Document:

This
Assignment and Conveyance Agreement (this “Agreement”) is dated September 16, 2019 and is entered into by and between
Montsaic Investments, an Ohio corporation (“Assignor”), and Lazex Inc., a Nevada corporation (“Assignee”).

 

For
good and valuation consideration, the receipt and sufficiency of which is hereby acknowledged, the Assignor hereby assigns, conveys
and transfers 100% of its right, title and interest in, to and under the warrant agreement and warrants forms of which attached
hereto as Annex A to the Assignee in exchange for 1/3 of the Assignee’s common stock on a Fully-diluted and fully-issued
basis to be issued, transferred and delivered to the order of Assignor as soon as practicable after the date hereof.

 

The
term “Fully-diluted and fully issued basis” means that all options, warrants or other convertible securities or instruments
or other rights to acquire common stock or any other existing or future classes of stock of the Company have been exercised or
converted, as applicable, in full regardless of whether any such options, warrants or other convertible securities or instruments
or other rights are then vested, convertible or exercisable in accordance with their terms.

 

This
Agreement shall be governed by the laws of the State of New York without reference to its conflicts of laws principles or the
conflicts of laws principles of any other jurisdiction.

 

Agreed
and accepted on the date first written above:

 

	Montsaic
    Investments	 
	 	 
	 	/s/
    Noah Scheinbaum	 
	Title:	Authorized
    signatory	 

 

	Lazex
    Inc.	 
	 	 	 
	 	/s/
    Mike Ballardie	 
	Title:	CEO	 

 

    	 	 	 

    	 

    

 

Annex
A

 

WARRANT
AGREEMENT

 

THIS
WARRANT AGREEMENT (this “Agreement”), dated as of this 16th day of September 2019 (the “Effective Date”),
is entered into by and between Slinger Bag Ltd, a corporation incorporated under the laws of the State of Israel, with its principal
business address at 13 Hasadna, Raanan IL (the “Company”) and Montsaic Investments, a corporation incorporated under
the laws of the state of Ohio (the “Investor”). The Investor and the Borrower shall be collectively referred to as
“Parties”.

 

RECITALS

 

WHEREAS,
the parties entered into a promissory note and loan agreement dated June 1, 2019 (the “Original Note”), pursuant to
which the Investor received warrants convertible into thirty-three percent (33%) of all outstanding shares of the Company on a
Fully-diluted and fully-issued basis (the “Warrants”) on the earlier of (i) the date that any initial public offering,
acquisition, merger, reverse merger or other transaction not in the ordinary course of business is consummated or (ii) any date
on which the Investor elects to convert such Warrants into shares of common stock so long as such date is no later than 12 months
from the date of the Original Note at an agreed and confirmed valuation of the Company of Five Million Dollars ($5,000,000); and

 

WHEREAS,
in order to obtain certain tax and structuring benefits in connection with a series of transactions that will result in the Company
becoming an indirect subsidiary of Lazex Inc., a Nevada corporation, the Parties now wish to (i) enter into this agreement in
respect of the Warrants and (ii) amend and restate the Original Note.

 

AGREEMENT

 

Now,
therefore, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto
agree as follows:

 

1.
Warrants.

 

1.1
In consideration for the loan made by the Investor to the Company pursuant to the Original Note, the Company hereby issues to
the Investor warrants covering 100% of the Loan (as defined in the Original Note) in the form attached hereto as Annex A and
reflecting the following terms and conditions (the “Warrants”):

 

	 	a.	The
    Warrants are convertible into thirty-three percent (33%) of all outstanding shares of the Company on a Fully-diluted and fully-issued
    basis on the earlier of (i) the date that any initial public offering, acquisition, merger, reverse merger or other transaction
    not in the ordinary course of business is consummated or (ii) any date on which the Investor elects to convert the Warrants
    into shares of common stock of the Company so long as such date is no later than 12 months from the date hereof at an agreed
    and confirmed valuation of the Company of Five Million Dollars (U.S. $5,000,000).

 

    	 	 	 

    	 

    

 

	 	b.	The
    term “Fully-diluted and fully issued basis” means that all options, warrants or other convertible securities or
    instruments or other rights to acquire common stock or any other existing or future classes of stock of the Company have been
    exercised or converted, as applicable, in full regardless of whether any such options, warrants or other convertible securities
    or instruments or other rights are then vested, convertible or exercisable in accordance with their terms.
	 	 	 
	 	c.	The
    Warrants and the underlying shares of common stock exercisable thereto shall be collectively referred to as the “Securities.”

 

1.2
The Warrants shall be exercisable for a period of 12 months of the Effective Date.

 

2.
Provisions Pertaining to Registration and Transfer of the Warrants

 

	 	a.	The
    Parties further acknowledge and are aware that the Securities may only be disposed of in compliance with respective U.S. state
    and U.S. federal securities laws (including without limitations, any holding period requirements). In connection with any
    transfer of Securities other than pursuant to an effective registration statement, the Company may require the transferor
    thereof to provide to the Company an opinion of counsel selected by the transferor and reasonably acceptable to the Company,
    the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer
    does not require registration of such transferred Securities under the Securities Act of 1933, as amended (the “Securities
    Act”).
	 	 	 
	 	b.	The
    Lender agrees to the imprinting, so long as is required by this Section 3.3 of a legend on any of the Securities in the following
    form:
	 	 	 
	 	 	“THIS
    SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURIT!ES COMMISSION OF ANY STATE IN
    RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
    AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT
    OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES
    ACT AND IN ACCORDANCE WITH APPLICABLE U.S. STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR
    TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.”

 

    	 	 	 

    	 

    

 

	 	c.	Certificates
    evidencing the Securities shall not contain any legend (including the legend set forth in this Section): (i) while a registration
    statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Securities
    pursuant to Rule 144, (iii) if the Securities are eligible for sale under Rule 144, without the requirement for the Company
    to be in compliance with the current public information required under Rule 144 as to such Securities and without volume or
    manner-of-sale restrictions, or (iv) if such legend is not required under applicable requirements of the Securities Act (including
    judicial interpretations and pronouncements issued by the staff of the Securities Exchange Commission).
	 	 	 
	 	d.	In
    the event that the Lender will sell any Securities pursuant to either the registration requirements of the Securities Act,
    including any applicable prospectus delivery requirements, or an exemption therefrom, and that if the Securities are sold
    pursuant to a Registration Statement, they will be sold in compliance with the plan of distribution set forth therein, and
    acknowledges that the removal of the restrictive legend from certificates representing the Securities as set forth herein
    is predicated upon the Company’s reliance upon this understanding.
	 	 	 
	 	e.	With
    respect to any Warrants issued hereunder, the Company shall, immediately upon such issuance, provide its transfer agent with
    an irrevocable instruction to reserve sufficient respective number of underlying shares of common stock issuable per such
    Warrant, so long as each such respective Warrant is exercisable.

 

    	 	 	 

    	 

    

 

Annex
A

 

THIS
WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF ARTICLE 4 BELOW, MAY NOT BE OFFERED, SOLD OR
OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW
OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR
TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION.

 

WARRANT
TO PURCHASE COMMON STOCK

 

Company:
Slinger Bag Ltd

 

Holder:
Montsaic Investments

 

Shares:
thirty-three percent (33%) of all outstanding
shares of the Company on a Fully-diluted and fully-issued basis on the earlier of (i) the date that any initial public offering,
acquisition, merger, reverse merger or other transaction not in the ordinary course of business is consummated or (ii) any date
on which the Investor elects to convert the Warrants into shares of common stock of the Company so long as such date is no later
than 12 months from the date hereof at an agreed and confirmed valuation of the Company of Five Million Dollars (U.S. $5,000,000)
(collectively, “One Third of the Company”) 

 

Class
of Stock: Ordinary/common shares of stock of the Company

 

Exercise
Price: not applicable; the Warrants evidenced hereby are exercisable without consideration

 

Issue
Date: September 16, 2019

 

Term:
See Section 4.1

 

THIS
WARRANT CERTIFIES THAT, for value received as consideration pursuant to that certain Original Note dated June 1, 2019 (as defined
in the Slinger Warrant Agreement of even date herewith) and for other good and valuable consideration the sufficiency of which
is hereby acknowledged, Holder is entitled to receive One Third of the Company in the form of fully paid and nonassessable shares
of the Company at the Exercise Price, all as set forth herein, subject to the provisions and upon the terms and conditions set
forth in this Warrant.

 

    	 	 	 

    	 

    

 

ARTICLE
1. EXERCISE.

 

1.1
Method of Exercise. Holder may exercise this Warrant by delivering a duly executed Notice of Exercise in substantially
the form attached as Appendix 1 hereto to the principal office of the Company.

 

1.2
Delivery of Certificate and New Warrant. Promptly after Holder exercises this Warrant, the Company shall deliver to Holder
certificates for or other evidence (reasonably acceptable to the Holder) of the Shares received and, if this Warrant has not been
fully exercised and has not expired, a new Warrant representing the Shares not so received.

 

1.3
Replacement of Warrants. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction
or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably
satisfactory in form and amount to the Company or, in the case of mutilation, on surrender and cancellation of this Warrant, the
Company shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor.

 

ARTICLE
2. ADJUSTMENTS TO THE SHARES.

 

2.1
Stock Dividends, Splits, Combinations, Etc. If the Company declares or pays a dividend on the Shares payable in Common
Stock, or other securities, then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without cost to
Holder, the total number and kind of securities to which Holder would have been entitled had Holder owned the Shares of record
as of the date the dividend occurred. If the Company subdivides the Shares by reclassification or otherwise into a greater number
of shares or takes any other action which increases the amount of stock into which the Shares are convertible, the number of shares
purchasable hereunder shall be proportionately increased and the Exercise Price shall be proportionately decreased. If the outstanding
shares of the Company are combined or consolidated, by reclassification or otherwise, into a lesser number of shares, the Exercise
Price shall be proportionately increased and the number of Shares shall be proportionately decreased.

 

2.2
Reclassification, Exchange or Substitution, Etc. Upon any reclassification, exchange, substitution, or other event that
results in a change of the number and/or class of the securities issuable upon exercise or net exercise of this Warrant, Holder
shall be entitled to receive, upon exercise or net exercise of this Warrant, the number and kind of securities and property that
Holder would have received for the Shares if this Warrant had been exercised immediately before such reclassification, exchange,
substitution, or other event. The Company or its successor shall promptly issue to Holder an amendment to this Warrant setting
forth the number and kind of such new securities or other property issuable upon exercise or net exercise of this Warrant as a
result of such reclassification, exchange, substitution or other event that results in a change of the number and/or class of
securities issuable upon exercise or net exercise of this Warrant.

 

2.3
Merger or Consolidation. Upon any capital reorganization of the Company’s capital stock (other than a subdivision,
combination, reclassification or exchange of shares provided for elsewhere in this Section 2) or a merger or consolidation of
the Company with or into another corporation, then as a part of such reorganization, merger or consolidation, provision shall
be made so that the Holder shall thereafter be entitled to receive upon the exercise of this Warrant, the number and kind of securities
and property of the Company, or of the successor corporation resulting from such reorganization, merger or consolidation, to which
that Holder would have received for the Shares if this Warrant had been exercised immediately before such reorganization, merger
or consolidation.

 

    	 	 	 

    	 

    

 

2.4
Fractional Shares. No fractional Shares shall be issuable upon exercise or net exercise of this Warrant and the number
of Shares to be issued shall be rounded up to the nearest whole Share.

 

ARTICLE
3. COVENANTS OF THE COMPANY.

 

3.1
Notice of Certain Events. If the Company proposes at any time (a) to declare any dividend or distribution upon any of its
stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; (b) to effect any reclassification
or recapitalization of any of its stock; or (c) to merge or consolidate with or into any other corporation, or sell, lease, license,
or convey all or substantially all of its assets, or to liquidate, dissolve or wind up, then, in connection with each such event,
the Company shall give Holder: (1) at least three (3) days prior written notice of the date on which a record will be taken for
such dividend, distribution, or subscription rights (and specifying the date on which the holders of Common Stock will be entitled
thereto) or for determining rights to vote, if any, in respect of the matters referred to in (a) above; and (2) in the case of
the matters referred to in (b) and (c) above at least three (3) days prior written notice of the date when the same will take
place (and specifying the date on which the holders of Common Stock will be entitled to exchange their Common Stock for securities
or other property deliverable upon the occurrence of such event).

 

3.2
No Stockholder Rights or Liabilities. Except as provided in this Warrant, the Holder will not have any rights as a stockholder
of the Company until the exercise of this Warrant. Absent an affirmative action by the Holder to purchase the Shares, the Holder
shall not have any liability as a stockholder of the Company.

 

3.3
Closing of Books. The Company will at no time close its transfer books against the transfer of this Warrant or of any Shares
issued or issuable upon the exercise of this Warrant in any manner which interferes with the timely exercise of this Warrant.

 

ARTICLE
4. MISCELLANEOUS.

 

4.1
Term. This Warrant is exercisable in whole or in part at any time and from time to time on or before the earlier of 5:00
pm Israel Time on the first (1st) anniversary of the Issue Date.

 

4.2
Legends. This Warrant and the Shares (and the securities issuable, directly or indirectly, upon conversion of the Shares,
if any) shall be imprinted with a legend in substantially the following form:

 

THIS
WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND
UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE
SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION.

 

    	 	 	 

    	 

    

 

4.3
Transfers. This Warrant and the Shares issuable upon exercise of this Warrant (and the securities issuable, directly or
indirectly, upon conversion of the Shares, if any) may not be transferred or assigned in whole or in part without compliance with
applicable federal and state securities laws by the transferor and the transferee (including, without limitation, the delivery
of investment representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the
Company). After compliance with all restrictions on transfer set forth in this Section 4.3, and within a reasonable time after
the Company’s receipt of an executed Assignment Form in the form attached hereto, the transfer shall be recorded on the
books of the Company upon the surrender of this Warrant, properly endorsed, to the Company at its principal offices, and the payment
to the Company of all transfer taxes and other governmental charges imposed on such transfer. In the event of a partial transfer,
the Company shall issue to the new holders one or more appropriate new warrants.

 

4.4
Notices. All notices and other communications from the Company to the Holder, or vice versa, shall be deemed delivered
and effective when given personally or mailed by first-class registered or certified mail, postage prepaid, at such address as
may have been furnished to the Company or the Holder, as the case may (or on the first business day after transmission by facsimile)
be, in writing by the Company or such Holder from time to time. Effective upon receipt of the fully executed Warrant, all notices
to the Holder shall be addressed as set forth on the signature page hereto until the Company receives notice of a change of address
in connection with a transfer or otherwise. Notice to the Company shall be addressed as set forth on the signature page hereto
until the Holder receives notice of a change in address.

 

4.5
Waiver. This Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing
signed by the party against which enforcement of such change, waiver, discharge or termination is sought.

 

4.6
Counterparts. This Warrant may be executed in counterparts, all of which together shall constitute one and the same agreement.

 

4.7
Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of New York, without
giving effect to its principles regarding conflicts of law.

 

Please
indicate your acceptance of these terms by countersigning where indicated below.

 

	Slinger
    Bag Ltd	 
	 	 
	 	 
	By:	           	 
	Title:	 	 
	 	 	 
	Agreed
    and accepted:	 
	 	 	 
	Montsaic
    Investments	 
	 	 
	 	 

 

    	 	 	 

    	 

    

 

Appendix
1

 

SLINGER
BAG LTD

CONVERSION
NOTICE

 

Reference
is made to the Warrant Agreement dated September 16, 2019 between Slinger Bag Ltd and Montsaic Investments (the “Warrant
Agreement”). In accordance with and pursuant to the Warrant Agreement, the undersigned hereby elects to convert the Warrant
into thirty-three percent (33%) of all outstanding ordinary/common (or its equivalent) shares of the Company on a Fully-diluted
and fully-issued basis ordinary/common, as of the date specified below. Capitalized terms used but not defined herein have the
meanings assigned to such terms in the Warrant Agreement.

 

 Date of Conversion: ______________________________________________________________________

 

Number
of shares of ordinary/common (or its equivalent) stock to be issued: ___________________________

 

Please
issue the ordinary/common (or its equivalent) shares of common stock in the following name and to the following address:

 

Issue
to: _________________________________________

 

_________________________________________

 

Address:
_________________________________________

 

Telephone
Number: ________________________________

 

Email
address: _________________________________

 

Holder:
__________________________________________

 

By:

Title:WARRANT
AGREEMENT

 

THIS
WARRANT AGREEMENT (this “Agreement”), dated as of this 16th day of September 2019 (the “Effective Date”),
is entered into by and between Slinger Bag Ltd, a corporation incorporated under the laws of the State of Israel, with its principal
business address at 13 Hasadna, Raanan IL (the “Company”) and Montsaic Investments, a corporation incorporated under
the laws of the state of Ohio (the “Investor”). The Investor and the Borrower shall be collectively referred to as
“Parties”.

 

RECITALS

 

WHEREAS,
the parties entered into a promissory note and loan agreement dated June 1, 2019 (the “Original Note”), pursuant to
which the Investor received warrants convertible into thirty-three percent (33%) of all outstanding shares of the Company on a
Fully-diluted and fully-issued basis (the “Warrants”) on the earlier of (i) the date that any initial public offering,
acquisition, merger, reverse merger or other transaction not in the ordinary course of business is consummated or (ii) any date
on which the Investor elects to convert such Warrants into shares of common stock so long as such date is no later than 12 months
from the date of the Original Note at an agreed and confirmed valuation of the Company of Five Million Dollars ($5,000,000); and

 

WHEREAS,
in order to obtain certain tax and structuring benefits in connection with a series of transactions that will result in the Company
becoming an indirect subsidiary of Lazex Inc., a Nevada corporation, the Parties now wish to (i) enter into this agreement in
respect of the Warrants and (ii) amend and restate the Original Note.

 

AGREEMENT

 

Now,
therefore, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto
agree as follows:

 

1.
Warrants.

 

1.1
In consideration for the loan made by the Investor to the Company pursuant to the Original Note, the Company hereby issues to
the Investor warrants covering 100% of the Loan (as defined in the Original Note) in the form attached hereto as Annex A and
reflecting the following terms and conditions (the “Warrants”):

 

	 	a.	The Warrants are convertible into thirty-three percent
(33%) of all outstanding shares of the Company on a Fully-diluted and fully-issued basis on the earlier of (i) the date that any
initial public offering, acquisition, merger, reverse merger or other transaction not in the ordinary course of business is consummated
or (ii) any date on which the Investor elects to convert the Warrants into shares of common stock of the Company so long as such
date is no later than 12 months from the date hereof at an agreed and confirmed valuation of the Company of Five Million Dollars
(U.S. $5,000,000).	 

 

    	 	 	 

    	 

    

 

	 	b.	The term “Fully-diluted and fully issued basis”
means that all options, warrants or other convertible securities or instruments or other rights to acquire common stock or any
other existing or future classes of stock of the Company have been exercised or converted, as applicable, in full regardless of
whether any such options, warrants or other convertible securities or instruments or other rights are then vested, convertible
or exercisable in accordance with their terms.	 
	 	 	 	 
	 	c.	The Warrants and the underlying shares of common stock
exercisable thereto shall be collectively referred to as the “Securities.”	 

 

1.2
The Warrants shall be exercisable for a period of 12 months of the Effective Date.

 

2.
Provisions Pertaining to Registration and Transfer of the Warrants

 

	 	a.	The Parties further acknowledge and are aware that the
Securities may only be disposed of in compliance with respective U.S. state and U.S. federal securities laws (including without
limitations, any holding period requirements). In connection with any transfer of Securities other than pursuant to an effective
registration statement, the Company may require the transferor thereof to provide to the Company an opinion of counsel selected
by the transferor and reasonably acceptable to the Company, the form and substance of which opinion shall be reasonably satisfactory
to the Company, to the effect that such transfer does not require registration of such transferred Securities under the Securities
Act of 1933, as amended (the “Securities Act”).	 

 

	 	b.	The Lender agrees to the imprinting, so long as is required
by this Section 3.3 of a legend on any of the Securities in the following form:	 
	 	 	 	 
	 	 	“THIS
SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURIT!ES COMMISSION OF ANY STATE IN RELIANCE
UPON AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY,
MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
APPLICABLE U.S. STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE
OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.”	 

 

    	 	 	 

    	 

    

 

	 	c.	Certificates evidencing the Securities shall not contain
any legend (including the legend set forth in this Section): (i) while a registration statement covering the resale of such security
is effective under the Securities Act, (ii) following any sale of such Securities pursuant to Rule 144, (iii) if the Securities
are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information
required under Rule 144 as to such Securities and without volume or manner-of-sale restrictions, or (iv) if such legend is not
required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by
the staff of the Securities Exchange Commission).	 

 

	 	d.	In the event that the Lender will sell any Securities
pursuant to either the registration requirements of the Securities Act, including any applicable prospectus delivery requirements,
or an exemption therefrom, and that if the Securities are sold pursuant to a Registration Statement, they will be sold in compliance
with the plan of distribution set forth therein, and acknowledges that the removal of the restrictive legend from certificates
representing the Securities as set forth herein is predicated upon the Company’s reliance upon this understanding.	 

 

	 	e.	With respect to any Warrants issued hereunder, the Company
shall, immediately upon such issuance, provide its transfer agent with an irrevocable instruction to reserve sufficient respective
number of underlying shares of common stock issuable per such Warrant, so long as each such respective Warrant is exercisable.	 

 

    	 	 	 

    	 

    

 

Annex
A

 

THIS
WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF ARTICLE 4 BELOW, MAY NOT BE OFFERED, SOLD OR
OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW
OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR
TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION.

 

WARRANT
TO PURCHASE COMMON STOCK

 

Company:
Slinger Bag Ltd

 

Holder:
Montsaic Investments

 

Shares:
thirty-three percent (33%) of all outstanding shares of the Company on a Fully-diluted and fully-issued basis on the earlier of
(i) the date that any initial public offering, acquisition, merger, reverse merger or other transaction not in the ordinary course
of business is consummated or (ii) any date on which the Investor elects to convert the Warrants into shares of common stock of
the Company so long as such date is no later than 12 months from the date hereof at an agreed and confirmed valuation of the Company
of Five Million Dollars (U.S. $5,000,000) (collectively, “One Third of the Company”) 

 

Class
of Stock: Ordinary/common shares of stock of the Company

 

Exercise
Price: not applicable; the Warrants evidenced hereby are exercisable without consideration

 

Issue
Date: September 16, 2019

 

Term:
See Section 4.1

 

THIS
WARRANT CERTIFIES THAT, for value received as consideration pursuant to that certain Original Note dated June 1, 2019 (as defined
in the Slinger Warrant Agreement of even date herewith) and for other good and valuable consideration the sufficiency of which
is hereby acknowledged, Holder is entitled to receive One Third of the Company in the form of fully paid and nonassessable shares
of the Company at the Exercise Price, all as set forth herein, subject to the provisions and upon the terms and conditions set
forth in this Warrant.

 

    	 	 	 

    	 

    

 

ARTICLE
1. EXERCISE.

 

1.1
Method of Exercise. Holder may exercise this Warrant by delivering a duly executed Notice of Exercise in substantially
the form attached as Appendix 1 hereto to the principal office of the Company.

 

1.2
Delivery of Certificate and New Warrant. Promptly after Holder exercises this Warrant, the Company shall deliver to Holder
certificates for or other evidence (reasonably acceptable to the Holder) of the Shares received and, if this Warrant has not been
fully exercised and has not expired, a new Warrant representing the Shares not so received.

 

1.3
Replacement of Warrants. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction
or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably
satisfactory in form and amount to the Company or, in the case of mutilation, on surrender and cancellation of this Warrant, the
Company shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor.

 

ARTICLE
2. ADJUSTMENTS TO THE SHARES.

 

2.1
Stock Dividends, Splits, Combinations, Etc. If the Company declares or pays a dividend on the Shares payable in Common
Stock, or other securities, then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without cost to
Holder, the total number and kind of securities to which Holder would have been entitled had Holder owned the Shares of record
as of the date the dividend occurred. If the Company subdivides the Shares by reclassification or otherwise into a greater number
of shares or takes any other action which increases the amount of stock into which the Shares are convertible, the number of shares
purchasable hereunder shall be proportionately increased and the Exercise Price shall be proportionately decreased. If the outstanding
shares of the Company are combined or consolidated, by reclassification or otherwise, into a lesser number of shares, the Exercise
Price shall be proportionately increased and the number of Shares shall be proportionately decreased.

 

2.2
Reclassification, Exchange or Substitution, Etc. Upon any reclassification, exchange, substitution, or other event that
results in a change of the number and/or class of the securities issuable upon exercise or net exercise of this Warrant, Holder
shall be entitled to receive, upon exercise or net exercise of this Warrant, the number and kind of securities and property that
Holder would have received for the Shares if this Warrant had been exercised immediately before such reclassification, exchange,
substitution, or other event. The Company or its successor shall promptly issue to Holder an amendment to this Warrant setting
forth the number and kind of such new securities or other property issuable upon exercise or net exercise of this Warrant as a
result of such reclassification, exchange, substitution or other event that results in a change of the number and/or class of
securities issuable upon exercise or net exercise of this Warrant.

 

2.3
Merger or Consolidation. Upon any capital reorganization of the Company’s capital stock (other than a subdivision,
combination, reclassification or exchange of shares provided for elsewhere in this Section 2) or a merger or consolidation of
the Company with or into another corporation, then as a part of such reorganization, merger or consolidation, provision shall
be made so that the Holder shall thereafter be entitled to receive upon the exercise of this Warrant, the number and kind of securities
and property of the Company, or of the successor corporation resulting from such reorganization, merger or consolidation, to which
that Holder would have received for the Shares if this Warrant had been exercised immediately before such reorganization, merger
or consolidation.

 

    	 	 	 

    	 

    

 

2.4
Fractional Shares. No fractional Shares shall be issuable upon exercise or net exercise of this Warrant and the number
of Shares to be issued shall be rounded up to the nearest whole Share.

 

ARTICLE
3. COVENANTS OF THE COMPANY.

 

3.1
Notice of Certain Events. If the Company proposes at any time (a) to declare any dividend or distribution upon any of its
stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; (b) to effect any reclassification
or recapitalization of any of its stock; or (c) to merge or consolidate with or into any other corporation, or sell, lease, license,
or convey all or substantially all of its assets, or to liquidate, dissolve or wind up, then, in connection with each such event,
the Company shall give Holder: (1) at least three (3) days prior written notice of the date on which a record will be taken for
such dividend, distribution, or subscription rights (and specifying the date on which the holders of Common Stock will be entitled
thereto) or for determining rights to vote, if any, in respect of the matters referred to in (a) above; and (2) in the case of
the matters referred to in (b) and (c) above at least three (3) days prior written notice of the date when the same will take
place (and specifying the date on which the holders of Common Stock will be entitled to exchange their Common Stock for securities
or other property deliverable upon the occurrence of such event).

 

3.2
No Stockholder Rights or Liabilities. Except as provided in this Warrant, the Holder will not have any rights as a stockholder
of the Company until the exercise of this Warrant. Absent an affirmative action by the Holder to purchase the Shares, the Holder
shall not have any liability as a stockholder of the Company.

 

3.3
Closing of Books. The Company will at no time close its transfer books against the transfer of this Warrant or of any Shares
issued or issuable upon the exercise of this Warrant in any manner which interferes with the timely exercise of this Warrant.

 

ARTICLE
4. MISCELLANEOUS.

 

4.1
Term. This Warrant is exercisable in whole or in part at any time and from time to time on or before the earlier of 5:00
pm Israel Time on the first (1st) anniversary of the Issue Date.

 

4.2
Legends. This Warrant and the Shares (and the securities issuable, directly or indirectly, upon conversion of the Shares,
if any) shall be imprinted with a legend in substantially the following form:

 

THIS
WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND
UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE
SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION.

 

    	 	 	 

    	 

    

 

4.3
Transfers. This Warrant and the Shares issuable upon exercise of this Warrant (and the securities issuable, directly or
indirectly, upon conversion of the Shares, if any) may not be transferred or assigned in whole or in part without compliance with
applicable federal and state securities laws by the transferor and the transferee (including, without limitation, the delivery
of investment representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the
Company). After compliance with all restrictions on transfer set forth in this Section 4.3, and within a reasonable time after
the Company’s receipt of an executed Assignment Form in the form attached hereto, the transfer shall be recorded on the
books of the Company upon the surrender of this Warrant, properly endorsed, to the Company at its principal offices, and the payment
to the Company of all transfer taxes and other governmental charges imposed on such transfer. In the event of a partial transfer,
the Company shall issue to the new holders one or more appropriate new warrants.

 

4.4
Notices. All notices and other communications from the Company to the Holder, or vice versa, shall be deemed delivered
and effective when given personally or mailed by first-class registered or certified mail, postage prepaid, at such address as
may have been furnished to the Company or the Holder, as the case may (or on the first business day after transmission by facsimile)
be, in writing by the Company or such Holder from time to time. Effective upon receipt of the fully executed Warrant, all notices
to the Holder shall be addressed as set forth on the signature page hereto until the Company receives notice of a change of address
in connection with a transfer or otherwise. Notice to the Company shall be addressed as set forth on the signature page hereto
until the Holder receives notice of a change in address.

 

4.5
Waiver. This Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing
signed by the party against which enforcement of such change, waiver, discharge or termination is sought.

 

4.6
Counterparts. This Warrant may be executed in counterparts, all of which together shall constitute one and the same agreement.

 

4.7
Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of New York, without
giving effect to its principles regarding conflicts of law.

 

Please
indicate your acceptance of these terms by countersigning where indicated below.

 

	Slinger
    Bag Ltd	 
	 	 	 
	 	/s/
    Zehava Tepler	 
	Title:	Authorized
    signatory	 
	 	 	 
	Agreed and accepted:	 
	 	 	 
	Montsaic
    Investments	 
	 	 	 
	 	/s/
    Noah Scheinbaum	 
	 	Authorized
    signatory	 

 

    	 	 	 

    	 

    

 

Appendix
1

 

SLINGER
BAG LTD

CONVERSION
NOTICE

 

Reference
is made to the Warrant Agreement dated September 16, 2019 between Slinger Bag Ltd and Montsaic Investments (the “Warrant
Agreement”). In accordance with and pursuant to the Warrant Agreement, the undersigned hereby elects to convert the Warrant
into thirty-three percent (33%) of all outstanding ordinary/common (or its equivalent) shares of the Company on a Fully-diluted
and fully-issued basis ordinary/common, as of the date specified below. Capitalized terms used but not defined herein have the
meanings assigned to such terms in the Warrant Agreement.

 

	 	Date
    of Conversion:	 

 

	 	Number
    of shares of ordinary/common (or its equivalent) stock to be issued:	 

 

 

Please
issue the ordinary/common (or its equivalent) shares of common stock in the following name and to the following address:

 

Issue
to: _________________________________________

________________________________________________

 

Address:
_________________________________________

 

Telephone
Number: _________________________________

 

Email
address: _____________________________________

 

Holder:
__________________________________________

By:

Title:

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