Document:

EXHIBIT
10.67

 

THIS
WARRANT HAS BEEN ACQUIRED FOR INVESTMENT. NEITHER THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY 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 APPLICABLE STATE SECURITIES
LAWS, AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED 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.

 

COMMON
STOCK PURCHASE WARRANT

 

INFINITY
ENERGY RESOURCES, INC.

 

	Warrant
    Exercise Price: $0.50	Issue
    Date: June 4, 2019
	Warrant
    Shares: 50,000	Termination
    Date: June 4, 2026

 

This
COMMON STOCK PURCHASE WARRANT (this “Warrant”) certifies that, for good and valuable consideration, the receipt
of which is hereby acknowledged, Westpark Capital, Inc., a Colorado corporation (the “Holder”), is entitled,
upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time or times on or
prior to the close of business on the seven (7)-year anniversary of the Issue Date (the “Termination Date”)
but not thereafter, to subscribe for and purchase from Infinity Energy Resources, Inc., a Delaware Corporation (the “Company”),
up to 50,000 shares of Common Stock (the “Warrant Shares”). The purchase price of one share of Common Stock
under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b). This Warrant is subject to the following
provisions:

 

1.
Definitions. In addition to the terms defined elsewhere in this Agreement, the following terms shall have the meanings
set forth in this Section 1.

 

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

 

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

 

(d)
“Common Stock” means the common stock of the Company, par value $0.0001 per share, and any other class of securities
into which such securities may hereafter be reclassified or changed.

 

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

 

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

 

(g)
“Person” means an individual, corporation, limited liability company, partnership, association, joint venture,
trust, unincorporated organization, other entity or group (as defined in the Exchange Act).

 

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

 

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

 

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

 

(k)
“Trading Market” means the principal market or exchange on which the Common Stock is listed or quoted for trading
on the date in question.

 

(l)
“Transfer Agent” means Action Stock Transfer, the current transfer agent of the Company and any successor transfer
agent of the Company.

 

2.
Exercise.

 

(a)
General. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times
on or before the Termination Date by delivery to the Company (or such other office or agency of the Company as it may designate
by notice in writing to the Holder at the address of the Holder appearing on the books of the Company) of a duly executed facsimile
copy of the Notice of Exercise Form annexed hereto (“Notice of Exercise”). Within three (3) Trading Days following
the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price (defined below) for the shares specified
in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a United States bank. Notwithstanding
anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the
Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case,
the Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading Days of the date the final Notice
of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number
of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder
in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing
the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of
Exercise within one (1) Business Day of receipt of such notice. The Holder and any assignee, by acceptance of this Warrant,
acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant
Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount
stated on the face hereof. Under no circumstances will the Company be required to net cash settle this Warrant upon its exercise.

 

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(b)
Exercise Price. The exercise price per share of the Warrant Shares shall be fifty cents ($0.50) per share (the “Exercise
Price”).

 

(c)
Mechanics of Exercise.

 

(i)
Delivery of Certificates Upon Exercise. Shares of Common Stock purchased hereunder shall be transmitted by the Transfer
Agent to the Holder by crediting the account of the Holder’s prime broker with the Depository Trust Company (“DTC”)
through its Deposit Withdrawal Agent Commission (“DWAC”) system if the Company is then a participant in such
system and either (A) there is an effective registration statement permitting the resale of the Warrant Shares by the Holder or
(B) the Warrant Shares are eligible for resale without volume or manner of sale limitations pursuant to Rule 144, and otherwise
by physical delivery of a certificate to the address specified by the Holder in the Notice of Exercise by the date that is three
(3) Trading Days after the latest of (x) the delivery to the Company of the Notice of Exercise Form, (y) surrender of this Warrant
(if required) and (z) payment of (A) if this Warrant is exercised on a cash basis, the aggregate Exercise Price as set forth above
and (B) all taxes required to be paid by the Holder, if any, pursuant to Section 2(c)(vi) prior to the issuance of such shares
(such date, the “Warrant Share Delivery Date”). This Warrant shall be deemed to have been exercised on the
first date on which all of the foregoing have been delivered to the Company. The Warrant Shares shall be deemed to have been issued,
and Holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such shares
for all purposes, as of the date the Warrant has been exercised, with payment to the Company of the Exercise Price and all taxes
required to be paid by the Holder, if any, pursuant to Section 2(c)(v) prior to the issuance of such shares, having been paid.

 

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

 

(iii)
Rescission Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder a certificate or the certificates
representing the Warrant Shares pursuant to Section 2(d)(i) by the Warrant Share Delivery Date, then, the Holder will have the
right to rescind such exercise.

 

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

 

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(v)
Charges, Taxes and Expenses. Issuance of certificates for 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 certificate, all of which taxes and expenses
shall be paid by the Company, and such certificates 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 certificates for Warrant Shares are to be issued
in a name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment
Form attached hereto duly executed by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient
to reimburse it for any transfer tax incidental thereto.

 

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

 

(d)
Holder’s Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not
have the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect
to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s
Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates), would beneficially
own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of
shares of Common Stock beneficially owned by the Holder and its Affiliates shall include the number of shares of Common Stock
issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of
shares of Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially
owned by the Holder or any of its Affiliates and (ii) exercise or conversion of the unexercised or nonconverted portion of any
other securities of the Company (including, without limitation, any other Common Stock Equivalents) subject to a limitation on
conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates.
Except as set forth in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated in
accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged
by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of
the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent
that the limitation contained in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in relation
to other securities owned by the Holder together with any Affiliates) and of which portion of this Warrant is exercisable shall
be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination
of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and
of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company
shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group
status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations
promulgated thereunder. For purposes of this Section 2(e), in determining the number of outstanding shares of Common Stock, a
Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic
or annual report filed with the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a
more recent written notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding.
Upon the written or oral request of a Holder, the Company shall within two Trading Days confirm orally and in writing to the Holder
the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be
determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder
or its Affiliates since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial
Ownership Limitation” shall be 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 of this Section 2(e) or may waive the
application of this Section 2(e). Any such increase or decrease or waiver 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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3.
Certain Adjustments.

 

(a)
Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or
otherwise makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities
payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company
upon exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines
(including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by
reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price
shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares,
if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding
immediately after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted
such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a)
shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend
or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

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

 

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(c)
Notice to Holder.

 

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

 

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

 

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4.
Limitation on Sales of Warrant Shares. The Holder, by the acceptance hereof, acknowledges that the Warrant Shares have
not been registered under the Securities Act, and agrees that it shall not sell, pledge, distribute, offer for sale, transfer
or otherwise dispose of any Warrant Shares, in the absence of (i) an effective registration statement under the Securities Act
as to such Warrant Shares and registration or qualification of such Warrant Shares under any applicable “blue sky”
or state securities law then in effect or (ii) an opinion of counsel, satisfactory to the Company, that such registration and
qualification are not required. Without limiting the generality of the foregoing, unless the resale of the Warrant Shares shall
have been effectively registered under the Securities Act, the Warrant Shares issued upon exercise of this Warrant shall be imprinted
with a legend in substantially the following form:

 

“This
security has been acquired for investment and has not been registered under the Securities Act of 1933, as amended (the “Securities
Act”), or applicable state securities laws. This security may not be sold, pledged or otherwise transferred in the absence
of such registration or pursuant to an exemption therefrom under the Securities Act and such laws, supported by an opinion of
counsel, reasonably satisfactory to the Company and its counsel, that such registration is not required.”

 

5.
Transfer of Warrant.

 

(a)
Transfer. Subject to compliance with any applicable state and federal securities laws and the provisions of this Warrant,
this Warrant and all rights hereunder may be transferred, in whole or in part, by surrendering this Warrant at the principal office
of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached
hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making
of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants
in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument
of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this
Warrant shall promptly be cancelled. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder
for the purchase of Warrant Shares without having a new Warrant issued.

 

(b)
New Warrants. This Warrant may be divided 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 5(a), as to any transfer which may be involved in such division, the Company shall
execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided in accordance with such notice.
All Warrants issued on transfers or exchanges shall be dated the initial issuance date set forth on the first page of this Warrant
and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

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

 

6.
Miscellaneous.

 

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

 

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

 

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

 

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

 

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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 Delaware, 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 shall be commenced exclusively in the state and federal courts sitting
in the City of Kansas City, Kansas. Each party hereby irrevocably submits to the exclusive jurisdiction of the federal courts
sitting in the Kansas City, Kansas, and the state courts sitting in Wyandotte or Johnson County, Kansas 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.

 

(f)
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 Holder’s rights, powers or remedies.

 

Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and
shall be deemed given and effective on the earliest of: (i) the date of transmission, if such notice or communication is delivered
via facsimile at the facsimile number set forth on the signature pages attached hereto at or prior to 5:30 p.m. (New York City
time) on a Trading Day, (ii) the next Trading Day after the date of transmission, if such notice or communication is delivered
via facsimile at the facsimile number set forth on the signature pages attached hereto 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 (d) upon actual receipt by the party to whom such notice is required to
be given. Except as otherwise provided of in this Warrant, the address for such notices and communications shall be as follows:
if to (A) the Company, 9705 Loiret Boulevard, Lenexa, Kansas, 66219, Attention: Chief Financial Officer, and (B) the Holder, 1900
Avenue of the Stars, Los Angeles, CA 90067, Attention: Corporate Secretary.

 

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

 

(h)
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.

 

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(i)
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.

 

(j)
Amendment. This Warrant may only be modified or amended or the provisions hereof waived with the written consent of the
Company and the Holder.

 

(k)
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.

 

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

 

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

 

[SIGNATURE
PAGE FOLLOWS]

 

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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.

 

	 	INFINITY
    ENERGY RESOURCES, INC.
	 	 	 
	 	By:	 
	 	Name:	Stanton
    E. Ross
	 	Title:	Chief
    Executive Officer

 

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NOTICE
OF EXERCISE

 

To:
Infinity Energy Resources, Inc.

 

(1)
The undersigned hereby elects to exercise its Warrant (the “Warrant”) with respect to 50,000 shares of common
stock of the Company (the “Warrant Shares”), pursuant to the terms of the Warrant, and tenders herewith or
will tender within the time period specified in the Warrant payment of the exercise price in full (or has elected below to exercise
the Warrant on a cashless basis), together with all applicable transfer taxes, if any. If the Warrant is being exercised in full,
the Warrant is attached hereto or will be delivered within the time period specified in the Warrant.

 

(2)
Payment of Exercise Price:

 

	 	[  ]	Payment
shall take the form of lawful money of the United States in accordance with the terms of the Warrant.
	 	 	 
	 	[  ]	Payment
    shall take the form of a cashless exercise in accordance with the terms of the Warrant.

 

(3)
Please issue a certificate or certificates representing 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 or by physical delivery of a certificate to:

 

 

 

 

 

 

 

[SIGNATURE
OF HOLDER]

 

	Name
    of Holder: 	 
	 	 
	Signature:
    	 
	 	 
	Name
    of Signatory (if entity): 	 
	 	 
	Title
    of Signatory (if entity): 	 
	 	 
	Date:
    	 

 

    	 

    	 

    

 

ASSIGNMENT
FORM

 

(To
assign the foregoing warrant, execute this form and supply required information.

Do
not use this form to exercise the warrant.)

 

FOR
VALUE RECEIVED, [____] all of or [_______] shares of the foregoing Warrant and all rights evidenced thereby are hereby assigned
to:

 

 

 

whose
address is:

 

 

 

 

 

	 	Dated:
    ______________, _______
	 	 
	 	 
	 	Name
    of Holder
	 	 
	 	 
	 	Signature
	 	 
	 	 
	 	Name
    of Signatory (if entity)
	 	 
	 	 
	 	Title
    of Signatory (if entity)
	 	 
	 	Address
    of Holder:
	 	 
	 	 

 

Signature
Guaranteed: ___________________________________________

 

NOTE:
The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration
or enlargement or any change whatsoever, and must be guaranteed by a bank or trust company. Officers of corporations and those
acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.Exhibit 10.1

AGREEMENT OF SETTLEMENT AND RELEASE

 

B E T W E E N:

 

MDC Partners Inc.

 

(hereinafter referred to as “MDC”)

 

- and -

 

Stephanie Nerlich

 

(hereinafter referred to as “Executive”)

 

WHEREAS, Executive
and MDC are parties to that certain Amended and Restated Employment Agreement dated November 1, 2017 (the “Employment
Agreement”);

 

AND WHEREAS,
the parties have mutually agreed that Executive’s employment with MDC would cease effective as of June 3, 2019 (the “Termination
Date”);

 

AND WHEREAS,
the parties have agreed to resolve and settle in full all claims of any kind that could be or could have been raised by Executive
under any federal or provincial law or under any statute or contract or tort law or otherwise, against MDC and its partners, subsidiaries,
affiliates, unincorporated divisions, successors or assigns, or against any past or present director, officer, agent, shareholder
or individual now or previously employed by or representing any of them;

 

NOW THEREFORE,
the parties agree as follows:

 

1.       MDC
shall pay to Executive the following amounts (the “Separation Payments”), which shall be paid by MDC not later
than 10 business days after the Termination Date:

 

		(i)	in accordance with the Employment Agreement, the aggregate sum of CDN $1,157,500; and

 

		(ii)	(ii) in accordance with that certain retention bonus letter agreement between MDC and Executive
dated December 21, 2018, an amount equal to USD $500,000.

 

The Separation Payments
are in full satisfaction of any and all claims Executive may have against MDC and exceed in value any payments to which Executive
may otherwise be entitled.

 

2.       MDC
shall pay to Executive an amount equal to Executive’s accrued but unpaid base salary through the Termination Date, to be
paid in the same manner as Executive’s base salary and benefit were previously paid in the ordinary course.

 

     

    
	 	-Page 2 -	 

 

    

 

3.       MDC
shall provide Executive with continued participation on the same basis in the health benefit plans in which the Executive is currently
participating for a period to end on the earlier of (i) December 31, 2019 and (ii) the date on which the Executive is eligible
to receive coverage and benefits under the same type of plan of a subsequent employer.

 

4.       MDC
shall reimburse Executive for all outstanding business expenses incurred in the course of her employment prior to the Termination
Date.

 

5.       Executive
shall remain eligible to receive a cash payout from MDC pursuant to the terms and conditions of that certain 2018 LTIP Award Agreement
between MDC and Executive dated as of February 23, 2018 in a target amount equal to $250,000 (the “2018 LTIP Award”).
Payment of any amount under the 2018 LTIP Award shall be based upon the achievement by MDC of the underlying financial performance
targets during the applicable performance period termination and calculated in light of Executive’s termination without “Cause”
as of June 3, 2019. Payment (if any) by MDC of any amount due under the 2018 LTIP Award will be made on the “Performance
Award Payment Date” specified in the underlying award agreement and shall also be conditioned
upon and subject to Executive’s ongoing compliance with the terms and conditions of this Agreement following the Termination
Date.

 

6.       Executive
will remain eligible to receive a pro-rated portion of the unvested and outstanding restricted shares of MDC Class A stock previously
granted to her by MDC pursuant to, and in accordance with, all of the terms and conditions of the following outstanding Restricted
Stock Unit Grant Agreements:

 

		(i)	40,000 shares granted on January 31, 2017; and

 

		(ii)	26,738 shares granted on February 28, 2018.

 

The potential pro-rated
vesting of the foregoing stock unit grants shall remain subject to the terms and conditions of the underlying grant agreement,
including the achievement by MDC of the specified financial performance targets during the applicable performance periods.

 

7.       Notwithstanding
the provisions of the Employment Agreement to the contrary, Executive will not remain eligible to receive a pro-rata portion of
her “Annual Discretionary Bonus” with respect to calendar year 2019.

 

8.       Unless
otherwise specified herein, all monetary amounts referred to herein shall be in Canadian funds and shall be subject to withholding
of taxes and other deductions required by law or as agreed to, in writing, between the parties.

 

9.       Executive
acknowledges that, in the course of her employment, she was provided with information which is confidential or proprietary in nature,
as to MDC or its clients relating to their business affairs, property, methods of operation or other data (the “Confidential
Information”), and that, the goodwill afforded to MDC depends upon, MDC and its employees keeping such information confidential.
Executive acknowledges that MDC would be irreparably damaged if the Confidential Information were disclosed to or utilized on behalf
of others. Therefore, Executive agrees that, she will not at any time disclose to any person or use any Confidential Information,
or permit any person to examine and/or make copies of any documents which contain or are derived from Confidential Information,
whether prepared by Executive or otherwise coming into the Executive’s possession or control without the prior written consent
of MDC. Executive agrees that MDC shall be entitled to cease making the Separation Payments and enforce the remedies contained
therein in the event of any breach by Executive of these confidentiality obligations.

 

     

    
	 	-Page 3 -	 

 

    

 

10.       Executive
hereby acknowledges and reaffirms all of her restrictive covenants set forth in Section 8 of the Employment Agreement, which covenants
shall remain in full force and effect following the Termination Date.

 

11.       Executive
agrees not to, either directly or indirectly, publish or disclose the contents of this agreement or any terms thereof, in any manner
whether in writing or orally, to any individual or entity (except for any one from whom Executive obtains professional advice regarding
this agreement) directly or indirectly, whether individually or by or through any agent, representative, attorney or other person.
Executive agrees that she will not say, write or cause to be said or written, any statement that may be considered defamatory,
derogatory or disparaging of any of the Releasees. MDC agrees to use commercially reasonable efforts to cause its senior executives
to not say, write or cause to be said or written, any statement that may be considered defamatory, derogatory or disparaging of
Executive.

 

12.       The
parties agree that this agreement may not be used as evidence by either of them in any action or proceeding except one in which
one of the parties alleges a breach of this agreement.

 

13.       In
consideration for the payments and other promises contained in this agreement, Executive agrees to execute the attached full and
final Release.

 

14.       This
agreement and the terms hereof supersede and replace all prior discussions and/or agreements made between the parties, whether
oral or written, and shall constitute the entire agreement between the parties with respect to all matters contemplated by this
agreement and the parties hereto do not rely upon or regard as material, any representations or writings whatsoever not incorporated
into and made a part of this agreement. This agreement shall not be amended, altered or modified except in writing signed by the
parties.

 

 

 

*                      *                      *

 

 

     

    
	 	-Page 4 -	 

 

    

 

THIS AGREEMENT
may be executed in counterparts, all of which together shall constitute a single, original instrument.

 

HAVING READ AND
UNDERSTOOD THE RELEASE, CONSULTED COUNSEL OR VOLUNTARILY ELECTED NOT TO CONSULT COUNSEL, AND HAVING HAD SUFFICIENT TIME TO CONSIDER
WHETHER TO ENTER INTO THIS AGREEMENT, THE PARTIES HERETO HAVE EXECUTED THIS AGREEMENT AND RELEASE AS OF THE DAY AND YEAR FIRST
WRITTEN BELOW.

 

DATED this
5th day of June 2019.

 

		 	 	MDC
Partners Inc.

	 	Per:	/s/
    Mitchell Gendel                
	 	Name:Mitchell Gendel

Title:General Counsel
	 	I have the authority to bind the corporation
	 
	/s/ 	 	/s/ Stephanie Nerlich
	Witness: 	 	Stephanie Nerlich
	 	 	 	 	 

 

 

 

     

    
	 	-Page 5 -	 

 

    

 

RELEASE AND INDEMNITY

 

IN CONSIDERATION for
the payment of the sum of Ten ($10.00) Dollars and the “Separation Payments” payable pursuant to Section 1 of the Agreement
of Settlement and Release, and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, I STEPHANIE
NERLICH, for myself, my heirs, executors, administrators and assigns, hereby release and forever discharge MDC PARTNERS INC. and
its subsidiaries, affiliates, unincorporated divisions, predecessors, successors and assigns, and all of their past and present
officers, directors, representatives, agents, shareholders and employees (collectively the “Releasees”) from
any and all claims, demands, causes of action, fees and liabilities of any kind whatsoever, whether known or unknown, which I ever
had, now have or may have hereafter against any of them, by reason of any actual or alleged act, omission, transaction, practice,
conduct, occurrence or other matter whatsoever up to and including the date on which this agreement becomes effective. Without
limiting the generality of the foregoing, this instrument shall release the Releasees from any claim arising out of or in any way
relating to my employment or the cessation thereof, including but not limited to all claims that could have been raised under the
Employment Standards Act of Ontario, 2000 as amended, the Human Rights Code of Ontario, as amended, Workplace Safety
and Insurance Act, Occupational Health and Safety Act, including but not limited to any claim for commissions, vacation pay,
overtime pay, health benefits, RSUs, bonuses, payment under any bonus or other compensation plan and any other compensation of
any kind whatsoever under any federal or provincial law, by statute, regulation, contract or tort law, or and that I have not been
subjected to any unequal treatment contrary to the Ontario Human Rights Code.

 

AND FOR THE SAID CONSIDERATION
I further agree not to make any claim or demand or commence, maintain or prosecute any action, cause or proceeding for damages,
compensation, loss or any relief whatsoever against the said Releasees in respect of any cause, matter or thing whatsoever arising
out of or in consequence of my employment or the termination of my employment with the Releasees. I further agree that this Release
shall operate conclusively as an estoppel in the event of any such claim, action or proceeding and may be pleaded accordingly.

 

AND FOR THIS CONSIDERATION
I further agree to indemnify and save harmless the Releasees from any and all claims or demands under the Income Tax Act
of Canada and/or the Income Tax Act of the Province of Ontario and/or under the Employment Insurance Act of Canada,
in respect of any failure on the part of the Releasees to withhold income tax and/or any amounts previously paid to me by Social
Development Canada on account of employment insurance benefits received from the said consideration any interest or penalties relating
to same, and further, to indemnify the Releasees for any costs or expenses it may incur in defending such claims or demands.

 

NOTWITHSTANDING THE FOREGOING,
this Release shall not apply to any actions, causes of action, claims and demands which I may have relating to the failure or the
refusal of the Releasees to comply with the terms of settlement as agreed upon.

 

 

     

    
	 	-Page 6 -	 

 

    

 

AND I HEREBY DECLARE
that I fully understand the terms of this settlement and have received or was afforded the opportunity to receive independent legal
advice prior to executing this document and that I voluntarily accept the consideration offered for the purpose of making full
and final compromise and settlement of all claims as aforesaid.

 

AND I HEREBY AGREE AND
UNDERTAKE to resign as an officer and/or director from any companies referred to above and shall execute any documentation required
for such purpose.

 

IT IS UNDERSTOOD AND
AGREED that I hereby undertake and agree not to disclose the facts of this settlement or agreement or the terms thereof to any
third party without the written consent of the Releasees, except persons from whom I receive professional advice, my immediate
family or as required by law. I also hereby undertake and agree that I
will not make any disparaging remarks against the Releasees.

 

THIS RELEASE AND INDEMNITY
shall be deemed to have been made in and shall be construed in accordance with the laws of the Province of Ontario.

 

THIS RELEASE AND INDEMNITY
shall enure to the benefit of and be binding upon the undersigned, the Releasees and their respective heirs, executors, administrators,
legal personal representatives, successors and assigns.

 

IT IS UNDERSTOOD AND
AGREED that the giving of the aforesaid consideration is deemed to be no admission whatsoever of liability on the part of the Releasees.

 

IN WITNESS WHEREOF I
have hereunto set my hand and seal at  ________ this ____ day of June, 2019.

 

 

	SIGNED, SEALED AND DELIVERED

in the presence of	 	 
	/s/ 	 	/s/ Stephanie Nerlich
	Witness: 	 	Stephanie Nerlich

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