Document:

Exhibit
10.1

 

July
13, 2022

 

Organicell
Regenerative Medicine, Inc.

c/o
Mr. Albert Mitrani

4045
Sheridan Avenue

Suite
239

Miami,
FL 33140

 

		RE:	BINDING
                                            LETTER OF INTENT (“LOI”) FOR THE PURCHASE OF ORGANICELL STOCK

 

This
letter of intent (this “LOI”), when signed where indicated below, shall constitute a binding statement to consummate
a transaction by and between Organicell Regenerative Medicine, Inc., a Nevada corporation (“Organicell”) and Skycrest Holdings,
LLC (“Skycrest”) and Greyt Ventures LLC (“Greyt”), their participants and/or assigns (collectively Skycrest and
Greyt are referred to as “Investors”). Organicell and Investors are each referred to herein individually, as a “Party”
and collectively, as the “Parties.”

 

The
transaction (“Proposed Transaction”) contemplates the following:

 

		(i)	the
                                            purchase by Investors of a limited amount of common stock of Organicell, and

 

		(ii)	agreement
                                            for Investor to provide consulting services to Organicell, and

 

		(iii)	the
                                            agreement of Organicell to make agreed upon management changes and implementation of corporate
                                            governance policies, board of director changes and procedures.

 

The
Parties desire to enter into the Transaction on the following terms:

 

	1.	LIMITED
                                            STOCK PURCHASE:	Investor
                                            agrees to purchase $2,000,000 of shares of Organicell restricted common stock (“Shares”)
                                            at a purchase price of $0.02 per share, which shall be used by Organicell for Organicell
                                            working capital needs (100,000,000 shares). Said shares will be registered and unrestricted
                                            concurrent with the filing of the S-1 by BOD.

 

	2.	 CONSULTING AGREEMENT	Organicell
                                            and Investor shall enter into a consulting agreement (“Consulting Agreement”)
                                            whereby each Skycrest and Greyt shall be retained for 36 months, using their best efforts
                                            to provide certain advisory services to Organicell, including:

 

		a.	Transactions
                                            involving relationships and companies that will help develop and expand Organicell’s
                                            PPX business (marketing, processing (Quest), and/or sales (telemedicine companies),

 

		b.	Investment
                                            advisory services in connection with future financings that may be required by Organicell.

 

    1

     

    

 

The
term of the Consulting Agreement shall be for 36 months. Each Skycrest and Greyt shall receive compensation, issued in full at closing
cashless warrants to purchase up to an aggregate of 150,000,000 shares of common stock, each, of Organicell (“Warrants”)
generally described below (total 300,000,000 shares):

 

		1.	Warrants
                                            will have a term of ten (10) years in which to exercise;

 

		2.	Strike
                                            Price –$0.02 per share;

 

The
Company will file an S-1 registration statement in the future to register the shares underlying the aforementioned Warrants and shares
as determined by the BOD.

 

	3.	CORPORATE
                                            GOVERANCE:	As
                                            an inducement for Investors to enter into this LOI, Organicell agrees to timely implement
                                            the following corporate governance and other “best practices” procedures, policies
                                            and controls during the first 30 days from the Effective Date:

 

		A.	Al
                                            Mitrani shall agree to step down as CEO of Organicell. Mr. Mitrani will assume the role as
                                            Executive Vice President of Sales and be a member of the Board.

 

		B.	Restructuring
                                            of the current BOD where by investors will have majority control which shall also include
                                            adding new “independent” BOD members, including an “audit committee financial
                                            expert,” and other members with compatible finance, scientific, biotech and marketing
                                            and sales experience

 

		C.	Establish
                                            audit, compensation and corporate governance committees comprised of independent directors

 

		D.	All
                                            cash will be managed and controlled through designated bank accounts controlled by Organicell’s
                                            CFO and newly appointed CEO, and/or acting CEO, initially Matt Sinnreich (one account for
                                            investment proceeds and receipts and another account for expenses), separate and exclusive
                                            of all current accounts.

 

		E.	The
                                            parties agree to the attached Exhibit A - Projected operating budget

 

		F.	Waiver
                                            by all current C-Level executives of any compensation that would be due in connection with
                                            a change in control and termination of any current rights in their respective agreements
                                            to increases in Base Salary, commissions, and fixed bonuses, and other benefits. George Shapiro’s
                                            compensation with respect to his consulting agreement shall be terminated with no further
                                            obligation related thereto. Accrued salaries, upon review and acceptance, shall be compensated
                                            in the form of cashless warrants, on the same terms as set forth above.

 

    2

     

    

 

		G.	Implementation
                                            of policies and procedures to strengthen internal controls with respect to:

 

		●	Cash
                                            Management

 

		●	Issuance
                                            of Corporate Credit Card(s)

 

		●	Review
                                            and approval, and/or renegotiation of agreements and transactions with related parties

 

		●	Financial
                                            reporting

 

		●	Human
                                            Resources

 

		H.	The
                                            annual salaries of Albert Mitrani and Mari Mitrani shall be set at $300,000 each. Any other
                                            benefits shall be in line with the Company’s benefits awarded to C-Level employees
                                            approved by the new BOD.

 

	4.	CONDITIONS TO CLOSING:	The
                                            following shall be conditions precedent to the Closing the Transaction described herein (note:
                                            the ADVANCE is to be funded as provided for below and not contingent on a Closing):

 

		a.	Legal
                                            opinion from Organicell’s SEC counsel regarding compliance of the Proposed Transaction,

 

		b.	Requisite
                                            BOD approvals and consents, as a precondition to the funding of the $300,000 by July 15,
                                            2022.

 

		c.	Execution
                                            of definitive agreements for the Organicell Stock Purchase, Consulting Agreement and Warrant
                                            Agreement (“Definitive Agreements”),

 

		d.	Waiver
                                            or participation from Organicell’s existing lender (AJB Capital) as to their right
                                            to participate in Proposed Transaction.

 

		e.	In
                                            the event any of the above stated four conditions are not met, Organicell must return the
                                            $300,000 funded pursuant to this Binding LOI within 30 days from the effective date herein,
                                            and, immediately provide Investors with an additional One Hundred Million shares, along with
                                            the One Hundred Million shares earned with the $300,000 funding of July 15, 2002, as a Breakup
                                            Fee for its’ failure to Close on the full transaction as contemplated within this Binding
                                            LOI. If the Investors do not perform or cannot close, they will still be required to pay
                                            the Company $2.0 Million in exchange for each of Skycrest and Greyt receiving 100 Million
                                            shares of common stock.

 

	5.	GOOD FAITH:	The Parties
               have agreed to cooperate and exercise their respective commercially reasonable best
               efforts in good faith, to draft and execute the Definitive Agreements consistent with the terms of this LOI as promptly
               as reasonably practicable, but in no event, later than August 30, 2022, otherwise, the Breakup Fee, as set forth
               in paragraph 4e, above, shall go into effect and the refund and issuance of stock shall, pursuant to said Breakup Fee
               shall be due on August 31, 2022, unless an extension, in writing, is agreed to by all Parties hereto.

 

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	6.	CLOSING:	Investors
                                            will fund the ADVANCE of $300,000 no later than Friday July 15, 2022. The parties anticipate
                                            the closing of the transactions contemplated herein (“Effective
                                            Date”), including preparation, negotiation and execution of the Definitive Agreements
                                            shall occur within 45 days from the signing of this LOI. No additional funding shall occur
                                            until this Transaction is Closed.

 

	7.	EXPENSES:	Each
                                            Party to the LOI contemplated hereby shall bear its own legal, accounting and other fees
                                            and expenses incurred in connection with the LOI, whether or not the Definitive Agreements
                                            are executed, other than the Breakup Fee as stated and described, above.

 

	8.	BINDING
EFFECT:	This
LOI is intended to constitute a binding agreement among the Parties.

 

	9.	ADVANCE:	As
an inducement for Organicell to enter into this LOI, Investors agrees to advance at the time this LOI is executed in the amount of $300,000
(“Advance”). The Advance shall be applied towards the purchase price for the Shares.

 

	10.	 GOVERNING LAW & VENUE:	This LOI
shall be deemed to be made in and in all respects shall be interpreted, construed and governed by and in accordance with the laws of
the State of Florida without regard to the conflicts of law provisions thereof to the extent that such principles would direct a
matter to another jurisdiction. The Parties hereto agree that the only Venue for any disputes arising under this LOI or subsequent definitive
agreements, shall be Broward County, Florida.

 

	11.	TERM
                                            AND TERMINATION:	The
                                            Parties have agreed to use their best efforts to consummate the Proposed Transaction within
                                            45 days from execution of this LOI. The LOI may be extended for additional periods upon mutual
                                            agreement of the Parties.

 

	12.	COUNTERPARTS:	This LOI may
be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which shall constitute one agreement.
Photocopies, facsimile transmissions, or email transmissions of Adobe portable document format files (also known as “PDF”
files) of signatures shall be deemed original signatures and shall be fully binding on the Parties to the same extent as original signatures.

 

    4

     

    

 

	13.	KEY
                                  CONTACTS:	Organicell:

 

Albert
Mitrani

Albert@organicell.com

Tel:
     760 709 2510

 

Ian
Bothwell

ian@organicell.com

Tel:

     310 200 9741

 

	14.	PUBLIC
                                            DISCLOSURE:	Without
                                            the prior written consent of the other Parties, and unless required by law, rule or regulation
                                            or policy of any national securities exchange or similar regulatory body, the Parties shall
                                            not make any public disclosure (orally or in writing) prior to the Closing regarding (i)
                                            the existence or terms of this LOI; or (ii) identity of the Parties. If a Party is required
                                            by law to make such a disclosure, it will provide the other Parties with prompt written notice
                                            prior to making such disclosure.

 

	15.	AMENDMENTS;
                                            WAIVERS:	This LOI may
                                            not be modified, amended or supplemented except by a written instrument signed by the Parties.

 

	16.	HEADINGS:	Section
and other headings contained in this LOI are for reference purposes only and are not intended to describe, interpret, define,
or limit the scope, extent, or intent of this LOI or any provision hereof.

 

	17.	CONFIDENTIALITY	THE
                                            PARTIES SHALL CONTINUE TO BOUND BY THE TERMS OF THE PRIOR NDA EXECUTED BETWEEN THE PARTIES

 

SIGNATURE
PAGE FOLLOWS

 

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ORGANICELL REGENERATIVE MEDICINE, INC, 

a Nevada corporation

 

	By:	/s/ Albert Mitrani	 
	Name:	Albert Mitrani	 
	Title:	CEO	 
	Date:	July 13, 2022	 
	 	 	 
	By:	/s/ Mari Mitrani	 
	Name:	Mari Mitrani	 
	Title:	 	 
	Date:	July 13, 2022	 
	 	 	 
	By:	/s/ Ian Bothwell	 
	Name:	 Ian Bothwell	 
	Title:	CFO	 
	Date:	July 13, 2022	 
	

 

SKYCREST HOLDINGS LLC 

a Florida limited liability company

	 	 	 
	By:	/s/ Harvey Birdman	 
	Name:	Harvey Birdman	 
	Title:	 	 
	Date:	 July 13, 2022	 
	

 

GREYT VENTURES LLC 

a Delaware limited liability company

 

	By:	/s/ Wendy Grey
	 
	Name:	Wendy Grey
	 
	Title:	 	 
	Date:	July 13, 2022	 

 

    6Exhibit
10.2

 

July
16, 2022

 

Organicell
Regenerative Medicine, Inc.

c/o
Mr. Albert Mitrani

4045
Sheridan Avenue

Suite
239

Miami,
FL 33140

 

		RE:	BINDING
                                            LETTER OF INTENT (“LOI”) FOR THE PURCHASE OF ORGANICELL STOCK

 

This
letter of intent (this “LOI”), when signed where indicated below, shall constitute a binding statement to consummate
a transaction by and between Organicell Regenerative Medicine, Inc., a Nevada corporation (“Organicell”) and Beyond 100
FZE, a company incorporated in Dubai (“Beyond”) or any of its affiliate entities (“Investor”). Organicell
and Investor are each referred to herein individually, as a “Party” and collectively, as the “Parties.”

 

The
transaction (“Transaction”) contemplates the following:

 

		(i)	the
                                            purchase by Investors of a limited amount of common stock of Organicell, and

 

		(ii)	the
                                            agreement of Organicell to make agreed upon management changes and implementation of corporate
                                            governance policies, board of director (“BOD”) changes and procedures.

 

The
Parties desire to enter into the Transaction on the following terms:

 

	1.	LIMITED STOCK PURCHASE:	Investor
                                            agrees to purchase $2,000,000 of shares of Organicell restricted common stock (“Shares”)
                                            at a purchase price of $0.02 per share, which shall be used by Organicell for Organicell
                                            working capital needs (100,000,000 shares). Said shares will be registered and subsequently
                                            unrestricted concurrent with the filing of the S-1 by BOD.

 

	2.	CORPORATE GOVERANCE:
	As
                                            an inducement for Investors to enter into this LOI, Organicell agrees to timely implement
                                            the following corporate governance and other “best practices” procedures, policies
                                            and controls during the first 30 days from the Effective Date:

 

		A.	Al
                                            Mitrani shall agree to step down as CEO of Organicell. Mr. Mitrani will assume the role as
                                            Executive Vice President of Sales and be a member of the Board. 

 

		B.	Restructuring
                                            of the current BOD whereby new investors will have majority control which shall also include
                                            adding new “independent” BOD members, including an “audit committee financial
                                            expert,” and other members with compatible finance, scientific, biotech and marketing
                                            and sales experience. Dr Bhupendra Kumar Modi (“Dr. Modi”) shall be appointed
                                            to the BOD and serve as Chairman of the Board. The Company shall appoint Gurvinder Pal Singh
                                            to serve on the BOD. 

 

    1

     

    

 

		C.	Establish
                                            audit, compensation and corporate governance committees comprised of independent directors.

 

		D.	All
                                            cash will be managed and controlled through designated bank accounts controlled by Organicell’s
                                            CFO and newly appointed CEO, and/or acting CEO, initially Matt Sinnreich (one account for
                                            investment proceeds and receipts and another account for expenses), separate and exclusive
                                            of all current accounts. 

 

		E.	The
                                            parties agree to the attached Exhibit A - Projected operating budget.

 

		F.	Waiver
                                            by all current C-Level executives of any compensation that would be due in connection with
                                            a change in control and termination of any current rights in their respective agreements
                                            to increases in Base Salary, commissions, and fixed bonuses, and other benefits. George Shapiro’s
                                            compensation with respect to his consulting agreement shall be terminated with no further
                                            obligation related thereto. Accrued salaries, upon review and acceptance, shall be compensated
                                            in the form of cashless warrants, on the same terms as set forth above.

 

		G.	Implementation
                                            of policies and procedures to strengthen internal controls with respect to:

 

		●	Cash
                                            Management

 

		●	Issuance
                                            of Corporate Credit Card(s)

 

		●	Review
                                            and approval, and/or renegotiation of agreements and transactions with related parties
	 	 	 

		●	Financial
                                            reporting (including providing periodic financial reports to the BOD as requested by the
                                            BOD)
	 	 	 

		●	Human
                                            Resources

 

		H.	The
                                            annual salaries of Albert Mitrani and Mari Mitrani shall be set at $300,000 each. Any other
                                            benefits shall be in line with the Company’s benefits awarded to C-Level employees
                                            approved by the new BOD.

 

	3.	REPRESENTATION	Investor
(and any designated BOD member of Investor) and none of its members, shareholders, managers, directors, officers or affiliates is a “bad
actor” as defined under Regulation D.

 

	4.	GOOD
FAITH:	The
Parties have agreed to cooperate and exercise their respective commercially reasonable best efforts
in good faith to draft and execute the Definitive Agreements consistent with the terms of this LOI as promptly as reasonably practicable,
but in no event, later than August 30, 2022.

 

	5.	EXPENSES:	Each
                                            Party to the LOI contemplated hereby shall bear its own legal, accounting and other fees
                                            and expenses incurred in connection with the LOI, whether or not the Definitive Agreements
                                            are executed.

 

    2

     

    

 

	6.	ADVANCE:	As
an inducement for Organicell to enter into this LOI, Investor agrees to advance the amount of $300,000 (“Advance”) upon execution
of this LOI. The Advance shall be wired to the Company’s designated bank account by Tuesday July 18, 2022 (expected to take up
to 2-3 days to clear into the Company’s US designated bank account) and applied towards the purchase price for the Shares upon
close of the Transaction.

 

			In the event the
                                                                                                                                                                 Transaction does not close due to the Company, then Investor shall be entitled to receive reimbursement of the Advance within 30
                                                                                                                                                                 days or the Investor may elect to convert the Advance into common stock of the Company at price of $0.015 per share. In the event
                                                                                                                                                                 the Transaction does not close due to the Investor, then the Advance shall convert into common stock of the Company at price of
                                                                                                                                                                 $0.02 per share.

 

	7.	BINDING EFFECT:	This LOI is intended to constitute a binding agreement among the Parties.

 

	8.	ROFR:	The
Company agrees that Dr. Modi and/or his designated affiliates shall have a right of first refusal (“ROFR”) in connection
with the Company’s intentions to enter into any exclusive arrangement providing for manufacturing, distribution, licensing, and
commercialization for existing and future products and services to be manufactured, licensed and/or distributed by Organicell or any
of its subsidiary entities in India. This ROFR shall expire 18 months from the Closing of the Transaction.

 

	9.	GOVERNING
                                        LAW & VENUE:	This LOI shall be deemed
                                                                to be made in and in all respects shall be interpreted, construed and governed by and in accordance with the laws of the State
                                                                of Florida without regard to the conflicts of law provisions thereof to the extent that such principles would direct a matter
                                                                to another jurisdiction. The Parties hereto agree that the only Venue for any disputes arising under this LOI or subsequent
                                                                definitive agreements, shall be Broward County, Florida.

 

	10.	COUNTERPARTS:	This LOI may
be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which shall constitute one agreement.
Photocopies, facsimile transmissions, or email transmissions of Adobe portable document format files (also known as “PDF”
files) of signatures shall be deemed original signatures and shall be fully binding on the Parties to the same extent as original signatures.

 

    3

     

    

 

	11.	KEY
                                         CONTACTS:	Organicell:

			 

                                                                                                                Albert
Mitrani

                                                                                                                Albert@organicell.com

                                                                                Tel:       760 709 2510

 

			Ian
Bothwell

                                                                                                                                                                                                 ian@organicell.com

                                                                                Tel:       310 200 9741

 

	12.	PUBLIC
                                            DISCLOSURE:	Without
                                            the prior written consent of the other Parties, and unless required by law, rule or regulation
                                            or policy of any national securities exchange or similar regulatory body, the Parties shall
                                            not make any public disclosure (orally or in writing) prior to the Closing regarding (i)
                                            the existence or terms of this LOI; or (ii) identity of the Parties. If a Party is required
                                            by law to make such a disclosure, it will provide the other Parties with prompt written notice
                                            prior to making such disclosure.

 

	13.	AMENDMENTS;
                                            WAIVERS:	This LOI may
                                            not be modified, amended or supplemented except by a written instrument signed by the Parties.

 

	14.	HEADINGS:	Section
                                            and other headings contained in this LOI are for reference purposes only and are
                                            not intended to describe, interpret, define, or limit the scope, extent, or intent of
                                            this LOI or any provision hereof.

 

	15.	CONFIDENTIALITY	THE
                                            PARTIES SHALL CONTINUE
                                            TO BOUND BY THE TERMS OF THE PRIOR NDA EXECUTED BETWEEN THE PARTIES

  

SIGNATURE
PAGE FOLLOWS

 

    4

     

    

 

ORGANICELL
REGENERATIVE MEDICINE, INC,

a
Nevada corporation

  

	By:	/s/ Ian Bothwell	 
	Name:	Ian Bothwell	
	Title:	Chief Financial Officer	

 

INVESTOR

 

BEYOND
100 FZE

 

	By:	/s/ Gurvinder Pal Singh	 
	Name:	Gurvinder Pal Singh	 
	Title:	Authorized Signatory	 
	 	 	 
	Date:	16 July 2022	

  

    5

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