Document:

Exhibit 10.13

Exhibit 10.13

PROMISSORY NOTE

		
	$600,000.00

	Denver, Colorado

	 
	October 21, 2014

FOR VALUE RECEIVED, the undersigned 6565 E. EVANS OWNER, LLC, a Colorado limited liability company (herein referred to as "Maker"), promises to pay to the order of EVANS STREET LENDCO, LLC, a Colorado limited liability company, ("Lender") at 19 Fulton Street, Suite 301, New York, NY 10038, or any such other place as Holder shall from time to time designate, the principal sum of Six Hundred Thousand and no/100 Dollars (U.S. $600,000.00), in good funds, together with all subsequent advances made, expenditures authorized and additional payments provided for in this Promissory Note, and any other document executed as security for this Promissory Note, all of which shall constitute the “Principal Indebtedness,” plus interest on the full amount outstanding, at the interest rate set forth below, until repaid in full in accordance with the terms hereof. 

Interest shall accrue on the unpaid balance from the date hereof at the rate of Fourteen (14.00%) percent per annum. 

Maker promises to repay this Note as follows: 

A.

Monthly installment payments equal to accrued monthly interest only beginning July 1, 2015; 

B.

If not sooner paid, all principal and any accrued but unpaid interest shall be due and payable in full on the 21st day of October, 2016; and 

C.

This Note may be prepaid in full or in part without penalty except Maker shall be required to pay an amount equal to at least one year of accrued interest if this Note is paid in full prior to October 21, 2015. 

The Maker agrees to pay on demand any expenditures made by the Lender in connection with this Note, including but not limited to, the following: bank charges, accounting fees, taxes (excluding income taxes), special assessments, insurance premiums, cost of maintenance and preservation of the property which is security for this Note, and attorneys’ fees in connection with any matter pertaining hereto and/or the security pledged for the repayment of this indebtedness and any other charges related to loan of funds hereunder. All such expenditures shall be added to the unpaid balance of this Promissory Note and become a part of and on a parity with the principal indebtedness secured by any security instrument or other instrument executed herewith and shall accrue interest at the rate as may be payable from time-to-time on the original principal indebtedness as computed in the foregoing manner. 

All interest accruing under the terms of this Note shall be computed on the basis of a three hundred sixty (360) day year. Interest shall accrue hereunder beginning on the date hereof on a daily compounded basis, and shall accrue up to and including the date of repayment. Payments shall be credited on the day actually received by the Lender if received at or before 10:00 o’clock a.m. on any business day. In the event payment is received by the Lender after 10:00 o’clock a.m. on any business day, interest shall continue to accrue up to and including the next business day. In the event payment is received by the Lender on any Saturday, Sunday, or state or national holiday, interest shall continue to accrue through the next business day following the date of receipt of payment. 

Payments, when made, first shall be applied to any damages, penalties, fees, costs, or other charges accrued and payable pursuant to this Note or any security instrument or other instrument executed herewith, then to all accrued interest to date of payment, and then to the payment of principal hereunder. 

At the option of the Lender of this Note, the payment of all principal, interest, and all other sums due and owing in accordance with the terms of this Note or pursuant to the Deed of Trust or other documents securing this Note will be accelerated and such principal, interest and other amounts shall be immediately due and payable, without notice of demand as provided herein, upon the occurrence of the following events: 

1.

Failure of Maker to make any payment required hereunder or under any security or other instrument securing this Note or any security instrument or other instrument executed herewith when the same is due; 

2.

Failure of Maker to cure any default in the performance or observance of any non-monetary term, covenant, condition or obligation contained in this Note, or any security instrument or other instrument executed herewith, within twenty (20) days of the mailing of written notice of default by the Lender to Maker at the Maker’s address as specified in the Deed of Trust; 

3.

Failure of the Maker to keep current all real, personal, regular and specific taxes and assessments as the same may become due, for so long as there is any principal balance due hereunder, that are associated with any collateral which is security for this loan; 

4.

Failure of Maker to provide Lender any additional documents deemed necessary by Lender at any time on or after the closing of this loan as the same may be required by Lender, to include but not limited to: tax returns, financial statements, property appraisals, addition of Lender as Loss Payee for property insurance, etc.; 

5.

If any representation or warranty contained herein or in any security instrument or other instrument executed herewith or any representation to the Lender concerning the financial condition or credit standing of either the Maker or any surety, guarantor or endorser proves to be materially false or misleading; 

6.

Death of any Maker; 

7.

Insolvency, business failure, attachment or garnishment, appointment of a receiver for any part of property pledged as security for this Note, or the making of an assignment for the benefit of any creditors by, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against the Maker, or any surety, endorser or guarantor hereof; 

8.

Any default under any Deed of Trust, Security Agreement, Assignment of Rents, or similar document relating to collateral which provides security for the payment of this Note, whether or not such document relates to this loan transaction; 

9.

Any claim or lien shall be filed against the Property or any part thereof and such lien is not released or bonded within 30 days of the date of its recording; 

10.

Any default under any other loan by Lender to any maker, endorser or guarantor hereof. 

Time is of the essence hereof and all obligations hereunder shall be timely performed in accordance with the provisions hereof. 

From and after the maturity of this Note, whether by acceleration or otherwise, or from the occurrence of an event of default until such default is cured, the entire amount of the principal, interest and any other amount remaining unpaid under this Note shall bear interest at the annual rate of twenty eight percent (28%) (the “Default Rate”). 

The Maker recognizes that default in making of any payment required herein when due will result in the Lender incurring additional expenses and the loss to the lender of the use of the moneys due. The Maker agrees that, if for any reason the Lender fails to receive any payment, indemnification or reimbursement required by this note or any security instrument or other instrument executed herewith within five (5) days of the date on which the same is due, including the payment due on the maturity date, the Lender shall be entitled to damages for the detriment caused thereby in addition to any other interest, damages, penalties, fees or costs provided for herein, and that a sum equal to fifteen percent (15%) of such delinquent payment is a reasonable estimate of such damages, which sum Makers agree to pay to the Lender on demand as liquidated damages for such delinquency. 

No delay or omission on the part of the Lender hereof in exercising any right hereunder shall operate as a waiver or such right or remedy, or any additional right or remedy or in any future occasion. 

It is not Lender’s or Maker’s intention or desire to breach any applicable usury or maximum finance charge or interest rate statute. Therefore, if any interest rate, penalty, fee or cost provided for herein, or in any security instrument or other instrument executed herewith securing this Note, or otherwise paid by Maker in connection with this loan transaction, shall exceed that which is allowed pursuant to any applicable statute or law, said amount shall be deemed by the parties hereto to be modified so as to conform to and equal the maximum amount allowed by such statute or law. It is specifically agreed by the parties hereto that all amounts paid hereunder which are to be considered as interest under applicable usury statutes shall be averaged over the full term of the loan for the purpose of computing whether or not such charges exceed the maximum rate if permitted under applicable law. All sums paid hereunder in excess of those lawfully collectible as interest, penalties, fees or costs, shall, without further agreement or notice be applied toward reduction of the principal hereof as if such extra sums were specifically designated to be so applied to principal and Lender had agreed to accept such extra payment as a prepayment, or if there is not outstanding principal indebtedness owed to Lender by Makers hereunder, or if such outstanding principal indebtedness is less than the amount to be applied to a reduction, such excess shall be refunded by the Lender to the Maker. 

If the Lender employs an attorney for advice regarding any actual default under this Promissory Note, or for any other purpose under this Promissory Note or any security instrument or other instrument executed herewith, Makers agree to pay upon demand the reasonable attorneys’ fees plus costs incurred in connection therewith, including interest thereon, at the Default Rate. In addition, Lender shall be entitled to recover from Makers any and all attorneys’ fees incurred by the Lender in collection efforts, before and after judgment in any court of law, including but not limited to attorneys’ fees incurred in connection with execution of any such judgment. 

If any provisions hereof are in conflict with any applicable statute or law and are determined to be not valid or enforceable, each such provision shall be deemed null and void, but to the extent of such a conflict only, and without invalidating or affecting the remaining provisions hereof. 

Maker waives any and all Homestead exemptions and/or rights to claims a Homestead exemption under the laws of the State of Colorado or any other state in which Maker’s principal residence may be located, and such waiver shall be effective so long as any amount shall remain unpaid hereunder. 

Maker hereby waive any right to trial by jury in any action arising out of, or based hereon, this Promissory Note or the collateral securing it. 

The indebtedness owning hereunder is secured by a Deed of Trust encumbering the property legally described as follows (the “Property”): 

See Exhibit “A” attached hereto and incorporated by this reference 

also known and numbered as: 6565 East Evans Avenue, Denver, CO 80224 

All costs and expenses incidental to the preparation and recording of any Releases of Deed of Trust as well as all other documents which may be necessary to release any other property which serves as collateral for this loan, will be the responsibility of Maker and added to the Principal Indebtedness. Lender will execute said documents upon this Note being paid in full. 

All payments required to be made hereunder shall be made in United States currency, and at the option of the Lender shall be made by tender of funds Available For Immediate Withdrawal As a Matter of Right, as the same are defined under the provisions of Section 38-35-125, C.R.S. 

Presentment for payment, notice of dishonor, protest and notice of protest are hereby waived by the Makers and by any other person who may be at any time become liable, in whole or in part under this Note. 

This Note may not be amended or modified except by an instrument signed in writing expressing such intention and executed by the parties sought to be bound thereby. 

MAKERS: 

6565 E. EVANS OWNER, LLC, 

a Colorado limited liability company 

	
	 

	By:

	Its:

		
	STATE OF

	}

	COUNTY OF

	}SS.

The foregoing instrument was acknowledged before me this         day of October, 2014 by                                          as of                                           6565 E. Evans Owner, LLC, a Colorado limited liability company. 

Witness my official hand and seal. 

My commission expires: 

		
	 
	 

	 
	Notary PublicExhibit 10.14

Exhibit 10.14

NEITHER THIS WARRANT NOR THE SECURITIES FOR WHICH THIS WARRANT IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.  

		
	Warrant No. A-1

	Issue Date: October 21, 2014

ADVANCED CANNABIS SOLUTIONS, INC.

WARRANT

TO PURCHASE SHARES OF COMMON STOCK

 

THIS WARRANT (the “Warrant”) certifies that, for value received, Evans Street Lendco,
LLC or its assigns (the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date hereof (the “Initial Exercise Date”) and on or prior to the close of business of the twenty fourth (24th) month after the Initial Exercise Date (the “Expiration Date”) but not thereafter, to subscribe for and purchase from Advanced Cannabis, Inc., a Colorado corporation (the “Company”), up to 600,000 shares (as subject to adjustment hereunder, the “Warrant Shares”) of the Company’s no par value common stock, (“Common Stock”).  The purchase price of one share of Common Stock under this Warrant shall be equal to $4.40 (“Purchase Price”), subject to adjustment hereunder (the “Exercise Price”).  

1.

The Holder may exercise this Warrant, in whole or in part, upon surrender of this Warrant, with the exercise form annexed hereto duly executed, at the office of the Company, or such other office as the Company shall notify the Holder in writing, together with a certified or bank cashier's check payable to the order of the Company in the amount of the Purchase Price multiplied by the number of shares of Common Stock being purchased.

2.

“Principal Market” shall include the NYSE MKT, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange or the OTC Bulletin Board (or any successors to any of the foregoing) (whichever is at the time the principal trading exchange or market for the Common Stock), or any securities exchange or other securities market on which the Common Stock is then being listed, quoted or traded.  The Company will from time to time take all action which may be necessary so that the Warrant Shares, immediately upon their issuance upon the exercise of the Warrant, will be listed on the Principal Market on which other shares of Common Stock are then listed, if any.

After six (6) months have elapsed from the date of this Warrant, if the Company proposes to register any of its securities under the Securities Act in connection with the public offering of such securities solely for cash (other than the Company’s initial public offering or a registration relating solely to the offer and sale of non-convertible, the Company’s current registration statement on Form S-1 indicated as registration number 333-193890,  non-exchangeable debt securities or a registration on Form S-4 or Form S-8, or any successor or similar forms) (a “Piggyback Registration”), whether for the account of the Company or otherwise, it will include all Registrable Securities (as hereinafter defined) in such registration statement and give written notice to each registered Holder.  The Company will use its best efforts to effect the registration under the Securities Act of all of the Registrable Securities in such registration statement.  The term “Registrable Securities” means (i) the Warrant Shares and any other securities of the Company issuable upon the exercise of the Warrants and (ii) any shares of capital stock or other securities issued or issuable with respect to this Warrant, as a result of any stock split, stock dividend, recapitalization, exchange, or similar event or otherwise.  

3.

The person or persons in whose name or names any certificate representing Common Stock is issued hereunder shall be deemed to have become the holder of record of the Common Stock represented thereby as of the close of business on the date on which this Warrant is exercised with respect to such shares, whether or not the transfer books of the Company shall be closed.  Until such time as this Warrant is exercised or terminates, the Purchase Price payable and the number and character of securities issuable upon exercise of this Warrant are subject to adjustment as hereinafter provided.

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4.

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 1 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 person or entity acting as a group together with the Holder or any of the Holder’s affiliates), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below).  For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (A) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder or any of its Affiliates and (B) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Company (including, without limitation, any other  Common Stock Equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its affiliates.  Except as set forth in the preceding sentence, for purposes of this Section 5, 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 5 applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any affiliates) and of which portion of this Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination.   In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.  Upon the written or oral request of a Holder, the Company shall within two Trading Days confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding.  In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its affiliates since the date as of which such number of outstanding shares of Common Stock was reported.  The “Beneficial Ownership Limitation” shall be 4.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant.  The Holder, upon not less than 61 days’ prior notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 5, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 5 shall continue to apply.  Any such increase or decrease 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 4 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.

5.

The Company covenants that it will at all times reserve and keep available a number of its authorized Common Stock, free from all preemptive rights, which will be sufficient to permit the exercise of this Warrant.  The Company further covenants that such shares as may be issued pursuant to the exercise of this Warrant will, upon issuance, be duly and validly issued, fully paid and nonassessable and free from all taxes, liens, and charges.  Unless previously exercised, this Warrant shall expire at 5:00 p.m. Eastern Standard Time, on the Expiration Date and shall be void thereafter or can be extended at the Company’s discretion.

6.

If the Company subdivides its outstanding Common Stock, by split-up or otherwise, or combines its outstanding Common Stock, the Purchase Price then applicable to shares covered by this Warrant shall forthwith be proportionately decreased in the case of a subdivision, or proportionately increased in the case of a combination.

7.

If (a) the Company reorganizes its capital, reclassifies its capital stock, consolidates or merges with or into another corporation (but only if the Company is not the surviving corporation and no longer has more than a single shareholder) or sells, transfers or otherwise disposes of all or substantially all its property, assets, or business to another corporation, and (b) pursuant to the terms of such reorganization, reclassification, merger, consolidation, or disposition of assets, shares of common stock of the successor or acquiring corporation, or any cash, shares of stock, or other securities or property of any nature whatsoever (including warrants or other subscription or purchase rights) in addition to or in lieu of common stock of the successor or acquiring corporation (“Other Property”), are to be received by or distributed to the holders of Common Stock, then (c) Holder shall have the right thereafter to receive, upon exercise of this Warrant, the same number of shares of common stock of the successor or acquiring corporation and Other Property receivable upon such reorganization, reclassification, merger, consolidation, or disposition of assets as a holder of the number of Common Stock for which this Warrant is exercisable immediately prior to such event. At the time of such reorganization, reclassification, merger, consolidation or disposition of assets, the successor or acquiring corporation shall expressly assume the due and punctual observance and performance of each and every covenant and condition of this Warrant to be performed and observed by the Company and all the obligations and liabilities hereunder, subject to such modifications as may be deemed appropriate (as 

2

determined by resolution of the Board of Directors of the Company) in order to adjust the number of shares of the common stock of the successor or acquiring corporation for which this Warrant is exercisable. For purposes of this section, "common stock of the successor or acquiring corporation" shall include stock of such corporation of any class which is not preferred as to dividends or assets over any other class of stock of such corporation and which is not subject to redemption and shall also include any evidences of indebtedness, shares of stock, or other securities which are convertible into or exchangeable for any such stock, either immediately or upon the arrival of a specified date or the happening of a specified event and any warrants or other rights to  subscribe for or purchase any such stock. The foregoing provisions of this section shall similarly apply to successive reorganizations, reclassifications, mergers, consolidations, or disposition of assets.

8.

If a voluntary or involuntary dissolution, liquidation or winding up of the Company (other than in connection with a merger or consolidation of the Company) is at any time proposed during the term of this Warrant, the Company shall give written notice to the Holder at least thirty days prior to the record date of the proposed transaction.  The notice shall contain: (1) the date on which the transaction is to take place; (2) the record date (which must be at least thirty days after the giving of the notice) as of which holders of the Common Stock entitled to receive distributions as a result of the transaction shall be determined; (3) a brief description of the transaction; (4) a brief description of the distributions, if any, to be made to holders of the Common Stock as a result of the transaction; and (5) an estimate of the fair market value of the distributions.  On the date of the transaction, if it actually occurs, this Warrant and all rights existing under this Warrant shall terminate.

9.

In no event shall any fractional share of Common Stock of the Company be issued upon any exercise of this Warrant.  If, upon exercise of this Warrant as an entirety, the Holder would, except as provided in this Section 9, be entitled to receive a fractional share of Common Stock, then the Company shall issue the next higher number of full Common Stock, issuing a full share with respect to such fractional share.  If this Warrant is exercised at one time for less than the maximum number of Common Stock purchasable upon the exercise hereof, the Company shall issue to the Holder a new warrant of like tenor and date representing the number of Common Stock equal to the difference between the number of shares purchasable upon full exercise of this Warrant and the number of shares that were purchased upon the exercise of this Warrant.

10.

No adjustments in the Purchase Price shall be required unless such adjustment would require an increase or decrease of at least five cents in such price, provided however, that any adjustments which by reason of this Section 10 are not required to be made shall be carried forward and taken into account in any subsequent adjustment.

12.

Whenever the Purchase Price is adjusted, as herein provided, the Company shall promptly deliver to the Holder a certificate setting forth the Purchase Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment.

13.

If at any time prior to the expiration or exercise of this Warrant, the Company shall pay any dividend or make any distribution upon its Common Stock or shall make any subdivision or combination of, or other change in its Common Stock, the Company shall cause notice thereof to be mailed, first class, postage prepaid, to Holder at least thirty full business days prior to the record date set for determining the holders of Common Stock who shall participate in such dividend, distribution, subdivision, combination or other change.  Such notice shall also specify the record date as of which holders of Common Stock who shall participate in such dividend or distribution is to be determined.  Failure to give such notice, or any defect therein, shall not affect the legality or validity of any dividend or distribution.

14.

The Company will maintain a register containing the names and addresses of the Holder and any assignees of this Warrant.  Holder may change its address as shown on the warrant register by written notice to the Company requesting such change.  Any notice or written communication required or permitted to be given to the Holder may be delivered by confirmed facsimile or telecopy or by a recognized overnight courier, addressed to Holder at the address shown on the warrant register.

15. 

This Warrant has not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws ("State Acts") or regulations in reliance upon exemptions under the Securities Act, and exemptions under the State Acts.  Subject to compliance with the Securities Act and State Acts, this Warrant and all rights hereunder are transferable in whole or in part, at the office of the Company at which this Warrant is exercisable, upon surrender of this Warrant together with the assignment hereof properly endorsed.

16.  

In case this Warrant shall be mutilated, lost, stolen, or destroyed, the Company may issue a new warrant of like tenor and denomination and deliver the same (a) in exchange and substitution for and upon surrender and cancellation of any mutilated Warrant, or (b) in lieu of any Warrant lost, stolen, or destroyed, upon receipt of evidence satisfactory to the Company of the loss, theft or destruction of such Warrant (including a reasonably detailed affidavit with respect to the circumstances of any loss, theft, or destruction) and of indemnity with sufficient surety satisfactory to the Company.

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17.

Unless a current registration statement under the Securities Act, shall be in effect with respect to Common Stock to be issued upon exercise of this Warrant, the Holder, by accepting this Warrant, covenants and agrees that, at the time of exercise hereof, and at the time of any proposed transfer of Common Stock acquired upon exercise hereof, the Company may require Holder to make such representations, and may place such legends on certificates representing Common Stock issuable upon exercise of this Warrant, as may be reasonably required in the opinion of counsel to the Company to permit such Common Stock to be issued without such registration.

18.

 This Warrant does not entitle Holder to any of the rights of a stockholder of the Company.

19.

Nothing expressed in this Agreement and nothing that may be implied from any of the provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties to this Agreement any covenant, condition, stipulation, promise, or agreement contained herein, and all covenants, conditions, stipulations, promises and agreements contained herein shall be for the sole and exclusive benefit of the parties hereto and their respective successors and assigns.

20.

The provisions and terms of this Warrant shall be construed in accordance with the laws of the State of Colorado.

 

 [SIGNATURE PAGE TO FOLLOW]

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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.

		
	ADVANCED CANNABIS SOLUTIONS, INC.

	 
	 

	 
	 

	By:

	/s/ Robert L. Frichtel

	 
	Name: Robert L. Frichtel

	 
	Title: CEO

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EXHIBIT A

FORM OF EXERCISE

Date: ____________________

To: ADVANCED CANNABIS SOLUTIONS, INC./[TRANSFER AGENT]

The undersigned hereby subscribes for _______ shares of common stock of Advanced Cannabis Solutions, Inc. covered by this Warrant and hereby delivers $___________ in full payment of the purchase price thereof. The certificate(s) for such shares should be issued in the name of the undersigned or as otherwise indicated below:

		
	 
	 

	 
	Signature:

	 
	 

	 
	 

	 
	Printed Name

	 
	 

	 
	 

	 
	 

	 
	 

	 
	Name for Registration, if different

	 
	 

	 
	 

	 
	Street Address

	 
	 

	 
	 

	 
	City, State and Zip Code

	 
	 

	 
	 

	 
	Social Security Number

EXHIBIT B

FORM OF ASSIGNMENT

For Value Received, the undersigned hereby sells, assigns and transfers unto the assignee(s) set forth below the within Warrant certificate of Advanced Cannabis Solutions, Inc.; together with all right, title and interest therein, and hereby irrevocably constitutes and appoints ___________________________________ attorney, to transfer the said Warrant on the books of the within-named Company with respect to the number of Common Stock set forth below, with full power of substitution in the premises.

							
	Name(s) of Assignee(s)

	 
	Social Security or

other Identifying

Number(s) of

Assignee(s)

	 
	Address

	 
	No. of Shares

	 
	 
	 
	 
	 
	 
	 

Dated: ______________________________

			
	 
	 
	 

	 
	Signature

	 

	 
	 

	 
	 

	 
	NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WARRANT IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT, OR ANY CHANGE WHATSOEVER.

	 
	 

	 
	 

	 
	 
	 

	 
	Print Name and Title

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