Document:

Exhibit 10.16

 

August 27, 2020

 

Movano Inc.

6200 Stoneridge Mall Rd., Suite 300

Pleasanton, CA 94588

Attention: Michael Leabman, CEO

 

Re:      Agreement

 

Dear Michael:

 

This letter agreement
(the “Agreement”) between Movano Inc. (fka Maestro Sensors Inc.) (together with its subsidiaries and
successors, the “Company”) and Emily Wang Fairbairn (“Emily”) and Maestro Venture
Partners LLC, and each of my other affiliates and their respective affiliates, (the “Lead Investor”)
amends and restates the Agreement dated March 14, 2018 between the Lead Investor and the Company (the “Original Agreement”).

 

1. Lead
Investor Consideration. As consideration for the Lead Investor’s investment in the Company’s Series A Preferred
Stock financing and the agreement to provide services as set forth in this Agreement, the Company agrees as follows:

 

		a.	From March 14, 2018 until March 14, 2020 Emily provided business and financial advice from time
to time as mutually agreed by the Company and Emily.

 

		b.	The Lead Investor is hereby granted a right, exercisable by the Lead Investor at any time prior
to the Company’s IPO (if any), to be appointed to the Company’s Board of Directors (“Board”) and,
if requested by the Lead Investor (i) to be Chairwoman/Chairperson of the Board and (ii) to be a member of any executive search
committee of the Board designated conduct any search for a chief executive officer of the Company (each of these Board rights shall
be forfeited and may not be re-exercised if at any time the Lead Investor resigns from the Board). Lead Investor shall be compensated
for service on the Board based on then-current market practice (which may include stock options, cash compensation or the like),
subject to approval by the Board.

 

		c.	The Lead Investor is hereby granted a pre-emptive right to purchase a percentage of any round of
Company financing led by an investor purchasing Company securities (a “Strategic Investor”) primarily for strategic,
rather than financial, reasons (“Strategic Round”) equal to the Lead Investor’s percentage ownership of
the Company’s Common Stock (assuming conversion of all convertible securities) as of immediately prior to such Strategic
Round. With respect to any such investment made by the Lead Investor, the Lead Investor will be entitled to be granted a warrant
to purchase a number of shares of the class or series of capital stock issued or issuable (in the case of convertible securities)
equal to 10% of the number of shares of capital stock issued or issuable (in the case of convertible securities) to the Lead Investor
in such financing, with an exercise price no less than the effective purchase price per share of such capital stock issued or issuable
to the Lead Investor.

 

     

     

    

 

		d.	The Lead Investor is hereby granted a first right of first refusal to purchase up to 100% of any
round of Company financing prior to an IPO that is not a Strategic Round. With respect to any such investment made by the Lead
Investor, the Lead Investor will be entitled to be granted a warrant to purchase a number of shares of the class or series of capital
stock issued or issuable (in the case of convertible securities) equal to 10% of the number of shares of capital stock issued or
issuable (in the case of convertible securities) to the Lead Investor in such financing, with an exercise price no less than the
effective purchase price per share of such capital stock issued or issuable to the Lead Investor. Notwithstanding the foregoing,
in connection with the Lead Investor’s purchase of $500,000 of the Company’s convertible promissory notes pursuant
to the offering of same, which is being completed on or about the date hereof, the Lead Investor shall be issued 10,000 warrants
in the same form being issued to the placement agents engaged by the Company in connection therewith.

 

		e.	The Lead Investor is hereby granted a pre-emptive right (subject to customary pro rata underwriter
cutbacks) to purchase a percentage of Common Stock sold in the Company’s IPO (if any) equal to the Lead Investor’s
percentage ownership of the Company’s Common Stock (assuming conversion of all convertible securities) as of immediately
prior to such IPO.

 

2. Confidentiality.
Lead Investor acknowledges that in connection with the Engagement, the Company will provide Lead Investor with information which
the Company considers to be confidential, including its trade secrets (“Confidential Information”). Lead
Investor agrees to employ all reasonable efforts to keep the Confidential Information secret and confidential, using no less than
the degree of care employed by Lead Investor to preserve and safeguard its own confidential information, and shall not disclose
or reveal the Confidential Information to anyone except its employees, Lead Investors, affiliates, attorney, accountants, advisors
and contractors who have an obligation of confidentiality with Lead Investor and are directed to keep such information confidential,
and, in each case, have a reasonable need to know such information. Lead Investor will not use the Confidential Information except
in connection with its performance of services to the Company hereunder, unless disclosure is required by law, court order, or
any government, regulatory or self-regulatory agency or body in the opinion of Lead Investor’s counsel, in which event Lead
Investor will provide the Company with reasonable advance notice of such disclosure to enable the Company to seek a protective
order or other available protection and, in the absence of any such protective order or other such protection, will disclose only
the information it is advised by legal counsel is required to be disclosed. “Confidential Information”
does not include information which (a) was in the public domain or readily available to the trade or the public prior to the date
of the disclosure; (b) becomes generally available to the public in any manner or form through no fault of Lead Investor or its
representatives; (c) was in Lead Investor’s possession or readily available to Lead Investor from another source not under
obligation of secrecy to the Company or, with respect to such information, from another source not under obligation of secrecy
to anyone with respect to such information, in each case prior to the first disclosure by the Company to Lead Investor of such
information; (d) is rightfully received by Lead Investor from another source on a non-confidential basis without breach of any
obligation of confidentiality to anyone; (e) is developed by or for Lead Investor without reference to or use of the Company’s
Confidential Information; (f) is disclosed by the Company to an unaffiliated third party free of any obligation or reasonable expectation
of confidence; or (g) is released for disclosure with the Company’s written consent. Notwithstanding any termination of this
Agreement, Lead Investor’s confidentiality obligations (1) in respect of any material that qualifies as a “Trade
Secret” under the Uniform Trade Secrets Act (“UTSA”) shall survive in perpetuity under
the UTSA until such information ceases to be a Trade Secret, and (2) in respect of any non-Trade Secret, for a period of two (2)
years from the date of disclosure by the Company to Lead Investor.

 

    2

     

    

 

3. Indemnification.
The Company hereby agrees to indemnify and hold harmless Lead Investor and its affiliates and each of their directors, officers,
managers, agents, employees, members and counsel (collectively, the “Lead Investor Indemnified Parties”)
to the fullest extent permitted by law from and against any and all losses, claims, damages, expenses, or liabilities (or actions
in respect thereof), joint or several, to which they or any of them may become subject under any statute or at common law, including
any reasonable legal or other expense (including but not limited to the cost of any investigation, preparation, or response to
third party subpoenas) incurred by them (“Losses”) in connection with any third party claims, litigation
or administrative or regulatory action (“Proceeding”), whether pending or threatened, and whether or
not resulting in any liability, in each case, insofar as such losses, claims, liabilities, or litigation or Losses arise out of
or are based upon any wrongful act of the Company (or any act that is alleged in good faith by a third party plaintiff or claimant
not affiliated with and not serving as an agent or representative of Lead Investor to be a wrongful act of the Company) in connection
with the Engagement; provided, however, they shall not apply to (i) amounts paid in settlement of any such litigation if such settlement
is effected without the consent of the Company, which consent will not be unreasonably withheld, conditioned or delayed or (ii)
Losses determined, by a final, non-appealable judgment by a court or arbitral tribunal of competent jurisdiction, to have arisen
from the willful misconduct or gross negligence of Lead Investor Indemnified Parties, in which case the Company will be liable
only for the portion fairly allocated to the judicially determined wrongdoing of the Company. Lead Investor will indemnify the
Company and its directors, officers, managers, agents, employees, members and counsel for Losses resulting from claims of third
parties not affiliated with and not serving as an agent or representative of Company in any Proceeding of arising out of Lead Investor’s
willful misconduct or gross negligence; provided that clauses (i) and (ii) above will apply mutatis mutandis to this sentence.

 

The provisions of this
Section 4 shall survive any termination or expiration of this Agreement. This Section 4 will not apply to Emily’s
service on the Company’s Board; provided however, that Emily will be offered the opportunity to enter into the Company’s
standard form of indemnification agreement for directors of the Company in connection with such service.

 

4. Work
Product and Announcements. Lead Investor’s advice rendered to the Company as part of this Engagement, if any, in whatever
form, including written, electronic transmission, and oral, shall be considered work for hire and the property and intellectual
property of the Company, and Lead Investor hereby assigns to the Company all right, title and interest in such advice and any related
work product and any intellectual property therein. Any document or other written information prepared by Lead Investor in connection
with this Engagement shall not be duplicated by the Lead Investor except as explicitly provided for hereunder or required by law
or upon the written consent of the Company. The Lead Investor shall have no ownership or rights to any intellectual property, advice
or work product that concerns the business or the related activities of the Company.

 

    3

     

    

 

5. Notice.
All notices, demands, and other communications to given pursuant to this Agreement shall be in writing and shall be personally
delivered, sent by overnight delivery using a nationally recognized courier service, sent by facsimile transmission, or emailed.
Notice shall be deemed received: (a) if personally delivered, upon the date of delivery to the address of the receiving party;
(b) if sent by overnight courier, the date actually received by the recipient; (c) if sent email, when sent. The parties will each
promptly notify the other of any changes to the following contact information.

  

	
        Notices to Lead Investor shall be sent to:

         

        Emily Wang Fairbairn

        10 Orinda View Rd.

        Orinda CA 94563
	
        Notices to the Company shall be sent to:

         

        Movano Inc.

        6200 Stoneridge Mall Rd., Suite 300

        Pleasanton, CA 94588

        Attention: Michael Leabman, CEO

 

6. Complete
Agreement; Amendments; Assignment. This Agreement amends and restates Original Agreement and sets forth the entire understanding
of the parties relating to the subject matter hereof and thereof and supersede and cancel any prior communications, understandings
and agreements, whether oral or written, between Lead Investor and the Company. This Agreement may not be amended or modified except
in writing. The rights of Lead Investor hereunder shall be freely assignable to any affiliate of Lead Investor, and this Agreement
shall apply to, inure to the benefit of and be binding upon and enforceable against the parties and their respective successors
and assigns.

 

7. Third
Party Beneficiaries. This Agreement is intended solely for the benefit of the parties hereto and, with the exception of the
rights and benefits conferred upon the Lead Investor Indemnified Parties by Section 4 of this Agreement, shall not be deemed
or interpreted to confer any rights upon any third parties.

 

8. Governing
Law; Jurisdiction; Venue. All aspects of the relationship created by this Agreement shall be governed by and construed in accordance
with the laws of the State of California, applicable to contracts made and to be performed in California, without regard to its
conflicts of laws provisions. All actions and proceedings which are not submitted to arbitration pursuant to Section 10
hereof shall be heard and determined exclusively in the state and federal courts located in San Francisco, California, and the
Company and Lead Investor hereby submit to the jurisdiction of such courts and irrevocably waive any defense or objection to such
forum, on forum non conveniens grounds or otherwise.

 

9. Arbitration.
Any dispute, claim or controversy arising out of or relating to this Agreement or the breach, termination, enforcement, interpretation
or validity thereof, including the determination of the scope or applicability of this agreement to arbitrate, shall be determined
by arbitration before one arbitrator in San Francisco (with the exception of claims to enforce the indemnity provision contained
herein), administered by JAMS pursuant to its Streamlined Arbitration Rules and Procedures. Judgment on the Award may be entered
in any court having jurisdiction. This clause shall not preclude parties from seeking provisional remedies in aid of arbitration
from a court of appropriate jurisdiction.

 

    4

     

    

 

The arbitrator may,
in the award, allocate all or part of the costs of the arbitration, including the fees of the arbitrator and the reasonable attorneys’
fees of the prevailing party.

 

The parties hereby
agree that this Section 10 shall survive the termination and/or expiration of this Agreement.

 

The Company’s
and Lead Investor’s consent to Arbitration are confirmed by initialing below:

 

	 	 	 
	Company	 	Lead Investor

 

10. Severability.
Should any one or more covenants, restrictions and provisions contained in this Agreement be held for any reason to be void, invalid
or unenforceable, in whole or in part, such unenforceability will not affect the validity of any other term of this Agreement,
and the invalid provision will be binding to the fullest extent permitted by law and will be deemed amended and construed so as
to meet this intent. To the extent any provision cannot be so amended or construed as a matter of law, the validity of the remaining
provisions shall be deemed unaffected and the illegal or invalid provision will be deemed stricken from this Agreement.

 

11. Section
Headings. The section headings herein are for convenience of reference only, and shall not limit or otherwise affect the meaning
hereof.

 

12. Counterparts.
This Agreement may be executed via facsimile or other electronic transmission and may be executed in separate counterparts, each
of which shall be deemed to be an original and all of which together shall constitute a single instrument.

 

    5

     

    

 

If the above accords
with your understanding and agreement, kindly indicate your consent hereto by signing below. We look forward to a long and successful
relationship with you.

 

	 	Very truly yours,
	 	 
	 	Ascend Capital, LLC
	 	Maestro Venture Partners LLC
	 	Emily Wang Fairbairn
	 	 	 
	 	By:	/s/ Emily Wang Fairbairn
	 	 	Emily Wang Fairbairn

 

ACCEPTED AND AGREED TO

AS OF THE DATE FIRST ABOVE WRITTEN:

 

	Movano Inc.	 
	 	 	 
	By:	/s/ Michael Leabman	 
	 	Michael Leabman, CEOExhibit 10.1

 

 

 

STOCK
PURCHASE AGREEMENT

between

EDWARD
MANOLOS

and

CANNABIS
GLOBAL, INC.

dated as
of

January
27, 2021

 

 

 

 

 

    	  

    	 

    

STOCK
PURCHASE AGREEMENT

This Stock
Purchase Agreement (this “Agreement”), dated as of January 27, 2021, is entered into between Edward Manolos,
an individual (“Manolos”), and Cannabis Global, Inc., a Nevada corporation (“CGI”). Capitalized
terms used in this Agreement have the meanings given to such terms herein.

RECITALS

WHEREAS,
Manolos owns that number of issued and outstanding shares of common stock, no par value (the “Shares”), of
Natural Plant Extract of California, Inc., a California corporation (the “Company”), as set forth on Schedule
1 hereto (the “Shares”);

WHEREAS,
Natural Plant Extract operates a licensed psychoactive cannabis manufacturing and distribution business operation out of Lynwood,
California;

WHEREAS,
CGI is an issuer with a class of shares registered pursuant to Section 12(g) of the Securities
Exchange Act of 1934, as amended (the “1934 Act”), and whose shares are publicly traded through the
OTC Markets under the ticker symbol CBGL; and

WHEREAS,
Manolos wishes to sell to CGI, and CGI wishes to purchase from Manolos, the Shares, subject to the terms and conditions set forth
herein.

NOW,
THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

ARTICLE
I

Purchase and sale

Section
1.01       Purchase and Sale. Subject to the terms and conditions
set forth herein, at the Closing (as defined in Section 2.01), Manolos shall sell to CGI, and CGI shall purchase from Manolos,
the Shares, free and clear of any mortgage, pledge, lien, charge, security interest, claim, community property interest, option,
equitable interest, restriction of any kind (including any restriction on use, voting, transfer, receipt of income, or exercise
of any other ownership attribute), or other encumbrance (each, an “Encumbrance”), for the consideration specified
in Section 1.02.

Section
1.02       Purchase Price. The aggregate purchase price
for the Shares shall be that number of shares of restricted common stock of CGI (the “CGI Shares”) equal to
$[2,040,000] (the “Purchase Price”). For purposes of determining the number of CGI Shares equal to the Purchase
Price, the valuation of the CGI Shares shall be determined based on the average daily trading price for the [ten (10)] trading
days immediately preceding the Closing.

    	1  

    	 

    

ARTICLE
II

CLOSING

Section
2.01       Closing.
The closing of the transactions contemplated by this Agreement (the “Closing”) shall take
place simultaneously with the execution of this Agreement on the date of this Agreement (the “Closing Date”),
such Closing to take place electronically, or such other place or manner as the parties may mutually agree. The consummation of
the transactions contemplated by this Agreement shall be deemed to occur at 12:01 a.m. PST on the Closing Date.

Section
2.02       Manolos
Closing Deliverables. At the Closing, Manolos shall deliver to CGI the following:

(a)              
Share certificates evidencing the Shares, free and clear of all Encumbrances, duly endorsed in blank, stock powers
or other instruments of transfer duly executed in blank.

Section
2.03       CGI’s
Deliveries. At the Closing, CGI shall deliver the following to Manolos:

(a)              
The Purchase Price paid in the form of the CGI Shares, as contemplated by Section 1.02, either in certificated or electronic
form.

(b)             
A certificate of the Secretary (or other officer) of CGI certifying (i) that attached thereto are true and complete
copies of all resolutions of the board of directors of CGI authorizing the execution, delivery, and performance of this Agreement
and the Transaction Documents and the consummation of the transactions contemplated hereby and thereby, and that such resolutions
are in full force and effect, and (ii) the names, titles, and signatures of the officers of CGI authorized to sign this Agreement
and the other Transaction Documents.

ARTICLE
III

Representations and warranties of Manolos

Manolos
represents and warrants to CGI that the statements contained in this Article III are true and correct as of the date hereof. For
purposes of this Article III, “Manolos’ knowledge,” “knowledge of Manolos,” and any similar phrases
shall mean the actual or constructive knowledge of Manolos, after due inquiry.

Section
3.01       Organization and Authority of Manolos. Manolos
is an individual with full power, capacity and authority to enter into this Agreement and the other Transaction Documents to which
Manolos is a party, to carry out its obligations hereunder and thereunder, and to consummate the transactions contemplated hereby
and thereby. This Agreement and each Transaction Document constitute legal, valid, and binding obligations of Manolos enforceable
against Manolos in accordance with their respective terms.

    	2  

    	 

    

 

Section
3.02       No Conflicts or Consents. The execution, delivery,
and performance by Manolos of this Agreement and the other Transaction Documents to which it is a party, and the consummation
of the transactions contemplated hereby and thereby, do not and will not: (a) violate or conflict with any provision of any
statute, law, ordinance, regulation, rule, code, treaty, or other requirement of any Governmental Authority (collectively, “Law”)
or any order, writ, judgment, injunction, decree, determination, penalty, or award entered by or with any governmental authority
(“Governmental Order”) applicable to Manolos; (b) except with respect to State of California cannabis laws,
rules and regulations, require the consent, notice, or filing with or other action by any Person or require any permit or license
under applicable Law (“Permit”), or Governmental Order; or (c) violate or conflict with, result in the acceleration
of, or create in any party the right to accelerate, terminate, or modify any contract, lease, deed, mortgage, license, instrument,
note, indenture, joint venture, or any other agreement, commitment, or legally binding arrangement, whether written or oral, to
which Manolos is a party or by which Manolos is bound or to which any of their respective properties and assets are subject, except
with respect to the transfer restrictions and rights of first refusal binding the Shares set forth in that certain Shareholders
Agreement (as defined in Section 7.02 below).

Section
3.03        Title to the Shares by Manolos. Manolos owns
of record and beneficially all of the Shares set forth next to their name on Schedule 1 hereto and Manolos has good and
marketable title to the Shares, in each case free and clear of all Encumbrances. There are no outstanding or authorized options,
warrants, agreements, commitments, convertible securities, stock appreciation, phantom stock, profit participation, or other rights,
obligating Manolos to issue or sell any of the Shares, or any other capital stock of, or any other interest in, the Company.

Section
3.04       No Litigation. There
are no claims, actions, causes of action, demands, lawsuits, arbitrations, inquiries, audits, notices of violation, proceedings,
litigation, citations, summons, subpoenas, or investigations of any nature, whether at law or in equity pending or, to Manolos’
knowledge, threatened against or by Manolos that challenge or seek to prevent, enjoin, or otherwise delay the transactions contemplated
by this Agreement. To Manolos’ knowledge, no event has occurred that may be reasonably expected to give rise to any such
Action.

Section
3.05       No Brokers of Manolos.
No broker, finder, or investment banker is entitled to any brokerage, finder’s, or other fee or commission in connection
with the transactions contemplated by this Agreement or any other Transaction Document based upon arrangements made by or on behalf
of Manolos.

Section
3.06       Investment
Purpose. Manolos is acquiring the CGI Shares solely for its own account for investment purposes and not with
a view to, or for offer or sale in connection with, any distribution thereof or any other security related thereto within the
meaning of the Securities Act of 1933, as amended (the “Securities Act”). Manolos acknowledges that the offer
and sale of the CGI Shares are not registered under the Securities Act or any state securities laws, and that the Shares may not
be pledged, transferred, sold, offered for sale, hypothecated, or otherwise disposed of except pursuant to the registration provisions
of the Securities Act or pursuant to an applicable exemption therefrom and subject to state securities laws and regulations, as
applicable.

    	3  

    	 

    

 

Section
3.07       Restricted Securities.
Manolos understands that the CGI Shares have not been, and will not be, registered under the Securities Act, by reason of
a specific exemption from the registration provisions of the Securities Act which depends upon, among other things, the bona fide
nature of the investment intent and the accuracy of Manolos’ representations as expressed herein. Manolos understands that
the CGI Shares are “restricted securities” under applicable United States federal and state securities laws and that,
pursuant to these laws, Manolos must hold the CGI Shares indefinitely unless they are registered with the Securities and Exchange
Commission and qualified by state authorities or an exemption from such registration and qualification requirements is available.
Manolos acknowledges that CGI has no obligation to register or qualify the CGI Shares for resale. Manolos further acknowledges
that if an exemption from registration or qualification is available, it may be conditioned on various requirements including,
but not limited to, the time and manner of sale, the holding period for the CGI Shares, and on requirements relating to CGI which
are outside of Manolos’ control, and which CGI is under no obligation and may not be able to satisfy.

Section
3.08       Accredited and Sophisticated
Purchaser. Manolos is an accredited investor as defined in Rule 501(a) of Regulation D promulgated under the Securities Act.
Manolos is an investor in securities of companies in the development stage and acknowledges that Manolos is able to fend for itself,
can bear the economic risk of its investment, and has such knowledge and experience in financial or business matters that it is
capable of evaluating the merits and risks of the investment in the CGI Shares. If other than an individual, Manolos also represents
it has not been organized for the purpose of acquiring the CGI Shares.

Section
3.09       No General Solicitation.
Neither Manolos nor any of his agents or partners has either directly or indirectly, including through a broker or finder
(a) engaged in any general solicitation with respect to the offer and sale of the CGI Shares, or (b) published any advertisement
in connection with the offer and sale of the CGI Shares.

ARTICLE
IV

Representations and warranties of CGI

CGI
represents and warrants to Manolos that the statements contained in this Article IV are true and correct as of the date hereof.
For purposes of this Article IV, “CGI’s knowledge,” “knowledge of CGI,” and any similar phrases
shall mean the actual or constructive knowledge of any director or officer of CGI, after due inquiry.

Section
4.01       Organization
and Authority of CGI. CGI is a corporation duly organized, validly existing, and in good standing under the
Laws of the state of Nevada. CGI has full corporate power and authority to enter into this Agreement and the other Transaction
Documents to which CGI is a party, to carry out its obligations hereunder and thereunder, and to consummate the transactions contemplated
hereby and thereby. The execution and delivery by CGI of this Agreement and any other Transaction Document to which CGI is a party,
the performance by CGI of its obligations hereunder and thereunder, and the consummation by CGI of the transactions contemplated
hereby and thereby have been duly authorized by all requisite corporate action on the part of CGI. This Agreement and each Transaction
Document constitute legal, valid, and binding obligations of CGI enforceable against CGI in accordance with their respective terms.

    	4  

    	 

    

 

Section
4.02       Valid
Issuance of CGI Shares. The CGI Shares, when issued, sold and delivered in accordance with the terms and for
the consideration set forth in this Agreement, will be duly authorized, validly issued, fully paid and nonassessable and free
of restrictions on transfer other than restrictions on transfer under this Agreement, applicable state and federal securities
laws and liens or encumbrances created by or imposed by Manolos. Based in part on the accuracy of the representations of Manolos
in Article 3 of this Agreement and applicable federal and state securities laws, the offer, sale and issuance of the CGI
Shares to be issued pursuant to and in conformity with the terms of this Agreement will be issued in compliance with all applicable
federal and state securities laws.

Section
4.03       No Conflicts; Consents. The execution, delivery,
and performance by CGI of this Agreement and the other Transaction Documents to which it is a party, and the consummation of the
transactions contemplated hereby and thereby, do not and will not: (a) violate or conflict with any provision of the articles
of incorporation, bylaws, or other governing documents of CGI; (b) violate or conflict with any provision of any Law or Governmental
Order applicable to CGI; or (c) require the consent, notice, declaration, or filing with or other action by any Person or require
any Permit or Governmental Order.

Section
4.04       Investment Purpose. CGI is acquiring the Shares
solely for its own account for investment purposes and not with a view to, or for offer or sale in connection with, any distribution
thereof or any other security related thereto within the meaning of the Securities Act. CGI acknowledges that the offer and sale
of the Shares are not registered under the Securities Act or any state securities laws, and that the Shares may not be pledged,
transferred, sold, offered for sale, hypothecated, or otherwise disposed of except pursuant to the registration provisions of
the Securities Act or pursuant to an applicable exemption therefrom and subject to state securities laws and regulations, as applicable.

Section
4.05       Brokers.
No broker, finder, or investment banker is entitled to any brokerage, finder’s, or other fee or commission
in connection with the transactions contemplated by this Agreement or any other Transaction Document based upon arrangements made
by or on behalf of CGI.

ARTICLE
V

Covenants

Section
5.01       Confidentiality. From and after the Closing,
Manolos shall, and shall cause its Affiliates and its and their respective directors, managers, officers, employees, consultants,
counsel, accountants, and other agents (“Representatives”) to hold, in confidence any and all information,
in any form, concerning the Company, except to the extent that Manolos can show that such information: (a) is generally available
to and known by the public through no fault of Manolos, any of its Affiliates, or their respective Representatives; or (b) is
lawfully acquired by Manolos, any of its Affiliates, or their respective Representatives from and after the Closing from sources
which are not prohibited from disclosing such information by any obligation. If Manolos or any of its Affiliates or their respective
Representatives are compelled to disclose any information by Governmental Order or Law, Manolos shall promptly notify CGI in writing
and shall disclose only that portion of such information which is legally required to be disclosed. Manolos shall use reasonable
best efforts to obtain as promptly as possible an appropriate protective order or other reasonable assurance that confidential
treatment will be accorded such information.

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Section
5.02       Further Assurances. Following the Closing, each
of the parties hereto shall, and shall cause their respective Affiliates to, execute and deliver such additional documents and
instruments and take such further actions as may be reasonably required to carry out the provisions hereof and give effect to
the transactions contemplated by this Agreement and the other Transaction Documents.

ARTICLE
VI

Indemnification

Section
6.01       Indemnification by Manolos. Subject to the other
terms and conditions of this Article VII, Manolos shall indemnify and defend each of CGI and its Affiliates (including the Company)
and their respective Representatives (collectively, the “CGI Indemnitees”) against, and shall hold each of
them harmless from and against, and shall pay and reimburse each of them for, any and all Losses incurred or sustained by, or
imposed upon, CGI Indemnitees based upon, arising out of, with respect to, or by reason of:

(a)              
any inaccuracy in or breach of any of the representations or warranties of Manolos contained in this Agreement or the
other Transaction Documents; or

(b)             
any breach or non-fulfillment of any covenant, agreement, or obligation to be performed by Manolos pursuant to this
Agreement or the other Transaction Documents.

Section
6.02       Indemnification by CGI. Subject to the other
terms and conditions of this Article VII, CGI shall indemnify and defend each of Manolos and its Affiliates and their respective
Representatives (collectively, the “Manolos Indemnitees”) against, and shall hold each of them harmless from
and against, and shall pay and reimburse each of them for, any and all Losses incurred or sustained by, or imposed upon, Manolos
Indemnitees based upon, arising out of, with respect to, or by reason of:

(a)              
any inaccuracy in or breach of any of the representations or warranties of CGI contained in this Agreement or the other
Transaction Documents; or

(b)             
any breach or non-fulfillment of any covenant, agreement, or obligation to be performed by CGI pursuant to this Agreement.

Section
6.03       Indemnification
Procedures. Whenever any claim shall arise for indemnification hereunder, the party entitled to indemnification
(the “Indemnified Party”) shall promptly provide written notice of such claim to the other party (the “Indemnifying
Party”). In connection with any claim giving rise to indemnity hereunder resulting from or arising out of any Action
by a Person who is not a party to this Agreement, the Indemnifying Party, at its sole cost and expense and upon written notice
to the Indemnified Party, may assume the defense of any such Action with counsel reasonably satisfactory to the Indemnified Party.
The Indemnified Party shall be entitled to participate in the defense of any such Action, with its counsel and at its own cost
and expense. If the Indemnifying Party does not assume the defense of any such Action, the Indemnified Party may, but shall not
be obligated to, defend against such Action in such manner as it may deem appropriate, including settling such Action, after giving
notice of it to the Indemnifying Party, on such terms as the Indemnified Party may deem appropriate and no action taken by the
Indemnified Party in accordance with such defense and settlement shall relieve the Indemnifying Party of its indemnification obligations
herein provided with respect to any damages resulting therefrom. The Indemnifying Party shall not settle any Action without the
Indemnified Party’s prior written consent (which consent shall not be unreasonably withheld or delayed).

    	6  

    	 

    

 

Section
6.04       Survival.
All representations, warranties, covenants, and agreements contained herein and all related rights to indemnification
shall survive the Closing and shall remain in full force and effect until the date that is two years from the Closing Date; provided,
that the representations and warranties in Sections 3.01, 3.03, 3.05, 4.01, 4.02 and 4.05 shall survive for the applicable statute
of limitations. All covenants and agreements of the parties contained herein shall survive the Closing indefinitely or for the
period explicitly specified therein. Notwithstanding the foregoing, any claims which are timely asserted in good faith with reasonable
specificity (to the extent known at such time) and in writing by notice from the non-breaching party to the breaching party prior
to the expiration date of the applicable survival period shall not thereafter be barred by the expiration of the relevant representation
or warranty and such claims shall survive until finally resolved.

Section
6.05       Cumulative Remedies. The rights and remedies
provided for in this Article VI are cumulative and are in addition to and not in substitution for any other rights and remedies
available at Law or in equity or otherwise.

ARTICLE
VII

Miscellaneous

Section
7.01       Mutual Release.

(a)              
Effective as of the date hereof and in consideration for the Purchase Price paid to Manolos
under the Agreement, and other good and valuable consideration, and were expressly bargained for, including without limitation
the waiver of the provisions of California Civil Code Section 1542, Manolos, on behalf of itself and each of Manolos’ Affiliates,
agents, attorneys, representatives, successors, assigns and heirs (together with Manolos, each a “Manolos Releasing
Party” and collectively, the “Manolos Releasing Parties”),
hereby, irrevocably and unconditionally, fully and forever acquits, releases, covenants not to sue, and discharges and agrees
to hold harmless the Company and its Affiliates, officers, managers, directors, shareholders, members, partners, employees, agents,
attorneys, representatives, predecessors, successors, and assigns (collectively, the “Manolos Releasees”)
from any and all Claims (as defined below) which Manolos or any of the other Manolos Releasing Parties have, may have had, or
may have in the future against the Manolos Releasees, whether known or unknown, for all matters relating to, arising out of or
in connection with the status of such Manolos Releasing Party as a shareholder, member, employee, officer, manager and/or director
(or equivalent) of the Company from the beginning of time through the Effective Date. Notwithstanding the foregoing, none of the
Manolos Releasing Parties releases or discharges any (i) accrued compensation or other benefits due such Person as an employee
or independent contractor of the Company, (ii) any rights under the Agreement hereof to which such Person is entitled, (iii) such
Manolos Releasing Party’s rights to indemnification under the Company’s organizational documents in effect on the
Effective Date for having served as an officer, manager or director of the Company, or (iv) such Manolos Releasing Party’s
rights to indemnification due to acts of gross negligence, fraud, deception or acts of ill intent by a Manolos Releasee.

    	7  

    	 

    

 

(b)             
Effective as of the date hereof and in consideration for Manolos entering into this Agreement
and selling its ownership interests in Company, which CGI and Company acknowledge will result in substantial benefits, and other
good and valuable consideration, and were expressly bargained for, including without limitation the waiver of the provisions of
California Civil Code Section 1542, Company, on behalf of itself and its Affiliates, agents, attorneys, representatives, successors,
assigns and heirs (together with Company, each a “Company Releasing Party”
and collectively, the “Company Releasing Parties”), hereby, irrevocably
and unconditionally, fully and forever acquits, releases, covenants not to sue, and discharges and agrees to hold harmless the
Manolos and its Affiliates, officers, managers, directors, shareholders, members, partners, employees, agents, attorneys, representatives,
predecessors, successors, and assigns (collectively, the “Company Releasees”)
from any and all Claims (as defined below) which Company or any of the other Company Releasing Parties have, may have had, or
may have in the future against the Company Releasees, whether known or unknown, for all matters relating to, arising out of or
in connection with the status of such Company Releasing Party as a shareholder, member, employee, officer, manager and/or director
(or equivalent) of the Company from the beginning of time through the Effective Date. Notwithstanding the foregoing, none of the
Company Releasing Parties releases or discharges such Company Releasing Party’s rights to indemnification due to acts of
gross negligence, fraud, deception or acts of ill intent by a Company Releasee.

(c)              
MANOLOS AND COMPANY SPECIFICALLY WAIVE THE PROVISION OF CALIFORNIA CIVIL CODE SECTION 1542,
WHICH PROVIDES AS FOLLOWS:

“A
GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER
FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT
WITH THE DEBTOR OR RELEASED PARTY.”

(d)             
Each of Manolos and Company hereby irrevocably covenants to refrain from asserting any Claim
or demand, or commencing, instituting or causing to be commenced, any Claims of any kind against any of the Manolos Releasees
or Company Releases, respectively, purported to be released hereby. Each Manolos Releasing Party shall be solely liable for 100%
(and no other Manolos Releasing Party shall have any liability with respect thereto) of any and all losses incurred by the Manolos
Releasees to the extent resulting from the assertion by such Manolos Releasing Party of any Claim purported to be released hereby.
Each Company Releasing Party shall be solely liable for 100% (and no other Company Releasing Party shall have any liability with
respect thereto) of any and all losses incurred by the Company Releasees to the extent resulting from the assertion by such Company
Releasing Party of any Claim purported to be released hereby.

    	8  

    	 

    

 

(e)              
For the purposes of this Section 7.01, the terms “Claim”
or “Claims” mean any and all actions, claims, charges, demands, liabilities,
losses, damages, obligations, costs and expenses, interest, awards, judgments and penalties (including, without limitation reasonable
attorneys’ fees and court costs) actually suffered or incurred by any Manolos Releasing Party or Company Releasing Party
(as applicable), including in any action brought or otherwise initiated by any Manolos Releasing Party or Company Releasing Party
(as applicable), of any nature whatsoever whether or not now known, claimed or suspected, fixed or contingent, arising or resulting
from any manner of action or actions, cause or causes of action in law or in equity, judgments, suits, debts, liens, contracts,
torts, covenants, fiduciary duties, responsibilities, agreements, promises, liabilities, claims, demands and losses, in each case,
arising on or before the Effective Date.

Section
7.02            
Transfer of Obligations on Shares.

(a)              
 The Shares are subject to the rights and obligations of shareholders of the Company as set forth in the Shareholders
Agreement, dated June 5, 2020, (as amended from time to time, the “Shareholders Agreement”),
by and among Alan Tsai, Edward Manolos, Cannabis Global, Inc., Betterworld Ventures, LLC, Marijuana Company of America, Inc. and
the Company. Transfer of the Shares from the Manolos to CGI is conditioned upon CGI’s acceptance of those rights and obligations
and execution of the Joinder Agreement contemplated by the Shareholders Agreement, a form of which is attached hereto as Exhibit
A.

(b)             
The Shares are subject to the rights of Betterworld Ventures, LLC, a shareholder of the
Company (“BWV”) and the obligations of the Company and certain of its shareholders under Section 6.01 of the
Common Stock Purchase Agreement among the Company, BWV and those shareholders. A copy of Section 6.01 is attached hereto as Exhibit B.
Transfer of the Shares from the Manolos to CGI is conditioned upon CGI’s acknowledgement and acceptance of the terms of
Section 6.01 as indicated on Exhibit B.

Section
7.03       Expenses. All costs and expenses incurred in
connection with this Agreement and the transactions contemplated hereby shall be paid by the party incurring such costs and expenses.

Section
7.04       Notices. All notices, claims, demands, and other
communications hereunder shall be in writing and shall be deemed to have been given: (a) when delivered by hand (with written
confirmation of receipt); (b) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested);
(c) on the date sent by facsimile or email of a PDF document (with confirmation of transmission) if sent during normal business
hours of the recipient, and on the next business day if sent after normal business hours of the recipient; or (d) on the third
day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid, if sent to the respective
parties at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance
with this Section 7.04):

    	9  

    	 

    

 

	If
    to Manolos:	[address]

        [address]

        Email: eddiemanolos@gmail.com

        Attention: Eddie Manolos

         

	If
    to CGI:	520 S. Grand Ave., Ste. 320

        Los Angeles, CA 90071

        Email: arman@cannabisglobalinc.com

        Attention: Arman Tabatabaei

         

Section
7.05       Interpretation; Headings. This Agreement shall
be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting an
instrument or causing any instrument to be drafted. The headings in this Agreement are for reference only and shall not affect
the interpretation of this Agreement.

Section
7.06       Severability. If any term or provision of this
Agreement is invalid, illegal, or unenforceable in any jurisdiction, such invalidity, illegality, or unenforceability shall not
affect any other term or provision of this Agreement.

Section
7.07       Entire Agreement. This Agreement and the other
Transaction Documents constitute the sole and entire agreement of the parties to this Agreement with respect to the subject matter
contained herein and therein, and supersede all prior and contemporaneous understandings and agreements, both written and oral,
with respect to such subject matter. In the event of any inconsistency between the statements in the body of this Agreement and
those in the other Transaction Documents, any exhibits, and the Disclosure Schedules (other than an exception expressly set forth
as such in the Disclosure Schedules), the statements in the body of this Agreement will control.

Section
7.08       Successors and Assigns. This Agreement shall
be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns. Neither
party may assign its rights or obligations hereunder without the prior written consent of the other party, which consent shall
not be unreasonably withheld or delayed. No assignment shall relieve the assigning party of any of its obligations hereunder.

Section
7.09       Amendment and Modification; Waiver. This Agreement
may only be amended, modified, or supplemented by an agreement in writing signed by each party hereto. No waiver by any party
of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the party so waiving.
No failure to exercise, or delay in exercising, any right or remedy arising from this Agreement shall operate or be construed
as a waiver thereof; nor shall any single or partial exercise of any right or remedy hereunder preclude any other or further exercise
thereof or the exercise of any other right or remedy.

    	10  

    	 

    

 

Section
7.10       Governing Law; Submission to Jurisdiction. This
Agreement shall be governed by and construed in accordance with the internal laws of the State of California without giving effect
to any choice or conflict of law provision or rule (whether of the State of California or any other jurisdiction). Any legal suit,
action, proceeding, or dispute arising out of or related to this Agreement, the other Transaction Documents, or the transactions
contemplated hereby or thereby may be instituted in the federal courts of the United States of America or the courts of the State
of California in each case located in the county of San Diego, and each party irrevocably submits to the exclusive jurisdiction
of such courts in any such suit, action, proceeding, or dispute.

Section
7.11       Counterparts. This Agreement may be executed
in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement.
A signed copy of this Agreement delivered by email or other means of electronic transmission shall be deemed to have the same
legal effect as delivery of an original signed copy of this Agreement.

(signature
page follows)

 

 

 

 

    	11  

    	 

    

IN WITNESS
WHEREOF, the parties hereto have caused this Stock Purchase Agreement to be executed as of the date first written above individually
or by their respective officers thereunto duly authorized.

 

	 	Edward Manolos

         

	 	/s/
                                         Edward Manolos

         

	 	Cannabis Global,
        Inc.

         

	 	By:
    /s/ Arman Tabatabaei 

    Name: Arman Tabatabaei

    Title:   CEO

 

 

 

    	12  

    	 

    

SCHEDULE
1

The
Shares

 

 

	Edward Manolos	266,666 shares
of Common Stock

 

 

 

    	  

    	 

    

EXHIBIT
A

JOINDER
AGREEMENT

Reference
is hereby made to the Shareholders Agreement, dated June 5, 2020, (as amended from time to time, the “Shareholders Agreement”),
by and among Alan Tsai, Edward Manolos, Cannabis Global, Inc., Betterworld Ventures, LLC, Marijuana Company of America, Inc. and
Natural Plant Extract of California, Inc., a California corporation (the “Company”). Pursuant to and in accordance
with Sections 3.01(d) and 4.01(e) of the Shareholders Agreement, the undersigned hereby agrees that upon the execution
of this Joinder Agreement, it shall become a party to the Shareholders Agreement and shall be fully bound by, and subject to,
all of the covenants, terms and conditions of the Shareholders Agreement as though an original party thereto and shall be deemed
to be a Shareholder of the Company for all purposes thereof.

Capitalized
terms used herein without definition shall have the meanings ascribed thereto in the Shareholders Agreement.

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of January 27, 2021.

 

	 	Cannabis Global,
        Inc.

         

	 	By:
    /s/ Arman Tabatebaei     

    Name: Arman Tabatabaei

    Title:   CEO

 

    	B-1  

    	 

    

 

 

EXHIBIT
B

 

SECTION
6.01 TO COMMON STOCK PURCHASE AGREEMENT

 

Section
6.01Treatment of Existing Debt. As of the Closing Date, Company has outstanding debt
of approximately $1,322,357 pursuant to the instruments, loans and expense reimbursement obligations described in Nos. 1-9 of
Section 4.06 of the Disclosure Schedule (the “Outstanding Debt”).
The Parties wish to clarify the treatment and payment obligations for the Outstanding Debt as of the Closing Date and thereafter
as follows:

(a)              
The Outstanding Debt is an obligation of Company and repayment shall be made by Company.

(b)             
The Outstanding Debt was incurred prior to the Closing Date and prior to CGI’s investment
in and involvement with Company.

(c)              
At Closing, the Shares acquired by CGI shall equal forty percent (40%) (the “CGI
Percentage”) of Company’s outstanding capital stock on a fully diluted basis,
taking into account outstanding options, warrants and other promises of equity issued to any Person (“Fully-Diluted
Equity”). 

(d)             
From time to time the CGI Percentage shall be adjusted to the extent CGI acquires additional
shares, or shares are issued to other investors, employees, consultants, partners or shareholders.

(e)              
To the extent Company is unable to repay the Outstanding Debt when due and the applicable creditors commence a default
action against Company, CGI at its option may unilaterally negotiate a settlement and pay off such Outstanding Debt (“Pay-Off
Amount”) and increase its common stock position in Company based on a valuation of Company’s business performed
by an independent third-party appraisal firm experienced in valuations of companies engaged in cannabis manufacturing and distribution[1]
(the “Valuation”), with the price per share of Company’s capital stock and CGI’s increased
equity position determined according to the following formulae:

Valuation
/ Fully-Diluted Equity = Price Per Share

Pay-Off
Amount / Price Per Share = New Shares to CGI

 

[1]
Such independent third-party appraisal
firm to be mutually agreed between Company and CGI. In the event the Parties are unable to agree on an independent third-party
appraiser within fifteen (15) days of first notice, the appraisal issue shall be submitted to JAMS’ San Diego office for
the appointment by JAMS of such independent qualified appraiser to decide, without any right of appeal and after a hearing
and the submission of evidence, the appraisal price.

 

    	B-1  

    	 

    

 

As
an example, assume CGI pays off all the Outstanding Debt. If the appraiser returns a valuation of Company’s business at
$6,000,000 and there are 6,000,000 shares outstanding on a fully-diluted based, new shares issued to CGI would be 1,322,357 based
on the following:

$6,000,000
/ 6,000,000 = $1.00 per share

$1,322,357
/ $1.00 = 1,322,357 new shares

(f)               
In any fiscal year that Company determines to distribute to shareholders a dividend or other distribution, Company
profits shall be first be calculated without regard to Outstanding Debt payments made by Company in that fiscal year on the Outstanding
Debt (“Net Profits Before Debt”). If there are sufficient Net Profits Before Debt, such dividend or other distribution
shall be made as follows:

(i)                
First, the CGI Percentage of such Net Profits Before Debt approved for distribution shall go to CGI.

(ii)             
Second, the remaining Net Profits approved for distribution shall be reduced by payments for that prior fiscal year
on the Outstanding Debt (“Net Profits After Debt”); and

(iii)           
Third, any remaining Net Profits After Debt after taking into account subparagraphs (f)(i) and (f)(ii) above shall
be distributed to the other shareholders.

As
an example, assume:

		·	In
                                         year 1 Company is profitable and the Board of Directors wishes to declare a cash dividend
                                         to shareholders;

		·	Company
                                         has paid $50,000 in Outstanding Debt payments during year 1; and

		·	Company
                                         has $100,000 in Net Profits Before Debt.

The
proposed dividends would be paid as follows:

First,
CGI would receive $40,000 based on $100,000 Net Profits Before Debt multiplied by the CGI Percentage (currently 40%);

Second,
the remaining $60,000 available would be reduced by the amount of Outstanding Debt payments in year 1 ($50,000) leaving $10,000
as Net Profits After Debt; and

Third,
the $10,000 Net Profits After Debt would be distributed to the other shareholders of Company as a cash dividend, pro rata.

(g)              
 Upon any Sale Event (as defined below) of Company:

    	B-2  

    	 

    

 

(i)                
The Shares shall have a liquidation preference that calculates net proceeds to shareholders prior to pay-off of the
Outstanding Debt and distributes to CGI the CGI Percentage of such pre-Outstanding Debt net proceeds prior to payments to any
other shareholder; and

(ii)             
The other shareholders shall receive the remainder, if any, of the proceeds after taking into account pay-off of the
Outstanding Debt.

As
an example, assume if in year 5:

		·	there
                                         was still $500,000 of Outstanding Debt;

		·	The
                                         Company was sold for $6,000,000;

		·	The
                                         CGI Percentage is still 40%; and

		·	After
                                         paying off all debts and obligations including the Outstanding Debt, there was $4,000,000
                                         available for distribution to the shareholders.

The
proceeds to shareholders would be paid as follows:

First,
CGI’s distribution of net proceeds would assume the $500,000 Outstanding Debt did not exist and CGI would receive $1,800,000
based on the following:

($4,000,000
+ $500,000) * 0.40 = $1,800,000

This
amount = 45% of the $4,000,000 actually available for distribution

Second,
the other shareholders would share $2,200,000 based on the following:

$4,000,000
- $1,800,000 = $2,200,000

This
amount = 55% of the $4,000,000 available for distribution

(h)             
Within forty-five (45) days of closing, Company shall amend its charter to reflect paragraphs (f) and (g) above.

(i)                
Within thirty (30) days of Closing, Company shall make good faith efforts to renegotiate
the Outstanding Debt to extend maturity dates, implement reasonable payment schedules, and eliminate references to debt payments
being made from a percentage of net profits.

For purposes
of this Section 6.01, “Sale Event” means any of:

A.               
a merger or consolidation in which (i) Company is a constituent party or (ii)
a subsidiary of Company is a constituent party and Company issues shares of its capital stock pursuant to such merger or consolidation,
except any such merger or consolidation involving Company or a subsidiary in which the shares of capital stock of Company outstanding
immediately prior to such merger or consolidation continue to represent, or are converted into or exchanged for equity securities
that represent, immediately following such merger or consolidation, at least a majority, by voting power, of the equity securities
of (1) the surviving or resulting party or (2) if the surviving or resulting party is a wholly owned subsidiary of another party
immediately following such merger or consolidation, the parent of such surviving or resulting party; provided that,
for the purpose of this definition, all shares of common stock issuable upon exercise of options outstanding immediately prior
to such merger or consolidation or upon conversion of preferred outstanding immediately prior to such merger or consolidation
shall be deemed to be outstanding immediately prior to such merger or consolidation and, if applicable, deemed to be converted
or exchanged in such merger or consolidation on the same terms as the actual outstanding shares of common stock are converted
or exchanged; or

 

    	B-3  

    	 

    

 

B.                
the sale, lease, transfer, exclusive license or other disposition, in a single transaction
or series of related transactions, by Company or any subsidiary of Company of all or substantially all the assets of Company and
its subsidiaries taken as a whole, or, if substantially all of the assets of Company and its subsidiaries taken as a whole are
held by such subsidiary or subsidiaries, the sale or disposition (whether by merger or otherwise) of one or more subsidiaries
of Company, except where such sale, lease, transfer or other disposition is to Company or one or more wholly owned subsidiaries
of Company.

 

ACKNOWLEDGED AND ACCEPTED:

 

	Cannabis Global,
        Inc.

         

	By:
    /s/ Arman Tabatabaei     

    Name: Arman Tabatabaei

    Title:   CEO

 

 

 

    	B-4

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