Document:

Exhibit 10.6

 

REBEL GROUP, INC.

SUBSCRIPTION AGREEMENT

 

Mr. Justin Aan Yee Leong, CEO

Rebel Group, Inc.

7500A Beach Road, #12-313

The Plaza, Singapore 199591

 

This Subscription Agreement (this “Agreement”)
is by and between Rebel Group, Inc., a Florida corporation (the “Company”), and the investor identified on the
signature page hereto as of the date indicated thereon (“Investor”).

 

RECITALS:

 

WHEREAS, the
Company desires to issue and sell to the Investor, and Investor desires to purchase from the Company, the number of shares of the
Company’s common stock, par value $0.0001 per share (the “Common Stock”) as set forth in Article 1
hereinafter, at the price per share as set forth in Article 1 hereinafter (the “Offering”).

 

NOW THEREFORE,
in consideration of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt
and adequacy of which are hereby acknowledged, the Company and Investor agree as follows:

 

Article I. PURCHASE
AND SALE

 

1.1. Closing.
The closings (each, a “Closing”) of the purchase and sale of the shares of Common Stock being offered and sold
to the Investor by the Company pursuant to this Agreement (the “Securities”) in exchange for the applicable
purchase prices, shall take place upon acceptance of Investor’s funds and countersignature by the Company of this Agreement.
There will be up to three separate Closings (the date of each such Closing is hereinafter referred to as a “Closing Date”).

 

(a)
First Closing. The first Closing will take place upon receipt by the Company’s escrow agent, Pure Heart Entertainment
Pte Ltd (the “Escrow Agent”) of the First Closing Investment Amount (defined below) (the “First Closing”),
on the earlier of (i) the time the [Singapore High Court] approves a Grant of Probate to the Investor with respect to, or otherwise
reaches a judgement regarding the Investor’s inheritance, or (ii) April 8, 2018.

 

(b)
Second Closing. The second Closing will take place upon receipt by the Company’s Escrow Agent of the Second
Closing Investment Amount (defined below) (the “Second Closing”) on the earlier of (i) the effective date of
the Company’s IPO (defined below), (ii) the occurrence of the Triggering Event (defined below), or (iii) December 31, 2018.
For purposes of this Agreement: (i) “IPO” means the Company’s first underwritten public offering of the
Company’s Common Stock registered under the Securities Act of 1933, as amended from time to time (the “Securities
Act”); and (ii) “Triggering Event” means the Company having an aggregate TV viewership of at least
12 million and online viewership of at least 21 million viewers for three separate MMA events in 2018.

 

(c)
Third Closing. The Third Closing will take place upon receipt by the Company’s Escrow Agent of the Third
Closing Investment Amount (defined below) (the “Third Closing”), on the earlier of (i) the effective date
of the Company’s IPO as declared by the SEC, or (ii) December 31, 2018.

 

     

     

    

 

1.2. Company
Closing Deliverables. The Company shall deliver or cause to be delivered to the Investor the following (“Company Deliverables”):

 

(a)
For the First Closing, this Agreement duly executed by the Company; and

 

(b)
Within 14 days following each Closing, an original certificate representing the number of aggregate shares to be issued
and sold at Closing to such Investor as set forth in Section 1.4 hereto registered in the name of such Investor.

 

1.3. Investor
Closing Deliverables. The Investor shall deliver or cause to be delivered to the Company the following (collectively, the “Investor
Deliverables”):

 

(a)
For the First Closing, this Agreement duly executed by the Investor; and

 

(b)
For each of the First, Second, and Third Closing, the applicable Investment Amount in immediately available funds, by Banker’s
Draft issued to the Escrow Agent set forth in Section 1.4 hereto, and the Investment Amount for each Closing shall thereafter be
distributed by the Escrow Agent to the Company.

 

1.4. Purchase
Price. The Total Investment Amount shall be Three Million United States Dollars ($3,000,000), and shall be delivered to the
Company in three equal installments, as follows:

 

(a)
The First Closing Investment Amount shall be One Million United States Dollars ($1,000,000). With respect to the First Closing,
the Investor shall be entitled to receive one million (1,000,000) shares of Common Stock (the “First Closing Shares”)
at a price of $1 per share (the “First Closing Purchase Price”). The First Closing Purchase Price is based upon
a US$42,797,008 valuation of the Company immediately prior to the Offering, provided that such valuation excludes a planned employee
option pool representing 5% of the fully diluted post-Offering capitalization, exclusive of any shares or options to acquire shares
of the Common Stock that have been previously issued, granted or otherwise committed by the Company (verbally or in writing) prior
to the Offering.

 

(b)
The Second Closing Investment Amount shall be One Million United States Dollars ($1,000,000). With respect to the Second
Closing, the Investor shall be entitled to receive that number of shares of Common Stock (the “Second Closing Shares”)
equal to the ratio of the Second Closing Investment Amount divided by the greater of: (i) 67% the per share price of Common Stock
in the most recent financing transaction (whether such transaction be public or private) as consummated by the Company prior to
the Second Closing, or (ii) $1 per share (as applicable, the “Second Closing Purchase Price”).

 

(c)
The Third Closing Investment Amount shall be One Million United States Dollars ($1,000,000). With respect to the Third Closing,
the Investor shall be entitled to receive that number of shares of Common Stock (the “Third Closing Shares”)
equal to the ratio of the Third Closing Investment Amount divided by the greater of: (i) 67% the per share price of Common Stock
in the most recent financing transaction (whether such transaction be public or private) as consummated by the Company prior to
the Third Closing, or (ii) $1 per share (as applicable, the “Third Closing Purchase Price”).

 

1.5. Anti-dilution.
In the event of any change in the Company’s capital stock, between the date of this Agreement and the completion of each
Closing, by reason of any stock dividend, reclassification, recapitalization, split, division, combination or exchange of shares,
then with respect to the Securities yet to be issued, there will be a proportionate adjustment made to the applicable Purchase
Price and the Shares Purchased at each Closing, to reflect such change.

 

1.6. Consultant.
The Company agrees to retain Jeff Lim, or any other individual as designated by the Investor and reasonably acceptable to the Company,
as a paid consultant to the Company for the production of the Company’s reality TV series, on terms to be mutually agreed
by the Company and such consultant.

 

    	 	2	 

     

    

 

1.7. Directorship.
The Company shall appoint a nominee of the Investor (the “Investor Nominee”) to be a member of the Company’s
Board of Directors once the Company is in receipt of $3 million in gross proceeds pursuant to the Agreement and for as long as
the Investor holds such number of shares represented by the Aggregate Closing Shares. The Investor Nominee shall resign or be removed
from the Company’s Board of Directors immediately after the Investor transfers, sells, gifts, or otherwise disposes of any
number of the Aggregate Closing Shares received pursuant to the Subscription Agreement. From the date of this Agreement until the
appointment of the Investor Nominee to the Company’s Board of Directors, the Investor Nominee may attender meetings of the
Board of Directors as an observer. The Investor Nominee’s observer status with the Board of Directors shall be revoked immediately
after the Investor transfers, sells, gifts, or otherwise disposes of any portion of the First Closing Shares, Second Closing Shares
and Third Closing Shares received pursuant to the Agreement.

 

Article II. REPRESENTATIONS
AND WARRANTIES

 

2.1 Representations
and Warranties of the Company. The Company hereby represents and warrants to the Investor as follows:

 

(a)
Organization and Standing. The Company is duly incorporated and validly existing under the laws of the State of Florida,
and has all requisite corporate power and authority to own or lease its properties and assets and to conduct its business as it
is presently being conducted. The Company has no subsidiaries other than: Rebel Holdings Limited, Pure Heart Entertainment Pte.
Ltd., SCA Capital Limited, Rebel Shanghai Limited and Qingdao Quanyao Sports Consulting Ltd.

 

(b)
Authorization; Enforcement. The Company has full corporate power and authority to execute and deliver this Agreement,
and any documents and instruments related to or contemplated by this Agreements (each a “Transaction Document”
and collectively, the “Transaction Documents”) and to perform its obligations hereunder. The execution and delivery
by the Company of each of the Transaction Documents and the performance by the Company of its obligations thereunder, have been
duly and validly authorized by the board of directors of the Company, no other corporate action on the part of the Company or its
stockholders being necessary. Each of the Transaction Documents has been or will be duly and validly executed and delivered by
the Company, and constitutes, or will constitute a legal, valid and binding obligation of the Company enforceable against the Company
in accordance with their respective terms except as enforceability may be limited by bankruptcy, insolvency and other laws of general
application affecting the enforcement of creditors’ rights and except that any granting of equitable relief is in the discretion
of the court.

 

(c)
No Conflicts. The execution, delivery and performance of the Transaction Documents by the Company and the consummation
by the Company of the transactions contemplated thereby do not and will not (i) conflict with or violate any provision of the Company’s
governing documents, or (ii) conflict with or constitute a default under any agreement to which the Company is a party, or (iii)
result in a violation of any law, rule, regulation, order or judgment to which the Company is subject.

 

(d)
Filings, Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization, approval
or order of, give any notice to, or make any filing or registration with, any federal, provincial, state, local or other governmental
authority or other entity in connection with the execution, delivery and performance by the Company of the Transaction Documents,
other than (i) filings required by state securities laws or (ii) the filing of a Notice of Sale of Securities on Form D with the
Securities and Exchange Commission (the “Commission”) under Regulation D of the Securities Act of 1933,
as amended (the “Securities Act”).

 

    	 	3	 

     

    

 

(e)
Issuance of the Securities. The Securities have been duly authorized and, when issued and paid for in accordance
with the Transaction Documents, will be duly and validly issued, fully paid and non-assessable, free and clear of any and all liens
encumbrance, security interest, pre-emptive right, or any other restrictions of any kind.

 

(f)
Litigation. There is no legal action, including a suit, inquiry or notice, which (i) adversely affects or challenges
the legality, validity or enforceability of any of the Transaction Documents or the Securities or (ii) except as specifically disclosed
in the Company’s reports required to be filed by it under the Securities Act and the Securities Exchange Act of 1934, as
amended from time to time (the “Exchange Act”), could, if there were an unfavorable decision, individually or
in the aggregate, have or reasonably be expected to result in a material adverse effect on the Company.

 

2.2 Representations
and Warranties of the Investor. The Investor represents and warrants to the Company as follows:

 

(a)
Authority. The Investor has full power and authority to execute and deliver this Agreement and perform Investor’s
obligations hereunder. Each of this Agreement and the other Transaction Documents to which it is a party has been duly executed
by such Investor, and when delivered by such Investor in accordance with the terms hereof, will constitute the valid and legally
binding obligation of such Investor, enforceable against it in accordance with its terms, except as such enforceability may be
limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting
generally the enforcement of, creditors’ rights and remedies or by other equitable principles of general application.

 

(b)
Investment Intent. The Investor is acquiring the Securities as principal for its own account for investment purposes
only and not with a view to or for distributing or are selling such Securities or any part thereof, however, the Investor has the
right to sell or otherwise dispose of all or any part of such Securities in compliance with applicable securities laws. Such Investor
is acquiring the Securities in the ordinary course of its business and does not have any agreement or understanding, directly or
indirectly, with any person or entity to distribute any of the Securities.

 

(c)
Investor Status.

 

(i) The Investor agrees
and acknowledges that Investor was not, a “U.S. Person” (as defined below) at the time the Investor was offered the
Securities and as of the date hereof and as of the date of each Closing, and is not investing as any of the following:

 

(A) A
natural person resident in the United States;

 

(B) A
partnership or corporation organized or incorporated under the laws of the United States;

 

(C) An
estate of which any executor or administrator is a U.S. person;

 

(D) A
trust of which any trustee is a U.S. person;

 

(E) An
agency or branch of a foreign entity located in the United States;

 

(F) A
non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit
or account of a U.S. person;

 

    	 	4	 

     

    

 

(G) A
discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated,
or (if an individual) resident of the United States; and

 

(H) A
partnership or corporation formed to allow a U.S. Person to invest.

 

“United States” or “U.S.”
means the United States of America, its territories and possessions, any State of the United States, and the District of Columbia.

 

(ii) The Investor understands
that no action has been or will be taken in any jurisdiction by the Company that would permit a public offering of the Securities
in any country or jurisdiction where action for that purpose is required.

 

(iii) The Investor (i)
as of the execution date of this Agreement is not located within the United States, and (ii) is not purchasing the Securities for
the account or benefit of any U.S. Person, except in accordance with one or more available exemptions from the registration requirements
of the Securities Act or in a transaction not subject thereto.

 

(iv) The Investor will
not resell the Securities except in accordance with applicable laws.

 

(v) The Investor will
not engage in hedging transactions with regard to shares of the Company except as permitted by applicable laws.

 

(vi) No form of “directed
selling efforts” (as defined in Rule 902 of Regulation S under the Securities Act), general solicitation or general advertising
has been or will be used by the Investor or any of Investor’s representatives in connection with the offer and sale of the
purchased Securities.

 

(d)
Access to Information. The Investor acknowledges that Investor has had the opportunity to review the Company’s
filings with the Commission available to be viewed online on the EDGAR system at https://www.sec.gov/edgar/searchedgar/companysearch.html,
as well as the risk factors regarding the Company attached hereto as Exhibit A and has had (i) the opportunity to ask questions
he or she deemed necessary and to receive answers from, representatives of the Company concerning the terms and conditions of
the offering of the Securities and the merits and risks of investing in the Securities; (ii) access to information about the Company
and its respective financial condition, results of operations, business, properties, management and prospects sufficient to enable
it to evaluate its investment; and (iii) the opportunity to obtain such additional information that any Investor requests that
the Company possesses or can acquire without unreasonable effort or expense..

 

(e)
Holding Period Required. The Investor understands that the Securities are subject to the application of Rule 144
under the Securities Act (“Rule 144”) and that all conditions for sale must be met under Rule 144, including,
but not limited to, a six-month holding period for non-affiliates and a one-year holding period for affiliates. The Investor further
understands that the Company may in its sole discretion require the Investor to provide at Investor’s own expense an opinion
of its counsel to the effect that any proposed transfer is not in violation of the Securities Act or any state securities laws.
The Investor further acknowledges that the certificates evidencing the Securities shall bear the following legend:

 

“These securities have
not been registered with the United States Securities And Exchange Commission or the Securities Commission of any state in reliance
upon an exemption from registration under The Securities Act of 1933, as amended (The “Securities Act”), and,
accordingly, may not be offered or sold except pursuant to an effective registration statement under the Securities Act or pursuant
to an available exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in
accordance with applicable state securities law as evidenced by a legal opinion of counsel to the transferor to such effect, the
substance of which shall be reasonably acceptable to the Company.”

 

    	 	5	 

     

    

 

(f)
Independent Investment Decision. The Investor has independently evaluated the merits of its decision to purchase
the Securities pursuant to the Transaction Documents, is not relying on any oral statements from the Company’s officers or
directors and has received no warranties other than those set forth herein.

 

Article III. CONDITIONS
PRECEDENT TO CLOSING

 

3.1 Conditions Precedent to the
Obligations of the Investor to Purchase the Securities. The obligation of the Investor to acquire the Securities at each Closing
is subject to the satisfaction or waiver by the Investor, at or before each Closing, of each of the following conditions: (a) at
or before each Closing, the representations and warranties of the Company contained herein shall be true and correct in all material
respects as of the date when made and as of the Closing as though made on and as of such date; (b) at or before each Closing, the
Company shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required
by the Transaction Documents to be performed, satisfied or complied with by it at or prior to each Closing; (c) at or before each
Closing, no statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions
contemplated by the Transaction Documents; (d) since the date of execution of this Agreement, no event or series of events shall
have occurred that reasonably could have or result in a material adverse effect with respect to the Company; and (e) at or before
each Closing, the Company shall have delivered the Company Deliverables in accordance with Section 1.2.

 

3.2 Conditions Precedent to the
Obligations of the Company to Sell the Securities. The obligation of the Company to sell the Securities at each Closing is
subject to the satisfaction or waiver by the Company, at or before each Closing, of each of the following conditions: (a) the representations
and warranties of the Investor contained herein shall be true and correct in all material respects as of the date when made and
as of each Closing Date as though made on and as of such date; (b) the Investor shall have performed, satisfied and complied in
all material respects with all covenants, agreements and conditions required by the Transaction Documents to be performed, satisfied
or complied with by such investor at or prior to each Closing; (c) no statute, rule, regulation, executive order, decree, ruling
or injunction shall have been enacted, entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction
that prohibits the consummation of any of the transactions contemplated by the Transaction Documents; and (d) the Investor shall
have delivered its Investor Deliverables in accordance with Section 1.3.

 

Article IV. MISCELLANEOUS

 

4.1 Use of Proceeds. The
Company will use the net proceeds from the sale of the Securities hereunder to aid in the Company’s business operation such
as holding events, producing reality shows, achieving NASDAQ uplisting, and for working capital and general corporate purposes.

 

4.2 Entire Agreement. This
Agreement and the exhibits hereto and thereto constitute the full and entire understanding and agreement between the parties with
regard to the subjects hereof. No party shall be liable or bound to any other party in any manner with regard to the subjects hereof
or thereof by any warranties, representations or covenants except as specifically set forth herein.

 

    	 	6	 

     

    

 

4.3 Notices. Any notice permitted
or required under this Agreement shall be deemed to have been given if the notice is in writing and personally served, mailed by
registered or certified mail (return receipt requested), mailed by courier with confirmed receipt or sent by facsimile with confirmation,
or by registered mail, to the parties at the following addresses:

 

	If to the Company:	Rebel Group, Inc.
	 	Attn: Mr. Justin Leong
	 	7500A Beach Road, #12-313,
	 	The Plaza, Singapore 199591
	 	Fax: 65 63387806
	 	Email: justinleong@rebelfc.com.sg
	 	kkleong@rebelfc.com.sg
	 	 
	If to the Investor:	To the address set forth under such Investor’s name on the signature pages hereof

 

Each party may change its address by giving
similar notice. Notices given as provided herein shall be deemed effective as of the date sent or facsimile transmission.

 

4.4 Amendments; Waivers.
No provision of this Agreement may be waived or amended except in a writing signed by the Company and the Investors. No such waiver
will be deemed to be a waiver of any other or further obligation or liability of the party or parties in whose favor the waiver
was given.

 

4.5 Construction. This Agreement
shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring
any party by virtue of the authorship of any provisions of this Agreement or any of the Transaction Documents.

 

4.5 Successors and Assigns.
This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns. Neither
party hereto may assign this Agreement or any rights or obligations hereunder without the prior written consent of the other party
hereto.

 

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

 

4.8 Governing Law. All questions
concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and
enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof.

 

4.9 Survival. The representations,
warranties, agreements, covenants and Section 1.7 contained herein shall survive the Closing and the delivery of the Securities.

 

4.10 Execution. This Agreement
may be executed in one or more counterparts each of which shall be deemed an original, but all of which shall together constitute
one and the same instrument.

 

4.11 Severability. Each provision
of this Agreement shall be considered severable and, if for any reason any provision or provisions hereof are determined to be
invalid or contrary to applicable law, such invalidity or illegality shall not impair the operation of or affect the remaining
portions of this Agreement.

 

4.12 Replacement of Securities.
If any certificate evidencing any Securities is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued
in exchange a new certificate, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft, mutilation
or destruction of the certificate and a customary indemnity, if requested. The applicants for a new certificate under this Section
are responsible for paying reasonable third-party costs associated with the issuance of any replacement Securities.

 

[SIGNATURE PAGES FOLLOW]

 

    	 	7	 

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Subscription Agreement to be duly executed by their respective authorized signatories as of
date first written above.

 

	REBEL GROUP, INC.	 
	 	 	 
	Date: March 16, 2018	 
	 	 	 
	By:	/s/ Leong Aan Yee Justin	 
	Name: 	Mr. Leong Aan Yee Justin	 
	Title: 	President and CEO	 

 

     

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Subscription Agreement to be duly executed by their respective authorized signatories as the
date set forth above.

 

	 	NAME OF INVESTOR
	 	 	 
	 	Signature:	/s/ Shaw Chai Li, Howard 
	 	Name:	Shaw Chai Li, Howard
	 	Title:	Mr.

 

	 	Closing Date:	 
	 	ID (or Passport) No.:	

 

	 	ADDRESS FOR NOTICE
	 	 	 
	 	Attention:	Mr. Shaw Chai Li, Howard
	 	Address:	
	 	 	
	 	 	 
	 	Tel:	
	 	Fax:	 
	 	Email:	
	 	 	 
	 	DELIVERY INSTRUCTIONS 
	 	(if different from above)
	 	 	 
	 	Attention:	 
	 	Address:	 
	 	 	 
	 	 	 
	 	Tel:	 
	 	Fax:	 
	 	Email:	 

 

     

     

    

 

Exhibit A

 

Risk Factors

 

Rebel Group, Inc.

RISK FACTORS

 

Rebel Group, Inc.
(the “Company”) is a Florida corporation. The Company organizes, promotes and hosts mixed martial arts (“MMA”)
events featuring top level athletic talent. The following risk factors are being provided in connection with an offering by the
Company of up to $15,000,000 of the Company’s $.0001 par value per share common stock (the “Common Stock”) (the
“Offering”). Our business, financial condition and results of operations could be seriously harmed as a consequence
of any of the following risks and uncertainties. Our investors may lose all or part of their investment due to any of these risks
and uncertainties.

 

These risks and
uncertainties are not the only ones we face. Additional risks and uncertainties not presently known to us or that we currently
deem less significant also may impair our business, financial condition and results of operations. For additional discussion of
risks associated with an investment in the Company please also see the Company’s filings with the Securities and Exchange
Commission available to be viewed online on the EDGAR system at https://www.sec.gov/edgar/searchedgar/legacy/companysearch.html.

 

Risk Factors
Related to the Business

 

The Company’s
remaining planned events for 2018 may not occur as planned, or even if they do occur, there can be no assurance that they will
be successful or profitable.

 

The Company has
held two MMA event in 2017. The Company plans to hold eight additional events in China in 2018. However there can be no assurance
that such events will occur, or even if they do occur there can be no guarantee that such events will be successful or profitable.

 

We may not
be able to develop content to capture audiences or a market share.

 

The creation,
marketing and distribution of our live entertainment are the core of our business. The production of compelling live content is
critical to our ability to generate revenues across our media platforms. Our failure to continue to create popular live events
and televised programming would likely lead to a decline the attendance at our live events and our audience to the TV shows, which
would adversely affect our results of operations.

 

We may not
be able to retain or recruit outstanding fighters for our events.

 

Our success is
largely dependent on our ability to recruit and retain renowned fighters to fight in our event. We cannot assure you that we will
be able to continue to identify and retain well known, popular or top fighters in the future. Additionally, we cannot guarantee
that we are able to retain existing fighters during the term of their contract. Our failure to retain and identify fighters could
affect our event attendance and TV viewership and therefore, our results of operations, which could lead to a loss of part or all
of your investment in the Company.

 

It is difficult
to generate and maintain audience’s interest in our fighters.

 

Part of our business
is to the creation of storylines based on fighters’ background. We cannot guarantee that we can always create appealing storylines
for the fighters to capture MMA fans’ interest in attending our events or watching them on television. This could lead to
a lack of viewership and may adversely affect our results of operations.

 

    	 	A-1	 

     

    

 

We may become
subject to new legislation or regulations governing MMA fighting.

 

While the mixed
martial arts sector is currently regulated by the Singapore or PRC governments, hosting MMA events requires certain permits and
licenses. In addition, MMA continues to draw attention of governments which may result in new legislation and rules. We cannot
make any assurances that we will be able to comply with new legislation or rules or that such compliance would not be too expensive
for us. Failure to comply may lead to a total stop of our operations and prohibit us from continuing our business, which could
lead to a loss of part or all of your investment in the Company.

 

We may not
be able to secure contracts with video streaming sites for our Pay-per-view business.

 

Part of our growth
strategy is to start delivering our shows by streaming them through Pay-Per-View (“PPV”) channels and over the internet.
There can be no assurance that we will secure licensing contracts with PPV providers or televisions stations that offer PPV. Our
inability to secure PPV would negatively impact our growth prospects and result of operations.

 

We may not
be able to secure event venues.

 

We cannot provide
any assurance that we will be able to book event venues at ideal locations to attract audiences to patronize to our events. Our
ability to book venues is subject to other events in the area and the price we can afford to pay. This could adversely affect our
event hosting abilities and thus our ability to generate revenues and operate our business, which could lead to a loss of part
or all of your investment in the Company.

 

We may encounter
media censorship in overseas markets.

 

Our content may
be censored in countries such as China due to the inherent violence involved in MMA fighting. Such censorship would not allow us
to televise events or sell PPV viewings and may adversely affect our results of operations. In addition, changes in the policies
of the Chinese government, for instance, could have a significant impact on our business. We may also be prohibited from promoting
or conducting our live fighting events in the country. The inability to do so over an extended period of time could adversely affect
our profitability and results of operations, which could lead to a loss of part or all of your investment in the Company.

 

We may not
be able to secure sufficient sponsorship.

 

Sponsorship is
essential to our revenue and business model. We usually obtain sufficient sponsorship prior to organizing a live event. However,
we cannot make any assurance that we will be able secure adequate sponsorship for each of our events. Ticket and PPV sales are
only parts of our revenue model and sponsorships are critical to making an event profitable. Our inability to secure sufficient
sponsorships for each event could adversely affect our results of operations.

 

We may not
be able to secure television stations to broadcast our shows.

 

In addition to
hosting live events, part of our intended revenue stream is to come from TV distribution. However, we cannot guarantee that we
will be able to find TV channels to broadcast our events. Our ability to secure the airtime of our events on TV is affected by
various factors, among other things, whether a TV station requires payment from the Company for the broadcasting, whether there
is an available slot for the Company’s event and whether there is any censorship on events with violent content. In addition,
if no TV station is willing to broadcast our events, our events and our brand will not have sufficient publicity in the media;
therefore, it may negatively impact the sale of our future events. Thus, the failure to sell the rights to broadcast our events
to TV stations would adversely affect our performance and growth.

 

    	 	A-2	 

     

    

 

We depend
on the services of key executives, the loss of whom could materially harm our business and our strategic direction.

 

Our future success
significantly depends on the continued service and performance of our key management personnel. Our growth direction is largely
dependent on Mr. Aan Yee Leong Justin and Mr. KK Leong. The loss of the services by Messrs. Aan Yee Leong and KK Leong due to unexpected
reasons could have a material adverse effect on our ability to create creative and enticing shows which could adversely affect
our operating results and market our events as well as our business prospects. We cannot assure that Messrs. Leong and Leong’s
services will continue to be available to us. We depend on the services of these key executives, the loss of whom could materially
harm our business and our strategic direction.

 

We may face
disruptions of the systems and equipment utilized in our live events.

 

We rely largely
on outside contractors to supply us with the sound and lighting equipment for our live events. Although the Company inspects such
equipment upon delivery from the contractors prior to an event, we cannot guarantee if such equipment may function without disruptions
in the live event. In the event the provided equipment or system malfunctions at a live event, it will result in disruption of
the progression of our event and may have a negative impact on the Company’s reputation. This would also affect our ability
to retain audience and would affect our future events in the MMA market.

 

We may face
pressure from parental, government, or other groups to stop our operations.

 

Our live events
are considered violent and usually rated as Parental Guidance required. Due to the inherent violence involved in MMA, we may face
pressure from nonprofit organizations or parental groups to prohibit events to be held, marketed or broadcast in countries which
we currently operate in or plan to expand to. This could negatively impact our ability to market our brand, reduce the number of
sponsorships that we may obtain and adversely affect our revenue from live event ticket sales and TV broadcasting.

 

Our quarterly
results of operations are subject to fluctuations due to the timing of our event hosting.

 

The timing of
our events may result in significant fluctuations in our quarterly performance. We typically incur most cash costs for an event
within the third month immediately preceding the event, and the month of the event. Due to these substantial up-front financial
requirements to recruit fighters, rent venues, advertise as well as other costs to prepare for the events, the quarterly results
of our financials may incur significant expense and vary from quarter to quarter depending on the timing of when our events are
held.

 

We may not
be able to maintain profitability.

 

Maintaining profitability
depends upon numerous factors, including our ability to generate increased revenues and our ability to control expenses. We may
incur significant losses in the future for a number of reasons, including the other risks described herein and our ongoing depreciation
and amortization expense, and we may encounter unforeseen expenses, difficulties, complications, delays and other unknown events.
Accordingly, we can make no assurances that we will be able to achieve, sustain or increase profitability in the future. If we
are not able to sustain or increase profitability in the future, it may lead to a loss of part or all of your investment in the
Company.

 

    	 	A-3	 

     

    

 

We may not
be able to obtain and maintain licenses and permits necessary for our operation, in compliance with laws, regulations and other
requirements, which could adversely affect our business, results of operations or financial condition.

 

We are subject
to various laws and regulations in the countries we operate that will be affecting our business. If we fail to comply with such
laws and regulations, we may be subject to various sanctions and/or penalties and fines or may be required to cease operations
until we achieve compliance, which could have an adverse effect on our business and our financial results.

 

Customer
complaints or litigation on behalf of our customers may adversely affect our business, results of operations or financial condition.

 

Our business may
be adversely affected by legal or governmental proceedings brought by or on behalf of our customers. In recent years, some combat
sports companies have been subject to lawsuits, including class action lawsuits, alleging violations of law regarding the brutal
nature of the fights. We are also subject to a variety of other claims in the ordinary course of business, including injury of
the fighters. These legal proceedings may adversely affect our operation results and profitability, which could lead to a loss
of part or all of your investment in the Company.

 

We have
a limited history of operating as a promoter for MMA events.

 

We are a development
stage company formed in the last 5 years, to carry out the MMA events and thus have a limited operating history. We started our
business in June of 2013 and to date we have only held six MMA events total in Singapore and China. Thus, we have limited experience
in promoting the MMA events. We expect that our results of operations may also fluctuate significantly in the future as a result
of a variety of market factors, including, among others, the dominance of other companies which has long-term history and experience
in the area of MMA, the entry of new competitors into the MMA business, our ability to attract, retain and motivate qualified personnel,
the initiation, renewal or expiration of our customer base, pricing changes by the company or its competitors, specific economic
conditions in the MMA business and general economic conditions. Accordingly, our future revenue and operating results are difficult
to forecast.. 

 

Failure
of us to adequately protect our intellectual property could injure the value of our brand.

 

Our business is
dependent on successful marketing and promotion of our branded events, therefore protecting our brand from intellectual property
infringement (such as counterfeiting our branded products and other unauthorized uses of our trademark) is important. Although
we will enforce our intellectual property rights, it may not be possible for us to detect all instances of brand infringement.
Additionally, where instances of brand infringement are detected, we cannot guarantee that such instances will be prevented as
there may be legal or factual circumstances that give rise to uncertainty as to the validity, scope and enforceability of our intellectual
property rights. Infringement of our trademark, copyright and other intellectual property rights by others could have an adverse
effect on our brand and hence affect our income. If we are not able to adequately protect our intellectual property, it can lead
to a loss of part or all of your investment in the Company.

 

    	 	A-4	 

     

    

 

Economic
downturns may lead to less disposable income of our potential audience, resulting in smaller audiences of our events. An economic
recession may also result in less sponsorship for our events.

 

An economic downturn
or adverse conditions in the global markets may negatively affect our earnings. Attendance of our events and purchases for viewing
of our shows may depend in part on the actual or perceived personal disposable income of our potential audiences. Our revenue is
also dependent on marketing budgets of our sponsors. These commercial contract payments are contingent upon the expenditures of
businesses across a wide range of industries, which industries may cut costs in response to any economic downturn.

 

Risk Factors
Related to this Offering and Our Common Stock

  

Investors will be relying on the
judgment of the Company’s management regarding the use of proceeds of this Offering. 

 

The Company expects to use the net proceeds
of this Offering to aid in the Company’s expansion into China and for working capital purposes. Investors in the Offering
will be relying on the judgment of the Company’s management regarding the application of the proceeds. The Company will apply
the proceeds of this Offering without the approval of the investors.

 

The Company may need to raise additional
capital in the immediate future which can cause dilution to your investment in the Company. 

 

After the conclusion of this Offering and
in the future, the Company will need to raise additional capital. If the Company raises additional capital through the issuance
of debt securities, the interests of investors in this Offering and other investors of the Company may be subordinated to the interests
of debt holders and any interest payments could reduce the amount of cash available to operate and grow the business. If the Company
raises additional capital through the sale of equity securities, the ownership of the investors in this Offering and the shareholders
of the Company would be diluted. Additionally, the Company does not know whether any financing, if obtained, will be adequate to
meet capital needs and to support future growth. If the Company is not able to raise such additional capital, it may negatively
affect or even shut down the Company’s operations which could lead to a loss of part or all of your investment in the Company.

 

Our shares of common stock are subject
to penny stock regulation.  Because our common stock is penny stock, holders of our common stock may find it difficult or
may be unable to sell their shares.

 

The SEC has adopted rules that regulate
broker/dealer practices in connection with transactions in penny stocks.  Penny stocks generally are equity securities with
a price of less than $5.00 (other than securities registered on certain national securities exchanges or quoted on the NASDAQ system,
provided that current price and volume information with respect to transactions in such securities is provided by the exchange
system).  The penny stock rules require a broker/dealer, prior to a transaction in a penny stock not otherwise exempt from
the rules, to deliver a standardized risk disclosure document prepared by the SEC that provides information about penny stocks
and the nature and level of risks in the penny stock market.  The broker/dealer also must provide the customer with bid and
offer quotations for the penny stock, the compensation of the broker/dealer, and its salesperson in the transaction, and monthly
account statements showing the market value of each penny stock held in the customer’s account.  In addition, the penny
stock rules require that prior to a transaction in a penny stock not otherwise exempt from such rules, the broker/dealer must make
a special written determination that a penny stock is a suitable investment for the purchaser and receive the purchaser’s
written agreement to the transaction.  These disclosure requirements may have the effect of reducing the level of trading
activity in any secondary market for a stock that becomes subject to the penny stock rules, and accordingly, holders of our common
stock may find it difficult or may be unable to sell their shares.

 

    	 	A-5	 

     

    

 

Our stock
price may be volatile and you may not be able to resell your shares at or above the price you paid.  In
addition, volatility in the price of our common stock may subject us to securities litigation resulting in substantial costs and
liabilities and diverting management’s attention and resources.

 

The market price of our common stock is
likely to be highly volatile and could fluctuate widely in price in response to various factors, many of which are beyond our control,
including the following:

 

	 	●	our ability to execute our business plan;
	 	●	changes in our industry;
	 	●	competitive pricing pressures;
	 	●	our ability to obtain working capital financing;
	 	●	additions or departures of key personnel;
	 	●	limited “public float” in
        the hands of a small number of persons whose sales or lack of sales could result in positive or negative pricing pressure
        on the market price for our common stock;
	 	●	sales of our common stock;
	 	●	operating results that fall below expectations;
	 	●	regulatory developments;
	 	●	economic and other external factors;
	 	●	period-to-period fluctuations in our financial results;
	 	●	our inability to develop or acquire new or needed technologies;

		●	the public’s response to press releases or other
public announcements by us or third parties, including filings with the SEC;

		●	changes in financial estimates or ratings by any securities
analysts who follow our common stock, our failure to meet these estimates or failure of those analysts to initiate or maintain
coverage of our common stock;

		●	the development and sustainability of an active trading
market for our common stock; and

		●	any future sales of our common stock by our officers, directors
and significant stockholders.

 

If the stock price of our Common Stock
fluctuates in response to the foregoing factors, it may make it difficult for investors in this Offering to be able to sell or
transfer the Common Stock shares acquired in this Offering and can lead to a loss of part or all of your investment in the Company.

 

FINRA sales practice requirements may also limit a stockholder’s
ability to buy and sell our stock.

 

In addition to the “penny stock”
rules described above, FINRA has adopted Rule 2111 that requires a broker-dealer to have reasonable grounds for believing that
an investment is suitable for a customer before recommending the investment.  Prior to recommending speculative low priced
securities to their non-institutional customers, broker-dealers must make reasonable efforts to obtain information about the customer’s
financial status, tax status, investment objectives and other information.  Under interpretations of these rules, FINRA believes
that there is a high probability that speculative low priced securities will not be suitable for at least some customers.  The
FINRA requirements make it more difficult for broker-dealers to recommend that their customers buy our common stock, which may
limit your ability to buy and sell our stock and have an adverse effect on the market for our shares, which could lead to a loss
of part or all of your investment in the Company.

 

    	 	A-6	 

     

    

 

Because we are a small company with
a limited operating history, stockholders may find it difficult to sell their common stock in the public markets.

 

Our common stock is currently traded on
the OTC Markets OTCQB under the symbol “REBL.”  The number of persons interested in purchasing our common stock
at or near bid prices at any given time may be relatively small. This situation is attributable to a number of factors, including
the fact that we are a small company which is still relatively unknown to stock analysts, stock brokers, institutional investors,
and others in the investment community that generate or influence sales volume, and that even if we came to the attention of such
persons, they tend to be risk-averse and would be reluctant to follow an unproven company such as ours or purchase or recommend
the purchase of our common stock until such time as we became more viable.  Additionally, many brokerage firms may not be
willing to effect transactions in our securities.  As a consequence, there may be periods of several days or more when trading
activity in our common stock is minimal or non-existent, as compared to a seasoned issuer which has a large and steady volume of
trading activity that will generally support continuous sales without an adverse effect on the stock price.  We cannot give
you any assurance that an active public trading market for our common stock will develop or be sustained, or that trading levels
will be sustained, which could lead to a loss of part or all of your investment in the Company.

 

Future issuances of our preferred stock could dilute the
voting and other rights of holders of our common stock.

 

Our board of directors has the authority
to issue shares of preferred stock in any series and may establish, from time to time, various designations, powers, preferences
and rights of the shares of each such series of preferred stock.  Any issuances of preferred stock may have priority over
the common stock with respect to dividend or liquidation rights.  Any future issuance of preferred stock may have the effect
of delaying, deferring or preventing a change in control of our company and may adversely affect the voting and other rights of
the holders of our common stock.  

 

If we are unable to comply with the
financial reporting requirements mandated by the SEC’s regulations, investors may lose confidence in our financial reporting
and the price of our common stock could decline.

 

If we fail to maintain effective internal
controls over financial reporting, our ability to produce timely, accurate and reliable periodic financial statements could be
impaired.  If we do not maintain adequate internal control over financial reporting, investors could lose confidence in the
accuracy of our periodic reports filed under the Exchange Act.  Additionally, our ability to obtain additional financing could
be impaired or a lack of investor confidence in the reliability and accuracy of our public reporting could cause our stock price
to decline.

 

Our directors, executive officers
and controlling persons as a group have significant voting power and may take actions that may not be in the best interest of shareholders.

 

Our directors, executive officers and controlling
persons as a group beneficially own approximately 57.51% of our Common Stock.  They will have the ability to exert substantial
influence over all matters requiring approval by our stockholders, including the election and removal of directors and any proposed
merger, consolidation or sale of all or substantially all of our assets. In addition, they could dictate the management of our
business and affairs. This concentration of ownership could have the effect of delaying, deferring or preventing a change in control,
or impeding a merger or consolidation, takeover or other business combination that could be favorable to stockholders. This significant
concentration of share ownership may also adversely affect the trading price for our Common Stock because investors may perceive
disadvantages in owning stock in a company with controlling affiliated stockholders.

 

    	 	A-7	 

     

    

 

We expect that our revenue will fluctuate,
which could cause our stock price to decline.

 

Any significant decline on selling our
tickets to the events, unfavorable TV distribution deals that we enter into, or changes in the spending behavior of our customers
could adversely affect our revenue growth. If our revenue fluctuates or does not meet the expectations of securities analysts and
investors, our stock price would likely decline.

 

If securities or industry analysts
do not publish research or reports about our business, if they adversely change their recommendations regarding our common stock,
or if our operating results do not meet their expectations, our stock price and trading volume could decline.

 

The trading market for our common stock
will be influenced by the research and reports that securities or industry analysts publish about us or our business. We do not
have any control over these reports or analysts. If any of the analysts who cover our company downgrades our stock, or if our operating
results do not meet the analysts’ expectations, our stock price could decline. Moreover, if any of these analysts ceases
coverage of our company or fails to publish regular reports on our business, we could lose visibility in the financial markets,
which in turn could cause our stock price and trading volume to decline.

 

Our Common Stock is subject to risks
arising from restrictions on reliance on Rule 144 by shell companies or former shell companies.

 

Under a regulation of the SEC known as
“Rule 144,” a person who beneficially owns restricted securities of an issuer and who is not an affiliate of that issuer
may sell them without registration under the Securities Act provided that certain conditions have been met. One of these conditions
is that such person has held the restricted securities for a prescribed period, which will be 6 months for the Common Stock. However,
Rule 144 is unavailable for the resale of securities issued by an issuer that is a shell company (other than a business combination
related shell company) or, unless certain conditions are met, that has been at any time previously a shell company. The SEC defines
a shell company as a company that has (a) no or nominal operations and (b) either (i) no or nominal assets, (ii) assets consisting
solely of cash and cash equivalents; or (iii) assets consisting of any amount of cash and cash equivalents and nominal other assets.

 

On January 30, 2015, we completed the acquisition
of Rebel Holdings Limited (“Rebel FC”) pursuant to a Share Exchange Agreement, (the “Share Exchange Agreement,”
such transaction, the “Share Exchange Transaction”), whereby the Company issued shares of its common stock to a stockholder
of Rebel FC in exchange for 100% of the equity interests of Rebel FC held by that Rebel FC stockholder. After the sale by the Company
of Moxian BVI in February 2014 and prior to the Share Exchange Transaction, the Company did not have any operations; therefore,
the Company was a shell company. While we believe that as a result of the Share Exchange Transaction, the Company ceased to be
a shell company, the SEC and others whose approval is required in order for shares to be sold under Rule 144 might take a different
view.

 

Rule 144 is available for the resale of
securities of former shell companies if and for as long as the following conditions are met:

 

(i) the issuer of the securities that was
formerly a shell company has ceased to be a shell company,

 

(ii) the issuer of the securities is subject
to the reporting requirements of Section 13 or 15(d) of the Exchange Act,

 

(iii) the issuer of the securities has
filed all Exchange Act reports and material required to be filed, as applicable, during the preceding 12 months (or such shorter
period that the issuer was required to file such reports and materials), other than Current Reports on Form 8-K; and

 

(iv) at least one year has elapsed from
the time that the issuer filed current comprehensive disclosure with the SEC reflecting its status as an entity that is not a shell
company known as “Form 10 Information.”

 

    	 	A-8Exhibit
10.7

 

REBEL
GROUP, INC.

SUBSCRIPTION
AGREEMENT

 

Mr.
Justin Aan Yee Leong, CEO

Rebel
Group, Inc.

7500A
Beach Road, #12-313,

The
Plaza, Singapore 199591

 

This
Subscription Agreement (this “Agreement”) is by and between Rebel Group, Inc., a Florida corporation (the “Company”),
and the investors identified on the signature pages hereto as of the dates indicated thereon (each, an “Investor”
and together, the “Investors”).

 

RECITALS:

 

WHEREAS,
the Company desires to issue and sell to each Investor, and each Investor, severally and not jointly, desires to purchase from
the Company, the number of shares of the Company’s common stock (the “Common Stock”) as set forth in
Article I hereinafter, at the prices per share as set forth in Article I hereinafter, at the price per share as
set forth in Article 1.4 hereinafter (the “Offering”).

 

NOW
THEREFORE, in consideration of the mutual covenants contained in this Agreement, and for other good and valuable consideration
the receipt and adequacy of which are hereby acknowledged, the Company and each Investor agree as follows:

 

ARTICLE
1. 

PURCHASE
AND SALE

 

1.1.
Closing. The closings (each, a “Closing”) of the purchase and sale of the shares of Common Stock being
offered and sold to each of the Investors by the Company pursuant to this Agreement (the “Securities”) in exchange
for the applicable purchase prices, shall take place upon acceptance of each Investor’s funds and countersignature by the
Company of this Agreement. There will be multiple Closings as subscriptions are received (the date of any such Closing is hereinafter
referred to as a “Closing Date”).

 

(a) First
Closing. The first Closing will take place upon receipt by the Company’s escrow agent, Pure Heart Entertainment Pte Ltd (the “Escrow
Agent”) of the First Closing Investment Amount (defined below) (the “First Closing”), on 16 August 2018.

 

(b) Second
Closing. The second Closing will take place upon receipt by the Company’s Escrow Agent of the Second Closing Investment Amount
(defined below) (the “Second Closing”), upon the occurrence of the Triggering Event (defined below). For purposes of
this Agreement: (i) “Triggering Event” means the Investor or an affiliated business of the Investor having obtained
approval to operate in the business of horse racing and/or Mixed Martial Arts from the relevant authorities of Mongolia, prior
to the date the Company’s S-1 Statement gains effectiveness upon receiving approval from the U.S. Securities and Exchange Commission
(the “Effective Date”).

 

     

     

    

 

(c) Optional
First Closing. The optional first Closing, solely at the option of the Investor, will take place upon receipt by the Company’s
Escrow Agent of the Optional First Closing Investment Amount (defined below) (the “Optional First Closing”), upon the
occurrence of the Triggering Event (defined below). For purposes of this Agreement: (i) “Triggering Event” means the
Investor or an affiliated business of the Investor having obtained approval to operate in the business of horse racing and/or
Mixed Martial Arts from the relevant authorities of Mongolia, prior to the Effective Date.

 

(d) Optional
Second Closing. The optional second Closing, solely at the option of the Investor, will take place upon receipt by the Company’s
Escrow Agent of the Optional Closing Investment Amount (defined below) (the “Optional Closing”), on or before the Effective
Date.

 

1.2
Closing Deliveries.The Company shall deliver or cause to be delivered to each Investor the following (the “Company
Deliverables”) provided that the Investor has satisfied all conditions set forth herein and has executed this Agreement:

 

(a)
For the First Closing, this Agreement duly executed by the Company; and

 

(b) Within
14 days following each Closing, an original certificate representing the number of aggregate shares to be issued and sold at Closing
to such Investor as set forth in Section 1.4 hereto registered in the name of such Investor.

 

1.3
Investor Deliverables. At the Closing, each Investor shall deliver or cause to be delivered the following to the Company
(collectively, the “Investors Deliverables”) provided that the Company has accepted and executed this Agreement:

 

(a) For
the First Closing, this Agreement, duly executed by the Investor;

 

(b) For
each of the Closing, the applicable purchase price in immediately available funds, by Banker’s Draft issued to the escrow
agent set forth on the signature page of this Agreement, and the applicable purchase price shall thereafter be distributed by
the escrow agent to the Company.

 

1.4
Purchase Price. The Total Investment Amount shall be the total closing investment amount listed below, and shall be delivered
to the Company in separate installments, as follows:

 

(a) The
First Closing Investment Amount shall be One Million U.S. Dollars (US$1,000,000). With respect to the First Closing, the Investor
shall be entitled to receive one million (l,000,000) shares of Common Stock (the “First Closing Shares”) at a price
of $1 per share (the “First Closing Purchase Price”).

 

(b) The
Second Closing Investment Amount shall be One Million United States Dollars (US$1,000,000). With respect to the Second Closing,
the Investor shall be entitled to receive one million (1,000,000) shares of Common Stock (the “Second Closing Shares”)
at a price of $1 per share (the “Second Closing Purchase Price”).

 

    	 	2	 

     

    

 

(c) The
Optional First Closing Investment Amount shall be One Million United States Dollars (US$1,000,000). With respect to the Optional
First Closing, the Investor shall be entitled to receive one million (1,000,000) shares of Common Stock (the “Optional First
Closing Shares”) at a price of $1 per share (the “Optional First Closing Purchase Price”).

 

(d) The
Optional Second Closing Investment Amount shall be Two Million United States Dollars (US$2,000,000). With respect to the Optional
Secon Closing, the Investor shall be entitled to receive one million (1,000,000) shares of Common Stock (the “Optional Second
Closing Shares”) at a price of $2 per share (the “Optional Second Closing Purchase Price”).

 

ARTICLE
2.

REPRESENTATIONS
AND WARRANTIES

 

2.1
Representations and Warranties of the Company. The Company hereby represents and warrants to each Investor as follows:

 

(a) Organization
and Standing. The Company is duly incorporated and validly existing under the laws of the State of Florida, and has all requisite
corporate power and authority to own or lease its properties and assets and to conduct its business as it is presently being conducted.
The Company has no subsidiaries other than: Rebel Holdings Limited, Pure Heart Entertainment Pte. Ltd., SCA Capital Limited, Rebel
Shanghai Limited, and Qingdao Quanyao Sports Consulting Co Ltd.

 

(b) Authorization;
Enforcement. The Company has full corporate power and authority to execute and deliver this Agreement, and any documents
and instruments related to or contemplated by this Agreements (each a “Transaction Document” and
collectively, the “Transaction Documents”) and to perform its obligations hereunder. The execution
and delivery by the Company of each of the Transaction Documents and the performance by the Company of its obligations
thereunder, have been duly and validly authorized by the Board of Directors, no other corporate action on the part of the
Company or its stockholders being necessary. Each of the Transaction Documents has been or will be duly and validly executed
and delivered by the Company, and constitutes, or will constitute a legal, valid and binding obligation of the Company
enforceable against the Company in accordance with their respective terms except as enforceability may be limited by
bankruptcy, insolvency and other laws of general application affecting the enforcement of creditors’ rights and except
that any granting of equitable relief is in the discretion of the court.

 

    	 	3	 

     

    

 

(c)No
Conflicts.The execution, delivery and performance of the Transaction Documents by the Company and the consummation by
the Company of the transactions contemplated thereby do not and will not (i) conflict with or violate any provision of the Company’s
governing documents, or (ii) conflict with or constitute a default under any agreement to which the Company is a party, or (iii)
result in a violation of any law, rule, regulation, order or judgment to which the Company is subject.

 

(d) Filings,
Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization, approval or order of, give
any notice to, or make any filing or registration with, any federal, provincial, state, local or other governmental authority
or other entity in connection with the execution, delivery and performance by the Company of the Transaction Documents, other
than (i) filings required by state securities laws or (ii) the filing of a Notice of Sale of Securities on Form D with the Securities
and Exchange Commission (the “Commission”) under Regulation D of the Securities Act of 1933, as amended (the
“Securities Act”).

 

(e) Issuance
of the Securities. The Securities have been duly authorized and, when issued and paid for in accordance with the Transaction
Documents, will be duly and validly issued, fully paid and non-assessable, free and clear of any and all liens encumbrance, security
interest, pre-emptive right, or any other restrictions of any kind.

 

(f) Capitalization.
Prior to the Offering hereunder, the Company currently has 46,279,868 shares of Common Stock outstanding and no options warrants
or other rights to acquire Common Stock outstanding.

 

(g) Litigation.
There is no legal action, including a suit, inquiry or notice, which (i) adversely affects or challenges the legality, validity
or enforceability of any of the Transaction Documents or the Securities or (ii) except as specifically disclosed in the Company’s
reports required to be filed by it under the Securities Act and the Exchange Act, could, if there were an unfavorable decision,
individually or in the aggregate, have or reasonably be expected to result in a material adverse effect on the Company.

 

    	 	4	 

     

    

 

2.2
Representations and Warranties of the Investors. Each Investor hereby, for such Investor and for no other Investor, represents
and warrants to the Company as follows:

 

(a) Authority.
The Investor has full power and authority to execute and deliver this Agreement and perform Investor’s obligations hereunder.
Each of this Agreement and other Transaction Documents has been duly executed by such Investor, and when delivered by such Investor
in accordance with the terms hereof, will constitute the valid and legally binding obligation of such Investor, enforceable against
it in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium, liquidation or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies
or by other equitable principles of general application.

 

(b) Investment
Intent. Each Investor is acquiring the Securities as principal for its own account for investment purposes only and not with
a view to or for distributing or are selling such Securities or any part thereof, however, the Investor has the right to sell
or otherwise dispose of all or any part of such Securities in compliance with applicable securities laws. Such Investor is acquiring
the Securities in the ordinary course of its business and does not have any agreement or understanding, directly or indirectly,
with any person or entity to distribute any of the Securities.

 

(c) Investor
Status.

 

(i) The
Investor agrees and acknowledges that Investor was not, a “U.S. Person” (as defined below) at the time the Investor
was offered the Securities and as of the date hereof and is not investing as any of the following:

 

(A) A
natural person resident in the United States;

 

(B) A
partnership or corporation organized or incorporated under the laws of the United States;

 

(C) An
estate of which any executor or administrator is a U.S. person;

 

(D) A
trust of which any trustee is a U.S. person;

 

(E) An
agency or branch of a foreign entity located in the United States;

 

(F) A
non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit
or account of a U.S. person;

 

(G) A
discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated,
or (if an individual) resident of the United States; and

 

(H) A
partnership or corporation formed to allow a U.S. Person to invest.

 

“United
States” or “U.S.” means the United States of America, its territories and possessions, any State of the United
States, and the District of Columbia.

 

(ii)
The Investor understands that no action has been or will be taken in any jurisdiction by the Company that would permit a public
offering of the Securities in any country or jurisdiction where action for that purpose is required.

 

    	 	5	 

     

    

 

(iii)
The Investor (i) as of the execution date of this Agreement is not located within the United States, and (ii) is not purchasing
the Securities for the account or benefit of any U.S. Person, except in accordance with one or more available exemptions from
the registration requirements of the Securities Act or in a transaction not subject thereto.

 

(iv)
The Investor will not resell the Securities except in accordance with applicable laws.

 

(v)
The Investor will not engage in hedging transactions with regard to shares of the Company except as permitted by applicable laws.

 

(vi)
No form of “directed selling efforts” (as defined in Rule 902 of Regulation S under the 1933 Act), general solicitation
or general advertising has been or will be used by the Investor or any of Investor’s representatives in connection with
the offer and sale of the purchased Securities.

 

(d)
Access to Information. Each Investor acknowledges that Investor has had the opportunity to review the Company’s filings
with the Commission available to be viewed online on the EDGAR system at https://www.sec.gov/edgar/searchedgar/legacy/companysearch.html
as well as the risk factors regarding the Company attached hereto as Exhibit A and has had (i) the opportunity to ask
questions he or she deemed necessary and to receive answers from, representatives of the Company concerning the terms and conditions
of the offering of the Securities and the merits and risks of investing in the Securities; (ii) access to information about the
Company and its respective financial condition, results of operations, business, properties, management and prospects sufficient
to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional information that any Investor requests
that the Company possesses or can acquire without unreasonable effort or expense. Each Investor acknowledges that the Company
has previously sold Common Stock at prices lower than the Purchase Price as set forth in the Company filings, including but not
limited to, an offering at $0.50 per share.

 

(e) Holding
Period Required. The Investor understands that the Securities are subject to the application of Rule 144 under the
Securities Act (“Rule 144”) and that all conditions for sale must be met under Rule 144, including,
but not limited to, a six month holding period for non-affiliates and a one-year holding period for affiliates. The Investor
further understands that the Company may in its sole discretion require the Investor to provide at Investor’s own
expense an opinion of its counsel to the effect that any proposed transfer is not in violation of the Securities Act or any
state securities laws. The Investor further understands that the certificates evidencing the Securities shall bear the
following legend:

 

    	 	6	 

     

    

 

“These
securities have not been registered with the United States Securities And Exchange Commission or the Securities Commission of
any state in reliance upon an exemption from registration under The Securities Act of 1933, as amended (The “Securities
Act”), and, accordingly, may not be offered or sold except pursuant to an effective registration statement under the
Securities Act or pursuant to an available exemption from, or in a transaction not subject to, the registration requirements of
the Securities Act and in accordance with applicable state securities law as evidenced by a legal opinion of counsel to the transferor
to such effect, the substance of which shall be reasonably acceptable to the Company.”

 

(f)
Independent Investment Decision. Each Investor has independently evaluated the merits of its decision to purchase the Securities
pursuant to the Transaction Documents, is not relying on any oral statements from the Company’s officers or directors and
has received no warranties other than those set forth herein.

 

ARTICLE
3.

CONDITIONS
PRECEDENT TO CLOSING

 

3.1
Conditions Precedent to the Obligations of the Investors to Purchase the Securities. The obligation of each Investor to
acquire the Securities at the Closing is subject to the satisfaction or waiver by such Investor, at or before the Closing, of
each of the following conditions: (a) the representations and warranties of the Company contained herein shall be true and correct
in all material respects as of the date when made and as of the Closing as though made on and as of such date; (b) the Company
shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by
the Transaction Documents to be performed, satisfied or complied with by it at or prior to the Closing; (c) no statute, rule,
regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by any court
or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions contemplated by
the Transaction Documents; (d) since the date of execution of this Agreement, no event or series of events shall have occurred
that reasonably could have or result in a Material Adverse Effect with respect to the Company; and (e) the Company shall have
delivered the Company Deliverables in accordance with Section 1.2.

 

3.2 Conditions
Precedent to the Obligations of the Company to Sell the Securities. The obligation of the Company to sell the Securities
at the Closing is subject to the satisfaction or waiver by the Company, at or before the Closing, of each of the
following conditions: (a) the representations and warranties of each Investor contained herein shall be true and correct in
all material respects as of the date when made and as of the Closing Date as though made on and as of such date; (b) each
Investor shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions
required by the Transaction Documents to be performed, satisfied or complied with by such investor at or prior to the
Closing; (c) no statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered,
promulgated or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of
any of the transactions contemplated by the Transaction Documents; and (d) each Investor shall have delivered its Investor
Deliverables in accordance with Section 1.3.

 

    	 	7	 

     

    

 

ARTICLE
4.

MISCELLANEOUS

 

4.1
Use of Proceeds. The Company will use the net proceeds from the sale of the Securities hereunder to aid in the Company’s
expansion into China and for working capital purposes.

 

4.2
Entire Agreement. This Agreement and the schedules hereto, constitute the entire agreement among the parties hereto with
respect to the subject matter hereof.

 

4.3
Notices. Any notice permitted or required under this Agreement shall be deemed to have been given if the notice is in writing
and personally served, mailed by registered or certified mail (return receipt requested), mailed by courier with confirmed receipt
or sent by facsimile with confirmation, or by registered mail, to the parties at the following addresses:

 

	 	If to the Company:	Rebel Group, Inc.
	 	 	Attn: Mr. Justin Leong
	 	 	7500A Beach Road, #12-313,
	 	 	The Plaza, Singapore 199591
	 	 	Fax: 65 63387806
	 	 	Email: justinleong@rebelfc.com.sg
	 	 	kkleong@rebelfc.com.sg
	 	 	 
	 	If to an Investor:	To the address set forth under such Investor’s name on the
	 	 	signature pages hereof;

 

Each
party may change its address by giving similar notice. Notices given as provided herein shall be deemed effective as of the date
sent or facsimile transmission.

 

4.4
Amendments; Waivers. No provision of this Agreement may be waived or amended except in a writing signed by the Company
and the Investors holding a majority of the Securities. No such waiver will be deemed to be a waiver of any other or further obligation
or liability of the party or parties in whose favor the waiver was given.

 

4.5
Construction. This Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof
shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement or any of the Transaction
Documents.

 

4.5
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors
and permitted assigns. Neither party hereto may not assign this Agreement or any rights or obligations hereunder without the prior
written consent of the other party hereto.

 

4.7
No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors
and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

4.8
Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall
be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the
principles of conflicts of law thereof.

 

    	 	8	 

     

    

 

4.9
Survival. The representations, warranties, agreements and covenants contained herein shall survive the Closing and the
delivery of the Securities.

 

4.10
Execution. This Agreement may be executed in one or more counterparts each of which shall be deemed an original, but all
of which shall together constitute one and the same instrument.

 

4.11
Severability. Each provision of this Agreement shall be considered severable and, if for any reason any provision or provisions
hereof are determined to be invalid or contrary to applicable law, such invalidity or illegality shall not impair the operation
of or affect the remaining portions of this Agreement.

 

4.12
Replacement of Securities. If any certificate evidencing any Securities is mutilated, lost, stolen or destroyed, the Company
shall issue or cause to be issued in exchange a new certificate, but only upon receipt of evidence reasonably satisfactory to
the Company of such loss, theft, mutilation or destruction of the certificate and a customary indemnity, if requested. The applicants
for a new certificate under this Section are responsible for paying reasonable third-party costs associated with the issuance
of any replacement Securities.

 

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    	 	9	 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Subscription Agreement to be duly executed by their respective authorized
signatories as of date first written above.

 

	 	Rebel
    Group, Inc.
	 	 
	 	By: 	/s/ Leong Aan Yee Justin 
	 	Name:	 Mr. Leong Aan Yee Justin
	 	Title: 	President and CEO

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK SIGNATURE PAGES FOLLOW]

 

     

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Subscription Agreement to be duly executed by their respective authorized
signatories as the date set forth above.

 

	 	NAME
    OF INVESTOR
	 	 
	 	Signature:
    	/s/
    Sun Yu
	 	Name:
    	THE
    ANALYST CAPITAL PTE LTD
	 	Title:	Director
	 	 
	 	ID
    (or Passport) No.:
	 	 	
	 	 
	 	ADDRESS
    FOR NOTICE
	 	 
	 	Attention:	YU
    SUN, THE ANALYST CAPITAL PTE LTD
	 	Address:	
	 	 	
	 	 	
	 	Tel:	
	 	Fax:	
	 	Email: 	
	 	 
	 	DELIVERY
    INSTRUCTIONS 
	 	(if
    different from above)
	 	 
	 	Attention:	 
	 	Address:	 
	 	 
	 	Tel:	 
	 	Fax:	 
	 	Email:

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