Document:

Exhibit 10.1

EUROCAN HOLDINGS, LTD.

 

SUBSCRIPTION AGREEMENT

 

The undersigned (hereinafter
“Subscriber”) hereby confirms his/her/its subscription for the purchase of shares (“Shares”)
of common stock, par value $0.0001 per share (“Common Stock”) of Eurocan Holdings, Ltd., a Nevada corporation
(the “Company”), on the terms described below

 

Capitalized terms used
and not otherwise defined herein shall have the meanings set forth for such terms in the Company’s Private Confidential Placement
Memorandum, dated October 31, 2014 (as amended or supplemented, and together with all documents and exhibits thereto, the “Memorandum”).

 

In connection with
this subscription, Subscriber and the Company agree as follows:

 

1.      Purchase and Sale of the Shares.

 

(a)      The Company hereby agrees to
issue and to sell to Subscriber, and Subscriber hereby agrees to purchase from the Company, a number of Shares at a price equal
to $0.40 per Share (the “Share Price”) and for the aggregate subscription amount set forth on the signature
page hereto. Upon acceptance of this Subscription Agreement by the Company, the Company shall issue and deliver to Subscriber a
share certificate evidencing the applicable number of Shares subscribed for against payment in U.S. Dollars of the Purchase Price
(as defined below).

 

 

(b)      Subscriber has hereby delivered
and paid concurrently herewith the aggregate purchase price (the “Purchase Price”) set forth on the signature
page hereof required to purchase the Shares subscribed for hereunder which amount has been paid in U.S. Dollars by cash, wire transfer
or check, subject to collection, to the order of “Indeglia & Carney, LLP as Escrow Agent for Eurocan Holdings, Ltd.”

 

(c)      Subscriber understands and acknowledges
that this subscription is part of a proposed placement by the Company of up to 5,625,000 Shares, which offering is being made on
a “best efforts” basis (the “Offering”). During the Offering Period, funds will be held in an escrow
account established by the Company and released at the discretion of the Company from time to time. If a subscription is not accepted,
whether in whole or in part, the subscription funds held therein will be returned to the investor without interest or deduction.

 

2.      Covenants,
Representations and Warranties of Subscriber. Subscriber covenants with, and represents and warrants to, the Company as follows:

 

(a)      The Master Confidential Purchaser
Questionnaire has been completed, signed and delivered to the Company by the Subscriber and is, as of the date hereof, true, complete,
and correct in all respects.

 

    	B-1

    	 

    

 

(b)      Subscriber is
an “accredited investor” as defined by Rule 501 of Regulation D under the Securities Act of 1933, as amended (the “Act”),
and Subscriber is capable of evaluating the merits and risks of Subscriber’s investment in the Company and has the capacity
to protect Subscriber’s own interests.

 

(c)      Subscriber understands that
the Shares are not presently registered, but Subscriber is entitled to certain rights with respect to the registration of the Shares
(see Section 5 below).

 

(d)      Subscriber acknowledges and
understands that the Shares are being purchased for investment purposes and not with a view to distribution or resale, nor with
the intention of selling, transferring or otherwise disposing of all or any part thereof for any particular price, or at any particular
time, or upon the happening of any particular event or circumstances, except selling, transferring, or disposing of the Shares
made in full compliance with all applicable provisions of the Act, the rules and regulations promulgated by the Securities and
Exchange Commission (“SEC”) thereunder, and applicable state securities laws; and that an investment in the
Securities is not a liquid investment.

 

(e)      Subscriber acknowledges the
Shares must be held indefinitely unless subsequently registered under the Act or unless an exemption from such registration is
available. Subscriber is aware of the provisions of Rule 144 promulgated under the Act which permit limited resale of common stock
purchased in a private placement subject to the satisfaction of certain conditions, including, among other things, the existence
of a public market for the common stock, the availability of certain current public information about the Company, the resale occurring
not less than six-months after a party has purchased and paid for the security to be sold.

 

(f)       Subscriber acknowledges that
Subscriber has had the opportunity to ask questions of, and receive answers from the Company or any person acting on its behalf
concerning the Company and its business and to obtain any additional information, to the extent possessed by the Company (or to
the extent it could have been acquired by the Company without unreasonable effort or expense) necessary to verify the accuracy
of the information received by Subscriber. In connection therewith, Subscriber acknowledges that Subscriber has had the opportunity
to discuss the Company’s business, management and financial affairs with the Company’s management or any person acting
on its behalf. Subscriber has received and reviewed the Memorandum, and all the information, both written and oral, that it desires.
Without limiting the generality of the foregoing, Subscriber has been furnished with or has had the opportunity to acquire, and
to review: (i) copies of all of the Company’s publicly available documents, and (ii) all information, both written and oral,
it desires with respect to the Company’s business, management, financial affairs and prospects. In determining whether to
make this investment, Subscriber has relied solely on Subscriber’s own knowledge and understanding of the Company and its
business based upon Subscriber’s own due diligence investigations and the information furnished pursuant to this paragraph.
Subscriber understands that no person has been authorized to give any information or to make any representations which were not
furnished pursuant to this paragraph and Subscriber has not relied on any other representations or information.

 

    	B-2

    	 

    

 

 

(g)      Subscriber has all requisite
legal and other power and authority to execute and deliver this Subscription Agreement and to carry out and perform Subscriber’s
obligations under the terms of this Subscription Agreement. This Subscription Agreement constitutes a valid and legally binding
obligation of Subscriber, enforceable in accordance with its terms, and subject to laws of general application relating to bankruptcy,
insolvency and the relief of debtors and rules of law governing specific performance, injunctive relief or other general principals
of equity, whether such enforcement is considered in a proceeding in equity or law.

 

(h)      Subscriber has carefully considered
and has discussed with the Subscriber’s professional legal, tax, accounting and financial advisors, to the extent Subscriber
has deemed necessary, the suitability of this investment and the transactions contemplated by this Subscription Agreement for the
Subscriber’s particular federal, state, local and foreign tax and financial situation and has determined that this investment
and the transactions contemplated by this Subscription Agreement are a suitable investment for the Subscriber. Subscriber relies
solely on such advisors and not on any statements or representations of the Company or any of its agents. Subscriber understands
that Subscriber (and not the Company) shall be responsible for Subscriber’s own tax liabilities which may arise as a result
of this investment or the transactions contemplated by this Subscription Agreement.

 

 (i)       Neither this Subscription Agreement
nor the Master Confidential Purchaser Questionnaire contain any untrue statement of a material fact or omit any material fact concerning
Subscriber.

 

 (j)       There are no actions, suits,
proceedings or investigations pending against Subscriber or Subscriber’s properties before any court or governmental agency
(nor, to Subscriber’s knowledge, is there any threat thereof) which would impair in any way Subscriber’s ability to
enter into and fully perform Subscriber’s commitments and obligations under this Subscription Agreement or the transactions
contemplated hereby.

 

 (k)      The execution, delivery and
performance of and compliance with this Subscription Agreement and the issuance of the Shares will not result in any material violation
of, or conflict with, or constitute a material default under, any of Subscriber’s articles of incorporation or bylaws or
other governing documents, if applicable, or any of Subscriber’s material agreements nor result in the creation of any mortgage,
pledge, lien, encumbrance or charge against any of the assets or properties of Subscriber or the Shares.

 

 (l)      
 Subscriber acknowledges the Shares are speculative and involve a high degree of risk and that Subscriber can bear the
economic risk of the purchase of the Shares, including a total loss of his/her/its investment.

 

  (m)       Subscriber acknowledges
he/she/it has carefully reviewed and considered the risk factors discussed in the “Risk Factors” section of the Memorandum
prior to making an investment decision.

 

    	B-3

    	 

    

 

 

 (n)       Subscriber recognizes that no
federal, state or foreign agency has recommended or endorsed the purchase of the Shares.

 

 (o)       Subscriber is aware the Shares
are and will be, when issued, “restricted securities” as that term is defined in Rule 144 of the general rules and
regulations under the Act.

 

 (p)       Subscriber understands any and
all certificates representing the Shares and any and all securities issued in replacement thereof or in exchange therefore shall
bear the following legend or one substantially similar thereto, which Subscriber has read and understands:

 

“THE SECURITIES REPRESENTED HEREBY
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES
NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL
FOR THIS CORPORATION, IS AVAILABLE.”

 

    (q)      Because of the restrictions
imposed on resale, Subscriber understands the Company shall have the right to note stop-transfer instructions in its stock transfer
records, and Subscriber has been informed of the Company’s intention to do so. Any sales, transfers, or any other dispositions
of the Securities by Subscriber, if any, will be in compliance with the Act.

 

    (r)      Subscriber acknowledges that
Subscriber has such knowledge and experience in financial and business matters that he/she/it is capable of evaluating the merits
and risks of an investment in the Securities and of making an informed investment decision.

 

    (s)      Subscriber represents: (i) Subscriber
is able to bear the economic risks of an investment in the Shares and to afford the complete loss of the investment, and (ii) (A)
Subscriber could be reasonably assumed to have the capacity to protect his/her/its own interests in connection with this subscription;
or (B) Subscriber has a pre-existing personal or business relationship with either the Company or any affiliate thereof of such
duration and nature as would enable a reasonably prudent purchaser to be aware of the character, business acumen and general business
and financial circumstances of the Company or such affiliate and is otherwise personally qualified to evaluate and assess the risks,
nature and other aspects of this subscription.

 

      (t)      Subscriber further represents
the address set forth in the Master Confidential Purchaser Questionnaire is his/her principal residence (or, if Subscriber is a
company, partnership or other entity, the address of its principal place of business); that Subscriber is purchasing the Shares
for Subscriber’s own account and not, in whole or in part, for the account of any other person; Subscriber is purchasing
the Shares for investment and not with a view to resale or distribution; and Subscriber has not formed any entity for the purpose
of purchasing the Shares.

 

    	B-4

    	 

    

 

 

     (u)      Subscriber understands the Company
shall have the unconditional right to accept or reject each subscription, in whole or in part, for any reason or without a specific
reason, in the sole and absolute discretion of the Company (even after receipt and clearance of Subscriber’s funds). No subscription
will be binding upon the Company until accepted by an authorized officer of the Company. In the event the subscription is rejected,
Subscriber’s subscription funds will be returned without interest thereon or deduction therefrom.

 

    (v)      Subscriber has not been furnished
with any oral representation or oral information in connection with the offering of the Shares that is not contained in the Memorandum
and this Subscription Agreement.

 

    (w)      Subscriber represents that Subscriber
is not subscribing for Shares as a result of or subsequent to any advertisement, article, notice or other communication published
in any newspaper, magazine or similar media or broadcast over the Internet, television or radio or presented at any seminar or
meeting.

 

     (x)       Subscriber has carefully read
this Subscription Agreement, the Registration Rights Agreement and the Memorandum, and Subscriber has accurately completed the
Master Confidential Purchaser Questionnaire which accompanies this Subscription Agreement.

 

     (y)      No representations or warranties
have been made to Subscriber by the Company, or any officer, employee, agent, affiliate or subsidiary of the Company, other than
the representations of the Company contained herein, and in subscribing for the Shares, Subscriber is not relying upon any representations
other than those contained in the Memorandum or in this Subscription Agreement.

 

     (z)      Subscriber represents and warrants,
to the best of its knowledge, no finder, broker, agent, financial advisor or other intermediary, nor any purchaser representative
or any broker-dealer acting as a broker, is entitled to any compensation in connection with the transactions contemplated by this
Subscription Agreement.

 

      (aa)    Subscriber represents and warrants
that Subscriber: (i) has not distributed or reproduced the Memorandum, in whole or in part, at any time, without the prior written
consent of the Company; and (ii) for three (3) years from the date hereof will keep confidential the existence of the Memorandum
and the information contained therein or made available in connection with any further investigation of the Company and not use
the information about the Company for any other purpose.

 

     (bb)     If Subscriber is a trust, this
investment, together with all other securities of the Company held by the trust, does not exceed 10% of the trust assets.

 

    	B-5

    	 

    

 

 

3.          Covenants,
Representations and Warranties of the Company. The Company covenants with, and represents and warrants to, Subscriber as follows:

 

     (a)      The Company is duly organized
and validly exists as a corporation in good standing under the laws of the State of Nevada.

 

             (b)      The Company has all such corporate
power and authority to enter into, deliver and perform this Subscription Agreement.

 

     (c)       All necessary corporate action
has been duly and validly taken by the Company to authorize the execution, delivery and performance of this Subscription Agreement
by the Company, and the issuance and sale of the Shares to be sold by the Company pursuant to this Subscription Agreement. This
Subscription Agreement has been duly and validly authorized, executed and delivered by the Company and constitutes the legal, valid
and binding obligation of the Company enforceable against the Company in accordance with its terms, except as the enforceability
thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of
creditors’ rights generally and by general equitable principles.

 

     (d)      The Memorandum and/or information
provided by the Company to the undersigned hereof does not and shall not contain any untrue statement of a material fact or omit
to state any material fact required to be stated therein or necessary to make the statements therein in light of circumstances
made therein not misleading.

 

      (e)       The Shares to be issued and
sold to the undersigned as provided in the Memorandum and in this Subscription Agreement have been duly authorized and when issued
and delivered against payment therefor, will be validly issued, fully paid and non-assessable and will conform to the description
thereof in the Memorandum.

 

4.          Indemnification. Subscriber
agrees to indemnify and hold harmless the Company, and its respective officers, directors, employees, shareholders, agents representatives
and affiliates, and any person acting on behalf of the Company, from and against any and all damage, loss, liability, cost and
expense (including reasonable attorneys’ fees) which any of them may incur by reason of the failure by Subscriber to fulfill
any of the terms and conditions of this Subscription Agreement, or by reason of any breach of the representations and warranties
made by Subscriber herein, or in any other document provided by Subscriber to the Company. All representations, warranties and
covenants of each of Subscriber and the Company contained herein shall survive the acceptance of this subscription.

 

5.            Registration
Rights Granted to Subscriber. In consideration of the investment in the Company described in this Agreement and the Memorandum,
the Company hereby grants to the Subscriber the registration rights set forth on Exhibit B of the Memorandum.

 

6.           Patriot Act Compliance. (Terms
used in this section are defined in paragraph (d) below.)

 

    	B-6

    	 

    

 

 

To induce the Company
to accept the undersigned’s investment, the undersigned hereby makes the following representations, warranties and covenants
to the Company:

 

(a)           The undersigned represents and warrants that no holder of any beneficial interest in the undersigned’s equity securities
of the Company (each a “Beneficial Interest Holder”) and, no Related Person (in the case the undersigned is
an entity) is or will be:

 

		(1)	A person or entity whose name appears on the list of specially designated nationals and blocked
persons maintained by the Office of Foreign Asset Control from time to time;

 

		(2)	A Foreign Shell Bank; or

 

		(3)	A person or entity resident in or whose subscription funds are transferred from or through an account
in a Non-Cooperative Jurisdiction.

 

(b)           The undersigned represents that the bank or other financial institution (the “Wiring Institution”) from
which the undersigned’s funds will be wired is located in a FATF Country.

 

(c)            The
undersigned represents that:

 

		(1)	Neither it, any Beneficial Interest Holder nor any Related Person (in the case of the undersigned
is an entity) is a Senior Foreign Political Figure, any member of a Senior Foreign Political Figure’s Immediate Family or
any Close Associate of a Senior Foreign Political Figure;

 

		(2)	Neither it, any Beneficial Interest Holder nor any Related Person (in the case the undersigned
is an entity) is resident in, or organized or chartered under the laws of, a jurisdiction designated by the Secretary of the Treasury
under Section 311 or 312 of the USA PATRIOT Act as warranting special measures due to money laundering concerns; and

 

		(3)	Its investment funds do not originate from, nor will they be routed through, an account maintained
at a Foreign Shell Bank, an “offshore bank,” or a bank organized or chartered under the laws of a Non-Cooperative Jurisdiction.

 

(d)          Definitions:

 

Close Associate:
With respect to a Senior Foreign Political Figure, a person who is widely and publicly known internationally to maintain an unusually
close relationship with the Senior Foreign Political Figure, and includes a person who is in a position to conduct substantial
domestic and international financial transactions on behalf of the Senior Foreign Political Figure.

 

FATF: The Financial
Action Task Force on Money Laundering.

 

    	B-7

    	 

    

 

 

FATF Country:
A country that is a member of FATF. As of September 1, 2003, the countries which are members of FATF are: Argentina; Australia;
Austria; Belgium; Brazil; Canada; Denmark; Finland; France; Germany; Greece; Hong Kong; Iceland; Ireland; Italy; Japan; Luxembourg;
Mexico; Kingdom of the Netherlands; New Zealand; Norway; Portugal; Singapore; South Africa; Spain; Sweden; Switzerland; Turkey;
United Kingdom and United States. For a current list of FATF members see http://www1.oecd.org/fatf/Members_en.htm.

 

Foreign Bank:
An organization which (i) is organized under the laws of a country outside the United States; (ii) engages in the business of banking;
(iii) is recognized as a bank by the bank supervisory or monetary authority of the country of its organization or principal banking
operations; (iv) receives deposits to a substantial extent in the regular course of its business; and (v) has the power to accept
demand deposits, but does not include the U.S. branches or agencies of a foreign bank.

 

Foreign Shell Bank:
A Foreign Bank without a Physical Presence in any country, but does not include a Regulated Affiliate.

 

Government Entity:
Any government or any state, department or other political subdivision thereof, or any governmental body, agency, authority or
instrumentality in any jurisdiction exercising executive, legislative, regulatory or administrative functions of or pertaining
to government.

 

Immediate Family:
With respect to a Senior Foreign Political Figure, typically includes the political figure’s parents, siblings, spouse, children
and in-laws.

 

Non-Cooperative Jurisdiction:
Any foreign country or territory that has been designated as non-cooperative with international anti-money laundering principles
or procedures by an intergovernmental group or organization, such as FATF, of which the United States is a member and with which
designation the United States representative to the group or organization continues to concur. See http://www1.oecd.org/fatf/NCCT_en.htm
for FATF’s list of non-cooperative countries and territories.

 

Physical Presence:
A place of business maintained by a Foreign Bank and is located at a fixed address, other than solely a post office box or an electronic
address, in a country in which the Foreign Bank is authorized to conduct banking activities, at which location the Foreign Bank:
(a) employs one or more individuals on a full-time basis; (b) maintains operating records related to its banking activities; and
(c) is subject to inspection by the banking authority that licensed the Foreign Bank to conduct banking activities.

 

Publicly Traded Company:
An entity whose securities are listed on a recognized securities exchange or quoted on an automated quotation system in the U.S.
or country other than a Non-Cooperative Jurisdiction or a wholly-owned subsidiary of such an entity.

 

Qualified Plan:
A tax qualified pension or retirement plan in which at least 100 employees participate that is maintained by an employer organized
in the U.S. or is a U.S. Government Entity.

 

    	B-8

    	 

    

 

Regulated Affiliate:
A Foreign Shell Bank that: (a) is an affiliate of a depository institution, credit union or Foreign Bank that maintains a Physical
Presence in the U.S. or a foreign country, as applicable; and (b) is subject to supervision by a banking authority in the country
regulating such affiliated depository institution, credit union or Foreign Bank.

 

Related Person:
With respect to any entity, any interest holder, director, senior officer, trustee, beneficiary or grantor of such entity; provided
that in the case of an entity that is a Publicly Traded Company or a Qualified Plan, the term “Related Person” shall
exclude any interest holder holding less than 5% of any class of securities of such Publicly Traded Company and beneficiaries of
such Qualified Plan.

 

Senior Foreign Political
Figure: A senior official in the executive, legislative, administrative, military or judicial branches of a non-U.S. government
(whether elected or not), a senior official of a major non-U.S. political party, or a senior executive of a non-U.S. government-owned
corporation. In addition, a Senior Foreign Political Figure includes any corporation, business or other entity that has been formed
by, or for the benefit of, a Senior Foreign Political Figure.

 

USA PATRIOT Act:
The Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT
Act) Act of 2001 (Pub. L. No. 107-56).

 

 

8.           Independent Nature of Investor’s
Obligations and Rights. The obligations of the Subscriber under this Agreement and any other documents delivered in connection
herewith and therewith (collectively, the “Transaction Documents”) are several and not joint with the obligations of
any other purchaser of Shares, and the Subscriber is not responsible in any way for the performance of the obligations of any other
purchaser of Shares under any Transaction Document. The decision of the Subscriber to purchase Shares pursuant to the Transaction
Documents has been made by the Subscriber independently of any other purchaser of Shares. Nothing contained herein or in any Transaction
Document, and no action taken by any purchaser of Shares pursuant thereto, shall be deemed to constitute such purchasers as a partnership,
an association, a joint venture, or any other kind of entity, or create a presumption that the purchasers of Shares are in any
way acting in concert or as a group with respect to such obligations or the transactions contemplated by the Transaction Documents.
The Subscriber acknowledges that no other purchaser of Shares has acted as agent for the Subscriber in connection with making its
investment hereunder and that no other purchaser of Shares will be acting as agent of the Subscriber in connection with monitoring
its investment in the Shares or enforcing its rights under the Transaction Documents. The Subscriber shall be entitled to independently
protect and enforce its rights, including without limitation the rights arising out of this Agreement or out of the other Transaction
Documents, and it shall not be necessary for any other purchaser of Shares to be joined as an additional party in any proceeding
for such purpose.

 

9.           Miscellaneous.

 

    	B-9

    	 

    

 

     (a)        Subscriber agrees not to transfer
or assign this Subscription Agreement or any of Subscriber’s interest herein and further agrees that the transfer or assignment
of the Shares acquired pursuant hereto shall be made only in accordance with all applicable laws.

 

     (b)        Subscriber agrees that Subscriber
cannot cancel, terminate or revoke this Subscription Agreement or any agreement of Subscriber made hereunder, and this Subscription
Agreement shall survive the death or legal disability of Subscriber and shall be binding upon Subscriber’s heirs, executors,
administrators, successors and permitted assigns.

 

      (c)         Subscriber has read and accurately
completed this entire Subscription Agreement and Memorandum.

 

      (d)        This Subscription Agreement
constitutes the entire agreement among the parties hereto with respect to the subject matter hereof and may be amended only by
a written execution by all parties.

 

      (f)         Subscriber acknowledges it has
been advised to consult with his/her/its own attorney regarding this subscription and Subscriber has done so to the extent that
Subscriber deems appropriate. Subscriber understands and agrees that Subscriber has not been represented in this transaction by
counsel to the Company.

 

      (g)        Any notice or other document
required or permitted to be given or delivered to the Subscriber shall be in writing and sent: (i) by registered or certified mail
with return receipt requested (postage prepaid) or (ii) by a recognized overnight delivery service (with charges prepaid).

 

If to the Company, at:

 

Eurocan Holdings Ltd.

1805 SE Martin Luther King Jr Blvd.

Portland, Oregon 97214

Attn.: Chief
Executive Officer

 

If to the
Subscriber, at its address set forth on the signature page to this Subscription Agreement, or such other address as it shall have
specified to the Company in writing.

 

 (h)        Failure of the
Company to exercise any right or remedy under this Subscription Agreement or any other agreement between the Company and the Subscriber,
or otherwise, or delay by the Company in exercising such right or remedy, will not operate as a waiver thereof. No waiver by the
Company will be effective unless and until it is in writing and signed by the Company.

 

  (i)        This Subscription
Agreement shall be enforced, governed and construed in all respects in accordance with the laws of the State of Nevada, as such
laws are applied by the Nevada courts except with respect to the conflicts of law provisions thereof, and shall be binding upon
the Subscriber, the Subscriber’s heirs, estate, legal representatives, successors and assigns and shall inure to the benefit
of the Company, its successors and assigns.

 

    	B-10

    	 

    

 

 

   (j)        Any legal suit,
action or proceeding arising out of or relating to this Subscription Agreement or the transactions contemplated hereby shall be
instituted exclusively in state or federal courts located in [City of Portland, State of Oregon] (the “Oregon Courts”).
The parties hereto hereby: (i) waive any objection which they may now have or hereafter have to the venue of any such suit, action
or proceeding, and (ii) irrevocably consent to the jurisdiction of the applicable Oregon Court in any such suit, action or proceeding.
The parties further agree to accept and acknowledge service of any and all process which may be served in any such suit, action
or proceeding in the New York Courts and agree that service of process upon a party mailed by certified mail to such party’s
address shall be deemed in every respect effective service of process upon such party in any such suit, action or proceeding.

 

   (k)        If any provision
of this Subscription Agreement is held to be invalid or unenforceable under any applicable statute or rule of law, then such provision
shall be deemed modified to conform to such statute or rule of law. Any provision hereof that may prove invalid or unenforceable
under any law shall not affect the validity or enforceability of any other provisions hereof.

 

    (l)         The parties
understand and agree money damages would not be a sufficient remedy for any breach of the Subscription Agreement by the Company
or the Subscriber and that the party against which such breach is committed shall be entitled to equitable relief, including injunction
and specific performance, as a remedy for any such breach. Such remedies shall not be deemed to be the exclusive remedies for a
breach by either party of the Subscription Agreement but shall be in addition to all other remedies available at law or equity
to the party against which such breach is committed.

 

   (m)        All pronouns
and any variations thereof used herein shall be deemed to refer to the masculine, feminine, singular or plural, as identity of
the person or persons may require.

 

                  (n)        This Subscription Agreement
may be executed in counterparts and by facsimile, each of which shall be deemed an original, but all of which shall constitute
one and the same instrument.

 

 

 

[Signature Pages Follow]

 

    	B-11

    	 

    

 

Signature Page for Individuals:

 

IN WITNESS WHEREOF,
Subscriber has caused this Subscription Agreement to be executed as of the date indicated below.

 

	$	
        ($0.40per Share)
	 	
         

        

	 	
        Purchase Price

         
	 	Number of Shares
	 		 	
	 	
        Print or Type Name

         
	 	
        Print or Type Name (Joint-owner)

         

	 		 	
	 	
        Signature

         
	 	
        Signature (Joint-owner)

         

	 		 	
	 	
        Date

         
	 	
        Date (Joint-owner)

         

	 		 	
	 	
        IRS Taxpayer Identification Number

         
	 	
        IRS Taxpayer Identification Number (Joint-owner)

         

	 		 	
	 	Address	 	Address (Joint-owner)
	 		 	
	 	Telephone Number	 	Telephone Number
	 		 	
	 	Fax Number	 	Fax Number
	 		 	
	 	E-mail Address	 	E-mail Address

 

 

Type of Ownership

 

⁭☐      Individual

⁭☐     Tenants
in common

⁭☐     Joint
tenants with right of survivorship

⁭☐
     Community property (check only if resident of community property state)

⁭☐     Other (please specify:____________________)

 

Wiring Instructions:

 

	Bank Name:	 	California Bank & Trust – Irvine Center Branch
	ABA #:	 	121002042
	SWIFT:	 	CALBUS66
	Tel Number:	 	(949) 223-7500

 

	Address:	 	
        1900 Main Street, Suite 100

        Irvine, CA 92614

	Acct #:	 	 #30-904680-31
	Acct. Name:	 	Indeglia & Carney LLP Attorney Client Trust Fund, as escrow agent for Eurocan Holdings
	Reference:	 	Eurocan Holdings, Ltd.

 

 

    	B-12

    	 

    

 

Partnerships, Corporations or Other
Entities:

 

IN WITNESS WHEREOF,
Subscriber has caused this Subscription Agreement to be executed as of the date indicated below.

 

	$	
        ($0.40per Share)
	 	
         

        

	 	
        Total Purchase Price

         
	 	Number of Shares

 

__________________________________________________________________________

Print or Type Name of Entity

__________________________________________________________________________

Address

 

__________________________________________________________________________

Telephone Number

 

__________________________________________________________________________

Fax Number

 

__________________________________________________________________________

Email Address

 

 

	
        
	 	
         

        

	
        Taxpayer I.D. No. (if applicable) 
         
	 	Date

 

	
        
BY: 	 	
         

        

	
        Signature: Name

                           Title:

         
	 	Print or Type Name and Indicate

Title or Position with Entity

 

	
        
	 	
         

        

	
        Signature (other authorized signatory)

         
	 	Print or Type Name and Indicate

Title or Position with Entity

 

Type of Ownership

 

⁭☐      Individual

⁭☐     Tenants
in common

⁭☐     Joint
tenants with right of survivorship

⁭☐
     Community property (check only if resident of community property state)

⁭☐     Other (please specify:____________________)

 

    	B-13

    	 

    

 

All subscriptions from partnerships,
corporations, trusts or limited liability companies must be accompanied by resolutions of the appropriate corporate authority (board
of directors, trustee or managing partner or members, as applicable) and trust documents evidencing the authorization and power
to make the subscription.

 

Wiring Instructions:

 

	Bank Name:	 	
	ABA #:	 	
	SWIFT:	 	
	Tel Number:	 	
	Address:	 	
        

	Acct #:	 	 
	Acct. Name:	 	
	Reference:	 	

 

 

    	B-14

    	 

    

 

 

SUBSCRIPTION ACCEPTANCE BY EUROCAN HOLDINGS,
LTD.

 

 

IN WITNESS WHEREOF,
the Company has caused this Subscription Agreement to be executed, and the foregoing subscription accepted, as of the date indicated
below.

 

	 	Eurocan Holdings, Ltd.
	 	 
	 	By: 	
	 	 	Name: 

	 	 	Title: 

 

 

 

Date: _______________________, 2014

 

B-15Exhibit
10.2

 

REGISTRATION
RIGHTS AGREEMENT

 

This Registration Rights
Agreement (this “Agreement”) is made and entered into as of ____________ __, 2014, among Eurocan Holdings, Ltd.,
a Nevada corporation (the “Company”), and the several purchasers signatory hereto (each such purchaser, a “Purchaser”
and collectively, the “Purchasers”).

 

This Agreement is made
pursuant to those certain Subscription Agreements, dated as of the date hereof, between the Company and each Purchaser (the “Subscription
Agreement”) and described in that certain Confidential Private Placement Memorandum, dated October 31, 2014.

 

The Company and each Purchaser hereby agrees
as follows:

 

1.                 
Definitions. Capitalized terms used and not otherwise defined herein that are defined in the Subscription Agreement
shall have the meanings given such terms in the Subscription Agreement. As used in this Agreement, the following terms shall have
the following meanings:

 

“Advice”
shall have the meaning set forth in Section 6(d).

 

“Commission”
means the Securities and Exchange Commission.

 

“Effectiveness
Period” shall have the meaning set forth in Section 2(a).

 

“Effective
Date” means the date that the initial Registration Statement filed by the Company hereunder is first declared effective
by the Commission.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

“Filing
Date” means, with respect to the initial Registration Statement required to be filed hereunder, the 45th calendar
day following the Final Closing Date (as defined in the Memorandum).

 

“Holder”
or “Holders” means the holder or holders, as the case may be, from time to time of Registrable Securities; provided,
however, that with respect to Section 2(b) and (c), the term Holder means only those Holders who acquired Registrable Securities
pursuant to a Subscription Agreement.

 

“Indemnified
Party” shall have the meaning set forth in Section 5(c).

 

“Indemnifying
Party” shall have the meaning set forth in Section 5(c).

 

“Losses”
shall have the meaning set forth in Section 5(a).

 

    	1

    	 

    

 

 

“Prospectus”
means the prospectus included in a Registration Statement (including, without limitation, a prospectus that includes any information
previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated
under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of
any portion of the Registrable Securities covered by a Registration Statement, and all other amendments and supplements to the
Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference
in such Prospectus.

 

“Registrable
Securities” means all of (i) the Shares and (ii) any shares of Common Stock issued or issuable upon any stock split,
dividend or other distribution, recapitalization or similar event with respect to the foregoing.

 

“Registration
Statement” means the registration statements required to be filed hereunder, including the Prospectus, amendments and
supplements to such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto, and
all material incorporated by reference or deemed to be incorporated by reference in such registration statement.

 

“Rule
415” means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect
as such Rule.

 

“Rule
424” means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect
as such Rule.

 

“Securities
Act” means the Securities Act of 1933, as amended.

 

“Selling
Shareholder Questionnaire” shall have the meaning set forth in Section 3(a).

 

“Subscription
Amount” means, as to each Holder, the aggregate amount to be paid for Shares set forth on the signature page to the Subscription
Agreement above the heading “Total Purchase Price”, in U.S. Dollars and in immediately available funds.

 

“Trading
Day” means a day on which the Common Stock is traded on a Trading Market.

 

“Trading
Market” means the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date
in question: the Nasdaq Capital Market, the American Stock Exchange, the New York Stock Exchange, the Nasdaq Global Market, the
Nasdaq Global Select Market, the OTC Bulletin Board or the OTC Markets.

 

    	2

    	 

    

 

 

2.          
Shelf Registration. On or prior to each Filing Date, the Company shall prepare and file with the Commission a “Shelf”
Registration Statement covering the resale of the Registrable Securities on such Filing Date for an offering to be made on a continuous
basis pursuant to Rule 415. The Registration Statement shall be on Form S-3 (except if the Company is not then eligible to register
for resale the Registrable Securities on Form S-3, in which case such registration shall be on Form S-1, or if the Company is not
then eligible to register for resale the Registrable Securities on Form S-1 another appropriate form in accordance herewith). Subject
to the terms of this Agreement, the Company shall use its commercially reasonable efforts to cause a Registration Statement to
be declared effective under the Securities Act as promptly as possible after the filing thereof, and shall use its best efforts
to keep such Registration Statement effective (subject to any Allowed Delay under Section 3(j) hereof) under the Securities Act
until all Registrable Securities covered by such Registration Statement have been sold, or may be sold without volume restrictions
pursuant to Rule 144(k), as determined by the counsel to the Company pursuant to a written opinion letter to such effect, addressed
and acceptable to the Company’s transfer agent and the affected Holders (the “Effectiveness Period”);
provided, however, the Company may delete from the Registration Statement any securities that may be sold without volume restrictions
pursuant to Rule 144 as provided above. The Company shall request acceleration of effectiveness of the Registration Statement no
later than two business days after notice from the Commission that the Registration Statement has been cleared of all comments.
The Company shall notify the Holders promptly after the Company receives notification of the effectiveness of a Registration Statement;
however, not later than forty-eight hours after the Company confirms effectiveness with the Commission. The Company shall on the
Trading Day after the Effective Date, file a final Prospectus with the Commission as required by Rule 424. Notwithstanding anything
herein to the contrary, the amount of Registrable Securities required to be included in the initial Registration Statement shall
be limited to not less than 100% of the maximum amount (“Rule 415 Amount”) of Common Stock which may be included
in a single Registration Statement without exceeding registration limitations imposed by the Commission pursuant to Rule 415 of
the Securities Act.

 

3.             Registration Procedures

 

In connection with the
Company’s registration obligations hereunder, the Company shall:

 

(a)               
Not less than five days prior to the filing of the Registration Statement and not less than one day prior to the filing
of any related Prospectus or any amendment or supplement thereto (including any document that would be incorporated or deemed to
be incorporated therein by reference), the Company shall, (i) furnish to each Holder copies of all such documents proposed to be
filed, which documents (other than those incorporated or deemed to be incorporated by reference) will be subject to the review
of such Holders, and (ii) cause its officers and directors, counsel and independent certified public accountants to respond to
such inquiries as shall be necessary, in the reasonable opinion of respective counsel to each Holder, to conduct a reasonable investigation
within the meaning of the Securities Act. The Company shall not file a Registration Statement or any such Prospectus or any amendments
or supplements thereto to which the Holders of a majority of the Registrable Securities shall reasonably object in good faith,
provided that, the Company is notified of such objection in writing no later than five days after the Holders have been so furnished
copies of a Registration Statement or one day after the Holders have been so furnished copies of any related Prospectus or amendments
or supplements thereto. Each Holder agrees to furnish to the Company a completed questionnaire in the form attached to this Agreement
as Annex A (a “Selling Shareholder Questionnaire”) not less than two days prior to the Filing Date or
by the end of the fourth day following the date on which such Holder receives draft materials in accordance with this Section.

 

    	3

    	 

    

 

 

(b)              
(i) Prepare and file with the Commission such amendments, including post-effective amendments, to a Registration Statement
and the Prospectus used in connection therewith as may be necessary to keep a Registration Statement effective as to the applicable
Registrable Securities for the Effectiveness Period and prepare and file with the Commission such additional Registration Statements
in order to register for resale under the Securities Act all of the Registrable Securities; (ii) cause the related Prospectus to
be amended or supplemented by any required Prospectus supplement (subject to the terms of this Agreement), and as so supplemented
or amended to be filed pursuant to Rule 424; (iii) respond as promptly as reasonably possible to any comments received from the
Commission with respect to a Registration Statement or any amendment thereto and provide as promptly as reasonably possible to
the Holders true and complete copies of all correspondence from and to the Commission relating to a Registration Statement (provided
that the Company may excise any information contained therein which would constitute material non-public information as to any
Holder which has not executed a confidentiality agreement with the Company); and (iv) comply in all material respects with the
provisions of the Securities Act and the Exchange Act with respect to the disposition of all Registrable Securities covered by
a Registration Statement during the applicable period in accordance (subject to the terms of this Agreement) with the intended
methods of disposition by the Holders thereof set forth in such Registration Statement as so amended or in such Prospectus as so
supplemented.

 

(c)               
Notify the Holders of Registrable Securities to be sold (which notice shall, pursuant to clauses (iii) through (vi) hereof,
be accompanied by an instruction to suspend the use of the Prospectus until the requisite changes have been made) as promptly as
reasonably possible (and, in the case of (i)(A) below, not less than one Trading Day prior to such filing) and (if requested by
any such Person) confirm such notice in writing no later than one Trading Day following the day (i)(A) when a Prospectus or any
Prospectus supplement or post-effective amendment to a Registration Statement is proposed to be filed; (B) when the Commission
notifies the Company whether there will be a “review” of such Registration Statement and whenever the Commission comments
in writing on such Registration Statement; and (C) with respect to a Registration Statement or any post-effective amendment, when
the same has become effective; (ii) of any request by the Commission or any other Federal or state governmental authority for amendments
or supplements to a Registration Statement or Prospectus or for additional information; (iii) of the issuance by the Commission
or any other federal or state governmental authority of any stop order suspending the effectiveness of a Registration Statement
covering any or all of the Registrable Securities or the initiation of any Proceedings for that purpose; (iv) of the receipt by
the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the
Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding for such purpose; (v) of
the occurrence of any event or passage of time that makes the financial statements included in a Registration Statement ineligible
for inclusion therein or any statement made in a Registration Statement or Prospectus or any document incorporated or deemed to
be incorporated therein by reference untrue in any material respect or that requires any revisions to a Registration Statement,
Prospectus or other documents so that, in the case of a Registration Statement or the Prospectus, as the case may be, it will not
contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to
make the statements therein, in light of the circumstances under which they were made, not misleading; and (vi) the occurrence
or existence of any pending corporate development with respect to the Company that the Company believes may be material and that,
in the determination of the Company, makes it not in the best interest of the Company to allow continued availability of a Registration
Statement or Prospectus, provided that any and all of such information shall remain confidential to each Holder until such information
otherwise becomes public, unless disclosure by a Holder is required by law; provided, further, notwithstanding each
Holder’s agreement to keep such information confidential, the Holders make no acknowledgement that any such information is
material, non-public information.

 

    	4

    	 

    

 

 

(d)              
Use commercially reasonable efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any order suspending
the effectiveness of a Registration Statement, or (ii) any suspension of the qualification (or exemption from qualification) of
any of the Registrable Securities for sale in any jurisdiction, at the earliest practicable moment.

 

(e)               
Furnish, or make available, to each Holder, without charge, at least one conformed copy of each such Registration Statement
and each amendment thereto, including financial statements and schedules, all documents incorporated or deemed to be incorporated
therein by reference to the extent requested by such Person, and all exhibits to the extent requested by such Person (including
those previously furnished or incorporated by reference) promptly after the filing of such documents with the Commission.

 

(f)               
Subject to the terms of this Agreement, the Company hereby consents to the use of such Prospectus and each amendment or
supplement thereto by each of the selling Holders in connection with the offering and sale of the Registrable Securities covered
by such Prospectus and any amendment or supplement thereto, except after the giving of any notice pursuant to Section 3(c).

 

(g)              
If NASDR Rule 2710 requires any broker-dealer to make a filing prior to executing a sale by a Holder, the Company shall
(i) make an Issuer Filing with the NASDR, Inc. Corporate Financing Department pursuant to proposed NASDR Rule 2710(b)(10)(A)(i),
(ii) respond within five Trading Days to any comments received from NASDR in connection therewith, and (iii) pay the filing fee
required in connection therewith.

 

    	5

    	 

    

 

 

(h)              
Prior to any resale of Registrable Securities by a Holder, use its commercially reasonable efforts to register or qualify
or cooperate with the selling Holders in connection with the registration or qualification (or exemption from the Registration
or qualification) of such Registrable Securities for the resale by the Holder under the securities or Blue Sky laws of such jurisdictions
within the United States as any Holder reasonably requests in writing, to keep each registration or qualification (or exemption
therefrom) effective during the Effectiveness Period and to do any and all other acts or things reasonably necessary to enable
the disposition in such jurisdictions of the Registrable Securities covered by each Registration Statement; provided, that (1)
the Company shall not be required to register the Registrable Securities in any jurisdiction wherein an exemption from registration
is reasonably available and (2) the Company shall not be required to qualify generally to do business in any jurisdiction where
it is not then so qualified, subject the Company to any material tax in any such jurisdiction where it is not then so subject or
file a general consent to service of process in any such jurisdiction.

 

(i)                
If requested by the Holders, cooperate with the Holders to facilitate the timely preparation and delivery of certificates
representing Registrable Securities to be delivered to a transferee pursuant to a Registration Statement, which certificates shall
be free, to the extent permitted by the Purchase Agreement, of all restrictive legends, and to enable such Registrable Securities
to be in such denominations and registered in such names as any such Holders may request.

 

(j)                
Upon the occurrence of any event contemplated by this Section 3, as promptly as reasonably possible under the circumstances
taking into account the Company’s good faith assessment of any adverse consequences to the Company and its stockholders of
the premature disclosure of such event, prepare a supplement or amendment, including a post-effective amendment, to a Registration
Statement or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by reference,
and file any other required document so that, as thereafter delivered, neither a Registration Statement nor such Prospectus will
contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make
the statements therein, in light of the circumstances under which they were made, not misleading. If the Company notifies the Holders
in accordance with clauses (iii) through (vi) of Section 3(c) above to suspend the use of any Prospectus until the requisite changes
to such Prospectus have been made, then the Holders shall suspend use of such Prospectus. The Company will use commercially reasonable
efforts to ensure that the use of the Prospectus may be resumed as promptly as is practicable. The Company shall be entitled to
exercise its right under this Section 3(j) to suspend the availability of a Registration Statement and Prospectus for a period
not to exceed 60 calendar days (which need not be consecutive days) in any 12 month period (“Allowed Delay”); provided,
however, that such grace period shall be extended to 90 calendar days in the event of an acquisition by the Company which is required
to be reported under Item 2 of Form 8-K and for which pro forma financial information is required to be reported pursuant to Regulations
S-X (or Regulation S-B) promulgated under the Securities Act.

 

    	6

    	 

    

 

 

(k)              
Comply with all applicable rules and regulations of the Commission.

 

(l)                
The Company may require each selling Holder to furnish to the Company a certified statement as to the number of shares of
Common Stock beneficially owned by such Holder and, if required by the Commission, the natural persons thereof that have voting
and dispositive control over the Shares.

 

4.             Registration
Expenses. All fees and expenses incident to the performance of or compliance with this Agreement by the Company shall be borne
by the Company whether or not any Registrable Securities are sold pursuant to a Registration Statement. The fees and expenses
referred to in the foregoing sentence shall include, without limitation, (i) all registration and filing fees (including, without
limitation, fees and expenses) (A) with respect to filings required to be made with any Trading Market on which the Common Stock
is then listed for trading, (B) in compliance with applicable state securities or Blue Sky laws reasonably agreed to by the Company
in writing (including, without limitation, fees and disbursements of counsel for the Company in connection with Blue Sky qualifications
or exemptions of the Registrable Securities) and (C) if not previously paid by the Company in connection with an Issuer Filing,
with respect to any filing that may be required to be made by any broker through which a Holder intends to make sales of Registrable
Securities with NASD Regulation, Inc. pursuant to the NASD Rule 2710, so long as the broker is receiving no more than a customary
brokerage commission in connection with such sale, (ii) printing expenses (including, without limitation, expenses of printing
certificates for Registrable Securities), (iii) messenger, telephone and delivery expenses, (iv) fees and disbursements of counsel
for the Company, (v) Securities Act liability insurance, if the Company so desires such insurance, and (vi) fees and expenses
of all other Persons retained by the Company in connection with the consummation of the transactions contemplated by this Agreement.
In addition, the Company shall be responsible for all of its internal expenses incurred in connection with the consummation of
the transactions contemplated by this Agreement (including, without limitation, all salaries and expenses of its officers and
employees performing legal or accounting duties), the expense of any annual audit and the fees and expenses incurred in connection
with the listing of the Registrable Securities on any securities exchange as required hereunder. In no event shall the Company
be responsible for any broker or similar commissions of any Holder or, except to the extent provided for in the Transaction Documents,
any legal fees or other costs of the Holders.

 

   5.            Indemnification.

 

  (a)               
Indemnification by the Company. The Company shall, notwithstanding any termination of this Agreement, indemnify and
hold harmless each Holder, the officers, directors, members, partners, agents, brokers, investment advisors and employees (and
any other Persons with a functionally equivalent role of a Person holding such titles, notwithstanding a lack of such title or
any other title) of each of them, each Person who controls any such Holder (within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act) and the officers, directors, members, shareholders, partners, agents and employees (and
any other Persons with a functionally equivalent role of a Person holding such titles, notwithstanding a lack of such title or
any other title)of each such controlling Person, to the fullest extent permitted by applicable law, from and against any and all
losses, claims, damages, liabilities, costs (including, without limitation, reasonable attorneys’ fees) and expenses (collectively,
“Losses”), as incurred, arising out of or relating to (1) any untrue or alleged untrue statement of a material
fact contained in a Registration Statement, any Prospectus or any form of prospectus or in any amendment or supplement thereto
or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission of a material fact required
to be stated therein or necessary to make the statements therein (in the case of any Prospectus or form of prospectus or supplement
thereto, in light of the circumstances under which they were made) not misleading, or (2) any violation or alleged violation by
the Company of the Securities Act, Exchange Act or any state securities law, or any rule or regulation thereunder, in connection
with the performance of its obligations under this Agreement, except to the extent, but only to the extent, that (i) such untrue
statements or omissions are based in reliance upon information regarding such Holder furnished in writing to the Company by such
Holder expressly for use therein, or to the extent that such information relates to such Holder or such Holder’s proposed
method of distribution of Registrable Securities and was reviewed and expressly approved in writing by such Holder expressly for
use in a Registration Statement, such Prospectus or such form of Prospectus or in any amendment or supplement thereto or (ii) in
the case of an occurrence of an event of the type specified in Section 3(c)(iii)-(vi), the use by such Holder of an outdated or
defective Prospectus after the Company has notified such Holder in writing that the Prospectus is outdated or defective and prior
to the receipt by such Holder of the Advice contemplated in Section 6(d). The Company shall notify the Holders promptly of the
institution, threat or assertion of any Proceeding arising from or in connection with the transactions contemplated by this Agreement
of which the Company is aware.

 

    	7

    	 

    

 

 

(b)              
Indemnification by Holders. Each Holder shall, severally and not jointly, indemnify and hold harmless the Company,
its directors, officers, agents and employees, each Person who controls the Company (within the meaning of Section 15 of the Securities
Act and Section 20 of the Exchange Act), and the directors, officers, agents or employees of such controlling Persons, to the fullest
extent permitted by applicable law, from and against all Losses, as incurred, to the extent arising out of or based solely upon:
(x) such Holder’s failure to comply with the prospectus delivery requirements of the Securities Act or (y) any untrue or
alleged untrue statement of a material fact contained in any Registration Statement, any Prospectus, or any form of prospectus,
or in any amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged
omission of a material fact required to be stated therein or necessary to make the statements therein not misleading (i) to the
extent, but only to the extent, that such untrue statement or omission is contained in any information so furnished in writing
by such Holder to the Company specifically for inclusion in such Registration Statement or such Prospectus or (ii) to the extent
that such information relates to such Holder’s proposed method of distribution of Registrable Securities and was reviewed
and expressly approved in writing by such Holder expressly for use in a Registration Statement, such Prospectus or such form of
Prospectus or in any amendment or supplement thereto or (iii) in the case of an occurrence of an event of the type specified in
Section 3(c)(iii)-(vi), the use by such Holder of an outdated or defective Prospectus after the Company has notified such Holder
in writing that the Prospectus is outdated or defective and prior to the receipt by such Holder of the Advice contemplated in Section
6(d). In no event shall the liability of any selling Holder hereunder be greater in amount than the dollar amount of the net proceeds
received by such Holder upon the sale of the Registrable Securities giving rise to such indemnification obligation.

 

(c)               
Conduct of Indemnification Proceedings. If any Proceeding shall be brought or asserted against any Person entitled
to indemnity hereunder (an “Indemnified Party”), such Indemnified Party shall promptly notify the Person from
whom indemnity is sought (the “Indemnifying Party”) in writing, and the Indemnifying Party shall have the right
to assume the defense thereof, including the employment of counsel reasonably satisfactory to the Indemnified Party and the payment
of all fees and expenses incurred in connection with defense thereof; provided, that the failure of any Indemnified Party to give
such notice shall not relieve the Indemnifying Party of its obligations or liabilities pursuant to this Agreement, except (and
only) to the extent that it shall be finally determined by a court of competent jurisdiction (which determination is not subject
to appeal or further review) that such failure shall have prejudiced the Indemnifying Party.

 

    	8

    	 

    

 

 

An Indemnified
Party shall have the right to employ separate counsel in any such Proceeding and to participate in the defense thereof, but the
fees and expenses of such counsel shall be at the expense of such Indemnified Party or Parties unless: (1) the Indemnifying Party
has agreed in writing to pay such fees and expenses; (2) the Indemnifying Party shall have failed promptly to assume the defense
of such Proceeding and to employ counsel reasonably satisfactory to such Indemnified Party in any such Proceeding; or (3) the named
parties to any such Proceeding (including any impleaded parties) include both such Indemnified Party and the Indemnifying Party,
and counsel to the Indemnified Party shall reasonably believe that a material conflict of interest is likely to exist if the same
counsel were to represent such Indemnified Party and the Indemnifying Party (in which case, if such Indemnified Party notifies
the Indemnifying Party in writing that it elects to employ separate counsel at the expense of the Indemnifying Party, the Indemnifying
Party shall not have the right to assume the defense thereof and the reasonable fees and expenses of no more than one separate
counsel shall be at the expense of the Indemnifying Party). The Indemnifying Party shall not be liable for any settlement of any
such Proceeding effected without its written consent, which consent shall not be unreasonably withheld or delayed. No Indemnifying
Party shall, without the prior written consent of the Indemnified Party, effect any settlement of any pending Proceeding in respect
of which any Indemnified Party is a party, unless such settlement includes an unconditional release of such Indemnified Party from
all liability on claims that are the subject matter of such Proceeding.

 

Subject to
the terms of this Agreement, all reasonable fees and expenses of the Indemnified Party (including reasonable fees and expenses
to the extent incurred in connection with investigating or preparing to defend such Proceeding in a manner not inconsistent with
this Section) shall be paid to the Indemnified Party, as incurred, within ten Trading Days of written notice thereof to the Indemnifying
Party, provided that the Indemnified Party shall promptly reimburse the Indemnifying Party for that portion of such fees and expenses
applicable to such actions for which such Indemnified Party is judicially determined to be not entitled to indemnification hereunder.

 

    	9

    	 

    

 

 

(d)              
Contribution. If the indemnification under Section 5(a) or 5(b) is unavailable to an Indemnified Party or insufficient
to hold an Indemnified Party harmless for any Losses, then each Indemnifying Party shall contribute to the amount paid or payable
by such Indemnified Party, in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party and Indemnified
Party in connection with the actions, statements or omissions that resulted in such Losses as well as any other relevant equitable
considerations. The relative fault of such Indemnifying Party and Indemnified Party shall be determined by reference to, among
other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or
alleged omission of a material fact, has been taken or made by, or relates to information supplied by, such Indemnifying Party
or Indemnified Party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent
such action, statement or omission. The amount paid or payable by a party as a result of any Losses shall be deemed to include,
subject to the limitations set forth in this Agreement, any reasonable attorneys’ or other fees or expenses incurred by such
party in connection with any Proceeding to the extent such party would have been indemnified for such fees or expenses if the indemnification
provided for in this Section was available to such party in accordance with its terms.

 

The parties
hereto agree that it would not be just and equitable if contribution pursuant to this Section 5(d) were determined by pro rata
allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the
immediately preceding paragraph. Notwithstanding the provisions of this Section 5(d), no Holder shall be required to contribute,
in the aggregate, any amount in excess of the amount by which the net proceeds actually received by such Holder from the sale of
the Registrable Securities subject to the Proceeding exceeds the amount of any damages that such Holder has otherwise been required
to pay by reason of such untrue or alleged untrue statement or omission or alleged omission, except in the case of fraud by such
Holder.

 

The indemnity
and contribution agreements contained in this Section are in addition to any liability that the Indemnifying Parties may have to
the Indemnified Parties.

 

6.             
Miscellaneous.

 

 (a)               
Remedies. In the event of a breach by the Company or by a Holder of any of their respective obligations under this
Agreement, each Holder or the Company, as the case may be, in addition to being entitled to exercise all rights granted by law
and under this Agreement, including recovery of damages, shall be entitled to specific performance of its rights under this Agreement.
The Company and each Holder agree that monetary damages would not provide adequate compensation for any losses incurred by reason
of a breach by it of any of the provisions of this Agreement and hereby further agrees that, in the event of any action for specific
performance in respect of such breach, it shall not assert or shall waive the defense that a remedy at law would be adequate.

 

    	10

    	 

    

 

 

 (b)              
Compliance. Each Holder covenants and agrees that it will comply with the prospectus delivery requirements of the
Securities Act as applicable to it in connection with sales of Registrable Securities pursuant to a Registration Statement.

 

 (c)               
Discontinued Disposition. By its acquisition of Registrable Securities, each Holder agrees that, upon receipt of
a notice from the Company of the occurrence of any event of the kind described in Section 3(c), such Holder will forthwith discontinue
disposition of such Registrable Securities under a Registration Statement until it is advised in writing (the “Advice”)
by the Company that the use of the applicable Prospectus (as it may have been supplemented or amended) may be resumed. The Company
will use its best efforts to ensure that the use of the Prospectus may be resumed as promptly as it practicable.

 

 (d)              
Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended,
modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the same shall
be in writing and signed by the Company and a majority of the Holders of the then outstanding Registrable Securities. Notwithstanding
the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the
rights of Holders and that does not directly or indirectly affect the rights of other Holders may be given by Holders of all of
the Registrable Securities to which such waiver or consent relates; provided, however, that the provisions of this
sentence may not be amended, modified, or supplemented except in accordance with the provisions of the immediately preceding sentence.

 

 (e)               
Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder
shall be delivered as set forth in the Purchase Agreement.

 

 (f)               
Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted
assigns of each of the parties and shall inure to the benefit of each Holder. The Company may not assign its rights (except by
merger) or obligations hereunder without the prior written consent of all of the Holders of the then-outstanding Registrable Securities.
Each Holder may assign their respective rights hereunder in the manner and to the Persons as permitted under the Purchase Agreement.

 

 (g)              
Execution and Counterparts. This Agreement may be executed in two or more counterparts, all of which when taken together
shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and
delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature
is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create
a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect
as if such facsimile or “.pdf” signature page were an original thereof.

 

    	11

    	 

    

 

 

 (h)              
Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement
shall be determined in accordance with the provisions of the Subscription Agreement.

 

 (i)                
Cumulative Remedies. The remedies provided herein are cumulative and not exclusive of any other remedies provided
by law.

 

 (j)                
Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction
to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein
shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use
their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result
as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention
of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any
of such that may be hereafter declared invalid, illegal, void or unenforceable.

 

 (k)              
Headings. The headings in this Agreement are for convenience only, do not constitute a part of this Agreement, and
shall not be deemed to limit or affect any of the provisions hereof.

 

 (l)                
Independent Nature of Holders’ Obligations and Rights. The obligations of each Holder hereunder are several
and not joint with the obligations of any other Holder hereunder, and no Holder shall be responsible in any way for the performance
of the obligations of any other Holder hereunder. Nothing contained herein or in any other agreement or document delivered at any
closing, and no action taken by any Holder pursuant hereto or thereto, shall be deemed to constitute the Holders as a partnership,
an association, a joint venture or any other kind of entity, or create a presumption that the Holders are in any way acting in
concert with respect to such obligations or the transactions contemplated by this Agreement. Each Holder shall be entitled to protect
and enforce its rights, including without limitation the rights arising out of this Agreement, and it shall not be necessary for
any other Holder to be joined as an additional party in any proceeding for such purpose.

 

    	12

    	 

    

 

 

IN WITNESS WHEREOF, the
parties have executed this Registration Rights Agreement as of the date first written above.

 

 

	 	Eurocan Holdings, Ltd.
	 	 
	 	By: 	
	 	 	Name: Steven Earles
Title: Chief Executive Officer

 

 

[SIGNATURE PAGE OF HOLDERS FOLLOWS]

 

 

    	13

    	 

    

 

 

SIGNATURE PAGE OF HOLDERS TO SIGN RRA

 

Name of Holder: __________________________

Signature of Authorized Signatory of Holder: __________________________

Name of Authorized Signatory: _________________________

Title of Authorized Signatory: __________________________

			

 

 

[SIGNATURE PAGES CONTINUE]

 

    	14

    	 

    

 

Annex A

 

[                         ]

 

Selling Securityholder Notice and Questionnaire

 

The undersigned beneficial
owner of common stock (the “Registrable Securities”) of Eurocan Holdings, Ltd., a Nevada corporation (the “Company”),
understands that the Company has filed or intends to file with the Securities and Exchange Commission (the “Commission”)
a registration statement (the “Registration Statement”) for the registration and resale under Rule 415 of the
Securities Act of 1933, as amended (the “Securities Act”), of the Registrable Securities, in accordance with
the terms of the Registration Rights Agreement (the “Registration Rights Agreement”) to which this document
is annexed. A copy of the Registration Rights Agreement is available from the Company upon request at the address set forth below.
All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Registration Rights Agreement.

 

Certain legal consequences
arise from being named as a selling securityholder in the Registration Statement and the related prospectus. Accordingly, holders
and beneficial owners of Registrable Securities are advised to consult their own securities law counsel regarding the consequences
of being named or not being named as a selling securityholder in the Registration Statement and the related prospectus.

 

NOTICE

 

The undersigned beneficial
owner (the “Selling Securityholder”) of Registrable Securities hereby elects to include the Registrable Securities
owned by it in the Registration Statement.

 

    	15

    	 

    

 

 

The undersigned hereby provides the following
information to the Company and represents and warrants that such information is accurate:

 

QUESTIONNAIRE

 

		1.	Name.

 

	(a)	Full Legal Name of Selling Securityholder
	 	 
	 	 
		 
	 	 
	(b)	Full Legal Name of Registered Holder (if not the same as (a) above) through which registrable Securities are held: 
	 	 
	 	 
	 	 
		 
	(c)	Full Legal Name of Natural Control Person (which means a natural person who directly or indirectly alone or with others
	 	has power to vote or dispose of the securities covered by the questionnaire):
	 	 
	 	 
	 	 

 

 

2. Address for Notices to Selling
Securityholder:

 

	 
	 
	 
	Telephone:	 
	Fax:	 
	Contact Person:	 

 

 

3. Broker-Dealer Status:

 

(a)Are
you a broker-dealer?

 

Yes ☐ No ☐

 

(b)If
“yes” to Section 3(a), did you receive your Registrable Securities as compensation for investment banking services
to the Company.

 

Yes ☐ No ☐

 

    	16

    	 

    

 

Note:If
no, the Commission’s staff has indicated that you should be identified as an underwriter in the Registration Statement.

 

(c)Are
you an affiliate of a broker-dealer?

 

Yes ☐ No ☐

 

(d)If
you are an affiliate of a broker-dealer, do you certify that you bought the Registrable Securities in the ordinary course of business,
and at the time of the purchase of the Registrable Securities to be resold, you had no agreements or understandings, directly or
indirectly, with any person to distribute the Registrable Securities?

 

Yes ☐ No ☐

 

Note:If
no, the Commission’s staff has indicated that you should be identified as an underwriter in the Registration Statement.

 

4. Beneficial Ownership of Other
Securities of the Company Owned by the Selling Securityholder.

 

Except as set forth below in
this Item 4, the undersigned is not the beneficial or registered owner of any securities of the Company other than the securities
issuable pursuant to

the Subscription Agreement.

 

(a)   Type
and Amount of other securities beneficially owned by the Selling Securityholder:

 

	 
	 
	 

 

5. Relationships with the Company:

 

Except as set forth below,
neither the undersigned nor any of its affiliates, officers, directors or principal equity holders (owners of 5% of more of the
equity securities of the

 undersigned) has held
any position or office or has had any other material relationship with the Company (or its predecessors or affiliates) during
the past three years.

 

 

	State any exception here:

 

	 
	 
	 

 

 

    	17

    	 

    

 

 

The undersigned agrees
to promptly notify the Company of any inaccuracies or changes in the information provided herein that may occur subsequent to the
date hereof at any time while the Registration Statement remains effective.

 

By
signing below, the undersigned consents to the disclosure of the information contained herein in its answers to Items 1 through
5 and the inclusion of such information in the Registration Statement and the related prospectus and any amendments or supplements
thereto. The undersigned understands that such information will be relied upon by the Company in
connection with the preparation or amendment of the Registration Statement and the related prospectus.

 

IN WITNESS WHEREOF
the undersigned, by authority duly given, has caused this Notice and Questionnaire to be executed and delivered either in person
or by its duly authorized agent.

 

	Dated: __________________________________________________	 	Beneficial Owner 	
	 	 	 
	 	 	By:	 
	 	 	 	Name:	 
	 	 	 	Title:	 

 

PLEASE FAX A COPY OF THE COMPLETED AND
EXECUTED NOTICE AND QUESTIONNAIRE, AND RETURN THE ORIGINAL BY OVERNIGHT MAIL, TO:

 

Attn:

 

18

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