Document:

Exhibit 4.3

 

This is a free translation from the French
language and is supplied solely for information purposes. Only the original version in French language has legal force.

 

EDAP TMS

(the
“Company”)

Capital of 4,373,013.32 Euros

Headquarters : Parc d’Activité
de La Poudrette Lamartine,

4, rue du Dauphiné, 69120 VAULX-EN-VELIN

316488204 RCS LYON

 

 

SHARE
PURCHASE OPTION PLAN

 

Ordinary and Extraordinary Assembly Meeting June
28, 2019

 

Board of Directors: June 11, 2021

 

 

 

		1.	GENERAL

 

In accordance with the authorization granted
by the ordinary and extraordinary general shareholders’ meeting of June 28, 2019 (the “Shareholders Authorization”),
the Board of Directors decided on June 11, 2021, in compliance with the provisions of Articles L. 225-177 et seq. of the
French Commercial Code:

 

- to determine the terms and conditions
of the share purchase option plan as set out below, and

- to grant, on one or several occasions,
two hundred ninety-two thousand four hundred and twenty-eight (292,428) options giving the right to purchase a maximum of two hundred
ninety-two thousand four hundred and twenty-eight (292,428) shares of the Company, with a nominal value of €0.13 each, to
some employees and/or employee officers of the Company as well as those of the affiliates of the Company within the meaning of
Article L. 225-180 of the French Commercial Code and as defined in Section 424(f) and Section 3401(c) of the United States Internal
Revenue Code of 1986, as amended (hereafter, the “Affiliates”):

 

The authorization granted by the shareholders
on June 28, 2019 is valid until August 28, 2022 unless terminated earlier.

 

		2.	PURPOSES OF THE PLAN

 

We wish to motivate and reward EDAP’s
teams who will be entirely dedicated to successfully perform our U.S. as well as our worldwide business goals. To this end, the
Board of Directors wishes to implement an incentive stock option program in favor of EDAP’s employees contributing to this
project (the “Plan”).

 

The purposes of the Plan are:

-       
to attract and retain the best available personnel for positions of substantial responsibility;

-       
to provide additional incentive to Beneficiaries as such term is defined herein; and

-       
to promote the success of the Company's business.

 

		3.	SHARES SUBJECT TO THE PLAN AND NUMBER OF OPTIONS TO PURCHASE SHARES

 

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The Board of Directors is authorized to
use shares (i) that the Company already holds for having duly acquired them for allocation to employees and corporate officers
pursuant to Article L.225-177 of the French Commercial Code, and (ii) for which the options, duly granted within one year of the
acquisition of the shares, may no longer be exercised.

 

Subject to the provisions of Article L.
225-181 of the French Commercial Code, as applicable, and pursuant to the Shareholders Authorization, the maximum aggregate number
of shares which may be optioned and issued is equal to 358,528 (the “Shares”).

 

On June 11, 2021, the Board of Directors
decided to grant two hundred ninety-two thousand four hundred and twenty-eight (292,428) share purchase options (the “Options”)
to Beneficiaries, this amount being the available balance of this authorization.

 

Should the Options expire or become unexercisable
for any reason without having been exercised in full, the unpurchased Shares which were subject thereto shall, unless the Plan
shall have been terminated prior to August 28, 2022, become available again for any future grant under the Plan to be made in accordance
with the Shareholders Authorization.

 

		4.	BENEFICIARIES

 

The Chairman of the Board of Directors
(président du conseil d’administration), the Chief Executive Officer (directeur général)
and other deputy executive officers (directeurs généraux délégués) as well as any individual
employed by the Company or by any of its Affiliates, under the terms and conditions of an employment contract, are eligible to
receive Options to the extent otherwise legally eligible to receive Options under the Plan and in the Shareholders Authorization.

 

Subject to the provisions of the French
Commercial Code, the Shareholders Authorization and the Plan, the Board of Directors shall have the authority, in its discretion,
to determine the Beneficiaries to whom Options may be granted hereunder.

 

The list of Beneficiaries, who are French
tax residents, with the exact number of Options allocated to each of them has been set by the Board of Directors at its meeting
on June 11, 2021 (the “Beneficiaries”).

 

Notwithstanding any provisions in the Plan
to the contrary, Options may not be granted to Beneficiaries owning more than ten percent (10%) of the Company’s share capital
except as permitted under Article L. 225-185 of the French commercial code.

 

		5.	DATE OF GRANT AND TERM OF THE PLAN

 

The date of grant of an Option shall be,
for all purposes, the date on which the Board of Directors decides to grant such Option (the “Date of Grant”).

 

No Option may be granted less than twenty
(20) trading sessions after the detachment of a coupon entitling the holder to a dividend or a capital increase.

 

The Plan shall be effective as of June
11, 2021, and Options may be granted as of such date (which is the Date of Grant for the Options that the Board of Directors decided
to grant to Beneficiaries on June 11, 2021) until August 28, 2022. The Plan shall continue in effect until the date of termination
of the last Option in force, unless terminated earlier pursuant to Article 13 hereof.

 

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The Company and each Beneficiary shall
enter into an Option agreement evidencing the terms and conditions of an individual Options grant (the “Option Agreement”).
Such Option Agreements shall be subject to the terms and conditions of the Plan. A written notice evidencing the main terms and
conditions of an individual Options grant is part of the Option Agreement (the “Notice of Grant”). The form
of such Option Agreement is attached as Appendix 1.

 

The grant will be definitive upon the Date
of Grant provided that the Notice of Grant and the Option Agreement have been duly initialed (all pages except the signature page)
and executed (signature page) by the Beneficiary and returned to the Company within one month following receipt of such documents
by the Beneficiary.

 

		6.	OPTIONS EXERCISE PRICE

 

The exercise price of each option to purchase
shares (the “Purchase Price”) shall be set by the Board of Directors on the Date of Grant, by reference to the
closing share price on the NASDAQ on the day preceding the Date of Grant, which may not be less than:

·        
95% of the average price of the ADS of the Company listed on the NASDAQ stock market over the twenty (20) trading days preceding
the Date of Grant, and

·        
95% of the average purchase price of shares purchased by the Company for allocation to employees or corporate officers.

 

For a Date of Grant on June 11, 2021, the
Purchase Price per Share is equal to 5.59 Euros.

 

New shares issued upon exercise must be
fully paid-up at purchase.

 

The Purchase Price may not be modified
for the duration of the Plan. However, the number of Shares under option as well as their Purchase Price may be adjusted, in the
event that the Company implements one of the transactions set out in Article L. 225-181 paragraph 2 of the French Commercial Code.

 

		7.	CONDITIONS PRECEDENT FOR EXERCISE OF THE OPTIONS/CONDITIONS UPON ISSUANCE OF SHARES

 

7.1 PRESENCE IN THE COMPANY

 

7.1.1 Principle

 

The Options shall be null and void and
may not be exercised by the Beneficiary, without the Company having to proceed with any formalities, in the case the Beneficiary
is no longer employed with the Company or its Affiliates, as an employee or a company officer, for more than three (3) months following
Termination, as defined below.

 

For the purpose of the Plan, “Termination”
shall mean, depending upon the case, the date the Beneficiary’s resignation letter is sent or delivered, the date the Beneficiary’s
dismissal letter is sent or the date of his removal as a company officer. Termination does not include leaves of absence which
receive a prior approval from the Company. Such leaves of absence shall include leaves of more than three (3) months for illnesses
or conditions about which the employee has advance knowledge, military leave, or any other personal leave.

 

Upon Termination, the Beneficiary may exercise
his Options within a three (3) month period, as specified in the Notice of Grant, and only for the part of the Options that the
Beneficiary was entitled to exercise at the date of Termination (but in no event later than the expiration of the term of such
Options as set forth in the Notice of Grant). If, at Termination, the Beneficiary is not entitled to exercise his Options, the
Shares covered by the unexercisable portion of Options shall become available again for any future grant in accordance with Article
3. If, after Termination, the Beneficiary does not exercise all of his Options within the time specified in the Notice of Grant,
the Options shall terminate, and the Shares covered by such Options shall become available again for any future grant in accordance
with Article 3.

 

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7.1.2 Exceptions

 

As an exception to the provisions of Article
7.1.1, in case of death of the Beneficiary, his heirs may exercise the Options within six (6) months as from such death (but in
no event later than the expiration of the term of the Option), provided the Beneficiary was authorized to exercise his Options
at the time of his death and within the limits of shares allocated and exercisable. If after the death of the Beneficiary, his
heirs do not exercise the Options within the six (6) month period or the Options expiration date, then the Options shall be null
and void and the Shares covered by such Options shall become available again for any future grant in accordance with Article 3.

 

As an exception to the provisions of Article
7.1.1, in the event that the Beneficiary’s office term or employment relationship is terminated owing to Disability, as such
term is defined below, the Beneficiary may exercise his Options at any time within six (6) months from the date of such Termination,
but only to the extent that these options are exercisable at the time of Termination (but in no event later than the expiration
of the term of such Options). If, at the date of Termination, the Beneficiary is not entitled to exercise all of his Options, the
Shares covered by the unexercised portion of Options shall become available again for any future grant in accordance with Article
3. If after Termination, the Beneficiary does not exercise all of his or her Options within the time specified herein, the Options
shall terminate, and the Shares covered by such Options shall become available again for any future grant in accordance with Article
3.

 

Similarly, the provisions of Article 7.1.1
are not applicable in the event that the Beneficiary decides to retire or his employer decides to pension him as defined in Article
L. 1237-5 of the French Labor Code.

 

For the purposes of this Article 7.1.2
of the Plan:

 

“Disability” means disability
as determined in categories 2 and 3 under Article L. 341-4 of the French Social Security Code and subject to the fulfillment of
related conditions.

 

“Retirement” means that
the employee has reached the age provided in Article L. 1237-5 of the French Labor Code and qualifies for a full pension subject
to the fulfillment of related conditions, or any similar provision applicable to a foreign Affiliated Company.

 

		8.	TERMS AND CONDITIONS OF EXERCISE OF THE OPTIONS

 

8.1 EXERCISE RIGHT SUSPENSION

 

The Board of Directors may suspend the
right to exercise the Options for a maximum duration of three (3) months in case transactions mentioned in Article L. 225-149-1,
al. 1 of the French Commercial Code are carried out.

 

Beneficiaries will be informed of such
suspension period in accordance with Article R. 225-133 of the French Commercial Code.

 

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In the event that the term of the Options
expires or terminates during the suspension period, the term of the Options may be postponed until one (1) more month following
the suspension period.

 

8.2 SCHEDULE FOR EXERCISING OF THE OPTIONS

 

8.2.1 Principle

 

The Options become exercisable as follows:

 

		-	one-sixth of the Options, at the expiration of a period of six (6) months as from the Date of Grant
of the Options by the Board of Directors (the “6 Month Anniversary”); and

		-	with respect to the remaining five-sixths of the Options, one-thirty-sixth of the Options, each
at the expiration of successive one (1) month periods as from the 6 Month Anniversary; and

		-	at the latest within ten (10) years as from the Date of Grant.

 

The number of Options that may be exercised
pursuant to the above vesting schedule will always be rounded down to the nearest full number.

 

If the Beneficiary fails to exercise the
Options in whole or in part within the said period of ten (10) years, the Options will lapse automatically.

 

8.2.2. Exceptions

 

By way of exception, the provisions of
Article 8.2.1 shall not be applicable in the case any of the following operations is implemented:

 

		a)	tender offer, within the meaning of Article L. 433-1 of the French Monetary and Financial Code,
relating to the shares of the Company or, as long as the shares of the Company are listed on the National Association of Securities
Dealers Automated Quotation (NASDAQ), any similar operation carried out according to the NASDAQ regulations;

		b)	exchange offer, within the meaning of Article L. 433-1 of the French Monetary and Financial Code,
relating to the shares of the Company or, as long as the shares of the Company are listed on the NASDAQ, any similar operation
carried out according to the NASDAQ regulations;

		c)	cash tender and exchange offer relating in part to a cash tender offer and in part to an exchange
offer or, as long as the shares of the Company are listed on the NASDAQ, any similar operation carried out according to the NASDAQ
regulations;

		d)	buyout offer within the meaning of Article L. 433-4 of the French Monetary and Financial Code,
relating to the shares of the Company or, as long as the shares of the Company are listed on the National Association of Securities
Dealers Automated Quotation (NASDAQ), any similar operation carried out according to the NASDAQ regulations.; or

		e)	in the event of a merger of the Company into another corporation or of the sale by one or several
shareholders, acting alone or in concert, of the Company to one or several third parties of a number of shares resulting in a transfer
of more than fifty per cent (50%) of the shares of the Company to said third parties (a “Change in Control”).
Notwithstanding the foregoing, a Change in Control must also constitute a “change in control event,” as defined in
Treasury Regulation §1.409A-3(i)(5) with respect to any compensation or benefit that is subject to Section 409A of the U.S.
Code.

 

In the cases mentioned in clauses a) through
d) above, the Beneficiaries shall be entitled to exercise all of their unexercised Options in one or several times as from the
date of delivery of the initial offer (tender offer, exchange offer, cash tender and exchange offer and similar operations on the
NASDAQ) to the relevant authority until the end of the expiration of the term of the Options.

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In the case of a Change in Control as mentioned
in clause e) above, unless otherwise decided by the Board of Directors, all of the Options that remain unexercisable as of immediately
prior to the completion of the Change in Control shall become exercisable immediately prior to the completion of the Change in
Control. Such fully exercisable Options shall then be subject to the terms set forth in Article 10.2.

 

Moreover, as an exception to the exercise
schedule provided in Article 8.2.1 above, in case of death of the Beneficiary, his heirs may exercise the Options within a period
of six (6) months as from the death of the Beneficiary, pursuant to Article 7.1.2.

 

8.3. TIME LIMIT FOR THE EXERCISE OF
THE OPTIONS

 

The Options shall be exercised by the Beneficiary
before the end of a period of ten (10) years as from the Date of Grant, e.g., before June 11, 2031 for a Date of Grant on June
11, 2021.

 

8.4.
TERMS OF EXERCISE OF THE OPTIONS

 

(i) The Options may only be exercised if
all the conditions provided under Articles 7 and 8 of the Plan are satisfied on the date of exercise of the Options.

 

(ii) In order to exercise his or her Options,
the Beneficiary shall send to the legal representative of the Company, a notification indicating the number of Options that he
or she wishes to exercise. The consideration for the Shares to be issued upon exercise of Options shall be paid either by wire
transfer or bank check payable to the Company in an amount equal to the aggregate Purchase Price.

 

(iii) Furthermore, in the event that the
sale of Shares under this Plan is not registered under the U.S. Securities Act of 1933 (the “U.S. Securities Act”)
but an exemption is available which requires an investment representation or other representation, the Beneficiary shall represent
and agree at the time of exercise that the Shares being acquired upon exercising this Option are being acquired for investment,
and not with a view to the sale or distribution thereof, and shall make such other representations as are deemed necessary or appropriate
by the Company and its counsel.

 

(iv) The Beneficiary will have the ownership
and the enjoyment of the Shares on the date of exercise of the Options.

 

		9.	CONDITIONS OF HOLDING AND SALE OF THE SHARES

 

9.1. U.S. SECURITIES LAW RESTRICTIONS

 

The Shares to be issued from exercised
Options have been registered under the U.S. Securities Act and may be offered or sold in the United States or to U.S. persons as
defined under Rule 902 of the U.S. Securities Act.

 

Notwithstanding any other provision of
the Plan or any agreement entered into by the Company pursuant to the Plan, the Company shall not be obligated, and shall have
no liability for failure, to register, issue or deliver any Shares under the Plan unless such issuance or delivery would comply
with applicable U.S. state and Federal laws, including securities laws, with such compliance determined by the Company in consultation
with its legal counsel.

 

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Regardless of whether the offering and
sale of shares under this Plan have been registered under the U.S. Securities Act or have been registered or qualified under the
securities laws of any U.S. state, the Company at its discretion may impose restrictions upon the sale, pledge or other transfer
of such shares (including the placement of appropriate legends on stock certificates or the imposition of stop-transfer instructions)
if, in the judgment of the Company, such restrictions are necessary or desirable in order to achieve compliance with the U.S. Securities
Act, the securities laws of any state or any other law.

 

9.2 EXECUTIVE OFFICERS OF THE COMPANY

 

Without prejudice to the above, 10% of
the Shares subscribed following the exercise of Options by the Chairman  of the Board (président du conseil d’administration),
the Chief Executive Officer (directeur général), and other deputy executive officers (directeurs généraux
délégués) of the Company or of an Affiliated Company having its registered office in France, must be held
in registered form and must not be sold, leased or converted to bearer shares until the mandate as executive officer is over.

 

The amount of Shares to be held shall be
determined by taking into account all the shares already held pursuant to the requirements of the previous plans.

 

		10.	PROTECTION OF THE INTERESTS OF THE BENEFICIARY

 

10.1 GENERAL PROVISIONS

 

In the event of the carrying out by the
Company of any of the financial operations pursuant to Article L. 225-181 of the French Commercial Code as follows:

		-	amortization or decrease of the share
capital,

		-	modification to the allocation of profits,

		-	distribution of free shares,

		-	capitalization of reserves, profits, issuance
premiums,

		-	the issuance of shares or securities giving
right to shares to be subscribed for in cash or by set-off of existing indebtedness offered exclusively to the shareholders,

 

the Company shall take the required measures
to protect the interest of the Beneficiaries in the conditions set forth in Article L. 228-99 of the French Commercial Code.

 

The adjustment will be made in accordance
with the provisions of Article R. 228.91 of the French Commercial Code.

 

10.2 ABSORPTION OF THE COMPANY

 

10.2.1 Transfer of the commitments to the
Beneficiary(ies) of the contributions

 

In the case of a Change in Control or the
Company is otherwise absorbed by another company, merges with one or several other companies to form a new company or split off,
the company(ies) that benefit(s) from the contributions could substitute itself for the Company with respect to its duties toward
the Beneficiary. In this case, the number and the price of the shares under option shall be determined either by applying the exchange
ratio used for the operation, or by applying other terms and conditions defined by the parties to the operation.

 

10.2.2 Absence of transfer of the commitments
to the Beneficiary(ies) of the contributions

 

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In the case the company(ies) that benefit(s)
from the contributions decide(s) not to substitute itself for the Company with respect to its duties toward the Beneficiary, the
Options may be exercised by the Beneficiary within the period notified to him by the Board of Directors by registered letter with
acknowledgement of receipt or letter with discharge. Failing that, the Options will terminate.

 

		11.	REMOVAL FROM LISTING

 

The shares of the Company no longer being
listed on the NASDAQ market or listed on another exchange shall not challenge the rights and obligations of the Beneficiaries as
they are provided herein.

 

		12.	UNAVAILABILITY AND NON-TRANSFERABILITY OF THE OPTIONS

 

Pursuant to Article L. 225-183, paragraph
2 of the French Commercial Code, until the Option has been exercised by the Beneficiary, the corresponding rights are unavailable.

 

An Option may not be sold, pledged, assigned,
hypothecated, transferred or disposed of in any manner other than by will or by laws of descent or distribution and may be exercised,
during the lifetime of the Beneficiary, only by the Beneficiary.

 

However, as it is provided in Article 7.1.2
hereof, in case of death of the Beneficiary, his heirs may exercise the Options within a period of six (6) months as from the death
of the Beneficiary.

 

		13.	AMENDMENT AND TERMINATION OF THE PLAN

 

(a) Amendment and Termination

 

Subject to Article 13(b) hereof, the Board
of Directors may at any time amend, alter, suspend or terminate the Plan to the extent permitted by applicable French or U.S. laws.

 

(b) Effect of amendment and termination

 

No amendment, alteration, suspension or
termination of the Plan shall impair the rights of any Beneficiary, unless mutually agreed otherwise between the Beneficiary and
the Board of Directors, which agreement must be in writing and signed by the Beneficiary and the Company.

 

		14.	LIABILITY OF THE COMPANY

 

14.1.       The
inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority is deemed by any counsel
to the Company to be necessary to the lawful issuance or sale of any shares hereunder, shall relieve the Company of any liability
in respect of the failure to issue or sell such shares as to which such requisite authority shall not have been obtained.

 

14.2.       The
Company and its Affiliates may not be held responsible in any way if the Beneficiary for any reason not attributable to the Company
or its Affiliates was not able to exercise the Options or purchase the Shares.

 

14.3       Each
Beneficiary understands that the Beneficiary may suffer adverse tax consequences as a result of the purchase or disposition of
the Beneficiary’s Shares, for which the Company and its Affiliates shall not be held responsible. In this respect, each Beneficiary
undertakes that it is not relying on the Company for any tax advice.

 

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		15.	INDEPENDENCE OF THE CLAUSES

 

If any provision hereof is held prohibited
or void, at any time, by a competent authority or judicial body, this shall not challenge the remaining provisions that shall be
considered as independent and as having been written or rewritten, depending upon the case, without this prohibited or void provision.

 

		16.	INTERPRETATION

 

It is intended that Options granted under
the Plan shall qualify for the favorable tax and social security charges treatment applicable to Options granted under Sections
L. 225-177 to L. 225-186-1 of the French Commercial Code, the French Tax Code and the French Social Security Code as amended.

 

The terms of the Plan shall be interpreted
accordingly and in accordance with the relevant provisions set forth by French tax and social security laws (in particular, Sections
80 quaterdecies of the French Tax Code), as well as the French tax and social security administrations and the relevant guidelines
released by the French tax and social insurance authorities and subject to the fulfilment of legal, tax and reporting obligations.

 

		17.	APPLICABLE LAW AND COMPETENT TRIBUNALS

 

This Plan shall be governed by and construed
in accordance with the laws of France.

 

The tribunals located within the jurisdiction
of the Court of Appeal of LYON shall be exclusively competent to determine any claim or dispute arising in connection herewith.

 

 

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APPENDIX 1

 

FORM OF OPTION AGREEMENT

 

 

 

 

 

 

 

 

 

 

 

10Exhibit 10.1

 

EXECUTION COPY

 

LOAN SALE AND ASSIGNMENT AGREEMENT

 

THIS LOAN SALE
AND ASSIGNMENT AGREEMENT (the “Agreement”), is made as of the date set forth below Assignee’s signature
hereon (“Effective Date”), by and among HIGH STREET CAPITAL PARTNERS, LLC, a Delaware limited liability company
(“Assignor”) and VIRIDESCENT REALTY TRUST, INC., a Maryland corporation (“Assignee”).

 

BACKGROUND

 

WHEREAS,
Assignor and RWB Florida, LLC, a Delaware limited liability company (the “Borrower”) are parties to that certain
Stock Purchase Agreement dated as of February 24, 2021 (the “SPA”), pursuant to which Assignor sold to
Borrower all of the issued and outstanding equity securities of Acreage Florida, Inc., a Florida corporation (“Acreage”).

 

WHEREAS,
in connection with the SPA and as payment of a portion of the purchase price under the SPA, Assignor was issued (i) that certain
Secured Promissory Note dated April 27, 2021 (the “$18m Note”) from the Borrower evidencing a loan in the
principal amount of Eighteen Million Dollars ($18,000,000) (the “$18m Loan”), and (ii) that certain Secured
Promissory Note dated April 27, 2021 (“$10m Note”, and together with the $18m Note, collectively, the “Notes”)
from the Borrower evidencing a loan in the principal amount of Ten Million Dollars ($10,000,000) (the “$10m Loan”
and together with the $18m Loan, collectively, the “Loans”). As security for the timely payment and performance
by the Borrower under the Notes, the Borrower granted Assignor a lien and security interest in the Pledged Collateral (as defined in that
certain Pledge Agreement dated April 27, 2021 by and between Borrower and Assignor (the “Pledge Agreement”,
and together with the Notes, collectively, the “Loan Documents”)).

 

WHEREAS,
pursuant to the terms and conditions of this Agreement, Assignor desires to sell, and Assignee desires to purchase, all of Assignor’s
right, title and interest in, to and under the Loans and the Loan Documents.

 

NOW,
THEREFORE, in accordance with the terms of this Agreement and for good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged by each party, Assignor and Assignee, intending to be legally bound, hereby agree as follows:

 

1.              Assignment.
Assignor hereby sells, assigns and transfers to Assignee all of Assignor’s right, title and interest in, to and under the Loans
and the Loan Documents, in exchange for payment to Assignor of Twenty-Six Million Dollars ($26,000,000) by wire transfer of immediately
available funds to an account designated by Assignor in writing.

 

2.              Assumption.
Assignee hereby assumes the obligations, and agrees to observe and perform all the covenants, applicable to the Noteholder (as defined
in the Notes) under the Notes, and applicable to the Secured Party (as defined in the Pledge Agreement) under the Pledge Agreement, in
each case to the extent accruing from and after the Effective Date.

 

    

    

    

 

3.              Representations
and Warranties of Assignor. Assignor hereby represents and warrants to Assignee that:

 

(a)            Assignor
is the sole legal and beneficial owner of the Loans and 100% of the rights and interests of the Noteholder (as defined in the Notes) and
the Secured Party (as defined in the Pledge Agreement) under the Loan Documents. Assignor has not assigned or otherwise transferred to
any third party any rights with respect to the Loans or the Loan Documents, or any rights to its interest in the collateral securing the
Loans, and has not released any collateral securing the Loans or modified or terminated its security interest in such collateral, or permitted
Borrower to sell, assign or otherwise transfer any of the collateral securing the Loans. The Loans and Loan Documents, when assigned to
Assignee hereunder, are being assigned free and clear of any and all liens, pledges, charges or security interests of any nature (collectively,
 “Liens”), excluding only the Liens existing in favor of the Secured Party (as defined in the Pledge Agreement)
under the Pledge Agreement.

 

(b)            Assignor
has all right, power, legal capacity and authority to execute and deliver this Agreement and to perform hereunder and under each other
agreement that Assignor may execute and deliver in connection herewith. Assignor is duly organized, validly existing and in good standing
under the laws of the State of Delaware and in all other jurisdictions in which it is authorized to do business.

 

(c)            The
execution, delivery and performance of this Agreement and the consummation of the transactions contemplated by this Agreement have been
duly authorized by all requisite corporate action on the part of Assignor, and do not and will not (i) violate any law, rule, regulation,
order, writ, judgment, injunction, decree, determination or award (collectively, “Laws and Orders ”) presently
in effect having applicability to Assignor or any property of Assignor, (ii) result in a breach or constitute a default under any
agreement to which Assignor is subject (including the Loan Documents), (iii) result in a violation or breach of any provision of
the certificate of formation, operating agreement or other constituting or governing document of Assignor, or (iv) require any authorizations,
consents, approvals, licenses, exemptions from or filings or registrations with any state, commonwealth, federal, foreign, territorial,
regulatory, or other governmental department, commission, board, bureau, agency or instrumentality (collectively, “Government
Authorities”).

 

(d)            This
Agreement constitutes the legal, valid and binding obligation of Assignor enforceable against Assignor in accordance with its terms and
is entered into voluntarily by all parties. The transaction represented hereby is an arms-length transaction for fair value.

 

(e)            The
outstanding principal balance of the $18m Loan is $18,000,000. The outstanding principal balance of the $10m Loan is $10,000,000. Borrower
has not prepaid any principal, interest or other sums under the Notes. The proceeds of the Loans have been fully disbursed (or deemed
disbursed) and there are no holdbacks and there is no requirement for future advances thereunder or under the Loan Documents.

 

(f)             Assignor
has dealt with no broker or similar person in connection with entering into this Agreement.

 

(g)            Assignor
is not in default under any of the Loan Documents, and to the knowledge of Assignor, no event has occurred and no circumstance
exists which, with or without notice or the passage of time or both, would result a default under any of the Loan Documents by
Assignor or Borrower. Assignor has not received or given any notice of any default under any of the Loan Documents and no party to
any of the Loan Documents has exercised any termination rights with respect thereto.

 

    2

    

    

 

(h)            To
the knowledge of Assignor, Borrower has not (i) sold, assigned, transferred, encumbered, disposed of or pledged any of the Pledged
Collateral (as defined in the Pledge Agreement) or any part thereof or interest therein, or (ii) assigned any of the Loan Documents
or any of its rights thereunder, or delegated any of its obligations thereunder.

 

(i)             Assignor
has complied in all respects with the provisions of paragraph 13 of the Notes. More than five Business Days (as defined in the Notes)
have elapsed since Assignor gave written notice of the transactions contemplated in this Agreement (the “Transactions”)
to Borrower, and (i) either (x) Borrower has not exercised the ROFR (as defined in the Notes) or given notice of its intent
to exercise the ROFR (as defined in the Notes), or (y) Borrower has waived the ROFR (as defined in the Notes) in writing, and (ii) either
(x) Borrower has provided written consent to the Transactions, or (y) Borrower has not notified Assignor that Borrower is withholding,
delaying or conditioning its consent to the Transactions.

 

(j)             Attached
hereto as Composite Exhibit A are true and correct copies of the Loan Documents. The Loan Documents have not been amended
or modified and no provision thereof has been waived by any party thereto. The Loan Documents were executed and delivered electronically,
and no manual “wet ink” signatures exist.

 

(k)            Assignor
currently has, and, upon the consummation of the Transactions, Assignee will receive from Assignor and thereafter have, a fully perfected,
first-priority security interest in the Pledged Collateral (as defined in the Pledge Agreement). Such security interest is, to the knowledge
of Assignor, free and clear of any Liens of third parties.

 

(l)             Attached
hereto as Composite Exhibit B are true and correct copies of all certificates representing the Shares (as defined in the Pledge
Agreement) (the “Share Certificates”), and a stock power for the Shares (as defined in the Pledge Agreement)
in favor of Assignor, duly endorsed in blank by Borrower (the “Stock Power”).

 

(m)           Assignor
has not received notice that Borrower does not intend to repay the Loans in full when due. To the knowledge of Assignor, neither Borrower
nor Acreage (i) is insolvent, (ii) is a debtor in any proceeding under any law relating to bankruptcy or insolvency, (iii) has
made, or intends to make, an assignment for the benefit of creditors.

 

(n)            The
recitals set forth on the first page of this Agreement (the “Recitals”) are true and correct.

 

4.              Indemnity.
The representations, warranties and covenants of Assignor herein shall survive the consummation of the Transactions. Assignor shall
indemnify, defend (with counsel reasonably acceptable to Assignee) and hold the Assignor and its successors and assigns harmless
from and against any and all liabilities, claims, actions or causes of action, assessments, losses, fines, penalties, costs, losses,
damages and expenses, including attorney’s fees sustained or incurred by the Assignor or its successors and assigns, as a
result of, or arising out of, or by virtue of: (a) the inaccuracy of any representation or warranty made by Assignor herein; or
(b) a breach by Assignor of any of the covenants of this Agreement to be performed by Assignor; or (c) any and all
liabilities arising out of any claim based upon breach of contract or the tortious or unlawful acts or omissions of the Assignor in
regard to the Loans or Loan Documents; or (d) the invalidity or unenforceability of the Loan Documents as a result of their
execution by electronic means.

 

    3

    

    

 

5.              Further
Assurances. Assignor agrees to execute and/or deliver to Assignee such further instruments, agreements and documents as Assignee may
reasonably require including, without limitation, assignments in recordable form, if necessary, of any Loan Documents and any UCC-3 form
required to evidence the transfer to Assignee of any security interest in the Pledged Collateral (as defined in the Pledge Agreement).
Without limiting the generality of the foregoing, promptly following the Effective Date Assignor shall deliver all of the Pledged Collateral
(as defined in the Pledge Agreement) in its possession, custody or control to Assignee, including, without limitation, the original Share
Certificates and Stock Power.

 

6.              Governing
Law and Venue. This Agreement and the rights and obligations of the parties hereunder shall be governed by and construed and enforced
in accordance with the laws of the State of New York, without regard to its conflicts of laws principles. Any legal or equitable action
arising out of this Agreement may be brought in the Federal and state courts in and for New York County, New York. Each party hereby irrevocably
submits to the non-exclusive jurisdiction of such courts for the adjudication of any dispute brought hereunder, in connection herewith
or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of this Agreement), and hereby
irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction
of any such court, that such suit, action or proceeding is improper. Each party hereby irrevocably waives personal service of process
and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail
or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees
that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed
to limit in any way any right to serve process in any manner permitted by law.

 

7.              Release.
Assignor, for itself and on behalf of its successors and assigns, hereby releases and forever discharges Assignee and Assignee’s
shareholders, directors and officers (collectively, the “Released Parties”), from any and all actions, causes
of action, suits, controversies, damages, claims, and demands whatsoever, in law or in equity (collectively, “Claims”),
that Assignor has or may have against any of the Released Parties arising out of or relating in any way to the transactions contemplated
by this Agreement, including under the LOI and the negotiations and acts of the Released Parties leading up to the execution of this Agreement,
from the beginning of time through the Effective Date, whether known or unknown; provided, however, that nothing in this paragraph
shall release or discharge Assignee or any person or entity from (i) any Claims for fraud or other intentional misconduct, or (ii) the
provisions of this Agreement or any breach thereof.

 

8.              Assignment,
Amendment and Waiver. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and permitted assigns. No party may assign this Agreement without the prior written consent of the other party; provided,
however, for avoidance of doubt, nothing herein shall prohibit Assignee from selling, transferring or assigning the Loans or
Loan Documents or any rights therein to subsequent purchasers or transferees. This Agreement may not be amended, waived, discharged
or terminated orally, but only by an instrument in writing signed by the party against which enforcement of such amendment, waiver,
discharge or termination is sought.

 

    4

    

    

 

9.              Counterparts
.. This Agreement may be executed electronically (e.g., www.docusign.com) and in any number of
separate counterparts, with the same force and effect as manual signatures, each of which when so executed shall be deemed an original,
and all such counterparts shall together constitute one and the same instrument.

 

10.              Entire
Agreement. This Agreement contains the entire agreement of the parties with respect to the subject matter hereof and, except as set
forth herein, there are no other agreements, understandings, representations or warranties with respect to such subject matter. This Agreement
supersedes, in its entirety, that certain Letter of Intent between Assignor and Assigned dated June 1, 2021 (the “LOI”).
The Recitals are incorporated into this Agreement as a material part hereof.

 

11.              Severability.
In case any provision in this Agreement shall be held by a court of competent jurisdiction to be invalid, illegal or unenforceable, such
provision shall be severable from the remainder of this Agreement and the validity, legality, and enforceability of the remaining provisions
shall not in any way be affected or impaired thereby.

 

12.              Expenses.
Each of Assignor and Assignee shall bear their own attorneys’ fee and costs incurred in connection with this Agreement.

 

13.              Construction.
The parties acknowledge that each party and its counsel has reviewed this Agreement and the parties hereby agree that any ambiguities
in this Agreement shall not be construed against any party by virtue of its authorship of this Agreement. Captions and headings in this
Agreement are for convenience only and shall not affect the construction of this Agreement.

 

		14.	Time. Time is of the essence in the performance of this Agreement.

 

[Signature Page Follows]

 

    5

    

    

 

IN WITNESS WHEREOF,
the parties hereto have executed and delivered this Agreement as of the date set forth below Assignee’s signature.

 

	 	Assignor:
	 	 
	 	HIGH STREET CAPITAL PARTNERS, LLC
	 	 
	 	/s/ Robert Daino
	 	Name: Robert Daino
	 	Title: Chief Operating Officer
	 	 
	 	Assignee:
	 	 
	 	VIRIDESCENT REALTY TRUST, INC.
	 	 
	 	/s/ Dante Domenichelli
	 	Name: Dante Domenichelli
	 	Title: Chief Operating Officer

 

	 	Date: 	 	6/11/2021	 

 

    6

    

    

 

COMPOSITE EXHIBIT A

 

LOAN DOCUMENTS

 

[attached]

 

    

    

    

 

SECURED PROMISSORY NOTE

 

	 $10,000,000.00	April 27, 2021

 

FOR
VALUE RECEIVED, RWB FLORIDA, LLC, a Delaware limited liability company (the “Borrower”)
hereby unconditionally promises to pay to the order of HIGH STREET CAPITAL PARTNERS, LLC, a Delaware limited liability company (the “Noteholder”)
the principal amount of Ten Million and No/100 Dollars ($10,000,000.00) (the “Loan”), together with all
accrued interest thereon, as provided in this Promissory Note (this “Note”).

 

		1.	Payment Dates.

 

(a)             Payment
of Principal Amount. The aggregate unpaid principal amount of the Loan shall be due and payable on November 27, 2021.

 

(b)             Payment
of Interest. All accrued and unpaid interest and all other amounts payable under this Note shall be due and payable on the thirteen
month anniversary hereof.

 

(c)             Prepayment.
The Borrower may prepay the Loan in whole or in part at any time or from time to time without penalty or premium by paying the principal
amount to be prepaid together with accrued interest thereon to the date of prepayment.

 

		2.	Interest.

 

(a)             Interest
Rate. Except as provided in Section 2(b), principal amounts outstanding under this Note shall bear interest at a rate per annum
(the “Interest Rate”) equal to Eight Percent (8.0%) per annum.

 

(b)             Default
Interest. If any amount payable hereunder is not paid when due (without regard to any applicable grace period), whether at stated
maturity, by acceleration, or otherwise, such overdue amount shall bear interest at the Interest Rate plus Two Percent (2.0%) (the “Default
Rate”).

 

(c)             Computation
of Interest. All computations of interest hereunder shall be made on the basis of a year of 365/366 days, as the case may be, and
the actual number of days elapsed. Interest shall begin to accrue on the Loan on the date of this Note. On any portion of the Loan that
is repaid, interest shall not accrue on the date on which such payment is made.

 

(d)             Interest
Rate Limitation. If at any time the interest rate payable on the Loan shall exceed the maximum rate of interest permitted under applicable
law, such interest rate shall be reduced automatically to the maximum rate permitted.

 

		3.	Payment Mechanics.

 

(a)             Manner
of Payment. All payments of principal and interest shall be made in US dollars no later than 12:00 PM EST on the date on which such
payment is due. Such payments shall be made by wire transfer of immediately available funds to the Noteholder’s account at a bank
specified by the Noteholder in writing to the Borrower from time to time.

 

    

    

    

 

(b)             Application
of Payments. All payments shall be applied, first, to fees or charges outstanding under this Note, second, to accrued
interest, and, third, to principal outstanding under this Note.

 

(c)             Business
Day. Whenever any payment hereunder is due on a day that is not a Business Day, such payment shall be made on the next succeeding
Business Day, and interest shall be calculated to include such extension. “Business Day” means a day
other than Saturday, Sunday, or other day on which commercial banks in Miami, Florida or Toronto, Ontario are authorized or required by
law to close.

 

4.              Grant
of Security Interest. To secure the timely payment and performance by Borrower of its obligations under this Note, Borrower hereby
grants to Noteholder a security interest in the Pledged Collateral (as such term is defined in the Pledge Agreement) in accordance with
the terms and conditions of that certain Pledge Agreement dated of even date herewith by Borrower in favor of Noteholder (the “Pledge
Agreement”).

 

		5.	Representations and Warranties. The Borrower represents and warrants to the Noteholder as follows:

 

(a)             Existence.
The Borrower is a limited liability company duly formed, validly existing, and in good standing under the laws of the state of its organization.
The Borrower has the requisite power and authority to own, lease, and operate its property, and to carry on its business.

 

(b)             Power
and Authority. The Borrower has the requisite power and authority to execute, deliver, and perform its obligations under this Note.

 

(c)             Authorization;
Execution and Delivery. The execution and delivery of this Note by the Borrower and the performance of its obligations hereunder have
been duly authorized by all necessary company action in accordance with applicable law. The Borrower has duly executed and delivered this
Note.

 

		6.	Negative Covenants.

 

(a)             The
Borrower shall not, either directly or indirectly, create, assume, incur or suffer or permit to exist any lien, security interests, encumbrance
or charge of any kind or character upon the Pledged Collateral.

 

(b)             The
Borrower shall not sell, transfer, license, lease, convey or otherwise dispose of all or any part of its interest in the Pledged Collateral.

 

7.              Events
of Default. The occurrence and continuance of any of the following shall constitute an “Event of Default”
hereunder:

 

(a)             Failure
to Pay. The Borrower fails to pay any principal amount of the Loan or any interest on the Loan when due.

 

(b)             Breach
of Representations and Warranties. Any representation or warranty made by the Borrower to the Noteholder herein contains an
untrue or misleading statement of a material fact as of the date made; provided, however, no Event of Default shall be
deemed to have occurred pursuant to this Section 7(b) if, within thirty (30) days of the date on which the Borrower
receives notice of such untrue or misleading statement, Borrower shall have addressed the adverse effects of such untrue or
misleading statement to the reasonable satisfaction of the Noteholder.

 

    2

    

    

 

(c)         Breach
of Covenants. The Borrower fails to perform or comply with any of the terms, covenants or conditions of this Note (other than as provided
in clause (a) above) or the Pledge Agreement and such failure continues and is not cured for a period of thirty (30) days after receipt
by the Borrower of written notice of such default.

 

(d)         Bankruptcy.
The Borrower shall have (i) made a general assignment for the benefit of creditors, (ii) filed a voluntary petition, or been
the subject of an involuntary petition, in bankruptcy under the laws of the United States or any state, which remains undismissed, undischarged
or unbonded for a period of sixty (60) days, or (iii) declared or admitted in writing that Borrower is insolvent or unable to pay
his debts as they become due, or (vii) taken, or omitted to take, any action to effect any of the foregoing.

 

(e)         Invalidity
of the Pledge Agreement. Any material provision of the Pledge Agreement, at any time after its execution and delivery and for any
reason, ceases to be in full force and effect or ceases to create a valid and perfected lien on the Pledged Collateral with the priority
expressed in the Pledge Agreement, or Borrower contests the validity or enforceability of the any material provision of the Pledge Agreement
or purports to revoke or rescind the Pledge Agreement.

 

8.              Remedies.
Upon the occurrence and during the continuance of an Event of Default, in addition to the remedies provided in the Pledge Agreement, the
Noteholder may, at its option, by written notice to the Borrower (i) declare the outstanding principal amount of the Loan, accrued
and unpaid interest thereon, and all other amounts payable hereunder immediately due and payable, (ii) enforce any rights the Noteholder
may have against the Pledged Collateral under the Pledge Agreement, and (iii) exercise any other rights and remedies available to
Noteholder under or pursuant to applicable law or agreement or in equity.

 

 9.              Time is of the Essence. TIME IS OF THE ESSENCE with respect to this Note.

 

10.            Notices.
All notices and other communications relating to this Note shall be in writing and shall be deemed given upon the first to occur of (x) deposit
with the United States Postal Service or overnight courier service, properly addressed and postage prepaid; (y) transmittal by facsimile
or e-mail properly addressed (with written acknowledgment from the intended recipient such as “return receipt requested” function,
return e-mail, or other written acknowledgment); or (z) actual receipt by an employee or agent of the other party. Notices hereunder
shall be sent to the following addresses, or to such other address as such party shall specify in writing:

 

		(a)	If to the Borrower:

 

Red White & Bloom Brands, Inc.

789 West Pender Street, Suite 810

 Vancouver, British
Columbia V6C 1H2 

Attention: Brad Rogers

E-mail: brad.rogers@redwhitebloom.com

 

		(b)	If to the Noteholder:

 

High Street Capital Partnes, LLC 450
Lexington Avenue, #3308

New York, New York 10163

Attention: James Doherty, Esquire

E-mail: j.doherty@acreageholdings.com

 

    3

    

    

 

11.            Governing
Law. This Note and any claim, controversy, dispute, or cause of action (whether in contract, tort, or otherwise) based on, arising
out of, or relating to this Note and the transactions contemplated hereby shall be governed by and construed in accordance with the laws
of the State of Delaware.

 

		12.	Disputes.

 

		(a)	Submission to Jurisdiction.

 

(i)           The
Borrower irrevocably and unconditionally (A) agrees that any action, suit, or proceeding arising from or relating to this Note may
be brought in the state courts located in Wilmington, Delaware (and for the avoidance of all doubt, not in any federal court), and (B) submits
to the exclusive jurisdiction of such courts in any such action, suit, or proceeding. Final judgment against the Borrower in any such
action, suit, or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner
provided by law.

 

(ii)          Nothing
in this Section 12(a) shall affect the right of the Noteholder to bring any action, suit, or proceeding relating to this Note
against the Borrower or its properties in the courts of any other jurisdiction.

 

(iii)         Nothing
in this Section 12(a) shall affect the right of the Noteholder to serve process upon the Borrower in any manner authorized by
the laws of any such jurisdiction.

 

(b)           Venue.
The Borrower irrevocably and unconditionally waives, to the fullest extent permitted by law, (i) any objection that it may now or
hereafter have to the laying of venue in any action, suit, or proceeding relating to this Note in any court referred to in Section 12(a),
and (ii) the defense of inconvenient forum to the maintenance of such action, suit, or proceeding in any such court.

 

(c)            Waiver
of Jury Trial. THE BORROWER HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE
TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY RELATING TO THIS NOTE OR THE TRANSACTIONS CONTEMPLATED HEREBY, WHETHER
BASED ON CONTRACT, TORT, OR ANY OTHER THEORY.

 

13.            Successors
and Assigns. This Note may not be assigned or transferred by the Borrower. This Note may be assigned or transferred by the
Noteholder, upon the prior written consent of the Borrower (such consent not to be unreasonably conditioned, withheld or delayed);
provided, however, that any such assignment or transfer by the Noteholder must comply with any and all applicable laws; provided,
further, that, if the Noteholder proposes to assign or transfer this Note at a discount, the Noteholder shall provide Borrower a
right of first refusal to repurchase this Note on the same terms as the proposed assignment (the “ROFR”). The Noteholder
shall provide Borrower with the ROFR at least five (5) Business Days’ prior to the third party assignment contemplated
therein. For the avoidance of doubt, if Borrower does not exercise its ROFR within such five (5) Business Day time period, or
provide notice that it is withholding consent (such consent not to be unreasonably conditioned, withheld or delayed), the Noteholder
may assign or transfer the Note as contemplated to the third party.

 

    4

    

    

 

14.            Integration.
This Note constitutes the entire contract between the Borrower and the Noteholder with respect to the subject matter hereof and supersedes
all previous agreements and understandings, oral or written, with respect thereto.

 

15.           Amendments
and Waivers. No term of this Note may be waived, modified, or amended, except by an instrument in writing signed by the Borrower and
the Noteholder. Any waiver of the terms hereof shall be effective only in the specific instance and for the specific purpose given.

 

16.            No
Waiver; Cumulative Remedies. No failure by the Noteholder to exercise and no delay in exercising any right, remedy, or power hereunder
shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, or power hereunder preclude any other
or further exercise thereof or the exercise of any other right, remedy, or power. The rights, remedies, and powers herein provided are
cumulative and not exclusive of any other rights, remedies, or powers provided by law. Acceptance by Noteholder of any payment in an amount
less than the amount then due shall be deemed an acceptance on account only, and the failure to pay the entire amount then due shall be
and continue to be an Event of Default.

 

17.            Severability.
If any term or provision of this Note is invalid, illegal, or unenforceable in any jurisdiction, such invalidity, illegality, or unenforceability
shall not affect any other term or provision of this Note or render such term or provision invalid or unenforceable in any other jurisdiction.

 

18.            Note
as Security Agreement. This Note is intended to serve as a security agreement between Borrower and Noteholder, as such term is defined
in the Delaware Uniform Commercial Code.

 

19.            Rate
of Interest. This Note is subject to the express condition that if a court of competent jurisdiction should declare that the Borrower’s
obligation to pay interest on the principal balance due hereunder is at a rate which could subject the Noteholder to either civil or criminal
liability as a result of the rate being in excess of the maximum interest rate which the Borrower is permitted by law to contract or agree
to pay, giving due consideration to the execution date of this Note, then, in such event, the rate of interest under this Note shall be
deemed to be immediately reduced to such maximum rate and all previous payments in excess of the maximum rate shall be deemed to have
been payments in the reduction of principal and not the interest due under this Note.

 

20.            Counterparts.
This Note and any amendments, waivers, consents, or supplements hereto may be executed in counterparts, each of which shall constitute
an original, but all of which taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page to
this Note by facsimile or in electronic (“pdf” or “tif”) format shall be as effective as delivery of a manually
executed counterpart of this Note.

 

21.            Electronic
Execution. The words “execution,” “signed,” “signature,” and words of similar import in this
Note shall be deemed to include electronic and digital signatures and the keeping of records in electronic form, each of which shall
be of the same effect, validity, and enforceability as manually executed signatures and paper-based recordkeeping systems, to the
extent and as provided for under applicable law, including the Electronic Signatures in Global and National Commerce Act of 2000 (15
U.S.C. § 7001 et seq.), the Electronic Signatures and Records Act of 1999 (N.Y. State Tech. Law §§ 301-309),
and any other similar state laws based on the Uniform Electronic Transactions Act.

 

[Signatures contained on following page.]

 

    5

    

    

 

IN WITNESS WHEREOF, the Borrower has executed this Note as of the date
set forth above.

 

	 	RWB FLORIDA, LLC
	 	 	 
		By:	/s/ Brad Rogers
	 	 	 
	 	 	Name: Brad Rogers
	 	 	 
	 	 	Title: CEO

 

 

	ACKNOWLEDGED AND ACCEPTED BY:	 
	 	 	 
	High Street Capital Partners, LLC	 
	 	 	 
	By: Acreage Holdings America, its Managing Member	 
	 	 	 
	By:	/s/ Kevin Murphy	 
	 	 	 
	 	Name: Kevin Murphy	 
	 	 	 
	 	Title: President	 

 

[Signature page to Secured Promissory Note ($10,000,000)]

 

     

     

    

 

SECURED PROMISSORY NOTE

 

	$18,000,000.00	April 27, 2021

 

FOR
VALUE RECEIVED, RWB FLORIDA, LLC, a Delaware limited liability company (the “Borrower”)
hereby unconditionally promises to pay to the order of HIGH STREET CAPITAL PARTNERS, LLC, a Delaware limited liability company (the “Noteholder”)
the principal amount of Eighteen Million and No/100 Dollars ($18,000,000.00) (the “Loan”), together with
all accrued interest thereon, as provided in this Promissory Note (this “Note”).

 

		1.	Payment Dates.

 

(a)            Payment
Date. The aggregate unpaid principal amount of the Loan, all accrued and unpaid interest, and all other amounts payable under this
Note shall be due and payable on May 27, 2022.

 

(b)            Prepayment.
The Borrower may prepay the Loan in whole or in part at any time or from time to time without penalty or premium by paying the principal
amount to be prepaid together with accrued interest thereon to the date of prepayment.

 

		2.	Interest.

 

(a)            Interest
Rate. Except as provided in Section 2(b), principal amounts outstanding under this Note shall bear interest at a rate per annum
(the “Interest Rate”) equal to Eight Percent (8.0%) per annum.

 

(b)            Default
Interest. If any amount payable hereunder is not paid when due (without regard to any applicable grace period), whether at stated
maturity, by acceleration, or otherwise, such overdue amount shall bear interest at the Interest Rate plus Two Percent (2.0%) (the “Default
Rate”).

 

(c)            Computation
of Interest. All computations of interest hereunder shall be made on the basis of a year of 365/366 days, as the case may be, and
the actual number of days elapsed. Interest shall begin to accrue on the Loan on the date of this Note. On any portion of the Loan that
is repaid, interest shall not accrue on the date on which such payment is made.

 

(d)           Interest
Rate Limitation. If at any time the interest rate payable on the Loan shall exceed the maximum rate of interest permitted under applicable
law, such interest rate shall be reduced automatically to the maximum rate permitted.

 

		3.	Payment Mechanics.

 

(a)            Manner
of Payment. All payments of principal and interest shall be made in US dollars no later than 12:00 PM EST on the date on which such
payment is due. Such payments shall be made by wire transfer of immediately available funds to the Noteholder’s account at a bank
specified by the Noteholder in writing to the Borrower from time to time.

 

(b)            Application
of Payments. All payments shall be applied, first, to fees or charges outstanding under this Note, second, to accrued
interest, and, third, to principal outstanding under this Note.

 

    1

    

    

 

(c)            Business
Day. Whenever any payment hereunder is due on a day that is not a Business Day, such payment shall be made on the next succeeding
Business Day, and interest shall be calculated to include such extension. “Business Day” means a day
other than Saturday, Sunday, or other day on which commercial banks in Miami, Florida or Toronto, Ontario are authorized or required by
law to close.

 

4.              Grant
of Security Interest. To secure the timely payment and performance by Borrower of its obligations under this Note, Borrower hereby
grants to Noteholder a security interest in the Pledged Collateral (as such term is defined in the Pledge Agreement) in accordance with
the terms and conditions of that certain Pledge Agreement dated of even date herewith by Borrower in favor of Noteholder (the “Pledge
Agreement”).

 

		5.	Representations and Warranties. The Borrower represents and warrants to the Noteholder as
                                                              follows:

 

(a)            Existence.
The Borrower is a limimted liability company duly formed, validly existing, and in good standing under the laws of the state of its organization.
The Borrower has the requisite power and authority to own, lease, and operate its property, and to carry on its business.

 

(b)            Power
and Authority. The Borrower has the requisite power and authority to execute, deliver, and perform its obligations under this Note.

 

(c)            Authorization;
Execution and Delivery. The execution and delivery of this Note by the Borrower and the performance of its obligations hereunder have
been duly authorized by all necessary company action in accordance with applicable law. The Borrower has duly executed and delivered this
Note.

 

		6.	Negative Covenants.

 

(a)            The
Borrower shall not, either directly or indirectly, create, assume, incur or suffer or permit to exist any lien, security interests, encumbrance
or charge of any kind or character upon the Pledged Collateral.

 

(b)           The
Borrower shall not sell, transfer, license, lease, convey or otherwise dispose of all or any part of its interest in the Pledged Collateral

 

7.              Events
of Default. The occurrence and continuance of any of the following shall constitute an “Event of Default”
hereunder:

 

(a)            Failure
to Pay. The Borrower fails to pay any principal amount of the Loan or any interest on the Loan when due.

 

(b)            Breach
of Representations and Warranties. Any representation or warranty made by the Borrower to the Noteholder herein contains an untrue
or misleading statement of a material fact as of the date made; provided, however, no Event of Default shall be deemed to
have occurred pursuant to this Section 7(b) if, within thirty (30) days of the date on which the Borrower receives notice of
such untrue or misleading statement, Borrower shall have addressed the adverse effects of such untrue or misleading statement to the reasonable
satisfaction of the Noteholder.

 

    2

    

    

 

(c)            Breach
of Covenants. The Borrower fails to perform or comply with any of the terms, covenants or conditions of this Note (other than as provided
in clause (a) above) or the Pledge Agreement and such failure continues and is not cured for a period of thirty (30) days after receipt
by the Borrower of written notice of such default.

 

(d)            Bankruptcy.
The Borrower shall have (i) made a general assignment for the benefit of creditors, (ii) filed a voluntary petition, or been
the subject of an involuntary petition, in bankruptcy under the laws of the United States or any state, which remains undismissed, undischarged
or unbonded for a period of sixty (60) days, or (iii) declared or admitted in writing that Borrower is insolvent or unable to pay
his debts as they become due, or (vii) taken, or omitted to take, any action to effect any of the foregoing.

 

(e)            Invalidity
of the Pledge Agreement. Any material provision of the Pledge Agreement, at any time after its execution and delivery and for any
reason, ceases to be in full force and effect or ceases to create a valid and perfected lien on the Pledged Collateral with the priority
expressed in the Pledge Agreement, or Borrower contests the validity or enforceability of the any material provision of the Pledge Agreement
or purports to revoke or rescind the Pledge Agreement.

 

8.              Remedies.
Upon the occurrence and during the continuance of an Event of Default, in addition to the remedies provided in the Pledge Agreement, the
Noteholder may, at its option, by written notice to the Borrower (i) declare the outstanding principal amount of the Loan, accrued
and unpaid interest thereon, and all other amounts payable hereunder immediately due and payable, (ii) enforce any rights the Noteholder
may have against the Pledged Collateral under the Pledge Agreement, and (iii) exercise any other rights and remedies available to
Noteholder under or pursuant to applicable law or agreement or in equity.

 

		9.	Time is of the Essence. TIME IS OF THE ESSENCE with respect to this Note.

 

10.            Notices.
All notices and other communications relating to this Note shall be in writing and shall be deemed given upon the first to occur of (x) deposit
with the United States Postal Service or overnight courier service, properly addressed and postage prepaid; (y) transmittal by facsimile
or e-mail properly addressed (with written acknowledgment from the intended recipient such as “return receipt requested” function,
return e-mail, or other written acknowledgment); or (z) actual receipt by an employee or agent of the other party. Notices hereunder
shall be sent to the following addresses, or to such other address as such party shall specify in writing:

 

		(a)	If to the Borrower:

 

Red White & Bloom Brands, Inc.

 789 West Pender
Street, Suite 810

Vancouver, British Columbia V6C 1H2 

Attention: Brad Rogers

E-mail: brad.rogers@redwhitebloom.com

 

		(b)	If to the Noteholder:

 

High Street Capital Partnes, LLC 

450 Lexington Avenue, #3308

New York, New York 10163 

Attention: James Doherty, Esquire

E-mail: j.doherty@acreageholdings.com

 

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11.            Governing
Law. This Note and any claim, controversy, dispute, or cause of action (whether in contract, tort, or otherwise) based on, arising
out of, or relating to this Note and the transactions contemplated hereby shall be governed by and construed in accordance with the laws
of the State of Delaware.

 

		12.	Disputes.

 

		(a)	Submission to Jurisdiction.

 

(i)           The
Borrower irrevocably and unconditionally (A) agrees that any action, suit, or proceeding arising from or relating to this Note may
be brought in the state courts located in Wilmington, Delaware (and for the avoidance of all doubt, not in any federal court), and (B) submits
to the exclusive jurisdiction of such courts in any such action, suit, or proceeding. Final judgment against the Borrower in any such
action, suit, or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner
provided by law.

 

(ii)          Nothing
in this Section 12(a) shall affect the right of the Noteholder to bring any action, suit, or proceeding relating to this Note
against the Borrower or its properties in the courts of any other jurisdiction.

 

(iii)         Nothing
in this Section 12(a) shall affect the right of the Noteholder to serve process upon the Borrower in any manner authorized by
the laws of any such jurisdiction.

 

(b)           Venue.
The Borrower irrevocably and unconditionally waives, to the fullest extent permitted by law, (i) any objection that it may now or
hereafter have to the laying of venue in any action, suit, or proceeding relating to this Note in any court referred to in Section 12(a),
and (ii) the defense of inconvenient forum to the maintenance of such action, suit, or proceeding in any such court.

 

(c)            Waiver
of Jury Trial. THE BORROWER HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE
TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY RELATING TO THIS NOTE OR THE TRANSACTIONS CONTEMPLATED HEREBY, WHETHER
BASED ON CONTRACT, TORT, OR ANY OTHER THEORY.

 

13.            Successors
and Assigns. This Note may not be assigned or transferred by the Borrower. This Note may be assigned or transferred by the
Noteholder, upon the prior written consent of the Borrower (such consent not to be unreasonably conditioned, withheld or delayed); provided, however,
that any such assignment or transfer by the Noteholder must comply with any and all applicable laws; provided, further,
that, if the Noteholder proposes to assign or transfer this Note at a discount, the Noteholder shall provide Borrower a right of
first refusal to repurchase this Note on the same terms as the proposed assignment (the “ROFR”).
The Noteholder shall provide Borrower with the ROFR at least five
(5) Business Days’ prior to the third party assignment
contemplated therein. For the avoidance of doubt, if Borrower does not exercise its ROFR within such five (5) Business Day time
period, or provide notice that it is withholding consent (such consent not to be unreasonably conditioned, withheld or delayed), the
Noteholder may assign or transfer the Note as contemplated to the third party.

 

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14.            Integration.
This Note constitutes the entire contract between the Borrower and the Noteholder with respect to the subject matter hereof and supersedes
all previous agreements and understandings, oral or written, with respect thereto.

 

15.            Amendments
and Waivers. No term of this Note may be waived, modified, or amended, except by an instrument in writing signed by the Borrower and
the Noteholder. Any waiver of the terms hereof shall be effective only in the specific instance and for the specific purpose given.

 

16.            No
Waiver; Cumulative Remedies. No failure by the Noteholder to exercise and no delay in exercising any right, remedy, or power hereunder
shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, or power hereunder preclude any other
or further exercise thereof or the exercise of any other right, remedy, or power. The rights, remedies, and powers herein provided are
cumulative and not exclusive of any other rights, remedies, or powers provided by law. Acceptance by Noteholder of any payment in an amount
less than the amount then due shall be deemed an acceptance on account only, and the failure to pay the entire amount then due shall be
and continue to be an Event of Default.

 

17.            Severability.
If any term or provision of this Note is invalid, illegal, or unenforceable in any jurisdiction, such invalidity, illegality, or unenforceability
shall not affect any other term or provision of this Note or render such term or provision invalid or unenforceable in any other jurisdiction.

 

18.            Note
as Security Agreement. This Note is intended to serve as a security agreement between Borrower and Noteholder, as such term is defined
in the Delaware Uniform Commercial Code.

 

19.            Rate
of Interest. This Note is subject to the express condition that if a court of competent jurisdiction should declare that the Borrower’s
obligation to pay interest on the principal balance due hereunder is at a rate which could subject the Noteholder to either civil or criminal
liability as a result of the rate being in excess of the maximum interest rate which the Borrower is permitted by law to contract or agree
to pay, giving due consideration to the execution date of this Note, then, in such event, the rate of interest under this Note shall be
deemed to be immediately reduced to such maximum rate and all previous payments in excess of the maximum rate shall be deemed to have
been payments in the reduction of principal and not the interest due under this Note.

 

20.            Counterparts.
This Note and any amendments, waivers, consents, or supplements hereto may be executed in counterparts, each of which shall constitute
an original, but all of which taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page to
this Note by facsimile or in electronic (“pdf” or “tif”) format shall be as effective as delivery of a manually
executed counterpart of this Note.

 

21.            Electronic
Execution. The words “execution,” “signed,” “signature,” and words of similar import in this
Note shall be deemed to include electronic and digital signatures and the keeping of records in electronic form, each of which shall
be of the same effect, validity, and enforceability as manually executed signatures and paper-based recordkeeping systems, to the
extent and as provided for under applicable law, including the Electronic Signatures in Global and National Commerce Act of 2000 (15
U.S.C. § 7001 et seq.), the Electronic Signatures and Records Act of 1999 (N.Y. State Tech. Law §§ 301-309),
and any other similar state laws based on the Uniform Electronic Transactions Act.

 

[Signatures contained on following page.]

 

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IN WITNESS WHEREOF, the Borrower has executed this Note as of the date
set forth above.

 

	 	RWB FLORIDA, LLC
	 	 	 
	 	By:	/s/ Brad Rogers
	 	 	 
	 	 	Name: Brad Rogers
	 	 	 
	 	 	Title: CEO

 

 

	ACKNOWLEDGED AND ACCEPTED BY:	 
	 	 	 
	High Street Capital Partners, LLC	 
	 	 	 
	By: Acreage Holdings America, its Managing	 
	Member	 
	 	 	 
	 	 	 
	By:	/s/ Kevin Murphy	 
	 	 	 
	 	Name: Kevin Murphy	 
	 	 	 
	 	Title: President	 

 

[Signature page to Secured Promissory Note ($18,000,000)]

 

     

     

    

 

PLEDGE AGREEMENT

 

THIS
PLEDGE AGREEMENT (as amended, restated, supplemented, or otherwise modified from time to time, this “Agreement”),
dated as of April 27, 2021, is by and between RWB FLORIDA, LLC , a Delaware limited liability company (the “Pledgor”),
in favor of HIGH STREET CAPITAL PARTNERS, LLC, a Delaware limited liability company (the “Secured Party”).

 

RECITALS

 

WHEREAS,
pursuant to that certain Stock Purchase Agreement dated February 24, 2021 (as amended, restated, replaced, supplemented or otherwise
modified, the “ Purchase Agreement”) by and among the Pledgor, the Secured Party and Red White & Bloom Brands
Inc., a British Columbia corporation (the “Parent”), Secured Party agreed to make certain loans (the “Loans”)
to Pledgor. Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Purchase Agreement or,
as applicable, the other Transaction Documents (as such term is defined in the Purchase Agreement).

 

WHEREAS,
the Pledgor owns all of the issued and outstanding shares of common stock (the “Shares”) of Acreage Florida, Inc.,
a Florida corporation (the “Pledged Entity,”).

 

WHEREAS,
to secure the Obligations (as defined herein), Pledgor is required, among other things, to pledge, and by this Agreement does pledge,
among other things, all of its right, title and interest in, to and under the Pledged Collateral (as defined below).

 

NOW,
THEREFORE, in consideration of the foregoing and the mutual promises and covenants contained herein, and intending to be legally
bound hereby, the parties hereto agree as follows:

 

1.              Obligations.
The Pledgor is entering into this Agreement in order to secure the Pledgor’s obligations to the Secured Party under the Promissory
Notes (the “Obligations”).

 

2.              Security
Interest and Pledge of Membership Interest. Subject to Section 4(f) below, as security for the prompt and complete
payment and performance of the Obligations, the Pledgor hereby pledges to the Secured Party, and grants to the Secured Party, a lien
on and first priority security interest in all of the Pledgor’s right, title and interest in and to the following property, wherever
located, and whether now existing or hereafter arising or acquired from time to time (the “Pledged Collateral”):

 

		(a)	all of the Pledgor’s right, title and interest in and to the Shares;

 

(b)           all
the Pledgor securities issued or received in distribution upon or conversion of or in respect of or in exchange for the Shares, including
but not limited to those arising from a stock dividend, split, reclassification, reorganization, spin-off or split-off; and

 

(c)            to
the extent not covered by the above, all proceeds and products of each of the foregoing, all books and records at any time
evidencing or relating to any of the foregoing, all supporting obligations related thereto, and all accessions to,
substitutions and replacements for, and profits and products of, each of the foregoing, and any and all proceeds of any insurance,
indemnity, warranty or guaranty payable to the Pledgor from time to time with respect to any of the foregoing.

 

     

     

    

 

The Pledgor shall promptly
upon receipt deliver to the Secured Party all securities and proceeds constituting the Pledged Collateral, in the exact form received
with the Pledgor’s endorsement when necessary or appropriate together with assignments or transfer powers duly executed in blank
to be held by the Secured Party as part of the Pledged Collateral. Unless a Default or an Event of Default has occurred that is continuing,
the Pledgor shall be entitled to (a) receive cash Distributions allocable to the Pledged Collateral, and (b) exercise (but only
in a manner that will not (i) violate or be inconsistent with the terms hereof or of any other Transaction Document or (ii) have
the effect of impairing the position or interests of the Secured Party) the voting, consent, administration, management and all other
powers, rights and remedies of Pledgor with respect to the Pledged Collateral under the Organizational Documents of the Pledged Entity
(including all other rights and powers thereunder which are pledged hereunder or otherwise). If Pledgor shall become entitled to receive
or shall receive from the Pledged Entity (A) any non-cash Distribution as an addition to, on account of, in substitution of, or in
exchange for the Pledged Collateral or any part thereof, or (B) during the continuance of any Event of Default, any cash Distributions,
in either case the same shall immediately be remitted to the Secured Party (in the exact form received, with the Pledgor’s endorsement
or assignment or other instrument as the Secured Party may deem appropriate) to be held as additional Pledged Collateral for the Obligations
or for application thereto, as applicable, and until so remitted, shall be received and held by the Pledgor in trust and as agent for
the Secured Party.

 

For purposes of this Agreement
the term “Distributions” shall mean all dividends, distributions, liquidation proceeds, cash, profits, instruments,
options, warrants, rights, income, interest, returns of capital or principal, and other property and payments or economic benefits, interests
or proceeds to which the Pledgor is entitled with respect to the Pledged Collateral whether or not received by or otherwise distributed
to the Pledgor, whether such dividends, distributions, liquidation proceeds, cash, profits, instruments, options, warrants, rights, income,
interest, returns of capital or principal, and other property and payments or economic benefits, interests or proceeds are paid or distributed
by the Pledged Entity in respect of operating profits, sales, exchanges, refinancing, recapitalizations, reorganizations, condemnations
or insured losses of the company’s assets, the liquidation of the company’s assets and affairs, management fees, guaranteed
payments, repayment of loans, reimbursement of expenses or otherwise in respect or upon conversion of or in exchange for any or all of
the Pledged Collateral.

 

3.              Delivery of Pledged
Collateral. Each certificate or instrument, if any, representing or evidencing any part of the Pledged Collateral shall be delivered
by the Pledgor to the Secured Party, and shall thereafter be held by or on behalf of the Secured Party pursuant hereto and shall be accompanied
by duly executed instruments of transfer or assignment in blank. The Pledgor hereby irrevocably authorizes the Secured Party at any time
and from time to time to execute and file UCC financing statements (including any amendments thereto) in the appropriate government offices.
The Pledgor agrees to provide all necessary information related to such filings to the Secured Party promptly upon request by the Secured
Party.

 

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4.              Obligations of Pledgor.
In addition to the covenants and restrictions contained in the Purchase Agreement or the other Transaction Documents, as long as any of
the Obligations remain unpaid, the Pledgor:

 

(a)            Shall
maintain the security interest created by this Agreement in the Pledged Collateral as a perfected first priority security interest and
keep the Pledged Collateral free of all liens, security interests or other encumbrances, except the lien and security interest in favor
of the Secured Party created hereby and under the Transaction Documents;

 

(b)           Shall
notify the Secured Party promptly in writing of any change in the Pledgor’s address as specified in Section 11 below;

 

(c)            Shall
pay all claims, taxes, assessments and other charges of every nature which may be levied or assessed against the Pledged Collateral;

 

(d)           Shall
not, and shall not attempt to cancel, retire, transfer, sell, convey, encumber, or otherwise dispose of any of the Pledged Collateral
or any interest therein and shall not create, assume, or permit to exist any security interest, pledge, lien, charge, or other encumbrance
in favor of any individual or entity (other than the Secured Party) in, on, or to any of the Pledged Collateral;

 

(e)            Shall
not change its name, identity, type or organization or legal structure in any manner, unless the Pledgor shall have given the Secured
Party at least thirty (30) days prior written notice thereof;

 

(f)            Shall,
promptly following the funding of the Loans and with the reasonable cooperation of the Secured Party, notify the The Florida Department
of Health Office of Medical Marijuana Use of the grant of the security interest in the Pledged Collateral and obtain any applicable approvals
or consents required in connection with this Agreement;

 

(g)           Shall
immediately upon receipt of any certificates, agreements, promissory notes or instruments representing or evidencing the Pledged Collateral
acquired by the Pledgor after the date hereof, deliver the same to the Secured Party in suitable form for transfer by delivery or accompanied
by duly executed undated instruments of transfer or assignment in blank, all in form and substance satisfactory to the Secured Party;

 

(h)           Shall,
with respect to any uncertificated securities that constitute Pledged Collateral, cause the Pledged Entity to either (a) to register
the Secured Party as the registered owner of such securities or (b) to agree that the Pledged Entity will comply with instructions
with respect to such securities originated by the Secured Party without further consent of the Pledgor, in form and substance reasonably
satisfactory to the Secured Party, and (c) if reasonably requested by the Secured Party, request the issuer of such Pledged Collateral
to cause such Pledged Collateral to become certificated and in the event such Pledged Collateral become certificated, to deliver such
Pledged Collateral to the Secured Party in accordance with this Agreement; and

 

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(i)             Shall
take such further actions, and execute and/or deliver to the Secured Party such additional financing statements, amendments,
assignments, agreements, supplements, powers and instruments, and will in good faith work with the Secured Party to obtain such governmental
consents and corporate approvals and will cause to be done all such other things, as the Secured Party may in its reasonable
judgment deem necessary or appropriate in order to create and/or maintain the validity, perfection or priority of and protect any
security interest granted or purported to be granted in the Pledged Collateral as provided herein and the rights and interests
granted to the Secured Party hereunder, and enable the Secured Party to exercise and enforce its rights, powers and remedies
hereunder with respect to any Pledged Collateral, including, without limitation, making, executing, endorsing, acknowledging, filing
or refiling and/or delivering to the Secured Party from time to time upon request by the Secured Party such lists, schedules,
descriptions and designations of the Pledged Collateral, statements, confirmatory assignments, supplements, additional security
agreements, conveyances, financing statements, transfer endorsements, powers of attorney, certificates, reports and other assurances
or instruments as the Secured Party shall reasonably request.

 

5.              Definition
of Default. For purposes of this Agreement, a Default hereunder means any Event of Default as defined in the Promissory Notes.

 

		6.	Remedies Upon Default.

 

(a)            Upon
the occurrence and during the continuance of a Default or an Event of Default, the Secured Party, in addition to other rights and remedies
provided for in this Agreement, the Purchase Agreement or any Transaction Document or otherwise available to the Secured Party under law,
in equity or otherwise:

 

(i)           may sell the portion
of the Shares necessary to realize proceeds sufficient to satisfy the entire balance of the Obligations and may exercise in respect of
the Pledged Collateral, all the rights and remedies of a secured party on default under the UCC (including the provisions of the Delaware
UCC with respect to acceptance of collateral in satisfaction of the obligation), and the Secured Party may also, with notice to Pledgor
as specified below, sell the Pledged Collateral or any part thereof in one or more parcels at public or private sale, at any exchange,
broker’s board or at any of the Secured Party’s offices or elsewhere, for cash, on credit or for future delivery, but only
upon commercially reasonable terms. The Pledgor agrees that at least ten (10) days’ notice to the Pledgor of the time and place
of any public sale or any private sale shall constitute reasonable notification. The Secured Party may adjourn any public or private sale
from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time
and place to which it was so adjourned. Notwithstanding the foregoing, the Pledgor agrees that private sales or other dispositions may
be at prices and other terms less favorable to the seller than if sold at public sales or other dispositions and that such private sales
or other dispositions shall not solely by reason thereof be deemed not to have been made in a commercially reasonable manner. The Secured
Party shall incur no liability as a result of the sale or other disposition of any of the Shares at any private sale which complies with
the requirements of this Section 6. The Pledgor hereby waives, to the extent permitted by applicable law, any claims against
the Secured Party arising by reason of the fact that the price at which any of the Shares may have been sold or otherwise disposed of
at such private sale was less than the price that might have been obtained at a public sale or other public disposition, even if the Secured
Party accepts the first offer deemed by the Secured Party on good faith to be commercially reasonable under the circumstances and does
not offer any of the Shares to more than one offeree;

 

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(ii)          may exercise its
rights to receive any and all Distributions and make application of any net proceeds included therein to the Obligations in accordance
with the terms of this Agreement;

 

(iii)         may exercise all
governance, voting and other rights pertaining to such Pledged Collateral or take any other action with respect to the Pledged Collateral
or the Pledged Entity;

 

(iv)        may cause all or
any part of the Pledged Collateral held by it to be transferred into its name or the name of its nominee;

 

(v)          may otherwise act
with respect to the Pledged Collateral as though it were the outright owner thereof (the Pledgor hereby irrevocably constituting and appointing
the Secured Party the proxy and attorney-in-fact of the Pledgor, with full power and authority of substitution, to do so).

 

(b)            Any
cash held by the Secured Party as Pledged Collateral and all cash proceeds received by the Secured Party in respect of any sale of, collection
from, or other realization upon all or any part of the Pledged Collateral shall be held by the Secured Party as collateral for, and then
applied by the Secured Party in accordance with the Purchase Agreement. The Pledgor shall remain liable for any deficiency if the proceeds
of any sale or other disposition of the Pledged Collateral is insufficient to pay the Obligations and the fees and other charges of any
attorneys employed by the Secured Party to collect such deficiency.

 

(c)            The
Secured Party may enforce its rights hereunder without any other notice and without any other action now or hereafter required by law,
regulation, judicial order or decree or otherwise (all of which are hereby expressly waived by the Pledgor, to the fullest extent permitted
by law). The Pledgor hereby waives and releases to the fullest extent permitted by law any right or equity of redemption with respect
to the Pledged Collateral, whether before or after sale hereunder, and all rights, if any, of marshalling the Pledged Collateral and
any other security for the Obligations or otherwise. The Secured Party shall not be liable for failure to collect or realize upon any
or all of the Pledged Collateral or for any delay in so doing nor shall it be under any obligation to take any action with regard thereto.

 

(d)            Notwithstanding
any provision herein or in any other Transaction Document, the Secured Party’s rights to: (i) receive Distributions, (ii) foreclose
on the Pledged Collateral, (iii) sell the Shares, (iv) vote with respect to the Pledged Collateral or (v) take any other
action with respect to the Pledged Collateral or the Pledged Entity may only be done following receipt of consents and approvals of the
Governmental Authorities listed on The Florida Department of Health Office of Medical Marijuana Use.

 

7.              Representations
and Warranties. The Pledgor represents and warrants to the Secured Party that:

 

(a)            It
is the sole, direct, legal and beneficial owner of the Shares, and has good and marketable title to all of the Shares free and clear
of all liens or any other claim, option or right of others except for the security interest granted to the Secured Party pursuant to
this Agreement and so long as the Obligations remain outstanding, the Pledgor is and will be the sole, direct, legal and
beneficial owner of the Shares of the Pledged Entity, free and clear of all liens;

 

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(b)            All
certificates, agreements, promissory notes or instruments representing or evidencing the Pledged Collateral in existence on the date
hereof have been delivered to the Secured Party in suitable form for transfer by delivery or accompanied by duly executed undated
instruments of transfer or assignment in blank and upon such delivery, this Agreement shall create a valid
and enforceable first priority lien upon and perfected security interest in all the Pledged Collateral. No Person other than the
Secured Party has control or possession of all or any part of the Pledged Collateral;

 

(c)            The
Pledgor has all necessary power to execute and deliver this Agreement, to perform all of its obligations hereunder and to subject the
Pledged Collateral to the security interest created hereby;

 

(d)            No
authorization, approval, or other action by, and no notice to or filing with, any Person or any Governmental Authority or regulatory body
is required (i) for the Pledgor’s granting of the security interest created hereby, (ii) for the execution, delivery or
performance of this Agreement by the Pledgor or (iii) for the exercise by the Secured Party of the rights provided for in this Agreement
or the remedies in respect of the Pledged Collateral pursuant to this Agreement (except as may be required (x) in connection with
any disposition of the Shares by laws affecting the offering and sale of securities generally and (y) in connection with the required
regulatory approval of The Florida Department of Health Office of Medical Marijuana Use);

 

(e)            The
Pledged Collateral have been duly authorized and are validly issued, fully paid and non-assessable, and are subject to no options to purchase,
or any similar rights or to any restrictions on transferability;

 

(f)             Each
certificate or document of title constituting the Pledged Collateral is genuine in all respects and represents what it purports to be;

 

(g)            Subject
to Section 4(f), by virtue of the execution and delivery of this Agreement and upon delivery to the Secured Party of the Pledged
Collateral in accordance with this Agreement, the Secured Party will have a valid and perfected, first priority security interest in the
Pledged Collateral, subject to no prior or other liens of any nature whatsoever;

 

(h)           For
so long as this Agreement is in effect, the Pledgor will defend the Pledged Collateral and the priority of the Secured Party’s security
interests therein, at its sole cost and expense, against the claims and demands of all Persons at any time claiming the same or any interest
therein;

 

(i)             Subject
to Section 4(f), upon an Event of Default, at the Secured Party’s direction and at the sole cost and expense of the
Pledgor, the Secured Party (or its assignee) shall be admitted as the sole stockholder of the Pledged Entity without any further action
on the part of the Pledged Entity, any stockholder, director, manager, member or Pledgor (serving in any capacity);

 

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(j)             So
long as any Obligations are due and owing to the Secured Party, the Pledgor and the Pledged Entity covenants and agrees not to consent
or agree to, or take any action that results in, a modification or amendment to Pledged Entity’s Organizational documents;

 

(k)            The
Secured Party is not an “affiliate” of the Pledgor or the Pledged Entity, as such term is used and defined under Rule 144
of the federal securities laws;

 

(l)             The
Shares set forth on Schedule 1 constitute all of the securities owned, legally or beneficially, by the Pledgor, and such securities
represent 100% of the issued and outstanding equity interests, on a fully diluted basis, of the Pledged Entity. At all times while this
Agreement remains in effect, the Shares shall constitute and represent 100% of the issued and outstanding equity interests of the Pledged
Entity, on a fully diluted basis;

 

(m)           Each
of the Pledged Entity and the Pledgor hereby authorize the Secured Party to prepare and file such financing statements, amendments and
other documents and do such acts as the Secured Party deems necessary in order to establish and maintain valid, attached and perfected,
first priority security interests in the Pledged Collateral in favor of the Secured Party, for its own benefit and as agent for its Affiliates,
free and clear of all liens and claims and rights of third parties whatsoever. Each of the Pledged Entity and the Pledgor hereby irrevocably
authorize the Secured Party at any time, and from time to time, to file in any jurisdiction any initial financing statements, amendments,
continuations and other documents in furtherance of the foregoing;

 

(n)           The
articles of incorporation, certificate of formation, bylaws, operating agreement and similar governing documents (collectively, the “Organizational
Documents”) of the Pledged Entity are in full force and effect, have not been amended since the date thereof, and is the only
agreement between or among the Pledged Entity, the manager (as applicable) and/or the Pledgor. Notwithstanding any provision to the contrary
in any Organizational Document, the Pledgor irrevocably agrees to waive any provision in the applicable Organizational Document that is
inconsistent with the terms of this Agreement, including, without limitation, any provisions prohibiting the pledge of the Pledged Collateral
or, after a Default or an Event of Default, the admission of the Secured Party as the stockholder (in place of the Pledgor); and

 

(o)            All
information set forth herein, including the schedules annexed hereto, in each case, relating to the Pledged Collateral, is accurate and
complete.

 

8.              Termination.
Upon the indefeasible payment in full of all Obligations, this Agreement shall terminate and at the request and sole expense of the Pledgor,
the Secured Party shall deliver to the Pledgor on behalf of the Pledgor such of the Pledged Collateral as shall not have been sold or
otherwise applied pursuant to this Agreement.

 

		9.	General.

 

(a)            No
course of dealing between the Pledgor and the Secured Party, nor any failure to exercise, nor any delay in exercising, any right, power
or privilege of the Secured Party hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right,
power or privilege hereunder or thereunder preclude any other or further exercise thereof or the exercise of any other right, power or
privilege.

 

    7

    

    

 

(b)            The
rights and remedies provided herein are cumulative and are in addition to and not exclusive of any rights or remedies provided under other
contracts (including, without limitation, the Purchase Agreement and the other Transaction Documents) or by law or in equity, including,
but without limitation, the rights and remedies of the Secured Party under the UCC.

 

(c)            The
provisions of this Agreement are severable, and if any clause or provision shall be held invalid or unenforceable in whole or in part
in any jurisdiction, then such invalidity or unenforceability shall affect only such clause or provision or part thereof in such jurisdiction
and shall not in any manner affect such clause or provision in any other jurisdiction or any other clause or provision in this Agreement
in any jurisdiction.

 

(d)            The
Pledgor shall indemnify the Secured Party and each applicable Affiliate, director, officer, employee, partner, agent, trustee, administrator,
manager, advisor and representative thereof (each, an “Indemnitee”) for any and all losses, damages, liabilities, claims
and related expenses (including the reasonable fees and expenses of any counsel for any Indemnitee) incurred by any Indemnitee or asserted
against any Indemnitee by any Person (including the Pledgor) arising out of, in connection with or resulting from this Agreement (including,
without limitation, enforcement of this Agreement) or any failure of any Obligations to be the legal, valid, and binding obligations of
the Pledgor enforceable against the Pledgor in accordance with their terms, whether brought by a third party or by the Pledgor, and regardless
of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent
that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable
judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee.

 

10.            Certain
Rights of Secured Party. It is acknowledged that it is not intended that the Secured Party has any voting rights, rights to receive
Distributions or rights to take any other actions with respect to the Pledged Collateral or the Pledged Entity until such time as a Default
or an Event of Default shall have occurred and be continuing.

 

11.            Notices.
All notices, requests, demands, directions and other communications provided for herein shall be in writing and shall be delivered or
mailed in the manner specified in the Purchase Agreement addressed to the Secured Party at its address set forth in or determined pursuant
to the Purchase Agreement and addressed to the Pledgor at the address of the Pledgor set forth in the Purchase Agreement.

 

12.            Power
of Attorney. The Pledgor hereby appoints the Secured Party its attorney-in-fact, with full power and authority in the place and stead
of the Pledgor and in the name of the Pledgor, or otherwise, from time to time during the existence of a Default or an Event of Default
in the Secured Party's discretion to take any action and to execute any instrument or document consistent with the terms of the Purchase
Agreement and the other Transaction Documents which the Secured Party may deem necessary or advisable to accomplish the purposes hereof
(but the Secured Party shall not be obligated to and shall have no liability to the Pledgor or any third party for failure to so do or
take action). The foregoing grant of authority is a power of attorney coupled with an interest and such appointment shall be irrevocable
for the term hereof. The Pledgor hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue hereof.

 

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		13.	Miscellaneous.

 

(a)            This
Agreement contains the entire understanding of the parties with respect to the subject matter of this Agreement, superseding any prior
or contemporaneous communications of any kind, written or oral.

 

(b)            No
amendment or waiver of any provision of this Agreement nor consent to any departure herefrom, shall in any event be effective unless the
same shall be in writing and signed by both parties, and then such waiver or consent shall be effective only in the specific instance
and for the specific purpose for which given.

 

(c)            This
Agreement shall be governed by and construed in accordance with the substantive laws of the State of Delaware, with respect to contracts
executed in and to be performed in such State.

 

(d)            This
Agreement shall inure to the benefit of, and be binding upon the respective parties hereto and their heirs, executors, administrators,
successors and assigns; provided, that the Pledgor shall not assign or otherwise transfer any of its rights or obligations under this
Agreement without the prior written consent of the Secured Party and any attempted assignment or transfer without such consent shall be
null and void. Without limiting the foregoing, the Secured Party may at any time and from time to time without the consent of Pledgor,
assign or otherwise transfer all or any portion of its rights and remedies under this Agreement to any other person or entity in connection
with a transfer of the Secured Party’s interest in the Loans as provided in the Promissory Notes. Without limiting the foregoing,
in connection with any assignment of the Loans in accordance with the Promissory Notes, the Secured Party may assign or otherwise transfer
all of its rights and remedies under this Agreement to the assignee and such assignee shall thereupon become vested with all of the rights
and obligations in respect thereof granted to the Secured Party herein or otherwise. Each representation and agreement made by Pledgor
in this Agreement shall be deemed to run to, and each reference in this Agreement to the Secured Party shall be deemed to refer to, the
Secured Party and each of its successors and assigns.

 

(e)            This
Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed an original and all of which when
taken together shall constitute one and the same instrument. Any counterpart signature page delivered by pdf or facsimile transmission
shall be deemed to be and have the same force and effect as an originally executed signature page. Nothing set forth in this Agreement
or any other Transaction Document, nor the exercise by the Secured Party of any of the rights or remedies hereunder, shall relieve the
Pledgor from the performance of any term, covenant, condition or agreement on the Pledgor's part to be performed or observed in respect
of any of the Pledged Collateral or from any liability to any Person in respect of any of the Pledged Collateral or shall impose any obligation
on the Secured Party to perform or observe any such term, covenant, condition or agreement. The Secured Party shall not have any obligation
or liability under any contracts, agreements and other documents included in the Pledged Collateral by reason of this Agreement. The obligations
of the Pledgor contained in this Section 13(e) shall survive the termination hereof and the discharge of the Pledgor's
other obligations under this Agreement, the Purchase Agreement and the other Transaction Documents.

 

    9

    

    

 

(f)             Costs
and Expenses. Without limiting any other cost reimbursement provisions in the Transaction Documents, upon demand, the Pledgor
shall pay to the Secured Party the amount of any and all reasonable expenses incurred by the Secured Party hereunder or in
connection herewith, including, without limitation those that may be incurred in connection with (i) the
administration of this Agreement, (ii) the custody or preservation of, or the sale of, collection from, or other realization
upon, any of the Pledged Collateral, (iii) the exercise or enforcement of any of the rights of the Secured Party hereunder or
(iv) the failure of the Pledgor to perform or observe any of the provisions hereof.

 

(g)            Electronic
Execution of Transaction Documents. The words “execution,” “signed,” “signature,” and words of
like import in this Agreement or any other Transaction Document shall be deemed to include electronic signatures or the keeping of records
in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the
use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable Law, including the
Federal Electronic Signatures in Global and National Commerce Act, the Delaware Uniform Electronic Transactions Act, or any other similar
state Laws based on the Uniform Electronic Transactions Act.

 

(h)            Submission
to Jurisdiction. The Pledgor irrevocably and unconditionally agrees, for itself and its property, that it will not commence any action,
litigation or proceeding of any kind or description, whether in law or equity, whether in contract or in tort or otherwise, against the
Secured Party or any Affiliate of the Secured Party in any way relating to this Agreement or the transactions relating hereto or thereto,
in any forum other than the courts of the State of Delaware located in Wilmington, Delaware (and for avoidance of all doubt, not in any
federal court), and each of the parties hereto irrevocably and unconditionally submits to the jurisdiction of such courts and agrees that
all claims in respect of any such action, litigation or proceeding may be heard and determined in such Delaware state court or, to the
fullest extent permitted by applicable law, in such federal court. Each of the parties hereto agrees that a final judgment in any such
action, litigation or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other
manner provided by law. Nothing in this Agreement shall affect any right that the Secured Party may otherwise have to bring any action
or proceeding relating to this Agreement or any other against the Pledgor or its properties in the courts of any jurisdiction.

 

(i)             Waiver
of Venue. The Pledgor irrevocably and unconditionally waives, to the fullest extent permitted by applicable law, any objection that
it may now or hereafter have to the laying of venue of any action or proceeding arising out of or relating to this Agreement or any other
Transaction Document in any court referred to in paragraph (h) above. Each of the parties hereto hereby irrevocably waives, to the
fullest extent permitted by applicable law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any
such court.

 

(j)             Service
of Process. The Pledgor hereby irrevocably waives personal service of any and all legal process, summons, notices and other
documents and other service of process of any kind and consents to such service in any suit, action or proceeding brought in the
United States with respect to or otherwise arising out of or in connection with any this Agreement by any means permitted by
applicable Law, including by the mailing thereof (by registered or certified mail, postage prepaid) to the address of the
Pledgor specified herein (and shall be effective when such mailing shall be effective, as provided therein).

 

[Signature page follows]

 

    10

    

    

 

IN WITNESS WHEREOF, the parties hereto have duly
executed this Agreement as of the day and year first above written.

 

	SECURED
    PARTY:	 	PLEDGOR:
	High
    Street Capital Partners, LLC	 	RWB
    Florida, LLC
	By:
    Acreage Holdings America, its Managing Member	 	 	 
	 	 	 	 
	By:	/s/
    Kevin Murphy	 	By:	/s/
    Brad Rogers
	Name:
    	Kevin
    Murphy	 	Name:	Brad
    Rogers
	Title:
    	President	 	Title:	CEO

 

[Signature Page to Pledge Agreement]

 

    

     

    

 

SCHEDULE 1

 

LIST OF PLEDGED EQUITY

 

	Shares
    Owned by Pledgor (Number or Percentage and Type of Security)	Certificate No.
	118.62 Non-Voting Shares of Common Stock	85
	79.38 Voting Shares of Common Stock	84

 

     

     

    

 

COMPOSITE EXHIBIT B

 

SHARE CERTIFICATES AND STOCK POWER

 

[attached]

 

     

     

    

 

 

    

     

    

  

    

     

    

 

STOCK POWER

 

FOR
VALUE RECEIVED, the undersigned RWB FLORIDA, LLC, hereby sells, assigns and transfers unto HIGH STREET CAPITAL
PARTNERS, LLC, a Delaware limited liability company (“Secured Party”), all of the undersidgned’s
right, title and interest in, to and under the undersigned’s interest in ACREAGE FLORIDA, INC., a Florida corporation
(the “Company”), standing in the undersigned’s name on the books of said Company represented by
Certificate Numbers 84 and 85 herewith (the “Interests”), and does hereby irrevocably constitute and
appoint the Secured Party as the undersigned’s attorney-in-fact to transfer said Interests on the books of said Company with
full power of substitution.

 

This Stock Power is being given pursuant to and is subject to all
of the terms and conditions of that certain Pledge Agreement, dated _________________, 2021 by and among the Secured Party and the undersigned.

 

	 	Dated as of 	June 9, 2021	 

 

	 	RWB FLORIDA, LLC
	 	a Delaware limited liability company
	 	 
	 	By:	/s/
  Brad Rogers                 

	 	Print Name:	Brad Rogers

	 	Its:	CEO
	 	 	 
	Signed in the presence of:	 	 
	 	 	 
	/s/ Jeremy Wu	 	 
	Witness	 	 
	Print Name:	Jeremy Wu

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