Document:

Exhibit
10.4

 

THIS
NOTE AND THE COMMON STOCK ISSUABLE UPON CONVERSION OF THIS NOTE HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE UNITED STATES
SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER (THE “1933 ACT”)

 

US
$44,000.00

 

TAURIGA
SCIENCES, INC.

8%
CONVERTIBLE REDEEMABLE NOTE DUE APRIL 30, 2021

 

FOR
VALUE RECEIVED, TAURIGA SCIENCES, INC. (the “Company”) promises to pay to the order of ADAR ALEF, LLC and its authorized
successors and permitted assigns (“Holder”), the aggregate principal face amount of Forty Four Thousand Dollars
(U.S. $44,000.00) on April 30, 2021 (“Maturity Date”) and to pay interest on the principal amount outstanding
hereunder at the rate of 8% per annum commencing April 30, 2020 (“Issuance Date”). This Note shall contain
original issue discount of $4,000 such that the purchase price shall be $40,000. The principal of, this Note is payable at 38
Olympia Lane, Monsey, NY 10952, and if changed, last appearing on the records of the Company as designated in writing by the Holder
hereof from time to time. The Company will pay each interest payment and the outstanding principal due upon this Note before or
on the Maturity Date, less any amounts required by law to be deducted or withheld, to the Holder of this Note by check or wire
transfer addressed to such Holder at the last address appearing on the records of the Company. The forwarding of such check or
wire transfer shall constitute a payment of outstanding principal hereunder and shall satisfy and discharge the liability for
princi- pal on this Note to the extent of the sum represented by such check or wire transfer. Interest shall be payable in Common
Stock (as defined below) pursuant to paragraph 4(b) herein.

 

This
Note is subject to the following additional provisions:

 

1.
This Note is exchangeable for an equal aggregate principal amount of Notes of different authorized denominations, as requested
by the Holder surrendering the same. No service charge will be made for such registration or transfer or exchange, except that
Holder shall pay any tax or other governmental charges payable in connection therewith.

 

2.
The Company shall be entitled to withhold from all payments any amounts required to be withheld under applicable laws.

 

 

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3.
This Note may be transferred or exchanged only in compliance with the Securities Act of 1933, as amended (“Act”)
and applicable state securities laws. Any attempted transfer to a non-qualifying party shall be treated by the Company as void.
Prior to due present- ment for transfer of this Note, the Company and any agent of the Company may treat the person in whose name
this Note is duly registered on the Company’s records as the owner hereof for all other purposes, whether or not this Note
be overdue, and neither the Company nor any such agent shall be affected or bound by notice to the contrary. Any Holder of this
Note electing to exercise the right of conversion set forth in Section 4(a) hereof, in addition to the requirements set forth
in Section 4(a), and any prospective transferee of this Note, also is required to give the Company written confirmation that this
Note is being converted (“Notice of Conversion”) in the form an- nexed hereto as Exhibit A. The date
of receipt (including receipt by telecopy) of such Notice of Conversion shall be the Conversion Date.

 

4.
(a) The Holder of this Note is entitled, at its option, at any time after full cash payment, to convert all or any amount of the
principal face amount of this Note then outstanding into shares of the Company’s common stock (the “Common Stock”)
at a price (“Con- version Price”) for each share of Common Stock equal to 65% of the lowest VWAP
of the Com- mon Stock as reported on the National Quotations Bureau OTC market exchange which the Com- pany’s shares
are traded or any exchange upon which the Common Stock may be traded in the future (“Exchange”), for the twenty
prior trading days including the day upon which a Notice of Conversion is received by the Company or its transfer
agent (provided such Notice of Conversion is delivered by fax or other electronic method of communication to the Company or its
transfer agent after 4 P.M. Eastern Standard or Daylight Savings Time if the Holder wishes to include the same day closing price).
If the shares have not been delivered within 3 business days, the Notice of Conversion may be rescinded. Such conversion shall
be effectuated by the Company delivering the shares of Common Stock to the Holder within 3 business days of receipt by the Company
of the Notice of Conversion. Accrued but unpaid interest shall be subject to conversion. No fractional shares or scrip representing
fractions of shares will be issued on conversion, but the number of shares issuable shall be rounded to the nearest whole share.
The Company agrees to honor all conversions submitted pending this increase. In the event the Company experiences a DTC
“Chill” on its shares, the conversion price shall be decreased to 55% instead of 65% while that “Chill”
is in effect. In no event shall the Holder be allowed to effect a conversion if such conversion, along with all other shares
of Company Common Stock beneficially owned by the Holder and its affili- ates would exceed 4.99% of the outstanding shares of
the Common Stock of the Company (which may be increased up to 9.9% upon 60 days’ prior written notice by the Investor).
The conversion discount, look back period and other terms will be adjusted on a ratchet basis if the Company offers a more favorable
conversion discount, interest rate, (whether through a straight discount or in combination with an original issue discount), look
back period or other more favorable term to another party while this note is in effect.

 

(b)
Interest on any unpaid principal balance of this Note shall be paid at the rate of 8% per annum. Interest shall be paid by the
Company in Common Stock (“Interest Shares”). Holder may, at any time, send in a Notice of Conversion to the Company
for Interest Shares based on the formula provided in Section 4(a) above. The dollar amount converted into Interest Shares shall
be all or a portion of the accrued interest calculated on the unpaid principal balance of this Note to the date of such notice.

 

 

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(c)
During the first 6 months following the Issuance Date, the Company may redeem this Note by paying to the Holder an amount equal
to the sum of 140% of the face amount plus any accrued interest. This Note may not be prepaid after the 6-month anniversary of
the Issu- ance Date. The redemption must be closed and paid for within 3 business days of the Company sending the redemption demand
or the redemption will be invalid, and the Company may not re- deem this Note. In the event this Note is not prepaid within the
6-month period, the Conversion Price described in Section 4(a) shall be decreased from 65% to 60% (reflecting an effective con-
version discount of 40%) in addition, if the Note is no prepaid within the 6 month period from the Issuance Date, the Conversion
Price shall be adjusted from using the lowest VWAP of the Com- pany’ s Common Stock for the twenty prior trading
days to the lowest trading price of the Com- pany’s Common Stock for the prior 20 trading days. The parties may mutually
agree to extend the prepayment period of this Note beyond 6 months.

 

(d)
Upon (i) a transfer of all or substantially all of the assets of the Company to any person in a single transaction or series of
related transactions, (ii) a reclassification, capital reorganization or other change or exchange of outstanding shares of the
Common Stock, other than a forward or reverse stock split or stock dividend, or (iii) any consolidation or merger of the Com-
pany with or into another person or entity in which the Company is not the surviving entity (other than a merger which is effected
solely to change the jurisdiction of incorporation of the Company and results in a reclassification, conversion or exchange of
outstanding shares of Common Stock solely into shares of Common Stock) (each of items (i), (ii) and (iii) being referred to as
a “Sale Event”), then, in each case, the Company shall, upon request of the Holder, redeem this Note in cash for 150%
of the principal amount, plus accrued but unpaid interest through the date of re- demption, or at the election of the Holder,
such Holder may convert the unpaid principal amount of this Note (together with the amount of accrued but unpaid interest) into
shares of Common Stock immediately prior to such Sale Event at the Conversion Price.

 

(e)
In case of any Sale Event (not to include a sale of all or substantially all of the Company’s assets) in connection with
which this Note is not redeemed or converted, the Com- pany shall cause effective provision to be made so that the Holder of this
Note shall have the right thereafter, by converting this Note, to purchase or convert this Note into the kind and number of shares
of stock or other securities or property (including cash) receivable upon such reclassifica- tion, capital reorganization or other
change, consolidation or merger by a holder of the number of shares of Common Stock that could have been purchased upon exercise
of the Note and at the same Conversion Price, as defined in this Note, immediately prior to such Sale Event. The forego- ing provisions
shall similarly apply to successive Sale Events. If the consideration received by the holders of Common Stock is other than cash,
the value shall be as determined by the Board of Directors of the Company or successor person or entity acting in good faith.

 

 

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5.
No provision of this Note shall alter or impair the obligation of the Com- pany, which is absolute and unconditional, to pay the
principal of, and interest on, this Note at the time, place, and rate, and in the form, herein prescribed.

 

6.
The Company hereby expressly waives demand and presentment for pay- ment, notice of non-payment, protest, notice of protest, notice
of dishonor, notice of acceleration or intent to accelerate, and diligence in taking any action to collect amounts called for
hereunder and shall be directly and primarily liable for the payment of all sums owing and to be owing hereto.

 

7.
The Company agrees to pay all costs and expenses, including reasonable attorneys’ fees and expenses, which may be incurred
by the Holder in collecting any amount due under this Note.

 

8.
If one or more of the following described “Events of Default” shall occur:

 

(a)
The Company shall default in the payment of principal or interest on this Note or any other note issued to the Holder by the Company;
or

 

(b)
Any of the representations or warranties made by the Company herein or in any certificate or financial or other written statements
heretofore or hereafter furnished by or on behalf of the Company in connection with the execution and delivery of this Note, or
the Securities Purchase Agreement under which this note was issued shall be false or misleading in any respect; or

 

(c)
The Company shall fail to perform or observe, in any respect, any covenant, term, provision, condition, agreement or obligation
of the Company under this Note or any other note issued to the Holder; or

 

(d)
The Company shall (1) become insolvent; (2) admit in writing its inability to pay its debts generally as they mature; (3) make
an assignment for the benefit of creditors or commence proceedings for its dissolution; (4) apply for or consent to the appointment
of a trustee, liquidator or receiver for its or for a substantial part of its property or business; (5) file a petition for bankruptcy
relief, consent to the filing of such petition or have filed against it an involuntary petition for bankruptcy relief, all under
federal or state laws as applicable; or

 

(e)
A trustee, liquidator or receiver shall be appointed for the Company or for a substantial part of its property or business without
its consent and shall not be discharged within sixty (60) days after such appointment; or

 

(f)
Any governmental agency or any court of competent jurisdiction at the in- stance of any governmental agency shall assume custody
or control of the whole or any substantial portion of the properties or assets of the Company; or

 

(g)
One or more money judgments, writs or warrants of attachment, or similar process, in excess of fifty thousand dollars ($50,000)
in the aggregate, shall be entered against the Company or any of its properties or other assets and shall remain unpaid, unvacated,
unbonded or unstayed for a period of fifteen (15) days or in any event later than five (5) days prior to the date of any proposed
sale thereunder; or

 

 

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(h)
Defaulted on or breached any term of any other note of similar debt instru- ment into which the Company has entered and failed
to cure such default within the appropriate grace period; or

 

(i)
The Company shall have its Common Stock delisted from an exchange (ex- cluding the OTCQX, OTC Markets, and OTC Pinks as long as
the Company continues to file reports under the Securities Exchange Act of 1934) or, if the Common Stock trades on an ex- change,
then trading in the Common Stock shall be suspended for more than 10 consecutive days or ceases to file its 1934 act reports with
the SEC;

 

(j)
If a majority of the members of the Board of Directors of the Company on the date hereof are no longer serving as members of the
Board;

 

(k)
The Company shall not deliver to the Holder the Common Stock pursuant to paragraph 4 herein without restrictive legend within
3 business days of its receipt of a Notice of Conversion; or

 

(l)
The Company shall not replenish the reserve set forth in Section 12, within 3 business days of the request of the Holder.

 

(m)
The Company shall not be “current” in its filings with the Securities and Exchange Commission; or

 

(n)
The Company shall lose the “bid” price for its stock in a market (including the OTC marketplace or other exchange).

 

Then,
or at any time thereafter, unless cured within 5 days, and in each and every such case, unless such Event of Default shall have
been waived in writing by the Holder (which waiver shall not be deemed to be a waiver of any subsequent default) at the option
of the Holder and in the Holder’s sole discretion, the Holder may consider this Note immediately due and payable, without
present- ment, demand, protest or (further) notice of any kind (other than notice of acceleration), all of which are hereby expressly
waived, anything herein or in any note or other instruments contained to the contrary notwithstanding, and the Holder may immediately,
and without expiration of any period of grace, enforce any and all of the Holder’s rights and remedies provided herein or
any other rights or remedies afforded by law. Upon an Event of Default, interest shall accrue at a default interest rate of 24%
per annum or, if such rate is usurious or not permitted by current law, then at the highest rate of interest permitted by law.
In the event of a breach of Section 8(k) the penalty shall be $250 per day the shares are not issued beginning on the 4th
day after the conversion notice was delivered to the Company. This penalty shall increase to $500 per day beginning on the
10th day. The penalty for a breach of Section 8(n) shall be an increase of the outstanding principal amounts by 20%.
In case of a breach of Section 8(i), the outstanding principal due under this Note shall increase by 50%. If this Note is not
paid at maturity, the outstanding principal due under this Note shall increase by 10%. Further, if a breach of Section 8(m) occurs
or is continuing after the 6 month anniversary of the Note, then the Holder shall be entitled to use the lowest closing bid price
during the delinquency period as a base price for the conversion. For example, if the lowest closing bid price during the delinquency
period is $0.01 per share and the conversion dis- count is 50% the Holder may elect to convert future conversions at $0.005 per
share.

 

 

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If
the Holder shall commence an action or proceeding to enforce any provisions of this Note, in- cluding, without limitation, engaging
an attorney, then if the Holder prevails in such action, the Holder shall be reimbursed by the Company for its attorneys’
fees and other costs and expenses incurred in the investigation, preparation and prosecution of such action or proceeding.

 

Make-Whole
for Failure to Deliver Loss. At the Holder’s election, if the Company fails for any reason to deliver to the Holder the
conversion shares by the by the 3rd business day following the delivery of a Notice of Conversion to the Company and if the Holder
incurs a Failure to Deliver Loss, then at any time the Holder may provide the Company written notice indicating the amounts payable
to the Holder in respect of the Failure to Deliver Loss and the Company must make the Holder whole as follows:

 

Failure
to Deliver Loss = [(Highest VWAP for the 30 days on or after the day of exercise) x (Num- ber of conversion shares)]

 

The
Company must pay the Failure to Deliver Loss by cash payment, and any such cash payment must be made by the third business day
from the time of the Holder’s written notice to the Com- pany.

 

9.
In case any provision of this Note is held by a court of competent jurisdic- tion to be excessive in scope or otherwise invalid
or unenforceable, such provision shall be ad- justed rather than voided, if possible, so that it is enforceable to the maximum
extent possible, and the validity and enforceability of the remaining provisions of this Note will not in any way be affected
or impaired thereby.

 

10.
Neither this Note nor any term hereof may be amended, waived, discharged or terminated other than by a written instrument signed
by the Company and the Holder.

 

11.
The Company represents that it is not a “shell” issuer and has never been a “shell” issuer or that if
it previously has been a “shell” issuer that at least 12 months have passed since the Company has reported form 10
type information indicating it is no longer a “shell issuer”. The Company will instruct its counsel to either (i)
write a Rule 144 or similar opinion to allow for salability of the conversion shares or (ii) accept such opinion from Holder’s
counsel, provided such legal opinion is, in the reasonable determination of Company counsel, factually and legally correct.

 

 

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12.
The Company shall issue irrevocable transfer agent instructions reserving 7,736,000 shares of its Common Stock for conversions
under this Note (the “Share Reserve”). Upon full conversion of this Note, any shares remaining in the Share Reserve
shall be cancelled. The Company shall pay all transfer agent costs associated with issuing and delivering the share certificates
to the Holder, as well as maintaining the Share Reserve. If such amounts are to be paid by the Holder, it may deduct such amounts
from the principal amount being converted. The com- pany should at all times reserve a minimum of four times the amount of shares
required if the note would be fully converted. The Holder may reasonably request increases from time to time to re- serve such
amounts. The Company will instruct its transfer agent to provide the outstanding share information to the Holder in connection
with its conversions.

 

13.
The Company will give the Holder direct notice of any corporate actions, including but not limited to name changes, stock splits,
recapitalizations etc. This notice shall be given to the Holder as soon as possible under law.

 

14.
If it shall be found that any interest or other amount deemed interest due hereunder violates the applicable law governing usury,
the applicable provision shall automatically be revised to equal the maximum rate of interest or other amount deemed interest
permitted under applicable law. The Company covenants (to the extent that it may lawfully do so) that it will not seek to claim
or take advantage of any law that would prohibit or forgive the Company from paying all or a portion of the principal or interest
on this Note.

 

15.
This Note shall be governed by and construed in accordance with the laws of New York applicable to contracts made and wholly to
be performed within the State of New York and shall be binding upon the successors and assigns of each party hereto. The Holder
and the Company hereby mutually waive trial by jury and consent to exclusive jurisdiction and venue in the courts of the State
of New York or in the Federal courts sitting in the county or city of New York. This Agreement may be executed in counterparts,
and the facsimile transmission of an executed counterpart to this Agreement shall be effective as an original.

 

 

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IN
WITNESS WHEREOF, the Company has caused this Note to be duly executed by an officer thereunto duly authorized.

 

Dated:
April 29, 2020

 

	 	TAURIGA
    SCIENCES, INC.
	 	 	 
	 	By:	Seth
    M. Shaw 
	 	 	 
	 	Title:	Chief
    Executive Officer
	 	 	 

 

 

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    	8Exhibit
10.5

 

Note:
May 8, 2020

 

NEITHER
THESE SECURITIES NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE BEEN REGISTERED WITH THE UNITED STATES SECURITIES
AND EXCHANGE COMMISSION IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE 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.

 

THIS
NOTE DOES NOT REQUIRE PHYSICAL SURRENDER OF THE NOTE IN THE EVENT OF A PARTIAL REDEMPTION OR CONVERSION. AS A RESULT, FOLLOWING
ANY REDEMPTION OR CONVERSION OF ANY PORTION OF THIS NOTE, THE OUTSTANDING PRINCIPAL SUM REPRESENTED BY THIS NOTE MAY BE LESS THAN
THE PRINCIPAL SUM AND ACCRUED INTEREST SET FORTH BELOW.

 

5%
FIXED CONVERTIBLE PROMISSORY NOTE

 

OF

 

TAURIGA
SCIENCES, INC.

 

Issuance
Date: May 8, 2020

Total
Face Value of Note: $102,500 Initial Consideration: $50,000

Initial
Original Issue Discount: $1,250

Initial
Principal Sum Due: $51,250

 

THIS
NOTE is a duly authorized Fixed Convertible Promissory Note of Tauriga Sciences, Inc. a corporation duly organized and existing
under the laws of the State of Florida (the “Company”), designated as the Company’s 5% Fixed Convertible
Promissory Note in the principal amount of $102,500 (the “Note”). This Note will become effective only upon
execution by both parties and delivery of the first payment of consideration by the Holder (the “Effective Date”).

 

FOR
VALUE RECEIVED, the Company hereby promises to pay to the order of Tangiers Global, LLC or its registered assigns or successors-in-interest
(the “Holder”) the principal sum of $102,500 (the “Total Face Value of Note”) or
such lesser amount of aggregate Consideration, defined below, plus the applicable OID thereon (as provided herein) drawn by the
Company hereunder and to pay “guaranteed” interest at a rate of 5% of the Principal Sum (as defined below), to the
extent such Principal Sum and “guaranteed” interest and any other interest, fees, liquidated damages and/or items
due to Holder herein have not been repaid or converted into the Company’s common stock (the “Common Stock”),
in accordance with the terms hereof. The sum of $50,000 (the “Initial Consideration”) shall be remitted and
delivered to the Company, and $1,250 (the “Initial Original Issue Discount”) shall be retained by the Holder
through an original issue discount (the “OID”) for due diligence and legal bills related to this transaction.
The OID is set at 2.5% of any Consideration, defined below, paid. The Company covenants that within _________ months of the Effective
Date of the Note, it shall utilize approximately $50,000 of the proceeds in the manner set forth on Schedule 1, attached
hereto (the “Use of Proceeds”), and shall promptly provide evidence thereof to Holder, in sufficient detail
as reasonably requested by Holder.

 

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The
Holder may pay additional consideration (each, a “Consideration”), plus the prorated 2.5% OID (each Consideration
and its respective 2.5% OID, shall together be referred to as a “Tranche”) to the Company in such amounts and
at such dates (each, an “Additional Tranche Date”) as Holder may choose in its sole discretion. The Principal
Sum due to Holder shall be prorated based on the Consideration actually paid by Holder, plus the 2.5% OID, such that the Company
is only required to repay the amount funded and the Company is not required to repay any unfunded portion of this Note. The Maturity
Date is six months from the Effective Date of each payment (the “Maturity Date”) and is the date upon which
the Principal Amount of this Note, as well as any unpaid interest and other fees, shall be due and payable.

 

In
addition to the “guaranteed” interest referenced above, and in the Event of Default pursuant to Section 3.00(a), additional
interest will accrue from the date of the Event of Default at the rate equal to the lower of 15% per annum or the highest rate
permitted by law (the “Default Rate”).

 

This
Note will become effective only upon the execution by both parties, including the execution of Exhibits B, C, D, E, Schedule 1
(collectively, the “Exhibits”), and the Irrevocable Transfer Agent Instructions (the “Date of Execution”)
and delivery of the initial payment of consideration by the Holder (the “Effective Date”). The Company acknowledges
and agrees the Exhibits are material provisions of this Note.

 

For
purposes hereof the following terms shall have the meanings ascribed to them below:

 

“Business
Day” shall mean any day other than a Saturday, Sunday or a day on which commercial banks in the City of New York
are authorized or required by law or executive order to remain closed.

 

“Fixed
Conversion Price” shall be fixed at a price per share equal to $.03.

 

“Principal
Sum” shall refer to the sum of all Tranches funded under the Note.

 

“Principal
Amount” shall refer to the sum of (i) the original principal amount of this Note (including the original issue discount,
prorated if the Note has not been funded in full), (ii) all guaranteed and other accrued but unpaid interest hereunder, (iii)
any fees due hereunder, (iv) liquidated damages, and (v) any default payments owing under the Note, in each case previously paid
or added to the Principal Amount.

 

“Principal
Market” shall refer to the primary exchange on which the Company’s common stock is traded or quoted.

 

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“Trading
Day” shall mean a day on which there is trading or quoting for any security on the Principal Market.

 

“Underlying
Shares” means the shares of common stock into which the Note is convertible (including interest, fees, liquidated
damages and/or principal payments in common stock as set forth herein) in accordance with the terms hereof.

 

The
following terms and conditions shall apply to this Note:

 

Section
1.00 Repayment.

 

(a)
The Company may pay this Note, in whole or in part, in cash or in other good funds, according to the following schedule:

 

	Days
    Since Effective Date	Payment
    Amount
	Under
    90	110%
    of Principal Amount so paid
	91-180	120%
    of Principal Amount so paid

 

(b)
After 180 days from the Effective Date, the Company may not pay this Note, in whole or in part, in cash or in other good funds,
without prior written consent from Holder, which consent may be withheld, delayed, denied, or conditioned in Holder’s sole
and absolute discretion. Whenever any amount expressed to be due by the terms of this Note is due on any day that is not a Business
Day, the same shall instead be due on the next succeeding day that is a Business Day. Upon the occurrence of an Event of Default,
the Company may not pay the Note, in whole or in part, in cash or in other good funds without written consent of the Holder, which
consent may be withheld, delayed, denied, or conditioned in Holder’s sole and absolute discretion. Further, the Company
shall provide the Holder with two weeks’ prior written notice of the Company’s determination to pay any or all of
its obligations hereunder. During such two-week period, the Holder may exercise any or all of its conversion rights hereunder.
In the event that the Holder does not exercise its conversion rights in respect of any or all of such noticed, prospective payment,
the Company shall tender the full amount set forth in such notice (less any amount in respect of which the Holder has exercised
its conversion rights) to the Holder within 2 Business Days following the Holder’s exercise (or notification to the Company
of non-exercise) of the Holder’s conversion rights in respect of the amount set forth in such notice. Any such payment by
the Company in connection with this provision shall be deemed to have been made on the date that the Holder first receives the
above-referenced notice.

 

Section
2.00 Conversion.

 

(a)
Conversion Right. Subject to the terms hereof and restrictions and limitations contained herein, the Holder shall have
the right, at the Holder’s sole option, at any time and from time to time to convert in whole or in part the outstanding
and unpaid Principal Amount under this Note into shares of Common Stock as per the Conversion Price, but not to exceed the Restricted
Ownership Percentage, as defined in Section 2.00(f). The date of any conversion notice (“Conversion Notice”)
hereunder shall be referred to herein as the “Conversion Date”.

 

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(b)
Stock Certificates or DWAC. The Company will deliver to the Holder, or Holder’s authorized designee, no later than
2 Trading Days after the Conversion Date, a certificate or certificates (which certificate(s) shall be free of restrictive legends
and trading restrictions if the shares of Common Stock underlying the portion of the Note being converted are eligible under a
resale exemption pursuant to Rule 144(b)(1)(ii) and Rule 144(d)(1)(ii) of the Securities Act of 1933, as amended) representing
the number of shares of Common Stock being acquired upon the conversion of this Note. In lieu of delivering physical certificates
representing the shares of Common Stock issuable upon conversion of this Note, provided the Company’s transfer agent is
participating in Depository Trust Company’s (“DTC”) Fast Automated Securities Transfer (“FAST”)
program, the Company shall instead use commercially reasonable efforts to cause its transfer agent to electronically transmit
such shares issuable upon conversion to the Holder (or its designee), by crediting the account of the Holder’s (or such
designee’s) broker with DTC through its Deposits and Withdrawal at Custodian (“DWAC”) program (provided
that the same time periods herein as for stock certificates shall apply).

 

(c)
Charges and Expenses. Issuance of Common Stock to Holder, or any of its assignees, upon the conversion of this Note shall
be made without charge to the Holder for any issuance fee, transfer tax, legal opinion and related charges, postage/mailing charge
or any other expense with respect to the issuance of such Common Stock. Company shall pay all transfer agent fees incurred from
the issuance of the Common Stock to Holder, as well as any and all other fees and charges required by the transfer agent as a
condition to effectuate such issuance. Any such fees or charges, as noted in this Section that are paid by the Holder (whether
from the Company’s delays, outright refusal to pay, or otherwise), will be automatically added to the Principal Sum of the
Note and tack back to the Effective Date for purposes of Rule 144.

 

(d)
Delivery Timeline. If the Company fails to deliver to the Holder such certificate or certificates (or shares through the
DWAC program) pursuant to this Section (free of any restrictions on transfer or legends, if eligible) prior to 3 Trading Days
after the Conversion Date, the Company shall pay to the Holder as liquidated damages an amount equal to $2,000 per day, until
such certificate or certificates are delivered. The Company acknowledges that it would be extremely difficult or impracticable
to determine the Holder’s actual damages and costs resulting from a failure to deliver the Common Stock and the inclusion
herein of any such additional amounts are the agreed upon liquidated damages representing a reasonable estimate of those damages
and costs. Such liquidated damages will be automatically added to the Principal Sum of the Note and tack back to the Effective
Date for purposes of Rule 144.

 

(e)
Reservation of Underlying Securities. The Company covenants that it will at all times reserve and keep available for Holder,
out of its authorized and unissued Common Stock solely for the purpose of issuance upon conversion of this Note, free from preemptive
rights or any other actual contingent purchase rights of persons other than the Holder, three times the number of shares
of Common Stock as shall be issuable (taking into account the adjustments under this Section 2.00, but without regard to any ownership
limitations contained herein) upon the conversion of this Note (consisting of the Principal Amount), under the formula in Section
3.00(c) below, to Common Stock (the “Required Reserve”). The Company covenants that all shares of Common Stock
that shall be issuable will, upon issue, be duly authorized, validly issued, fully-paid, non-assessable and freely-tradable (if
eligible). If the amount of shares on reserve in Holder’s name at the Company’s transfer agent for this Note shall
drop below the Required Reserve, the Company will, within 2 Trading Days of notification from Holder, instruct the transfer agent
to increase the number of shares so that the Required Reserve is met. In the event that the Company does not instruct the transfer
agent to increase the number of shares so that the Required Reserve is met, the Holder will be allowed, if applicable, to provide
this instruction as per the terms of the Irrevocable Transfer Agent Instructions attached to this Note. The Company agrees that
the maintenance of the Required Reserve is a material term of this Note and any breach of this Section 2.00(e) will result in
a default of the Note.

 

    	4

    	 

    

 

(g)
Conversion Limitation. The Holder will not submit a conversion to the Company that would result in the Holder beneficially
owning more than 9.99% of the then total outstanding shares of the Company (“Restricted Ownership Percentage”).

 

(h)
Conversion Delays. If the Company fails to deliver shares in accordance with the timeframe stated in Section 2.00(c), the
Holder, at any time prior to selling all of those shares, may rescind any portion, in whole or in part, of that particular conversion
attributable to the unsold shares. The rescinded conversion amount will be returned to the Principal Sum with the rescinded conversion
shares returned to the Company, under the expectation that any returned conversion amounts will tack back to the Effective Date.

 

(i)
Shorting and Hedging. Holder may not engage in any “shorting” or “hedging” transaction(s) in the
Common Stock of the Company prior to conversion.

 

(j)
Conversion Right Unconditional. If the Holder shall provide a Conversion Notice as provided herein, the Company’s
obligations to deliver Common Stock shall be absolute and unconditional, irrespective of any claim of setoff, counterclaim, recoupment,
or alleged breach by the Holder of any obligation to the Company.

 

Section
3.00 Defaults and Remedies.

 

(a)
Events of Default. An “Event of Default” is: (i) a default in payment of any amount due hereunder; (ii)
a default in the timely issuance of underlying shares upon and in accordance with terms of Section 2.00, which default continues
for 2 Trading Days after the Company has failed to issue shares or deliver stock certificates within the 3rd Trading Day following
the Conversion Date; (iii) if the Company does not issue the press release or file the Current Report on Form 8-K, in each case
in accordance with the provisions and the deadlines referenced Section 5.00(j); (iv) failure by the Company for 3 days after notice
has been received by the Company to comply with any material provision of this Note; (v) any representation or warranty of the
Company in this Note that is found to have been incorrect in any material respect when made, including, without limitation, the
Exhibits; (vi) failure of the Company to remain compliant with DTC, thus incurring a “chilled” status with DTC; (vii)
any default of any mortgage, indenture or instrument which may be issued, or by which there may be secured or evidenced any indebtedness,
for money borrowed by the Company or for money borrowed the repayment of which is guaranteed by the Company, whether such indebtedness
or guarantee now exists or shall be created hereafter; (viii) if the Company is subject to any Bankruptcy Event; (ix) any failure
of the Company to satisfy its “filing” obligations under Securities Exchange Act of 1934, as amended (the “1934
Act”) and the rules and guidelines issued by OTC Markets News Service, OTCMarkets.com and their affiliates; (x) failure
of the Company to remain in good standing under the laws of its state of domicile; (xi) any failure of the Company to provide
the Holder with information related to its corporate structure including, but not limited to, the number of authorized and outstanding
shares, public float, etc. within 1 Trading Day of request by Holder; (xii) failure by the Company to maintain the Required Reserve
in accordance with the terms of Section 2.00(3); (xiii) failure of Company’s Common Stock to maintain a closing bid price
in its Principal Market for more than 3 consecutive Trading Days; (xiv) any delisting from a Principal Market for any reason;
(xv) failure by Company to pay any of its transfer agent fees in excess of $2,000 or to maintain a transfer agent of record; (xvi)
failure by Company to notify Holder of a change in transfer agent within 24 hours of such change; (xvii) any trading suspension
imposed by the United States Securities and Exchange Commission (the “SEC”) under Sections 12(j) or 12(k) of
the 1934 Act; (xviii) failure by the Company to meet all requirements necessary to satisfy the availability of Rule 144 to the
Holder or its assigns, including but not limited to the timely fulfillment of its filing requirements as a fully-reporting issuer
registered with the SEC, requirements for XBRL filings, and requirements for disclosure of financial statements on its website;
or (xix) failure of the Company to abide by the Use of Proceeds or failure of the Company to inform the Holder of a change in
the Use of Proceeds.

 

    	5

    	 

    

 

(a)
Remedies. If an Event of Default occurs, the outstanding Principal Amount of this Note owing in respect thereof through
the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the “Mandatory
Default Amount”. The Mandatory Default Amount means 20% of the outstanding Principal Amount of this Note will be automatically
added to the Principal Sum of the Note and tack back to the Effective Date for purposes of Rule 144. Commencing 5 days after the
occurrence of any Event of Default that results in the eventual acceleration of this Note, this Note shall accrue additional interest,
in addition to the Note’s “guaranteed” interest, at a rate equal to the lesser of 15% per annum or the maximum
rate permitted under applicable law. In connection with such acceleration described herein, the Holder need not provide, and the
Issuer hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without
expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it
under applicable law. Such acceleration may be rescinded and annulled by the Holder at any time prior to payment hereunder and
the Holder shall have all rights as a holder of the note until such time, if any, as the Holder receives full payment pursuant
to this Section 3.00(b). No such rescission or annulment shall affect any subsequent event of default or impair any right consequent
thereon. Nothing herein shall limit the Holder’s right to pursue any other remedies available to it at law or in equity
including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Issuer’s failure
to timely deliver certificates representing shares of Common Stock upon conversion of the Note as required pursuant to the terms
hereof.

 

(c)
Variable Conversion Price. If the Note is not retired on or before the Maturity Date, then at any time and from time to
time after the Maturity Date, and subject to the terms hereof and restrictions and limitations contained herein, the Holder shall
have the right, at the Holder’s sole option, to convert in whole or in part the outstanding and unpaid Principal Amount
under this Note into shares of Common Stock at the Variable Conversion Price. The “Variable Conversion Price”
(together with the Fixed Conversion Price, the “Conversion Price”) shall be equal to the lower of: (a)
the Fixed Conversion Price or (b) 70% of the lowest volume weight average price of the Company’s Common Stock during the
15 consecutive Trading Days prior to the date on which Holder elects to convert all or part of the Note. For the purpose of calculating
the Variable Conversion Price only, any time after 4:00 pm Eastern Time (the closing time of the Principal Market) shall be considered
to be the beginning of the next Business Day. If the Company is placed on “chilled” status with the DTC, the discount
shall be increased by 10%, i.e., from 30% to 40%, until such chill is remedied. If the Company is not DWAC eligible
through their transfer agent and DTC’s FAST system, the discount will be increased by 5%, i.e., from 30% to
35%. In the case of both, the discount shall be a cumulative increase of 15%, i.e., from 30% to 45%.

 

    	6

    	 

    

 

Section
4.00 Representations and Warranties of Holder.

 

Holder
hereby represents and warrants to the Company that:

 

(a)
Holder is an “accredited investor,” as such term is defined in Regulation D of the Securities Act of 1933, as amended
(the “1933 Act”), and will acquire this Note and the Underlying Shares (collectively, the “Securities”)
for its own account and not with a view to a sale or distribution thereof as that term is used in Section 2(a)(11) of the 1933
Act, in a manner which would require registration under the 1933 Act or any state securities laws. Holder has such knowledge and
experience in financial and business matters that such Holder is capable of evaluating the merits and risks of the Securities.
Holder can bear the economic risk of the Securities, has knowledge and experience in financial business matters and is capable
of bearing and managing the risk of investment in the Securities. Holder recognizes that the Securities have not been registered
under the 1933 Act, nor under the securities laws of any state and, therefore, cannot be resold unless the resale of the Securities
is registered under the 1933 Act or unless an exemption from registration is available. Holder has carefully considered and has,
to the extent Holder believes such discussion necessary, discussed with its professional, legal, tax and financial advisors, the
suitability of an investment in the Securities for its particular tax and financial situation and its advisers, if such advisors
were deemed necessary, and has determined that the Securities are a suitable investment for it. Holder has not been offered the
Securities by any form of general solicitation or advertising, including, but not limited to, advertisements, articles, notices
or other communications published in any newspaper, magazine, or other similar media or television or radio broadcast or any seminar
or meeting where, to Holders’ knowledge, those individuals that have attended have been invited by any such or similar means
of general solicitation or advertising. Holder has had an opportunity to ask questions of and receive satisfactory answers from
the Company, or any person or persons acting on behalf of the Company, concerning the terms and conditions of the Securities and
the Company, and all such questions have been answered to the full satisfaction of Holder. The Company has not supplied Holder
any information regarding the Securities or an investment in the Securities other than as contained in this Agreement, and Holder
is relying on its own investigation and evaluation of the Company and the Securities and not on any other information.

 

(b)
The Holder is a limited liability company duly organized, validly existing and in good standing under the laws of the state of
its incorporation and has all requisite corporate power and authority to carry on its business as now conducted. The Holder is
duly qualified to transact business and is in good standing in each jurisdiction in which the failure to so qualify would have
a material adverse effect on its business or properties.

 

(c)
All limited liability company action has been taken on the part of the Holder, its officers, directors, managers and members necessary
for the authorization, execution and delivery of this Note. The Holder has taken all limited liability company action required
to make all of the obligations of the Holder reflected in the provisions of this Note, valid and enforceable obligations.

 

(d)
Each certificate or instrument representing Securities will be endorsed with the following legend (or a substantially similar
legend), unless or until registered under the 1933 Act or exempt from registration:

 

    	7

    	 

    

 

THE
SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE
SOLD, TRANSFERRED, ASSIGNED OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT COVERING SUCH SECURITIES,
THE TRANSFER IS MADE IN COMPLIANCE WITH RULE 144 PROMULGATED UNDER SUCH ACT OR THE COMPANY RECEIVES AN OPINION OF COUNSEL FOR
THE HOLDER OF THESE SECURITIES WHICH IS REASONABLY SATISFACTORY TO THE COMPANY, STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR
HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT.

 

Section
5.00 General.

 

(a)
Payment of Expenses. The Company agrees to pay all reasonable charges and expenses, including attorneys’ fees and
expenses, which may be incurred by the Holder in successfully enforcing this Note and/or collecting any amount due under this
Note.

 

(b)
Assignment, Etc. The Holder may assign or transfer this Note to any transferee at its sole discretion. This Note shall
be binding upon the Company and its successors and shall inure to the benefit of the Holder and its successors and permitted assigns.

 

(c)
Amendments. This Note may not be modified or amended, or any of the provisions of this Note waived, except by written agreement
of the Company and the Holder.

 

(d)
Funding Window. The Company agrees that it will not enter into a convertible debt financing transaction, including 3(a)9
and 3(a)10 transactions, with any party other than the Holder for a period of 15 Trading Days following the Effective Date and
each Additional Tranche Date, as relevant. The Company agrees that this is a material term of this Note and any breach of this
Section 5.00(d) will result in a default of the Note.

 

(e)
Piggyback Registration Rights. The Company shall include on the next registration statement that the Company files with
the SEC (or on the subsequent registration statement if such registration statement is withdrawn) all shares issuable upon conversion
of this Note. Failure to do so will result in liquidated damages of 30% of the outstanding Principal Sum of this Note, but not
less than $20,000, being immediately due and payable to the Holder at its election in the form of a cash payment or an addition
to the Principal Sum of this Note.

 

(f)
Terms of Future Financings. So long as this Note is outstanding, upon any issuance by the Company or any of its subsidiaries
of any convertible debt security (whether such debt begins with a convertible feature or such feature is added at a later date)
with any term more favorable to the holder of such security or with a term in favor of the holder of such security that was not
similarly provided to the Holder in this Note, then the Company shall notify the Holder of such additional or more favorable term
and such term, at the Holder’s option, shall become a part of this Note and its supporting documentation.. The types of
terms contained in the other security that may be more favorable to the holder of such security include, but are not limited to,
terms addressing conversion discounts, terms addressing maturity, conversion look back periods, interest rates, original issue
discount percentages and warrant coverage.

 

    	8

    	 

    

 

(g)
Governing Law; Jurisdiction.

 

(i)
Governing Law. This Note will be governed by, and construed and interpreted in accordance with, the laws of the state of California
without regard to any conflicts of laws or provisions thereof that would otherwise require the application of the law of any other
jurisdiction.

 

(ii)
Jurisdiction and Venue. Any dispute, claim, suit, action or other legal proceeding arising out of or relating to this Note
or the rights and obligations of each of the parties shall be brought only in the state courts of California or in the federal
courts of the United States of America located in San Diego County, California.

 

(iii)
No Jury Trial. The Company hereto knowingly and voluntarily waives any and all rights it may have to a trial by jury with
respect to any litigation based on, or arising out of, under, or in connection with, this Note.

 

(iv)
Delivery of Process by the Holder to the Company. In the event of an action or proceeding by the Holder against the Company,
and only by the Holder against the Company, service of copies of summons and/or complaint and/or any other process that may be
served in any such action or proceeding may be made by the Holder via U.S. Mail, overnight delivery service such as FedEx or UPS,
email, fax, or process server, or by mailing or otherwise delivering a copy of such process to the Company at its last known attorney
as set forth in its most recent SEC filing.

 

(v)
Notices. Any notice required or permitted hereunder (including Conversion Notices) must be in writing and either personally
served, sent by facsimile or email transmission, or sent by overnight courier. Notices will be deemed effectively delivered at
the time of transmission if by facsimile or email, and if by overnight courier the business day after such notice is deposited
with the courier service for delivery.

 

(h)
No Bad Actor. No officer or director of the Company would be disqualified under Rule 506(d) of the Securities Act of 1933,
as amended, on the basis of being a “bad actor” as that term is established in the September 13, 2013 Small Entity
Compliance Guide published by the SEC.

 

(i)
Usury. If it shall be found that any interest or other amount deemed interest due hereunder violates any applicable law
governing usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum rate of interest
permitted under applicable law. The Company covenants (to the extent that it may lawfully do so) that it will not seek to claim
or take advantage of any law that would prohibit or forgive the Company from paying all or a portion of the principal, fees, liquidated
damages or interest on this Note.

 

    	9

    	 

    

 

(j)
Securities Laws Disclosure; Publicity. The Company shall (a) by 9:30 a.m. Eastern Time on the Trading Day immediately following
the Date of Execution, issue a press release disclosing the material terms of the transactions contemplated hereby, and (b) file
a Current Report on Form 8-K with the SEC within the time required by the 1934 Act. From and after the filing of such press release
the Company represents to the Holder that it shall have publicly disclosed all material, non-public information delivered to the
Holder by the Company, or any of its officers, directors, employees, or agents in connection with the transactions contemplated
by this Note. The Company and the Holder shall consult with each other in issuing any other press releases with respect to the
transactions contemplated hereby, and neither the Company nor the Holder shall issue any such press release nor otherwise make
any such public statement without the prior consent of the Company, with respect to any press release of the Holder, or without
the prior consent of the Holder, with respect to any press release of the Company, none of which consents shall be unreasonably
withheld, delayed, denied, or conditioned except if such disclosure is required by law, in which case the disclosing party shall
promptly provide the other party with prior notice of such public statement or communication. Notwithstanding the foregoing, the
Company shall not publicly disclose the name of the Holder, or include the name of the Holder in any filing with the SEC or any
regulatory agency or Principal Market, without the prior written consent of the Holder, except to the extent such disclosure is
required by law or Principal Market regulations, in which case the Company shall provide the Holder with prior notice of such
disclosure permitted hereunder.

 

The
Company agrees that this is a material term of this Note and any breach of this Section 5.00(j) will result in a default of the
Note.

 

(k)
Attempted Below-par Issuance. In the event that (i) any requested conversion hereunder shall be at a Conversion Price that
is less than then-current par value of the Company’s Common Stock and that any or all of such requested conversion would
be precluded by state law or otherwise and (ii) within three business days of the requested conversion, the Company shall not
have reduced its par value such that all of the requested conversion may then be accomplished, then the Company and the Holder
agree to the following conversion protocol: the Holder shall generate and transmit to the Company (X) a “preliminary”
Conversion Notice for the full number of shares of Common Stock of the above-referenced conversion at the Conversion Price without
regard to any below-par value conversion issues; (Y) a “par value” Conversion Notice for the number of shares of Common
Stock for the above-referenced conversion with the Conversion Price increased from the Conversion Price set forth in the “preliminary”
Conversion Notice to a Conversion Price at par value; and (Z) a “liquidated damages” Conversion Notice for that number
of shares of Common Stock that represents the difference between the number of shares of Common Stock in the “preliminary”
Conversion Notice and the number of shares of Common Stock in the “par value” Conversion Notice and the Conversion
Price of such “liquidated damages Common Shares” would be the par value of the Common Stock. The Company acknowledges
that any failure by it to provide the Holder with its full conversion rights under this Note (as a result of a proposed “below
par” conversion) will cause the Holder to incur substantial economic damages and losses of types and in amounts that are
impossible to compute and ascertain with certainty as a basis for recovery by the Holder of actual damages and that liquidated
damages would represent a fair, reasonable, and appropriate estimate thereof. Accordingly, in the event that the Holder is precluded
from exercising any or all of its conversion rights hereunder as a result of a proposed “below par” conversion, the
Company agrees that, in lieu of actual damages for such failure, liquidated damages may be assessed and recovered by the Holder
without being required to present any evidence of the amount or character of actual damages sustained by reason thereof. The amount
of such liquidated damages shall be an amount equivalent to the trading price (without discount) utilized in the “preliminary”
Conversion Notice multiplied by the number of shares calculated on the “liquidated damages” Conversion Notice. Such
amount shall be assessed and become immediately due and payable to the Holder (at its election) in the form of a cash payment,
an addition to the Principal Sum of this Note, or the immediate issuance of that number of shares of Common Stock as calculated
on the “liquidated damages” Conversion Notice. Such liquidated damages are intended to represent estimated actual
damages and are not intended to be a penalty, but, by virtue of their genesis and subject to the election of the Holder (as set
forth in the immediately preceding sentence), will be automatically added to the Principal Sum of the Note and tack back to the
Effective Date for purposes of Rule 144.

 

[Signature
Page to Follow.]

 

    	10

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Fixed Convertible Promissory Note to be duly executed on the day and in the year
first above written.

 

	 	TAURIGA
    SCIENCES, INC.
	 	
	 	By:	/s/Seth
    M. Shaw
	 	Name:	Seth
    Shaw
	 	Title:	CEO
	 	Email:	sshaw@tauriga.com
	 		555
                                         Madison Avenue

        5th
        Floor Suite 506

        

	 	Address:	New
        York, NY 10022

 

This
Fixed Convertible Promissory Note of May 8, 2020 is accepted this _________day of ______, 2020 by

 

	TANGIERS
    GLOBAL, LLC	 
	 	 	 
	By:	 	 
	Name:		 
	Title:	Managing Member	 

 

    	11

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