Document:

SUBSCRIPTION
AGREEMENT

 

This
Subscription Agreement (this “Agreement”) is being delivered to the purchaser identified on the signature page
to this Agreement (the “Subscriber”) in connection with its investment in GSRX Industries Inc., formerly Green
Spirit Industries Inc., a Nevada corporation (the “Company”). The Company is conducting a private placement
offering (the “Offering”) of up to One Million Five Hundred Thousand Dollars ($1,500,000) (the “Maximum
Offering”) of units of securities of the Company (each, a “Unit” and collectively, the “Units”),
at a purchase price of $1.25 per Unit (the “Purchase Price”). Each Unit consists of (i) one (1) share of the
Company’s common stock, par value $0.001 per share (the “Shares”), and (ii) warrants to purchase shares
of the Company’s common stock, par value $0.001 per share (the “Warrants”). The number of shares underlying
each Warrant shall be equal to 50% of the number of Shares issued to the Subscriber under this Agreement; provided, however,
that no fractional shares shall be issued. For example, for every two Shares purchased, the Subscriber shall receive one Warrant
to purchase one share of common stock, par value $0.001 per share. Each Warrant shall be exercisable at any time on or after the
date of issuance for a period of two (2) years at an exercise price per share equal to $2.50, subject to adjustment as provided
in the agreement evidencing the Warrants in the form attached hereto as Exhibit A. The shares underlying the Warrants may
hereinafter be referred to as the “Warrant Shares”, and, collectively with the “Units”,
the “Shares” and the “Warrants”, the “Securities”.

 

The
Company’s ticker symbol on the OTCQB Tier of the OTC Markets Group, Inc. is “GSRX.”

 

1.
SUBSCRIPTION AND PURCHASE PRICE

 

(a)
Subscription. Subject to the conditions set forth in Section 2 hereof, the Subscriber hereby subscribes for and agrees
to purchase the number of Securities indicated on the signature page hereof on the terms and conditions described herein.

 

(b)
Purchase of Securities. The Subscriber understands and acknowledges that the purchase price to be remitted to the Company
in exchange for the Securities shall be as set forth in the preamble to this Agreement, for an aggregate purchase price as set
forth on the signature pages hereof (the “Aggregate Purchase Price”). The Subscriber’s delivery of this
Agreement to the Company shall be accompanied by payment for the Securities subscribed for hereunder, payable in United States
Dollars, by wire transfer of immediately available funds delivered contemporaneously with the Subscriber’s delivery of this
Agreement to the Company in accordance with the Escrow Agreement and wire instructions attached hereto as Exhibit B. The
Subscriber understands and agrees that, subject to Section 2 and applicable laws, by executing this Agreement, it is entering
into a binding agreement.

 

2.
Acceptance, Offering Term and Closing Procedures

 

(a)
Acceptance or Rejection. The obligation of the Subscriber to purchase the Securities shall be irrevocable, and the Subscriber
shall be legally bound to purchase the Securities subject to the terms set forth in this Agreement. The Subscriber understands
and agrees that the Company reserves the right to reject this subscription for Securities in whole or part in any order at any
time prior to the Closing for any reason, notwithstanding the Subscriber’s prior receipt of notice of acceptance of the
Subscriber’s subscription. In the event of rejection of this subscription by the Company in accordance with this Section
2, or if the sale of the Securities is not consummated by the Company for any reason or no reason, this Agreement and any other
agreement entered into between the Subscriber and the Company relating to this subscription shall thereafter have no force or
effect, and the Company shall promptly return or cause to be returned to the Subscriber the purchase price remitted to the Company,
without interest thereon or deduction therefrom.

 

    	- 1 -

     

    

 

(b)
Closing. The closing of the purchase and sale of the Securities hereunder (the “Closing”) shall take
place at the offices of Sichenzia Ross Ference Kesner LLP, 1185 Avenue of the Americas, 37th Floor., New York, NY 10036
or such other place as determined by the Company. The Closing shall take place on a Business Day promptly following the satisfaction
of the conditions set forth in Section 6 below, as determined by the Company, but shall be no later than August 17, 2018 at 5:00
p.m. (CST), unless otherwise extended by the Company in its sole discretion without notice to the Subscriber (the “Closing
Date”). “Business Day” shall mean from the hours of 9:00 a.m. (CST) through 5:00 p.m. (CST) of a
day other than a Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or required to be
closed. The Securities purchased by the Subscriber will be delivered by the Company promptly following the Closing.

 

(c)
Following Acceptance or Rejection. The Subscriber acknowledges and agrees that this Agreement and any other documents delivered
in connection herewith will be held by the Company. In the event that this Agreement is not accepted by the Company for whatever
reason, which the Company expressly reserves the right to do, this Agreement, the Aggregate Purchase Price received (without interest
thereon) and any other documents delivered in connection herewith will be returned to the Subscriber at the address of the Subscriber
as set forth in this Agreement. If this Agreement is accepted by the Company, the Company is entitled to treat the Aggregate Purchase
Price received as an interest free loan to the Company until such time as the Subscription is accepted.

 

3.
THE SUBSCRIBER’s Representations, Warranties AND cOVENANTS

 

The
Subscriber hereby acknowledges, agrees with and represents, warrants and covenants to the Company, as follows:

 

(a)
The Subscriber has full power and authority to enter into this Agreement, the execution and delivery of which has been duly authorized,
if applicable, and this Agreement constitutes a valid and legally binding obligation of the Subscriber.

 

(b)
The Subscriber acknowledges its understanding that the Offering and sale of the Securities is intended to be exempt from registration
under the Securities Act of 1933, as amended (the “Securities Act”), by virtue of Section 4(2) of the Securities
Act and the provisions of Regulation D promulgated thereunder (“Regulation D”). In furtherance thereof, the
Subscriber represents and warrants to the Company and its affiliates as follows:

 

(i)
The Subscriber realizes that the basis for the exemption from registration may not be available if, notwithstanding the Subscriber’s
representations contained herein, the Subscriber is merely acquiring the Securities for a fixed or determinable period in the
future, or for a market rise, or for sale if the market does not rise. The Subscriber does not have any such intention.

 

(ii)
The Subscriber realizes that the basis for exemption would not be available if the Offering is part of a plan or scheme to evade
registration provisions of the Securities Act or any applicable state or federal securities laws.

 

(iii)
The Subscriber is acquiring the Securities solely for the Subscriber’s own beneficial account, for investment purposes,
and not with a view towards, or resale in connection with, any distribution of the Securities. If other than an individual, the
Subscriber also represents it has not been organized solely for the purpose of acquiring the Securities.

 

(iv)
The Subscriber has the financial ability to bear the economic risk of the Subscriber’s investment, has adequate means for
providing for its current needs and contingencies, and has no need for liquidity with respect to an investment in the Company.

 

    	- 2 -

     

    

 

(v)
The Subscriber and the Subscriber’s attorney, accountant, purchaser representative and/or tax advisor, if any (collectively,
the “Advisors”) has such knowledge and experience in financial and business matters as to be capable of evaluating
the merits and risks of a prospective investment in the Securities. The Subscriber has not authorized any person or entity to
act as its Purchaser Representative (as that term is defined in Regulation D of the General Rules and Regulations under the Securities
Act) in connection with the Offering.

 

(vi)
The Subscriber (together with its Advisors, if any) has received all documents requested by the Subscriber, if any, has carefully
reviewed them and understands the information contained therein, prior to the execution of this Agreement.

 

(c)
The Subscriber is not relying on the Company or any of its employees, agents, sub-agents or advisors with respect to the legal,
tax, economic and related considerations involved in this investment. The Subscriber has relied on the advice of, or has consulted
with, only its Advisors. Each Advisor, if any, has disclosed to the Subscriber in writing (a copy of which is annexed to this
Agreement) the specific details of any and all past, present or future relationships, actual or contemplated, between the Advisor
and the Company or any affiliate or sub-agent thereof.

 

(d)
The Subscriber has carefully considered the potential risks relating to the Company and a purchase of the Securities, and fully
understands that the Securities are a speculative investment that involves a high degree of risk of loss of the Subscriber’s
entire investment. Among other things, the Subscriber has carefully considered each of the risks described under the heading “Risk
Factors” in the Company’s SEC Filings (as defined in Section 4(f) below), which risk factors are incorporated herein
by reference.

 

(e)
The Subscriber will not sell or otherwise transfer any Securities without registration under the Securities Act or an exemption
therefrom, and fully understands and agrees that the Subscriber must bear the economic risk of its purchase because, among other
reasons, the Securities have not been registered under the Securities Act or under the securities laws of any state and, therefore,
cannot be resold, pledged, assigned or otherwise disposed of unless they are subsequently registered under the Securities Act
and under the applicable securities laws of such states, or an exemption from such registration is available. In particular, the
Subscriber is aware that the Securities are “restricted securities,” as such term is defined in Rule 144 promulgated
under the Securities Act (“Rule 144”), and they may not be sold pursuant to Rule 144 unless all of the conditions
of Rule 144 are met. The Subscriber also understands that the Company is under no obligation to register the Securities on behalf
of the Subscriber or to assist the Subscriber in complying with any exemption from registration under the Securities Act or applicable
state securities laws. The Subscriber understands that any sales or transfers of the Securities are further restricted by state
securities laws and the provisions of this Agreement.

 

(f)
No oral or written representations or warranties have been made, or information furnished, to the Subscriber or its Advisors,
if any, by the Company or any of its officers, employees, agents, sub-agents, affiliates, advisors or subsidiaries in connection
with the Offering, other than any representations of the Company contained herein, and in subscribing for the Securities, the
Subscriber is not relying upon any representations other than those contained herein.

 

(g)
The Subscriber’s overall commitment to investments that are not readily marketable is not disproportionate to the Subscriber’s
net worth, and an investment in the Securities will not cause such overall commitment to become excessive.

 

    	- 3 -

     

    

 

(h)
The Subscriber understands and agrees that the certificates for the Securities shall bear substantially the following legend until
(i) such Securities shall have been registered under the Securities Act and effectively disposed of in accordance with a registration
statement that has been declared effective or (ii) in the opinion of counsel for the Company, such Securities may be sold without
registration under the Securities Act, as well as any applicable “blue sky” or state securities laws:

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS. SUCH SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT PURPOSES AND MAY NOT BE
OFFERED FOR SALE, SOLD, DELIVERED AFTER SALE, TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT FILED BY THE ISSUER WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION COVERING SUCH SECURITIES UNDER THE SECURITIES ACT
OR AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER THAT SUCH REGISTRATION IS NOT REQUIRED.

 

(i)
Neither the SEC nor any state securities commission has approved the Securities or passed upon or endorsed the merits of the Offering.
There is no government or other insurance covering any of the Securities.

 

(j)
The Subscriber and its Advisors, if any, have had a reasonable opportunity to ask questions of and receive answers from a person
or persons acting on behalf of the Company concerning the Offering and the business, financial condition, results of operations
and prospects of the Company, and all such questions have been answered to the full satisfaction of the Subscriber and its Advisors,
if any.

 

(k)
The Subscriber is unaware of, is in no way relying on, and did not become aware of, the Offering through or as a result of, any
form of general solicitation or general advertising, including, without limitation, any article, notice, advertisement or other
communication published in any newspaper, magazine or similar media or broadcast over television or radio, or electronic mail
over the Internet, in connection with the Offering and is not subscribing for Securities and did not become aware of the Offering
through or as a result of any seminar or meeting to which the Subscriber was invited by, or any solicitation of a subscription
by, a person not previously known to the Subscriber in connection with investments in securities generally.

 

(l)
The Subscriber has taken no action that would give rise to any claim by any person for brokerage commissions, finders’ fees
or the like relating to this Agreement or the transactions contemplated hereby.

 

(m)
The Subscriber acknowledges that any estimates or forward-looking statements or projections furnished by the Company to the Subscriber
were prepared by the management of the Company in good faith, but that the attainment of any such projections, estimates or forward-looking
statements cannot be guaranteed by the Company or its management and should not be relied upon.

 

(n)
(For ERISA plans only) The fiduciary of the ERISA plan (the “Plan”) represents that such fiduciary has been
informed of and understands the Company’s investment objectives, policies and strategies, and that the decision to invest
“plan assets” (as such term is defined in ERISA) in the Company is consistent with the provisions of ERISA that require
diversification of plan assets and impose other fiduciary responsibilities. The Subscriber or Plan fiduciary (i) is responsible
for the decision to invest in the Company; (ii) is independent of the Company and any of its affiliates; (iii) is qualified to
make such investment decision; and (iv) in making such decision, the Subscriber or Plan fiduciary has not relied primarily on
any advice or recommendation of the Company or any of its affiliates.

 

    	- 4 -

     

    

 

(o)
This Agreement is not enforceable by the Subscriber unless it has been accepted by the Company, and the Subscriber acknowledges
and agrees that the Company reserves the right to reject any subscription for any reason.

 

(p)
The Subscriber will indemnify and hold harmless the Company and, where applicable, its directors, officers, employees, agents,
advisors, affiliates and shareholders, and each other person, if any, who controls any of the foregoing from and against any and
all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all fees, costs and expenses
whatsoever reasonably incurred in investigating, preparing or defending against any claim, lawsuit, administrative proceeding
or investigation whether commenced or threatened) (a “Loss”) arising out of or based upon any representation
or warranty of the Subscriber contained herein or in any document furnished by the Subscriber to the Company in connection herewith
being untrue in any material respect or any breach or failure by the Subscriber to comply with any covenant or agreement made
by the Subscriber herein or therein; provided, however, that the Subscriber shall not be liable for any Loss that
in the aggregate exceeds the Subscriber’s Aggregate Purchase Price tendered hereunder.

 

(q)
The Subscriber is, and on each date on which the Subscriber continues to own restricted securities from the Offering will be,
an “Accredited Investor” as defined in Rule 501(a) under the Securities Act. In general, an “Accredited Investor”
is deemed to be an institution with assets in excess of $5,000,000 or individuals with a net worth in excess of $1,000,000 (excluding
the value of their primary residence) or annual income exceeding $200,000 or $300,000 jointly with his or her spouse.

 

(r)
The Subscriber has reviewed, or had an opportunity to review, all of the SEC Filings.

 

(s)
The Subscriber acknowledges receipt and careful review of all documents furnished in connection with this transaction by the Company
(collectively, the “Offering Documents”) and has been furnished by the Company during the course of this transaction
with all information regarding the Company which the Subscriber has requested or desires to know; and the Subscriber has been
afforded the opportunity to ask questions of and receive answers from duly authorized officers or other representatives of the
Company concerning the terms and conditions of the Offering, and any additional information which the Subscriber has requested.

 

(t)
The Subscriber acknowledges that if the Subscriber is a Registered Representative of a Financial Industry Regulatory Authority,
Inc. (“FINRA”) member firm, the Subscriber must give such firm the notice required by the FINRA’s Conduct Rules,
receipt of which must be acknowledged by such firm on the signature page hereof.

 

(u)
The Subscriber hereby acknowledges that neither the Company nor any persons associated with the Company who may provide assistance
or advice in connection with the Offering (other than the placement agent, if one is engaged by the Company) are or are expected
to be members or associated persons of members of the FINRA or registered broker-dealers under any federal or state securities
laws. This Offering is made directly by the Company.

 

(v)
The Subscriber hereby represents that, except as expressly set forth in the Offering Documents, no representations or warranties
have been made to the Subscriber by the Company or any agent, employee or affiliate of the Company and, in entering into this
transaction, the Subscriber is not relying on any information other than that contained in the Offering Documents and the results
of independent investigation by the Subscriber.

 

(w)
All information provided by the Subscriber in the Investor Questionnaire attached hereto is true and accurate in all respects,
and the Subscriber acknowledges that the Company will be relying on such information to its possible detriment in deciding whether
the Company can sell these securities to the Subscriber without giving rise to the loss of the exemption from registration under
applicable securities laws.

 

    	- 5 -

     

    

 

4.
The Company’s Representations, Warranties and Covenants

 

The
Company hereby acknowledges, agrees with and represents, warrants and covenants to the Subscriber, as follows:

 

(a)
The Company has the corporate power and authority to execute and deliver this Agreement and to perform its obligations hereunder.
This Agreement has been duly authorized, executed and delivered by the Company and is valid, binding and enforceable against the
Company in accordance with its terms.

 

(b)
The authorized and outstanding capital stock of the Company is set forth in the Company’s SEC filings, and except as set
forth therein, there are no options, warrants, or rights to subscribe to, securities, rights, understandings or obligations convertible
into or exchangeable for or giving any right to subscribe for any shares of capital stock or other equity interest of the Company
or any of the Subsidiaries.

 

(c)
The only officer, director, employee and consultant stock option or stock incentive plan or similar plan currently in effect or
contemplated by the Company is described in the Company’s SEC filings.

 

(d)
The Securities to be issued to the Subscriber pursuant to this Agreement, when issued and delivered in accordance with the terms
of this Agreement, will be duly and validly issued and will be fully paid and non-assessable.

 

(e)
Neither the execution and delivery nor the performance of this Agreement by the Company will conflict with the Company’s
organizational materials, as amended to date, or result in a breach of any terms or provisions of, or constitute a default under,
any material contract, agreement or instrument to which the Company is a party or by which the Company is bound.

 

(f)
The Company is subject to, and in full compliance with, the reporting requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”). The Company has made available to each Subscriber through the
EDGAR system, which is available on www.sec.gov, true and complete copies of each of the Company’s Quarterly Reports on
Form 10-Q, Annual Reports on Form 10-K and Current Reports on Form 8-K (collectively, the “SEC Filings”), and
all such SEC Filings are incorporated herein by reference. The SEC Filings, when they were filed with the SEC (or, if any amendment
with respect to any such document was filed, when such amendment was filed), complied in all material respects with the applicable
requirements of the Exchange Act and the rules and regulations thereunder and did not, as of such date, contain an untrue statement
of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading. All reports and statements required to
be filed by the Company under the Securities Act and the Exchange Act have been filed, together with all exhibits required to
be filed therewith. The Company and each of its direct and indirect subsidiaries, if any (collectively, the “Subsidiaries”),
are engaged in all material respects only in the business described in the SEC Filings, and the SEC Filings contain a complete
and accurate description in all material respects of the business of the Company and the Subsidiaries.

 

(g)
The Company acknowledges and agrees that the Subscriber is acting solely in the capacity of an arm’s length purchaser with
respect to the Securities and the transactions contemplated hereby. The Company further acknowledges that the Subscriber is not
acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to this Agreement and the
transactions contemplated hereby and any advice given by the Subscriber or any of its representatives or agents in connection
with this Agreement and the transactions contemplated hereby is merely incidental to the Subscriber’s purchase of the Securities.
The Company further represents to the Subscriber that the Company’s decision to enter into this Agreement has been based
solely on the independent evaluation of the transactions contemplated hereby by the Company and its representatives.

 

    	- 6 -

     

    

 

(h)
The Company will indemnify and hold harmless the Subscriber and, where applicable, its directors, officers, employees, agents,
advisors and shareholders, from and against any and all Loss arising out of or based upon any representation or warranty of the
Company contained herein or in any document furnished by the Company to the Subscriber in connection herewith being untrue in
any material respect or any breach or failure by the Company to comply with any covenant or agreement made by the Company to the
Subscriber in connection therewith; provided, however, that the Company’s liability shall not exceed the Subscriber’s
Aggregate Purchase Price tendered hereunder.

 

5.
Use of Proceeds

 

The
Company anticipates using the gross proceeds from the Offering for general corporate purposes including growth initiatives and
capital expenditures.

 

6.
CONDITIONS TO ACCEPTANCE OF SUBSCRIPTION

 

The
Company’s right to accept the subscription of the Subscriber is conditioned upon satisfaction of the following conditions
precedent on or before the date the Company accepts such subscription:

 

(a)
As of the Closing, no legal action, suit or proceeding shall be pending that seeks to restrain or prohibit the transactions contemplated
by this Agreement.

 

(b)
The representations and warranties of the Subscriber contained in this Agreement shall have been true and correct in all material
respects on the date of this Agreement and shall be true and correct as of the Closing as if made on the Closing Date.

 

7.
MISCELLANEOUS PROVISIONS

 

(a)
All parties hereto have been represented by counsel, and no inference shall be drawn in favor of or against any party by virtue
of the fact that such party’s counsel was or was not the principal draftsman of this Agreement.

 

(b)
Each of the parties hereto shall be responsible to pay the costs and expenses of its own legal counsel in connection with the
preparation and review of this Agreement and related documentation.

 

(c)
Neither this Agreement, nor any provisions hereof, shall be waived, modified, discharged or terminated except by an instrument
in writing signed by the party against whom any waiver, modification, discharge or termination is sought.

 

(d)
The representations, warranties and agreement of the Subscriber and the Company made in this Agreement shall survive the execution
and delivery of this Agreement and the delivery of the Securities.

 

(e)
Any party may send any notice, request, demand, claim or other communication hereunder to the Subscriber at the address set forth
on the signature page of this Agreement or to the Company at its primary office (including personal delivery, expedited courier,
messenger service, fax, ordinary mail or electronic mail), but no such notice, request, demand, claim or other communication will
be deemed to have been duly given unless and until it actually is received by the intended recipient. Any party may change the
address to which notices, requests, demands, claims and other communications hereunder are to be delivered by giving the other
parties written notice in the manner herein set forth.

 

    	- 7 -

     

    

 

(f)
Except as otherwise provided herein, this Agreement shall be binding upon, and inure to the benefit of, the parties to this Agreement
and their heirs, executors, administrators, successors, legal representatives and assigns. If the Subscriber is more than one
person or entity, the obligation of the Subscriber shall be joint and several and the agreements, representations, warranties
and acknowledgments contained herein shall be deemed to be made by, and be binding upon, each such person or entity and its heirs,
executors, administrators, successors, legal representatives and assigns. This Agreement sets forth the entire agreement and understanding
between the parties as to the subject matter hereof and merges and supersedes all prior discussions, agreements and understandings
of any and every nature among them.

 

(g)
This Agreement is not transferable or assignable by the Subscriber.

 

(h)
This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without giving effect
to conflicts of law principles.

 

(i)
The Company and the Subscriber hereby agree that any dispute that may arise between them arising out of or in connection with
this Agreement shall be adjudicated before a court located in the City of New York, Borough of Manhattan, and they hereby submit
to the exclusive jurisdiction of the federal and state courts of the State of New York located in the City of New York, Borough
of Manhattan with respect to any action or legal proceeding commenced by any party, and irrevocably waive any objection they now
or hereafter may have respecting the venue of any such action or proceeding brought in such a court or respecting the fact that
such court is an inconvenient forum, relating to or arising out of this Agreement or any acts or omissions relating to the sale
of the Securities hereunder, and consent to the service of process in any such action or legal proceeding by means of registered
or certified mail, return receipt requested, postage prepaid, in care of the address set forth herein or such other address as
either party shall furnish in writing to the other.

 

(j)
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument.

 

[Signature
Pages Follow]

 

    	- 8 -

     

    

 

ACCEPTED
this ___ day of August 2018, on behalf of GSRX Industries Inc.

 

	 	By:	 
	 	Name:
    	 
	 	Title:
    	 

 

    	- 9 -

     

    

 

ALL
SUBSCRIBERS MUST COMPLETE THIS PAGE

 

IN
WITNESS WHEREOF, the Subscriber has executed this Agreement on the ____ day of August 2018.

 

	 	x
    $1.25 =	 
	Units
    subscribed for	 	Aggregate
    Purchase Price
	 	 	 
	#
    of Shares to be issued	 	 
	 	 	 
	#
    of Warrants (50% coverage)	 	 

 

Manner
in which Title is to be held (Please Check One):

 

	1.	[   ]	Individual	7.	[   ]	Trust/Estate/Pension
        or Profit sharing Plan

        Date
        Opened:______________

	2.	[   ]	Joint
    Tenants with Right of Survivorship	8.	[   ]	As
        a Custodian for

        ____________________________________

        Under
        the Uniform Gift to Minors Act of the State of

        ____________________________________

	3.	[   ]	Community
    Property	9.	[   ]	Married
    with Separate Property
	4.	[   ]	Tenants
    in Common	10.	[   ]	Keogh
	5.	[   ]	Corporation/Partnership/
    Limited Liability Company	11.	[   ]	Tenants
    by the Entirety
	6.	[   ]	IRA	 	 	 

 

ALTERNATIVE
DISTRIBUTION INFORMATION

 

To
direct distribution to a party other than the registered owner, complete the information below. YOU MUST COMPLETE THIS SECTION
IF THIS IS AN IRA INVESTMENT.

 

Name
of Firm (Bank, Brokerage, Custodian):

 

Account
Name:

 

Account
Number:

 

Representative
Name:

 

Representative
Phone Number:

 

Address:

 

City,
State, Zip:

 

    	- 10 -

     

    

 

IF
MORE THAN ONE SUBSCRIBER, EACH SUBSCRIBER MUST SIGN.

INDIVIDUAL SUBSCRIBERS MUST COMPLETE THIS PAGE 10.

SUBSCRIBERS WHICH ARE ENTITIES MUST COMPLETE PAGE 11.

 

EXECUTION
BY NATURAL PERSONS

 

	 	 	 
	 	Exact
    Name in Which Title is to be Held	 

 

	 	 	 
	Name
    (Please Print)	 	Name
    of Additional Purchaser
	 	 	 
	 	 	 
	Residence:
    Number and Street	 	Address
    of Additional Purchaser
	 	 	 
	 	 	 
	City,
    State and Zip Code	 	City,
    State and Zip Code
	 	 	 
	 	 	 
	Social
    Security Number	 	Social
    Security Number
	 	 	 
	 	 	 
	Telephone
    Number	 	Telephone
    Number
	 	 	 
	 	 	 
	Fax
    Number (if available)	 	Fax
    Number (if available)
	 	 	 
	 	 	 
	E-Mail
    (if available)	 	E-Mail
    (if available)
	 	 	 
	 	 	 
	(Signature)	 	(Signature
    of Additional Purchaser)

 

    	- 11 -

     

    

 

EXECUTION
BY SUBSCRIBER WHICH IS AN ENTITY

(Corporation,
Partnership, LLC, Trust, Etc.)

 

	 	 	 
	 	Name
    of Entity (Please Print)	 

 

	Date
    of Incorporation or Organization:	 
	 	 
	State
    of Principal Office:	 
	 	 
	Federal
    Taxpayer Identification Number:	 
	 	 
	 	 
	Office
    Address	 
	 	 
	 	 
	City,
    State and Zip Code	 
	 	 
	 	 
	Telephone
    Number	 
	 	 
	 	 
	Fax
    Number (if available)	 
	 	 
	 	 
	E-Mail
    (if available)	 

 

	 	 	 	By:
    	 
	 	 	 	Name:	 	 
	 	 	 	Title:	 	 
	[seal]	 	 	 	 	 
	 	 	 	 	 	 
	Attest:	            	 	 	 
	(If Entity is a Corporation)	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	Address	 

 

    	- 12 -

     

    

 

INVESTOR
QUESTIONNAIRE

 

Instructions:
Check all boxes below which correctly describe you.

 

	[  ]	You
    are (i) a bank, as defined in Section 3(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”),
    (ii) a savings and loan association or other institution, as defined in Section 3(a)(5)(A) of the Securities Act, whether
    acting in an individual or fiduciary capacity, (iii) a broker or dealer registered pursuant to Section 15 of the Securities
    Exchange Act of 1934, as amended (the “Exchange Act”), (iv) an insurance company as defined in Section
    2(13) of the Securities Act, (v) an investment company registered under the Investment Company Act of 1940, as amended
    (the “Investment Company Act”), (vi) a business development company as defined in Section 2(a)(48)
    of the Investment Company Act, (vii) a Small Business Investment Company licensed by the U.S. Small Business Administration
    under Section 301 (c) or (d) of the Small Business Investment Act of 1958, as amended, (viii) a plan established and
    maintained by a state, its political subdivisions, or an agency or instrumentality of a state or its political subdivisions,
    for the benefit of its employees and you have total assets in excess of $5,000,000, or (ix) an employee benefit plan
    within the meaning of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and (1)
    the decision that you shall subscribe for and purchase Securities, is made by a plan fiduciary, as defined in Section 3(21)
    of ERISA, which is either a bank, savings and loan association, insurance company, or registered investment adviser, or (2)
    you have total assets in excess of $5,000,000 and the decision that you shall subscribe for and purchase the Securities is
    made solely by persons or entities that are accredited investors, as defined in Rule 501 of Regulation D promulgated under
    the Securities Act (“Regulation D”) or (3) you are a self-directed plan and the decision that you shall
    subscribe for and purchase the Securities is made solely by persons or entities that are accredited investors.
	 	 
	[  ]	You
    are a private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940, as amended.
	 	 
	[  ]	You
    are an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”),
    a corporation, Massachusetts or similar business trust or a partnership, in each case not formed for the specific purpose
    of making an investment in the Securities and its underlying securities in excess of $5,000,000.
	 	 
	[  ]	You
    are a director or executive officer of the Company.
	 	 
	[  ]	You
    are a natural person whose individual net worth, or joint net worth with your spouse, exceeds $1,000,000 at the time of your
    subscription for and purchase of the Securities (excluding principal residence).
	 	 
	[  ]	You
    are a natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income
    with your spouse in excess of $300,000 in each of the two most recent years, and who has a reasonable expectation of reaching
    the same income level in the current year.
	 	 
	[  ]	You
    are a trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Securities and
    whose subscription for and purchase of the Securities is directed by a sophisticated person as described in Rule 506(b)(2)(ii)
    of Regulation D.
	 	 
	[  ]	You
    are an entity in which all of the equity owners are persons or entities described in one of the preceding paragraphs.

 

    	- 13 -

     

    

 

Check
all boxes below which correctly describe you.

 

With
respect to this investment in the Securities, your:

 

	 	Investment
    Objectives: 	[  ]
    Aggressive Growth 	[  ]
    Speculation

 

	 	Risk
    Tolerance: 	[  ]
    Low Risk 	[  ]
    Moderate Risk 	[  ]
    High Risk

 

Are
you associated with a FINRA Member Firm? [  ] Yes [  ] No

 

Your
initials (purchaser and co-purchaser, if applicable) are required for each item below:

 

	____
    ____ 	I/We
    understand that this investment is not guaranteed.
	 	 
	____
    ____ 	I/We
    are aware that this investment is not liquid.
	 	 
	____
    ____ 	I/We
    are sophisticated in financial and business affairs and are able to evaluate the risks and merits of an investment in this
    offering.
	 	 
	____
    ____ 	I/We
    confirm that this investment is considered “high risk.” (This type of investment is considered high risk due to
    the inherent risks including lack of liquidity and lack of diversification. Success or failure of private placements such
    as this is dependent on the corporate issuer of these securities and is outside the control of the investors. While potential
    loss is limited to the amount invested, such loss is possible.)

 

FINRA
Affiliation

 

Are
you affiliated directly or indirectly with a member broker-dealer firm of the Financial Industry Regulatory Authority, Inc. as
an employee, officer, director, partner or shareholder or as a relative or member of the same household of an employee, director,
partner or shareholder of a FINRA member broker-dealer firm?

 

Yes
[   ] No [   ]

 

If
the answer is “yes,” then, in order to purchase securities in the offering, the Subscriber will need to provide the
Issuer with a FINRA member affiliate certification whereby the FINRA member firm acknowledges the affiliation and its receipt
of the notice required by Article 3, Sections 28(a) and (b) of the Rules of Fair Practice with respect to an investment in Securities
pursuant to the offering described herein.

 

Anti-Money
Laundering Rules

 

In
order for the Company to comply with applicable anti-money laundering/U.S. Treasury Department Office of Foreign Assets Control
(“OFAC”) rules and regulations, Subscriber is required to provide the following information:

 

    	- 14 -

     

    

 

(a) Payment Information

 

(i)
Name and address (including country) of the bank from which Subscriber’s payment to the Company is being wired (the “Wiring
Bank”):

 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

(ii)
Subscriber’s wiring instructions at the Wiring Bank:

 

	 	 
	 	 
	 	 
	 	 
	 	 

 

(iii)
Is the Wiring Bank located in the U.S. or another “FATF Country”*?

 

[   ]
Yes [   ] No

 

(iv)
Is Subscriber a customer of the Wiring Bank?

 

[   ]Yes
[   ] No

 

(b)
Additional Information

 

Investors
wishing to subscribe must provide the following additional information or documents unless you have previously delivered such
information to the Company or to a Placement Agent for the Offering as part of the establishment of your account at the Placement
Agent.

 

For
Individual Investors:

 

	____
    	A
    government issued form of picture identification (e.g., passport or drivers license).
	 	 
	____
    	Proof
    of the individual’s current address (e.g., current utility bill), if not included in the form of picture identification.
	 	 
	____
    	One
    or more of the above documentations has previously provided to Placement Agent.

 

For
Funds of Funds or Entities that Invest on Behalf of Third Parties:

 

	_____
    	A
    certificate of due formation and organization and continued authorization to conduct business in the jurisdiction of its organization
    (e.g., certificate of good standing).
	 	 
	_____	An
    “incumbency certificate” attesting to the title of the individual executing these subscription materials on behalf
    of the prospective investor.
	 	 
	_____	A
    completed copy of a certification that the entity has adequate anti-money laundering policies and procedures (“AML Policies
    and Procedures”) in place that are consistent with the USA PATRIOT Act, OFAC and other relevant federal, state or non-U.S.
    anti-money laundering laws and regulations (with a copy of the entity’s current AML Policies and Procedures to which
    such certification relates).

 

 

*
As of the date hereof, countries that are members of the Financial Action Task Force on Money Laundering (“FATF
Country”) are: Argentina, Australia, Austria, Belgium, Brazil, Canada, Denmark, Finland, France, Germany, Greece, Hong
Kong, Iceland, Ireland, Italy, Japan, Luxembourg, Mexico, Kingdom of the Netherlands, New Zealand, Norway, Portugal, Russian Federation,
Singapore, South Africa, Spain, Sweden, Switzerland, Turkey, United Kingdom and the United States of America.

 

    	- 15 -

     

    

 

	_____	A
    letter of reference for any entity not located in the U.S. or other FATF country, from the entity’s local office of
    a reputable bank or brokerage firm that is incorporated, or has its principal place of business located, in the U.S. or other
    FATF Country certifying that the prospective investor maintains an account at such bank/brokerage firm for a length of time
    and containing a statement affirming the prospective investor’s integrity. 
	 	 
	____
    	One
    or more of the above documentations has previously provided to Placement Agent.

 

For
all other Entity Investors:

 

	_____	A
    certificate of due formation and organization and continued authorization to conduct business in the jurisdiction of its organization
    (e.g., certificate of good standing).
	 	 
	_____	An
    “incumbency certificate” attesting to the title of the individual executing these subscription materials on behalf
    of the prospective investor. 
	 	 
	_____
    	A
    letter of reference from the entity’s local office of a reputable bank or brokerage firm that is incorporated, or has
    its principal place of business located, in the U.S. or other FATF Country certifying that the prospective investor maintains
    an account at such bank/brokerage firm for a length of time and containing a statement affirming the prospective investor’s
    integrity.
	 	 
	_____	If
    the prospective investor is a privately-held entity, a certified list of the names of every person or entity who is directly
    or indirectly the beneficial owner of 25% or more of any voting or non-voting class of equity interests of the Subscriber,
    including (i) country of citizenship (for individuals) or principal place of business (for entities) and, (ii) for individuals,
    such individual’s principal employer and position.
	 	 
	 	If
    the prospective investor is a trust, a certified list of (i) the names of the current beneficiaries of the trust that have,
    directly or indirectly, 25% or more of any interest in the trust, (ii) the name of the settlor of the trust, (iii) the name(s)
    of the trustee(s) of the trust, and (iv) the country of citizenship (for individuals) or principal place of business (for
    entities).
	 	 
	_____
    	One
    or more of the above documentations has previously provided to Placement Agent.

 

The
Subscriber hereby represents and warrants that all of its answers to this Investor Questionnaire are true as of the date of its
execution of the Subscription Agreement pursuant to which it purchased the Securities.

 

    	- 16 -

     

    

 

	 	 	 
	Name
    of Purchaser [please print]	 	Name
    of Co-Purchaser [please print]
	 	 	 
	 	 	 
	Signature
        of Purchaser (Entities please

        provide
        signature of Purchaser’s duly

        authorized
        signatory.)
	 	Signature
    of Co-Purchaser
	 	 	 
	 	 	 
	Name
    of Signatory (Entities only)	 	 
	 	 	 
	 	 	 
	Title
    of Signatory (Entities only)	 	 

 

    	- 17 -

     

    

 

VERIFICATION
OF INVESTMENT ADVISOR/BROKER

 

I
state that I am familiar with the financial affairs and investment objectives of the investor named above and reasonably believe
that a purchase of the Securities is a suitable investment for this investor and that the investor, either individually or together
with his or her purchaser representative, understands the terms of and is able to evaluate the merits of this offering. I acknowledge:

 

	 	(a)	that
    I have reviewed the Subscription Agreement and forms of securities presented to me, and attachments (if any) thereto;
	 	 	 
	 	(b)	that
    the Subscription Agreement and attachments thereto have been fully completed and executed by the appropriate party; and
	 	 	 
	 	(c)	that
    the subscription will be deemed received by the Company upon acceptance of the Subscription Agreement.

 

Deposit
securities from this offering directly to purchaser’s account? [  ] Yes [  ] No

 

If
“Yes,” please indicate the account number: _____________________________________

 

	 	 	 
	Broker/Dealer	 	Account
    Executive
	 	 	 
	 	 	 
	(Name
    of Broker/Dealer)	 	(Signature)
	 	 	 
	 	 	 
	(Street
    Address of Broker/Dealer Office)	 	(Print
    Name)
	 	 	 
	 	 	 
	(City
    of Broker/Dealer Office) (State) (Zip)	 	(Representative
    I.D. Number)
	 	 	 
	 	 	 
	(Telephone
    Number of Broker/Dealer Office)	 	(Date)
	 	 	 
	 	 	 
	(Fax
    Number of Broker/Dealer Office)	 	(E-mail
    Address of Account Executive)

 

    	- 18 -

     

    

 

Exhibit
A

 

Form
of Warrant

 

(see
attached)

 

    	- 19 -

     

    

 

Exhibit
B

 

Form
of Escrow Agreement

 

(see
attached)

 

    	- 20 -FORM
OF WARRANT

 

Warrant
No.

 

THIS
WARRANT HAS BEEN, AND THE SHARES OF COMMON STOCK WHICH MAY BE PURCHASED PURSUANT TO THE EXERCISE OF THIS WARRANT (THE “WARRANT
SHARES”) WILL BE, ACQUIRED SOLELY FOR INVESTMENT AND NOT WITH A VIEW TO, OR FOR RESALE IN CONNECTION WITH, ANY DISTRIBUTION
THEREOF. NEITHER THIS WARRANT NOR THE SHARES (TOGETHER, THE “SECURITIES”) HAVE BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. SUCH SECURITIES MAY NOT BE SOLD,
OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF SUCH REGISTRATION OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY
AND ITS COUNSEL THAT SUCH DISPOSITION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF THE ACT AND OF ANY
APPLICABLE STATE SECURITIES LAWS.

 

GSRX
INDUSTRIES INC.

 

COMMON
STOCK PURCHASE WARRANT

 

	Warrant
    Shares: [_______]	Issuance
    Date: [________], 2018	 

 

THIS
COMMON STOCK PURCHASE WARRANT (this “Warrant”) certifies that, for value received, _____________ 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 the Issuance Date hereof (the “Initial Exercise Date”) and on or prior to
the close of business on the third year anniversary of the Issuance Date (the “Termination Date”) but not thereafter,
to subscribe for and purchase from GSRX Industries Inc., a Nevada corporation (the “Company”), up to
______ shares (as subject to adjustment hereunder, the “Warrant Shares”) of the Company’s common stock,
par value $0.001 (“Common Stock”). 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. Except as set forth in this Section 1, capitalized terms used and not otherwise defined herein shall
have the meanings set forth in that certain Subscription Agreement (the “Subscription Agreement”), dated August
___, 2018, by and between the Company and the Holder.

 

“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.

 

“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.

 

“Common
Stock Equivalents” means any securities of the Company which would entitle the holder thereof to acquire at any time
Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at
any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

 

    	 	1	 

    	 

    

 

“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.

 

“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 Common Stock is traded on a Trading Market.

 

“Transfer
Agent” means American Registrar & Transfer Co., the current transfer agent of the Company, with a mailing address
of 1234 W South Jordan Pkwy Ste 3-B, South Jordan, UT 84095 and a facsimile number of (801) 363-9066, and any successor transfer
agent of the Company.

 

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 pdf copy submitted by email attachment of the Notice of Exercise in the form
annexed hereto (“Notice of Exercise”). Within the earlier of (i) three (3) Trading Days and (ii) the number of
Trading Days comprising the Standard Settlement Period (as defined in Section 2(d)(i) herein) 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 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 this Warrant has been exercised in full, in which case, the Holder
shall surrender this Warrant to the Company for cancellation within three (3) 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 within one (1) Business Day 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 $2.50, subject to adjustment
hereunder (the “Exercise Price”).

 

    	 	2	 

    	 

    

 

c)
Mechanics of Exercise.

 

i.
Delivery of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted
by the Transfer Agent to the Holder by crediting the account of the Holder’s prime broker 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 there is an effective registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant
Shares by Holder, and otherwise by physical delivery to the address specified by the Holder in the Notice of Exercise by the date
that is the later of (A) the earlier of (i) three (3) Trading Days and (ii) the number of Trading Days comprising the Standard
Settlement Period, in each case after the delivery to the Company of the Notice of Exercise and (B) one (1) Trading Day after
the payment of the aggregate Exercise Price as set forth above (such date, the “Warrant Share Delivery Date”).
Except as set forth below, the Warrant Shares shall be deemed to have been issued, and the 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 this 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)(v) prior to the issuance of such shares, having been paid. The Holder
shall be deemed to have exercised this Warrant upon delivery of a duly completed Notice of Exercise. As used in this Warrant,
“Standard Settlement Period” means the standard settlement period, expressed in a number of Trading Days, on
the Company’s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the Notice
of Exercise. The Company agrees to maintain a transfer agent that is a participant in the FAST Program so long as this Warrant
remains outstanding and exercisable.

 

ii.
Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request
of the Holder and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to Holder
a new Warrant evidencing the rights of 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 the Transfer Agent to transmit 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.

 

iv.
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.

 

v.
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 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 other established clearing corporation performing similar functions) required
for same day electronic delivery of the Warrant Shares.

 

vi.
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.

 

    	 	3	 

    	 

    

 

d)
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 (such Persons,
“Attribution Parties”)), 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 and Attribution Parties 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
or Attribution Parties 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 or Attribution Parties.
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 Attribution Parties) 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 Attribution Parties) 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 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 or Attribution Parties since the date as of which such number
of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% 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.

 

    	 	4	 

    	 

    

 

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.

 

b)
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.

 

c)
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 deliver to the Holder by facsimile or email 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 delivered
by facsimile or email to the Holder at its last facsimile number or email address as it shall appear upon the Warrant Register
of the Company, at least 20 calendar days prior to the applicable record or effective date hereinafter specified, a notice 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 deliver such notice or any defect therein or in the delivery thereof shall not affect the validity of the corporate action
required to be specified in such notice. To the extent that any notice provided in this Warrant constitutes, or contains, material,
non-public information regarding the Company or any of the 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.

 

    	 	5	 

    	 

    

 

Section
4. Transfer of Warrant.

 

a)
Transferability. This Warrant and all rights hereunder 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. This 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 this 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.

 

Section
5. 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), except as expressly set forth
in Section 3.

 

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 stock 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.

 

    	 	6	 

    	 

    

 

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 Business Day, then, such action may be taken or such right may be exercised on the next
succeeding Business Day.

 

d)
Authorized Shares. The Company covenants that, during the period this 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 Subscription 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 the
Holder shall operate as a waiver of such right or otherwise prejudice Holder’s rights, powers or remedies. Without limiting
any other provision of this Warrant or the Subscription 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.

 

    	 	7	 

    	 

    

 

h)
Notices. Any notices, consents, waivers or other document or communications required or permitted to be given or delivered
under the terms of this Warrant must be in writing and will be deemed to have been delivered: (i) upon receipt, if delivered personally;
(ii) when sent, if sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept
on file by the sending party); (iii) when sent, if sent by e-mail (provided that such sent e-mail is kept on file (whether electronically
or otherwise) by the sending party and the sending party does not receive an automatically generated message from the recipient’s
e-mail server that such e-mail could not be delivered to such recipient) and (iv) if sent by overnight courier service, one (1)
Trading Day after deposit with an overnight courier service with next day delivery specified, in each case, properly addressed
to the party to receive the same. If notice is given by facsimile or email, a copy of such notice shall be dispatched no later
than the next business day by first class mail, postage prepaid. The addresses, facsimile numbers and e-mail addresses for such
communications shall be:

 

If
to the Company:

 

GSRX
Industries Inc.

Building
No. 3, P.R. 696, Int. Jose Efron, Ave.

Gorado,
Puerto Rico 00646

Attn:
Thomas Gingerich, CFO & Secretary

 

If
to a Holder, to its address, facsimile number or e-mail address set forth herein or on the books and records of the Company.

 

Or,
in each of the above instances, to such other address, facsimile number or e-mail address and/or to the attention of such other
Person as the recipient party has specified by written notice given to each other party at least five (5) days prior to the effectiveness
of such change. Written confirmation of receipt (A) given by the recipient of such notice, consent, waiver or other communication,
(B) mechanically or electronically generated by the sender’s facsimile machine containing the time, date and recipient facsimile
number or (C) provided by an overnight courier service shall be rebuttable evidence of personal service, receipt by facsimile
or receipt from an overnight courier service in accordance with clause (i), (ii) or (iv) above, respectively. A copy of the e-mail
transmission containing the time, date and recipient e- mail address shall be rebuttable evidence of receipt by e-mail in accordance
with clause (iii) above.

 

i)
Limitation of Liability. No provision hereof, in the absence of any affirmative action by Holder to exercise this Warrant
to purchase Warrant Shares, and no enumeration herein of the rights or privileges of 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 Holder.

 

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)

 

    	 	8	 

    	 

    

 

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.

 

	 	GSRX
    Industries Inc.
	 	 
	 	By:	                          
	 	Name:	 
	 	Title:	 

 

(Signature
Page to Firm Warrant)

 

    	 	9	 

    	 

    

 

NOTICE
OF EXERCISE

 

To:
GSRX Industries Inc.

 

(1)
The undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant
(only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer
taxes, if any.

 

(2)
Payment shall take the form of (check applicable box):

 

[  ] in lawful money of the United States;

 

Please
issue Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

		 	 

 

In
accordance with Section 2(d) of the Warrant, the Warrant Shares shall be delivered to the following DWAC Account Number or by
physical delivery of a certificate to:

 

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

[SIGNATURE
OF HOLDER]

 

Name
of Investing Entity:

 

________________________________________________________________________

Signature
of Authorized Signatory of Investing Entity:

_________________________________________________

Name
of Authorized Signatory:

___________________________________________________________________

Title
of Authorized Signatory: 

__________________________________________________________________

Date:
_______________________________________________________________

 

    	 	10	 

    	 

    

 

ASSIGNMENT
FORM

 

(To
assign the foregoing Warrant, execute

this form and supply required information.

Do not use this form to exercise the Warrant.)

 

FOR
VALUE RECEIVED, _______ shares underlying the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

_______________________________________________
whose address is

 

_______________________________________________________________.

 

_______________________________________________________________

 

	 	Dated:
    ______________, _______	 

 

	 	Holder’s
    Signature:	___________________________	
	 	 	 	 
	 	Holder’s
    Address:	___________________________	 
	 	 	 	 
	 	 	___________________________	 

 

Signature
Guaranteed: ___________________________________________

 

NOTE:
The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration
or enlargement or any change whatsoever, and must be guaranteed by a bank or trust company. Officers of corporations and those
acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.

 

    	 	11

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