual,

 

		(ii)	a
                                         corporation,

 

		(iii)	a
                                         partnership, trust, fund and an association, syndicate, organization or other organized
                                         group of persons, whether incorporated or not, and

 

		(iv)	an
                                         individual or other person in that person’s capacity as a trustee, executor, administrator
                                         or personal or other legal representative;

 

		(l)	“related
                                         entity” means, for an issuer, a person that controls or is controlled by the
                                         issuer or that is controlled by the same person that controls the issuer;

 

    	 

    	 	- 23 -	 

    

 

		(m)	“related
                                         liabilities” means

 

		(i)	liabilities
                                         incurred or assumed for the purpose of financing the acquisition or ownership of financial
                                         assets, or

 

		(ii)	liabilities
                                         that are secured by financial assets, and

 

		(n)	“spouse”
                                         means, an individual who,

 

		(i)	is
                                         married to another individual and is not living separate and apart within the meaning
                                         of the Divorce Act (Canada), from the other individual,

 

		(ii)	is
                                         living with another individual in a marriage-like relationship, including a marriage-like
                                         relationship between individuals of the same gender, or

 

		(iii)	in
                                         Alberta, is an individual referred to in paragraph (i) or (ii), or is an adult interdependent
                                         partner within the meaning of the Adult Interdependent Relationships Act (Alberta).

 

Guidance
On Accredited Investor Exemptions for Individuals 

 

An
individual accredited investor is an individual:

 

		(a)	who,
                                         either alone or with a spouse, beneficially owns financial assets (please see the guidance
                                         below regarding what financial assets are) having an aggregate realizable value that.
                                         before taxes but net of any related liabilities (please see the guidance below regarding
                                         what related liabilities are), exceeds $1,000,000;

 

		(b)	whose
                                         net income before taxes exceeded $200,000 in each of the 2 most recent calendar years
                                         or whose net income before taxes combined with that of a spouse exceeded $300,000 in
                                         each of the 2 most recent calendar years and who, in either case, reasonably expects
                                         to exceed that net income level in the current calendar year;

 

		(c)	who,
                                         either alone or with a spouse, has net assets (please see the guidance below regarding
                                         calculating net assets) of at least $5,000,000; and

 

		(d)	who
                                         beneficially owns financial assets (please see the guidance below regarding what financial
                                         assets are) having an aggregate realizable value that, before taxes but net of any related
                                         liabilities (please see the guidance below regarding what related liabilities are), exceeds
                                         $5,000,000.

 

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

 

Spouses

 

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

 

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

 

    	 

    	 	- 24 -	 

    

 

Financial
Assets and Related Liabilities 

 

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

 

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

 

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

 

		●	physical
                                         or constructive possession of evidence of ownership of the financial asset; 

 

		●	entitlement
                                         to receipt of any income generated by the financial asset; 

  

		●	risk
                                         of loss of the value of the financial asset; and 

  

		●	the
                                         ability to dispose of the financial asset or otherwise deal with it as the individual
                                         sees fit. 

 

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

 

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

 

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

 

Net
Assets 

 

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

 

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

 

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

 

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

 

		(a)	a
                                         corporation, trust or other entity, other than an investment fund, that has net assets
                                         (please see the guidance below regarding calculating net assets) of at least $5,000,000
                                         as shown on its most recently prepared financial statements in accordance with applicable
                                         generally accepted accounting principles and that has not been created or used solely
                                         to purchase or hold securities as an accredited investor;

 

    	 

    	 	- 25 -	 

    

 

		(b)	a
                                         corporation, trust or other entity in respect of which all of the owners of interests,
                                         direct, indirect or beneficial, except the voting securities required by law to be owned
                                         by directors, are persons that are accredited investors; and

 

		(c)	a
                                         trust established by an accredited investor for the benefit of the accredited investor’s
                                         family members of which a majority of the trustees are accredited investors and all of
                                         the beneficiaries are the accredited investor’s spouse, a former spouse of the
                                         accredited investor or a parent, grandparent, brother, sister, child or grandchild of
                                         that accredited investor, of that accredited investor’s spouse or of that accredited
                                         investor’s former spouse.

 

Net
Assets 

 

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

 

Guidance
on Close Personal Friend and Close Business Associate Determination 

 

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

 

The
following factors are relevant to this determination:

 

		(a)	the
                                         length of time the individual has known the director, executive officer, founder or control
                                         person,

 

		(b)	the
                                         nature of the relationship between the individual and the director, executive officer,
                                         founder or control person including such matters as the frequency of contacts between
                                         them and the level of trust and reliance in the other circumstances, and

 

		(c)	the
                                         number of “close personal friends” of the director, executive officer, founder
                                         or control person to whom securities have been distributed in reliance on the private
                                         issuer exemption or the family, friends and business associates exemption.

 

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

 

		(a)	a
                                         relative,

 

		(b)	a
                                         member of the same club, organization, association or religious group,

 

		(c)	a
                                         co-worker, colleague or associate at the same workplace,

 

		(d)	a
                                         client, customer, former client or former customer,

 

		(e)	a
                                         mere acquaintance, or

 

		(f)	connected
                                         through some form of social media, such as Facebook, Twitter or LinkedIn.

 

    	 

    	 	- 26 -	 

    

 

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

 

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

 

The
following factors are relevant to this determination:

 

		(a)	the
                                         length of time the individual has known the director, executive officer, founder or control
                                         person,

 

		(b)	the
                                         nature of any specific business relationships between the individual and the director,
                                         executive officer, founder or control person, including, for each relationship, when
                                         it began, the frequency of contact between them and when it terminated if it is not ongoing,
                                         and the level of trust and reliance in the other circumstances,

 

		(c)	the
                                         nature and number of any business dealings between the individual and the director, executive
                                         officer, founder or control person, the length of the period during which they occurred,
                                         and the nature and date of the most recent business dealing, and

 

		(d)	the
                                         number of “close business associates” of the director, executive officer,
                                         founder or control person to whom securities have been distributed in reliance on the
                                         private issuer exemption or the family, friends and business associates exemption.

 

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

 

		(a)	a
                                         member of the same club, organization, association or religious group,

 

		(b)	a
                                         co-worker, colleague or associate at the same workplace,

 

		(c)	a
                                         client, customer, former client or former customer,

 

		(d)	a
                                         mere acquaintance, or

 

		(e)	connected
                                         through some form of social media, such as Facebook, Twitter or LinkedIn.

 

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

 

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

 

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

 

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

 

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

 

DATED
as of _____________day of ______________, 2021.

 

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

 

    	 

    	 	- 27 -	 

    

 

APPENDIX
“A”

TO
CANADIAN INVESTOR QUESTIONNAIRE

 

Form
45-106F9

 

	WARNING!

         

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

 

	SECTION
    1 TO BE COMPLETED BY THE ISSUER OR SELLING SECURITY HOLDER
	1.
    About your investment
	Type
    of securities: Units of the Issuer at a price of CAD$0.50 per Unit. Each Unit will consist of one common share in the capital
    of the Issuer and one warrant. Each warrant will entitle the holder thereof to purchase one common share in the capital of
    the Issuer, as presently constituted, for a period of two years following the date of issue of the units at an exercise price
    of CAD$0.75 per share.	Issuer:
    CURRENCYWORKS INC. (the “Issuer”)
	Purchased
    from: The Issuer.
	SECTIONS
    2 TO 4 TO BE COMPLETED BY THE PURCHASER

	2.
    Risk acknowledgement
	This
    investment is risky. Initial that you understand that:	Your

        initials

	Risk
    of loss – You could lose your entire investment of $._________ [Instruction: Insert the total dollar amount of
    the investment.]	 
	Liquidity
    risk – You may not be able to sell your investment quickly – or at all.	 
	Lack
    of information – You may receive little or no information about your investment.	 
	Lack
    of advice – You will not receive advice from the salesperson about whether this investment is suitable for you unless
    the salesperson is registered. The salesperson is the person who meets with, or provides information to, you about making
    this investment. To check whether the salesperson is registered, go to www.aretheyregistered.ca.	 

	3.
    Accredited investor status
	You
    must meet at least one of the following criteria to be able to make this investment. Initial the statement that applies to
    you. (You may initial more than one statement.) The person identified in section 6 is responsible for ensuring that you meet
    the definition of accredited investor. That person, or the salesperson identified in section 5, can help you if you have questions
    about whether you meet these criteria.	Your

        initials

	●
    	Your
    net income before taxes was more than $200,000 in each of the 2 most recent calendar years, and you expect it to be more than
    $200,000 in the current calendar year. (You can find your net income before taxes on your personal income tax return.)	 

 

    	 

    	 	- 28 -	 

    

 

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

	4.
    Your name and signature
	By
    signing this form, you confirm that you have read this form and you understand the risks of making this investment as identified
    in this form.
	First
    and last name (please print):
	Signature:	Date:
	SECTION
    5 TO BE COMPLETED BY THE SALESPERSON

	5.
    Salesperson information
	[Instruction:
    The salesperson is the person who meets with, or provides information to, the purchaser with respect to making this investment.
    That could include a representative of the issuer or selling security holder, a registrant or a person who is exempt from
    the registration requirement.]
	First
    and last name of salesperson (please print):
	Telephone:	Email:
	Name
    of firm (if registered):
	SECTION
    6 TO BE COMPLETED BY THE ISSUER OR SELLING SECURITY HOLDER

	6.
    For more information about this investment
	For
    investment in a non-investment fund
	CURRENCYWORKS
    INC.
	561
                                         Indiana Court

        Los
        Angeles, CA 90291

	Attn:
    Swapan Kakumanu
	Telephone:
    213.675.5300
	Email:
    Swapan.kakumanu@currencyworks.io
	 
	For
    more information about prospectus exemptions, contact your local securities regulator. You can find contact information at
    www.securities-administrators.ca.

 

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

 

    	 

    	 	- 29 -	 

    

 

EXHIBIT
B

 

UNITED
STATES ACCREDITED INVESTOR QUESTIONNAIRE

 

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

 

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

 

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

 

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

 

	1.	it
    is not resident in Canada;
	 	 
	2.	is
    a current security holder of the Issuer or has a substantive pre-existing relationship with the Issuer (as described above);
	 	 
	3.	it
    has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of
    an investment in the Securities and it is able to bear the economic risk of loss of its entire investment;
	 	 
	4.	the
    Issuer has provided to it the opportunity to ask questions and receive answers concerning the terms and conditions of the
    Offering and it has had access to such information concerning the Issuer as it has considered necessary or appropriate in
    connection with its investment decision to acquire the Securities;
	 	 
	5.	it
    is acquiring the Units for its own account, for investment purposes only and not with a view to any resale, distribution or
    other disposition of the Securities in violation of the United States securities laws;
	 	 
	6.	it
    (i) has adequate net worth and means of providing for its current financial needs and possible personal contingencies, (ii)
    has no need for liquidity in this investment, and (iii) is able to bear the economic risks of an investment in the Units for
    an indefinite period of time;

 

    	 

    	 	- 30 -	 

    

 

	7.	if
    the Subscriber is an individual (that is, a natural person and not a corporation, partnership, trust or other entity), then
    it satisfies one or more of the categories indicated below (please place an “X” on the appropriate lines):

  

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

 

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

  

	 	____________	an
    organization described in Section 501(c)(3) of the United States Internal Revenue Code, a corporation, a Massachusetts or
    similar business trust or partnership, not formed for the specific purpose of acquiring the Units, with total assets in excess
    of US$5,000,000,
	 	 	 
	 	____________	a
    “bank” as defined under Section (3)(a)(2) of the 1933 Act or savings and loan association or other institution
    as defined in Section 3(a)(5)(A) of the 1933 Act acting in its individual or fiduciary capacity; a broker dealer registered
    pursuant to Section 15 of the Securities Exchange Act of 1934 (United States); an insurance company as defined in Section
    2(13) of the 1933 Act; an investment company registered under the Investment Company Act of 1940 (United States) or
    a business development company as defined in Section 2(a)(48) of such Act; a Small Business Investment Company licensed by
    the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958 (United
    States); a plan with total assets in excess of US$5,000,000 established and maintained by a state, a political subdivision
    thereof, or an agency or instrumentality of a state or a political subdivision thereof, for the benefit of its employees;
    an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 (United States)
    whose investment decisions are made by a plan fiduciary, as defined in Section 3(21) of such Act, which is either a bank,
    savings and loan association, insurance company or registered investment adviser, or if the employee benefit plan has total
    assets in excess of US$5,000,000, or, if a self-directed plan, whose investment decisions are made solely by persons that
    are accredited investors,
	 	 	 
	 	____________	a
    private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940 (United
    States),

 

    	 

    	 	- 31 -	 

    

 

	 	___________	a
    trust with total assets in excess of US$5,000,000, not formed for the specific purpose of acquiring the Units, whose purchase
    is directed by a sophisticated person as described in Rule 506(b)(2)(ii) under the 1933 Act, or
	 	 	 
	 	___________	an
    entity in which all of the equity owners satisfy the requirements of one or more of the categories set forth in Section 6
    of this Questionnaire;

 

	9.	it
    has not purchased the Units as a result of any form of general solicitation or general advertising, including advertisements,
    articles, notices or other communications published in any newspaper, magazine or similar media or broadcast over radio, internet,
    television or other form of telecommunications, or any seminar or meeting whose attendees have been invited by general solicitation
    or general advertising;

 

	10.	if
    the Subscriber decides to offer, sell or otherwise transfer any of the Securities, it will not offer, sell or otherwise transfer
    any of such Securities, directly or indirectly, unless:

 

	 	(a)	the
    sale is to the Issuer,
	 	 	 
	 	(b)	the
    sale is made outside the United States in a transaction meeting the requirements of Rule 904 of Regulation S under the 1933
    Act and in compliance with applicable local laws and regulations in which such sale is made;
	 	 	 
	 	(c)	the
    sale is made pursuant to the exemption from the registration requirements under the 1933 Act provided by Rule 144 thereunder
    and in accordance with any applicable state securities or “blue sky” laws, or
	 	 	 
	 	(d)	the
    Securities are sold in a transaction that does not require registration under the 1933 Act or any applicable state laws and
    regulations governing the offer and sale of securities, and
	 	 	 
	 	(e)	it
    has, prior to such sale pursuant to subsection (c) or (d), furnished to the Issuer an opinion of counsel of recognized standing
    reasonably satisfactory to the Issuer, to such effect;

 

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

 

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

 

    	 

    	 	- 32 -	 

    

 

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

 

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

 

[THE
REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

 

    	 

    	 	- 33 -	 

    

 

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

 

Dated
____________________, 2021.

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

 

    	 

    	 	- 34 -	 

    

 

EXHIBIT
C

 

FORM
4C

CORPORATE
PLACEE REGISTRATION FORM

 

This
Form will remain on file with the Exchange and must be completed if required under section 4(b) of Part II of Form 4B. The corporation,
trust, portfolio manager or other entity (the “Placee”) need only file it on one time basis, and it will be referenced
for all subsequent Private Placements in which it participates. If any of the information provided in this Form changes, the Placee
must notify the Exchange prior to participating in further placements with Exchange listed Issuers. If as a result of the Private
Placement, the Placee becomes an Insider of the Issuer, Insiders of the Placee are reminded that they must file a Personal Information
Form (2A) or, if applicable, Declarations, with the Exchange.

 

	1.	Placee
    Information:
	 	 	 
	 	(a)	Name:
    ____________________________________________________________________________ 
	 	 	 
	 	(b)	Complete
    Address: __________________________________________________________________
	 	 	 
	 	(c)	Jurisdiction
    of Incorporation or Creation: __________________________________________________

 

	2.	(a)	Is
    the Placee purchasing securities as a portfolio manager: (Yes/No)? _____________________________
	 	 	 
	 	(b)	Is
    the Placee carrying on business as a portfolio manager outside of Canada:
	 	 	(Yes/No)?
    __________

 

	3.	If
    the answer to 2(b) above was “Yes”, the undersigned certifies that:

 

	 	(a)	it
    is purchasing securities of an Issuer on behalf of managed accounts for which it is making the investment decision to purchase
    the securities and has full discretion to purchase or sell securities for such accounts without requiring the client’s
    express consent to a transaction;
	 	 	 
	 	(b)	it
    carries on the business of managing the investment portfolios of clients through discretionary authority granted by those
    clients (a “portfolio manager” business) in ____________________ [jurisdiction], and it is permitted by law to
    carry on a portfolio manager business in that jurisdiction;

 

	 	(c)	it
    was not created solely or primarily for the purpose of purchasing securities of the Issuer;
	 	 	 
	 	(d)	the
    total asset value of the investment portfolios it manages on behalf of clients is not less than $20,000,000; and
	 	 	 
	 	(e)	it
    has no reasonable grounds to believe, that any of the directors, senior officers and other insiders of the Issuer, and the
    persons that carry on investor relations activities for the Issuer has a beneficial interest in any of the managed accounts
    for which it is purchasing.

 

	4.	If
    the answer to 2(a). above was “No”, please provide the names and addresses of Control Persons of the Placee:

 

	Name
    *	 	City	 	Province
    or State	 	Country
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

*
If the Control Person is not an individual, provide the name of the individual that makes the investment decisions on behalf of
the Control Person.

 

    	 

    	 	- 35 -	 

    

  

	5.	Acknowledgement
    - Personal Information and Securities Laws

 

	 	(a)	“Personal
    Information” means any information about an identifiable individual, and includes information contained in sections
    1, 2 and 4, as applicable, of this Form.

 

The
undersigned hereby acknowledges and agrees that it has obtained the express written consent of each individual to:

 

	 	 	(i)	the
    disclosure of Personal Information by the undersigned to the Exchange (as defined in Appendix 6B) pursuant to this Form; and
	 	 	 	 
	 	 	(ii)	the
    collection, use and disclosure of Personal Information by the Exchange for the purposes described in Appendix 6B or as otherwise
    identified by the Exchange, from time to time.

 

	 	(b)	The
    undersigned acknowledges that it is bound by the provisions of applicable Securities Law, including provisions concerning
    the filing of insider reports and reports of acquisitions.

 

	Dated
    and certified (if applicable), acknowledged and agreed, at ___________________________________________
	on
    __________________________________ 

 

	 	 
	 	(Name
    of Purchaser - please print)
	 	 
	 	 
	 	(Authorized
    Signature)
	 	 
	 	 
	 	(Official
    Capacity - please print)
	 	 
	 	 
	 	(Please
    print name of individual whose signature
	 	appears
    above)

 

THIS
IS NOT A PUBLIC DOCUMENT

 

    	 

    	 	- 36 -	 

    

 

APPENDIX
6B

 

ACKNOWLEDGEMENT
– PERSONAL INFORMATION

 

	1.	TSX
    Venture Exchange Inc. and its affiliates, authorized agents, subsidiaries and divisions, including the TSX Venture Exchange
    (collectively referred to as the “Exchange”) collect Personal Information in certain Forms that are submitted
    by the individual and/or by an Issuer or Applicant and use it for the following purposes:

 

	 	(a)	to
    conduct background checks;
	 	 	 
	 	(b)	to
    verify the Personal Information that has been provided about each individual;
	 	 	 
	 	(c)	to
    consider the suitability of the individual to act as an officer, director, insider, promoter, investor relations provider
    or, as applicable, an employee or consultant, of the Issuer or Applicant;
	 	 	 
	 	(d)	to
    consider the eligibility of the Issuer or Applicant to list on the Exchange;
	 	 	 
	 	(e)	to
    provide disclosure to market participants as to the security holdings of directors, officers, other insiders and promoters
    of the Issuer, or its associates or affiliates;
	 	 	 
	 	(f)	to
    conduct enforcement proceedings; and
	 	 	 
	 	(g)	to
    perform other investigations as required by and to ensure compliance with all applicable rules, policies, rulings
    and regulations of the Exchange, securities legislation and other legal and regulatory requirements governing the conduct
    and protection of the public markets in Canada.

 

As
part of this process, the Exchange also collects additional Personal Information from other sources, including but not
limited to, securities regulatory authorities in Canada or elsewhere, investigative, law enforcement or self-regulatory organizations,
regulations service providers and each of their subsidiaries, affiliates, regulators and authorized agents, to ensure that the
purposes set out above can be accomplished.

 

The
Personal Information the Exchange collects may also be disclosed:

 

	 	(a)	to
    the agencies and organizations in the preceding paragraph, or as otherwise permitted or required by law, and
    they may use it in their own investigations for the purposes described above; and
	 	 	 
	 	(b)	on
    the Exchange’s website or through printed materials published by or pursuant to the directions of the Exchange.

 

The
Exchange may from time to time use third parties to process information and/or provide other administrative services. In this
regard, the Exchange may share the information with such third party service providers.

 

	2.	The
    Commissions may indirectly collect the Personal Information under the authority granted to them by securities legislation.
    The Personal Information is being collected for the purposes of the administration and enforcement of the securities
    legislation of the jurisdiction of each such Commission.

 

For
questions about the collection of Personal Information by the British Columbia Securities Commission, please contact the Administrative
Assistant to the Director of Corporate Finance, 12th Floor, 701 West Georgia Street, Box 10142, Vancouver, BC V7Y 1L2, phone:
(604) 899-6854.

 

    	 

    	 	- 37 -	 

    

 

EXHIBIT
D

 

WIRE
INSTRUCTIONS

 

**
Our Wire Instructions Do Not Change **

 

WIRE
INSTRUCTIONS TO CLARK WILSON LLP TRUST ACCOUNT

- CANADIAN DOLLARS

 

With
Cyber-Crime on the rise, if you receive any communication that appears to be from Clark Wilson LLP that revises our wire instructions,
please consider it suspicious and contact the parties with whom you are working with at Clark Wilson LLP by phone.

 

Instructions
for wiring to BMO in CANADIAN Dollars:

 

	Beneficiary:	 	Clark Wilson LLP, 900 – 885 West Georgia
    Street, Vancouver, BC V6C 3H1
	 	 	 
	Beneficiary Bank:	 	BMO Bank of Montreal, 595 Burrard Street, Vancouver,
    BC V7X 1L7
	 	 	 
	SWIFT Code:	 	BOFMCAM2
	 	 	 
	Transit Number:	 	07730
	 	 	 
	Bank Code:	 	001
	 	 	 
	Beneficiary Account:	 	1024294

 

IMPORTANT
Instructions for Sending Party:

 

	 	●	Wire
    Note:
	 		○	Quote:
    41955-0001/VZH;
	 	●	Provide
    Wire Confirmation form to your Clark Wilson LLP lawyer once wire has been sent. Allows for Clark Wilson LLP Finance team to
    locate/ trace the funds.
	 	●	DO
    NOT DIRECT DEPOSITExhibit
4.1

 

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 OR OTHER LOAN
SECURED BY SUCH SECURITIES.

 

COMMON
STOCK PURCHASE WARRANT

 

ENVERIC
BIOSCIENCES, INC.

 

	Warrant
    Shares: _______	 	Initial
    Exercise Date: February 11, 2021

 

THIS
COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, _____________ or its assigns
(the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter
set forth, at any time on or after the date hereof (the “Initial Exercise Date”) and on or prior to 5:00 p.m.
(New York City time) on February 11, 2026 (the “Termination Date”) but not thereafter, to subscribe for and
purchase from Enveric Biosciences, 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 2(b).

 

Section
1. Definitions. Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain
Securities Purchase Agreement (the “Purchase Agreement”), dated February 9, 2021, among the Company and the
purchasers signatory thereto.

 

    	1

    	 

    

 

Section
2. 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 of a duly
executed facsimile copy or PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto
(the “Notice of Exercise”). Within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days
comprising the Standard Settlement Period (as defined in Section 2(d)(i) herein) following the date of exercise as aforesaid,
the Holder shall deliver the aggregate Exercise Price for the shares specified in the applicable Notice of Exercise by wire transfer
or cashier’s check drawn on a United States bank unless the cashless exercise procedure specified in Section 2(c) below
is specified in the applicable Notice of Exercise. 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 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 three (3) Trading Days of the date on which 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 per share of Common Stock under this Warrant shall be $4.90, subject to adjustment hereunder
(the “Exercise Price”).

 

c)
Cashless Exercise. If at the time of exercise hereof there is no effective registration statement registering, or the prospectus
contained therein is not available for the resale of the Warrant Shares by the Holder, then 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 number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

(A)
= as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice
of Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both
executed and delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of “regular trading hours”
(as defined in Rule 600(b)(68) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the
option of the Holder, either (y) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise
or (z) the Bid Price of the Common Stock on the principal Trading Market as reported by Bloomberg L.P. (“Bloomberg”)
as of the time of the Holder’s execution of the applicable Notice of Exercise if such Notice of Exercise is executed during
“regular trading hours” on a Trading Day and is delivered within two (2) hours thereafter (including until two (2)
hours after the close of “regular trading hours” on a Trading Day) pursuant to Section 2(a) hereof or (iii) the VWAP
on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise
is both executed and delivered pursuant to Section 2(a) hereof after the close of “regular trading hours” on such
Trading Day;

 

    	2

    	 

    

 

(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.

 

If
Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9)
of the Securities Act, the Warrant Shares shall take on the characteristics of the Warrants being exercised, and the holding period
of the Warrant Shares being issued may be tacked on to the holding period of this Warrant. The Company agrees not to take any
position contrary to this Section 2(c).

 

“Bid
Price” 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 bid price of the Common Stock for the time in question (or the nearest
preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg (based on a
Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market,
the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable,
(c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then
reported on The Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices), the most
recent bid price per share of the Common Stock so reported, or (d) 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 Purchasers of a majority in interest of the Securities
then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

“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 (based on a
Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market,
the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable,
(c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then
reported in The Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices), the most
recent bid price per share of the Common Stock so reported, or (d) 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 Purchasers of a majority in interest of the Securities
then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

    	3

    	 

    

 

d)
Mechanics of Exercise.

 

i.
Delivery of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted
by 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 (assuming cashless exercise of the Warrants), 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 the earliest of (i) two (2) Trading Days after the delivery to the Company of the
Notice of Exercise, (ii) one (1) Trading Day after delivery of the aggregate Exercise Price to the Company and (iii) the number
of Trading Days comprising the Standard Settlement Period after the delivery to the Company of the Notice of Exercise (such date,
the “Warrant Share Delivery Date”). Upon delivery of the Notice of Exercise, the Holder shall be deemed for
all corporate purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised,
irrespective of the date of delivery of the Warrant Shares, provided that payment of the aggregate Exercise Price (other than
in the case of a cashless exercise) is received within the earlier of (i) two (2) Trading Days and (ii) the number of Trading
Days comprising the Standard Settlement Period following delivery of the Notice of Exercise. If the Company fails for any reason
to deliver to the Holder the Warrant Shares subject to a Notice of Exercise by the Warrant Share Delivery Date, the Company shall
pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares subject to such exercise
(based on the VWAP of the Common Stock on the date of the applicable Notice of Exercise), $10 per Trading Day (increasing to $20
per Trading Day on the fifth Trading Day after such liquidated damages begin to accrue) for each Trading Day after such Warrant
Share Delivery Date until such Warrant Shares are delivered or Holder rescinds such exercise. The Company agrees to maintain a
transfer agent that is a participant in the FAST program so long as this Warrant remains outstanding and exercisable. As used
herein, “Standard Settlement Period” means the standard settlement period, expressed in a number of Trading
Days, on the Company’s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the
Notice of Exercise.

 

    	4

    	 

    

 

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

 

iii.
Rescission Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant
to Section 2(d)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

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

 

    	5

    	 

    

 

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

 

vi.
Charges, Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer
tax or other incidental expense in respect of the issuance of such 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.

 

    	6

    	 

    

 

e)
Holder’s Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not
have the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect
to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s
Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons,
“Attribution Parties”)), 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 and Attribution Parties 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
or Attribution Parties 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 or Attribution Parties.
Except as set forth in the preceding sentence, for purposes of this Section 2(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 2(e) applies, the determination of whether this Warrant is exercisable (in relation
to other securities owned by the Holder together with any Affiliates and Attribution Parties) 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 Attribution Parties) 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 2(e), in determining the
number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected
in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be, (B) a more recent
public announcement by the Company or (C) a more recent written notice by the Company or the Transfer Agent setting forth the
number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within one Trading
Day 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 or Attribution Parties since the date as of which such number
of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be _____% 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 2(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 2(e) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended
Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect
to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

 

    	7

    	 

    

 

Section
3. Certain Adjustments.

 

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

 

b)
Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company
grants, issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata
to the record holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will
be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could
have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without
regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before
the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the
date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase
Rights (provided, however, that, 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).

 

    	8

    	 

    

 

c)
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, that, 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).

 

    	9

    	 

    

 

d)
Fundamental Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in
one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company
(or any Subsidiary), 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, merger 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 2(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 2(e) on the exercise of this Warrant). For
purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate
Consideration based on the amount of Alternate Consideration issuable in respect of one 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. Notwithstanding
anything to the contrary, in the event of a Fundamental Transaction, the Company or any Successor Entity (as defined below) shall,
at the Holder’s option, exercisable at any time concurrently with, or within 30 days after, the consummation of the Fundamental
Transaction (or, if later, the date of the public announcement of the applicable Fundamental Transaction), purchase this Warrant
from the Holder by paying to the Holder an amount of cash equal to the Black Scholes Value (as defined below) of the remaining
unexercised portion of this Warrant on the date of the consummation of such Fundamental Transaction; provided, however,
that, if the Fundamental Transaction is not within the Company’s control, including not approved by the Company’s
Board of Directors, Holder shall only be entitled to receive from the Company or any Successor Entity the same type or form of
consideration (and in the same proportion), at the Black Scholes Value of the unexercised portion of this Warrant, that is being
offered and paid to the holders of Common Stock of the Company in connection with the Fundamental Transaction, whether that consideration
be in the form of cash, stock or any combination thereof, or whether the holders of Common Stock are given the choice to receive
from among alternative forms of consideration in connection with the Fundamental Transaction; provided, further,
that if holders of Common Stock of the Company are not offered or paid any consideration in such Fundamental Transaction, such
holders of Common Stock will be deemed to have received common stock of the Successor Entity (which Entity may be the Company
following such Fundamental Transaction) in such Fundamental Transaction. “Black Scholes Value” means the value
of this Warrant based on the Black-Scholes Option Pricing Model obtained from the “OV” function on Bloomberg determined
as of the day of consummation of the applicable Fundamental Transaction for pricing purposes and reflecting (A) a risk-free interest
rate corresponding to the U.S. Treasury rate for a period equal to the time between the date of the public announcement of the
applicable Fundamental Transaction and the Termination Date, (B) an expected volatility equal to the greater of 100% and the 100
day volatility obtained from the HVT function on Bloomberg (determined utilizing a 365 day annualization factor) as of the Trading
Day immediately following the public announcement of the applicable Fundamental Transaction, (C) the underlying price per share
used in such calculation shall be the greater of (i) the sum of the price per share being offered in cash, if any, plus the value
of any non-cash consideration, if any, being offered in such Fundamental Transaction and (ii) the highest VWAP during the period
beginning on the Trading Day immediately preceding the announcement of the applicable Fundamental Transaction (or the consummation
of the applicable Fundamental Transaction, if earlier) and ending on the Trading Day of the Holder’s request pursuant to
this Section 3(d) and (D) a remaining option time equal to the time between the date of the public announcement of the applicable
Fundamental Transaction and the Termination Date and (E) a zero cost of borrow. The payment of the Black Scholes Value will be
made by wire transfer of immediately available funds (or such other consideration) within the later of (i) five Business Days
of the Holder’s election and (ii) the date of consummation of the Fundamental Transaction. The Company shall cause any successor
entity in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”) to assume
in writing all of the obligations of the Company under this Warrant and the other Transaction Documents in accordance with the
provisions of this Section 3(d) pursuant to written agreements in form and substance reasonably satisfactory to the Holder and
approved by the Holder (without unreasonable delay) prior to 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.

 

    	 	10	 

    	 

    

 

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

 

f)
Notice to Holder.

 

i.
Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the
Company shall promptly deliver to the Holder by facsimile or email 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 (or
any of its Subsidiaries) is a party, any sale or transfer of all or substantially all of its assets, 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 delivered by facsimile or email to the Holder at its last facsimile number or email 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 deliver such notice or any defect therein or in the delivery thereof shall not affect the validity of the
corporate action required to be specified in such notice. To the extent that any notice provided in this Warrant constitutes,
or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously
file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this
Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice except
as may otherwise be expressly set forth herein.

 

g)
Voluntary Adjustment By Company. Subject to the rules and regulations of the Trading Market, the Company may at any time
during the term of this Warrant, subject to the prior written consent of the Holder, reduce the then current Exercise Price to
any amount and for any period of time deemed appropriate by the board of directors of the Company.

 

    	 	11	 

    	 

    

 

Section
4. Transfer of Warrant.

 

a)
Transferability. Subject to compliance with any applicable securities laws and the conditions set forth in Section 4(d)
hereof and to the provisions of Section 4.1 of the Purchase Agreement, this Warrant and all rights hereunder (including, without
limitation, any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office
of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached
hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making
of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants
in the name of the assignee or assignees, 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) Trading Days of the date on which the Holder delivers an assignment form to the Company
assigning this Warrant in 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 4(a), as to any transfer which may be involved
in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or
Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated
the Initial Exercise 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 5.7 of the Purchase Agreement.

 

    	 	12	 

    	 

    

 

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.

 

Section
5. Miscellaneous.

 

a)
No Rights as Stockholder Until Exercise; No Settlement in Cash. This Warrant does not entitle the Holder to any voting
rights, dividends or other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i),
except as expressly set forth in Section 3. Without limiting any rights of a Holder to receive Warrant Shares on a “cashless
exercise” pursuant to Section 2(c) or to receive cash payments pursuant to Section 2(d)(i) and Section 2(d)(iv) herein,
in no event shall the Company be required to net cash settle an exercise of this Warrant.

 

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

 

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

 

d)
Authorized Shares.

 

The
Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common
Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights
under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers
who are charged with the duty of 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, or of any requirements of the Trading Market upon which the Common
Stock may be listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights
represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant
Shares in accordance herewith, be duly authorized, validly issued, fully paid and 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).

 

    	 	13	 

    	 

    

 

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

 

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

 

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

 

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

 

g)
Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder
shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting
any other provision of this Warrant or the Purchase Agreement, if the Company willfully and knowingly fails to comply with any
provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts
as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including
those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing
any of its rights, powers or remedies hereunder.

 

    	 	14	 

    	 

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(Signature
Page Follows)

 

    	 	15	 

    	 

    

 

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.

 

	 	ENVERIC
    BIOSCIENCES, INC.
	 	 
	 	By:	              
	 	Name:	 
	 	Title:	 

 

    	 	16	 

    	 

    

 

NOTICE
OF EXERCISE

 

To:
Enveric Biosciences, 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

 

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

 

(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)
	 	 	 
	Phone
    Number:	 	 
	 	 	 
	Email
    Address:	 	 
	 	 	 
	Dated:
    _______________ __, _________________	 	 
	 	 	 
	Holder’s
    Signature:_____________________________	 	 
	 	 	 
	Holder’s
    Address:_____________________________

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00320-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00320-of-00352.parquet"}]]