Document:

Exhibit 10.6

 Unless
permitted under securities legislation, the holder of this security must not trade the security before JULY 18, 2017.

WARRANT TO PURCHASE COMMON SHARES

OF

VERSUS SYSTEMS INC.

(the "Company")

(Organized under the laws of the Province
of British Columbia)

Warrant Certificate No:

Issue Date: March 17, 2017

THIS IS TO CERTIFY THAT, for value received,
PURCHASER, the holder of this Warrant, is entitled to purchase:

#,###

non-assessable common shares of the Company
as such shares were constituted on the Issue Date at any time up to 4:30 p.m. local time at the City of Vancouver, British Columbia
at and for a price of C$0.40 per share, of lawful money of Canada, up to and including March 17, 2022 (the "Expiry Date")
upon and subject to the terms and conditions attached hereto.

This Warrant and the common shares to
be issued upon its exercise have not been registered under the United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or the securities laws of any state of the United States. This Warrant may not be exercised in the United
States or by or on behalf of any U.S. person or person in the United States, directly or indirectly, unless (i) the common shares
are registered under the U.S. Securities Act and the applicable laws of any such state, or (ii) an exemption from such registration
requirements is available. "United States" and "U.S. person" are as defined in Regulation S under the U.S.
Securities Act.

VERSUS SYSTEMS INC.

	Per:	

Director/Officer	 

	NOTE:	 Any share certificates issued upon exercise of this Warrant prior to the expiry of the hold periods will be printed with the
corresponding legends.

    1 

     

    

 

TERMS, CONDITIONS AND INSTRUCTIONS

		1.	The holder of this Warrant may subscribe for up to the number of shares ("Warrant Shares")
of the Company indicated on the face hereof in accordance with and subject to the terms and conditions set out in this Warrant.

		2.	For each Warrant Share purchased pursuant to this Warrant, payment must be made in the amount of
C$0.40 per Warrant Share (the "Exercise Price"). All payments must be made in Canadian funds, in cash or by certified
cheque, bank draft or money order payable, at par, in Vancouver, British Columbia, made payable to the Company’s name set
out on the face hereof or, if such name is changed after the Issue Date, the Company's then current name. If payment is made by
way of an uncertified cheque, the Company reserves the right to deem that the payment has not been received until the cheque has
cleared the account upon which it has been drawn.

		3.	To exercise the rights evidenced by this Warrant, this Warrant with the Warrant Exercise Form attached
as Appendix 1 hereto (the "Warrant Exercise Form") completed and payment as required for the shares subscribed
for, must be delivered or mailed to the offices of the Company at 302 – 1620 West 8th Avenue, Vancouver, BC V6J
1V4 or, if such address is changed after the Issue Date, the then current head office address of the Company, and received by the
Company.

		4.	The rights evidenced by this Warrant expire at 4:30 p.m. local time in Vancouver, British Columbia
on the Expiry Date. If this Warrant is not exercised on or before its expiry, the Warrant shall be void and all rights evidenced
thereby shall forthwith cease to represent a right or claim of any nature.

		5.	Any certificate representing Warrant Shares issued upon the exercise of this Warrant prior to the
date that is four months and one day after the Issue Date will bear the following legends:

Unless permitted under
securities legislation, the holder of this security must not trade the security before [four months plus one day after the Issue
Date.].

		6.	The rights evidenced by this Warrant may be transferred or assigned by the holder, subject to all
applicable regulatory and legal requirements and the approval of the Company, by duly completing and executing the Warrant Transfer
Form attached as Appendix 2 hereto.

		7.	The rights to purchase Warrant Shares granted by this certificate may be exercised, subject to
the terms and conditions hereof, in whole or in part (but not as to a fractional share) from time to time.

		8.	This Warrant does not entitle the holder to any rights as a shareholder of the Company, including,
without limitation, voting rights.

		9.	If this Warrant or the purchase price are forwarded by mail, it is suggested that registered mail
be used as the Company and the Company's registrar and transfer agent will not be responsible for any losses which occur through
the use of mails.

		10.	The Company shall, no more than five business days after delivery of this Warrant, together with
a duly executed Warrant Exercise Form and payment as required for the shares subscribed for, issue and deliver to the holder certificates
for that number of shares subscribed for, at the address shown on the Warrant Exercise Form.

		11.	The rights evidenced by this Warrant are to purchase common shares in the capital stock of the
Company as they were constituted on the Issue Date. If after such date and prior to the exercise of any of the rights evidenced
by this Warrant, there shall be any change in the common shares of the Company whether by consolidation, sub-division, reclassification,
payment of any stock dividends, or otherwise, then an appropriate adjustment shall be made in either or both of (i) the number
of common shares issuable on exercise of the rights evidenced by this Warrant and (ii) the Exercise Price; and if the Company shall
amalgamate with, consolidate with or merge with or into, or participate in a statutory arrangement or similar reorganization with
another corporation or entity, any common shares of the Company issuable on exercise of the rights evidenced by this Warrant shall
be converted into the securities, property, or cash which the holder would have received upon such amalgamation, consolidation,
merger, arrangement or reorganization had the Warrants been exercised prior to such event becoming effective, subject to the approval
of any stock exchange on which the Company's shares are listed (if required). Any adjustment contemplated herein shall be to the
effect that the rights evidenced by this Warrant shall thereafter be as reasonably as possible equivalent to those originally granted
hereby. In accordance with this certificate, the Company will make adjustments as it considers necessary and equitable acting in
good faith, subject to any approvals required by any stock exchange on which the Company's shares are listed. If at any time a
dispute arises with respect to adjustments provided for herein, such dispute will be conclusively determined by the auditors of
the Company or if they are unable or unwilling to act, by such other firm of independent chartered accountants as may be selected
by the directors of the Company and any such determination, absent manifest error, will be binding upon the Company, the holder
of this Warrant and shareholders of the Company.  The Company will provide such auditors or accountants with access to all
necessary records of the Company and fees payable to such accountants or auditors will be paid by the Company.

    2 

     

    
		12.	The Company will at all times until the expiry of this Warrant keep available, and reserve if necessary,
out of its authorized shares, solely for the purpose of issue upon the exercise of this Warrant, such number of Warrant Shares
of the Company as shall then be issuable upon the exercise of this Warrant. The Company covenants and agrees that all shares which
shall be so issuable will, upon issuance, be issued as fully paid and non-assessable and free from all liens, charges and encumbrances.

		13.	The Company will maintain at its offices a register (the "Register") of the names
and addresses of the registered holders of the share purchase warrants issued by the Company in the private placement under which
this Warrant was issued, which Register will be updated to reflect exercises and, if applicable, transfers of the share purchase
warrants.

		14.	Unless herein otherwise expressly provided, any notice (a "Notice") to be given
hereunder to the holder of the Warrant shall be deemed to be validly given if the Notice is sent by first class mail, postage prepaid,
addressed to the holder or delivered by hand at the address appearing on the Register and if, in the case of joint holders of the
Warrant, more than one address appears on the Register in respect of that joint holding, the Notice shall be addressed or delivered,
as the case may be, only to the first address, as the case may be, so appearing. Any Notice so given shall be deemed to have been
given on the day of delivery by hand or on the next business day if delivered by mail. If, by reason of strike, lockout or other
work stoppage, actual or threatened, involving postal employees, any Notice to be given to the holder of the Warrant could reasonably
be considered unlikely to reach its destination, the Notice may be published or distributed once in the Report on Business section
of the national edition of The Globe and Mail newspaper or, in the event of a disruption in the circular of that newspaper, once
in a daily newspaper in the English language of general circulation in Vancouver, British Columbia and Toronto, Ontario. Any Notice
so given shall be deemed to have been given on the day on which it has been published in all of the cities in which publication
was required (or first published in a city if more than one publication in that city is required).

		15.	This Warrant certificate is to be governed by and construed in accordance with the laws of the
Province of British Columbia and the laws of Canada applicable therein.

    3 

     

    

APPENDIX 1 TO WARRANT CERTIFICATE

WARRANT EXERCISE FORM

The undersigned, holder of the within
Warrant, hereby subscribes for _______________________ common shares of VERSUS SYSTEMS INC. (the "Company"). If
the number of common shares purchased hereby does not exercise all of the rights evidenced by this Warrant, the holder requests
issuance and delivery to it at the following address of a new Warrant evidencing the unused rights. The undersigned represents
and warrants that it is not a U.S. Person, did not receive the offer to purchase the securities in the United States, did not execute
this subscription form in the United States and is not purchasing the securities for the account or for the benefit of a U.S. Person
or person in the United States. "United States" and "U.S. Person" are as defined in Regulation S under the
United States Securities Act of 1933, as amended.

The undersigned directs that the common
shares hereby subscribed for be issued and delivered to it as follows:

	NAME	 	ADDRESS	 	NO. OF SHARES
	  	 	  		  
		 		 	
			 		 

 

In the absence of instructions to the
contrary, the securities or other property will be issued in the name of or to the holder hereof and will be sent by first class
mail to the last address of the holder appearing on the register maintained for the Warrants.

 

DATED the ________day of  
                    , 20__.

 

	 	 	 
	Signature Guaranteed	 	(Signature of Warrantholder)
	 	 	 
	 	 	 
	 	 	Print full name
	 	 	 
	 	 	 
	 	 	Print full address
	 	 	 
	 	 	 

 

		Instructions:	

		1.	The registered holder may exercise its right to receive Warrant Shares by completing this form
and surrendering this form and the Warrant Certificate representing the Warrants being exercised together with payment of the aggregate
Exercise Price, by certified cheque, bank draft or money order payable to the order of the Company’s name set out above or,
if such name is changed after the Issue Date, the Company’s then current name, to the head office of the Company , and such
other documents as the Company may reasonably require, all in accordance with the Terms, Conditions and Instructions set out in
the within Warrant.

		2.	If the Warrant Exercise Form indicates that common shares are to be issued to a person or persons
other than the registered holder of the Warrant Certificate, the signature of such holder of the Warrant Exercise Form must be
guaranteed by an authorized officer of a chartered bank, trust company or medallion guaranteed by an investment dealer who is a
member of a recognized stock exchange.

		3.	If the Warrant Exercise Form is signed by a trustee, executor, administrator, curator, attorney,
officer of a Company or any person acting in a judiciary or representative capacity, the certificate must be accompanied by evidence
of authority to sign satisfactory to the Company.

    4 

     

    

APPENDIX 2 TO WARRANT CERTIFICATE

WARRANT TRANSFER FORM

 

TO:VERSUS SYSTEMS INC. (the "Company")

FOR VALUE RECEIVED, subject to receipt of
prior written approval of the Company, the undersigned (the "Transferor") hereby sells, assigns and
transfers unto (name)                                               
(the "Transferee") of (residential address)                                                                                                         ,
_______________ (no. of Warrants) Warrants of the Company registered in the name of the undersigned represented by the within
Warrant certificate, and irrevocably appoints the Company as the attorney of the undersigned to transfer the said securities
on the register of transfers for the said Warrants, with full power of substitution.

 

The Transferor hereby certifies that (check either A or B):

 

		____	(A)the transfer of the Warrants is being completed pursuant to an exemption from the registration
requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), in which
case the Transferor has delivered or caused to be delivered by the Transferee a written opinion of U.S. legal counsel acceptable
to the Company to the effect that the transfer of the Warrants is exempt from the registration requirements of the U.S. Securities
Act; or

 

		____	(B)the transfer of the Warrants is being made in reliance on Rule 904 of Regulation S under
the U.S. Securities Act, and certifies that:

 

		(1)	the Transferor is not an "affiliate" (as defined in Rule 405 under the U.S. Securities
Act, except any officer or director who is an affiliate solely by virtue of holding such position) of the Company or a "distributor",
as defined in Regulation S, or an affiliate of a "distributor";

 

		(2)	the offer of such securities was not made to a person in the United States and at the time the
buy order was originated, the Transferee was outside the United States, or the Transferor and any person acting on its behalf reasonably
believe that the Transferee was outside the United States;

 

		(3)	neither the Transferor nor any affiliate of the Transferor nor any person acting on their behalf
engaged in any directed selling efforts (as defined under Regulation S of the U.S. Securities Act) in connection with the offer
and sale of the Warrants;

 

		(4)	the sale is bona fide and not for the purpose of "washing off" the resale restrictions
imposed because the Warrants are "restricted securities" (as such term is defined in Rule 144(a)(3) under the U.S. Securities
Act);

 

		(5)	the Transferor does not intend to replace the securities sold in reliance on Rule 904 of the U.S.
Securities Act with fungible unrestricted securities; and

 

		(6)	the contemplated sale is not a transaction, or part of a series of transactions which, although
in technical compliance with Regulation S, is part of a plan or a scheme to evade the registration provisions of the U.S.
Securities Act.

 

 

DATED the ________day of  
                    , 20__.

 

	 	 	 
	Signature Guaranteed	 	(Signature of Transferor)
	(only if the Warrants are registered in the name of someone other than the Transferor)	 	
	 	 	 
	 	 	Print full name
	 	 	 
	 	 	 
	 	 	Print full address
	 	 	 
	 	 	 

 

The Warrants and the common shares issuable upon exercise of the Warrants shall only be transferable in accordance with applicable
laws. The Warrants may only be exercised in the manner required by the certificate representing the Warrants and the Warrant Exercise
Form attached thereto. Any common shares acquired pursuant to this Warrant shall be subject to applicable hold periods and any
certificate representing such common shares will bear restrictive legends.

 

    5Exhibit
10.7

 

VERSUS
SYSTEMS INC.

 

2017
STOCK OPTION PLAN

 

ADOPTED
BY THE BOARD OF DIRECTORS ON MAY 17, 2017

 

1.
PURPOSE: The purpose of this Stock Option Plan (the “Plan”) is to enable Versus Systems Inc. (the “Corporation”)
and its subsidiaries or affiliates to attract and retain directors, officers, employees, consultants and advisors who will contribute
to the Corporation's success by their ability, ingenuity and industry, and to enable such persons to participate in the long-term
success and growth of the Corporation by giving them a proprietary interest in the Corporation in the form of options to purchase
common shares of the Corporation (the “Stock Options”).

 

2.
ELIGIBILITY: Stock Options may be granted under the Plan to:

 

(a)
directors, officers or employees, whether full or part time, of the Corporation or of any person or company that controls or is
controlled by the Corporation or that is controlled by the same person or company that controls the Corporation (an “Affiliated
Entity”);

 

(b)
bona fide consultants or advisors to the Corporation or to an Affiliated Entity, and such other service providers as may
be permitted by regulatory authorities;

 

(collectively,
the “Eligible Persons”) provided, however, that Stock Options may be conditionally granted to persons who are prospective
directors, officers or employees of, or consultants, advisors or service providers to, the Corporation or an Affiliated Entity,
but no such grant shall become, by its terms, effective earlier than the date as of which the board of directors approves the
grant or the date as of which the prospective Eligible Persons becomes a director, officer or employee of, or a consultant or
advisor to (as the case may be), the Corporation. For the purposes of this section 2, a person or company shall be considered
to control another person or company if the first person or company provides, directly or indirectly, the principal direction
or influence over the business and affairs of the second person or company by virtue of (i) ownership or direction of voting securities
of the second person or company, (ii) a written agreement or indenture, (iii) being or controlling the general partner of a limited
partnership, or (iv) being a trustee of a trust.

 

3.
ADMINISTRATION: The Plan shall be administered by the Board of Directors of the Corporation or any committee of the Board
of Directors of the Corporation appointed for that purpose (the “Board”), who shall have full authority to interpret
the Plan and to make such rules and regulations and establish such procedures as they deem appropriate for the administration
of the Plan. A decision of the majority of persons comprising the Board in respect of any matter hereunder shall be binding and
conclusive for all purposes and upon all persons. The Board is authorized and directed to do all things and execute and deliver
all instruments, undertakings and applications as they in their absolute discretion consider necessary for the implementation
of the Plan.

 

4.
SHARES SUBJECT TO THE PLAN: The total number of common shares of the Corporation (the “Shares”) which are at any
one time reserved and set aside for issuance under this Plan, and under all other management options outstanding and employee
stock purchase plans, if any, shall not in the aggregate exceed a number of Shares equal to 15% of the number of Shares issued
and outstanding at that time. All Shares issued pursuant to the Plan will be issued as fully paid Shares. The maximum number of
Shares which are reserved and set aside for issuance under this Plan may be subsequently increased as further Shares are issued
by the Corporation, or by further votes of the shareholders of the Corporation. Any Stock Options granted under the Plan which
are cancelled, terminated or expire, will remain available for granting under the Plan at the current Market Price (as defined
in section 7(b), below), subject to regulatory approval.

 

     

     

    

 

The
aggregate number of shares reserved for issuance to any one optionee, whether under this Plan or any other share option agreement,
option for services or share purchase plan of the Corporation, shall, unless permitted by regulatory authorities having jurisdiction
and by a vote of shareholders, not exceed five percent (5%) of the aggregate number of issued and outstanding shares of the Corporation
in any 12 month period.

 

In
the case of optionees who are consultants, the aggregate number of shares reserved for issuance to any one consultant, whether
under this Plan or any other share option agreement, option for services or share purchase plan of the Corporation, shall, unless
permitted by regulatory authorities having jurisdiction and by a vote of shareholders, not exceed two percent (2%) of the aggregate
number of issued and outstanding shares of the Corporation in any 12 month period.

 

The
aggregate number of shares reserved for issuance to all optionees who are granted options as a consultant or employee engaged
in investor relations activities shall not exceed two percent (2%) of the issued and outstanding shares in any 12 month period
and shall vest in stages over 12 months with no more than one quarter of the options vesting in any three month period. The Corporation
must obtain disinterested shareholder approval of stock options if a stock option plan, together with all of the Corporation’s
previously established and outstanding stock option plans or grants, could result at any time in the number of Shares reserved
for issuance under stock options granted to insiders exceeding 15% of the issued shares.

 

5.
PARTICIPATION: Stock Options shall be granted under the Plan only to Eligible Persons as shall be designated from time to
time by the Board and shall be subject to the approval by such regulatory authorities as may have jurisdiction. Approval of the
Plan also constitutes shareholder approval of Stock Options that may be granted under the Plan as provided herein.

 

6.
OPTION AGREEMENTS: Each Stock Option shall be evidenced by a written agreement (an “Option Agreement”), containing
such terms and conditions, not inconsistent with the Plan, as the Board may, in its discretion, determine. Each Option Agreement
shall be executed by the Corporation and the optionee. Option Agreements may differ among optionees.

 

7.
TERMS AND CONDITIONS OF OPTIONS: Subject to the provisions of section 11 herein, the terms and conditions of each Stock Option
granted under the Plan shall include the following, as well as such other provisions, not inconsistent with the Plan as may be
deemed advisable by the Board:

 

	 	(a)	Number
    of Shares: At no time shall the number of Shares reserved for issuance to any one person pursuant to stock options, granted
    under the Plan or otherwise, exceed five (5%) percent of the outstanding Shares in any 12 month period.

 

	 	(b)	Option
    Price: The option price of an Stock Option granted under the Plan shall be fixed by the Board but shall be not less than
    the Market Price (as defined herein) of the Shares at the time the Stock Option is granted, or such lesser price as may be
    permitted pursuant to the rules of any regulatory authority having jurisdiction over the Shares issued which rules may include
    provisions for certain discounts in respect to the option price. For the purpose of this paragraph, the "Market Price"
    at any date in respect of the Shares shall mean, subject to a minimum exercise price of $0.10 per option, the greater of:

 

	 	(i)	the
    closing price of such Shares on a stock exchange on which the Shares are listed and posted for trading or a quotation system
    for a published market upon which the price of the Shares is quoted, as may be selected for such purpose by the Board (the
    “Market”), on the last trading day prior to the date the Stock Option is granted; and

 

	 	(ii)	the
    closing price of such Shares on the Market on the date on which the Stock Option is granted. In the event that such Shares
    did not trade on such trading day, the Market Price shall be the average of the bid and ask prices in respect of such Shares
    at the close of trading on such trading day as reported thereof. In the event that such Shares are not listed and posted for
    trading or quoted on any Market, the Market Price shall be the fair market value of such Shares as determined by the Board
    in its sole discretion.

 

	 	(c)	Reduction
    in Option Price: The option price of a Stock Option granted under the Plan to an insider of the Corporation (as that term
    is defined in the Securities Act (British Columbia)) shall not be reduced without prior approval from the disinterested shareholders
    of the Corporation.

 

    2

     

    

 

	 	(d)	Payment:
    The full purchase price payable for shares under a Stock Option shall be paid in cash or certified funds upon the exercise
    thereof. A holder of a Stock Option shall have none of the rights of a shareholder until the Shares are paid for and issued.

 

	 	(e)	Term
    of Option: Stock Options may be granted under this Plan for a period not exceeding ten (10) years. Any Stock Options granted
    pursuant hereto, to the extent not validly exercised, will terminate on the date of expiration specified in the option agreement,
    subject to earlier termination as provided in sections 8, 10 and 11 below.

 

	 	(f)	Vesting:
    Unless the Board determines otherwise at its discretion, a Stock Option shall vest immediately upon being granted.

 

	 	(g)	Exercise
    of Option: Subject to the provisions contained in sections 8, 10 and 11 below, no Stock Option may be exercised unless
    the optionee is at the time of exercise an Eligible Person (as defined in section 1, above). If the optionee is an employee
    or consultant, the optionee shall represent to the Corporation that he or she is a bona fide employee or consultant of the
    Corporation. This Plan shall not confer upon the optionee any right with respect to continuation of employment by the Corporation.
    Leave of absence approved by an officer of the Corporation authorized to give such approval shall not be considered an interruption
    of employment for any purpose of the Plan. Subject to the provisions of the Plan, a Stock Option may be exercised from time
    to time by delivery to the Corporation of written notice of exercise specifying the number of shares with respect to which
    the Stock Option is being exercised and accompanied by payment in full, by cash or certified cheque, of the purchase price
    of the Shares then being purchased.

 

	 	(h)	Non-transferability
    of Stock Option: No Stock Option shall be assignable or transferable by the optionee, except to a personal holding corporation
    of the optionee, other than by will or the laws of descent and distribution.

 

	 	(i)	Applicable
    Laws or Regulations: The Corporation's obligation to sell and deliver Shares under each Stock Option is subject to such
    compliance by the Corporation an any optionee as the Corporation deems necessary or advisable with regards to any laws, rules
    and regulations of Canada and any provinces and/or territories thereof applying to the authorization, issuance, listing or
    sale of securities and is also subject to the acceptance for listing of the Shares which may be issued upon the exercise thereof
    by each stock exchange upon which Shares of the Corporation are then listed for trading.

 

    3

     

    

 

8.
TERMINATION OF EMPLOYMENT, DISABILITY AND DEATH: Unless the Option Agreement provides otherwise, all Stock Options will terminate:

 

	 	(a)	in
    the case of Stock Options granted to an employee or consultant employed or retained to provide investment relations services,
    thirty (30) days after the optionee ceases to be employed or retained to provide investment relations services;

 

	 	(b)	in
    the case of Stock Options granted to other employees, consultants, directors, officers or advisors, ninety (90) days following
    (i) the termination by the Corporation, with or without cause, of the optionee's employment or other relationship with the
    Corporation or an Affiliated Entity, or (ii) the termination by the optionee of any such relationship with the Corporation
    or an Affiliated Entity; or (c) in the case of death or permanent and total disability of the optionee, all Stock Options
    will terminate twelve (12) months following the death or permanent and total disability of the optionee, and the deceased
    optionee's heirs or administrators may exercise all or a portion of the Stock Option during that period. Such period or periods
    shall be set forth in the Option Agreement evidencing such Stock Option.

 

9.
ADJUSTMENTS IN SHARES SUBJECT TO THE PLAN: The aggregate number and kind of Shares available under the Plan and the exercise
price of any Stock Options granted under the Plan shall be appropriately adjusted in the event of a reorganization, recapitalization,
stock split, stock dividend, combination of shares, merger, consolidation, rights offering or any other change in the corporate
structure or shares of the Corporation. In any of such events, the Board may determine the adjustments to be made in the number
and kind of Shares covered by Stock Options theretofore granted or to be granted and in the option price for said Stock Options.

 

    4

     

    

 

10.
AMENDMENT AND TERMINATION OF PLAN: Subject to the approval of regulatory authorities having jurisdiction, the Board may from
time to time amend or revise the terms of the Plan, or may terminate the Plan at any time, provided however that no such action
shall, in any manner adversely affect the rights of any optionee under any Stock Option theretofore granted under the Plan without
said optionee's prior consent. Upon the mutual consent of the optionee and the Board, the terms of an Option Agreement may be
amended, subject to regulatory approval and shareholder approval as may be required from time to time.

 

11.
CORPORATE TRANSACTIONS: In the event of the Shares being exchanged for securities, cash or other property of any other corporation
or entity as the result of a reorganization, merger or consolidation in which the Corporation is not the surviving corporation,
the dissolution or liquidation of the Corporation, or the sale of all or substantially all the assets of the Corporation, the
Board or the board of directors of any successor corporation or entity may, in its discretion and subject to regulatory approval,
as to outstanding Stock Options:

 

	 	(a)	upon
    written notice to the holders thereof, accelerate the exercise date or dates of such Stock Options;

 

	 	(b)	provided
    that the Stock Options have been accelerated pursuant to item (a) above, terminate all such Stock Options prior to consummation
    of the transaction unless exercised within a prescribed period following written notice to the holders thereof;

 

	 	(c)	provide
    for payment of an amount equal to the excess of the Market Price, as determined by the Board or such board of directors of
    any successor corporation or entity, over the option price of such Shares as of the date of the transaction, in exchange for
    the surrender of the right to exercise such Stock Options; or

 

	 	(d)	provide
    for the assumption of such Stock Options, or the substitution therefor of new Stock Options, by the successor corporation
    or entity.

 

12.
ADDITIONAL RESTRICTIONS: Unless an ordinary resolution of disinterested shareholders of the Corporation (being all shareholders
of the Corporation other than those who are Related Persons, as defined below) provides otherwise, the number of Stock Options
which may be granted under the Plan, together with any other share compensation arrangements of the Corporation, is subject to
the following additional restrictions:

 

	 	(a)	at
    no time shall the number of Shares reserved for issuance under Stock Options granted to Related Persons (as defined below)
    exceed 10% of the number of Shares issued and outstanding at that time (the “Outstanding Issue”);

 

	 	(b)	at
    no time shall Related Persons be issued, within a twelve-month period, a number of Shares exceeding 10% of the Outstanding
    Issue;

 

	 	(c)	at
    no time shall the number of Shares reserved for issuance under Stock Options granted to any Related Person and such Related
    Person’s associates exceed 5% of the Outstanding Issue; and

 

	 	(d)	at
    no time shall any one Related Person and such Related Person’s associates be issued, within a twelve-month period, a
    number of Shares exceeding 5% of the Outstanding Issue.

 

    5

     

    

 

Upon
resolution of disinterested shareholders permitting the Corporation to exceed the above specified thresholds, the foregoing restrictions
shall be of no force or effect to the Plan, and the President of the Corporation shall make note of such resolution below:

 

The
undersigned President of the Corporation, hereby confirms that the disinterested shareholders of the Corporation have passed a
resolution permitting the Corporation to exceed the above specified thresholds as of ____________________, _____.

 

DATED
this 17th day of May, 2017.

 

 

“Matthew
Pierce”

Signature
of the President

 

Matthew
Pierce

Print
Name

 

For
the purposes of this section 12, a “Related Person” shall mean a director or senior officer of the Corporation or
an Affiliated Entity.

 

13.
EFFECTIVE DATE AND DURATION OF PLAN: This Plan shall be effective as at May 17, 2017, subject to shareholder approval to be
given by a resolution passed by shareholders of the Corporation at the next annual or special meeting of the shareholders of the
Corporation. Any Stock Options granted prior to such shareholder approval and acceptance shall be conditional upon such approval
and acceptance being given and no such Stock Options may be exercised until such approval and acceptance is given. The Plan shall
remain in full force and effect thereafter from year to year until amended or terminated and for so long thereafter as Stock Options
remain outstanding in favour of any optionee. This Plan was approved by the Corporation’s shareholders at the Annual and
Special Meeting held June 29, 2017.

 

This
Plan was ratified, adopted and re-approved by the Corporation’s shareholders at the 

Annual
and Special Meeting held June 29, 2017.

 

 

6

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