Document:

Exhibit 4.3

 

PRE-FUNDED COMMON SHARE PURCHASE WARRANT

 

SIYATA
MOBILE, INC.

 

	Warrant Shares: _______	 	Initial Exercise Date: _______, 2022

 

THIS PRE-FUNDED COMMON SHARE WARRANT (the
“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 date
hereof (the “Initial Exercise Date”) and until this Warrant is exercised in full (the “Termination Date”)
to subscribe for and purchase from Siyata Mobile, Inc., a corporation incorporated under the laws of British Columbia (the “Company”),
up to ______ shares (as subject to adjustment hereunder, the “Warrant Shares”) of Common Shares (as hereinafter defined).
The purchase price of one Common Share under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b). This Warrant
shall initially be issued and maintained in the form of a security held in book-entry form and The Depository Trust Company or its nominee
(“DTC”) shall initially be the sole registered holder of this Warrant, subject to a Holder’s right to elect to receive
a Warrant in certificated form pursuant to the terms of the Warrant Agency Agreement, in which case this sentence shall not apply.

 

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

 

“Affiliate”
has the meaning ascribed to it in Rule 12b-2 of the General Rules and
Regulations under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

 

“Bid Price”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Shares are then listed
or quoted on a Trading Market, the bid price of the Common Shares for the time in question (or the nearest preceding date) on the Trading
Market on which the Common Shares are 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 the Common Share for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common Shares are not then
listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Shares are then reported in the Pink Open Market operated
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 the Common Shares so reported, or (d) in all other cases, the fair market value of one Common Share as determined
by an independent appraiser selected in good faith by the Holders of a majority in interest of the Warrants then outstanding and reasonably
acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

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“Board
of Directors” means the board of directors of the Company.

 

“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
Shares” means the common shares of the Company, no par value, and any other class of securities into which such securities may
hereafter be reclassified or changed.

 

“Common
Share Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire
at any time Common Shares, 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 Shares.

 

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

 

“Person”
means an individual, corporation, association, partnership, limited
liability company, joint venture, trust, unincorporated organization, government or political subdivision thereof or governmental agency
or other entity.

 

“Registration
Statement” means the Company’s registration statement on Form F-1 (File No. 333-261644).

 

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

 

“Subsidiary”
means any subsidiary of the Company and shall, where applicable, also include any direct or indirect subsidiary of the Company formed
or acquired after the date hereof.

 

“Trading
Day” means a day on which the Common Shares are traded on a Trading Market.

 

“Trading
Market” means any of the following markets or exchanges on which the Common Shares are 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, the New York Stock
Exchange (or any successors to any of the foregoing).

 

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“Transfer
Agent” means Computershare Investor Services Inc., the current transfer agent of the Company, with a mailing address of Computershare Canada, 510 Burrard Street, 2nd Floor, Vancouver,
British Columbia, V6C 3B9 Canada and any successor transfer agent of the Company.

 

“Underwriting
Agreement” means the underwriting agreement, dated as of _________, 2022 between the Company and Maxim Group LLC as representative
of the underwriters named therein, as amended, modified or supplemented from time to time in accordance with its terms.

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Shares are then listed
or quoted on a Trading Market, the daily volume weighted average price of the Common Share for such date (or the nearest preceding date)
on the Trading Market on which the Common Shares are 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 the Common Share for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common Shares
are not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Shares are then reported on the Pink Open Market
(or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per Common Share so reported,
or (d) in all other cases, the fair market value of a Common Share as determined by an independent appraiser selected in good faith
by the holders of a majority in interest of the Warrants then outstanding and reasonably acceptable to the Company, the fees and expenses
of which shall be paid by the Company.

 

“Warrant Agency
Agreement” means that certain warrant agency agreement, dated as of [___], between the Company and the Warrant Agent.

 

“Warrant Agent”
means Computershare Inc. and Computershare Trust Company, N.A., jointly, and any successor warrant agent of the Company.

 

“Warrants”
means this Warrant and other Pre-Funded Common Stock purchase warrants issued by the Company pursuant to the Registration Statement.

 

Section 2. Exercise.

 

a) Exercise
of Warrant. Subject to the provisions of Section 2(e) herein, 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
Warrant Agent and the Company of a duly executed facsimile copy or PDF copy submitted by e-mail (or e-mail attachment) of the Notice of
Exercise in the form annexed hereto (the “Notice of Exercise”). Within the earlier of (i) two (2) 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 to the Warrant Agent 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 the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant
to the Warrant Agent for cancellation within three (3) Trading Days of the date on which 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 to the Holder and the Warrant Agent 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. Notwithstanding the
foregoing in this Section 2(a), a holder whose interest in this Warrant is a beneficial interest in certificate(s) representing this Warrant
held in book-entry form through DTC (or another established clearing corporation performing similar functions), shall effect exercises
made pursuant to this Section 2(a) by delivering to DTC (or such other clearing corporation, as applicable) the appropriate instruction
form for exercise, complying with the procedures to effect exercise that are required by DTC (or such other clearing corporation, as applicable),
subject to a Holder’s right to elect to receive a Definitive Warrant pursuant to the terms of the Warrant Agency Agreement, in which
case this sentence shall not apply.

 

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b) Exercise
Price. The aggregate exercise price of this Warrant, except for a nominal exercise price of $0.01 per Warrant Share, was pre-funded
to the Company on or prior to the Initial Exercise Date and, consequently, no additional consideration (other than the nominal exercise
price of $0.01 per Warrant Share) shall be required to be paid by the Holder to any Person to effect any exercise of this Warrant. The
Holder shall not be entitled to the return or refund of all, or any portion, of such pre-paid aggregate exercise price under any circumstance
or for any reason whatsoever, including in the event this Warrant shall not have been exercised prior to the Termination Date. The remaining
unpaid exercise price per Common Share under this Warrant shall be $0.01, subject to adjustment hereunder (the “Exercise Price”).

 

c) Cashless
Exercise. This Warrant may also be exercised, in whole or in part, at any time by means of a “cashless exercise” in which
the Holder shall be entitled to receive a 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)(68) of
Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP
on the Trading Day immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Share on the
principal Trading Market as reported by Bloomberg L.P. as of the time of the Holder’s execution 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.

 

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. The Company agrees not to take any position
contrary to this Section 2(c).

 

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d) 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 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) this Warrant is being exercised via cashless exercise, 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 the earliest of (i) two (2) Trading Days after the delivery to the Company of the Notice of Exercise, (ii) one (1) Trading Day after delivery of the aggregate Exercise Price to the Company and (iii) the number of Trading Days comprising the Standard Settlement Period after the delivery to the Company of the Notice of Exercise (such date, the “Warrant Share Delivery Date”). Upon delivery of the Notice of Exercise, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date of delivery of the Warrant Shares, provided that payment of the aggregate Exercise Price (other than in the case of a cashless exercise) is received within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period following delivery of the Notice of Exercise. If the Company fails for any reason to deliver to the Holder the Warrant Shares subject to a Notice of Exercise by the Warrant Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares subject to such exercise (based on the VWAP of the Common Share on the date of the applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated damages begin to accrue) for each Trading Day after such Warrant Share Delivery Date until such Warrant Shares are delivered or Holder rescinds such 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. As used herein, “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 Share as in effect on the date of delivery of the Notice of Exercise. Notwithstanding the foregoing, with respect to any Notice(s) of Exercise delivered on or prior to 12:00 p.m. (New York City time) on the Initial Exercise Date, which may be delivered at any time after the time of execution of the Underwriting Agreement, the Company agrees to deliver the Warrant Shares subject to such notice(s) by 4:00 p.m. (New York City time) on the Initial Exercise Date and the Initial Exercise Date shall be the Warrant Share Delivery Date for purposes hereunder.

 

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 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.

 

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iv. Compensation
for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available to the Holder, if
the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions of Section
2(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the Holder is required by its
broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, Common Shares
to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a
“Buy-In”), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s
total purchase price (including brokerage commissions, if any) for the Common Shares so purchased exceeds (y) the amount obtained by multiplying
(1) the number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times
(2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either
reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in which case such
exercise shall be deemed rescinded) or deliver to the Holder the number of Common Shares that would have been issued had the Company timely
complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases Common Share having a total purchase
price of $11,000 to cover a Buy-In with respect to an attempted exercise of Common Shares with an aggregate sale price giving rise to
such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be required to pay the Holder
$1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and,
upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder’s right to pursue any other
remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive
relief with respect to the Company’s failure to timely deliver Common Shares upon exercise of the Warrant as required pursuant to
the terms hereof.

 

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 (together with a medallion guarantee if requested by the Warrant Agent) 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.

 

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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.

 

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 (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 Common Shares beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of Common
Shares issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of
Common Shares 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 Shares 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 neither the Company nor the Warrant Agent shall
have any 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 Common Shares, a Holder may rely on the number of outstanding
Common Shares 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 Common Shares outstanding.  Upon the written or oral request of a Holder, the Company shall within one Trading
Day confirm orally and in writing to the Holder the number of Common Shares then outstanding.  In any case, the number of outstanding
Common Shares 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 Common Shares was reported.
The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants,
9.99%) of the number of Common Shares outstanding immediately after giving effect to the issuance of Common Shares are 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), 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.

 

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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 its Common Shares or any other equity or equity equivalent securities payable in Common
Shares (which, for avoidance of doubt, shall not include any Common Shares are issued by the Company upon exercise of this Warrant),
(ii) subdivides outstanding Common Shares into a larger number of shares, (iii) combines (including by way of reverse stock split)
outstanding Common Shares into a smaller number of shares, or (iv) issues by reclassification of Common Shares 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 Common Shares (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator
shall be the number of Common Shares 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) 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 Shares Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any
class of Common Shares (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 Common
Shares 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 Common Shares are to be determined for the grant, issue
or sale of such Purchase Rights (provided, however, that, 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 Common Shares 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).

 

c) Pro
Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other distribution
of its assets (or rights to acquire its assets) to holders of Common Shares, by way of return of capital or otherwise (including, without
limitation, any distribution of cash, stock 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 Common Shares 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 Common Shares are to be determined for the participation in such Distribution (provided, however, that,
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 Common Shares 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.

 

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d) 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 (and all of its Subsidiaries, taken as
a whole), 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 Shares 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 Shares, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization
or recapitalization of the Common Shares or any compulsory share exchange pursuant to which the Common Shares are 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, merger or scheme of arrangement) with another Person or group of Persons whereby such other Person or group acquires more than
50% of the outstanding Common Shares (not including any Common Shares 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 Common Shares of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration
(the “Alternate Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of
Common Shares 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 Common Share 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
Shares 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 Common Shares 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 Common Shares 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.

 

e) Calculations.
All calculations under this Section 3 shall be made by the Company 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 Common Shares deemed to be issued and outstanding as of a given date shall be the
sum of the number of Common Shares (excluding treasury shares, if any) issued and outstanding.

 

    9

    

    

 

f) 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 and to the Warrant Agent (in accordance with Section 19 of the Warrant Agency Agreement), 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
Shares, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Shares, (C) the Company shall
authorize the granting to all holders of the Common Shares 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 Shares, any consolidation or merger to which the Company (and all of its Subsidiaries, taken as a whole) 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 Shares
are 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 Shares 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 Shares of record shall be entitled to exchange
their Common Shares 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.

 

g) Voluntary
Adjustment By Company. Subject to the rules and regulations of the Trading Market, the Company may at any time during the term of
this Warrant, subject to the prior written consent of the Holder, reduce the then current Exercise Price to any amount and for any period
of time deemed appropriate by the board of directors of the Company. The Company shall promptly inform the Warrant Agent in writing of
any such adjustment, and the Warrant Agent shall not be deemed to have knowledge of any such adjustment
unless and until it shall have received such written notice.

 

Section 4. Transfer
of Warrant.

 

a) Transferability.
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 office of the Warrant Agent designated for such purpose, together with a written assignment of this
Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney (together with a medallion guarantee
if requested by the Warrant Agent) 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 on which the Holder delivers an assignment form (together with a medallion guarantee if requested by the Warrant Agent) to
the Company assigning this Warrant in 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.

 

    10

    

    

 

 

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 Warrant Agent (or, in the event a Holder elects to receive a Definitive Certificate (as defined in the Warrant
Agency Agreement), the Company) shall register this Warrant, upon records to be maintained by the Warrant Agent (or, in the event a
Holder elects to receive a Definitive Certificate, the Company for that purpose (the “Warrant Register”), in the
name of the record Holder hereof from time to time. The Company and the Warrant Agent 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; No Settlement in Cash. 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. Without limiting any rights of a Holder to receive Warrant Shares on a “cashless exercise” pursuant to
Section 2(c) or to receive cash payments pursuant to Section 2(d)(i) and Section 2(d)(iv) herein, in no event shall the Company be required
to net cash settle an exercise of this Warrant.

 

b) Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company and the Warrant Agent 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, 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 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 the Warrant is outstanding, it will reserve from its authorized and unissued Common Shares 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 Shares 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).

 

    11

    

    

 

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 articles
of association 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) Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be governed by and
construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of
law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions
contemplated by this Warrant (whether brought against a party hereto or their respective affiliates, directors, officers, shareholders,
partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City of New York.
Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough
of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed
herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally
subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding.
Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding
by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address
in effect for notices to it under this Warrant and agrees that such service shall constitute good and sufficient service of process and
notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted
by law. If either party shall commence an action, suit or proceeding to enforce any provisions of this Warrant, the prevailing party in
such action, suit or proceeding shall be reimbursed by the other party for their reasonable attorneys’ fees and other costs and
expenses incurred with the investigation, preparation and prosecution of such action or proceeding.

 

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, 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.

 

    12

    

    

 

h) Notices.
Any and all notices or other communications or deliveries to be provided by the Holders hereunder including, without limitation, any Notice
of Exercise, shall be in writing and delivered personally, by facsimile or e-mail, or sent by a nationally recognized overnight courier
service, addressed to the Company, at 1001 Lenoir St Suite A-414 Montreal, QC H4C 2Z6 Attention: Gerald Bernstein, Chief Financial Officer,
email address: gerry@siyata.net, or such other facsimile number, email address or address as the Company may specify for such purposes
by notice to the Holders. Any and all notices or other communications or deliveries to be provided by the Company or the Warrant Agent
hereunder shall be in writing and delivered personally, by facsimile or e-mail, or sent by a nationally recognized overnight courier service
addressed to each Holder at the facsimile number, e-mail address or address of such Holder appearing on the books of the Company. Any
and all notices or other communications or deliveries to the Warrant Agent hereunder shall be delivered in accordance with Section 19
of the Warrant Agency Agreement. Any notice or other communication or deliveries hereunder shall be deemed given and effective on the
earliest of (i) the time of transmission, if such notice or communication is delivered via facsimile at the facsimile number or via e-mail
at the e-mail address set forth in this Section prior to 5:30 p.m. (New York City time) on any date, (ii) the next Trading Day after the
time of transmission, if such notice or communication is delivered via facsimile at the facsimile number or via e-mail at the e-mail address
set forth in this Section on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (iii) the
second Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service, or (iv) upon actual
receipt by the party to whom such notice is required to be given. To the extent that any notice provided hereunder constitutes, or contains,
material, non-public information regarding the Company or any Subsidiaries, the Company shall simultaneously file such notice with the
Commission pursuant to a Report on Form 6-K.

 

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 Shares 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)
Warrant Agency Agreement; Amendment. This Warrant is issued under and in accordance with the Warrant Agency Agreement, and is
subject to the terms and provisions contained therein, to all of which terms and provisions the beneficial owners of the Warrants and
the Holders consent by acceptance hereof. The Warrant Agency Agreement is hereby incorporated herein by reference and made a part hereof.
The Warrant Agency Agreement and this Warrant may be amended and the observance of any term of the Warrant Agency Agreement or this Warrant
may be waived only to the extent provided in the Warrant Agency Agreement.

 

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.

 

o)
Warrant Agency Agreement. If this Warrant is held in global form through DTC (or any successor depositary), this Warrant is issued
subject to the Warrant Agency Agreement. Subject to Section 22 of the Warrant Agency Agreement, to the extent any provision of this Warrant
conflicts with the express provisions of the Warrant Agency Agreement, the provisions of this Warrant shall govern and be controlling.

 

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

 

(Signature Page Follows)

 

    13

    

    

 

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.

 

	 	SIYATA MOBILE, INC.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	 	COUNTERSIGNED:
	 	 
	 	COMPUTERSHARE INC. and
	 	COMPUTERSHARE TRUST COMPANY, N.A., for both entities
	 	 
	 	By:	                             
	 		Name:
	 		Title:

 

    

    

    

 

NOTICE OF EXERCISE

 

To:
Computershare Inc. and Computershare Trust Company, N.A. AND SIYATA MOBILE, 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; or

 

☐ if permitted the
cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c), to exercise
this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in
subsection 2(c).

 

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

 

_______________________________

 

 

The Warrant Shares shall be delivered to the following
DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

[SIGNATURE
OF HOLDER]

 

Name of Investing Entity: ________________________________________________________________________

Signature of Authorized Signatory of Investing
Entity: _________________________________________________

Name of Authorized Signatory: ___________________________________________________________________

Title of Authorized Signatory: ____________________________________________________________________

Date: ________________________________________________________________________________________

 

    

    

    

 

ASSIGNMENT FORM

 

(To assign the foregoing
Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

 

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

 

	Name:	 	 
	 	 	(Please Print)
	 	 	 
	Address:	 	 
	 	 	(Please Print)

 

	Phone Number:	 	 
	 	 	 
	Email Address: 	 	 

 

	Dated: _______________ __, ______	 
	 	 
	Holder’s Signature: _____________________	 
	 	 
	Holder’s Address:_______________________Exhibit 4.4

 

 

 

SIYATA MOBILE INC.

and

 

COMPUTERSHARE INC. and COMPUTERSHARE TRUST COMPANY,
N.A., jointly as

Warrant Agent

 

 

 

Warrant Agency Agreement

 

Dated as of [    ] __, 20__

 

     

     

    

 

WARRANT AGENCY AGREEMENT

 

WARRANT AGENCY AGREEMENT,
dated as of [     ] __, 20__ (“Agreement”), between Siyata Mobile, Inc., a corporation organized under the laws of British
Columbia (the “Company”), and Computershare Inc., a Delaware corporation (“Computershare”), and
its affiliate, Computershare Trust Company, N.A., a federally chartered trust company (collectively, the “Warrant Agent”).

 

W I T N E S S E T H

 

WHEREAS, pursuant to a
registered offering (the “Offering”) by the Company of: (i) [___] [Units] with each Unit consisting of one (1)
share of the Company’s common share, no par value (the “Common Share(s)”) and one (1) warrant (the
“Common Share Purchase Warrant(s)”) to purchase one (1) Common Share (the “Common Warrant
Share(s)”) at a price of US$[___] per share (or [__]% of the price of each Common Share sold in the Offering); and/or (ii)
[___] [Pre-Funded Units] with each Pre-Funded Unit consisting of one (1) Pre-Funded Warrant (“Pre-Funded
Warrant(s)”) to purchase one Common Share at a price of US$0.01 per share and one Common Share Purchase Warrant to
purchase one (1) Common Share (the “Pre-Funded Warrant Share(s),” and together with the Common Warrant Share(s),
individually and collectively, the “Warrant Shares”)) at a price of US$[___] per share (or [__]% of the price of
each Common Share sold in the Offering); and

 

WHEREAS, the Company granted
an over-allotment option to purchase up to 15% of the aggregate number of Units and/or Pre-Funded Units sold, including Common Share Purchase
Warrants to purchase an additional [__] Common Shares (the “Over-Allotment Option”) to the Underwriters; and

 

WHEREAS, upon the terms and
subject to the conditions hereinafter set forth and pursuant to an effective registration statement on Form F-1, as amended (File No.
333-[             ]) (the “Registration Statement”), and the terms and conditions of the Common Share Purchase Warrant Certificate
and the Pre-Funded Warrant Certificate, the Company wishes to issue the Common Share Purchase Warrants and the Pre-Funded Warrants in
book entry form entitling the respective holders of the Common Share Purchase Warrants and the Pre-Funded Warrants (the “Holders,”
which term shall include a Holder’s transferees, successors and assigns and “Holder” shall include, if the Common Share
Purchase Warrants and the Pre-Funded Warrants are held in “street name,” a Participant (as defined below) or a designee appointed
by such Participant); and

 

WHEREAS, the shares of Common
Shares and Common Share Purchase Warrants to be issued in connection with the Offering shall be immediately separable and will be issued
separately, but will be purchased together in the Offering and the Common Share Purchase Warrants will not be listed for trading; and

 

WHEREAS, the Pre-Funded Warrants
and Common Share Purchase Warrants to be issued in connection with the Offering shall be immediately separable and will be issued separately,
but will be purchased together in the Offering and the Pre-Funded Warrants and the Common Share Purchase Warrants will not be listed for
trading; and

 

WHEREAS, the Company wishes
the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing so to act, in connection with the issuance, registration,
transfer, exchange, exercise and replacement of the Common Share Purchase Warrants and the Pre-Funded Warrants (collectively, the “Warrants”)
and, in the Warrant Agent’s capacity as the Company’s transfer agent, the delivery of the Warrant Shares.

 

    2

     

    

 

NOW, THEREFORE, in consideration
of the premises and the mutual agreements herein set forth, the parties hereby agree as follows:

 

Section 1. Certain Definitions.
For purposes of this Agreement, all capitalized terms not herein defined shall have the meanings hereby indicated:

 

(a) “Affiliate”
has the meaning ascribed to it in Rule 12b-2 of the General Rules and Regulations under the Securities Exchange Act of 1934, as amended
(the “Exchange Act”).

 

(b) “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.

 

(c) “Close of Business”
on any given date means 5:00 p.m., New York City time, on such date; provided, however, that if such date is not a Business
Day it means 5:00 p.m., New York City time, on the next succeeding Business Day.

 

(d) “Common Share
Purchase Warrant Certificate” means a certificate in substantially the form attached as Exhibit 1 hereto, representing
such number of Warrant Shares as is indicated therein, provided that any reference to the delivery of a Warrant Certificate in this Agreement
shall include delivery of a Definitive Certificate or a Global Warrant (each as defined below).

 

(e) “Person”
means an individual, corporation, association, partnership, limited liability company, joint venture, trust, unincorporated organization,
government or political subdivision thereof or governmental agency or other entity.

 

(f) “Pre-Funded
Warrant Certificate” means a certificate in substantially the form attached as Exhibit 2 hereto, representing such number
of Common Shares as is indicated therein, provided that any reference to the delivery of a Warrant Certificate in this Agreement shall
include delivery of a Definitive Certificate or a Global Warrant (each as defined below).

 

All other capitalized terms
used but not otherwise defined herein shall have the meaning ascribed to such terms in the respective Warrant Certificate.

 

Section 2. Appointment
of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company in accordance with the express terms
and conditions hereof, and the Warrant Agent hereby accepts such appointment.

 

Section 3. Global Warrants.

 

(a) The Warrants shall
be registered securities and each of the Common Share Purchase Warrant and the Pre-Funded Warrant shall be evidenced by a separate global
warrant (the “Global Warrants”), in the form of the Common Share Purchase Warrant Certificate and the Pre-Funded Warrant
Certificate, each of which shall be deposited with the Warrant Agent and each of which shall be registered in the name of Cede &
Co., a nominee of The Depository Trust Company (the “Depositary”), or as otherwise directed by the Depositary. Ownership
of beneficial interests in the Warrants shall be shown on, and the transfer of such ownership shall be effected through, records maintained
by (i) the Depositary or its nominee for each such Global Warrant or (ii) institutions that have accounts with the Depositary (such institution,
with respect to each such Warrant in its account, a “Participant”).

 

    3

     

    

 

(b) If the Depositary subsequently
ceases to make its book-entry settlement system available for the Common Share Purchase Warrants and the Pre-Funded Warrants, the Company
may instruct the Warrant Agent regarding other arrangements for book-entry settlement. In the event that the Common Share Purchase Warrants
and the Pre-Funded Warrants are not eligible for, or it is no longer necessary to have the Common Share Purchase Warrants and the Pre-Funded
Warrants available in, book-entry form, the Warrant Agent shall provide written instructions to the Depositary to deliver to the Warrant
Agent for cancellation each Global Warrant, and the Company shall instruct the Warrant Agent to deliver to each Holder a Common Share
Purchase Warrant Certificate or a Pre-Funded Warrant Certificate, as applicable.

 

(c) A Holder has the
right to elect at any time or from time to time a Warrant Exchange (as defined below) pursuant to a Warrant Certificate Request
Notice (as defined below). Upon written notice by a Holder to the Company and the Warrant Agent for the exchange of some or all of
such Holder’s Global Warrants for a separate certificate substantially in the form attached hereto as Exhibit 1 or Exhibit
2, as the case may be (such separate certificate, a “Definitive Certificate”) evidencing the same number of
either Common Share Purchase Warrants or Pre-Funded Warrants, as applicable, which request shall be in the form attached hereto as Exhibit
3 (a “Warrant Certificate Request Notice” and the date of delivery of such Warrant Certificate Request Notice
by the Holder, the “Warrant Certificate Request Notice Date” and the surrender by the Holder to the Warrant Agent
of a number of Global Warrants for the same number of Common Share Purchase Warrants or the Pre-Funded Warrants evidenced by a
Common Share Purchase Warrant Certificate or a Pre-Funded Warrant Certificate, a “Warrant Exchange”) properly
completed and duly executed, the Company and the Warrant Agent shall promptly effect the Warrant Exchange and the Company shall
promptly issue and deliver to the Holder a Definitive Certificate for such number of Common Share Purchase Warrants or Pre-Funded
Warrants in the name set forth in the Warrant Certificate Request Notice. Such Definitive Certificate shall be dated the original
issue date of the Common Share Purchase Warrants or Pre-Funded Warrants, shall be manually executed by an authorized signatory of
the Company, shall be substantially in the form attached hereto as Exhibit 1 or Exhibit 2, as applicable, and shall be
reasonably acceptable in all respects to such Holder. In connection with a Warrant Exchange, the Company agrees to deliver the
Definitive Certificate to the Holder within ten (10) Business Days of the Warrant Certificate Request Notice pursuant to the
delivery instructions in the Warrant Certificate Request Notice (“Warrant Certificate Delivery Date”). If the
Company fails for any reason to deliver to the Holder the Definitive Certificate subject to the Warrant Certificate Request Notice
by the Warrant Certificate Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty,
for each $1,000 of Common Warrant Shares [or Pre-Funded Warrant Shares, as applicable,] evidenced by such Definitive Certificate
(based on the VWAP (as defined in the Common Share Purchase Warrants or Pre-Funded Warrants) of the Common Shares on the Warrant
Certificate Request Notice Date), $10 per Business Day for each Business Day after such Warrant Certificate Delivery Date until such
Definitive Certificate is delivered or, prior to delivery of such Common Share Purchase Warrant Certificate or Pre-Funded Warrant
Certificate, the Holder rescinds such Warrant Exchange. The Warrant Agent shall have no liability for the Company’s failure to
deliver to the Holders the Definitive Certificates as set forth in this Section 3(c). The Company covenants and agrees that, upon
the date of delivery of the Warrant Certificate Request Notice, the Holder shall be deemed to be the holder of the Definitive
Certificate and, notwithstanding anything to the contrary set forth herein, the Definitive Certificate shall be deemed for all
purposes to contain all of the terms and conditions of the Common Share Purchase Warrants or Pre-Funded Warrants evidenced by such
Warrant Certificate and the terms of this Agreement, other than Sections 3(c), 3(d) and 9 herein, shall not apply to the Common
Share Purchase Warrants or Pre-Funded Warrants evidenced by the Definitive Certificate. Notwithstanding anything herein to the
contrary, the Company shall act as warrant agent with respect to any Definitive Certificate requested and issued pursuant to this
section and the Warrant Agent shall have no duty or obligations with respect to any Definitive Certificate or the Warrants and
Warrant Shares represented thereby. Notwithstanding anything to the contrary contained in this Agreement, in the event of
inconsistency between any provision in this Agreement and any provision in a Definitive Certificate, as it may from time to time be
amended, the terms of such Definitive Certificate shall control.

 

    4

     

    

 

(d)
A Holder of a Definitive Certificate (pursuant to a Warrant Exchange or otherwise) has the right to elect at any time or from time to
time a Global Warrants Exchange (as defined below) pursuant to a Global Warrants Request Notice (as defined below). Upon written notice
by a Holder to the Company for the exchange of some or all of such Holder’s Common Share Purchase Warrants or Pre-Funded Warrants
evidenced by a Definitive Certificate for a beneficial interest in Global Warrants held in book-entry form through the Depositary evidencing
the same number of Common Share Purchase Warrants or Pre-Funded Warrants, which request shall be in the form attached hereto as Exhibit
3 (a “Global Warrants Request Notice” and the date of delivery of such Global Warrants Request Notice by the Holder,
the “Global Warrants Request Notice Date” and the surrender upon delivery by the Holder of the Common Share Purchase
Warrants or Pre-Funded Warrants evidenced by Definitive Certificates for the same number of Common Share Purchase Warrants or Pre-Funded
Warrants evidenced by a beneficial interest in Global Warrants held in book-entry form through the Depositary, a “Global Warrants
Exchange”), the Company shall promptly effect the Global Warrants Exchange and shall promptly direct the Warrant Agent to issue
and deliver to the Holder Global Warrants for such number of Common Share Purchase Warrants or Pre-Funded Warrants in the Global Warrants
Request Notice, which beneficial interest in such Global Warrants shall be delivered by the Depositary’s
Deposit or Withdrawal at Custodian system to the Holder pursuant to the instructions in the Global Warrants Request Notice. In connection
with a Global Warrants Exchange, the Company shall direct the Warrant Agent to deliver the beneficial interest in such Global Warrants
to the Holder within ten (10) Business Days of the Global Warrants Request Notice pursuant to the delivery instructions in the Global
Warrant Request Notice (“Global Warrants Delivery Date”). If the Company fails for any reason to deliver to the Holder
Global Warrants subject to the Global Warrants Request Notice by the Global Warrants Delivery Date, the Company shall pay to the Holder,
in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares evidenced by such Global Warrants (based on the
VWAP (as defined in the Warrants) of the Common Shares on the Global Warrants Request Notice Date), $10 per Business Day for each Business
Day after such Global Warrants Delivery Date until such Global Warrants are delivered or, prior to delivery of such Global Warrants, the
Holder rescinds such Global Warrants Exchange. The Company covenants and agrees that, upon the date of delivery of the Global Warrants
Request Notice, the Holder shall be deemed to be the beneficial holder of such Global Warrants.

 

(e) The Company shall provide
to the Warrant Agent an opinion of counsel on or prior to the issuance of Warrants to set up a reserve of the Warrant Shares for the outstanding
Warrants. The opinion shall state that all Warrants or Warrant Shares, as applicable, are, (i) registered under the Securities Act of
1933, as amended, or are exempt from such registration, and all appropriate state securities law filings have been made with respect to
the Warrants or Warrant Shares, and (ii) the Warrant Shares, upon receipt of full payment therefor according to the terms of the Warrant,
will be validly issued, fully paid and non-assessable..

 

Section 4. Form of Warrant
Certificates. The Common Share Purchase Warrant Certificate and the Pre-Funded Warrant Certificate, together with the form of election
to purchase Common Shares (“Notice of Exercise”) and the form of assignment to be printed on the reverse thereof, shall
be substantially in the form of Exhibit 1 and Exhibit 2, respectively, hereto.

 

Section 5. Countersignature
and Registration. Each Global Warrant shall be executed on behalf of the Company by its Chief Executive Officer, Chief Financial Officer
or Vice President, by facsimile signature, and have affixed thereto the Company’s seal or a facsimile thereof which shall be attested
by the Secretary or an Assistant Secretary of the Company, by facsimile signature. Each Global Warrant shall be countersigned by the Warrant
Agent by facsimile signature and shall not be valid for any purpose unless so countersigned. In case any officer of the Company who shall
have signed any of the Global Warrant shall cease to be such officer of the Company before countersignature by the Warrant Agent and issuance
and delivery by the Company, such Global Warrant, nevertheless, may be countersigned by the Warrant Agent, issued and delivered with the
same force and effect as though the person who signed such Global Warrant had not ceased to be such officer of the Company; and any Global
Warrant may be signed on behalf of the Company by any person who, at the actual date of the execution of such Global Warrant, shall be
a proper officer of the Company to sign such Global Warrant, although at the date of the execution of this Warrant Agreement any such
person was not such an officer.

 

    5

     

    

 

The Warrant Agent will keep
or cause to be kept, at one of its offices, or at the office of one of its agents, books for registration and transfer of the Global Warrants
issued hereunder. Such books shall show the names and addresses of the respective Holders of the Global Warrant, the number of warrants
evidenced on the face of each of such Global Warrant and the date of each of such Global Warrant. The Warrant Agent will create a special
account for the issuance of Global Warrants. The Company will keep or cause to be kept at one of its offices, books for the registration
and transfer of any Definitive Certificates issued hereunder and the Warrant Agent shall not have any obligation to keep books and records
with respect to any Definitive Warrants. Such Company books shall show the names and addresses of the respective Holders of the Definitive
Certificates, the number of warrants evidenced on the face of each such Definitive Certificate and the date of each such Definitive Certificate.

 

Section 6. Transfer, Split
Up, Combination and Exchange of Warrant Certificates; Mutilated, Destroyed, Lost or Stolen Warrant Certificates. With respect to the
Global Warrants, subject to the provisions of the Common Share Purchase Warrant Certificate and the Pre-Funded Warrant Certificate and
the last sentence of this first paragraph of Section 6 and subject to applicable law, rules or regulations, or any “stop transfer”
instructions the Company may give to the Warrant Agent, at any time after the closing date of the Offering, and at or prior to the Close
of Business on the Termination Date (as such term is defined in the Common Share Purchase Warrant Certificate or the Pre-Funded Warrant
Certificate), any Global Warrant or Global Warrants may be transferred, split up, combined or exchanged for another Global Warrant or
Global Warrants, entitling the Holder to purchase a like number of Common Shares as the Global Warrant or Global Warrants surrendered
then entitled such Holder to purchase. Any Holder desiring to transfer, split up, combine or exchange any Global Warrant shall make such
request in writing delivered to the Warrant Agent, and shall surrender the Global Warrant to be transferred, split up, combined or exchanged
at the office of the Warrant Agent designated for such purpose. Any requested transfer of Common Share Purchase Warrants or Pre-Funded
Warrants, whether in book-entry form or certificate form, shall be accompanied by reasonable evidence of authority of the party making
such request that may be required by the Warrant Agent. Thereupon the Warrant Agent shall, subject to the last sentence of this first
paragraph of Section 6, countersign and deliver to the Person entitled thereto a Global Warrant or Global Warrants, as the case may be,
as so requested. The Company may require payment from the Holder of a sum sufficient to cover any tax or governmental charge that may
be imposed in connection with any transfer, split up, combination or exchange of Global Warrants and the Warrant Agent shall not have
any duty or obligation to take any action under any section of this Agreement that requires the payment of taxes and/or charges unless
and until it is satisfied that all such payments have been made. The Company shall compensate the Warrant Agent per the fee schedule mutually
agreed upon by the parties hereto and provided separately on the date hereof.

 

Upon receipt by the Warrant
Agent of evidence reasonably satisfactory to it and the Company of the loss, theft, destruction or mutilation of a Common Share Purchase
Warrant Certificate or the Pre-Funded Warrant Certificate, which evidence shall include an affidavit of loss, or in the case of mutilated
certificates, the certificate or portion thereof remaining, and, in case of loss, theft or destruction, of indemnity in customary form
and amount (but, with respect to any Definitive Certificates, shall not include the posting of any bond by the Holder) satisfactory to
the Warrant Agent and the Company, and satisfaction of any other reasonable requirements established by Section 8-405 of the Uniform Commercial
Code as in effect in the State of New York, and reimbursement to the Company and the Warrant Agent of all reasonable expenses incidental
thereto, and upon surrender to the Warrant Agent and cancellation of the Common Share Purchase Warrant Certificate or the Pre-Funded Warrant
Certificate if mutilated, the Company will make and deliver a new Common Share Purchase Warrant Certificate or the Pre-Funded Warrant
Certificate of like tenor to the Warrant Agent for delivery to the Holder in lieu of the Common Share Purchase Warrant Certificate or
the Pre-Funded Warrant Certificate so lost, stolen, destroyed or mutilated.

 

Section 7. Exercise of
Warrants; Exercise Price; Termination Date.

 

(a) The Common Share Purchase
Warrants or the Pre-Funded Warrants shall be exercisable commencing on the Initial Exercise Date. The Common Share Purchase Warrants or
the Pre-Funded Warrants shall cease to be exercisable and shall terminate and become void as set forth in the Common Share Purchase Warrant
Certificate or the Pre-Funded Warrant Certificate. Subject to the foregoing and to Section 7(b) below, the Holder of a Common Share Purchase
Warrant or the Pre-Funded Warrant may exercise the Common Share Purchase Warrant or the Pre-Funded Warrant in whole or in part upon surrender
of the Common Share Purchase Warrant Certificate or the Pre-Funded Warrant Certificate, if required, with the executed Notice of Exercise
and payment of the Exercise Price, which may be made, at the option of the Holder, by wire transfer or by certified or official bank check
in United States dollars, to the Warrant Agent at the office of the Warrant Agent designated for such purpose or to the office of one
of its agents as may be designated by the Warrant Agent from time to time. In the case of the Holder of a Global Warrant, the Holder shall
deliver the executed Notice of Exercise and the payment of the Exercise Price as described herein and Section 2(a) of the Common Share
Purchase Warrant Certificate or the Pre-Funded Warrant Certificate. Notwithstanding any other provision in this Agreement, a holder whose
interest in a Global Warrant is a beneficial interest in a Global Warrant held in book-entry form through the Depositary (or another established
clearing corporation performing similar functions), shall effect exercises by delivering to the Depositary (or such other clearing corporation,
as applicable) the appropriate instruction form for exercise, complying with the procedures to effect exercise that are required by the
Depositary (or such other clearing corporation, as applicable). 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. The Company hereby acknowledges and agrees
that, with respect to a holder whose interest in a Global Warrant is a beneficial interest in a Global Warrant held in book-entry form
through the Depositary (or another established clearing corporation performing similar functions), upon delivery of irrevocable instructions
to such holder’s Participant to exercise such warrants, that solely for purposes of Regulation SHO that such holder shall be deemed
to have exercised such warrants.

 

    6

     

    

 

(b) Upon receipt of a Notice
of Exercise for a cashless exercise pursuant to Section 2(c) of the Warrant (a “Cashless Exercise”) the Company will
promptly calculate and transmit to the Warrant Agent the number of Warrant Shares issuable in connection with such Cashless Exercise and
deliver a copy of the Notice of Exercise to the Warrant Agent, which shall issue such number of Warrant Shares in connection with such
Cashless Exercise. The Warrant Agent shall have no duty or obligation to investigate or confirm whether the Company’s determination
of the number of Warrant Shares to be issued on such exercise is accurate or correct.

 

(c) Upon the exercise of
the Common Share Purchase Warrant Certificate or the Pre-Funded Warrant Certificate pursuant to the terms of the Common Share Purchase
Warrant Certificate or the Pre-Funded Warrant Certificate, the Warrant Agent shall cause the Warrant Shares underlying such Common Share
Purchase Warrant Certificate or the Pre-Funded Warrant Certificate or Global Warrant to be delivered to or upon the order of the Holder
of such Common Share Purchase Warrant Certificate or the Pre-Funded Warrant Certificate or Global Warrant, registered in such name or
names as may be designated by such Holder, no later than the Warrant Share Delivery Date (as such term is defined in the Warrant Certificate).
If the Company is then a participant in the DWAC system of the Depositary 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 is being exercised via Cashless
Exercise, then the certificates for Warrant Shares shall be transmitted by the Warrant Agent to the Holder by crediting the account of
the Holder’s broker with the Depositary through its DWAC system. For the avoidance of doubt, if the Company becomes obligated to
pay any amounts to any Holders pursuant to Section 2(d)(i) or 2(d)(iv) of the Common Share Purchase Warrant Certificate or the Pre-Funded
Warrant Certificate, such obligation shall be solely that of the Company and not that of the Warrant Agent. Notwithstanding anything else
to the contrary in this Agreement, except in the case of a Cashless Exercise, if any Holder fails to duly deliver payment to the Warrant
Agent of an amount equal to the aggregate Exercise Price of the Warrant Shares to be purchased upon exercise of such Holder’s Common
Share Purchase Warrant or the Pre-Funded Warrant as set forth in Section 7(a) hereof by the Warrant Share Delivery Date, the Warrant Agent
will not obligated to deliver such Warrant Shares (via DWAC or otherwise) until following receipt of such payment, and the applicable
Warrant Share Delivery Date shall be deemed extended by one day for each day (or part thereof) until such payment is delivered to the
Warrant Agent.

 

(d) The Warrant Agent shall
deposit all funds received by it in payment of the Exercise Price for all Common Share Purchase Warrants or Pre-Funded Warrants as described
in Section 7(e) and shall advise the Company via email at the end of each day on which notices of exercise are received or funds for the
exercise of any Common Share Purchase Warrant or Pre-Funded Warrant are received of the amount so deposited to its account. The Warrant
Agent shall forward funds received for warrant exercises in a given month by the 5th business day of the following month by wire transfer
to an account designated by the Company.

 

(e)
All funds received by Computershare under this Agreement that are to be distributed or applied by Computershare in the performance of
services hereunder (the “Funds”) shall be held by Computershare as agent for the Company and deposited in one or more
bank accounts to be maintained by Computershare in its name as agent for the Company.  Until paid pursuant to the terms of this Agreement,
Computershare will hold the Funds through such accounts in: deposit accounts of commercial banks with Tier 1 capital exceeding $1 billion
or with an average rating above investment grade by S&P (LT Local Issuer Credit Rating), Moody’s (Long Term Rating) and Fitch
Ratings, Inc. (LT Issuer Default Rating) (each as reported by Bloomberg Finance L.P.).  Computershare shall have no responsibility
or liability for any diminution of the Funds that may result from any deposit made by Computershare in accordance with this Section
7(e), including any losses resulting from a default by any bank, financial institution or other third party.  Computershare
may from time to time receive interest, dividends or other earnings in connection with such deposits.  Computershare shall not be
obligated to pay such interest, dividends or earnings to the Company, any holder or any other party.

 

Section 8. Cancellation
and Destruction of Warrant Certificates. All Common Share Purchase Warrant Certificates or the Pre-Funded Warrant Certificates surrendered
for the purpose of exercise, transfer, split up, combination or exchange shall, if surrendered to the Company or to any of its agents,
be delivered to the Warrant Agent for cancellation or in canceled form, or, if surrendered to the Warrant Agent, shall be canceled by
it, and no Common Share Purchase Warrant Certificate or Pre-Funded Warrant Certificate shall be issued in lieu thereof except as expressly
permitted by any of the provisions of this Agreement. The Company shall deliver to the Warrant Agent for cancellation and retirement,
and the Warrant Agent shall so cancel and retire, any other Common Share Purchase Warrant Certificate or Pre-Funded Warrant Certificate
purchased or acquired by the Company otherwise than upon the exercise thereof. The Warrant Agent shall deliver all canceled Common Share
Purchase Warrant Certificate or Pre-Funded Warrant Certificate to the Company, or shall, at the written request of the Company, destroy
such canceled Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates, and in such case shall deliver a certificate
of destruction thereof to the Company, subject to any applicable law, rule or regulation requiring the Warrant Agent to retain such canceled
certificates.

 

    7

     

    

 

Section 9. Certain Representations;
Reservation and Availability of Common Shares or Cash.

 

(a) This Agreement has been
duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery hereof by the Warrant Agent,
constitutes a valid and legally binding obligation of the Company enforceable against the Company in accordance with its terms, and the
Warrants have been duly authorized, executed and issued by the Company and, assuming due authentication thereof by the Warrant Agent pursuant
hereto and payment therefor by the Holders as provided in the Registration Statement, constitute valid and legally binding obligations
of the Company enforceable against the Company in accordance with their terms and entitled to the benefits hereof; in each case except
as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium and other similar laws relating to or affecting
creditors’ rights generally or by general equitable principles (regardless of whether such enforceability is considered in a proceeding
in equity or at law).

 

(b) As of the date hereof,
the authorized capital stock of the Company consists of (i) an unlimited number of authorized Common Shares, of which approximately 5,351,695
Common Shares were issued and outstanding as of December 6, 2021 and [    ] Common Shares are reserved for issuance upon exercise of the
Common Share Purchase Warrants and the Pre-Funded Warrants. Except as disclosed in the Registration Statement, there are no other outstanding
obligations, warrants, options or other rights to subscribe for or purchase from the Company any class of capital stock of the Company.

 

(c) The Company covenants
and agrees that it will cause to be reserved and kept available out of its authorized and unissued Common Shares or its authorized and
issued Common Shares held in its treasury, free from preemptive rights, the number of Common Shares that will be sufficient to permit
the exercise in full of all outstanding Common Share Purchase Warrants and Pre-Funded Warrants.

 

(d) The Warrant Agent will
create a special account for the issuance of Common Shares upon the exercise of Common Share Purchase Warrants or Pre-Funded Warrants.

 

(e) The Company further
covenants and agrees that it will pay when due and payable any and all United States and/or Canadian federal and state/provincial transfer
taxes and charges which may be payable in respect of the original issuance or delivery of the Common Share Purchase Warrant Certificates
or Pre-Funded Warrant Certificates or certificates evidencing Common Shares upon exercise of the Warrants. Neither the Company nor the
Warrant Agent shall, however, be required to pay any tax or governmental charge which may be payable in respect of any transfer involved
in the transfer or delivery of Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates or the issuance or delivery
of certificates for Common Shares in a name other than that of the Holder of the Common Share Purchase Warrant Certificate or Pre-Funded
Warrant Certificate evidencing Common Share Purchase Warrants or Pre-Funded Warrants surrendered for exercise or to issue or deliver any
certificate for Common Shares upon the exercise of any Common Share Purchase Warrants or Pre-Funded Warrants until any such tax or governmental
charge shall have been paid (any such tax or governmental charge being payable by the Holder of such Common Share Purchase Warrant Certificate
or Pre-Funded Warrant Certificate at the time of surrender) or until it has been established to the Company’s and the Warrant Agent’s
reasonable satisfaction that no such tax or governmental charge is due.

 

Section 10. Common Share
Record Date. Each Person in whose name any certificate for Common Shares is issued (or to whose broker’s account is credited
Common Shares through the DWAC system) upon the exercise of Common Share Purchase Warrants or Pre-Funded Warrants shall for all purposes
be deemed to have become the holder of record for the Common Shares represented thereby on, and such certificate shall be dated, the date
on which submission of the Notice of Exercise was made, provided that the Common Share Purchase Warrant Certificate or Pre-Funded Warrant
Certificate evidencing such Common Share Purchase Warrant or Pre-Funded Warrant is duly surrendered (but only if required herein) and
payment of the Exercise Price (and any applicable transfer taxes) is received on or prior to the Warrant Share Delivery Date; provided,
however, that if the date of submission of the Notice of Exercise is a date upon which the Common Share transfer books of the Company
are closed, such Person shall be deemed to have become the record holder of such Common Shares on, and such certificate shall be dated,
the next succeeding day on which the Common Share transfer books of the Company are open.

 

    8

     

    

 

Section 11. Adjustment
of Exercise Price, Number of Common Shares or Number of Common Share Purchase Warrants or Pre-Funded Warrants. The Exercise Price,
the number of shares covered by each Common Share Purchase Warrant or Pre-Funded Warrant and the number of Common Share Purchase Warrants
or Pre-Funded Warrants outstanding are subject to adjustment from time to time as provided in Section 3 of the Common Share Purchase Warrant
Certificate or Pre-Funded Warrant Certificate. In the event that at any time, as a result of an adjustment made pursuant to Section 3
of the Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificate, the Holder of any Common Share Purchase Warrant or
Pre-Funded Warrant thereafter exercised shall become entitled to receive any shares of capital stock of the Company other than Common
Shares, thereafter the number of such other shares so receivable upon exercise of any Common Share Purchase Warrant or Pre-Funded Warrant
shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect
to the shares contained in Section 3 of the Common Share Purchase Warrant Certificate or Pre-Funded Warrant Certificate and the provisions
of Sections 7, 11 and 12 of this Agreement with respect to the Common Shares shall apply on like terms to any such other shares. All Common
Share Purchase Warrants or Pre-Funded Warrants originally issued by the Company subsequent to any adjustment made to the Exercise Price
pursuant to the Common Share Purchase Warrant Certificate or Pre-Funded Warrant Certificate shall evidence the right to purchase, at the
adjusted Exercise Price, the number of Common Shares purchasable from time to time hereunder upon exercise of the Common Share Purchase
Warrants or Pre-Funded Warrants, all subject to further adjustment as provided herein.

 

Section 12. Certification
of Adjusted Exercise Price or Number of Common Shares. Whenever the Exercise Price or the number of Common Shares issuable upon the
exercise of each Common Share Purchase Warrant or Pre-Funded Warrant is adjusted as provided in Section 11 or 13, the Company shall (a)
promptly prepare a certificate setting forth the Exercise Price of each Common Share Purchase Warrant or Pre-Funded Warrant as so adjusted,
and a brief statement of the facts accounting for such adjustment, (b) promptly file with the Warrant Agent and with each transfer agent
for the Common Shares a copy of such certificate and (c) instruct the Warrant Agent to send a brief summary thereof to each Holder of
a Common Share Purchase Warrant Certificate or Pre-Funded Warrant Certificate. The Warrant Agent shall be fully protected in relying on
any such certificate and on any adjustment or statement therein contained and shall have no duty or liability with respect to, and shall
not be deemed to have knowledge of any such adjustment or any such event unless and until it shall have received such certificate.

 

Section 13. Fractional
Common Shares.

 

(a) The Company shall not
issue fractions of Common Share Purchase Warrants or Pre-Funded Warrants or distribute Warrant Certificates which evidence fractional
Common Share Purchase Warrants or Pre-Funded Warrants. Whenever any fractional Common Share Purchase Warrant or Pre-Funded Warrant would
otherwise be required to be issued or distributed, the actual issuance or distribution shall reflect a rounding of such fraction to the
nearest whole Warrant (rounded up).

 

(b) The Company shall not
issue fractions of Common Shares upon exercise of Common Share Purchase Warrants or Pre-Funded Warrants or distribute stock certificates
which evidence fractional Common Shares. Whenever any fraction of a Common Share would otherwise be required to be issued or distributed,
the actual issuance or distribution in respect thereof shall be made in accordance with Section 2(d)(v) of the Common Share Purchase Warrant
Certificate or Pre-Funded Warrant Certificate.

 

Section 14. Conditions
of the Warrant Agent’s Obligations. The Warrant Agent accepts its obligations herein set forth upon the express terms and conditions
hereof, including the following to all of which the Company agrees and to all of which the rights hereunder of the Holders from time to
time of the Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates shall be subject:

 

		(a)	Compensation and Indemnification. The Company agrees promptly to pay the Warrant Agent the compensation
detailed on Exhibit 4 hereto for all services rendered by the Warrant Agent and to reimburse the Warrant Agent for reasonable out-of-pocket
expenses (including reasonable counsel fees) incurred without gross negligence or willful misconduct finally determined by a non-appealable
judgment of a court of competent jurisdiction to have been directly caused by the Warrant Agent in connection with the services rendered
hereunder by the Warrant Agent. The Company also agrees to indemnify the Warrant Agent for, and to hold it harmless against, any loss,
liability or expense incurred without gross negligence, or willful misconduct on the part of the Warrant Agent (in each case, as determined
by a final, non-appealable judgment of a court of competent jurisdiction) to have been directly caused by Warrant Agent hereunder, including
the reasonable costs and expenses of defending against any claim of such liability. The Warrant Agent shall be under no obligation to
institute or defend any action, suit, or legal proceeding in connection herewith or to take any other action likely to involve the Warrant
Agent in expense, unless first indemnified to the Warrant Agent’s satisfaction. The Warrant Agent’s indemnities, immunities
and protections provided by this Section 14 and Section 16 hereof shall survive the resignation or discharge of the Warrant Agent or the
termination of this Agreement. Anything in this Agreement to the contrary notwithstanding, in no event shall the Warrant Agent be liable
under or in connection with this Agreement for indirect, special, incidental, punitive or consequential losses or damages of any kind
whatsoever, including but not limited to lost profits, whether or not foreseeable, even if the Warrant Agent has been advised of the possibility
thereof and regardless of the form of action in which such damages are sought, and the Warrant Agent’s aggregate liability to the
Company, or any of the Company’s representatives or agents, under this Section 14(a) or under any other term or provision of this
Agreement, whether in contract, tort, or otherwise, is expressly limited to, and shall not exceed in any circumstances, one (1) year’s
fees received by the Warrant Agent as fees and charges under this Agreement, but not including reimbursable expenses previously reimbursed
to the Warrant Agent by the Company hereunder.

 

    9

     

    

 

		(b)	Agent for the Company. In acting under this Warrant Agreement and in connection with the Common
Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates, the Warrant Agent is acting solely as agent of the Company and
does not assume any obligations or relationship of agency or trust for or with any of the Holders of the Common Share Purchase Warrant
Certificates or Pre-Funded Warrant Certificates or beneficial owners of Common Share Purchase Warrants or Pre-Funded Warrants.

 

		(c)	Counsel. The Warrant Agent may consult with counsel satisfactory to it, which may include counsel
for the Company, and the written advice or opinion of such counsel shall be full and complete authorization and protection in respect
of any action taken, suffered or omitted by it hereunder in the absence of bad faith and in accordance with the advice or opinion of such
counsel.

 

		(d)	Documents. The Warrant Agent shall be protected and shall incur no liability for or in respect
of any action taken or omitted by it in reliance upon any Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificate,
notice, direction, consent, certificate, affidavit, statement or other paper or document reasonably believed by it to be genuine and to
have been presented or signed by the proper parties.

 

		(e)	Certain Transactions. The Warrant Agent, and its officers, directors and employees, may become
the owner of, or acquire any interest in, Common Share Purchase Warrants or Pre-Funded Warrants, with the same rights that it or they
would have if it were not the Warrant Agent hereunder, and, to the extent permitted by applicable law, it or they may engage or be interested
in any financial or other transaction with the Company and may act on, or as depositary, trustee or agent for, any committee or body of
Holders of Warrant Securities or other obligations of the Company as freely as if it were not the Warrant Agent hereunder. Nothing in
this Warrant Agreement shall be deemed to prevent the Warrant Agent from acting as trustee under any indenture to which the Company is
a party.

 

		(f)	No Liability for Interest. The Warrant Agent shall have no liability for interest on any monies
at any time received by it pursuant to any of the provisions of this Agreement or of the Common Share Purchase Warrant Certificates or
Pre-Funded Warrant Certificates.

 

		(g)	No Liability for Invalidity. The Warrant Agent shall have no liability with respect to any invalidity
of this Agreement or the Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates (except as to the Warrant Agent’s
countersignature thereon).

 

		(h)	No Responsibility for Representations. The Warrant Agent shall not be responsible for any of the
recitals or representations herein or in the Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates (except as
to the Warrant Agent’s countersignature thereon), all of which are made solely by the Company.

 

		(i)	No Implied Obligations. The Warrant Agent shall be obligated to perform only such duties as are
herein and in the Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates specifically set forth and no implied
duties or obligations shall be read into this Agreement or the Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates
against the Warrant Agent. The Warrant Agent shall not be under any obligation to take any action hereunder which may tend to involve
it in any expense or liability, the payment of which within a reasonable time is not, in its reasonable opinion, assured to it. The Warrant
Agent shall not be accountable or under any duty or responsibility for the use by the Company of any of the Common Share Purchase Warrant
Certificates or Pre-Funded Warrant Certificates authenticated by the Warrant Agent and delivered by it to the Company pursuant to this
Agreement or for the application by the Company of the proceeds of the Common Share Purchase Warrant Certificates or Pre-Funded Warrant
Certificate. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance of its covenants
or agreements contained herein or in the Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates or in the case
of the receipt of any written demand from a Holder of a Common Share Purchase Warrant Certificate or Pre-Funded Warrant Certificate with
respect to such default, including, without limiting the generality of the foregoing, any duty or responsibility to initiate or attempt
to initiate any proceedings at law.

 

    10

     

    

 

Section 15. Purchase or
Consolidation or Change of Name of Warrant Agent. Any Person into which the Warrant Agent or any successor Warrant Agent may be merged
or with which it may be consolidated, or any Person resulting from any merger or consolidation to which the Warrant Agent or any successor
Warrant Agent shall be party, or any Person succeeding to the shareholder services or corporate trust business of the Warrant Agent or
any successor Warrant Agent, shall be the successor to the Warrant Agent under this Agreement without the execution or filing of any paper
or any further act on the part of any of the parties hereto, provided that such Person would be eligible for appointment as a successor
Warrant Agent under the provisions of Section 17. In case at the time such successor Warrant Agent shall succeed to the agency created
by this Agreement any of the Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates shall have been countersigned
but not delivered, any such successor Warrant Agent may adopt the countersignature of the predecessor Warrant Agent and deliver such Common
Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates so countersigned; and in case at that time any of the Common Share
Purchase Warrant Certificates or Pre-Funded Warrant Certificates shall not have been countersigned, any successor Warrant Agent may countersign
such Warrant Certificates either in the name of the predecessor Warrant Agent or in the name of the successor Warrant Agent; and in all
such cases such Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates shall have the full force provided in the
Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates and in this Agreement.

 

In case at any time the name
of the Warrant Agent shall be changed and at such time any of the Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates
shall have been countersigned but not delivered, the Warrant Agent may adopt the countersignature under its prior name and deliver such
Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates so countersigned; and in case at that time any of the Common
Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates shall not have been countersigned, the Warrant Agent may countersign
such Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates either in its prior name or in its changed name; and
in all such cases such Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates shall have the full force provided
in the Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates and in this Agreement.

 

Section 16. Duties of Warrant
Agent. The Warrant Agent undertakes the duties and obligations imposed by this Agreement upon the following express terms and conditions,
by all of which the Company, by its acceptance hereof, shall be bound:

 

(a) The Warrant Agent may
consult with legal counsel reasonably acceptable to the Company (who may be legal counsel for the Company), and the opinion of such counsel
shall be full and complete authorization and protection to the Warrant Agent as to any action taken or omitted by it in good faith and
in accordance with such opinion.

 

(b) Whenever in the
performance of its duties under this Agreement the Warrant Agent shall deem it necessary or desirable that any fact or matter be
proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence
in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a certificate
signed by the Chief Executive Officer, Chief Financial Officer or Vice President of the Company; and such certificate shall be full
authentication to the Warrant Agent for any action taken or omitted to be taken in good faith by it under the provisions of this
Agreement in reliance upon such certificate.

 

(c) Subject to the limitation
set forth in Section 14, the Warrant Agent shall be liable hereunder only for its own gross negligence or willful misconduct or for a
breach of this Agreement (as determined by a final, non-appealable judgment of a court of competent jurisdiction).

 

(d) The Warrant Agent shall
not be liable for or by reason of any of the statements of fact or recitals contained in this Agreement or in the Common Share Purchase
Warrant Certificate or Pre-Funded Warrant Certificate (except its countersignature thereof) by the Company or be required to verify the
same, but all such statements and recitals are and shall be deemed to have been made by the Company only.

 

    11

     

    

 

(e) The Warrant Agent shall
not be under any responsibility in respect of the validity of this Agreement or the execution and delivery hereof (except the due execution
hereof by the Warrant Agent) or in respect of the validity or execution of any Common Share Purchase Warrant Certificate or Pre-Funded
Warrant Certificate (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or
condition contained in this Agreement or in any Common Share Purchase Warrant Certificate or Pre-Funded Warrant Certificate; nor shall
it be responsible for the adjustment of the Exercise Price or the making of any change in the number of Common Shares required under the
provisions of Section 11 or 13 or responsible for the manner, method or amount of any such change or the ascertaining of the existence
of facts that would require any such adjustment or change (except with respect to the exercise of the Common Share Purchase Warrants or
Pre-Funded Warrants evidenced by the Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates after actual notice
of any adjustment of the Exercise Price); nor shall it by any act hereunder be deemed to make any representation or warranty as to the
authorization or reservation of any Common Shares to be issued pursuant to this Agreement or any Warrant Certificate or as to whether
any Common Shares will, when issued, be duly authorized, validly issued, fully paid and nonassessable.

 

(f) Each party hereto agrees
that it will perform, execute, acknowledge and deliver or cause to be performed, executed, acknowledged and delivered all such further
and other acts, instruments and assurances as may reasonably be required by the other party hereto for the carrying out or performing
by any party of the provisions of this Agreement.

 

(g) The Warrant Agent is
hereby authorized to accept instructions with respect to the performance of its duties hereunder from the Chief Executive Officer, Chief
Financial Officer or Vice President of the Company, and to apply to such officers for advice or instructions in connection with its duties,
and it shall not be liable and shall be indemnified and held harmless for any action taken or omitted to be taken by it in good faith
in accordance with such instructions with instructions of such officer, provided that the Warrant Agent performs such instructions without
gross negligence or willful misconduct (as determined by a final, non-appealable judgment of a court of competent jurisdiction).

 

(h) The Warrant Agent and
any shareholder, director, officer or employee of the Warrant Agent may buy, sell or deal in any of the Common Share Purchase Warrants
or Pre-Funded Warrants or other securities of the Company or become pecuniarily interested in any transaction in which the Company may
be interested, or contract with or lend money to the Company or otherwise act as fully and freely as though it were not Warrant Agent
under this Agreement. Nothing herein shall preclude the Warrant Agent from acting in any other capacity for the Company or for any other
legal entity.

 

(i) The Warrant Agent may
execute and exercise any of the rights or powers hereby vested in it or perform any duty hereunder either itself or by or through its
attorney or agents, and the Warrant Agent shall not be answerable or accountable for any act, default, neglect or misconduct of any such
attorney or agents or for any loss to the Company resulting from any such act, default, neglect or misconduct, absent bad faith, gross
negligence or willful misconduct (each as determined by a final, non-appealable judgment of a court of competent jurisdiction) in the
selection and continued employment thereof.

 

Section 17. Change of Warrant
Agent. The Warrant Agent may resign and be discharged from its duties under this Agreement upon 30 days’ notice in writing sent
to the Company and to each transfer agent of the Common Shares, and to the Holders of the Common Share Purchase Warrant Certificates or
Pre-Funded Warrant Certificates. The Company may remove the Warrant Agent or any successor Warrant Agent upon 30 days’ notice in
writing, sent to the Warrant Agent or successor Warrant Agent, as the case may be, and to each transfer agent of the Common Shares, and
to the Holders of the Common Share Purchase Warrant Certificates and Pre-Funded Warrant Certificates. If the Warrant Agent shall resign
or be removed or shall otherwise become incapable of acting, the Company shall appoint a successor to the Warrant Agent. If the Company
shall fail to make such appointment within a period of 30 days after such removal or after it has been notified in writing of such resignation
or incapacity by the resigning or incapacitated Warrant Agent or by the Holder of a Common Share Purchase Warrant Certificate or Pre-Funded
Warrant Certificate (who shall, with such notice, submit his Common Share Purchase Warrant Certificate or Pre-Funded Warrant Certificate
for inspection by the Company), then the Holder of any Common Share Purchase Warrant Certificate or Pre-Funded Warrant Certificate may
apply to any court of competent jurisdiction for the appointment of a new Warrant Agent, provided that, for purposes of this Agreement,
the Company shall be deemed to be the Warrant Agent until a new warrant agent is appointed. Any successor Warrant Agent, whether appointed
by the Company or by such a court, shall be a Person (other than a natural person) organized and doing business under the laws of the
United States or of a state thereof or of Canada, in good standing, which is authorized under such laws to exercise shareholder services
or corporate trust powers and is subject to supervision or examination by federal or state authority and which has at the time of its
appointment as Warrant Agent a combined capital and surplus (together with its Affiliates) of at least $50,000,000. After appointment,
the successor Warrant Agent shall be vested with the same powers, rights, duties and responsibilities as if it had been originally named
as Warrant Agent without further act or deed; but the predecessor Warrant Agent shall deliver and transfer to the Company or the successor
Warrant Agent, as the case may be, any property at the time held by it hereunder, and execute and deliver any further assurance, conveyance,
act or deed necessary for the purpose. Not later than the effective date of any such appointment, or assumption of the Warrant Agent’s
role by the Company, the Company shall file notice thereof in writing with the predecessor Warrant Agent and each transfer agent of the
Common Shares, and mail a notice thereof in writing to the Holders of the Common Share Purchase Warrant Certificates or Pre-Funded Warrant
Certificates. However, failure to give any notice provided for in this Section 17, or any defect therein, shall not affect the legality
or validity of the resignation or removal of the Warrant Agent or the appointment of the successor Warrant Agent, as the case may be.

 

    12

     

    

 

Section 18. Issuance of
New Warrant Certificates. Notwithstanding any of the provisions of this Agreement or of the Common Share Purchase Warrants or Pre-Funded
Warrants to the contrary, the Company may, at its option, issue new Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates
evidencing Common Share Purchase Warrants or Pre-Funded Warrants in such form as may be approved by its Board of Directors to reflect
any adjustment or change in the Exercise Price per share and the number or kind or class of shares of stock or other securities or property
purchasable under the several Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates made in accordance with the
provisions of this Agreement.

 

Section 19. Notices.
Notices or demands authorized by this Agreement to be given or made (i) by the Warrant Agent or by the Holder of any Common Share Purchase
Warrant Certificate or Pre-Funded Warrant Certificate to or on the Company, (ii) subject to the provisions of Section 17, by the Company
or by the Holder of any Common Share Purchase Warrant Certificate or Pre-Funded Warrant Certificate to or on the Warrant Agent or (iii)
by the Company or the Warrant Agent to the Holder of any Common Share Purchase Warrant Certificate or Pre-Funded Warrant Certificate shall
be deemed given (a) on the date delivered, if delivered personally, (b) on the first Business Day following the deposit thereof with Federal
Express or another recognized overnight courier, if sent by Federal Express or another recognized overnight courier, (c) on the fourth
Business Day following the mailing thereof with postage prepaid, if mailed by registered or certified mail (return receipt requested),
and (d) the date of transmission, if such notice or communication is delivered via facsimile or email attachment at or prior to 5:30 p.m.
(New York City time) on a Business Day and (e) the next Business Day after the date of transmission, if such notice or communication is
delivered via facsimile or email attachment on a day that is not a Business Day or later than 5:30 p.m. (New York City time) on any Business
Day, in each case to the parties at the following addresses (or at such other address for a party as shall be specified by like notice):

 

		(a)	If to the Company, to:

 

Siyata Mobile
Inc.

1001 Lenoir St
Suite A-414

Montreal, QC H4C
2Z6

Canada

Attn: Gerald Bernstein,
Chief Financial Officer

 

		(b)	If to the Warrant Agent, to:

 

Computershare Inc.

Computershare Trust Company, N.A.

150 Royall Street

Canton, MA 02021

Attn: Client Services

 

For any notice delivered by email to be deemed
given or made, such notice must be followed by notice sent by overnight courier service to be delivered on the next business day following
such email, unless the recipient of such email has acknowledged via return email receipt of such email.

 

(c) If to the Holder of
any Common Share Purchase Warrant Certificate or Pre-Funded Warrant Certificate to the address of such Holder as shown on the registry
books of the Company. Any notice required to be delivered by the Company to the Holder of any Common Share Purchase Warrant or Pre-Funded
Warrant may be given by the Warrant Agent on behalf of the Company. Notwithstanding any other provision of this Agreement, where this
Agreement provides for notice of any event to a Holder of any Common Share Purchase Warrant or Pre-Funded Warrant such notice shall be
sufficiently given if given to the Depositary (or its designee) pursuant to the procedures of the Depositary or its designee.

  

Section 20. Supplements
and Amendments.

 

(a) The Company and the
Warrant Agent may from time to time supplement or amend this Agreement or any Global Warrant without the approval of any Holders of Global
Warrants in order to add to the covenants and agreements of the Company for the benefit of the Holders of the Global Warrants or to surrender
any rights or power reserved to or conferred upon the Company in this Agreement, provided that such addition or surrender shall not adversely
affect the interests of the Holders of the Global Warrants in any material respect.

 

    13

     

    

 

(b) In addition to the foregoing,
with the consent of Holders of Global Warrants entitled, upon exercise thereof, to receive not less than a majority of the Warrant Shares
issuable thereunder, the Company and the Warrant Agent may modify this Agreement or any Global Warrant for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of this Warrant Agreement or modifying in any manner the rights of the
Holders of the Global Warrants; provided, however, that no modification of the terms (including but not limited to the adjustments
described in Section 11) upon which the Global Warrants are exercisable or the rights of holders of Global Warrants to receive liquidated
damages or other payments in cash from the Company or reducing the percentage required for consent to modification of this Agreement may
be made without the consent of the Holder of each outstanding Common Share Purchase Warrant Certificate or Pre-Funded Warrant Certificate
affected thereby; provided further, however, that no amendment hereunder shall affect any terms of any Common Share Purchase
Warrant Certificate or Pre-Funded Warrant Certificate issued in a Warrant Exchange. As a condition precedent to the Warrant Agent’s
execution of any amendment, the Company shall deliver to the Warrant Agent a certificate from a duly authorized officer of the Company
that states that the proposed amendment complies with the terms of this Section 20. Notwithstanding anything in this Agreement to the
contrary, the Warrant Agent shall not be required to execute any supplement or amendment to this Agreement or any Warrant that it has
determined would adversely affect its own rights, duties, obligations or immunities under this Agreement. No supplement or amendment to
this Agreement or any Global Warrant shall be effective unless duly executed by the Warrant Agent and the Company.

  

Section 21. Successors.
All covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure to the benefit
of their respective successors and assigns hereunder.

 

Section 22. Benefits of
this Agreement. Nothing in this Agreement shall be construed to give any Person other than the Company, the Holders of Common Share
Purchase Warrant Certificates or Pre-Funded Warrant Certificates and the Warrant Agent any legal or equitable right, remedy or claim under
this Agreement. This Agreement shall be for the sole and exclusive benefit of the Company, the Warrant Agent and the Holders of the Common
Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates. Notwithstanding anything to the contrary contained herein, to
the extent any provision of a Common Share Purchase Warrant Certificate or a Pre-Funded Warrant Certificate conflicts with any provision
of this Agreement, the provisions of this Agreement shall govern and be controlling with respect to the rights, duties, obligations and
immunities of the Warrant Agent.

 

Section 23. Governing Law.
This Agreement and each Warrant Certificate and Global Warrant issued hereunder shall be governed by, and construed in accordance with,
the laws of the State of New York, United States of America, without giving effect to the conflicts of law principles thereof.

 

Section 24. Counterparts.
This Agreement may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original,
and all such counterparts shall together constitute but one and the same instrument.

 

Section 25. Captions.
The captions of the sections of this Agreement have been inserted for convenience only and shall not control or affect the meaning or
construction of any of the provisions hereof.

 

Section 26. Information.
The Company agrees to promptly provide to the Holders of the Common Share Purchase Warrants or Pre-Funded Warrants any information it
provides to the holders of the Common Shares, except to the extent any such information is publicly available on the EDGAR system (or
any successor thereof) of the Securities and Exchange Commission.

 

Section 27. Force Majeure.
Notwithstanding anything to the contrary contained herein or in any Warrant Certificate, the Warrant Agent shall not be liable for any
delays or failures in performance resulting from acts beyond its reasonable control including, without limitation, extreme weather events,
terrorist acts, pandemics, epidemics, shortage of supply, breakdowns or malfunctions, interruptions or malfunctions of any utilities,
communications, or computer facilities, or loss of data due to power failures or mechanical difficulties with information storage or retrieval
systems, labor difficulties, war or civil unrest. Notwithstanding the above, the Warrant Agent shall take all industry standard measures
to protect Company and Warrant holders data and personal information in connection with its performance under this Agreement. All right,
title and interest to Company data shall belong to the Company and Warrant Agent has no intellectual property rights, license or other
claim to Company data or data relating to holders of the Warrants that is hosted, stored, or transferred to and from the computer systems
hosted by the Warrant Agent or its contractors.

 

Section 28. Confidentiality.
The Warrant Agent and the Company agree that all books, records, information and data pertaining to the business of the other party,
including inter alia, personal, non-public warrant holder information, which are exchanged or received pursuant to the negotiation or
the carrying out of this Agreement including the fees for services set forth in the attached Schedule 4 shall remain confidential, and
shall not be voluntarily disclosed to any other Person, except as may be required by law, including, without limitation, pursuant to
the rules and regulations of the Securities and Exchange Commission, subpoenas from state or federal government authorities (e.g., in
divorce and criminal actions).

 

[Signature Page Follows]

 

    14

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be duly executed as of the day and year first above written.

 

	 	SIYATA MOBILE INC.

 

	 	By:	 
	 	 	Name: Marc Seelenfreund
	 	 	Title: Chief Executive Officer

 

	 	By:	
	 	 	Name: Gerald Bernstein
	 	 	Title: Chief Financial Officer

 

	 	COMPUTERSHARE INC. and
	 	COMPUTERSHARE TRUST COMPANY, N.A., for both entities

 

	 	By:	 
	 	 	Name:
	 	 	Title:

 

    15

     

    

 

Exhibit 1

 

Form of Common Share Purchase Warrant Certificate

 

     

     

    

 

Exhibit 2

 

Form of Pre-Funded Warrant

 

     

     

    

 

Exhibit 3

 

Form of Warrant Certificate Request Notice

 

WARRANT CERTIFICATE REQUEST NOTICE

 

To: Computershare Inc. and Computershare
Trust Company, N.A., jointly, as Warrant Agent for Siyata Mobile Inc. (the “Company”)

 

The undersigned Holder of [Common Share
Purchase Warrants (“Common Share Purchase Warrants”)] [Pre-Funded Warrants (“Pre-Funded Warrants”)]
in the form of Global Warrants issued by the Company hereby elects to receive a [Common Share Purchase Warrant Certificate (“Common
Share Purchase Warrant Certificate”)] [Pre-Funded Warrant Certificate (“Pre-Funded Warrant Certificate”)] evidencing
the Warrants held by the Holder as specified below:

 

		1.	Name of Holder of [Common Share Purchase Warrants] [Pre-Funded
Warrants] in form of Global Warrants: _____________________________

 

		2.	Name of Holder in [Common Share Purchase Warrant Certificate]
[Pre-Funded Warrant Certificate] (if different from name of Holder of [Common Share Purchase Warrant Certificate] [Pre-Funded Warrant
Certificate] in form of Global Warrants): ________________________________

 

		3.	Number of [Common Share Purchase Warrants] [Pre-Funded Warrants]
in name of Holder in form of Global Warrants: ___________________

 

		4.	Number of [Common Share Purchase Warrants] [Pre-Funded Warrants] for which [Common Share Purchase Warrant Certificate] [Pre-Funded
Warrant Certificate] shall be issued: __________________

 

		5.	Number of [Common Share Purchase Warrants] [Pre-Funded Warrants] in name of Holder in form of Global Warrants
after issuance of [Common Share Purchase Warrant Certificate] [Pre-Funded Warrant Certificate], if any: ___________

 

		6.	[Common Share Purchase Warrant Certificate] [Pre-Funded Warrant Certificate] shall be delivered to the following address:

 

______________________________

 

______________________________

 

______________________________

 

______________________________

 

The undersigned hereby acknowledges
and agrees that, in connection with this Warrant Exchange and the issuance of the [Common Share Purchase Warrant Certificate] [Pre-Funded
Warrant Certificate], the Holder is deemed to have surrendered the number of [Common Share Purchase Warrants] [Pre-Funded Warrants] in
form of Global Warrants in the name of the Holder equal to the number of [Common Share Purchase Warrants] [Pre-Funded Warrants] evidenced
by the [Common Share Purchase Warrant Certificate] [Pre-Funded Warrant Certificate].

 

[SIGNATURE OF HOLDER]

 

Name of Investing Entity: ____________________________________________________

 

Signature of Authorized Signatory of Investing Entity:
______________________________

 

Name of Authorized Signatory: ________________________________________________

 

Title of Authorized Signatory: _________________________________________________

 

Date: _______________________________________________________________

 

     

     

    

 

Exhibit 3

 

Form of Global Warrant Request Notice

 

GLOBAL WARRANT REQUEST NOTICE

 

To: Computershare Inc. and Computershare
Trust Company, N.A., jointly, as Warrant Agent for Siyata Mobile Inc. (the “Company”)

 

The undersigned Holder of [Common Share
Purchase Warrants [(“Common Share Purchase Warrants”)] / [Pre-Funded Warrants (“Pre-Funded Warrants”)]
in the form of [Common Share Purchase Warrant Certificates (“Common Share Purchase Warrant Certificates”)] / [Pre-Funded Warrant
Certificates (“Pre-Funded Warrant Certificates”)] issued by the Company hereby elects to receive a Global Warrant evidencing
the [Common Share Purchase Warrants] / [Pre-Funded Warrants] held by the Holder as specified below:

 

		1.	Name of Holder of [Common Share Purchase Warrants] / [Pre-Funded Warrants] in form of [Common Share Purchase
Warrant Certificates] / [Pre-Funded Warrant Certificates]: _____________________________

 

		2.	Name of Holder in Global Warrant (if different from name of Holder of [Common Share Purchase Warrants] / [Pre-Funded Warrants]
in form of [Common Share Purchase Warrant Certificates] / [Pre-Funded Warrant Certificates]: ________________________________

 

		3.	Number of [Common Share Purchase Warrants] / [Pre-Funded Warrants] in name of Holder in form of [Common Share Purchase Warrant
Certificates] / [Pre-Funded Warrant Certificates]: ___________________

 

		4.	Number of [Common Share Purchase Warrants] / [Pre-Funded Warrants] for which Global Warrant shall be issued: __________________

 

		5.	Number of [Common Share Purchase Warrants] / [Pre-Funded Warrants] in name of Holder in form of
[Common Share Purchase Warrant Certificates] / [Pre-Funded Warrant Certificates] after issuance of Global Warrant, if any:
___________

 

		6.	Global Warrant shall be delivered to the following address:

 

______________________________

 

______________________________

 

______________________________

 

______________________________

 

The undersigned
hereby acknowledges and agrees that, in connection with this Global Warrant Exchange and the issuance of the Global Warrant, the Holder
is deemed to have surrendered the number of [Common Share Purchase Warrants] / [Pre-Funded Warrants] in form of [Common Share
Purchase Warrant Certificates] / [Pre-Funded Warrant Certificates] in the name of the Holder equal to the number of [Common
Share Purchase Warrants] / [Pre-Funded Warrants] evidenced by the Global Warrant.

 

[SIGNATURE OF HOLDER]

 

Name of Investing Entity: ____________________________________________________

 

Signature of Authorized Signatory of Investing Entity:
______________________________

 

Name of Authorized Signatory: ________________________________________________

 

Title of Authorized Signatory: _________________________________________________

 

Date: _______________________________________________________________

 

     

     

    

 

Exhibit 4

 

Warrant Agent Fee Schedule

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