Document:

Exhibit
10.2

 

FORM
OF LEAK-OUT AGREEMENT

 

THIS
LEAK-OUT AGREEMENT (this “Agreement”)
is made and entered into as of August __, 2020, by and among U.S. Gold Corp. (the “Parent”) and the undersigned
stockholder (the “Stockholder”).

 

RECITALS

 

A.
WHEREAS, Parent, Gold King Acquisition Corp., a wholly-owned subsidiary of Parent (“Merger Sub”) and
Northern Panther Resources Corporation (the “Company”) are concurrently entering into an agreement and plan
of merger, dated as of the date hereof (as amended from time to time, the “Merger Agreement”), pursuant to
which Merger Sub shall be merged with and into Company, with Company continuing as the surviving corporation thereafter (the “Merger”)
and continuing its existence as a wholly-owned subsidiary of Parent;

 

B.
WHEREAS, the Merger was consummated simultaneously with the execution of the Merger Agreement;

 

C.
WHEREAS, as an inducement to enter into the Merger Agreement, and as one of the conditions to the consummation of the Merger,
the Stockholder has agreed to enter into this Agreement; and

 

D.
WHEREAS, the Stockholder was a former stockholder of the Company and has received as consideration for the Merger shares
of Parent Common Stock (as defined in the Merger Agreement) and/or shares of Parent Preferred Stock (as defined in the Merger
Agreement), which are convertible into shares of Parent Common Stock (the Parent Common Stock received pursuant to the Merger
together with any shares of Parent Common Stock that may be issued upon conversion of the Parent Preferred Stock received pursuant
to the Merger, the “Merger Shares”);

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
agree as follows:

 

1.
Defined Terms. Capitalized terms used herein but not otherwise defined herein shall have the meanings given such terms
in the Merger Agreement.

 

2.
Representations and Warranties of Stockholder. Stockholder represents and warrants to the Company:

 

(a)
The Stockholder is a natural person, corporation, limited partnership, limited liability company, or limited company. If Stockholder
is a corporation, limited partnership, limited liability company, or limited company, Stockholder is an entity duly organized,
validly existing and in good standing under the laws of the jurisdiction in which it is incorporated, organized or constituted.
The Stockholder has all necessary power and authority to execute and deliver this Agreement and to consummate the transactions
contemplated hereby. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby
by the Stockholder have been duly authorized by all necessary action on the part of the Stockholder and no other proceedings on
the part of the Stockholder are necessary to authorize this Agreement, or to consummate the transactions contemplated hereby.

 

    	 

     

    

 

(b)
This Agreement has been duly executed and delivered by the Stockholder and constitutes a valid and binding obligation of the Stockholder,
enforceable against the Stockholder in accordance with its terms, except to the extent such enforcement is limited by bankruptcy,
insolvency, fraudulent transfer, reorganization, moratorium and similar legal requirements of general applicability relating to
or affecting creditors’ rights and by general equitable principles.

 

(c)
The execution and delivery of this Agreement and the performance by the Stockholder of the covenants and obligations hereunder
will not result in any breach or violation of or be in conflict with or constitute a default under any term of any agreement,
judgment, injunction, order, decree, law, regulation or arrangement to which such the Stockholder is a party or by which the Stockholder
(or any of his, her, or its assets) is bound.

 

3.
Leak-Out. For so long as the Stockholder owns any Merger Shares, she, he or it will not, directly or indirectly, without
the prior written consent of the Parent:

 

(a)
sell any Merger Shares on the Nasdaq Capital Market or securities exchange or trading market where the Merger Shares are traded
(the “Trading Market”) in excess of 10% of the daily trading volume for the Parent Common Stock on the Trading
Market on such trading day; and

 

(b)
otherwise sell, grant an option for the purchase or sale of, transfer, pledge, assign, hypothecate, distribute or otherwise encumber
or dispose of any Merger Shares or any beneficial interest therein (collectively a “Transfer”), unless, as
a precondition to such Transfer, the transferee agrees in writing to be subject to the terms of this Agreement with respect to
the Merger Shares subject to the Transfer as if such transferee had been originally named as the Stockholder under this Agreement.

 

4.
Miscellaneous Provisions.

 

(a)
Amendments, Modifications and Waivers. No amendment, modification or waiver in respect of this Agreement shall be effective
against any party unless it shall be in writing and signed by the Stockholder and the Parent.

 

(b)
Entire Agreement. This Agreement constitutes the entire agreement among the parties to this Agreement and supersedes all
other prior agreements and understandings, both written and oral, between the parties with respect to the subject matter hereof.

 

(c)
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada, without
regard to any applicable principles of conflicts of law thereof. The parties submit to the exclusive jurisdiction of the state
and federal courts located in Las Vegas, Nevada for any action, dispute or proceeding arising out of this Agreement.

 

(d)
Assignment and Successors. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit
of the parties hereto, their respective successor and permitted assigns. This Agreement and all the provisions hereof may not
be assigned by the Stockholder or the Parent without the prior written consent of the other party; provided, however, this Agreement
shall be binding on the transferee of any Transfer of Merger Shares.

 

    	2

     

    

 

(e)
No Third Party Rights. Nothing in this Agreement, express or implied, is intended to or shall confer upon any Person (other
than the parties hereto) any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

 

(g)
Severability. If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction,
the other provisions of this Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable
only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable.

 

(h)
Specific Performance; Injunctive Relief. The Stockholder acknowledges that the Parent may be irreparably harmed and that
there may be no adequate remedy at law for a breach of any of the covenants or agreements of the Stockholder set forth in this
Agreement. Therefore, the Stockholder hereby agrees that, in addition to any other remedies that may be available to the Parent
upon any such breach, the Parent shall have the right to seek specific performance, injunctive relief or any other remedies available
to such party at law or in equity.

 

(i)
Notices. All notices, consents, requests, claims, demands and other communications under this Agreement shall be in writing
(which shall include communications by e-mail) and shall be delivered (a) in person or by courier or overnight service, or (b)
by e-mail with a copy delivered as provided in clause (a):

 

If
to the Parent:

 

U.S.
Gold Corp.

1910
E. Idaho Street, Suite 102-Box 604

Elko,
NV 89801

Attention:
Edward Karr, Chief Executive Officer

E-mail:
ek@usgoldcorp.gold

 

If
to a Stockholder:

 

At
the address and email of the Stockholder set out

under
its signature on the signature page hereof

 

or
to such other address as the parties hereto may designate in writing to the other in accordance with this Section 4(i). Any party
may change the address to which notices are to be sent by giving written notice of such change of address to the other parties
in the manner above provided for giving notice. If delivered personally or by courier, the date on which the notice, request,
instruction or document is delivered shall be the date on which such delivery is made and if delivered by e-mail transmission
or mail as aforesaid, the date on which such notice, request, instruction or document is received shall be the date of delivery.

 

(j)
Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed an original and all
of which shall constitute one and the same instrument, and shall become effective when counterparts have been signed by each of
the parties and delivered to the other parties; it being understood that all parties need not sign the same counterpart. Transmission
of an executed signature page by e-mail or other electronic means is as effective as a manually executed counterpart of this Agreement.

 

(k)
Headings. The headings contained in this Agreement are for the convenience of reference only, shall not be deemed to be
a part of this Agreement and shall not be referred to in connection with the construction or interpretation of this Agreement.

 

[Signatures
on the Following Page]

 

    	3

     

    

 

IN
WITNESS WHEREOF, the parties have executed this Leak-Out Agreement as of the date first written above.

 

	 	PARENT:
	 	 	 
	 	U.S.
    GOLD CORP.
	 	 	         
	 	By:	 
	 	Name: 	 
	 	Title:	

 

    	[Signature Page to Leak-Out Agreement]

                                                                                                                                                                                                                                                        

    	 

    

 

IN
WITNESS WHEREOF, the parties have executed this Leak-Out Agreement as of the date first written above.

 

	 	STOCKHOLDER:
	 	 	                         
	 	[________________]
	 	 	 
	 	By:
    	 
	 	Name:
    	 
	 	Title:
    	 
	 	Address:	 
	 	 	 
	 	 	 
	 	Email:	 

 

    	[Signature Page to Leak-Out Agreement]Exhibit
10.3

 

SECURITIES
PURCHASE AGREEMENT

 

This
SECURITIES PURCHASE AGREEMENT (the “Agreement”) is dated as of August 10, 2020 by and among U.S. Gold
Corp., a Nevada corporation (the “Company”) and each of the purchasers identified on the signature pages
hereto and such purchasers’ respective successors and assigns (individually, a “Purchaser” and
collectively, the “Purchasers”).

 

The
parties hereto agree as follows:

 

Article
I.

Purchase
and Sale of COMMON Stock

 

Section
1.01 Purchase and Sale of Stock. Upon the following terms and conditions, the Company shall issue and sell at the Closing
(as defined below), and the Purchasers, severally and not jointly, agree to purchase at the Closing, an aggregate of up to $5,530,004
of shares of the Company’s Series I Convertible Preferred Stock, par value $0.001 per share (the “Preferred
Stock”), with an aggregate number of shares of Preferred Stock for each Purchaser equal to that number of shares
as is set forth on each such Purchaser’s signature page hereto (collectively, the “Shares”) and
5-year warrants (the “Warrants”) to a purchase a number of shares of the Company’s common stock,
par value $0.001 per share (the “Common Stock”) as provided in Section 1.03 below, at a price per Share
equal to $6.00 per share (the “Per Share Purchase Price,” and such amounts in the aggregate, the “Purchase
Price”). The Company and the Purchasers are executing and delivering this Agreement in accordance with and in reliance
upon the exemption from securities registration afforded by Rule 506 of Regulation D (“Regulation D”)
as promulgated by the United States Securities and Exchange Commission (the “Commission”) under the
Securities Act of 1933, as amended (the “Securities Act”). The Certificate of Designation of the Rights,
Powers, Preferences, Privileges and Restrictions of the Preferred Stock (the “Certificate of Designation”)
is attached hereto as Exhibit A and the form of Warrant is attached hereto as Exhibit B.

 

Section
1.02 Closing.

 

(a)
On the closing date (the “Closing Date”), upon the terms and subject to the conditions set forth herein,
substantially concurrent with the execution and delivery of this Agreement by the parties hereto, the Company agrees to sell at
the closing (the “Closing”), and each Purchaser, severally and not jointly, agrees to purchase at the
Closing, the number of Shares and Warrants set forth on each such Purchaser’s
signature page hereto for an aggregate subscription price equal to such number of
Shares multiplied by the Per Share Purchase Price (as to each Purchaser, the “Subscription
Amount”). Each Purchaser purchasing Shares on the Closing Date
shall deliver to the Company such Purchaser’s Subscription Amount by wire transfer of immediately available funds in accordance
with the Company’s written wire instructions, and the Company shall deliver to each Purchaser its Shares deliverable at
the Closing. Upon satisfaction of the covenants and conditions set forth in Sections 1.03 and 1.04,
the Closing shall occur at the offices of Haynes and Boone, LLP, 30 Rockefeller Plaza, 26th Floor, New York, New York
10112 or such other location as the parties shall mutually agree.

 

Section
1.03 Deliveries.

 

(a)
On or prior to the Closing, the Company shall deliver
or cause to be delivered to each Purchaser purchasing the shares of Preferred
Stock on the Closing Date each of the following:

 

(i)
this Agreement duly executed by the Company;

 

(ii)
evidence of the issuance of the Shares in “book entry” form;

 

(iii)
a Warrant exercisable for a number of shares of Common Stock equal to 100% of the number of shares of Common Stock issuable upon
conversion of the Preferred Stock being acquired by such Purchaser, with an exercise price per share equal to the Per Share Purchase
Price.

 

    	 	 	 

     

    

 

(b)
On or prior to the Closing Date, each Purchaser purchasing Preferred Stock on the
Closing Date shall deliver or cause to be delivered to the Company the following:

 

(i)
this Agreement duly executed by such Purchaser; and

 

(ii)
such Purchaser’s Subscription Amount by wire transfer to the account specified in writing by the Company.

 

Section
1.04 Closing Conditions.

 

(a)
The obligations of the Company hereunder in connection with the Closing are subject to the following conditions being met:

 

(i)
the accuracy in all material respects on the Closing Date of the representations and warranties of
the Purchasers contained herein (unless as of a specific date therein in which
case they shall be accurate in all material respects as of such date);

 

(ii)
all obligations, covenants and agreements of each Purchaser required to be performed
at or prior to the Closing Date shall have been performed; and

 

(iii)
the delivery by each Purchaser of the items set forth in Section 1.03(b) of this Agreement.

 

(b)
The respective obligations of the Purchasers hereunder in connection with the Closing are subject to the following conditions
being met:

 

(i)
the accuracy in all material respects when made and on the Closing Date of the representations
and warranties of the Company contained herein (unless as of a specific date therein
in which case they shall be accurate in all material respects as of such date);

 

(ii)
all obligations, covenants and agreements of the Company required to be performed at or prior
to the Closing Date shall have been performed;

 

(iii)
the delivery by the Company of the items set forth in Section 1.03(a) of
this Agreement.

 

Article
II.

Representations
and Warranties

 

Section
2.01 Representations and Warranties of the Company. The Company hereby represents and warrants to the Purchasers, as of
the date hereof, as follows:

 

(a)
Organization, Good Standing and Power. The Company is a corporation duly incorporated, validly existing and in good standing
under the laws of the State of Nevada and has the requisite corporate power to own, lease and operate its properties and assets
and to conduct its business as it is now being conducted. The Company is duly qualified as a foreign corporation to do business
and is in good standing in every jurisdiction in which the nature of the business conducted or property owned by it makes such
qualification necessary except for any jurisdiction(s) (alone or in the aggregate) in which the failure to be so qualified will
not have material adverse effect on the business, operations, assets, properties, prospects or financial condition of the Company,
and/or any condition, circumstance, or situation that would prohibit or otherwise interfere with the ability of the Company to
perform any of its obligations under this Agreement in any material respect (each, a “Material Adverse Effect”).

 

    	 	-2 -	 

     

    

 

(b)
Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and perform this
Agreement and to issue and sell the Securities (as defined below) in accordance with the terms hereof and otherwise carry out
its obligations hereunder. The execution, delivery and performance of this Agreement by the Company and the consummation by it
of the transactions contemplated hereby have been duly and validly authorized by all necessary corporate action, and no further
consent or authorization of the Company or its Board of Directors or stockholders is required. This Agreement has been duly executed
and delivered by the Company. This Agreement and the Warrants constitute valid and binding obligations of the Company enforceable
against the Company in accordance with their respective terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, liquidation, conservatorship, receivership or similar laws relating to, or affecting generally
the enforcement of, creditor’s rights and remedies or by other equitable principles of general application.

 

(c)
Issuance of Securities. The Shares to be issued at the Closing have been duly authorized by all necessary corporate action
and the Shares, when paid for or issued in accordance with the terms hereof, shall be validly issued and outstanding, fully paid
and nonassessable. The shares of Common Stock, issuable upon conversion of the shares of Preferred Stock (the “Conversion
Shares”) will be, upon conversion of the Preferred Stock in accordance with the Certificate of Designation, duly
authorized, validly issued, fully paid and non-assessable. The shares of Common Stock issuable upon exercise of the Warrants (the
“Warrant Shares”) will be, upon exercise of the warrants in accordance with their terms, duly authorized,
validly issued, fully paid and non-assessable. The Shares, the Warrants, the Conversions and the Warrant Shares are collectively
referred to herein as the “Securities.”

 

(d)
No Conflicts. The execution, delivery and performance of this Agreement by the Company and the consummation by the Company
of the transactions contemplated herein do not and will not (i) conflict with or violate any provision of the Company’s
Certificate of Incorporation or Bylaws, (ii) conflict with, or constitute a default (or an event which with notice or lapse of
time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation
of, any agreement, mortgage, deed of trust, indenture, note, bond, license, lease agreement, instrument or obligation to which
the Company is a party or by which it or its properties or assets are bound, (iii) create or impose a lien, mortgage, security
interest, charge or encumbrance of any nature on any property of the Company under any agreement or any commitment to which the
Company is a party or by which the Company is bound or by which any of its properties or assets are bound or (iv) result in a
violation of any federal, state, local or foreign statute, rule, regulation, order, judgment or decree (including federal and
state securities laws and regulations) applicable to the Company or by which any property or asset of the Company are bound or
affected, except, in all cases other than violations pursuant to clause (i) above, for such conflicts, defaults, terminations,
amendments, accelerations, cancellations and violations as would not, individually or in the aggregate, have or reasonably be
expected to have a Material Adverse Effect.

 

Section
2.02 Representations and Warranties of the Purchasers. Each of the Purchasers hereby makes the following representations
and warranties to the Company with respect solely to itself and not with respect to any other Purchaser:

 

(a)
Organization and Standing of the Purchasers. If the Purchaser is an entity, such Purchaser is a corporation, limited liability
company or partnership duly incorporated or organized, validly existing and in good standing under the laws of the jurisdiction
of its incorporation or organization.

 

(b)
Authorization and Power. Each Purchaser has the requisite power and authority to enter into and perform this Agreement
and to purchase the Securities being sold to such Purchaser hereunder. This Agreement has been duly authorized, executed and delivered
by such Purchaser and constitutes, or shall constitute when executed and delivered, a valid and binding obligation of such Purchaser
enforceable against such Purchaser in accordance with the terms thereof, except as such enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium, liquidation, conservatorship, receivership or similar laws relating to, or
affecting generally the enforcement of, creditor’s rights and remedies or by other equitable principles of general application.

 

(c)
Purchase for Own Account. Each Purchaser is acquiring the Securities solely for its own account and not with a view to
or for sale in connection with distribution. Each Purchaser does not have a present intention to sell the Securities, nor a present
arrangement (whether or not legally binding) or intention to effect any distribution of the Securities to or through any person
or entity. Each Purchaser acknowledges that it is able to bear the financial risks associated with an investment in the Securities
and that it has been given full access to such records of the Company and to the officers of the Company and received such information
as it has deemed necessary or appropriate to conduct its due diligence investigation and has sufficient knowledge and experience
in investing in companies similar to the Company in terms of the Company’s stage of development so as to be able to evaluate
the risks and merits of its investment in the Company.

 

    	 	-3 -	 

     

    

 

(d)
Status of Purchasers. Such Purchaser is an “accredited investor” as defined in Rule 501 of Regulation D promulgated
under the Securities Act. Such Purchaser is not required to be registered as a broker-dealer under Section 15 of the Exchange
Act and such Purchaser is not a broker-dealer.

 

(e)
Opportunities for Additional Information. Each Purchaser acknowledges that it has received and carefully reviewed the Company’s
public filings with the U.S. Securities and Exchange Commission available at www.sec.gov. Each Purchaser acknowledges that such
Purchaser has had the opportunity to ask questions of and receive answers from, or obtain additional information from, the executive
officers of the Company concerning the financial and other affairs of the Company, and to the extent deemed necessary in light
of such Purchaser’s personal knowledge of the Company’s affairs, such Purchaser has asked such questions and received
answers to the full satisfaction of such Purchaser, and such Purchaser desires to invest in the Company. Neither such inquiries
nor any other investigation conducted by or on behalf of such Purchaser or its representatives or counsel shall modify, amend
or affect such Purchaser’s right to rely on the truth, accuracy and completeness of the Company’s representations
and warranties contained in this Agreement.

 

(f)
No General Solicitation. Each Purchaser acknowledges that the Securities were not offered to such Purchaser by means of
any form of general or public solicitation or general advertising, or publicly disseminated advertisements or sales literature,
including (i) any advertisement, article, notice or other communication published in any newspaper, magazine, or similar media,
or broadcast over television or radio or (ii) any seminar or meeting to which such Purchaser was invited by any of the foregoing
means of communications.

 

(g)
Restricted Securities. Such Purchaser understands that the Securities must be held indefinitely unless they are registered
under the Securities Act or an exemption from registration is available.

 

(h)
General. Such Purchaser understands that the Securities are being offered and sold in reliance on a transactional exemption
from the registration requirement of federal and state securities laws and the Company is relying upon the truth and accuracy
of the representations, warranties, agreements, acknowledgments and understandings of such Purchaser set forth herein in order
to determine the applicability of such exemptions and the suitability of such Purchaser to acquire the Securities.

 

Article
III.

transfer
restrictions

 

Section
3.01 Transfer Restrictions. The Purchasers covenant that the Securities will only be disposed of pursuant to an effective
registration statement under, and in compliance with the requirements of, the Securities Act or pursuant to an available exemption
from the registration requirements of the Securities Act, and in compliance with any applicable state securities laws. In connection
with any transfer of Securities other than pursuant to an effective registration statement, the Company may require the transferor
to provide the Company with an opinion of counsel selected by the transferor, the form and substance of which opinion shall be
reasonably satisfactory to the Company, to the effect that such transfer does not require registration under the Securities Act.

 

Section
3.02 Legend. The Purchasers agree to the imprinting of the following legend on any certificate evidencing any of the Securities
and to the notation of such legend in the stock books of the Company (in addition to any legend required by applicable state securities
or “blue sky” laws):

 

THESE
SECURITIES REPRESENTED BY THIS CERTIFICATE AND ANY OTHER SECURITIES FOR WHICH THIS SECURITY IS CONVERTIBLE INTO OR EXERCISABLE
FOR (COLLETCIVELY, THE “SECURITIES”) HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”) OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE
SECURITIES ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR THE COMPANY SHALL HAVE RECEIVED AN OPINION OF COUNSEL THAT REGISTRATION
OF SUCH SECURITIES UNDER THE SECURITIES ACT AND UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED.

 

    	 	-4 -	 

     

    

 

Article
IV.

Miscellaneous

 

Section
4.01 Stockholder Approval. The Company shall provide each stockholder entitled to vote at an annual or special meeting
of stockholders of the Company (the “Stockholder Meeting”), which shall be promptly called and held
not later than December 31, 2020 (the “Stockholder Meeting Deadline”), a proxy statement soliciting
each such stockholder’s affirmative vote at the Stockholder Meeting for approval of resolutions (“Stockholder
Resolutions”) providing for the issuance of the Conversion Shares and Warrant Shares in compliance with the rules
and regulations of the Nasdaq Capital Market (the “Stockholder Approval”, and the date the Stockholder
Approval is obtained, the “Stockholder Approval Date”), and the Company shall use its reasonable best
efforts to solicit its stockholders’ approval of such resolutions and to cause the Board of Directors of the Company to
recommend to the stockholders that they approve such resolutions. The Company shall be obligated to seek to obtain the Stockholder
Approval by the Stockholder Meeting Deadline. If, despite the Company’s reasonable best efforts the Stockholder Approval
is not obtained on or prior to the Stockholder Meeting Deadline, the Company shall cause an additional Stockholder Meeting to
be held on or prior to March 31, 2021. If, despite the Company’s reasonable best efforts the Stockholder Approval is not
obtained after such subsequent stockholder meetings, the Company shall cause an additional Stockholder Meeting to be held quarterly
thereafter until such Stockholder Approval is obtained.

 

Section
4.02 Fees and Expenses. Except as otherwise set forth in this Agreement, each party shall pay the fees and expenses of
its advisors, counsel, accountants and other experts, if any, and all other expenses, incurred by such party incident to the negotiation,
preparation, execution, delivery and performance of this Agreement. The Company shall pay all stamp or other similar taxes and
duties levied in connection with issuance of the Shares or Parent common stock pursuant hereto.

 

Section
4.03 Specific Enforcement, Consent to Jurisdiction.

 

(a)
The Parties acknowledge and agree that irreparable damage would occur in the event that any of the provisions of this Agreement
were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties
shall be entitled to seek an injunction or injunctions to prevent or cure breaches of the provisions of this Agreement and to
enforce specifically the terms and provisions hereof, this being in addition to any other remedy to which any of them may be entitled
by law or equity.

 

(b)
Each Party (i) hereby irrevocably submits to the jurisdiction of the state and federal courts located in Las Vegas, Nevada for
the purposes of any suit, action or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby
and (ii) hereby waives, and agrees not to assert in any such suit, action or proceeding, any claim that it is not personally subject
to the jurisdiction of such courts, that the suit, action or proceeding is brought in an inconvenient forum or that the venue
of the suit, action or proceeding is improper. Each Party consents to process being served in any such suit, action or proceeding
by mailing a copy thereof to such party at the address in effect for notices to it under this Agreement and agrees that such service
shall constitute good and sufficient service of process and notice thereof. Nothing in this Section 4.04 shall affect or limit
any right to serve process in any other manner permitted by law.

 

Section
4.04 Entire Agreement; Amendment. This Agreement (including all exhibits and schedules hereto) contains the entire understanding
and agreement of the parties with respect to the matters covered hereby and, except as specifically set forth herein, no Party
hereto makes any representations, warranty, covenant or undertaking with respect to such matters and they supersede all prior
understandings and agreements with respect to said subject matter, all of which are merged herein. No provision of this Agreement
may be waived or amended other than by a written instrument signed by the Company, the Parent and the Purchasers holding a majority
of the Shares then outstanding and held by Purchasers. No such amendment shall be effective to the extent that it applies to less
than all of the holders of the Shares then outstanding.

 

    	 	-5 -	 

     

    

 

Section
4.05 Notices. Any notice, demand, request, waiver or other communication required or permitted to be given hereunder shall
be in writing and shall be effective (a) upon hand delivery by telex (with correct answer back received), telecopy, e-mail or
facsimile at the address or number designated below (if delivered on a business day during normal business hours where such notice
is to be received), or the first business day following such delivery (if delivered other than on a business day during normal
business hours where such notice is to be received) or (b) on the second business day following the date of mailing by express
courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur.
The addresses for such communications shall be:

 

(a)
If to the Company:

 

	 	U.S
    Gold Corp.
	 	1910
    East Idaho Street
	 	Suite
    102-Box 604
	 	Elko,
    NV 89801
	 	Attention:
    Edward M. Karr
	 	E-mail:
    ek@usgoldcorp.gold
	 	 
	 	with
    copies to:
	 	 
	 	Haynes
    and Boone, LLP
	 	30
    Rockefeller Plaza, 26th Floor
	 	New
    York, New York 10112
	 	Attention:
    Rick A. Werner, Esq.
	 	Email:
    rick.werner@haynesboone.com

 

(b)
If to any Purchaser at the address of such Purchaser set forth on the signature pages hereto.

 

Any
party hereto may from time to time change its address for notices by giving at least ten (10) days written notice of such changed
address to the other party hereto.

 

Section
4.06 Waivers. No waiver by a party of any default with respect to any provision, condition or requirement of this Agreement
shall be deemed to be a continuing waiver in the future or a waiver of any other provisions, condition or requirement hereof,
nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right
accruing to it thereafter.

 

Section
4.07 Headings. The article, section and subsection headings in this Agreement are for convenience only and shall not constitute
a part of this Agreement for any other purpose and shall not be deemed to limit or affect any of the provisions hereof.

 

Section
4.08 Successors and Assigns; Restrictions on Transfer. This Agreement shall be binding upon and inure to the benefit of
the parties and their successors and assigns. Neither the Company nor Parent may not assign this Agreement or any rights or obligations
hereunder without the prior written consent of the Purchasers.

 

Section
4.09 No Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective
permitted successors and assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

Section
4.10 Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State
of Nevada, without giving effect to any of the conflicts of law principles which would result in the application of the substantive
law of another jurisdiction. This Agreement shall not be interpreted or construed with any presumption against the party causing
this Agreement to be drafted. Each party hereby irrevocably waives, to the fullest extent permitted by applicable law, any and
all rights to a trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated
hereby.

 

    	 	-6 -	 

     

    

 

Section
4.11 Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed shall be
deemed to be an original and, all of which taken together shall constitute one and the same Agreement and shall become effective
when counterparts have been signed by each party and delivered to the other parties hereto, it being understood that all parties
need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission, such signature shall
create a valid binding obligation of the party executing (or on whose behalf such signature is executed) the same with the same
force and effect as if such facsimile signature were the original thereof.

 

Section
4.12 Severability. The provisions of this Agreement are severable and, in the event that any court of competent jurisdiction
shall determine that any one or more of the provisions or part of the provisions contained in this Agreement shall, for any reason,
be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect
any other provision or part of a provision of this Agreement and such provision shall be reformed and construed as if such invalid
or illegal or unenforceable provision, or part of such provision, had never been contained herein, so that such provisions would
be valid, legal and enforceable to the maximum extent possible.

 

Section
4.13 Further Assurances. From and after the date of this Agreement, upon the request of any Purchaser or the Company, each
of the Company and the Purchasers shall execute and deliver such instrument, documents and other writings as may be reasonably
necessary or desirable to confirm and carry out and to effectuate fully the intent and purposes of this Agreement.

 

Section
4.14 Like Treatment of Purchasers. No consideration shall be offered or paid to any Purchaser to amend or consent to a
waiver or modification of any provision of this Agreement unless the same consideration is also offered to all of the Purchasers
then holding Shares. Further, the Company shall not make any payments or issue any securities to the Purchasers in amounts which
are disproportionate to the respective numbers of outstanding Shares held by any Purchasers at any applicable time. For clarification
purposes, this provision constitutes a separate right granted to each Purchaser by the Company and negotiated separately by each
Purchaser, and is intended for the Company to treat the Purchasers as a class and shall not in any way be construed as the Purchasers
acting in concert or as a group with respect to the purchase, disposition or voting of the Shares or otherwise.

 

[SIGNATURE
PAGES FOLLOWS]

 

    	 	-7 -	 

     

    

 

Company
Signature Page

 

IN
WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by an authorized signatory as of the date first above
written.

 

	 	U.S.
    GOLD CORP.
	 	 	 
	 	By:	
	 	Name:   
    	Edward
    M. Karr
	 	Title:
    	Chief
    Executive Officer

 

    	 	 	 

     

    

 

Purchaser
Signature Page

 

By
its execution and delivery of this signature page, the undersigned Purchaser hereby joins in and agrees to be bound by the terms
and conditions of the Securities Purchase Agreement dated as of August 10, 2020 (the “Purchase Agreement”)
by and among U.S. Gold Corp. and the Purchasers (as defined therein), as to the number of shares of Preferred Stock and Warrants
set forth below, and authorizes this signature page to be attached to the Purchase Agreement or counterparts thereof.

 

	 	Name
    of Purchaser: _______________________________________________________________________
	 	 
	 	Signature:
    ______________________________________________________________________________
	 	 
	 	If
    Entity: 	Name
    _________________________________________________________
	 	 
	 	 	Title
    __________________________________________________________
	 	 
	 	Address:	______________________________________________________________
	 	 	______________________________________________________________
	 	 	______________________________________________________________
	 	 
	 	Telephone
    No.:	________________________
	 	 
	 	Email
    Address:	 
	 	 
	 	 	                         Number
    of Shares: _______________________________________
	 	 
	 	 	                         Warrant
    Shares: _______________________________________
	 	 
	 	 	                         Aggregate
    Purchase Price: $_______________________________________
	 	 
	 	 	                         SSN/EIN: _______________________________________
	 	 
	 	Delivery
    Instructions (if different than above):
	 	 
	 	c/o:
    ____________________________________________________________
	 	 
	 	Address:
    ________________________________________________________
	 	 
	 	______________________________________________________________
	 	 
	 	Telephone
    No.: ___________________________________________________

 

AGREED
AND ACCEPTED BY U.S GOLD CORP.

 

	By:	 	 	Date:
    	 
	 	 	 	 	 
	Name:
    	 	 	Title:

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