Document:

Exhibit
4.3

 

Form
of Representative’s Warrant Agreement

 

THE
REGISTERED HOLDER OF THIS PURCHASE WARRANT BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE WARRANT
EXCEPT AS HEREIN PROVIDED AND THE REGISTERED HOLDER OF THIS PURCHASE WARRANT AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR
HYPOTHECATE THIS PURCHASE WARRANT FOR A PERIOD OF ONE HUNDRED EIGHTY (180) DAYS FOLLOWING THE DATE OF THE UNDERWRITING AGREEMENT (DEFINED
BELOW) TO ANYONE OTHER THAN (I) EF HUTTON, DIVISION OF BENCHMARK INVESTMENTS, LLC, OR AN UNDERWRITER OR A SELECTED DEALER IN CONNECTION
WITH THE OFFERING, OR (II) A BONA FIDE OFFICER OR PARTNER OF EF HUTTON, DIVISION OF BENCHMARK INVESTMENTS, LLC, OR OF ANY SUCH UNDERWRITER
OR SELECTED DEALER.

 

THIS
PURCHASE WARRANT IS NOT EXERCISABLE PRIOR TO [   ], 20211. VOID AFTER 5:00 P.M., EASTERN TIME, [●]2, 2026.

 

WARRANT
TO PURCHASE COMMON STOCK 

 

PASITHEA
THERAPEUTICS CORP.

 

Warrant
Shares: [   ]

Issuance
Date: [   ]

 

THIS
WARRANT TO PURCHASE COMMON STOCK (the “Warrant”) certifies that, for value received, EF Hutton, division of Benchmark
Investments, LLC or its assigns (the “Holder”) is entitled, upon the terms and subject to the limitations on exercise
and the conditions hereinafter set forth, at any time on or after [ ], 20213 (the “Initial Exercise Date”)
and, in accordance with FINRA Rule 5110(f)(2)(G)(i), prior to at 5:00 p.m. (New York time) on the date (such date, the “Termination
Date”) that is five (5) years following the effective date of the offering, but not thereafter, to subscribe for and purchase
from Pasithea Therapeutics Corp., a Delaware corporation (the “Company”), up to [ ] shares of Common Stock, par value
$0.0001 per share, of the Company (the “Warrant Shares”), as subject to adjustment hereunder. The purchase price of
one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).

 

Section
1. Definitions. In addition to the terms defined elsewhere in this Agreement, the following terms have the meanings indicated
in this Section 1:

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control
with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

 

 

		1	Six
months from effective date.

		2	Five
years following the effective date of the offering.

		3	Six
months from effective date.

 

     

     

    

 

“Business
Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day
on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Rule
144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect
as such Rule.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Trading
Day” means a day on which the principal Trading Market is open for trading.

 

“Trading
Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date
in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, or the New York
Stock Exchange (or any successors to any of the foregoing).

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock then listed or
quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date)
on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30
a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market, the volume weighted
average price of a share of Common Stock for such date (or the nearest preceding date) on the OTCQB or OTCQX as applicable, (c) if Common
Stock is not then listed or quoted for trading on the OTCQB or OTCQX and if prices for Common Stock are then reported in the “Pink
Sheets” published by OTC Markets Group, Inc. (or a similar organization or agency succeeding to its functions of reporting prices),
the most recent bid price per share of Common Stock so reported, or (d) in all other cases, the fair market value of the Common
Stock as determined by an independent appraiser selected in good faith by the Holder and reasonably acceptable to the Company, the fees
and expenses of which shall be paid by the Company.

 

    -2- 

     

    

 

Section
2.  Exercise.

 

a. Exercise
of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Initial Exercise
Date and on or before the Termination Date by delivery to the Company (or such other office or agency of the Company as it may designate
by notice in writing to the registered Holder at the address of the Holder appearing on the books of the Company) of a duly executed
facsimile copy (or e-mail attachment) of the Notice of Exercise Form annexed hereto. Within two (2) Trading Days following the date of
exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the shares specified in the applicable Notice of Exercise
by wire transfer or cashier’s check drawn on a United States bank unless the cashless exercise procedure specified in Section 2(c)
below is specified in the applicable Notice of Exercise. No ink-original Notice of Exercise shall be required, nor shall any medallion
guarantee (or other type of guarantee or notarization) of any Notice of Exercise form be required. Notwithstanding anything herein to
the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all
of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this
Warrant to the Company for cancellation within five (5) Trading Days of the date the final Notice of Exercise is delivered to the Company.
Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall
have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number
of Warrant Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the
date of such purchases. The Company shall deliver any objection to any Notice of Exercise Form within three (3) Business Days of receipt
of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions
of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase
hereunder at any given time may be less than the amount stated on the face hereof.

 

b. Exercise
Price. The exercise price per share of the Common Stock under this Warrant shall be $[   ]4, subject to adjustment
hereunder (the “Exercise Price”).

 

c. Cashless
Exercise. In lieu of exercising this Warrant by delivering the aggregate Exercise Price by wire transfer or cashier’s check,
at the election of the Holder this Warrant may also be exercised, in whole or in part, at such time by means of a “cashless exercise”
in which the Holder shall be entitled to receive the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)]
by (A), where:

 

(A)
= as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of
Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and
delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of “regular trading hours” (as defined in
Rule 600(b)(64) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) the VWAP on the Trading Day
immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is executed during “regular trading
hours” on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of “regular
trading hours” on a Trading Day) pursuant to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise
if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section
2(a) hereof after the close of “regular trading hours” on such Trading Day;

 

(B)
= the Exercise Price of this Warrant, as adjusted hereunder; and

 

(X)
= the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such
exercise were by means of a cash exercise rather than a cashless exercise.

 

 

		4	100%
of public offering price.

 

    -3- 

     

    

 

If
Warrant Shares are issued in such a “cashless exercise,” the parties acknowledge and agree that in accordance with Section
3(a)(9) of the Securities Act, the Warrant Shares shall take on the registered characteristics of the Warrants being exercised, and the
holding period of the Warrants being exercised may be tacked on to the holding period of the Warrant Shares.  The Company agrees
not to take any position contrary to this Section 2(c). 

 

Notwithstanding
anything herein to the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise pursuant
to this Section 2(c).

 

d. Mechanics
of Exercise.

 

i. Delivery
of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted by its transfer
agent to the Holder by crediting the account of the Holder’s or its designee’s balance account with The Depository Trust
Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant in such
system and either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or resale of
the Warrant Shares by Holder, or (B) the Warrant Shares are eligible for resale by the Holder without volume or manner-of-sale limitations
pursuant to Rule 144 and, in either case, the Warrant Shares have been sold by the Holder prior to the Warrant Share Delivery Date (as
defined below), and otherwise by physical delivery of a certificate, registered in the Company’s share register in the name of
the Holder or its designee, for the number of Warrant Shares to which the Holder is entitled pursuant to such exercise to the address
specified by the Holder in the Notice of Exercise by the date that is two (2) Trading Days after the delivery to the Company of
the Notice of Exercise (such date, the “Warrant Share Delivery Date”). If the Warrant Shares can be delivered via
DWAC, the transfer agent shall have received from the Company, at the expense of the Company, any legal opinions or other documentation
required by it to deliver such Warrant Shares without legend (subject to receipt by the Company of reasonable back up documentation from
the Holder, including with respect to affiliate status) and, if applicable and requested by the Company prior to the Warrant Share Delivery
Date, the transfer agent shall have received from the Holder a confirmation of sale of the Warrant Shares (provided the requirement of
the Holder to provide a confirmation as to the sale of Warrant Shares shall not be applicable to the issuance of unlegended Warrant Shares
upon a cashless exercise of this Warrant if the Warrant Shares are then eligible for resale pursuant to Rule 144(b)(1)). The Warrant
Shares shall be deemed to have been issued, and Holder or any other person so designated to be named therein shall be deemed to have
become a holder of record of such shares for all purposes, as of the date the Warrant has been exercised, with payment to the Company
of the Exercise Price (or by cashless exercise, if permitted) and all taxes required to be paid by the Holder, if any, pursuant to Section 2(d)(vi)
prior to the issuance of such shares, having been paid.

 

ii. Delivery
of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder and
upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant evidencing
the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other
respects be identical with this Warrant.

 

iii. Rescission
Rights. If the Company fails to cause its transfer agent to deliver to the Holder the Warrant Shares pursuant to Section 2(d)(i)
by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise; provided, however, that
the Holder shall be required to return any Warrant Shares or Common Stock subject to any such rescinded exercise notice concurrently
with the return to Holder of the aggregate Exercise Price paid to the Company for such Warrant Shares and the restoration of Holder’s
right to acquire such Warrant Shares pursuant to this Warrant (including, issuance of a replacement warrant certificate evidencing such
restored right).

 

    -4- 

     

    

 

iv. [RESERVED].

 

v. No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this
Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall,
at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the
Exercise Price or round up to the next whole share.

 

vi. Charges,
Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or other
incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the Company, and
such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided,
however, that in the event that Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant when
surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and the Company may
require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. The Company
shall pay all transfer agent fees required for same-day processing of any Notice of Exercise and all fees to the Depository Trust Company
(or another established clearing corporation performing similar functions) required for same-day electronic delivery of the Warrant Shares.

 

vii. Closing
of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this Warrant,
pursuant to the terms hereof.

 

viii.
Signature. This Section 2 and the exercise form attached hereto set forth the totality of the procedures required of the Holder
in order to exercise this Purchase Warrant.  Without limiting the preceding sentences, no ink-original exercise form shall be required,
nor shall any medallion guarantee (or other type of guarantee or notarization) of any exercise form be required in order to exercise
this Purchase Warrant.  No additional legal opinion, other information or instructions shall be required of the Holder to exercise
this Purchase Warrant.  The Company shall honor exercises of this Purchase Warrant and shall deliver Shares underlying this Purchase
Warrant in accordance with the terms, conditions and time periods set forth herein.

 

    -5- 

     

    

 

e. Holder’s
Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise
any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after exercise
as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting
as a group together with the Holder or any of the Holder’s Affiliates), would beneficially own in excess of the Beneficial Ownership
Limitation (as defined below).  For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned
by the Holder and its Affiliates shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect
to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise
of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder or any of its Affiliates and (ii) exercise or
conversion of the unexercised or nonconverted portion of any other securities of the Company (including, without limitation, any other
Common Stock Equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially
owned by the Holder or any of its Affiliates.  Except as set forth in the preceding sentence, for purposes of this Section 2(e),
beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated
thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance
with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith.
To the extent that the limitation contained in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in
relation to other securities owned by the Holder together with any Affiliates) and of which portion of this Warrant is exercisable shall
be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination
of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and of which
portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation
to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall
be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes
of this Section 2(e), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding
shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the
case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice by the Company or the Company’s
transfer agent setting forth the number of shares of Common Stock outstanding.  Upon the written or oral request of a Holder, the
Company shall within two Trading Days confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding. 
In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of
securities of the Company, including this Warrant, by the Holder or its Affiliates since the date as of which such number of outstanding
shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be [9.99%] of the number of shares
of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of this
Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section
2(e), provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding
immediately after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions
of this Section 2(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st
day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner
otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof) which may be
defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary
or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder
of this Warrant. 

 

Section
3. Certain Adjustments.

 

a. Stock
Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise makes
a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in shares of
Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon exercise of this
Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including by way of reverse
stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by reclassification of shares of the
Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which
the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding immediately before such event
and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event, and the number of
shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant
shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the record date for
the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the
effective date in the case of a subdivision, combination or re-classification. For the purposes of clarification, the Exercise Price
of this Warrant will not be adjusted in the event that the Company or any subsidiary thereof, as applicable, sells or grants any option
to purchase, or sell or grant any right to reprice, or otherwise dispose of or issue (or announce any offer, sale, grant or any option
to purchase or other disposition) any Common Stock or Common Stock Equivalents, at an effective price per share less than the Exercise
Price then in effect.

 

    -6- 

     

    

 

b. [RESERVED].

 

c. Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues or sells
any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any
class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to acquire, upon the terms
applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number
of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including
without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is taken for the grant, issuance
or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are
to be determined for the grant, issue or sale of such Purchase Rights (provided, however, to the extent that the Holder’s right
to participate in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall
not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result
of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time,
if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

d. Pro
Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend (other than
cash dividends) or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of
return of capital or otherwise (including, without limitation, any distribution of shares or other securities, property or options by
way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”),
at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution
to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock acquirable
upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial
Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the
date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution (provided,
however, to the extent that the Holder’s right to participate in any such Distribution would result in the Holder exceeding the
Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the
beneficial ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution
shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder
exceeding the Beneficial Ownership Limitation). To the extent that this Warrant has not been partially or completely exercised at the
time of such Distribution, such portion of the Distribution shall be held in abeyance for the benefit of the Holder until the Holder
has exercised this Warrant.

 

    -7- 

     

    

 

e. Fundamental
Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related transactions
effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly, effects any
sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one or a series
of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the Company or another
Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange their shares for other securities,
cash or property and has been accepted by the holders of 50% or more of the outstanding Common Stock, (iv) the Company, directly or indirectly,
in one or more related transactions effects any reclassification, reorganization or recapitalization of the Common Stock or any compulsory
share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property,
or (v) the Company, directly or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other
business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another
Person or group of Persons whereby such other Person or group acquires more than 50% of the outstanding shares of Common Stock (not including
any shares of Common Stock held by the other Person or other Persons making or party to, or associated or affiliated with the other Persons
making or party to, such stock or share purchase agreement or other business combination) (each a “Fundamental Transaction”),
then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have
been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without
regard to any limitation in Section 2(e) on the exercise of this Warrant), the number of shares of Common Stock of the successor or acquiring
corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”)
receivable by holders of Common Stock as a result of such Fundamental Transaction for each share of Common Stock for which this Warrant
is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise of
this Warrant). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to
such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in such
Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner
reflecting the relative value of any different components of the Alternate Consideration. If holders of Common Stock are given any choice
as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as
to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction. The Company shall
cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”)
to assume in writing all of the obligations of the Company under this Warrant in accordance with the provisions of this Section 3(e)
pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable
delay) prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this Warrant
a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant which
is exercisable for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the
shares of Common Stock acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of
this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares
of capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction and
the value of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose of protecting
the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory
in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to,
and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this Warrant referring to
the “Company” shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall
assume all of the obligations of the Company under this Warrant with the same effect as if such Successor Entity had been named as the
Company herein.

 

f. Calculations.
All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes
of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the
number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

    -8- 

     

    

 

g. Notice
to Holder.

 

i. Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly
mail to the Holder a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the number of Warrant
Shares and setting forth a brief statement of the facts requiring such adjustment.

 

ii. Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Common
Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Company shall
authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares of capital stock
of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with any reclassification
of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer of all or substantially all of
the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted into other securities, cash or property,
or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company,
then, in each case, the Company shall cause to be mailed a notice to the Holder at its last address as it shall appear upon the Warrant
Register of the Company, at least twenty (20) calendar days prior to the applicable record or effective date hereinafter specified, stating
(x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a
record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions,
redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer
or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock
of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon such
reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to provide such notice or any defect
therein shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice
provided hereunder constitutes, or contains, material, non-public information regarding the Company or any of its subsidiaries, the Company
shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled
to exercise this Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice
except as may otherwise be expressly set forth herein.

 

Section
4.  Transfer of Warrant.

 

a. Transferability.
Pursuant to FINRA Rule 5110(g)(1), neither this Warrant nor any Warrant Shares issued upon exercise of this Warrant shall be sold, transferred,
assigned, pledged, or hypothecated, or be the subject of any hedging, short sale, derivative, put, or call transaction that would result
in the effective economic disposition of the securities by any person for a period of 180 days immediately following the date of effectiveness
or commencement of sales of the offering pursuant to which this Warrant is being issued, except the transfer of any security:

 

i. by
operation of law or by reason of reorganization of the Company;

 

ii.
to any FINRA member firm participating in the offering and the officers or partners thereof, if all securities so transferred remain
subject to the lock-up restriction in this Section 4(a) for the remainder of the time period;

 

iii. if
the aggregate amount of securities of the Company held by the Holder or related person do not exceed 1% of the securities being offered;

 

    -9- 

     

    

 

iv. that
is beneficially owned on a pro-rata basis by all equity owners of an investment fund, provided that no participating member manages or
otherwise directs investments by the fund, and participating members in the aggregate do not own more than 10% of the equity in the fund;
or

 

v. the
exercise or conversion of any security, if all securities received remain subject to the lock-up restriction in this Section 4(a) for
the remainder of the time period.

 

Subject
to the foregoing restriction, any applicable securities laws and the conditions set forth in Section 4(d), this Warrant and all rights
hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender of this Warrant
at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially in the
form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon
the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant
or Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument
of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant
shall promptly be cancelled. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender
this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant
to the Company within three (3) Trading Days of the date the Holder delivers an assignment form to the Company assigning this Warrant
full. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant Shares without
having a new Warrant issued.

 

b. New
Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company,
together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or
its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such division or combination,
the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in
accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the initial issuance date of this Warrant and
shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

c. Warrant
Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant
Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder
of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other
purposes, absent actual notice to the contrary.

 

d. Representation
by the Holder. The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant and, upon any exercise
hereof, will acquire the Warrant Shares issuable upon such exercise, for its own account and not with a view to or for distributing or
reselling such Warrant Shares or any part thereof in violation of the Securities Act or any applicable state securities law, except pursuant
to sales registered or exempted under the Securities Act.

 

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Section
5. Registration Rights.

 

a. Demand
Registration.

 

i.
Grant of Right. The Company, upon written demand (a “Demand Notice”) of the Holder(s) of at least 51% of the Warrants
(“Majority Holders”), agrees to register on Form S-3, on one occasion, all or any portion of the shares of Common Stock underlying
the Warrants (collectively, the “Registrable Securities”). On such occasion, the Company will file a registration statement
with the Commission covering the Registrable Securities within sixty (60) days after receipt of a Demand Notice and use its best efforts
to have the registration statement declared effective promptly thereafter, subject to compliance with review by the Commission; provided,
however, that the Company shall not be required to comply with a Demand Notice if the Company has filed a registration statement with
respect to which the Holder is entitled to piggyback registration rights pursuant to Section 5.b hereof and either: (i) the Holder has
elected to participate in the offering covered by such registration statement or (ii) if such registration statement relates to an underwritten
primary offering of securities of the Company, until the offering covered by such registration statement has been withdrawn or until
thirty (30) days after such offering is consummated. The demand for registration may be made at any time during a period of four (4)
years beginning on the Initial Exercise Date. The Company covenants and agrees to give written notice of its receipt of any Demand Notice
by any Holder(s) to all other registered Holders of the Warrants and/or the Registrable Securities within ten (10) days after the date
of the receipt of any such Demand Notice.

 

ii.
Terms. The Company shall bear all fees and expenses, attendant to the registration of the Registrable Securities pursuant to Section
5.a.i, but the Holders shall pay any and all underwriting commissions and the expenses of any legal counsel selected by the Holders to
represent them in connection with the sale of the Registrable Securities. The Company agrees to use its commercially reasonable efforts
to cause the filing required herein to become effective promptly and to qualify or register the Registrable Securities in such States
as are reasonably requested by the Holder(s); provided, however, that in no event shall the Company be required to register the Registrable
Securities in a State in which such registration would cause: (i) the Company to be obligated to register or license to do business in
such State or submit to general service of process in such State or (ii) the principal shareholders of the Company to be obligated to
escrow their shares of capital stock of the Company. The Company shall cause any registration statement filed pursuant to the demand
right granted under Section 5.a.i to remain effective for a period of at least twelve (12) consecutive months after the date that the
Holders of the Registrable Securities covered by such registration statement are first given the opportunity to sell all of such securities.
The Holders shall only use the prospectuses provided by the Company to sell the shares of Common Stock covered by such registration statement,
and will immediately cease to use any prospectus furnished by the Company if the Company advises the Holder that such prospectus may
no longer be used due to a material misstatement or omission. Notwithstanding the provisions of this Section 5.a.ii, the Holder shall
be entitled to a demand registration under this Section 5.a.ii on only one (1) occasion and such demand registration right shall terminate
on the fifth anniversary of the effective date of the offering in accordance with FINRA Rule 5110(f)(2)(G)(iv).

 

b. “Piggy-Back”
Registration.

 

i. Grant
of Right. The Holder shall have the right, for a period of no more than two (2) years from the Initial Exercise Date in accordance
with FINRA Rule 5110(f)(2)(G)(v), to include the Registrable Securities as part of any other registration of securities filed by the
Company (other than in connection with a transaction contemplated by Rule 145(a) promulgated under the Securities Act or pursuant to
Form S-8 or any equivalent form); provided, however, that if, solely in connection with any primary underwritten public offering for
the account of the Company, the managing underwriter(s) thereof shall, in its reasonable discretion, impose a limitation on the number
of shares of Common Stock which may be included in the Registration Statement because, in such underwriter(s)’ judgment, marketing
or other factors dictate such limitation is necessary to facilitate public distribution, then the Company shall be obligated to include
in such Registration Statement only such limited portion of the Registrable Securities with respect to which the Holder requested inclusion
hereunder as the underwriter shall reasonably permit. Any exclusion of Registrable Securities shall be made pro rata among the Holders
seeking to include Registrable Securities in proportion to the number of Registrable Securities sought to be included by such Holders;
provided, however, that the Company shall not exclude any Registrable Securities unless the Company has first excluded all outstanding
securities, the holders of which are not entitled to inclusion of such securities in such Registration Statement or are not entitled
to pro rata inclusion with the Registrable Securities.

 

    -11- 

     

    

 

ii. Terms.
The Company shall bear all fees and expenses attendant to registering the Registrable Securities pursuant to Section 5.b.i hereof, but
the Holders shall pay any and all underwriting commissions and the expenses of any legal counsel selected by the Holders to represent
them in connection with the sale of the Registrable Securities. In the event of such a proposed registration, the Company shall furnish
the then Holders of outstanding Registrable Securities with not less than thirty (30) days written notice prior to the proposed date
of filing of such registration statement. Such notice to the Holders shall continue to be given for each registration statement filed
by the Company during the two (2) year period following the Initial Exercise Date until such time as all of the Registrable Securities
have been sold by the Holder. The holders of the Registrable Securities shall exercise the “piggy-back” rights provided for
herein by giving written notice within ten (10) days of the receipt of the Company’s notice of its intention to file a registration
statement. Except as otherwise provided in this Warrant, there shall be no limit on the number of times the Holder may request registration
under this Section 5.b.ii; provided, however, that such registration rights shall terminate on the second anniversary of the Initial
Exercise Date.

 

c. General
Terms.

 

i. Indemnification.
The Company shall indemnify the Holder(s) of the Registrable Securities to be sold pursuant to any registration statement hereunder and
each person, if any, who controls such Holders within the meaning of Section 15 of the Securities Act or Section 20(a) of the Exchange
Act against all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses reasonably
incurred in investigating, preparing or defending against any claim whatsoever) to which any of them may become subject under the Securities
Act, the Exchange Act or otherwise, arising from such registration statement but only to the same extent and with the same effect as
the provisions pursuant to which the Company has agreed to indemnify the Underwriters contained in Section 5 of the Underwriting Agreement
(as defined below). The Holder(s) of the Registrable Securities to be sold pursuant to such registration statement, and their successors
and assigns, shall severally, and not jointly, indemnify the Company, against all loss, claim, damage, expense or liability (including
all reasonable attorneys’ fees and other expenses reasonably incurred in investigating, preparing or defending against any claim
whatsoever) to which they may become subject under the Securities Act, the Exchange Act or otherwise, arising from information furnished
by or on behalf of such Holders, or their successors or assigns, in writing, for specific inclusion in such registration statement to
the same extent and with the same effect as the foregoing provisions.

 

ii. Exercise
of Warrants. Nothing contained in this Warrant shall be construed as requiring the Holder(s) to exercise their Warrants prior to
or after the initial filing of any registration statement or the effectiveness thereof.

 

    -12- 

     

    

 

iii. Documents
Delivered to Holders. The Company shall furnish to each Holder participating in any of the foregoing offerings and to each underwriter
of any such offering, if any, a signed counterpart, addressed to such Holder or underwriter, of: (i) an opinion of counsel to the Company,
dated the effective date of such registration statement (and, if such registration includes an underwritten public offering, an opinion
dated the date of the closing under any underwriting agreement related thereto), and (ii) a “cold comfort” letter dated the
effective date of such registration statement (and, if such registration includes an underwritten public offering, a letter dated the
date of the closing under the underwriting agreement) signed by the independent registered public accounting firm which has issued a
report on the Company’s financial statements included in such registration statement, in each case covering substantially the same
matters with respect to such registration statement (and the prospectus included therein) and, in the case of such accountants’
letter, with respect to events subsequent to the date of such financial statements, as are customarily covered in opinions of issuer’s
counsel and in accountants’ letters delivered to underwriters in underwritten public offerings of securities. The Company shall
also deliver promptly to each Holder participating in the offering requesting the correspondence and memoranda described below and to
the managing underwriter, if any, copies of all correspondence between the Commission and the Company, its counsel or auditors and all
memoranda relating to discussions with the Commission or its staff with respect to the registration statement and permit each Holder
and underwriter to do such investigation, upon reasonable advance notice, with respect to information contained in or omitted from the
registration statement as it deems reasonably necessary to comply with applicable securities laws or rules of FINRA. Such investigation
shall include access to books, records and properties and opportunities to discuss the business of the Company with its officers and
independent auditors, all to such reasonable extent and at such reasonable times as any such Holder shall reasonably request.

 

iv. Underwriting
Agreement. The Holders shall be parties to any underwriting agreement relating to an underwritten sale of their Registrable Securities
and may, at their option, require that any or all the representations, warranties and covenants of the Company to or for the benefit
of such underwriters shall also be made to and for the benefit of such Holders. Such Holders shall not be required to make any representations
or warranties to or agreements with the Company or the underwriters except as they may relate to such Holders, their Warrant Shares and
their intended methods of distribution.

 

v. Documents
to be Delivered by Holder(s). Each of the Holder(s) participating in any of the foregoing offerings shall furnish to the Company
a completed and executed questionnaire provided by the Company requesting information customarily sought of selling security holders.

 

vi. Damages.
Should the registration or the effectiveness thereof required by Sections 5.a hereof be delayed by the Company or the Company otherwise
fails to comply with such provisions, the Holder(s) shall, in addition to any other legal or other relief available to the Holder(s),
be entitled to obtain specific performance or other equitable (including injunctive) relief against the threatened breach of such provisions
or the continuation of any such breach, without the necessity of proving actual damages and without the necessity of posting bond or
other security.

 

Section
6. Miscellaneous.

 

a. No
Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividends or other rights as
a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i).

 

b. Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory
to it of the loss, theft, destruction or mutilation of this Warrant or any certificate relating to the Warrant Shares, and in case of
loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include
the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make
and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

 

c. Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted
herein shall not be a Trading Day, then, such action may be taken or such right may be exercised on the next succeeding Trading Day.

 

    -13- 

     

    

 

d. Authorized
Shares. The Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued
Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights
under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who
are charged with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company
will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without
violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common Stock may be listed.
The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented by this Warrant
will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant Shares in accordance herewith, be
duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by the Company in respect
of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue).

 

Except
and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending
its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale
of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant,
but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary
or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality of the
foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise
immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate in order that the Company
may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially
reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof,
as may be, necessary to enable the Company to perform its obligations under this Warrant.

 

Before
taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the
Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from
any public regulatory body or bodies having jurisdiction thereof.

 

e. Jurisdiction.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance
with the provisions of the underwriting agreement, dated [ ], 2021, by and between the Company and EF Hutton, division of Benchmark Investments,
LLC, as representatives of the underwriters set forth therein (the “Underwriting Agreement”).

 

f. Restrictions.
The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, and the Holder does not
utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

 

g. Nonwaiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as
a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other provision of
this Warrant or the Underwriting Agreement, if the Company willfully and knowingly fails to comply with any provision of this Warrant,
which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover
any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred
by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

    -14- 

     

    

 

h. Notices.
Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered
in accordance with the notice provisions of the Underwriting Agreement.

 

i. Limitation
of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant
Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase
price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the
Company.

 

j. Remedies.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific
performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss
incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert the defense in any
action for specific performance that a remedy at law would be adequate.

 

k. Successors
and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the
benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns of Holder.
The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and shall be enforceable
by the Holder or holder of Warrant Shares.

 

l. Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Majority Holders.

 

m. Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law,
but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the
extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.

 

n. Headings.
The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this
Warrant.

 

********************

 

(Signature
Page Follows)

 

    -15- 

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above
indicated.

 

	 	PASITHEA THERAPEUTICS CORP.
	 	 	 
	 	By:	                     
	 	Name: 	 
	 	Title:	 

 

 

-16-Exhibit 10.1

 

Execution Version

 

 

 

 

Dated 4 August 2021

 

 

 

 

 

COLLABORATION AGREEMENT

In relation to a Pasithea clinic
at

Zen Knightsbridge Clinic, 53 Beauchamp
Place, London SW3 1NY

 

 

 

 

 

 

 

 

 

 

 

(1)
PASITHEA THERAPEUTICS LIMITED

 

 

 

and

 

 

 

(2)
PURECARE LTD

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

This agreement is dated 4 August 2021

 

BETWEEN:

 

	(1)	PASITHEA THERAPEUTICS LIMITED incorporated and registered in England and
Wales with company number 12621714 whose registered office is at Scottish Provident House, 1st Floor, 76-80 College Road, Harrow,
England, HA1 1BQ (Pasithea)
	 	 
	(2)	PURECARE LIMITED incorporated and registered in England and Wales 09329216
whose registered office is at 53 Beauchamp Place, London SW3 1NY (Purecare)

 

BACKGROUND:

 

	(A)	Pasithea has developed a branded booking system for patients interested in ketamine
infusion treatment (the Treatments).
	 	 
	(B)	Purecare operates a health clinic at 53 Beauchamp Place, London SW3 1NY known as Zen
Knightsbridge Clinic (the Clinic).
	 	 
	(C)	Pasithea and Purecare have agreed to collaborate on the provision of the Treatments
at the Clinic on the terms of this Agreement.
	 	 
	(D)	This Agreement replaces all prior agreements between the parties with respect to this collaboration.

 

AGREED TERMS:

 

	1.	Interpretation

 

	1.1.	The definitions and rules of interpretation in this clause apply in this Agreement.

 

Agreement means the date at the beginning of this
agreement;

 

Business Day means a day other than a Saturday, Sunday
or bank or other public holiday in England;

 

Clinic means Zen Knightsbridge
Clinic, 53 Beauchamp Place, London SW3 1NY; Commencement Date means the date set out on the first page of this Agreement; CQC
means the Quality Care Commission;

 

Group
Company means in relation to either Party, any of such Party’s Subsidiaries or Holding Companies from time to time, or any Subsidiary
from time to time of any such Holding Company, and Group Companies shall be construed accordingly;

 

     

     

    

 

Intellectual
Property Rights means all rights available for the protection of any discovery, invention, name, design, process or works in which
copyright subsists and all patents, copyrights, registered designs, design rights, trade marks, service marks, trade secrets, other unpublished
information and other forms of protection from time to time subsisting in relation to the same, including the right to apply for any such
protection;

 

Key Employee means any
person who immediately prior to termination of this Agreement worked on the Project and was a management level employee of either Party,
or who was in a position from which he or she had access to confidential information of that Party to a material extent (other than employees
with purely clerical or secretarial roles);

 

LCIA means the London Court of International Arbitration;

 

LCIA Rules means the rules of the LCIA;

 

Party means either Pasithea or Purecare, together
the ‘Parties’;

 

Project means the collaboration between the Parties
described in Clause 2.1;

 

Subsidiary
and Holding Company in relation to a company means, respectively, ’subsidiary’ and ‘holding company’ as defined in section 1159 Companies
Act 2006;

 

Treatments means ketamine
infusion treatments and any other treatments agreed by the parties from time to time; and

 

Website means the website and online booking system
referred to at clause 4.1(c).

 

	1.2.	Clause and paragraph headings shall not affect the interpretation of this Agreement.

 

	1.3.	References to clauses are to the clauses of this Agreement and references to paragraphs
are to paragraphs of the Schedule.

 

	1.4.	A person includes a natural person, corporate or unincorporated body (whether
or not having separate legal personality) and that person’s personal representatives, successors and permitted assigns.

 

	1.5.	A reference to a company shall include any company, corporation or other
body corporate, wherever and however incorporated or established.

 

	1.6.	Unless the context otherwise requires, words in the singular shall include the
plural and in the plural shall include the singular.

 

	1.7.	Unless the context otherwise requires, a reference to one gender shall include a
reference to the other genders.

 

    2

     

    

 

	1.8.	A reference to any party shall include that party’s personal representatives,
successors and permitted assigns.

 

	1.9.	A reference to writing or written includes fax and email.

 

	1.10.	Any obligation on a party not to do something includes an obligation not to allow
that thing to be done.

 

	1.11.	Any words following the terms including, include, in particular,
for example or any similar expression shall be construed as illustrative and shall not limit the sense of the words, description,
definition, phrase or term preceding those terms.

 

	1.12.	Any reference to this Agreement terminating shall, where the context requires,
include a reference to this Agreement terminating by expiry.

 

	2.	Purpose of collaboration

 

	2.1.	The Parties agree to collaborate with each other in relation to the provision of
the Treatments at the Clinic on the terms and conditions set out in this Agreement.

 

	3.	Commencement and duration

 

	3.1.	This Agreement shall commence on the Commencement Date.

 

	3.2.	Unless terminated earlier in accordance with clause 15 (Termination) or this clause 3.2,

 

		(a)	this Agreement shall continue for an initial term of two (2) years (Initial Term)
from the Commencement Date; and

 

		(b)	following the end of the Initial Term, this Agreement shall automatically continue
unless either Party gives the other Party at least three (3) months written notice of termination and provided that such notice of termination
may not be given during the Initial Term.

 

	4.	Pasithea’s obligations

 

	4.1.	Pasithea shall:

 

		(a)	Market the Treatments to the extent permitted by the law;

 

		(b)	Arrange and pay for the fit-out of the consulting room at the Clinic, to a specification
to be agreed between the parties;

 

		(c)	Develop operate and maintain a website for the Treatments to include online booking
and payment for the Treatments (the Website);

 

		(d)	make bookings for and take payment from patients through the Website;

 

    3

     

    

 

		(e)	provide all equipment necessary for the provision of the Treatments; and

 

		(f)	employ or engage customer service advisors and representatives to arrange and make
bookings and to liaise with staff and clinicians employed or engaged by Purecare.

 

	5.	Purecare’s obligations

 

	5.1.	Purecare shall:

 

		(a)	provide consulting and treatment rooms at the Clinic;

 

		(b)	apply for registration (or, if and to the extent Purecare is already registered
with the CQC, vary its registration with the CQC) and maintain such registration for the provision of the Treatments at the Clinic;

 

		(c)	employ or engage suitably licensed and qualified staff, including a psychiatrist and
anaesthetist or such other clinicians as the Parties may agree, for the assessment of patients and provision of Treatments;

 

		(d)	assess patients for their suitability for the Treatments, and if appropriate;

 

		(e)	administer the Treatments to patients at the Clinic;

 

		(f)	maintain the equipment in accordance with requirements of the CQC;

 

		(g)	provide all ketamine for intravenous administration and saline necessary for the
assessment of patients and provision of the Treatments; and

 

		(h)	provide all other pharmaceuticals (other than the ketamine and pharmaceuticals referred
to in clause 5.1(g) above) necessary for the assessment of patients and provision of the Treatments.

 

	5A	Review of this Agreement

 

	5A.1	The
                                            parties agree that their intention is that in the future Pasithea shall operate standalone
                                            Pasithea clinics and, subject to registration with the CQC and obtaining all relevant licences,
                                            provide the Treatments at such clinics. Accordingly, the parties agree to periodically review
                                            this Agreement and to make such amendments to this Agreement including as to apportionment
                                            to reflect the establishment and operation of any future Pasithea clinics.

 

		6.	Apportionment of income

 

	6.1.	All revenue less the amounts referred to in clause 6.4 and which results from the
provision of the Treatments (whether or not the patients were introduced by Pasithea) shall be split in the following proportions:

 

		(a)	Purecare: 70%

 

		(b)	Pasithea: 30%

 

    4

     

    

 

	6.2.	Pasithea shall not be entitled to any proportion of fees paid by patients introduced
by Pasithea for treatments other than the Treatments.

 

	6.3.	Each Party shall bear its own costs of or in connection with the preparation and execution
of this Agreement.

 

	6.4.	Pasithea shall pay to Purecare an amount equal to the cost actually incurred by Purecare
for the engagement of any psychiatrist and anaesthetist referred to in clause 5.1(c) of this Agreement.

 

	7.	Parties’ responsibilities

 

	7.1.	Each party shall in relation to its obligations under this Agreement:

 

		(a)	use reasonable care and skill in performing such obligations;

 

		(b)	comply with good industry practice;

 

		(c)	comply with all laws applicable to it; and

 

		(d)	obtain and maintain consents, licences and permissions (statutory, regulatory, contractual
or otherwise) that are necessary to enable it to comply with such obligations.

 

	7.2.	Each party shall ensure that any employees or agents it uses in performing its obligations
are suitably qualified, licenced and experienced.

 

	7.3.	To enable the parties to maximise the benefits of their collaboration, each party shall:

 

		(a)	engage the other in planning discussions in relation to the Project from time to time;

 

		(b)	keep the other party informed about its own progress in relation to the Project; and

 

		(c)	facilitate regular discussions between appropriate members of its personnel and
those of the other party in relation to each Project, including in relation to:

 

		(i)	performance and issues of concern in relation to each Project;

 

		(ii)	new developments and resource requirements;

 

		(iii)	compliance with deadlines; and

 

		(iv)	such other matters as may be agreed between the parties from time to time.

 

	7.4.	Each party shall:

 

		(a)	supply to the other party information and assistance reasonably requested by it
relating to a Project as is necessary to enable that other party to perform its own obligations in relation to the Project; and

 

		(b)	review documentation, including draft specifications or service descriptions or
other technical documentation, for use when performing its obligations in relation to a Project (if any), as soon as reasonably practicable
at the request of the other party, and notify it of any errors or incorrect assumptions made in any such documents so far as it is aware.

 

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	8.	Invoicing and payment

 

	8.1.	Pasithea shall invoice and take payment from patients for the Treatments in advance
of the Treatments being provided.

 

	8.2.	Purecare shall invoice Pasithea on a monthly basis for the costs referred to in
clause 6.4 of this Agreement.

 

	8.3.	Purecare shall invoice Pasithea on a monthly basis for 70% of their share of revenue
as set out at clause 6.1.

 

	8.4.	A party shall pay an invoice issued to it in accordance with this Agreement within
30 days of the date of receiving the invoice.

 

	8.5.	If a party fails to make a payment due to the other Party under this Agreement
by the due date, then, without limiting the other party’s remedies, the defaulting party shall pay interest on the overdue sum from the
due date until payment of the overdue sum, whether before or after judgment.

 

	8.6.	Interest under this clause will accrue each day at 4% a year above the Bank of England’s
base rate from time to time, but at 4% a year for any period when that base rate is below 0%.

 

	9.	Intellectual property rights

 

	9.1.	Each Party shall for the duration of this Agreement and indefinitely thereafter,
to the exclusion of the other Party:

 

		(a)	remain the owner of all Intellectual Property Rights it owns at the date of this
Agreement in any materials which it has created, including without limitation the Intellectual Property Rights described in Schedule 4;
and

 

		(b)	reserve all of its rights in or to all Intellectual Property Rights at the date
of this Agreement in materials created by a third party who has been commissioned by such Party, including without limitation the Intellectual
Property Rights described in Schedule 4.

 

	9.2.	Subject and without prejudice to Clause 8.1, Pasithea grants to Purecare for the duration
of this Agreement a licence and right to use solely for the purposes of the Project the right to use the name Pasithea in relation to
the Treatments.

 

	9.3.	All Intellectual Property in the Website shall be the property of Pasithea.

 

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	10.	Data protection

 

	10.1.	Each party shall comply with all applicable data protection legislation with respect
to their obligations under or in relation to this Agreement (including the Data Protection Act 2018, UK GDPR (being the General Data Protection
Regulation 2017/679 as retained in UK law following the 1 January 2021)) (Data Protection Laws). In this clause 10, controller,
data subject, personal data breach, processor, processing shall bear the meaning given in the UK GDPR. This clause is in addition to,
and does not relieve, remove or replace, a Party’s obligations or rights under Data Protections Laws.

 

	10.2.	The parties have determined that, for the purposes of Data Protection laws:

 

		(a)	each Party is an independent controller with respect to the operation of this Agreement
and the processing of data of staff and/or suppliers of each Party; and

 

		(b)	Purecare is a controller and Pasithea is a processor with respect to the processing
of patient data.

 

	10.3.	The parties shall keep the determination set out in clause 10.2 and all data processing
under this Agreement under review and agree to make such changes to such Agreement to reflect the data processing that may arising as
a consequence of this Agreement.

 

	10.4.	If and to the extent that either Party acts as a controller, such controller shall
ensure it has a lawful basis and has obtained all necessary consents, if required, and/or provided all notices for such processing and
so as to enable the lawful transfer of the personal data (including sensitive personal data as defined by the Data Protection Act 2018)
of their staff or clients to the other Party (or to third parties to whom that other Party has engaged for the purposes of this Agreement
including sub-processors, where relevant) for the duration of this Agreement.

 

	10.5.	If and to the extent that either Party acts as a processor, such processor shall:
(i) process such personal data only on documented instructions from the controller unless required to do otherwise under Data Protection
Laws or laws of England and Wales, in which case the processor shall inform the controller of that legal requirement unless prohibited
by law; (ii) ensure that persons authorised to process the personal data have committed themselves to or are subject to confidentiality
obligations; (iii) take all appropriate technical and organisational measures required under Article 32 of UK GDPR; (iv) be permitted
to transfer personal data outside of the UK provided that it has provided appropriate safeguards under Data Protection Laws; (v) assists
the controller, at the controller’s costs, in responding to any request from any data subject and in ensuring compliance under the
Data Protection Legislation with respect to security, breach notifications, impact assessments and consultations with any supervisory
authority; (vi) notify the controller without undue delay on becoming aware of a personal data breach; (vii) at the written direction
of the controller, delete or return personal data on termination of this Agreement unless required by UK to store the personal data; and
(viii) make available to the controller all necessary information to demonstrate
compliance with the obligations in Article 28 of the UK GDPR and allow for audits by the controller or the controller’s designated auditor
and immediately inform the controller if, in the opinion of the Provider, an instruction infringes Data Protection Legislation. The controller
consents to the processor appointing a third party processor on the terms substantially similar to those set out in this clause 10.5.

 

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	11.	Confidentiality

 

	11.1.	Each Party will keep confidential any information relating to the other Party that
is provided or otherwise accessed in the course of this Agreement or otherwise in relation to the Project. Neither Party shall disclose
any information of the other Party without the consent of that Party, except in order to comply with law or regulation or the order of
a court of competent jurisdiction or as required in connection with legal proceedings relating to or arising out of this Agreement.

 

	11.2.	Subject to Clause 10.3, the Parties will keep confidential any information about the
Project and neither Party shall disclose any information in relation to the Project without the consent of the other Party.

 

	11.3.	Clause 10.2 shall not prevent the disclosure by either Party of any information:

 

		(a)	relating to the Project which is reasonably disclosed for the furtherance of the
Project, except insofar as that information relates to the other Party, provided that the disclosing party takes all steps that are commercially
practicable to preserve the confidentiality of the information; or

 

		(b)	in order to comply with law or regulation or the order of a court of competent jurisdiction
or as required in connection with legal proceedings relating to or arising out of this Agreement.

 

	11.4.	The Parties’ obligations under this Clause 10 shall continue for the duration of
this Agreement and shall survive termination of this Agreement unless or until the information concerned becomes public knowledge or is
otherwise in the public domain through no fault of the Party bound to keep its confidentiality under this Clause 11.

 

	11.5.	For the avoidance of doubt, the restrictions in this Agreement shall not apply to
any information that was known by or in the possession of either Party prior to the date of this Agreement.

 

	12.	Restrictive covenants

 

	12.1.	Each Party covenants that it will not, save with the prior written consent of the
other Party (to be given or withheld at such other Party’s absolute discretion) for the duration of this Agreement and for 12 months following
the termination of this Agreement solicit or try to solicit the employment or engagement of any Key Employee involved in the Project (whether
or not such person would thereby breach their own contract of employment or engagement).

 

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	12.2.	The covenants in this Clause 12 apply to actions carried out by the Parties in
any capacity and whether directly or indirectly, by or on behalf of that Party, on behalf of any person other than that Party, or jointly
by that Party with any other person.

 

	12.3.	The restrictions in this Clause 12 are considered by the Parties to be reasonable.

 

	12.4.	The provisions of this Clause 12 shall be severable and if any provision is held
by a court of competent jurisdiction to be invalid, void or otherwise unenforceable, the remaining provisions shall remain enforceable
to the fullest extent permitted by law.

 

	13.	Insurance

 

During the
term of this Agreement and for a period of 6 years thereafter, Purecare shall, prior to commencing Treatments, obtain and maintain in
force, with a reputable insurance company, professional indemnity insurance in an amount not less than £5M and shall, on Pasithea’s
request, produce both the insurance certificate giving details of cover and the receipt for the current year’s premium.

 

	14.	Relationship between the parties

 

	14.1.	This Agreement relates only to the purpose set out in Clause 2.

 

	14.2.	No relationship of agency, joint venture or partnership shall exist or be deemed
to exist between the Parties and, except as explicitly provided herein, no Party shall have the authority to bind the other Party without
that other Party’s prior written approval.

 

	15.	Termination

 

	15.1.	Notwithstanding Clause 3, either Party (the ‘Non-Defaulting Party’) may terminate
this Agreement immediately at any time by giving written notice to the other Party in the event that:

 

		(a)	such other Party or any of its employees, officers or agents, commits any serious
or persistent default or breach of any obligation under this Agreement which is either not capable of remedy or which, if capable of remedy,
has not been remedied within 21 days of such default or breach having been notified to such other Party;

 

		(b)	such other Party or any Group Company of such other Party is convicted of a criminal
offence which materially and adversely affects the Project or the business or reputation of the Non-Defaulting Party;

 

		(c)	such other Party has committed any act of fraud or dishonesty;

 

		(d)	such other Party or any Group Company of such other Party has done anything with
the intention of bringing the Non-Defaulting Party or any of its Group Companies into disrepute; or

 

    9

     

    

 

		(e)	such other Party suspends, or threatens to suspend, payment of its debts or is
unable to pay its debts as they fall due or admits inability to pay its debts or (being a company or limited liability partnership) is
deemed unable to pay its debts within the meaning of section 123 of the Insolvency Act 1986 as if the words “it is proved to the
satisfaction of the court” did not appear in sections 123(1)(e) or 123(2) of the Insolvency Act 1986;

 

		(f)	if the other party commences negotiations with all or any class of its creditors
with a view to rescheduling any of its debts, or makes a proposal for or enters into any compromise or arrangement with its creditors
other than (being a company) for the sole purpose of a scheme for a solvent amalgamation of that other party with one or more other companies
or the solvent reconstruction of that other party;

 

		(g)	if a petition is filed, a notice is given, a resolution is passed, or an order
is made, for or in connection with the winding up of that other party (being a company, limited liability partnership or partnership)
other than for the sole purpose of a scheme for a solvent amalgamation of that other party with one or more other companies or the solvent
reconstruction of that other party;

 

		(h)	if an application is made to court, or an order is made, for the appointment of an
administrator, or if a notice of intention to appoint an administrator is given or if an administrator is appointed, over the other party
(being a company);

 

		(i)	if the holder of a qualifying floating charge over the assets of that other party
(being a company) has become entitled to appoint or has appointed an administrative receiver;

 

		(j)	if a person becomes entitled to appoint a receiver over the assets of the other
party or a receiver is appointed over the assets of the other party;

 

		(k)	if any event occurs, or proceeding is taken, with respect to the other party in
any jurisdiction to which it is subject that has an effect equivalent or similar to any of the events mentioned in clause (e)15.1(e) to
clause 15.1(j) (inclusive);

 

		(l)	if the other party suspends or ceases, or threatens to suspend or cease, carrying
on all or a substantial part of its business;

 

		(m)	if there is a change of control of the other party; or

 

		(n)	if Purecare ceases to be lawfully able to provide the Treatments.

 

	15.2.	Termination of this Agreement shall not prejudice or affect the rights of either
Party against the other regarding any breach of this Agreement or in respect of any monies payable by one Party to the other for the period
prior to termination.

 

	15.3.	As soon as reasonably practicable after termination of this Agreement, each Party
shall deliver up to the other Party or destroy all materials provided by the other Party, together with any copies which remain in its
possession, power or control, unless required in order to comply with any law or regulation or the order of a court of competent jurisdiction.

 

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	15.4.	Any termination under this Clause 15 shall be without prejudice to the provisions
of this Agreement which are expressed to have effect notwithstanding that termination, and to any claims under this Agreement which either
Party may have against the other and which subsist immediately prior to that termination.

 

	16.	Notices

 

	16.1.	Any notice or communication to a Party under this Agreement shall be in writing
and shall be delivered either:

 

		(a)	by hand, first class post or courier to the address set out in this Agreement; or

 

		(b)	by email to the email address of such party set out below:

 

		(i)	Pasithea – craig@bonsaicap.com

 

		(ii)	Purecare – yassine@zenhealthcare.co.uk

 

	16.2.	A notice or communication delivered by hand or by courier is deemed to have been received:

 

		(a)	when delivered, if delivered before 6pm on a Business Day; or

 

		(b)	on the first Business Day following delivery, if delivered on or after 6pm on a Business
Day or if delivered on a day which is not a Business Day.

 

	16.3.	A notice or communication sent by first class post is deemed to have been received
on the second Business Day falling after the day on which it is posted.

 

	16.4.	A notice or other communication sent by email is deemed to have been received:

 

		(a)	upon delivery to the recipient’s server, if transmitted before 6pm on a Business
Day without apparent error in the operation of the sender’s email system; or

 

		(b)	on the first Business Day following delivery to the recipient’s server, if transmitted
on or after 6pm on a Business Day or if transmitted on a day which is not a Business Day, in either case without apparent error in the
operation of the sender’s email system.

 

	17.	Dispute Resolution

 

	17.1.	Any dispute relating to this Agreement which cannot be resolved by negotiation between
the Parties within 28 days of either Party having given notice to the other Party that a dispute has arisen shall be submitted to mediation
pursuant to LCIA Rules.

 

	18.	Assignment and other dealings

 

	18.1.	Neither party shall assign, transfer, mortgage, charge, subcontract, declare a
trust over or deal in any other manner with any or all of its rights and obligations under this Agreement without the prior written consent
of the other party.

 

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	19.	Variation

 

	19.1.	No variation of this Agreement shall be effective unless it is in writing and signed
by the parties (or their authorised representatives).

 

	19.2.	Any variation of this Agreement agreed by the parties in accordance with clause
19.1 shall be deemed to apply to all future Project Schedules entered into after the date
of such variation, but shall not apply to Project Schedules already in force at that date unless such variation specifically so provides.

 

	20.	Severance

 

	20.1.	If any provision or part-provision of this Agreement is or becomes invalid, illegal
or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification
is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision
under this clause shall not affect the validity and enforceability of the rest of this Agreement.

 

	20.2.	If one party gives notice to the other of the possibility that any provision or
part-provision of this Agreement is invalid, illegal or unenforceable, the parties shall negotiate in good faith to amend such provision
so that, as amended, it is legal, valid and enforceable, and, to the greatest extent possible, achieves the intended commercial result
of the original provision.

 

	21.	Rights and remedies

 

The rights and remedies provided under
this Agreement are in addition to, and not exclusive of, any rights or remedies provided by law.

 

	22.	Counterparts

 

	22.1.	This Agreement may be executed in any number of counterparts, each of which when
executed shall constitute a duplicate original, but all the counterparts shall together constitute the one agreement.

 

	22.2.	Transmission of the executed signature page of a counterpart of this Agreement by
email (in PDF, JPEG or other agreed format) shall take effect as delivery of an executed counterpart of this aAgreement. If this method
of delivery is adopted, without prejudice to the validity of the Agreement thus made, each party shall provide the others with the original
of such counterpart as soon as reasonably possible thereafter.

 

	22.3.	No counterpart shall be effective until each party has executed at least one counterpart.

 

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	23.	Third party rights

 

	23.1.	This Agreement does not give rise to any rights under the Contracts (Rights of
Third Parties) Act 1999 to enforce any term of this Agreement.

 

	23.2.	The rights of the parties to rescind or vary this Agreement are not subject to the
consent of any other person.

 

	24.	Further assurance

 

Each party
shall, and shall use all reasonable endeavours to procure that any necessary third party shall, promptly execute and deliver such documents
and perform such acts as may reasonably be required for the purpose of giving full effect to this Agreement.

 

	25.	Costs

 

Each party
shall pay its own costs incurred in connection with the negotiation, preparation, and execution of this Agreement.

 

	26.	Entire agreement

 

	26.1.	This Agreement constitutes the entire agreement between the parties and supersedes
and extinguishes all previous drafts, agreements, arrangements and understandings between them, whether written or oral, relating to its
subject matter, including any agreements signed or purported to be executed as to this collaboration prior to the date of this Agreement
in 2020 or 2021.

 

	26.2.	Each party agrees that it shall have no remedies in respect of any representation
or warranty (whether made innocently or negligently) that is not set out in this Agreement. No party shall have any claim for innocent
or negligent misrepresentation based on any statement in this Agreement.

 

	27.	Governing law

 

This Agreement
and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes
or claims) shall be governed by and construed in accordance with the law of England and Wales.

 

	28.	Jurisdiction

 

Each party
irrevocably agrees that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim arising out of
or in connection with this Agreement or its subject matter or formation (including non-contractual disputes or claims).

 

This Agreement has been entered into
on the date stated at the beginning of it.

 

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	Signed for and on behalf of	/s/ Craig Auringer
	Pasithea Therapeutics Limited	Director
	 	 
	Signed for and on behalf of	/s/ Haidar Al-Muaathen
	Purecare Health Limited	Director

 

 

 

14

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