Document:

Exhibit 10.3

 

12% CONVERTIBLE PROMISSORY NOTE 

DUE JANUARY 31, 2018

 

	CAN$960,300	 	February 10, 2016

 

Event Cardio Group, Inc., a Nevada
corporation (“ECG”) is indebted to 2399371 Ontario Inc., an Ontario corporation (the “Lender”),
in the aggregate amount of CAN$960,300 (the “Existing Indebtedness”), inclusive of interest on the Existing
Notes and the December 2015 Loan through February 29, 2016, which indebtedness is evidenced by ECG’s promissory notes dated
May 14, 2014 in the principal amount of CAN$583,000 (the “2014 Note”), July 27, 2015 in the principal amount of CAN$64,500
(the “July 2015 Note”), December 18, 2015 in the principal amount of CAN$75,000 and December 18, 2015 in the principal
amount of CAN$91,499 (together, the “December 2015 Notes,” and together with the 2014 Note and the July 2015 Note,
the “Existing Notes”).

 

This promissory note (this “Note”)
amends, restates, consolidates and evidences ECG’s obligation to pay the Existing Indebtedness and, except as specifically
provided herein, supersedes and replaces the Existing Notes.

 

FOR VALUE RECEIVED, ECG will pay to,
or to the order of, Lender at Lender’s offices at 7050 Weston Rd., Suite 400, Woodbridge, ON, L4L 8G7 (or such other address)
as the Lender may direct, the sum of NINE HUNDRED SIXTY THOUSAND THREE HUNDRED DOLLARS (CAN$960,300) (the “Principal
Amount”) of lawful money of Canada on January 31, 2018 (the “Maturity Date”), or earlier following
receipt of a Default Notice as provided herein, plus interest thereon at the rate of 12% per annum compounded monthly (“Interest”)
from March 1, 2016 until payment of such amount in full.

 

At any time prior to the Maturity Date,
ECG may, at its option, prepay in whole or in part, amounts owing under this Note.

 

If the ECG shall make any payment to
Lender in respect of this Note, such payment will be applied first to the costs and fees owing to the Lender under this Note,
second, to the payment of Interest accrued under this Note through the date of payment and third, to the payment of the Principal
Amount of this Note. If the date for any payment or prepayment hereunder falls on a day which is not a Business Day, then for
all purposes of this Note, the same shall be deemed to have fallen on the next following Business Day, and such extension of time
shall in such case be included in the computation of payments of interest.

 

If an event of default shall occur, Lender may, at its
option, by notice (a “Default Notice”) to the Parent declare the Principal Amount, together with all
accrued and unpaid Interest thereon to be due and payable, without presentment, demand, protest or further notice of any kind
(all of which are hereby expressly waived). Upon giving such a Default Notice, the Lender shall be entitled to be paid in
full the outstanding Principal Amount unpaid hereunder, together with all accrued and unpaid Interest thereon, and any costs
it may have incurred, including reasonable legal fees, and Lender shall be entitled to exercise any and all remedies which
may be available to it under applicable law or otherwise to enforce payment of all such amounts.

 

All accrued and unpaid Interest on
any amount outstanding hereunder which has not become due and payable hereunder and which was not previously paid, shall be paid
in full by ECG to the Lender on the date which the Principal Amount outstanding hereunder is due and payable, pursuant to the
terms of this Note.

 

The principal amount of this Note,
together with any accrued interest thereon, is convertible into shares of the common stock, $0.001 par value, of ECG, at any time
after ECG increases the number of shares of its authorized Common Stock so that there are a sufficient number of authorized but
unissued shares available for issuance upon conversion and prior to the Maturity Date, at an initial conversion price of CAN$0.0873
in accordance with the terms and subject to the conditions set forth in Appendix I annexed hereto. ECG agrees to propose an amendment
to its Articles of Incorporation increasing the number of shares of Common Stock it is authorized to issue (the “Amendment”),
and submit that amendment to shareholders for approval at a meeting of shareholders to be held not later than January 31, 2018,
unless prior to such date such amendment has been adopted by written consent of holders of a majority of the shares entitled to
vote thereon. ECG also agrees that it will not make any prepayments of the principal amount of this Note or consummate a merger
of similar business combination transaction as a result of which ECG would not be the surviving entity until the Amendment has
been approved by shareholders.

     

     

    

Anything to the contrary herein notwithstanding, (i) payment of
that portion of the indebtedness evidenced hereby corresponding to the indebtedness formerly evidenced by the May 2014 Note and
the July 2015 Note secured by the collateral described in a Security Agreement dated May 14, 2014, between the Lender and ECG
(the “First Security Agreement”) shall continue to be secured by that collateral pursuant to the First Security
Agreement; (ii) payment of that portion of the indebtedness evidenced hereby corresponding to the indebtedness formerly evidenced
by the December 2015 Notes secured by the collateral described in a Security Agreement dated December 18, 2015 between the Lender
and ECG (the “Second Security Agreement, and together with the First Security Agreement, the “Security Agreements”)
shall continue to be secured by that collateral pursuant to the Second Security Agreement; (iii) payment of that portion of
the indebtedness formerly evidenced by the 2014 Note and the May 2015 Note guaranteed by the parties named therein shall continue
to be guaranteed by those parties to the extent provided therein; and (iv) payment of that portion of the indebtedness formerly
evidenced by the 2014 Note and the May 2015 Note secured by a pledge of the common shares of 2340960 Ontario Inc. shall continue
to be secured by those shares.

 

No failure or delay by the Lender in
exercising any right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right exclude
other further exercises thereof or the exercise of any other right.

 

ECG hereby waives presentment for payment,
demand, notice of non-payment, notice of protest of this Note, and all other notices in connection with the delivery, acceptance,
performance or enforcement of or default under this Note, and waives diligence in collection or bringing suit with respect to
this Note.

 

This Note is assignable by the Lender.

 

Should this Note become mutilated,
lost, stolen or destroyed, ECG shall, upon being furnished with evidence satisfactory to it of such mutilation, loss, theft or
destruction, issue and deliver a new promissory note of like date and tenor as the one mutilated, lost, stolen or destroyed in
exchange for, in place of and upon cancellation of the mutilated Note or in lieu of or substitution for the mutilated, lost, stolen
or destroyed Note.

 

This Note and all its provisions shall
enure to the benefit of the Lender, its successors and assigns, and shall be binding on ECG, its successors and assigns.

 

THIS NOTE SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE AND PERFORMED WITHIN THE STATE OF
NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS. ECG IRREVOCABLY CONSENTS TO THE NON-EXCLUSIVE JURISDICTION OF THE
COURTS OF THE STATE OF NEW YORK AND THE FEDERAL COURTS LOCATED WITHIN NEW YORK CITY IN ANY ACTION OR PROCEEDING WITH RESPECT TO
THIS NOTE. SERVICE OF ANY SUMMONS OR COMPLAINT HEREUNDER AND ANY OTHER PROCESS WHICH MAY BE SERVED ON THE PARENT IN ANY ACTION
IN RESPECT HERETO, MAY BE MADE BY CERTIFIED OR REGISTERED MAIL OR BY RECOGNIZED OVERNIGHT COURIER INCLUDING FEDERAL EXPRESS AND
UPS.

 

ECG HEREBY IRREVOCABLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING ARISING OUT OF OR IN CONNECTION WITH THIS
NOTE.

 

THIS NOTE AND THE SECURITIES WHICH
MAY BE ISSUED UPON CONVERSION OF THIS NOTE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OF THE UNITED
STATES OR ANY APPLICABLE STATE SECURITIES LAWS. THIS NOTE AND THE SECURITIES WHICH MAY BE ISSUED UPON CONVERSION OF THIS NOTE
MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THIS NOTE
UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO ECG THAT SUCH REGISTRATION
IS NOT REQUIRED.

     

     

    

ECG shall pay all reasonable expenses of any nature, whether incurred
in or out of court, and whether incurred before or after this Note shall become due at the Maturity Date or otherwise (including,
but not limited to, reasonable legal fees and costs), which Lender may deem necessary or proper in connection with the satisfaction
of the payment of the amounts owing hereunder or the administration, supervision, preservation, protection of (including, but
not limited to, the maintenance of adequate insurance) or the realization upon any Collateral as defined in the Security Agreements.
Lender is authorized to pay at any time and from time to time any or all of such expenses, add the amount of such payment to the
Principal Amount and charge interest thereon at the rates specified herein.

 

Upon payment by ECG, or its respective
successors or permitted assigns, of the Principal Amount, and all accrued and unpaid Interest outstanding, and payment of all
other Obligations (as defined in the Security Agreements) hereunder, the Lender shall upon request in writing by ECG its successors
or permitted assigns, delivered to the Lender, deliver up this Note to ECG, its successors or assigns.

 

In the event that any of the provisions
contained hereby shall be invalid, illegal or unenforceable in any respect, the validity, legality or enforceability of the remaining
provisions contained herein shall not in any way be affected or impaired thereby.

 

IN WITNESS WHEREOF the ECG has
caused this Note to be signed as of the date first written above.

 

EVENT CARDIO GROUP, INC.

 

 

By: /s/ John Bentivoglio__

Name: John Bentivoglio

Title: President and CEO

     

     

    

Appendix I

 

Term of Conversion

 

The following terms used in this Appendix I shall have
the definitions set forth below:

 

“Business
Day” means any day except Saturday, Sunday, any day which shall be a federal legal holiday in the United States or any
day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

 

“Common
Stock” means the common stock, par value $.001 per share, of ECG and stock of any other class of securities into which
such securities may hereafter be reclassified or changed into.

 

“Conversion
Shares” means, collectively, the shares of Common Stock issuable upon conversion of this Note in accordance with the
terms hereof.

  

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Trading
Day” means a day on which the principal Trading Market is open for business.

 

 

Conversion at the Option of Lender
or Other Holder:

 

At any time prior to the Maturity Date or so long as this
Note is outstanding, this Note shall be convertible, in whole or in part, into shares of the common stock, $0.001, par value
(“Common Stock”) of ECG at the option of the Lender or any other holder of this Note (together with the Lender, a
“Holder”), at any time and from time to time. The Holder shall effect conversions by delivering to ECG a Notice
of Conversion, the form of which is attached hereto as Annex A (a “Notice of Conversion”),
specifying therein the principal amount of this Note, and accrued interest thereon, to be converted and the date on which
such conversion shall be effected (such date, the “Conversion Date”). If no Conversion Date is specified
in a Notice of Conversion, the Conversion Date shall be the date that such Notice of Conversion is deemed delivered
hereunder. To effect conversions hereunder, the Holder shall not be required to physically surrender this Note to ECG unless
the entire principal amount of this Note, plus all accrued and unpaid interest thereon, has been so converted. Conversions
hereunder shall have the effect of lowering the outstanding principal amount of this Note in an amount equal to the
applicable conversion price. The Holder and ECG shall maintain records showing the principal amount(s) converted and the date
of such conversion(s). ECG may deliver an objection to any Notice of Conversion within one business day of delivery of such
Notice of Conversion. In the event of any dispute or discrepancy, the records of ECG shall be controlling and determinative
in the absence of manifest error. The Lender, and any assignee by acceptance of this Note, acknowledge and agree that, by
reason of the provisions of this paragraph, following conversion of a portion of this Note, the unpaid and
unconverted principal amount of this Note may be less than the amount stated on the face hereof.

 

The conversion price in effect on any
Conversion Date shall be equal to CAN$0.0873, subject to adjustment herein (the “Conversion Price”).

 

The number of shares of Common Stock
issuable upon a conversion hereunder shall be determined by the quotient obtained by dividing (x) the outstanding principal amount
of, and accrued interest on, this Note to be converted by (y) the Conversion Price.

 

     

     

    

Delivery of Shares Upon Conversion:

 

Not later than three trading days after
each Conversion Date (the “Share Delivery Date”), ECG shall deliver, or cause to be delivered, to the Holder
(A) a certificate or certificates representing the Conversion Shares which, on or after the date of conversion, shall be free
of restrictive legends and trading restrictions representing the number of shares of Common Stock being acquired upon the conversion
of this Note and (B) a check in the amount of accrued and unpaid interest (unless the Holder by written notice to ECG has elected
to add the amount of accrued interest otherwise payable to the principal amount of this Note to be converted).

 

ECG’s obligations to issue and deliver the Conversion Shares
upon conversion of this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or
inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment
against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any
breach or alleged breach by the Holder or any other Person of any obligation to ECG or any violation or alleged violation of law
by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of ECG
to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall
not operate as a waiver by ECG of any such action ECG may have against the Holder. In the event the Holder of this Note shall
elect to convert any or all of the outstanding principal amount hereof, ECG may not refuse conversion based on any claim that
the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other
reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this
Note shall have been sought and obtained, and ECG posts a surety bond for the benefit of the Holder in the amount of 125% of the
outstanding principal amount of this Note, which is subject to the injunction, which bond shall remain in effect until the completion
of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to such Holder to the extent it
obtains judgment. In the absence of such injunction, ECG shall issue Conversion Shares and, if applicable, cash in payment of
accrued interest, upon a properly noticed conversion.

 

ECG covenants that subsequent to such
time as it increases the number of its authorized shares of Common Stock as provided in the Note, it will at all times reserve
and keep available out of its authorized and unissued shares of Common Stock for the sole purpose of issuance upon conversion
of this Note, free from preemptive rights or any other actual contingent purchase rights of Persons other than the Holder (and
the other holders of the Notes), not less than such aggregate number of shares of the Common Stock as shall (subject to the terms
and conditions set forth in the Purchase Agreement) be issuable (taking into account the adjustments and restrictions set forth
herein) upon the conversion of the outstanding principal amount of this Note and payment of interest hereunder. ECG covenants
that all shares of Common Stock that shall be so issuable shall, upon issue, be duly authorized, validly issued, fully paid and
non-assessable.

 

Upon a conversion hereunder ECG shall
not be required to issue stock certificates representing fractions of shares of Common Stock, but may if otherwise permitted,
make a cash payment in respect of any final fraction of a share based on the VWAP at such time. If ECG elects not, or is unable,
to make such a cash payment, the Holder shall be entitled to receive, in lieu of the final fraction of a share, one whole share
of Common Stock.

 

The issuance of certificates for shares
of the Common Stock on conversion of this Note shall be made without charge to the Holder hereof for any documentary stamp or
similar taxes that may be payable in respect of the issue or delivery of such certificates, provided that ECG shall not be required
to pay any tax that may be payable in respect of any transfer involved in the issuance and delivery of any such certificate upon
conversion in a name other than that of the Holder of this Note so converted and ECG shall not be required to issue or deliver
such certificates unless or until the person or persons requesting the issuance thereof shall have paid to ECG the amount of such
tax or shall have established to the satisfaction of ECG that such tax has been paid.

     

     

    

Adjustments to Conversion Price:

 

If ECG, at any time while this Note
is outstanding: (A) pays a stock dividend or otherwise makes a distribution or distributions payable in shares of Common Stock
on shares of Common Stock; (B) subdivides outstanding shares of Common Stock into a larger number of shares; or (C) combines (including
by way of a reverse stock split) outstanding shares of Common Stock into a smaller number of shares, then the Conversion Price
shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding any treasury
shares of ECG) outstanding immediately before such event and of which the denominator shall be the number of shares of Common
Stock outstanding immediately after such event. Any adjustment made pursuant to this Section shall become effective immediately
after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become
effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

If, at any time while this Note is outstanding, (A) ECG
effects any merger or consolidation of ECG with or into another Person, (B) ECG effects any sale of all or substantially all
of its assets in one transaction or a series of related transactions, (C) any tender offer or exchange offer (whether by ECG
or another Person) is completed pursuant to which holders of Common Stock are permitted to tender or exchange their shares
for other securities, cash or property, or (D) ECG effects any reclassification of the Common Stock or any compulsory share
exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property
(in any such case, a “Fundamental Transaction”), then, upon any subsequent conversion of this Note, the
Holder shall have the right to receive, for each Conversion Share that would have been issuable upon such conversion
immediately prior to the occurrence of such Fundamental Transaction, the same kind and amount of securities, cash or property
as it would have been entitled to receive upon the occurrence of such Fundamental Transaction if it had been, immediately
prior to such Fundamental Transaction, the holder of one share of Common Stock (the “Alternate
Consideration”). For purposes of any such conversion, the determination of the Conversion Price shall be
appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in
respect of one share of Common Stock in such Fundamental Transaction, and ECG shall apportion the Conversion Price among
the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate
Consideration. If holders of Common Stock are given any choice as to the securities, cash or property to be received in a
Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon
any conversion of this Note following such Fundamental Transaction. To the extent necessary to effectuate the foregoing
provisions, any successor to ECG or surviving entity in such Fundamental Transaction shall issue to the Holder a new
promissory note consistent with the foregoing provisions and evidencing the Holder’s right to convert such debenture
into Alternate Consideration. The terms of any agreement pursuant to which a Fundamental Transaction is effected shall
include terms requiring any such successor or surviving entity to comply with the provisions of this paragraph and insuring
that this Note (or any such replacement security) will be similarly adjusted upon any subsequent transaction analogous to a
Fundamental Transaction.

 

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

  

Whenever the Conversion Price is adjusted
pursuant to any provision hereof, ECG shall promptly mail to each Holder a notice setting forth the Conversion Price after such
adjustment and setting forth a brief statement of the facts requiring such adjustment.

     

     

    

 

If (A) ECG shall declare a dividend (or any other distribution
in whatever form) on the Common Stock, (B) ECG shall declare a special nonrecurring cash dividend on or a redemption of the Common
Stock, (C) ECG shall authorize the granting to all holders of the Common Stock of rights or warrants to subscribe for or purchase
any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of ECG shall be required in connection
with any reclassification of the Common Stock, any consolidation or merger to which ECG is a party, any sale or transfer of all
or substantially all of the assets of ECG, of any compulsory share exchange whereby the Common Stock is converted into other securities,
cash or property or (E) ECG shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs
of ECG, then, in each case, ECG shall cause to be filed at each office or agency maintained for the purpose of conversion of this
Note, and shall cause to be delivered to the Holder at its last address as it shall appear upon ECG’s records, at least
20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which
a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not
to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption,
rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer
or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common
Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable
upon such reclassification, consolidation, merger, sale, transfer or share exchange, provided that the failure to deliver such
notice or any defect therein or in the delivery thereof shall not affect the validity of the corporate action required to be specified
in such notice. The Holder is entitled to convert this Note during the 20-day period commencing on the date of such notice through
the effective date of the event triggering such notice.

    	 

    	 

    

ANNEX A

 

NOTICE OF CONVERSION

 

The undersigned hereby elects to convert
principal under the 12% Convertible Note due January 31, 2018 of Event Cardio Group, Inc., a Nevada corporation (the “Company”),
into shares of common stock, par value $.001 per share (the “Common Stock”), of the Company according to the
conditions hereof, as of the date written below. If shares of Common Stock are to be issued in the name of a person other than
the undersigned, the undersigned will pay all transfer taxes payable with respect thereto and is delivering herewith such certificates
and opinions as reasonably requested by the Company in accordance therewith. No fee will be charged to the holder for any conversion,
except for such transfer taxes, if any.

  

Conversion calculations:

 

Date
to Effect Conversion:

 

Principal
Amount of Note to be Converted:

 

Payment
of Interest in Common Stock __ yes __ no

If yes, $_____ of Interest
Accrued on Account of Conversion at Issue.

 

Number of shares
of Common Stock to be issued:

 

Signature:

 

Name:

 

Address:

     

     

    

Schedule 1

 

CONVERSION SCHEDULE

 

The 12% Convertible Note due on January
31, 2018 in the aggregate principal amount of CAN$____ is issued by Event Cardio Group, Inc. This Conversion Schedule reflects
conversions made under the above referenced Note.

 

Dated:

 

 

	Date of Conversion 

    (or for first entry Original Issue Date)	Amount of Conversion 	Aggregate Principal Amount Remaining Subsequent to Conversion
    (or original Principal Amount) 	Company AttestExhibit 10.4

 

NEITHER THE ISSUANCE AND SALE OF THE
SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE,
SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE REASONABLY ACCEPTABLE TO THE ISSUER), IN A GENERALLY
ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 UNDER SAID ACT. NOTWITHSTANDING
THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT
SECURED BY THE SECURITIES.

 

COMMON STOCK PURCHASE WARRANT

 

EVENT
CARDIO GROUP INC.

 

	Warrant Shares: 3,000,000	 	Initial Exercise Date: February 12, 2016

  

THIS COMMON STOCK
PURCHASE WARRANT (the “Warrant”) certifies that, for value received, 2399371 Ontario Inc. (the “Holder”)
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on
or after the date hereof (the “Initial Exercise Date”) and on or prior to the close of business on February
28, 2019 (the “Termination Date”) but not thereafter, to subscribe for and purchase from Event Cardio Group,
Inc., a Nevada corporation (the “Company”), up to three million (3,000,000) shares (the “Warrant Shares”)
of common stock, par value $.001 per share, of the Company (the “Common Stock”). The purchase price of one
share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).

 

Section 1. Definitions.
Capitalized terms used herein without definition shall have the following meaning:

 

“Business
Day” means any day except Saturday, Sunday, any day which shall be a federal legal holiday in the United States or any
day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

 

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

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

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

     

     

    

Section 2.Exercise

 

a) Exercise.
Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after
the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed facsimile copy of
the Notice of Exercise Form annexed hereto (or such other office or agency of the Company as it may designate by notice in writing
to the registered Holder at the address of such Holder appearing on the books of the Company); and, if the Exercise Price is to
be paid in cash, within three Trading Days of the date said Notice of Exercise is delivered to the Company, the Company shall
have received payment of the aggregate Exercise Price of the shares thereby purchased by wire transfer or cashier’s check
drawn on a United States bank. Alternatively, the Holder may pay the Exercise Price, in whole or in part, by surrender or delivery
to the Company of securities of the Company, including all or a portion of this Warrant in a “cashless exercise,”
having a fair market value, as determined below, on the date of the exercise equal to the portion of the purchase price being
so paid. If the Holder elects to exercise this Option, or a portion hereof, and to pay for the Common Stock by way of cashless
exercise (a “Cashless Exercise”), the Holder shall deliver the Exercise Notice duly executed by such
Holder or by such Holder’s duly authorized attorney, at the principal office of the Company, or at such other office or
agency as the Company may designate in writing prior to the date of such exercise, in which event the Company shall issue to the
Holder the number of shares computed according to the following equation:

 

where

 

X = the number of
shares of Common Stock to be issued to the Holder.

 

Y = the number of
shares of Common Stock then purchasable under this Warrant or, if only a portion of the Warrant is being exercised, the number
of shares of Common Stock as to which the Warrant is being exercised.

 

A = the Fair Market
Value (defined below) of one share of Common Stock on the Exercise Date.

 

B = the Exercise
Price (as adjusted pursuant to the provisions of this Warrant).

 

For purposes of this Section 2, in the case of a
Cashless Exercise, the “Exercise Date” shall mean the day on which the Holder delivers the Exercise Notice to the
Company by hand or e-mail, or the day the Holder deposits the Exercise Notice in a facility of the US mails or with a
recognized overnight courier, and “Fair Market Value” of one share of Common Stock on the Exercise Date shall
have one of the following meanings:

 

(1)if the Common
Stock is traded on the NYSE MKT or other national securities exchange registered with the Securities and Exchange Commission pursuant
to the Securities Exchange Act of 1934, as amended, the Fair Market Value shall be deemed to be the average of the Closing Prices
over a five trading day period ending on the Exercise Date. For the purposes of this Agreement, “Closing Price” means
the closing sale price of one share of Common Stock, as reported by NYSE MKT or such other such national securities exchange,
or if NYSE MKT or such other national securities exchange does not publish such information, Bloomberg L.P; or

 

(2)if the Common
Stock is not traded on a national securities exchange, the Fair Market Value shall be deemed to be the average of the closing
bid and asked prices over the ten (10) Trading Day period ending on the Exercise Date; or

 

(3)if neither
(1) nor (2) is applicable, the Fair Market Value shall be at the commercially reasonable price per share which the Company could
obtain on the Exercise Date from a willing buyer (not a current employee or director) for shares of Common Stock sold by the Company,
from authorized but unissued shares, as determined in good faith by the Company’s Board of Directors.

     

     

    

b) Surrender.
Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the
Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full,
in which case, the Holder shall surrender this Warrant to the Company for cancellation within three Trading Days of the date the
final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of
the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares
purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall
maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any
objection to any Notice of Exercise Form within three Business Days of receipt of such notice. In the event of any dispute or
discrepancy, the records of the Company shall be controlling and determinative in the absence of manifest error. The Holder and
any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following
the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any
given time may be less than the amount stated on the face hereof.

 

c)Exercise
Price. The exercise price per share of the Common Stock under this Warrant shall be $US0.01, subject to adjustment hereunder
(the “Exercise Price”).

 

d)Mechanics
of Exercise.

 

i.         Authorization
of Warrant Shares. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase
rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant, be duly
authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by the Company in
respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue).

 

ii.         Delivery of Certificates Upon Exercise. Certificates for shares purchased
hereunder shall be transmitted by the transfer agent of the Company to the Holder by crediting the account of the Holder’s
prime broker with the Depository Trust Company through its Deposit Withdrawal Agent Commission (“DWAC”) system
if the Company is a participant in such system, and otherwise by physical delivery to the address specified by the Holder in the
Notice of Exercise within 3 Trading Days from the delivery to the Company of the Notice of Exercise Form, surrender of this Warrant
(if required) and payment of the aggregate Exercise Price as set forth above (“Warrant Share Delivery Date”).
This Warrant shall be deemed to have been exercised on the date the Exercise Price is received by the Company. The Warrant Shares
shall be deemed to have been issued, and Holder or any other person so designated to be named therein shall be deemed to have
become a holder of record of such shares for all purposes, as of the date the Warrant has been exercised by payment to the Company
of the Exercise Price and all taxes required to be paid by the Holder, if any, pursuant to Section 2(c)(v) prior to the issuance
of such shares, have been paid.

 

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

 

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

     

     

    

v.         Charges,
Taxes and Expenses. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue
or transfer tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses
shall be paid by the Company, and such certificates shall be issued in the name of the Holder or in such name or names as may
be directed by the Holder; provided, however, that in the event certificates for Warrant Shares are to be
issued in a name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the
Assignment Form attached hereto duly executed by the Holder; and the Company may require, as a condition thereto, the payment
of a sum sufficient to reimburse it for any transfer tax incidental thereto.

 

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

 

Section 3.Certain Adjustments.

 

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

 

b)             Fundamental
Transaction. If, at any time while this Warrant is outstanding, (A) the Company effects any merger or consolidation of
the Company with or into another Person, (B) the Company effects any sale of all or substantially all of its assets in one or
a series of related transactions, (C) any tender offer or exchange offer (whether by the Company or another Person) is
completed pursuant to which holders of Common Stock are permitted to tender or exchange their shares for other securities,
cash or property, or (D) the Company effects any reclassification of the Common Stock or any compulsory share exchange
pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property (each
“Fundamental Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the
right to receive, for each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence
of such Fundamental Transaction, the number of shares of Common Stock of the successor or acquiring corporation or of the
Company, if it is the surviving corporation, and any additional consideration (the “Alternate
Consideration”) receivable as a result of such merger, consolidation or disposition of assets by a Holder of the
number of shares of Common Stock for which this Warrant is exercisable immediately prior to such event. For purposes of any
such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate
Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in such
Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a
reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of
Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then
the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant
following such Fundamental Transaction. To the extent necessary to effectuate the foregoing provisions, any successor to the
Company or surviving entity in such Fundamental Transaction shall issue to the Holder a new warrant consistent with the
foregoing provisions and evidencing the Holder’s right to exercise such warrant into Alternate Consideration. The terms
of any agreement pursuant to which a Fundamental Transaction is effected shall include terms requiring any such successor or
surviving entity to comply with the provisions of this Section 3(b) and insuring that this Warrant (or any such replacement
security) will be similarly adjusted upon any subsequent transaction analogous to a Fundamental Transaction.

     

     

    

 Notwithstanding
anything to the contrary, in the event of a Fundamental Transaction that is an all cash transaction, whereby the holders of
Common Stock immediately prior to such event are to receive cash in substitution for their shares, and, upon the exercise of
this Option the Holder is entitled to receive an amount in cash which, on a per share basis is less than the Exercise Price
then in effect, this Agreement shall be deemed to have terminated as of the date of such change.

 

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

 

d)            
Voluntary Adjustment By Company. The Company may at any time during the term of this Warrant reduce the then current Exercise
Price to any amount and for any period of time deemed appropriate by the Board of Directors of the Company.

 

e)             
Notice to Holder.

 

i.         Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company
shall promptly mail to the Holder a notice setting forth the Exercise Price after such adjustment and setting forth a brief
statement of the facts requiring such adjustment. If the Company enters into a Variable Rate Transaction (as defined in the
Purchase Agreement) despite the prohibition thereon in the Purchase Agreement, the Company shall be deemed to have issued
Common Stock or Common Stock Equivalents at the lowest possible conversion or exercise price at which such securities may be
converted or exercised.

 

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

     

     

    

Section 4.Transfer of Warrant.

 

a)              Transferability.
Subject to compliance with any applicable securities laws and the conditions set forth in Section 4(d) hereof and to the
provisions of Section 4.1 of the Purchase Agreement, this Warrant and all rights hereunder (including, without limitation,
any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the
Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached hereto
duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the
making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new
Warrant or Warrants in the name of the assignee or assignees and in the denomination or denominations specified in such
instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so
assigned, and this Warrant shall promptly be cancelled. A Warrant, if properly assigned, may be exercised by a new holder for
the purchase of Warrant Shares without having a new Warrant issued.

 

b)            
New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office
of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued,
signed by the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved
in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or
Warrants to be divided or combined in accordance with such notice.

 

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

 

d)            
Transfer Restrictions. If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant,
the transfer of this Warrant shall not be registered pursuant to an effective registration statement under the Securities Act
and under applicable state securities or blue sky laws, the Company may require, as a condition of allowing such transfer, that
(i) the Holder or transferee of this Warrant, as the case may be, furnish to the Company a written opinion of counsel acceptable
to the Company (which opinion shall be in form, substance and scope customary for opinions of counsel in comparable transactions)
to the effect that such transfer may be made without registration under the Securities Act and under applicable state securities
or blue sky laws, and (ii) the Holder or transferee execute and deliver to the Company an investment letter in form and substance
acceptable to the Company, and (iii) the transferee is not a U.S. Person (as defined in Rule 902(k) of Regulation S under the
Securities Act or is an “accredited investor” as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7), or (a)(8) promulgated
under the Securities Act..

 

Section 5.Miscellaneous.

 

a)             
No Rights as Shareholder Until Exercise. This Warrant does not entitle the Holder to any voting rights or other rights
as a shareholder of the Company prior to the exercise hereof as set forth in Section 2(c)(ii).

 

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

 

c)             
Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right
required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next
succeeding Business Day.

     

     

    

d)            
Authorized Shares.

 

The Company
covenants that during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient
number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant.
The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged
with the duty of executing stock certificates to execute and issue the necessary certificates for the Warrant Shares upon the
exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure
that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements
of the Trading Market upon which the Common Stock may be listed.

 

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

 

Before taking any action which would result in an
adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price, the Company shall
obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory
body or bodies having jurisdiction thereof.

 

e)             
Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall
be determined in accordance with the provisions of the Purchase Agreement.

 

f)             
Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered,
will have restrictions upon resale imposed by state and federal securities laws.

 

g)            
Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder
shall operate as a waiver of such right or otherwise prejudice Holder’s rights, powers or remedies, notwithstanding the
fact that all rights hereunder terminate on the Termination Date. If the Company willfully and knowingly fails to comply with
any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to Holder such amounts
as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including
those of appellate proceedings, incurred by Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any
of its rights, powers or remedies hereunder.

 

h)            
Notices. Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company
shall be delivered in accordance with the notice provisions of the Purchase Agreement.

 

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

     

     

    

j)              
Remedies. Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will
be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate
compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and
not to assert the defense in any action for specific performance that a remedy at law would be adequate.

 

k)            
Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby
shall inure to the benefit of and be binding upon the successors of the Company and the successors and permitted assigns of Holder.
The provisions of this Warrant are intended to be for the benefit of all Holders from time to time of this Warrant and shall be
enforceable by any such Holder or holder of Warrant Shares.

 

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

 

m)           
Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such
provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions
or the remaining provisions of this Warrant.

 

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

 

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

 

IN WITNESS WHEREOF,
the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

 

 

	 	EVENT CARDIO
        GROUP, INC.

         

         

	 	By: /s/ John Bentivoglio___

        John Bentivoglio

        President and CEO

    	 

    	 

    

NOTICE OF EXERCISE

(paid in cash)

 

To:
EVENT CARDIO GROUP, INC.

 

 

(1)  The undersigned
hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only if exercised
in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

(2)  Payment
shall take the form of in lawful money of the United States.

 

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

_______________________________

 

 

The Warrant Shares shall be delivered to the
following DWAC Account Number or by physical delivery of a certificate to:

 

_______________________________

 

_______________________________

 

_______________________________

 

(4)  Status of Holder
Exercising Warrant: The undersigned is (check the applicable boxe(s) below):

 

[ ] an “accredited investor” as
defined in Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended; or

 

[ ] not a “U.S. Person” as defined
in of Rule 902(k) of Regulation S under the Securities Act.

 

 

Name: ____________________________________________________

 

Signature: _________________________________________________

 

Date: ______________________________________________________

    	 

    	 

    

NOTICE OF EXERCISE

(cashless exercise)

 

To:
EVENT CARDIO GROUP, INC.

 

 

(1)   The undersigned
hereby elects to convert his right to purchase _______ Warrant Shares of Common Stock of Event Cardio Group, Inc. (the “Company”),
as provided in the Warrant Agreement dated February , 2016 (the “Stock Option Agreement”), into ____ shares of the
Common Stock of the Company (based on a fair market value per share of $_______ ). Please issue the shares in accordance with
the instructions given below.

 

(2)  Please
issue a certificate or certificates representing said Warrant Shares in the name of the undersigned or in such other name as is
specified below:

_______________________________

 

 

The Warrant Shares shall be delivered to the
following DWAC Account Number or by physical delivery of a certificate to:

 

_______________________________

 

_______________________________

 

_______________________________

 

(3)  Status of Holder
Exercising Warrant: The undersigned is (check the applicable boxe(s) below):

 

[ ] an “accredited investor” as
defined in Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended; or

 

[ ] not a “U.S. Person” as defined
in of Rule 902(k) of Regulation S under the Securities Act.

 

 

Name: ____________________________________________________

 

Signature: _________________________________________________

 

Date: ______________________________________________________

    	 

    	 

    

 ASSIGNMENT FORM

 

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

Do not use this form to exercise the warrant.)

 

 

 

FOR VALUE RECEIVED, [____] all of or [_______]
shares of the foregoing Warrant and all rights evidenced thereby are hereby assigned to _______________________________________________
whose address is _______________________________________________________________.

 

_______________________________________________________________

 

Dated: ______________,
_______

 

 

 

 

Holder’s Signature:_____________________________

 

Holder’s Address:_____________________________

 

_____________________________

 

 

 

Signature Guaranteed: ___________________________________________

 

 

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

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