Document:

Exhibit 4.38

 

SECURITIES
PURCHASE AGREEMENT

 

This
SECURITIES PURCHASE AGREEMENT (the “Agreement”), dated as of March 5, 2021 by and between Tauriga Sciences, Inc.,
a Florida corporation, with headquarters located at 4 Nancy Court, Suite 4, Wappingers Falls, NY 12590 (the “Company”), and
GS CAPITAL PARTNERS, LLC, a New York limited liability company, with its address at 30 Washington Street, Suite 5L, Brooklyn,
NY 11201 (the “Buyer”).

 

WHEREAS:

 

A.
The Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded
by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the “SEC”) under the
Securities Act of 1933, as amended (the “1933 Act”);

 

B.
Buyer desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement a 6% note
of the Company, in the form attached hereto as Exhibit A in the aggregate principal amount of $273,000.00 (together with any note(s)
issued in replacement thereof or as a dividend thereon or otherwise with respect thereto in accordance with the terms thereof, the “Note”).
The Note shall contain an original issue discount of $5,000 such that the purchase price of the Note shall be $268,000.00.

 

C.
The Buyer wishes to purchase, upon the terms and conditions stated in this Agreement, such principal amount of Note as is set forth immediately
below its name on the signature pages hereto; and

 

NOW
THEREFORE, the Company and the Buyer severally (and not jointly) hereby agree as follows:

 

1.
Purchase and Sale of Note.

 

a.
Purchase of Note. On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer agrees to
purchase from the Company such principal amount of Note as is set forth immediately below the Buyer’s name on the signature pages
hereto.

 

b.
Form of Payment. On the Closing Date (as defined below), (i) the Buyer shall pay the purchase price for the Note to be issued
and sold to it at the Closing (as defined below) (the “Purchase Price”) by wire transfer of immediately available funds to
the Company, in accordance with the Company’s written wiring instructions, against delivery of the Note in the principal amount
equal to the Purchase Price as is set forth immediately below the Buyer’s name on the signature pages hereto, and (ii) the Company
shall deliver such duly executed Note on behalf of the Company, to the Buyer, against delivery of such Purchase Price.

 

c.
Closing Date. The date and time of the first issuance and sale of the Note pursuant to this Agreement (the “Closing Date”)
shall be on or about March 5, 2021, or such other mutually agreed upon time. The closing of the transactions contemplated by this Agreement
(the “Closing”) shall occur on the Closing Date at such location as may be agreed to by the parties.

 

    	 

     

    

 

2.
Buyer’s Representations and Warranties. The Buyer represents and warrants to the Company that:

 

a.
Investment Purpose. As of the date hereof, the Buyer is purchasing the Note (“Securities”) for its own account and
not with a present view towards the public sale or distribution thereof, except pursuant to sales registered or exempted from registration
under the 1933 Act; provided, however, that by making the representations herein, the Buyer does not agree to hold any
of the Securities for any minimum or other specific term and reserves the right to dispose of the Securities at any time in accordance
with or pursuant to a registration statement or an exemption under the 1933 Act.

 

b.
Accredited Investor Status. The Buyer is an “accredited investor” as that term is defined in Rule 501(a) of Regulation
D (an “Accredited Investor”).

 

c.
Reliance on Exemptions. The Buyer understands that the Securities are being offered and sold to it in reliance upon specific exemptions
from the registration requirements of United States federal and state securities laws and that the Company is relying upon the truth
and accuracy of, and the Buyer’s compliance with, the representations, warranties, agreements, acknowledgments and understandings
of the Buyer set forth herein in order to determine the availability of such exemptions and the eligibility of the Buyer to acquire the
Securities.

 

d.
Information. The Buyer and its advisors, if any, have been, and for so long as the Note remain outstanding will continue to be,
furnished with all materials relating to the business, finances and operations of the Company and materials relating to the offer and
sale of the Securities which have been requested by the Buyer or its advisors. The Buyer and its advisors, if any, have been, and for
so long as the Note remain outstanding will continue to be, afforded the opportunity to ask questions of the Company. Notwithstanding
the foregoing, the Company has not disclosed to the Buyer any material nonpublic information and will not disclose such information unless
such information is disclosed to the public prior to or promptly following such disclosure to the Buyer. Neither such inquiries nor any
other due diligence investigation conducted by Buyer or any of its advisors or representatives shall modify, amend or affect Buyer’s
right to rely on the Company’s representations and warranties contained in Section 3 below. The Buyer understands that its investment
in the Securities involves a significant degree of risk. The Buyer is not aware of any facts that may constitute a breach of any of the
Company’s representations and warranties made herein.

 

e.
Governmental Review. The Buyer understands that no United States federal or state agency or any other government or governmental
agency has passed upon or made any recommendation or endorsement of the Securities.

 

    	2 

     

    

 

f.
Transfer or Re-sale. The Buyer understands that (i) the sale or re-sale of the Securities has not been and is not being registered
under the 1933 Act or any applicable state securities laws, and the Securities may not be transferred unless (a) the Securities are sold
pursuant to an effective registration statement under the 1933 Act, (b) the Buyer shall have delivered to the Company, at the cost of
the Buyer, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in comparable transactions
to the effect that the Securities to be sold or transferred may be sold or transferred pursuant to an exemption from such registration,
which opinion shall be accepted by the Company, (c) the Securities are sold or transferred to an “affiliate” (as defined
in Rule 144 promulgated under the 1933 Act (or a successor rule) (“Rule 144”)) of the Buyer who agrees to sell or otherwise
transfer the Securities only in accordance with this Section 2(f) and who is an Accredited Investor, (d) the Securities are sold pursuant
to Rule 144, or (e) the Securities are sold pursuant to Regulation S under the 1933 Act (or a successor rule) (“Regulation S”),
and the Buyer shall have delivered to the Company, at the cost of the Buyer, an opinion of counsel that shall be in form, substance and
scope customary for opinions of counsel in corporate transactions, which opinion shall be accepted by the Company; (ii) any sale of such
Securities made in reliance on Rule 144 may be made only in accordance with the terms of said Rule and further, if said Rule is not applicable,
any re-sale of such Securities under circumstances in which the seller (or the person through whom the sale is made) may be deemed to
be an underwriter (as that term is defined in the 1933 Act) may require compliance with some other exemption under the 1933 Act or the
rules and regulations of the SEC thereunder; and (iii) neither the Company nor any other person is under any obligation to register such
Securities under the 1933 Act or any state securities laws or to comply with the terms and conditions of any exemption thereunder (in
each case). Notwithstanding the foregoing or anything else contained herein to the contrary, the Securities may be pledged as collateral
in connection with a bona fide margin account or other lending arrangement.

 

g.
Legends. The Buyer understands that the Note may bear a restrictive legend in substantially the following form (and a stop-transfer
order may be placed against transfer of the certificates for such Securities):

 

“NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE 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 SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR
(II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A 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.”

 

    	3 

     

    

 

The
legend set forth above shall be removed and the Company shall issue a certificate without such legend to the holder of any Security upon
which it is stamped, if, unless otherwise required by applicable state securities laws, (a) such Security is registered for sale under
an effective registration statement filed under the 1933 Act or otherwise may be sold pursuant to Rule 144 or Regulation S without any
restriction as to the number of securities as of a particular date that can then be immediately sold, or (b) such holder provides the
Company with an opinion of counsel, in form, substance and scope customary for opinions of counsel in comparable transactions, to the
effect that a public sale or transfer of such Security may be made without registration under the 1933 Act, which opinion shall be accepted
by the Company so that the sale or transfer is affected. The Buyer agrees to sell all Securities, including those represented by a certificate(s)
from which the legend has been removed, in compliance with applicable prospectus delivery requirements, if any. In the event that the
Company does not accept the opinion of counsel provided by the Buyer with respect to the transfer of Securities pursuant to an exemption
from registration, such as Rule 144 or Regulation S, within 2 business days, it will be considered an Event of Default under the Note.

 

h.
Authorization; Enforcement. This Agreement has been duly and validly authorized. This Agreement has been duly executed and delivered
on behalf of the Buyer, and this Agreement constitutes a valid and binding agreement of the Buyer enforceable in accordance with its
terms.

 

i.
Residency. The Buyer is a resident of the jurisdiction set forth immediately below the Buyer’s name on the signature pages
hereto.

 

j.
[RESERVED].

 

3.
Representations and Warranties of the Company. The Company represents and warrants to the Buyer that:

 

a.
Organization and Qualification. The Company and each of its subsidiaries, if any, is a corporation duly organized, validly existing
and in good standing under the laws of the jurisdiction in which it is incorporated, with full power and authority (corporate and other)
to own, lease, use and operate its properties and to carry on its business as and where now owned, leased, used, operated and conducted.

 

b.
Authorization; Enforcement. (i) The Company has all requisite corporate power and authority to enter into and perform this Agreement,
the Note and to consummate the transactions contemplated hereby and thereby and to issue the Securities, in accordance with the terms
hereof and thereof, (ii) the execution and delivery of this Agreement, the Note by the Company and the consummation by it of the transactions
contemplated hereby and thereby (including without limitation, the issuance of the Note has been duly authorized by the Company’s
Board of Directors and no further consent or authorization of the Company, its Board of Directors, or its shareholders is required, (iii)
this Agreement has been duly executed and delivered by the Company by its authorized representative, and such authorized representative
is the true and official representative with authority to sign this Agreement and the other documents executed in connection herewith
and bind the Company accordingly, and (iv) this Agreement constitutes, and upon execution and delivery by the Company of the Note, each
of such instruments will constitute, a legal, valid and binding obligation of the Company enforceable against the Company in accordance
with its terms.

 

    	4 

     

    

 

c.
[RESERVED].

 

d.
[RESERVED].

 

e.
No Conflicts. The execution, delivery and performance of this Agreement, the Note by the Company and the consummation by the Company
of the transactions contemplated hereby and thereby will not (i) conflict with or result in a violation of any provision of the Certificate
of Incorporation or By-laws, or (ii) violate or conflict with, or result in a breach of any provision of, or constitute a default (or
an event which with notice or lapse of time or both could become a default) under, or give to others any rights of termination, amendment,
acceleration or cancellation of, any agreement, indenture, patent, patent license or instrument to which the Company or any of its subsidiaries
is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities
laws and regulations and regulations of any self-regulatory organizations to which the Company or its securities are subject) applicable
to the Company or any of its subsidiaries or by which any property or asset of the Company or any of its subsidiaries is bound or affected
(except for such conflicts, defaults, terminations, amendments, accelerations, cancellations and violations as would not, individually
or in the aggregate, have a material adverse effect). All consents, authorizations, orders, filings and registrations which the Company
is required to obtain pursuant to the preceding sentence have been obtained or effected on or prior to the date hereof. The Company is
not in violation of the listing requirements of the OTC Marketplace (the “OTC Markets”) and does not reasonably anticipate
that the Common Stock will be delisted by the OTC MARKETS in the foreseeable future, nor are the Company’s securities “chilled”
by FINRA. The Company and its subsidiaries are unaware of any facts or circumstances which might give rise to any of the foregoing.

 

f.
Absence of Litigation. Except as disclosed in the Company’s public filings, there is no action, suit, claim, proceeding,
inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to
the knowledge of the Company or any of its subsidiaries, threatened against or affecting the Company or any of its subsidiaries, or their
officers or directors in their capacity as such, that could have a material adverse effect. Schedule 3(f) contains a complete list and
summary description of any pending or, to the knowledge of the Company, threatened proceeding against or affecting the Company or any
of its subsidiaries, without regard to whether it would have a material adverse effect. The Company and its subsidiaries are unaware
of any facts or circumstances which might give rise to any of the foregoing.

 

g.
Acknowledgment Regarding Buyer’ Purchase of Securities. The Company acknowledges and agrees that the Buyer is acting solely
in the capacity of arm’s length purchasers with respect to this Agreement and the transactions contemplated hereby. The Company
further acknowledges that the Buyer is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with
respect to this Agreement and the transactions contemplated hereby and any statement made by the Buyer or any of its respective representatives
or agents in connection with this Agreement and the transactions contemplated hereby is not advice or a recommendation and is merely
incidental to the Buyer’ purchase of the Securities. The Company further represents to the Buyer that the Company’s decision
to enter into this Agreement has been based solely on the independent evaluation of the Company and its representatives.

 

    	5 

     

    

 

h.
No Integrated Offering. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has directly
or indirectly made any offers or sales in any security or solicited any offers to buy any security under circumstances that would require
registration under the 1933 Act of the issuance of the Securities to the Buyer. The issuance of the Securities to the Buyer will not
be integrated with any other issuance of the Company’s securities (past, current or future) for purposes of any shareholder approval
provisions applicable to the Company or its securities.

 

i.
Title to Property. The Company and its subsidiaries have good and marketable title in fee simple to all real property and good
and marketable title to all personal property owned by them which is material to the business of the Company and its subsidiaries, in
each case free and clear of all liens, encumbrances and defects except such as are described in Schedule 3(i) or such as would not have
a material adverse effect. Any real property and facilities held under lease by the Company and its subsidiaries are held by them under
valid, subsisting and enforceable leases with such exceptions as would not have a material adverse effect.

 

j.
Bad Actor. No officer or director of the Company would be disqualified under Rule 506(d) of the Securities Act as amended on the
basis of being a “bad actor” as that term is established in the September 19, 2013 Small Entity Compliance Guide published
by the Securities and Exchange Commission.

 

k.
Breach of Representations and Warranties by the Company. If the Company breaches any of the representations or warranties set
forth in this Section 3, and in addition to any other remedies available to the Buyer pursuant to this Agreement, it will be considered
an Event of default under the Note.

 

4.
COVENANTS.

 

a.
Expenses. At the Closing, the Company shall reimburse Buyer for expenses incurred by them in connection with the negotiation,
preparation, execution, delivery and performance of this Agreement and the other agreements to be executed in connection herewith (“Documents”),
including, without limitation, reasonable attorneys’ and consultants’ fees and expenses, transfer agent fees, fees for stock
quotation services, fees relating to any amendments or modifications of the Documents or any consents or waivers of provisions in the
Documents, fees for the preparation of opinions of counsel, escrow fees, and costs of restructuring the transactions contemplated by
the Documents. When possible, the Company must pay these fees directly, otherwise the Company must make immediate payment for reimbursement
to the Buyer for all fees and expenses immediately upon written notice by the Buyer or the submission of an invoice by the Buyer.

 

    	6 

     

    

 

b.
Listing. The Company will obtain and, so long as the Buyer owns any of the Securities, maintain the listing and trading of its
Common Stock on the OTC MARKETS or any equivalent replacement exchange, the Nasdaq National Market (“Nasdaq”), the Nasdaq
SmallCap Market (“Nasdaq SmallCap”) or the New York Stock Exchange (“NYSE”), and will comply in all respects
with the Company’s reporting, filing and other obligations under the bylaws or rules of the Financial Industry Regulatory Authority
(“FINRA”) and such exchanges, as applicable. The Company shall promptly provide to the Buyer copies of any notices it receives
from the OTC MARKETS and any other exchanges or quotation systems on which the Common Stock is then listed regarding the continued eligibility
of the Common Stock for listing on such exchanges and quotation systems.

 

c.
Corporate Existence. So long as the Buyer beneficially owns any Note, the Company shall maintain its corporate existence and shall
not sell all or substantially all of the Company’s assets, except in the event of a merger or consolidation or sale of all or substantially
all of the Company’s assets, where the surviving or successor entity in such transaction (i) assumes the Company’s obligations
hereunder and under the agreements and instruments entered into in connection herewith and (ii) is a publicly traded corporation whose
Common Stock is listed for trading on the OTC MARKETS, Nasdaq, Nasdaq SmallCap or NYSE.

 

d.
No Integration. The Company shall not make any offers or sales of any security (other than the Securities) under circumstances
that would require registration of the Securities being offered or sold hereunder under the 1933 Act or cause the offering of the Securities
to be integrated with any other offering of securities by the Company for the purpose of any stockholder approval provision applicable
to the Company or its securities.

 

e.
Filings. The Company shall include the Note in its next scheduled SEC filing whether that shall be a 10Q or a10K.

 

f.
Commitment Shares. Upon the funding of Note, the Company shall issue 1,250,000 restricted shares of Common Stock to the Buyer
as additional consideration for the purchase of the Note. The shares shall be held in book entry format.

 

g.
Breach of Covenants. If the Company breaches any of the covenants set forth in this Section 4, and in addition to any other remedies
available to the Buyer pursuant to this Agreement, it will be considered an event of default under the Note.

 

    	7 

     

    

 

5.
Governing Law; Miscellaneous.

 

a.
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York without
regard to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated
by this Agreement shall be brought only in the state courts of New York or in the federal courts located in the state and county of New
York. The parties to this Agreement hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder
and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. The Company and Buyer
waive trial by jury. The prevailing party shall be entitled to recover from the other party its reasonable attorney’s fees and
costs. In the event that any provision of this Agreement or any other agreement delivered in connection herewith is invalid or unenforceable
under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith
and shall be deemed modified to conform with such statute or rule of law. Any such provision which may prove invalid or unenforceable
under any law shall not affect the validity or enforceability of any other provision of any agreement. Each party hereby irrevocably
waives personal service of process and consents to process being served in any suit, action or proceeding in connection with this Agreement
or any other Transaction Document by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of
delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute
good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to
serve process in any other manner permitted by law.

 

b.
Counterparts; Signatures by Facsimile. This Agreement may be executed in one or more counterparts, each of which shall be deemed
an original but all of which shall constitute one and the same agreement and shall become effective when counterparts have been signed
by each party and delivered to the other party. This Agreement, once executed by a party, may be delivered to the other party hereto
by facsimile transmission of a copy of this Agreement bearing the signature of the party so delivering this Agreement.

 

c.
Headings. The headings of this Agreement are for convenience of reference only and shall not form part of, or affect the interpretation
of, this Agreement.

 

d.
Severability. In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute or rule
of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to
conform with such statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any law shall not affect
the validity or enforceability of any other provision hereof.

 

e.
Entire Agreement; Amendments. This Agreement and the instruments referenced herein contain the entire understanding of the parties
with respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither the Company nor
the Buyer makes any representation, warranty, covenant or undertaking with respect to such matters. No provision of this Agreement may
be waived or amended other than by an instrument in writing signed by the majority in interest of the Buyer.

 

    	8 

     

    

 

f.
Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be
in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified,
return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, (iv) via electronic
mail or (v) transmitted by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such party
shall have specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall
be deemed effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting facsimile
machine, at the address or number designated below (if delivered on a business day during normal business hours where such notice is
to be received) or delivery via electronic mail, or the first business day following such delivery (if delivered other than on a business
day during normal business hours where such notice is to be received) or (b) on the second business day following the date of mailing
by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur.
The addresses for such communications shall be:

 

If
to the Company, to:

Tauriga
Sciences, Inc.

4
Nancy Court, Suite 4

Wappingers
Falls, NY 12590

Attn:
Seth M. Shaw

 

If
to the Buyer:

GS
CAPITAL PARTNERS, LLC

30
Washington Street

Suite
5L,

Brooklyn,
NY 11201

Attn:
Gabe Sayegh

 

Each
party shall provide notice to the other party of any change in address.

 

g.
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and
assigns. Neither the Company nor the Buyer shall assign this Agreement or any rights or obligations hereunder without the prior written
consent of the other. Notwithstanding the foregoing, the Buyer may assign its rights hereunder to any person that purchases Securities
in a private transaction from the Buyer or to any of its “affiliates,” as that term is defined under the 1934 Act, without
the consent of the Company.

 

h.
Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted successors
and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

i.
Survival. The representations and warranties of the Company and the agreements and covenants set forth in this Agreement shall
survive the closing hereunder notwithstanding any due diligence investigation conducted by or on behalf of the Buyer. The Company agrees
to indemnify and hold harmless the Buyer and all their officers, directors, employees and agents for loss or damage arising as a result
of or related to any breach or alleged breach by the Company of any of its representations, warranties and covenants set forth in this
Agreement or any of its covenants and obligations under this Agreement, including advancement of expenses as they are incurred.

 

    	9 

     

    

 

j.
Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and
shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated
hereby.

 

k.
No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party.

 

l.
Remedies. The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Buyer by
vitiating the intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the remedy at law
for a breach of its obligations under this Agreement will be inadequate and agrees, in the event of a breach or threatened breach by
the Company of the provisions of this Agreement, that the Buyer shall be entitled, in addition to all other available remedies at law
or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing or curing any
breach of this Agreement and to enforce specifically the terms and provisions hereof, without the necessity of showing economic loss
and without any bond or other security being required.

 

    	10 

     

    

 

IN
WITNESS WHEREOF, the undersigned Buyer and the Company have caused this Agreement to be duly executed as of the date first above written.

 

Tauriga
Sciences, Inc.

 

	By:	 	 
	Name:	Seth
    M. Shaw	 
	Title:	CEO	 

 

GS
CAPITAL PARTNERS, LLC.

 

	By:
    	 	 
	Name:	Gabe
    Sayegh	 
	Title:	Manager	 

 

AGGREGATE
SUBSCRIPTION AMOUNT:

 

Aggregate
Principal Amount of Note: $273,000.00

 

Aggregate
Purchase Price:

 

Note:
$273,000.00 less $5,000.00 in original issue discount, less $3,000.00 in legal fees.

 

    	11 

     

    

 

EXHIBIT
A

NOTE-
$273,000.00

 

    	12Exhibit
10.23

 

SUBSCRIPTION
AGREEMENT

 

WARRANTS

 

VistaGen
Therapeutics, Inc., a Nevada corporation (the “Company”)

 

Purchase
of Warrants of the Company

 

	Instructions:	Complete
                                            and sign this Subscription Agreement. Please be sure to initial the appropriate “Accredited
                                            Investor” category in Box C.

                                                                                                                                                                                                               

    A
    completed and originally executed copy of, and the other documents required to be delivered with, this Subscription Agreement, must
    be delivered to the following address:

     

    Jerrold
    Dotson

    Chief
    Financial Officer

    VistaGen
    Therapeutics, Inc.

    343
    Allerton Avenue

    South
    San Francisco, CA 94080

    (650)
    577-3600 

    jdotson@vistagen.com

 

1.
Subscription. The undersigned (the “Subscriber”) hereby irrevocably subscribes for and agrees to purchase from the
Company the number of Warrants of the Company (“Warrants”) at the price and for the aggregate consideration set forth in
Box A of Section 7 below (the “Subscription Price’). Each Warrant will entitle Subscriber to purchase one unregistered share
of the Company’s Common Stock, par value $0.001 per share (“Common Stock”) (the “Warrant Shares”) at a
price of $0.50 per share, which shall be greater than the closing quoted market price per share of the Company’s Common Stock on
the Nasdaq Capital Market on the effective date (defined below) of each Subscriber’s Subscription Agreement, (each warrant to purchase
shares of Common Stock, a “ Warrant”). The Warrants shall be immediately exercisable and will expire three years following
the effective date (defined below). The Subscription Price for each Warrant shall be $0.15. The effective date of this Subscription Agreement
shall be defined as the date on which the Company receives Subscriber’s investment funds by wire transfer or check (the “Effective
Date”).

 

2.
The Subscriber acknowledges that this Subscription Agreement is subject to acceptance by the Company. The Company may also accept this
Subscription Agreement in part. The Company and Subscriber agree that if this Subscription Agreement is not accepted in full, any funds
related to the portion of this Subscription Agreement not accepted will be promptly returned to the Subscriber, without interest,

 

3.
Subscriber Representations. Warranties and Agreements. By executing this Subscription Agreement, the Subscriber represents, warrants
and covenants (on its own behalf and, if applicable, on behalf of each beneficial purchaser for whom it is contracting hereunder) to
the Company (and acknowledges that the Company is relying thereon) that:

 

(a)
it is authorized to consummate the purchase of the Warrants;

 

(b)
it understands that the Warrants and the Warrant Shares (collectively, the “Securities”) have not been and will not be registered
under the Securities Act of 1933 (the “Securities Act”), or any applicable state securities laws, and that the offer and
sale of the Warrants to it is being made in reliance on a private placement exemption available under Section 4(a)(2) of the Securities
Act and Rule 506 of Regulation D under the Securities Act (“Regulation D”) to accredited investors (“Accredited Investors”),
as defined in Rule 501 (a) of Regulation D;

 

    	1

     

    

 

(c)
it has reviewed copies of any documents considered by it to be important in making an investment decision whether to purchase the Warrants.
In addition, it has had access to such additional information, if any, concerning the Company as it has considered necessary in connection
with its investment decision to acquire the Warrants, and it acknowledges that it has been offered the opportunity to ask questions and
receive answers from management of the Company concerning the terms and conditions of the offering of the Warrants, and to obtain any
additional information which the Company possesses or can acquire without unreasonable effort or expense that is necessary to verify
the accuracy of the information contained in any documents provided to it;

 

(d)
it has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of its investment
in the Warrants and is able to bear the economic risks of, and withstand the complete loss of, such investment;

 

(e)
it is an Accredited Investor acquiring the Warrants for its own account or, if the Warrants are to be purchased for one or more accounts
(“Investor Accounts”) with respect to whom it is exercising sole investment discretion, each such investor account is an
Accredited Investor on a like basis. In each case, the undersigned has completed the Accredited Investor Status questionnaire attached
hereto to indicate under which category of Rule 501 (a) the investor qualifies as an Accredited Investor;

 

(0
it is not acquiring the Warrants with a view to any resale, distribution or other disposition of the Warrants in violation of federal
or applicable state securities laws, and, in particular, it has no intention to distribute either directly or indirectly any of the Warrants
in the U.S. or to U.S. persons; provided, however, that the holder may sell or otherwise dispose of any of the Warrants pursuant to registration
thereof under the Securities Act and any applicable state securities laws or pursuant to an exemption from such registration requirements;

 

g)
in the case of the purchase by the Subscriber of the Warrants as agent or trustee for any other person, the Subscriber has due and proper
authority to act as agent or trustee for and on behalf of such beneficial purchaser in connection with the transactions contemplated
hereby;

 

(h)
it is not purchasing the Warrants as a result of any general solicitation or general advertising (as those terms are used in Regulation
D under the Securities Act), including advertisements, articles, notices or other communications published in any newspaper, magazine
or similar media or broadcast over radio or television, or any seminar or meeting whose attendees have been invited by general solicitation
or general advertising;

 

i)
neither the Subscriber nor, to the extent it has them, any of its shareholders, members, managers, general or limited partners, directors,
affiliates or executive officers (collectively with the Subscriber, the “Covered Persons”), are subject to any of the “Bad
Actor” disqualifications described in Rule 506(d)(l)(i) to (viii) under the Securities Act (a “Disqualification Event”),
except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3). The Subscriber has exercised reasonable care to determine whether
any Covered Person is subject to a Disqualification Event. The purchase of the Warrants by the Subscriber will not subject the Company
to any Disqualification Event;

 

(j)
it understands that the Securities are “restricted securities” as defined in Rule 144(a)(3) under the Securities Act and
agrees that if it decides to offer, sell or otherwise transfer the Securities, such Securities may be offered, sold or otherwise transferred
only (A) to the Company, (B) outside the U.S. in accordance with Rule 904 of Regulation S under the Securities Act, (C) within the U.S.
or to or for the account or benefit of a U.S, Person in accordance with an exemption from the registration requirements of the Securities
Act and all applicable state securities laws, (D) in a transaction that does not require registration under the Securities Act or any
applicable U.S. state securities laws or (E) pursuant to an effective registration statement under the Securities Act, and in each case
in accordance with any applicable state securities laws in the U.S. or securities laws of any other applicable jurisdiction; provided
that with respect to sales or transfers under clauses (C) or (D), only if the holder has furnished to the Company a written opinion of
counsel, reasonably satisfactory to the Company, prior to such sale or transfer;

 

    	2

     

    

 

(k)
it has been independently advised as to the applicable holding period and resale restrictions with respect to trading imposed in respect
of the Securities, by securities legislation in the jurisdiction in which it resides or to which it is otherwise subject, and confirms
that no representation has been made respecting the applicable holding periods for the Securities and is aware of the risks and other
characteristics of the Securities and of the fact that the undersigned may not be able to resell the Securities except in accordance
with applicable securities legislation and regulations;

 

1no
person has made to the Subscriber any written or oral representations:

 

that
any person will resell or repurchase any of the Securities;

 

(ii)
that any person will refund the purchase price of the Securities; or

 

(iii)
as to the future price or value of any of the Securities;

 

(m)
it understands and acknowledges that, upon exercise of the Warrants in accordance with the terms therein, the Company may issue certificates
representing the Warrant Shares, which certificates shall bear the following legend or another legend of substantially similar substance:

 

“THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT’),
OR UNDER ANY STATE SECURITIES LAWS. THE HOLDER HEREOF, BY PURCHASING THESE SECURITIES, AGREES FOR THE BENEFIT OF THE COMPANY, THAT THESE
SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A) TO THE COMPANY, (B) OUTSIDE THE U.S. IN ACCORDANCE WITH REGULATION
S UNDER THE SECURITIES ACT, (C) IN COMPLIANCE WITH AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE
WITH APPLICABLE STATE SECURITIES LAWS, (D) IN ANOTHER TRANSACTION THAT DOES NOT REQUIRE REGISTRATION UNDER THE SECURITIES ACT OR ANY
APPLICABLE STATE SECURITIES LAWS, OR (E) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, AND, IN THE CASE OF
(C) AND (D), THE SELLER FURNISHES TO THE COMPANY A WRITTEN OPINION OF

 

COUNSEL
OF RECOGNIZED STANDING IN FORM AND SUBSTANCE SATISFACTORY TO THE COMPANY TO SUCH EFFECT.”

 

(n)
it consents to the Company making a notation on its records or giving instructions to any transfer agent of the Shares in order to implement
the restrictions on transfer set forth and described herein.

 

(o)
the office or other address of the undersigned at which the undersigned received and accepted the offer to purchase the Warrants is the
address listed in Box B of Section 6 below.

 

(p)
if required by applicable securities laws, regulations, rule or order or by any securities commission, stock exchange or other regulatory
authority, it will execute, deliver and file, within the approved time periods, all documentation as may be required thereunder, and
otherwise assist the Company in filing reports, questionnaires, undertakings and other documents with respect to the issuance of the
Warrants.

 

    	3

     

    

 

(q)
this subscription agreement has been duly and validly authorized, executed and delivered by and constitutes a legal, valid, binding and
enforceable obligation of the Subscriber; and

 

(r)
it is not an affiliate (as defined in Rule 144 under the Securities Act) of the Company and is not acting on behalf of an affiliate of
the Company.

 

4
Representations. Warranties and Covenants of the Company. As a material inducement of Subscriber to enter into this Subscription
Agreement and subscribe for the Warrants, the Company represents and warrants to Subscriber, as of the date hereof, as follows:

 

(a)
Organization and Standing. The Company is a corporation duly organized, validly existing and in good standing under the laws of
the State of Nevada, has full power to carry on its business as and where such business is now being conducted and to own, lease and
operate the properties and assets now owned or operated by it, and is duly qualified to do business and is in good standing in each jurisdiction
where the conduct of its business or the ownership of its properties requires such qualification, except where the failure to be so qualified
would not have a Material Adverse Effect on the Company. “Material Adverse Effect” means any circumstance, change in, or
effect on the Company that, individually or in the aggregate with any other similar circumstances, changes in, or effects on, the Company
taken as a whole: (i) is, or is reasonably expected to be, materially adverse to the business, operations, assets, liabilities, employee
relationships, customer or supplier relationships, prospects, results of operations or the condition (financial or otherwise) of the
Company taken as a whole, or (ii) is reasonably expected to adversely affect the ability of the Company to operate or conduct the Company’s
business in the manner in which it is currently operated or conducted or proposed to be operated or conducted by the Company; provided,
however, that none of the following shall be deemed in and of themselves, either alone or in combination, to constitute, and none of
the following shall be taken into account in determining whether there has been or will be, a Material Adverse Effect: (A) any change,
event, state of facts or development generally affecting the general political, economic or business conditions of the United States,
(B) any change, event, state of facts or development generally affecting the industry in which the Company operates, (C) any change,
event, state of facts or development arising from or relating to compliance with the terms of this Subscription Agreement, (D) acts of
war (whether or not declared), the commencement, continuation or escalation of a war, acts of armed hostility, sabotage or terrorism
or other international or national calamity or any material worsening of such conditions, (E) changes in laws or generally accepted accounting
principles (“GAAP”) after date hereof or in interpretations thereof, or (F) any matter disclosed in this Subscription Agreement
(including the schedules hereto).

 

(b)
Authority. The Board of Directors of the Company has duly authorized the execution, delivery and performance of this Subscription
Agreement by the Company, and the consummation of the transactions contemplated hereby. This Subscription Agreement has been (or upon
delivery will be) duly executed by the Company when delivered in accordance with the terms hereof, and will constitute, assuming due
authorization and execution and delivery by each of the parties thereto, a valid and binding obligation of the Company enforceable against
the Company in accordance with its terms. The Securities, when issued, will be validly issued, fully-paid and non-assessable.

 

(c)
No Conflicts. The execution and delivery of the Agreement and Securities and the consummation of the transactions contemplated
by this Agreement and the Securities, will not (i) conflict with or result in a breach of Or a default under any of the terms or provisions
of, (A) the Company’s certificate of incorporation or by-laws, or (B) of any material provision of any indenture, mortgage, deed
of trust or other material agreement or instrument to which the Company is a party or by which it or any of its material properties or
assets is bound, (ii) result in a violation of any provision of any law, statute, rule, regulation, or any existing applicable decree,
judgment or order by any court, federal or state regulatory body, administrative agency, or other governmental body having jurisdiction
over the Company, or any of its material properties or assets or (iii) result in the creation or imposition of any material lien, charge
or encumbrance upon any material property or assets of the Company or any of its subsidiaries pursuant to the terms of any agreement
or instrument to which any of them is a party or by which any of them may be bound or to which any of their property or any of them is
subject except in the case of clauses (i)(B), (ii) or (iii) for any such conflicts, breaches, or defaults or any liens, charges, or encumbrances
which would not have a Material Adverse Effect.

 

    	4

     

    

 

(d)
No Solicitation. The Company represents that it has not paid, and shall not pay, any commissions or other remuneration, directly
or indirectly, to any third party for the sale of the Securities. There are no brokers or other fees due with respect to the sale of
the Securities.

 

(e)
Material Disclosure. No representation, warranty or statement contained in this Section 3 or any disclosure furnished by the Company
pursuant to this Agreement or pursuant to its filings with the Securities and Exchange Commission contains or will contain at closing
hereunder any untrue statement of material fact or omits or will omit at such closing to state a material fact necessary to make the
statements therein, in light of the circumstances under which they were made, not misleading.

 

5.
Conditions to Closing.

 

(a)
The Company’s obligation to issue and sell the Warrants to Subscribers is subject to the fulfillment (or waiver by the Company)
of the following conditions:

 

(i)
Representations and Warranties. The representations and warranties made by Subscribers in this Subscription Agreement shall be
true and correct in all material respects when made, and shall be true and correct in all material respects upon issuance of the Warrants;

 

(ii)
Accredited Investor Questionnaire. All Subscribers shall have completed and delivered to the Company the Accredited Investor section
of the Subscriber’s signature page attached hereto; and

 

(iii)
Approval of Subscribers. The Company, in its reasonable discretion, shall have approved the participation and amount of participation
of any Subscribers who are either individuals that are non-United States citizens or are entities domiciled in any jurisdiction other
than the United States.

 

(b)
Each Subscriber’s obligation to purchase the Warrants is subject to the fulfillment (or waiver by such Subscriber) of the following
conditions:

 

(i)
Representations and Warranties. The representations and warranties made by the Company in this Subscription Agreement shall be
true and correct when made, and shall be true and correct in all material respects upon issuance of the Warrants; and

 

(ii)
Compliance with Securities Laws. The Company shall have obtained all permits and qualifications required under federal and/or
state law and/or foreign law for the offer and sale of the Warrants or shall have the availability of exemptions therefrom. Upon sale
of the Warrants, the Company shall file a Form D with the United States Securities and Exchange Commission in a timely manner as well
as any “blue sky” filings required by the states in which Subscribers are located.

 

6.
Legends. Subscriber understands and agrees that the Company will cause any necessary restrictive legends to be placed upon any
instruments(s) evidencing ownership of the Warrants, together with any Other legend that may be required by federal or state securities
laws or deemed necessary or desirable by the Company.

 

    	5

     

    

 

7.
General Provisions.

 

(a)
Confidentiality. Subscriber covenants and agrees that it will keep confidential and will not disclose or divulge any confidential
or proprietary information that such Subscriber may obtain from the Company pursuant to financial statements, reports, and other materials
submitted by the Company to such Subscriber in connection with this Subscription Agreement, or as a result of discussions with or inquiry
made to the Company, unless such information is known, or until such information becomes known, to the public through no action by Subscriber;
provided, however, that a Subscriber may disclose such information to its attorneys, accountants, consultants, assignees or transferees
and other professionals to the extent necessary in connection with his or her investment in the Company so long as any such professional
to whom such information is disclosed is made aware of Subscriber’s obligations hereunder and such professional agrees to be likewise
bound as though such professional were a party hereto.

 

(b)
Successors. The covenants, representations and warranties contained in this Subscription Agreement shall be binding on Subscriber’s
and the Company’s heirs and legal representatives and shall inure to the benefit of the respective successors and assigns of the
Company. The rights and obligations of this Subscription Agreement may not be assigned by any party without the prior written consent
of the other party.

 

(c)
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original agreement, but all of
which together shall constitute one and the same instrument.

 

(d)
Execution by Facsimile. Execution and delivery of this Agreement by facsimile transmission (including the delivery of documents
in Adobe PDF format) shall constitute execution and delivery of this Agreement for all purposes, with the same force and effect as execution
and delivery of an original manually signed copy hereof.

 

(e)
Governing Law and Jurisdiction. This Subscription Agreement shall be governed by and construed in accordance with the laws of
the State of Nevada applicable to contracts to be wholly performed within such state and without regard to conflicts of law provisions.
THE PARTIES HERETO EACH HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS SITTING
IN THE CITY OF SOUTH SAN FRANCISCO, COUNTY OF SAN MATEO. THE PARTIES HERETO EACH AGREE THAT ALL ACTIONS OR PROCEEDINGS ARISING OUT OF
OR RELATING TO THIS SUBSCRIPTION AGREEMENT AND/OR THE OFFERING DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED THEREBY MUST BE LITIGATED EXCLUSIVELY
IN ANY SUCH STATE OR FEDERAL COURT THAT SITS IN THE CITY OF SOUTH SAN FRANCISCO, COUNTY OF SAN

 

MATEO,
AND ACCORDINGLY, THE PARTIES EACH IRREVOCABLY WAIVE ANY OBJECTION

 

WHICH
IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH LITIGATION IN ANY SUCH COURT. Each of Subscriber and Company hereby
irrevocably waive and agree not to assert, by way of motion, as a defense, or otherwise, in every suit, action or other proceeding arising
out of or based on this Subscription Agreement and brought in any such court, any claim that Subscriber or the Company is not subject
personally to the jurisdiction of the above named courts, that Subscriber’s or the Company’s property, as applicable, is
exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum or that the venue
of the suit, action or proceeding is improper.

 

    	6

     

    

 

(0
Notices. All notices, requests, demands, claims and other communications hereunder shall be in writing and shall be delivered
by certified or registered mail (first class postage pre-paid), guaranteed overnight delivery, or facsimile transmission if such transmission
is confirmed by delivery by certified or registered mail (first class postage pre-paid) or guaranteed overnight delivery, •to the
following addresses and facsimile numbers (or to such other addresses or facsimile numbers which such party shall subsequently
designate in writing to the other party):

 

(i)
if to the Company, to the address first set forth above.

 

(ii)
if to Subscriber to the address set forth next to its name on the signature page hereto.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

 

    	7

     

    

 

8.
SUBSCRIPTION PARTICULARS

 

INFORMATION
IN RESPONSE TO THIS SECTION WILL BE KEPT STRICTLY CONFIDENTIAL

 

BOX
A

 

Particulars
of Purchase of Warrants

 

	Number
    of Warrants subscribed for:	250,000
	 	 
	 	 
	Subscription
    Price ($0.15 X number of Warrants)	$37,500
	 	 

 

BOX
B

 

Subscriber
Information For individual subscribers this address should be Subscriber’s primary legal residence. For entities other than
individual subscribers, please provide address information for the entity’s primary place of business. Information regarding a
joint subscriber should also be included.

 

	Name	________________________________
    Tauriga Sciences Inc.
	 	 
	Street
    Address	________________________________
    555 Madison Avenue
	 	 
	Street
    Address (2)	________________________________
    5th Floor
	 	 
	City
    and State	________________________________
    New York, NY
	 	 
	Zip
    Code	________________________________
    10022
	 	 
	Contact
    Name Seth M. Shaw (CEO)	____________________________________________
	 	 
	Alternate
    Contact	Kevin
    P. Lacey (CFO)
	 	________________________________
	 	 
	Phone
    No.	(917)
    796-9926
	 	________________________________
     
	 	 
	Fax
    No. / E-mail Address	sshaw@tauriga.com
	 	________________________________
	 	 
	Tax
    ID # or Social Security #	________________________________
    30-0791746

 

    	8

     

    

 

BOX
C

 

Accredited
Investor Status

 

The
Subscriber represents and warrants that it is an “accredited investor”, as defined in Rule 501(a) under the Securities Act,
by virtue of satisfying one or more of the categories indicated below (please write your initials on the line next to each applicable
category):

 

	[  ]	Category
    1.	A
    bank, as defined in section 3(a)(2) of the Securities Act.
	 	 	 
	 	 	 
	 	 	A
    savings and loan association or other institution, as defined in section 3(a)(5)(A) of the Securities Act, whether acting in its
    individual or fiduciary capacity.
	 	 	 
	 	 	A
    broker or dealer registered pursuant to section 15 of the Securities Exchange Act of 1934.
	 	 	 
	 	 	An
    insurance company as defined in section 2(a)(13) of the Securities Act.
	 	 	 
	 	 	An
    investment company registered under the Investment Corporation Act of 1940 or a business development company as defined in section
    2(a)(48) of that Act.
	 	 	 
	 	 	A
    Small Business Investment Corporation licensed by the U.S. Small Business Administration under section 301 (c) or (d) of the Small
    Business Investment Act of 1958.
	 	 	 
	 	 	A
    plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political
    subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,0
	 	 	 
	 	 	An
    employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 if the investment decision is made
    by a plan fiduciary, as defined in section 3(21) of such Act, which is either a bank, savings and loan association, insurance company,
    or registered investment adviser, or if the employee benefit plan has total assets in excess of $5,000,000 or, if a self-directed
    plan, with investment decisions made solely by persons that are accredited investors.
	 	 	 
	[  ]	Category
    2.	Any
                                            private business development company as defined in section 202(a)(22) of the Investment Advisers
                                            Act of 1940.

     

	 	 	An
    organization described in Section 501 of the Internal Revenue Code, a corporation, a Massachusetts or similar business trust, or
    a partnership, not formed for the specific purpose of acquiring the Securities, with total assets in excess of $5,000,000.
	 	 	 
	[  ]	Category
    3.	A
    director or executive officer of the Company.
	 	 	 
	[  ]	Category
    4.	A
    natural person whose individual net worth, or joint net worth with that person’s spouse, at the time of this purchase exceeds
    $1 ,000,000, excluding the value of the person’s primary residence, if any.
	 	 	 
	[  ]

     

    [  ]
	Category
                                            5.

                                                          

    Category
    6.
	A
    natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that
    person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level
    in the current year.
	 	 	 
	[  ]	Category
    7.	A
    trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Securities, whose purchase
    is directed by a sophisticated person as described in Rule 506(b)(2)(ii) of Regulation D under the U.S. Securities Act.
	 	 	 
	[X]	Category
    8.	An
    entity in which each of the equity owners is an accredited investor.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	9

     

    

 

SUBSCRIBER
SIGNATURE PAGE TO SUBSCRIPTION AGREEMENT

 

+

 

	AGREED
    AND SUBSCRIBED	 	AGREED
                                            AND SUBSCRIBED

                    SIGNATURE
                    OF JOINT SUBSCRIBER

	 	 	 
	By:	 	 	This
    6th day of December 2019
	Name:	Seth
    M. Shaw	 	By:	 
	Title	 (if
    any): Chief Executive Officer	 	Name:	 
	 	 	 	Title
    (if any):	 
	 	 	 	 	 
	TAURIGA
    SCIENCES INC.	 	 	 
	 	 	 	 
	 	 	 
	Subscriber
    Name (Typed or Printed)	 	Additional
    Subscriber Name (Typed or Printed)

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