Document:

Exhibit 4.3

 

LEIIO
WELLNESS LTD.

 

as
the Corporation

 

and

 

ODYSSEY
TRUST COMPANY

 

as
the Warrant Agent

 

 

 

WARRANT
INDENTURE

Providing
for the Issue of Warrants

 

 

 

Dated
as of July 14, 2021

 

    	 

    	 

    

 

TABLE
OF CONTENTS

 

	ARTICLE
    1 INTERPRETATION	2
	 	 	 
	1.1	Definitions.	2
	1.2	Gender
    and Number	6
	1.3	Headings,
    Etc.	6
	1.4	Day
    not a Business Day.	6
	1.5	Time
    of the Essence.	6
	1.6	Monetary
    References.	7
	1.7	Applicable
    Law.	7
	 	 	 
	ARTICLE
    2 ISSUE OF WARRANTS	7
	 	 	 
	2.1	Creation
    and Issue of Warrants.	7
	2.2	Terms
    of Warrants.	7
	2.3	Warrantholder
    not a Shareholder.	8
	2.4	Warrants
    to Rank Pari Passu.	8
	2.5	Form
    of Warrants, Certificated Warrants	8
	2.6	Book
    Entry Only Warrants.	8
	2.7	Warrant
    Certificate.	10
	2.8	Legends.	11
	2.9	Register
    of Warrants.	13
	2.10	Issue
    in Substitution for Warrant Certificates Lost, etc.	14
	2.11	Exchange
    of Warrant Certificates.	14
	2.12	Transfer
    and Ownership of Warrants.	14
	2.13	Cancellation
    of Surrendered Warrants.	15
	 	 	 
	ARTICLE
    3 EXERCISE OF WARRANTS	15
	 	 	 
	3.1	Right
    of Exercise.	15
	3.2	Warrant
    Exercise.	16
	3.3	U.S.
    Prohibition.	18
	3.4	Transfer
    Fees and Taxes.	19
	3.5	Warrant
    Agency.	19
	3.6	Effect
    of Exercise of Warrant Certificates.	19
	3.7	Partial
    Exercise of Warrants; Fractions.	20
	3.8	Expiration
    of Warrants.	20
	3.9	Accounting
    and Recording.	20
	3.10	Securities
    Restrictions.	20

 

    	 

    	- ii -

    

 

	ARTICLE
    4 ADJUSTMENT OF NUMBER OF COMMON SHARES AND EXERCISE PRICE	21
	 	 	
	4.1	Adjustment
    of Number of Common Shares and Exercise Price.	21
	4.2	Entitlement
    to Common Shares on Exercise of Warrant.	24
	4.3	No
    Adjustment for Certain Transactions.	24
	4.4	Determination
    by Independent Firm	24
	4.5	Proceedings
    Prior to any Action Requiring Adjustment.	24
	4.6	Certificate
    of Adjustment.	25
	4.7	Notice
    of Special Matters.	25
	4.8	No
    Action after Notice	25
	4.9	Other
    Action.	25
	4.10	Protection
    of Warrant Agent.	26
	4.11	Participation
    by Warrantholder	26
	 	 	 
	ARTICLE
    5 RIGHTS OF THE CORPORATION AND COVENANTS	26
	 	 	 
	5.1	Optional
    Purchases by the Corporation.	26
	5.2	General
    Covenants.	27
	5.3	Warrant
    Agent’s Remuneration and Expenses	27
	5.4	Performance
    of Covenants by Warrant Agent.	27
	5.5	Enforceability
    of Warrants.	28
	 	 	 
	ARTICLE
    6 ENFORCEMENT	28
	 	 	 
	6.1	Suits
    by Warrantholders	28
	6.2	Suits
    by the Corporation.	28
	6.3	Immunity
    of Shareholders, etc.	28
	6.4	Waiver
    of Default.	28
	 	 	 
	ARTICLE
    7 MEETINGS OF WARRANTHOLDERS	29
	 	 	 
	7.1	Right
    to Convene Meetings.	29
	7.2	Notice	29
	7.3	Chairman.	29
	7.4	Quorum.	29
	7.5	Power
    to Adjourn.	30
	7.6	Show
    of Hands.	30
	7.7	Poll
    and Voting.	30
	7.8	Regulations.	30
	7.9	Corporation
    and Warrant Agent May be Represented.	30
	7.10	Powers
    Exercisable by Extraordinary Resolution.	31
	7.11	Meaning
    of Extraordinary Resolution	31
	7.12	Powers
    Cumulative.	32
	7.13	Minutes	32
	7.14	Instruments
    in Writing.	32
	7.15	Binding
    Effect of Resolutions.	32
	7.16	Holdings
    by Corporation Disregarded.	33

 

    	 

    	- iii -

    

 

	ARTICLE
    8 SUPPLEMENTAL INDENTURES	33
	 	 	 
	8.1	Provision
    for Supplemental Indentures for Certain Purposes.	33
	8.2	Successor
    Entities.	34
	 	 	 
	ARTICLE
    9 CONCERNING THE WARRANT AGENT	34
	 	 	 
	9.1	Indenture
    Legislation.	34
	9.2	Rights
    and Duties of Warrant Agent.	34
	9.3	Evidence,
    Experts and Advisers	35
	9.4	Documents,
    Monies, etc. Held by Warrant Agent.	35
	9.5	Actions
    by Warrant Agent to Protect Interest.	36
	9.6	Warrant
    Agent Not Required to Give Security.	36
	9.7	Protection
    of Warrant Agent.	36
	9.8	Replacement
    of Warrant Agent; Successor by Merger.	37
	9.9	Conflict
    of Interest	37
	9.10	Acceptance
    of Agency	38
	9.11	Warrant
    Agent Not to be Appointed Receiver	38
	9.12	Authorization
    to Carry on Business	38
	9.13	Warrant
    Agent Not Required to Give Notice of Default.	38
	9.14	Anti-Money
    Laundering.	38
	9.15	Compliance
    with Privacy Code.	39
	9.16	Securities
    Exchange Commission Certification.	39
	 	 	 
	ARTICLE
    10 GENERAL	40
	 	 	 
	10.1	Notice
    to the Corporation and the Warrant Agent.	40
	10.2	Notice
    to Warrantholders.	41
	10.3	Ownership
    of Warrants.	41
	10.4	Counterparts
    and Electronic Means.	41
	10.5	Satisfaction
    and Discharge of Indenture.	42
	10.6	Provisions
    of Indenture and Warrants for the Sole Benefit of Parties and Warrantholders.	42
	10.7	Warrants
    Owned by the Corporation - Certificate to be Provided.	42
	10.8	Severability	43
	10.9	Force
    Majeure	43
	10.10	Assignment,
    Successors and Assigns	43
	10.11	Rights
    of Rescission and Withdrawal for Holders	43

 

SCHEDULE
“A” FORM OF WARRANT

 

SCHEDULE
“B” EXERCISE FORM

 

SCHEDULE
“C” FORM OF DECLARATION FOR REMOVAL OF LEGEND

 

SCHEDULE
“D” FORM OF U.S. WARRANTHOLDER CERTIFICATION UPON EXERCISE OF WARRANTS

 

    	 

    	 

    

 

WARRANT
INDENTURE

 

THIS
WARRANT INDENTURE is dated as of July 14, 2021.

 

BETWEEN:

 

LEIIO
WELLNESS LTD., a corporation existing under the laws of the Province of Alberta (the “Corporation”),

 

-
and -

 

ODYSSEY
TRUST COMPANY, a trust company incorporated under the laws of Alberta and authorized to carry on business as a trust company in the
provinces of Alberta and British Columbia (the “Warrant Agent”).

 

WHEREAS
the Corporation proposes to complete a non-brokered private placement offering of up to 10,012,418 units of the Corporation (the
“Units”) at a price of $0.35 per Unit for aggregate gross proceeds of up to CDN $3,504,346.30 (the “Offering”).
Each Unit consists of one Common Share (hereinafter defined) and one half of one Warrant (hereinafter defined).

 

AND
WHEREAS the Corporation is therefore proposing to issue up to 5,006,209 Warrants issuable in connection with the Offering;

 

AND
WHEREAS pursuant to this Indenture, each Warrant shall, subject to adjustment as described herein, entitle the holder thereof to
acquire one (1) Common Share upon payment of the Exercise Price prior to the Expiry Time, upon the terms and conditions set forth herein;

 

AND
WHEREAS all acts and deeds necessary have been done and performed to make the Warrants, when created and issued as provided in this
Indenture, legal, valid and binding upon the Corporation with the benefits and subject to the terms of this Indenture;

 

AND
WHEREAS the foregoing recitals are made as representations and statements of fact by the Corporation, and not by the Warrant Agent.

 

NOW
THEREFORE, in consideration of the premises and mutual covenants hereinafter contained and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the Corporation hereby appoints the Warrant Agent as warrant agent to hold
the rights, interests and benefits contained herein for and on behalf of those persons who from time to time become the holders of Warrants
issued pursuant to this Indenture and the parties hereto agree as follows:

 

    	 

    	- 2 -

    

 

ARTICLE
1

INTERPRETATION

 

1.1
Definitions.

 

In
this Indenture, including the recitals and schedules hereto, and in all indentures supplemental hereto:

 

“Accredited
Investor” means an “accredited investor” within the meaning of Rule 501(a) of Regulation D under the U.S. Securities
Act;

 

“Adjustment
Period” means the period from the Effective Date up to and including the Expiry Time;

 

“Applicable
Legislation” means any statute of Canada or a province thereof, and the regulations under any such named or other statute,
relating to warrant indentures or to the rights, duties and obligations of warrant agents under warrant indentures, to the extent that
such provisions are at the time in force and applicable to this Indenture;

 

“Auditors”
means the independent firm of chartered accountants duly appointed as auditors of the Corporation, from time to time;

 

“Authenticated”
means (a) with respect to the issuance of a Warrant Certificate, one which has been duly signed by the Corporation and authenticated
by manual signature of an authorized signatory of the Warrant Agent, and (b) with respect to the issuance of an Uncertificated Warrant,
one in respect of which the Warrant Agent has completed all Internal Procedures such that the particulars of such Uncertificated Warrant
as required by Section 2.7 are entered in the register of holders of Warrants, “Authenticate”, “Authenticating”
and “Authentication” have the appropriate correlative meanings;

 

“beneficial
owner” means a person that has a beneficial interest in a Warrant;

 

“Book
Entry Only Participants” or “Participants” means institutions that participate directly or indirectly in
the Depository’s book entry registration system for the Warrants;

 

“Book
Entry Only Warrants” means Warrants that are to be held only by or on behalf of the Depository;

 

“Business
Day” means any day other than Saturday, Sunday or a statutory or civic holiday, or any other day on which banks are not open
for business in the city of Calgary, Alberta;

 

“CDS
Global Warrants” means Warrants representing all or a portion of the aggregate number of Warrants issued in the name of the
Depository represented by an Uncertificated Warrant, or if requested by the Depository or the Corporation, by a Warrant Certificate;

 

“Certificated
Warrant” means a Warrant evidenced by a writing or writings substantially in the form of Schedule “A”, attached
hereto;

 

    	 

    	- 3 -

    

 

“Common
Shares” means, subject to Article 4, fully paid and non-assessable common shares of the Corporation as presently constituted;

 

“Corporation”
means LEIIO WELLNESS LTD. or any successor entity thereto;

 

“Counsel”
means a barrister and/or solicitor or a firm of barristers and/or solicitors retained by the Warrant Agent or retained by the Corporation
and acceptable to the Warrant Agent, which may or may not be counsel for the Corporation;

 

“CSE”
means the Canadian Securities Exchange or any subsequent recognized Canadian national exchange;

 

“Current
Market Price” of the Common Shares at any date means the weighted average of the trading price per Common Share for such Common
Shares for each day there was a closing price for the twenty (20) consecutive Trading Days ending five (5) days prior to such date on
the CSE or if on such date the Common Shares are not listed on the CSE, on such stock exchange upon which such Common Shares are listed
and as selected by the directors, or, if such Common Shares are not listed on any stock exchange then on such over-the-counter market
as may be selected for such purpose by the directors of the Corporation, or, if such Common Shares are not listed on any stock exchange
or over-the counter market then at such price that the directors of the Corporation may determine to be the fair market price of the
Common Shares;

 

“Depository”
means CDS Clearing and Depository Services Inc. or such other person as is designated in writing by the Corporation to act as depository
in respect of the Warrants;

 

“Dividends”
means any dividends paid by the Corporation on its Common Shares;

 

“Effective
Date” means the date of this Indenture;

 

“Exchange
Rate” means the number of Common Shares subject to the right of purchase under each Warrant which as of the date hereof is
one;

 

“Exercise
Date” means, in relation to a Warrant, the Business Day on which such Warrant is validly exercised or deemed to be validly
exercised in accordance with Article 3 hereof;

 

“Exercise
Notice” has the meaning set forth in Section 3.2(a);

 

“Exercise
Price” at any time means the price at which a whole Common Share may be purchased by the exercise of a whole Warrant, which
is initially $0.50 per Common Share, payable in immediately available Canadian funds, subject to adjustment in accordance with the provisions
of Section 4.1;

 

“Expiry
Date” means the date that is two (2) years from the Issue Date of the Warrants;

 

“Expiry
Time” means 5:00 p.m. (Mountain Time) on the Expiry Date;

 

    	 

    	- 4 -

    

 

“Extraordinary
Resolution” has the meaning set forth in Section 7.11(a) of this Indenture; 

 

“Indemnified
Parties” has the meaning ascribed thereto in Section 9.7(e) of this Indenture

 

“Internal
Procedures” means in respect of the making of any one or more entries to, changes in or deletions of any one or more entries
in the register at any time (including without limitation, original issuance or registration of transfer of ownership), the minimum number
of the Warrant Agent’s internal procedures customary at such time for the entry, change or deletion made to be complete under the
operating procedures followed at the time by the Warrant Agent, it being understood that neither preparation nor issuance shall constitute
part of such procedures for any purpose of this definition;

 

“Issue
Date” means the date of original issuance of the respective Warrants;

 

“Offering”
has the meaning ascribed thereto in the recitals of this Indenture;

 

“person”
means an individual, body corporate, partnership, limited liability company, trust, warrant agent, executor, administrator, legal representative
or any unincorporated organization;

 

“register”
means the one set of records and accounts maintained by the Warrant Agent pursuant to Section 2.9 of this Indenture:

 

“Regulation
D” means Regulation D under the U.S. Securities Act;

 

“Regulation
S” means Regulation S under the U.S. Securities Act;

 

“Restricted
Uncertificated Warrant” means an Uncertificated Warrant that is deemed to bear the U.S. Legend;

 

“SEC”
means the U.S. Securities and Exchange Commission;

 

“Shareholders”
means holders of Common Shares;

 

“successor
entity” has the meaning ascribed thereto in Section 8.2 of this Indenture; “Tax Act” means the Income
Tax Act (Canada) and the regulations thereunder;

 

“this
Warrant Indenture”, “this Indenture”, “this Agreement”, “hereto” “herein”,
“hereby”, “hereof” and similar expressions mean and refer to this Indenture and any indenture,
deed or instrument supplemental hereto; and the expressions “Article”, “Section”, “subsection”
and “paragraph” followed by a number, letter or both mean and refer to the specified article, section, subsection
or paragraph of this Indenture;

 

“Trading
Day” means, with respect to the CSE, a day on which such exchange is open for the transaction of business or, with respect
to another exchange or an over-the-counter market, a day on which such exchange or market is open for the transaction of business;

 

    	 

    	- 5 -

    

 

“Unit”
means a unit of the Corporation composed of one (1) Common Share and one half of one (1/2) Warrant;

 

“U.S.
Common Share Legend” has the meaning set forth in Section 3.3(b);

 

“U.S.
Exchange Act” means the United States Securities Exchange Act of 1934, as amended and the rules and regulations promulgated
thereunder;

 

“U.S.
Legend” has the meaning set forth in Section 2.8(a).

 

“U.S.
Person” has the meaning set forth in Rule 902(k) of Regulation S;

 

“U.S.
Purchaser” means an original purchaser of the units of which the Warrants comprise a part, who was, at the time of purchase,
(a) a U.S. Person, (b) any person purchasing such units on behalf of, or for the account or benefit of, any U.S. Person or any person
in the United States, (c) any person who receives or received an offer to acquire such units while in the United States, and (d) any
person who was in the United States at the time such person’s buy order was made or the subscription agreement pursuant to which
such units were acquired was executed or delivered;

 

“U.S.
Securities Act” means the United States Securities Act of 1933, as amended and the rules and regulations promulgated thereunder;

 

“U.S.
Warrantholder” means any (a) Warrantholder that (i) is a U.S. Person, (ii) is in the United States, (iii) received an offer
to acquire Warrants while in the United States, or (iv) was in the United States at the time such Warrantholder’s buy order was
made or such Warrantholder executed or delivered its purchase order for the Warrants or (b) person who acquired Warrants on behalf of,
or for the account or benefit of, any U.S. Person or any person in the United States;

 

“U.S.
Warrantholder Letter” means the U.S. Warrantholder letter in substantially the form attached hereto as Schedule “D”;

 

“Uncertificated
Warrant” means any Warrant that is not a Certificated Warrant;

 

“United
States” means the United States of America, its territories and possessions, any state of the United States, and the District
of Columbia;

 

“Warrant
Agency” means the principal office of the Warrant Agent in the City of Calgary, Alberta or such other place as may be designated
in accordance with Section 3.5;

 

“Warrant
Agent” means Odyssey Trust Company, in its capacity as warrant agent of the Warrants, or its successors from time to time;

 

“Warrant
Certificate” means a certificate, substantially in the form set forth in Schedule “A” hereto, to evidence those
Warrants that will be evidenced by a certificate;

 

    	 

    	- 6 -

    

 

“Warrant
Shares” means Common Shares issuable upon exercise of the Warrants;

 

“Warrantholders”,
or “holders” without reference to Warrants, means the persons entered in the register hereinafter mentioned as holders
of Warrants outstanding at such time;

 

“Warrantholders’
Request” means an instrument signed in one or more counterparts by Warrantholders holding in the aggregate not less than 25%
of the aggregate number of all Warrants then-unexercised and then-outstanding, requesting the Warrant Agent to take some action or proceeding
specified therein;

 

“Warrants”
means the Common Share purchase warrants created by and authorized by and issuable under this Indenture, to be issued and countersigned
hereunder as a Certificated Warrant and/or Uncertificated Warrant held through the book entry registration system on a no certificate
issued basis, entitling the holder or holders thereof to purchase one (1) Common Share (subject to adjustment as herein provided) per
Warrant at the Exercise Price prior to the Expiry Time and, where the context so requires, also means the Warrants issued and Authenticated
hereunder, whether by way of Warrant Certificate or Uncertificated Warrant; and

 

“written
order of the Corporation”, “written request of the Corporation”, “written consent of the Corporation”
and “certificate of the Corporation” mean, respectively, a written order, request, consent and certificate signed
in the name of the Corporation by any two duly authorized signatories of the Corporation and may consist of one or more instruments so
executed.

 

1.2
Gender and Number.

 

Words
importing the singular number or masculine gender shall include the plural number or the feminine or neuter genders, and vice versa.

 

1.3
Headings, Etc.

 

The
division of this Indenture into Articles and Sections, the provision of a Table of Contents and the insertion of headings are for convenience
of reference only and shall not affect the construction or interpretation of this Indenture or of the Warrants.

 

1.4
Day not a Business Day.

 

If
any day on or before which any action or notice is required to be taken or given hereunder is not a Business Day, then such action or
notice shall be required to be taken or given on or before the requisite time on the next succeeding day that is a Business Day.

 

1.5
Time of the Essence.

 

Time
shall be of the essence of this Indenture.

 

    	 

    	- 7 -

    

  

1.6
Monetary References.

 

Whenever
any amounts of money are referred to herein, such amounts shall be deemed to be in lawful money of Canada unless otherwise expressed.

 

1.7
Applicable Law.

 

This
Indenture, the Warrants, the Warrant Certificates (including all documents relating thereto, which by common accord have been and will
be drafted in English) shall be construed in accordance with the laws of the Province of Alberta and the federal laws applicable therein
and shall be treated in all respects as Alberta contracts. Each of the parties hereto, which shall include the Warrantholders, irrevocably
attorns to the exclusive jurisdiction of the courts of the Province of Alberta with respect to all matters arising out of this Indenture
and the transactions contemplated herein.

 

ARTICLE
2

ISSUE
OF WARRANTS

 

2.1
Creation and Issue of Warrants.

 

A
maximum of 5,006,209 Warrants (subject to adjustment as herein provided) are hereby created and authorized to be issued in accordance
with the terms and conditions hereof. By written order of the Corporation, the Warrant Agent shall record the name of the Warrantholders
on the Warrant register and deliver Warrants to the registered Warrantholders. Registration of interests in Warrants held by the Depository
may be evidenced by a position appearing on the register for Warrants of the Warrant Agent for an amount representing the aggregate number
of such Warrants outstanding from time to time.

 

2.2
Terms of Warrants.

 

	 	(a)	Subject
    to the applicable conditions for exercise set out in Article 3 having been satisfied and subject to adjustment in accordance with
    Section 4.1, each Warrant shall entitle each holder thereof, upon the exercise thereof at any time after the Issue Date and prior
    to the Expiry Time, to acquire one (1) Common Share upon payment of the Exercise Price.
	 	 	 
	 	(b)	No
    fractional Warrants shall be issued or otherwise provided for hereunder and Warrants may only be exercised in a sufficient number
    to acquire whole numbers of Common Shares. Any fractional Warrants shall be rounded down to the nearest whole number.
	 	 	 
	 	(c)	Each
    Warrant shall entitle the holder thereof to such other rights and privileges as are set forth in this Indenture.
	 	 	 
	 	(d)	The
    number of Common Shares that may be purchased pursuant to the Warrants, and the Exercise Price therefor shall be adjusted upon the
    events and in the manner specified in Section 4.1.
	 	 	 
	 	(e)	Neither
    the Corporation nor the Warrant Agent shall have any obligation to deliver Common Shares upon the exercise of any Warrant if the
    person to whom such shares are to be delivered is a resident of a country or political subdivision thereof in which the Common Shares
    may not lawfully be issued pursuant to applicable securities legislation. The Corporation or the Warrant Agent may require any person
    to provide proof of an applicable exemption from such securities legislation to the Corporation and the Warrant Agent before Warrant
    Shares are delivered pursuant to the exercise of any Warrant.

 

    	 

    	- 8 -

    

 

2.3
Warrantholder not a Shareholder.

 

Except
as may be specifically provided herein, nothing in this Indenture or in the holding of a Warrant Certificate, entitlement to a Warrant
or otherwise, shall, in itself, confer or be construed as conferring upon a Warrantholder any right or interest whatsoever as a Shareholder,
including, but not limited to, the right to vote at, to receive notice of, or to attend, meetings of Shareholders or any other proceedings
of the Corporation, or the right to Dividends and other allocations.

 

2.4
Warrants to Rank Pari Passu.

 

All
Warrants shall rank equally and without preference over each other, whatever may be the actual date of issue thereof.

 

2.5
Form of Warrants, Certificated Warrants.

 

	 	(a)	The
    Warrants may be issued in both certificated and uncertificated form. Each Warrant originally issued to, or for the account for benefit
    of, a U.S. Purchaser, and each Warrant in exchange or substitution therefor, (a) will be evidenced by a Warrant Certificate that
    bears the U.S. Legend or (b) shall be issued in the form of a Restricted Uncertificated Warrant that is marked to bear the U.S. Legend.
    All Warrants issued in certificated form shall be evidenced by a Warrant Certificate (including all replacements issued in accordance
    with this Indenture), substantially in the form set out in Schedule “A” hereto, which shall be dated as of the Issue
    Date, shall bear such distinguishing letters and numbers as the Corporation may, with the approval of the Warrant Agent, prescribe,
    and shall be issuable in any denomination excluding fractions. All Warrants issued to the Depository may be in either a certificated
    or uncertificated form, such uncertificated form being evidenced by a book position on the register of Warrantholders to be maintained
    by the Warrant Agent in accordance with Section 2.9.
	 	 	 
	 	(b)	Each
    Warrantholder by purchasing such Warrant acknowledges and agrees that the terms and conditions set forth in the form of the Warrant
    Certificate set out in Schedule “A” hereto shall apply to all Warrants and Warrantholders regardless of whether such
    Warrants are issued in certificated or uncertificated form.

 

2.6
Book Entry Only Warrants.

 

	 	(a)	Registration
    of beneficial interests in and transfers of Warrants held by the Depository shall be made only through the book entry registration
    system and no Warrant Certificates shall be issued in respect of such Warrants except where physical certificates evidencing ownership
    in such securities are required or as set out herein or as may be requested by the Depository, as determined by the Corporation,
    from time to time. Except as provided in this Section 2.6, owners of beneficial interests in any CDS Global Warrants shall not be
    entitled to have Warrants registered in their names and shall not receive or be entitled to receive Warrants in definitive form or
    to have their names appear in the register referred to in Section 2.9 herein. Notwithstanding any terms set out herein, Warrants
    having any legend set forth in Section 2.8 herein and held in the name of the Depository may only be held in the form of Uncertificated
    Warrants with the prior consent of the Warrant Agent and in accordance with the internal procedures of the Depository and the Warrant
    Agent.
	 	 	 
	 	(b)	Notwithstanding
    any other provision in this Indenture, no CDS Global Warrants may be exchanged in whole or in part for Warrants registered, and no
    transfer of any CDS Global Warrants in whole or in part may be registered, in the name of any person other than the Depository for
    such CDS Global Warrants or a nominee thereof unless:

 

	 	(i)	the
    Depository notifies the Corporation that it is unwilling or unable to continue to act as depository in connection with the Book Entry
    Only Warrants and the Corporation is unable to locate a qualified successor;

 

    	 

    	- 9 -

    

 

	 	(ii)	the
    Corporation determines that the Depository is no longer willing, able or qualified to discharge properly its responsibilities as
    holder of the CDS Global Warrants and the Corporation is unable to locate a qualified successor;
	 	 	 
	 	(iii)	the
    Depository ceases to be a clearing agency or otherwise ceases to be eligible to be a depository and the Corporation is unable to
    locate a qualified successor;
	 	 	 
	 	(iv)	the
    Corporation determines that the Warrants shall no longer be held as Book Entry Only Warrants through the Depository;
	 	 	 
	 	(v)	such
    right is required by applicable law, as determined by the Corporation and the Corporation’s Counsel;
	 	 	 
	 	(vi)	the
    Warrant is to be Authenticated to or for the account or benefit of a U.S. Warrantholder (in which case, the Warrant Certificate shall
    contain the legend set forth in Section 2.8(a), if applicable); or
	 	 	 
	 	(vii)	such
    registration is effected in accordance with the internal procedures of the Depository and the Warrant Agent,

 

following
which, Warrants for those holders requesting the same shall be registered and issued to the beneficial owners of such Warrants or their
nominees as directed by the Depository. The Corporation shall provide a certificate of the Corporation giving notice to the Warrant Agent
of the occurrence of any event outlined in this Section 2.6(b)(i) – (vi).

 

	 	(c)	Subject
    to the provisions of this Section 2.6, any exchange of CDS Global Warrants for Warrants that are not CDS Global Warrants may be made
    in whole or in part in accordance with the provisions of Section 2.11, mutatis mutandis. All such Warrants issued in exchange for
    a CDS Global Warrant or any portion thereof shall be registered in such names as the Depository for such CDS Global Warrants shall
    direct and shall be entitled to the same benefits and subject to the same terms and conditions (except insofar as they relate specifically
    to CDS Global Warrants) as the CDS Global Warrants or portion thereof surrendered upon such exchange.
	 	 	 
	 	(d)	Every
    Warrant that is Authenticated upon registration or transfer of a CDS Global Warrant, or in exchange for or in lieu of a CDS Global
    Warrant or any portion thereof, whether pursuant to this Section 2.6, or otherwise, shall be Authenticated in the form of, and shall
    be, a CDS Global Warrant, unless such Warrant is registered in the name of a person other than the Depository for such CDS Global
    Warrant or a nominee thereof.
	 	 	 
	 	(e)	Notwithstanding
    anything to the contrary in this Indenture, subject to applicable law, the CDS Global Warrant will be issued as an Uncertificated
    Warrant, unless otherwise requested in writing by the Depository or the Corporation.
	 	 	 
	 	(f)	The
    rights of beneficial owners of Warrants who hold securities entitlements in respect of the Warrants through the book entry registration
    system shall be limited to those established by applicable law and agreements between the Depository and the Book Entry Only Participants
    and between such Book Entry Only Participants and the beneficial owners of Warrants who hold securities entitlements in respect of
    the Warrants through the book entry registration system, and such rights must be exercised through a Book Entry Only Participant
    in accordance with the rules and procedures of the Depository.

 

    	 

    	- 10 -

    

 

	 	(g)	Notwithstanding
    anything herein to the contrary, neither the Corporation nor the Warrant Agent nor any agent thereof shall have any responsibility
    or liability for:

 

	 	(i)	the
    electronic records maintained by the Depository relating to any ownership interests or any other interests in the Warrants or the
    depository system maintained by the Depository, or payments made on account of any ownership interest or any other interest of any
    person in any Warrant represented by an electronic position in the book entry registration system (other than the Depository or its
    nominee);
	 	 	 
	 	(ii)	maintaining,
    supervising or reviewing any records of the Depository or any Book Entry Only Participant relating to any such interest; or
	 	 	 
	 	(iii)	any
    advice or representation made or given by the Depository or those contained herein that relate to the rules and regulations of the
    Depository or any action to be taken by the Depository on its own direction or at the direction of any Book Entry Only Participant.

 

	 	(h)	the
    Corporation may terminate the application of this Section 2.6 in its sole discretion in which case all Warrants shall be evidenced
    by Warrant Certificates registered in the name of a person other than the Depository.

 

2.7
Warrant Certificate.

 

	 	(a)	For
    Warrants issued in certificated form, the form of certificate representing Warrants shall be substantially as set out in Schedule
    “A” hereto or such other form as is authorized from time to time by the Warrant Agent. Each Warrant Certificate shall
    be Authenticated manually on behalf of the Warrant Agent. Each Warrant Certificate shall be signed by any duly authorized signatory
    of the Corporation; whose signature shall appear on the Warrant Certificate and may be printed, lithographed or otherwise mechanically
    reproduced thereon and, in such event, certificates so signed are as valid and binding upon the Corporation as if it had been signed
    manually. Any Warrant Certificate which has a signature as hereinbefore provided shall be valid notwithstanding that the person whose
    signature is printed, lithographed or mechanically reproduced no longer holds office at the date of issuance of such certificate.
    The Warrant Certificates may be engraved, printed or lithographed, or partly in one form and partly in another, as the Warrant Agent
    may determine.
	 	 	 
	 	(b)	The
    Warrant Agent shall Authenticate Uncertificated Warrants (whether upon original issuance, exchange, registration of transfer, partial
    payment, or otherwise) by completing its Internal Procedures, and the Corporation shall, and hereby acknowledges that it shall, thereupon
    be deemed to have duly and validly issued such Uncertificated Warrants under this Indenture. Such Authentication shall be conclusive
    evidence that each such Uncertificated Warrant has been duly issued hereunder and that the holder or holders are entitled to the
    benefits of this Indenture. The register shall be final and conclusive evidence as to all matters relating to Uncertificated Warrants
    with respect to which this Indenture requires the Warrant Agent to maintain records or accounts. In case of differences between the
    register at any time and any other time the register at the later time shall be controlling, absent manifest error and such Uncertificated
    Warrants are binding on the Corporation.
	 	 	 
	 	(c)	Any
    Warrant Certificate validly issued in accordance with the terms of this Indenture in effect at the time of issue of such Warrant
    Certificate shall, subject to the terms of this Indenture and applicable law, validly entitle the holder to acquire Common Shares,
    notwithstanding that the form of such Warrant Certificate may not be in the form currently required by this Indenture.
	 	 	 
	 	(d)	No
    Warrant shall be considered issued, valid or obligatory nor shall the holder thereof be entitled to the benefits of this Indenture
    until the Warrant has been Authenticated by the Warrant Agent. Authentication by the Warrant Agent, including by way of entry on
    the register, shall not be construed as a representation or warranty by the Warrant Agent as to the validity of this Indenture or
    of such Warrant Certificates or Uncertificated Warrants (except the due Authentication thereof) or as to the performance by the Corporation
    of its obligations under this Indenture and the Warrant Agent shall in no respect be liable or answerable for the use made of the
    Warrants or any of them or of the consideration thereof. Authentication by the Warrant Agent shall be conclusive evidence as against
    the Corporation that the Warrants so Authenticated have been duly issued hereunder and that the holder thereof is entitled to the
    benefits of this Indenture.

 

    	 

    	- 11 -

    

 

	 	(e)	No
    Certificated Warrant shall be considered issued and Authenticated or, if Authenticated, shall be obligatory or shall entitle the
    holder thereof to the benefits of this Indenture, until it has been Authenticated by manual signature by or on behalf of the Warrant
    Agent substantially in the form of the Warrant Certificate set out in Schedule “A” hereto. Such Authentication on any
    such Certificated Warrant shall be conclusive evidence that such Certificated Warrant is duly Authenticated and is valid and a binding
    obligation of the Corporation and that the holder is entitled to the benefits of this Indenture.
	 	 	 
	 	(f)	No
    Uncertificated Warrant shall be considered issued and shall be obligatory or shall entitle the holder thereof to the benefits of
    this Indenture, until it has been Authenticated by entry on the register of the particulars of the Uncertificated Warrant. Such entry
    on the register of the particulars of an Uncertificated Warrant shall be conclusive evidence that such Uncertificated Warrant is
    a valid and binding obligation of the Corporation and that the holder is entitled to the benefits of this Indenture.
	 	 	 
	 	(g)	The
    Authentication by the Warrant Agent of any Warrants whether by way of entry on the register or otherwise shall not be construed as
    a representation or warranty by the Warrant Agent as to the validity of this Indenture or such Warrants (except the due Authentication
    thereof) or as to the performance by the Corporation of its obligations under this Indenture and the Warrant Agent shall in no respect
    be liable or answerable for the use made of the Warrants or any of them or the proceeds thereof.

 

2.8
Legends.

 

	 	(a)	Neither
    the Warrants nor the Warrant Shares have been, nor will they be, registered under the U.S. Securities Act or under the securities
    laws of any of the states of the United States, and may not be offered, sold or otherwise disposed by a U.S. Warrantholder unless
    an exemption from the registration requirements under the U.S. Securities Act and applicable state securities laws is available or
    the Warrants and Warrant Shares, as applicable, are the subject of an effective registration statement under the U.S. Securities
    Act. Each Warrant Certificate and Uncertificated Warrant or, if applicable, each certificate representing Warrant Shares originally
    issued for the benefit or account of a U.S. Warrantholder, and each Warrant Certificate and each Uncertificated Warrant or, if applicable,
    each certificate representing Warrant Shares issued in exchange therefor or in substitution thereof shall bear or be deemed to bear
    the following legends or such variations thereof as the Corporation may prescribe from time to time (the “U.S. Legend”)
    (and, in the case of an Uncertificated Warrant, shall be issued in the form of a Restricted Uncertificated Warrant):

      

 
“THE SECURITIES REPRESENTED HEREBY [and for Warrants, include: AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF] HAVE
NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”),
OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. THE HOLDER HEREOF, BY PURCHASING OR OTHERWISE HOLDING SUCH SECURITIES, AGREES,
FOR THE BENEFIT OF LEIIO WELLNESS LTD. (THE “CORPORATION”), THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR
OTHERWISE TRANSFERRED, DIRECTLY OR INDIRECTLY, ONLY (A) TO THE CORPORATION;(B) OUTSIDE THE UNITED STATES IN ACCORDANCE WITH REGULATION
S UNDER THE U.S. SECURITIES ACT AND IN ACCORDANCE WITH ALL LOCAL LAWS AND REGULATIONS; (C) IN ACCORDANCE WITH THE EXEMPTION FROM REGISTRATION
UNDER THE U.S. SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER, IF AVAILABLE, AND IN COMPLIANCE WITH ANY APPLICABLE STATE SECURITIES LAWS;
(D) IN COMPLIANCE WITH ANOTHER EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS, OR (E)
UNDER AN EFFECTIVE REGISTRATION STATEMENT UNDER THE U.S. SECURITIES ACT, PROVIDED THAT IN THE CASE OF CLAUSE (C) OR (D) ABOVE, THE SELLER
FURNISHES TO THE CORPORATION AND THE CORPORATION’S TRANSFER AGENT AN OPINION OF COUNSEL, OF RECOGNIZED STANDING, IN FORM AND SUBSTANCE
REASONABLY SATISFACTORY TO THE CORPORATION TO SUCH EFFECT. THE PRESENCE OF THIS LEGEND MAY IMPAIR THE ABILITY OF THE HOLDER HEREOF TO
EFFECT “GOOD DELIVERY” OF THE SECURITIES REPRESENTED HEREBY ON A CANADIAN STOCK EXCHANGE.”

 

    	 

    	- 12 -

    

 

 
if a Warrant: “THE WARRANTS EVIDENCED HEREBY AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER
THE U.S. SECURITIES ACT OR U.S. STATE SECURITIES LAWS. THIS WARRANT MAY NOT BE EXERCISED IN THE UNITED STATES BY OR FOR THE ACCOUNT OR
BENEFIT OF A “U.S. PERSON” OR A PERSON IN THE UNITED STATES UNLESS THESE WARRANTS AND THE UNDERLYING SECURITIES HAVE BEEN
REGISTERED UNDER THE U.S. SECURITIES ACT AND THE APPLICABLE SECURITIES LAWS OF ANY SUCH STATE OR AN EXEMPTION FROM SUCH REGISTRATION
REQUIREMENTS IS AVAILABLE. “UNITED STATES” AND “U.S. PERSON” ARE AS DEFINED BY REGULATION S UNDER THE U.S. SECURITIES
ACT.”

 

	 	 	provided,
    if the Warrants are being sold outside the United States in accordance with Regulation S and in compliance with applicable local
    securities laws and regulations, this legend may be removed (or the Warrants may be transferred to an unrestricted CUSIP) by the
    transferor providing a declaration to the Warrant Agent in the form set forth in Schedule “C” or as the Warrant Agent
    or the Corporation may prescribe from time to time, which may include the delivery of an opinion of counsel of recognized standing
    in form and substance satisfactory under the U.S. Securities Act; provided further, that, if any such securities are being
    sold pursuant to Rule 144 under the U.S. Securities Act, if available, or another transaction that does not require registration
    under the U.S. Securities Act or applicable state securities laws, the legend may be removed (or the Warrants may be transferred
    to an unrestricted CUSIP) by delivery to the Warrant Agent and the Corporation of an opinion of counsel, of recognized standing reasonably
    satisfactory to the Corporation and the Warrant Agent, to the effect that such legend (or restricted CUSIP) is no longer required
    under applicable requirements of the U.S. Securities Act and applicable state securities laws.
	 	 	 
	 	 	The
    Warrant Agent shall be entitled to request any other documents that it may require in accordance with its internal policies for the
    removal of the legend set forth above.
	 	 	 
	 	(b)	Each
    CDS Global Warrant originally issued in Canada and held by the Depository, and each CDS Global Warrant issued in exchange therefor
    or in substitution thereof shall bear or be deemed to bear the following legend or such variations thereof as the Corporation may
    prescribe from time to time:
	 	 	 

 

 
“UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF CDS CLEARING AND DEPOSITORY SERVICES INC. (“CDS”)
TO LEIIO WELLNESS LTD. (THE “ISSUER”) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IN RESPECT THEREOF IS REGISTERED IN THE NAME OF CDS & CO, OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF CDS (AND ANY PAYMENT IS MADE TO CDS & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF CDS), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED HOLDER HEREOF, CDS &
CO., HAS A PROPERTY INTEREST IN THE SECURITIES REPRESENTED BY THIS CERTIFICATE HEREIN, AND IT IS A VIOLATION OF ITS RIGHTS FOR ANOTHER
PERSON TO HOLD, TRANSFER OR DEAL WITH THIS CERTIFICATE.”

 

	 	(c)	Each
    Warrant Certificate shall bear or be deemed to bear the following legend or such variations thereof as the Corporation may prescribe
    from time to time:

 

 
“UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT TRADE THE SECURITY BEFORE THE DATE THAT
IS 4 MONTHS AND A DAY AFTER THE LATER OF: (A) [INSERT CLOSING DATE]; AND (B) THE DATE THAT THE CORPORATION BECOMES A REPORTING
ISSUER IN ANY PROVINCE OR TERRITORY OF CANADA.”

 

    	 

    	- 13 -

    

 

	 	(d)	Notwithstanding
    any other provisions of this Indenture, in processing and registering transfers of Warrants, no duty or responsibility whatsoever
    shall rest upon the Warrant Agent to determine the compliance by any transferor or transferee with the terms of the legend contained
    in subsections 2.8(a) or 2.8(b), or with the relevant securities laws or regulations, including, without limitation, Regulation S,
    and the Warrant Agent shall be entitled to assume that all transfers that are processed in accordance with this Indenture are legal
    and proper.

 

2.9
Register of Warrants.

 

	 	(a)	The
    Warrant Agent shall maintain records and accounts concerning the Warrants, whether certificated or uncertificated, which shall contain
    the information called for below with respect to each Warrant, together with such other information as may be required by law or
    as the Warrant Agent may elect to record. All such information shall be kept in one set of accounts and records which the Warrant
    Agent shall designate (in such manner as shall permit it to be so identified as such by an unaffiliated party) as the register of
    the holders of Warrants. The information to be entered for each account in the register of Warrants at any time shall include (without
    limitation):

 

	 	(i)	the
    name and address of the holder of the Warrants, the date of Authentication thereof and the number of Warrants;
	 	 	 
	 	(ii)	whether
    such Warrant is a Certificated Warrant or an Uncertificated Warrant and, if a Warrant Certificate, the unique number or code assigned
    to and imprinted thereupon and, if an Uncertificated Warrant, the unique number or code assigned thereto if any;
	 	 	 
	 	(iii)	whether
    such Warrant has been cancelled; and
	 	 	 
	 	(iv)	a
    register of transfers in which all transfers of Warrants and the date and other particulars of each transfer shall be entered.

 

	 	 	The
    register shall be available for inspection by the Corporation or any Warrantholder during the Warrant Agent’s regular business
    hours on a Business Day and upon payment to the Warrant Agent of its reasonable fees. Any Warrantholder exercising such right of
    inspection shall first provide an affidavit, in form satisfactory to the Corporation and the Warrant Agent, stating the name and
    address of the Warrantholder and agreeing not to use the information therein except in connection with an effort to call a meeting
    of Warrantholders or to influence the voting of Warrantholders at any meeting of Warrantholders.
	 	 	 
	 	(b)	Once
    an Uncertificated Warrant has been Authenticated, the information set forth in the register with respect thereto at the time of Authentication
    may be altered, modified, amended, supplemented or otherwise changed only to reflect exercise or proper instructions to the Warrant
    Agent from the holder as provided herein, except that the Warrant Agent may act unilaterally to make purely administrative changes
    internal to the Warrant Agent and changes to correct errors. Each person who becomes a holder of an Uncertificated Warrant, by his,
    her or its acquisition thereof shall be deemed to have irrevocably: (i) consented to the foregoing authority of the Warrant Agent
    to make such minor error corrections; and, (ii) agreed to pay to the Warrant Agent, promptly upon written demand, the full amount
    of all loss and expense (including without limitation reasonable legal fees of the Corporation and the Warrant Agent plus interest,
    at an appropriate then prevailing rate of interest to the Warrant Agent) sustained by the Corporation or the Warrant Agent as a proximate
    result of such error if, but only if, and only to the extent that such present or former holder realized any benefit as a result
    of such error and could reasonably have prevented, forestalled or minimized such loss and expense by prompt reporting of the error
    or avoidance of accepting benefits thereof whether or not such error is or should have been timely detected and corrected by the
    Warrant Agent; provided, that no person who is a bona fide purchaser shall have any such obligation to the Corporation or to the
    Warrant Agent.

 

    	 

    	- 14 -

    

 

2.10
Issue in Substitution for Warrant Certificates Lost, etc.

 

	 	(a)	If
    any Warrant Certificate becomes mutilated or is lost, destroyed or stolen, the Corporation, subject to applicable law, shall issue,
    and thereupon the Warrant Agent shall certify and deliver, a new Warrant Certificate of like tenor and bearing the same legend, if
    applicable, as the one mutilated, lost, destroyed or stolen in exchange for and in place of and upon cancellation of such mutilated
    Warrant Certificate, or in lieu of and in substitution for such lost, destroyed or stolen Warrant Certificate, and the substituted
    Warrant Certificate shall be in a form approved by the Warrant Agent, and the Warrants evidenced thereby shall be entitled to the
    benefits hereof and shall rank equally in accordance with its terms with all other Warrants issued or to be issued hereunder.
	 	 	 
	 	(b)	The
    applicant for the issue of a new Warrant Certificate pursuant to this Section 2.10 shall bear the cost of the issue thereof and in
    case of loss, destruction or theft shall, as a condition precedent to the issuance thereof, furnish to the Corporation and to the
    Warrant Agent such evidence of ownership and of the loss, destruction or theft of the Warrant Certificate so lost, destroyed or stolen
    as shall be satisfactory to the Corporation and to the Warrant Agent, in their sole discretion, and such applicant shall also be
    required to furnish an indemnity and surety bond in amount and form satisfactory to the Corporation and the Warrant Agent, in their
    sole discretion, and shall pay the reasonable charges of the Corporation and the Warrant Agent in connection therewith.

 

2.11
Exchange of Warrant Certificates.

 

	 	(a)	Any
    one or more Warrant Certificates representing any number of Warrants may, upon compliance with the reasonable requirements of the
    Warrant Agent (including compliance with applicable securities legislation), be exchanged for one or more other Warrant Certificates
    representing the same aggregate number of Warrants, and bearing the same legend, if applicable, as represented by the Warrant Certificate
    or Warrant Certificates so exchanged.
	 	 	 
	 	(b)	Warrant
    Certificates may be exchanged only at the Warrant Agency or at any other place that is designated by the Corporation with the approval
    of the Warrant Agent. Any Warrant Certificate from the holder (or such other instructions, in form satisfactory to the Warrant Agent),
    tendered for exchange shall be surrendered to the Warrant Agency and cancelled by the Warrant Agent.
	 	 	 
	 	(c)	Warrant
    Certificates exchanged for Warrant Certificates that bear the legend set forth in Section 2.8(a) shall bear the same legend.

 

2.12
Transfer and Ownership of Warrants.

 

	 	(a)	The
    Warrants may only be transferred on the register kept by the Warrant Agent at the Warrant Agency by the holder or its legal representatives
    or its attorney duly appointed by an instrument in writing in form and execution satisfactory to the Warrant Agent only upon: (a)
    in the case of a Warrant Certificate, surrendering to the Warrant Agent at the Warrant Agency the Warrant Certificate representing
    the Warrants to be transferred together with a duly executed transfer form as set forth in Schedule “A” (together with
    a declaration for removal of legend or opinion of counsel, if required by Section 2.8(a)); (b) in the case of Book Entry Only Warrants,
    in accordance with procedures prescribed by the Depository under the book entry registration system; and (c) upon compliance with:

 

	 	(i)	the
    conditions herein;
	 	 	 
	 	(ii)	such
    reasonable requirements as the Warrant Agent may prescribe; and

 

    	 

    	- 15 -

    

 

	 	(iii)	all
    applicable securities legislation and requirements of regulatory authorities;

 

and,
in the case of (a) above, such transfer shall be duly noted in such register by the Warrant Agent. Upon compliance with such requirements,
the Warrant Agent shall issue to the transferee a Warrant Certificate. Transfers within the systems of the Depository are not the responsibility
of the Warrant Agent and will not be noted on the register maintained by the Warrant Agent.

 

	 	(b)	If
    a Warrant Certificate tendered for transfer bears the legend set forth in Section 2.8(a), the Warrant Agent shall not register such
    transfer unless the transferor has provided the Warrant Agent with the Warrant Certificate and: (A) the transfer is made to the Corporation;
    (B) the transfer is made outside of the United States in a transaction meeting the requirements of Regulation S, and in compliance
    with applicable local laws and regulations, and the transferor delivers to the Warrant Agent a declaration substantially in the form
    set forth in Schedule “C” to this Warrant Indenture, or in such other form as the Warrant Agent or the Corporation may
    from time to time prescribe, together with such other evidence of the availability of an exemption (which may, without limitation,
    include an opinion of counsel, of recognized standing reasonably satisfactory to the Corporation and the Warrant Agent) as the Warrant
    Agent may reasonably require; (C) the transfer is made pursuant to the exemption from the registration requirements of the U.S. Securities
    Act provided by Rule 144 thereunder, if available, and in each case in accordance with any applicable state securities or “blue
    sky” laws; (D) the transfer is in compliance with another exemption from registration under the U.S. Securities Act and applicable
    state securities laws, or (E) the transfer is made per an effective registration statement under the U.S. Securities Act or any applicable
    state securities laws; provided that, it has prior to any transfer pursuant to Sections 2.12(b)(C) or 2.12(b)(D) furnished to the
    Warrant Agent and the Corporation an opinion of counsel in form and substance reasonably satisfactory to the Corporation and the
    Warrant Agent, to such effect. In relation to a transfer under (C) or (D) above, unless the Corporation and the Warrant Agent receive
    an opinion of counsel, of recognized standing, reasonably satisfactory to the Corporation in form and substance to the effect that
    the U.S. restrictive legend set forth in subsection 2.8(a) is no longer required on the Warrant Certificates representing the transferred
    Warrants, the Warrant Certificates received by the transferee will continue to bear the legend set forth in Section 2.8(a).
	 	 	 
	 	(c)	Subject
    to the provisions of this Indenture, Applicable Legislation and applicable law, the Warrantholder shall be entitled to the rights
    and privileges attaching to the Warrants, and the issue of Common Shares by the Corporation upon the exercise of Warrants in accordance
    with the terms and conditions herein contained shall discharge all responsibilities of the Corporation and the Warrant Agent with
    respect to such Warrants, and neither the Corporation nor the Warrant Agent shall be bound to inquire into the title of any such
    holder.

 

2.13
Cancellation of Surrendered Warrants.

 

All
Warrant Certificates surrendered pursuant to Article 3 or transferred or exchanged pursuant to Article 2 shall be cancelled by the Warrant
Agent, and, upon such circumstances, all such Uncertificated Warrants shall be deemed cancelled and so noted on the register by the Warrant
Agent. Upon request by the Corporation, the Warrant Agent shall furnish to the Corporation a cancellation certificate identifying the
Warrant Certificates so cancelled, the number of Warrants evidenced thereby, the number of Common Shares, if any, issued pursuant to
such Warrants and the details of any Warrant Certificates issued in substitution or exchange for such Warrant Certificates cancelled.

 

ARTICLE
3

EXERCISE
OF WARRANTS

 

3.1
Right of Exercise.

 

Subject
to the provisions hereof, each Warrantholder may exercise the right conferred on such holder to subscribe for and purchase one (1) Common
Share for each Warrant after the Issue Date and prior to the Expiry Time, subject to adjustment, and in accordance with the conditions
herein; provided, however, that if a Warrant tendered for exercise bears the legend set forth in Section 2.8(a), such exercise must be
permitted under the U.S. Securities Act or under any United States state securities laws.

 

    	 

    	- 16 -

    

 

3.2
Warrant Exercise.

 

	 	(a)	Other
    than Warrants held by the Depository, Warrantholders who wish to exercise the Warrants held by them in order to acquire Common Shares
    must, if permitted pursuant to the terms and conditions hereunder and as set forth in any applicable legend, complete the exercise
    form (the “Exercise Notice”) attached to the Warrant Certificate(s) which form is attached hereto as Schedule
    “B”, which may be amended by the Corporation with the consent of the Warrant Agent, if such amendment does not, in the
    reasonable opinion of the Corporation and the Warrant Agent, which may be based on the advice of Counsel, materially and adversely
    affect the rights, entitlements and interests of the Warrantholders, and deliver such certificate(s), the executed Exercise Notice
    and a certified cheque, bank draft or money order payable to or to the order of the Corporation for the aggregate Exercise Price
    to the Warrant Agent at the Warrant Agency. The Warrants represented by a Warrant Certificate shall be deemed to be surrendered upon
    personal delivery of such certificate, Exercise Notice and aggregate Exercise Price or, if such documents are sent by mail or other
    means of transmission, upon actual receipt thereof by the Warrant Agent at the office referred to above.
	 	 	 
	 	(b)	In
    addition to completing the Exercise Notice attached to the Warrant Certificate(s), a Warrantholder who is (i) present in the United
    States, (ii) a U.S. Person, (iii) a person exercising such Warrants for the account or benefit of a U.S. Person or a person in the
    United States, (iv) executing or delivering the Exercise Form attached as Schedule “B” hereto in the United States, or
    (v) requesting delivery in the United States of the Common Shares issuable upon exercise of the Warrants, must provide: (a) a
    completed and executed U.S. Warrantholder Letter; or (b) an opinion of counsel, of recognized standing, in form and substance reasonably
    satisfactory to the Corporation and the Warrant Agent, that the exercise is exempt from the registration requirements of the U.S.
    Securities Act and applicable securities laws of any state of the United States.
	 	 	 
	 	(c)	A
    Warrantholder evidenced by a security entitlement in respect of Warrants must complete the Exercise Notice and deliver the executed
    Exercise Notice and a certified cheque, bank draft or money order payable to or to the order of the Corporation for the aggregate
    Exercise Price to the Warrant Agent at the Warrant Agency. The Uncertificated Warrants shall be deemed to be surrendered upon receipt
    of the Exercise Notice and aggregate Exercise Price or, if such documents are sent by mail or other means of transmission, upon actual
    receipt thereof by the Warrant Agent at the office referred to above.
	 	 	 
	 	(d)	A beneficial owner of Warrants issued in uncertificated form evidenced by a security entitlement in respect of Warrants in the book entry registration system who desires to exercise his or her Warrants must do so by causing a Book Entry Only Participant to deliver to the Depository on behalf of the entitlement holder, notice of the owner’s intention to exercise Warrants in a manner acceptable to the Depository. Forthwith upon receipt by the Depository of such notice, as well as payment for the aggregate Exercise Price, the Depository shall deliver to the Warrant Agent confirmation of its intention to exercise Warrants (a “Confirmation”) in a manner acceptable to the Warrant Agent, including by electronic means through a book based registration system, including CDSX. An electronic exercise of the Warrants initiated by the Book Entry Only Participant through a book based registration system, including CDSX, shall constitute a representation to both the Corporation and the Warrant Agent that the beneficial owner at the time of exercise of such Warrants either: (A) is not in the United States; (B) is not a U.S. Person and is not exercising such Warrants on behalf of a U.S. Person or a person in the United States; (C) did not acquire the Warrants in the United States or on behalf of, or for the account or benefit of a U.S. Person or a person in the United States; (D) did not receive an offer to exercise the Warrant in the United States; (E) did not execute or deliver the notice of the owner’s intention to exercise such Warrants in the United States; and (F) has, in all other respects, complied with the terms of Regulation S under the U.S. Securities Act in connection with such exercise; or

                                                                               

                                                                              If the Book Entry Only Participant is not able to make or deliver either the representations in Section 3.2(d) or the representations in Section 3.2(b) by initiating the electronic exercise of the Warrants, then (a) such Warrants shall be withdrawn from the book based registration system, including CDSX, by the Book Entry Only Participant; (b) an individually registered Warrant Certificate shall be issued by the Warrant Agent to such beneficial owner or Book Entry Only Participant and (c) the exercise procedures set forth in Section 3.2(a) shall be followed.

 

    	 

    	- 17 -

    

 

	 	(e)	Payment
    representing the aggregate Exercise Price must be provided to the appropriate office of the Book Entry Only Participant in a manner
    acceptable to it. A notice in form acceptable to the Book Entry Only Participant and payment from such beneficial holder should be
    provided to the Book Entry Only Participant sufficiently in advance so as to permit the Book Entry Only Participant to deliver notice
    and payment to the Depository and for the Depository in turn to deliver notice and payment to the Warrant Agent prior to Expiry Time.
    The Depository will initiate the exercise by way of the Confirmation and forward the aggregate Exercise Price electronically to the
    Warrant Agent for prompt onward payment by the Warrant Agent to the Corporation which the Warrant Agent will promptly pay to the
    Corporation, and the Warrant Agent will execute the exercise by issuing to the Depository through the book entry registration system
    the Common Shares to which the exercising beneficial owner is entitled pursuant to the exercise. Any expense associated with the
    exercise process will be for the account of the entitlement holder exercising the Warrants and/or the Book Entry Only Participant
    exercising the Warrants on its behalf.
	 	 	 
	 	(f)	By
    causing a Book Entry Only Participant to deliver notice to the Depository, a beneficial owner shall be deemed to have irrevocably
    surrendered his or her Warrants so exercised and appointed such Book Entry Only Participant to act as his or her exclusive settlement
    agent with respect to the exercise of the Warrants and the receipt of Common Shares in connection with the obligations arising from
    such exercise.
	 	 	 
	 	(g)	Any
    notice which the Depository determines to be incomplete, not in proper form or not duly executed shall for all purposes be void and
    of no effect, and the exercise to which it relates shall be considered for all purposes not to have been exercised thereby. A failure
    by a Book Entry Only Participant to exercise or to give effect to the settlement thereof in accordance with the beneficial owner’s
    instructions will not give rise to any obligations or liability on the part of the Corporation or Warrant Agent to the Book Entry
    Only Participant or the beneficial owner.
	 	 	 
	 	(h)	Any
    exercise form or Exercise Notice referred to in this Section 3.2 shall be signed by the Warrantholder, or its executors or administrators
    or other legal representatives or an attorney of the Warrantholder, duly appointed by an instrument in writing satisfactory to the
    Warrant Agent, but such exercise form need not be executed by the Depository.
	 	 	 
	 	(i)	Any
    exercise referred to in this Section 3.2 shall require that the entire Exercise Price for Common Shares subscribed must be paid at
    the time of subscription, and such Exercise Price and original Exercise Notice executed by the Warrantholder or the Confirmation
    from the Depository must be received by the Warrant Agent prior to the Expiry Time.
	 	 	 
	 	(j)	Warrants
    may only be exercised pursuant to this Section 3.2 by or on behalf of a Warrantholder, as applicable, who makes the certifications
    set forth on the Exercise Notice set out in Schedule “B” or as provided herein.
	 	 	 
	 	(k)	If
    the form of Exercise Notice set forth in the Warrant Certificate shall have been amended, the Corporation shall cause the amended
    Exercise Notice to be forwarded to all Warrantholders.
	 	 	 
	 	(l)	Exercise
    Notices and Confirmations must be delivered to the Warrant Agent at any time during the Warrant Agent’s actual business hours
    on any Business Day prior to the Expiry Time. Any Exercise Notice or Confirmations received by the Warrant Agent after business hours
    on any Business Day other than the Expiry Date will be deemed to have been received by the Warrant Agent on the next following Business
    Day.
	 	 	 
	 	(m)	Any
    Warrant with respect to which an Exercise Notice or Confirmation is not received by the Warrant Agent before the Expiry Time shall
    be deemed to have expired and become void and all rights with respect to such Warrants shall terminate and be cancelled.

 

    	 

    	- 18 -

    

 

3.3
U.S. Prohibition.

 

The
Warrants and the Warrant Shares have not been and will not be registered under the U.S. Securities Act or the state securities laws of
any state of the United States, and the Warrants may not be exercised within the United States by or on behalf of, or for the account
or benefit of, a U.S. Person or a person in the United States unless an exemption from such registration requirements is available.

 

	 	(a)	Warrants
    may not be exercised except in compliance with the requirements set forth herein, in the Warrant Certificate hereto and in the Exercise
    Notice attached thereto and in the U.S. Warrantholder Letter hereto.
	 	 	 
	 	(b)	Common
    Shares issued upon the exercise of any Certificated Warrant (and each certificate issued in exchange therefor or in substitution
    thereof) (i) which bears the legend set forth in Section 2.8(a), or (ii) other than pursuant to Box A of the Exercise Form attached
    as Schedule “B” hereto shall be issued in certificated form and, upon such issuance, shall bear the following legend
    (the “U.S. Common Share Legend”):

 

    “THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. THE HOLDER HEREOF, BY PURCHASING OR OTHERWISE HOLDING SUCH SECURITIES, AGREES, FOR THE BENEFIT OF LEIIO WELLNESS LTD. (THE “CORPORATION”), THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, DIRECTLY OR INDIRECTLY, ONLY (A) TO THE CORPORATION; (B) OUTSIDE THE UNITED STATES IN ACCORDANCE WITH REGULATION S UNDER THE U.S. SECURITIES ACT AND IN COMPLIANCE WITH APPLICABLE LOCAL LAWS AND REGULATIONS; (C) IN ACCORDANCE WITH THE EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER, IF AVAILABLE, AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS; (D) IN COMPLIANCE WITH ANOTHER EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS, OR (E) UNDER AN EFFECTIVE REGISTRATION STATEMENT UNDER THE U.S. SECURITIES ACT, PROVIDED THAT IN THE CASE OF CLAUSE (C) OR (D), THE SELLER FURNISHES TO THE CORPORATION AND THE CORPORATION’S TRANSFER AGENT AN OPINION OF COUNSEL, OF RECOGNIZED STANDING, IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE CORPORATION TO SUCH EFFECT. THE PRESENCE OF THIS LEGEND MAY IMPAIR THE ABILITY OF THE HOLDER HEREOF TO EFFECT “GOOD DELIVERY” OF THE SECURITIES REPRESENTED HEREBY ON A CANADIAN STOCK EXCHANGE.”

 

	 	 	provided,
    if any such securities are being sold outside the United States in accordance with Regulation S and in compliance with applicable
    local securities laws and regulations, the legend set forth above may be removed by providing an executed declaration to the Corporation’s
    registrar and transfer agent in such form as the Corporation may prescribe from time to time; provided further, that, if any
    such securities are being sold pursuant to Rule 144 under the U.S. Securities Act, if available, or another transaction that does
    not require registration under the U.S. Securities Act or applicable state securities laws, the legend may be removed by delivery
    to the registrar and transfer agent of the Corporation of an opinion of counsel, of recognized standing reasonably satisfactory to
    the Corporation, to the effect that such legend is no longer required under applicable requirements of the U.S. Securities Act and
    applicable state securities laws.
	 	 	 
	 	(c)	Common
    Shares issued upon the exercise of a Restricted Uncertificated Warrant shall be issued in uncertificated form and will be deemed
    to bear the U.S. Common Share Legend.
	 	 	 
	 	(d)	Notwithstanding
    anything to the contrary contained herein or in any Warrant or other agreement or instrument, the Corporation shall be entitled to
    cause the U.S. Common Share Legend to be affixed to, or marked with respect to, any Common Shares issued upon the exercise of any
    Warrant at such time as the Corporation is not a “foreign issuer” (as defined in Regulation S) in the event that the
    Corporation determines that such affixing or marking of the U.S. Common Share Legend is then necessary to comply with U.S. securities
    laws.

 

    	 

    	- 19 -

    

 

3.4
Transfer Fees and Taxes.

 

If
any of the Common Shares subscribed for are to be issued to a person or persons other than the Warrantholder, the Warrantholder shall
execute the form of transfer and will comply with such reasonable requirements as the Warrant Agent may stipulate and will pay to the
Corporation or the Warrant Agent on behalf of the Corporation, all applicable transfer or similar taxes, and the Corporation will not
be required to issue or deliver certificates evidencing Common Shares unless or until such Warrantholder shall have paid to the Corporation,
or the Warrant Agent on behalf of the Corporation, the amount of such tax or shall have established to the satisfaction of the Corporation
and the Warrant Agent that such tax has been paid or that no tax is due.

 

3.5
Warrant Agency.

 

To
facilitate the exchange, transfer or exercise of Warrants and compliance with such other terms and conditions hereof as may be required,
the Corporation has appointed the Warrant Agency, as the agency at which Warrants may be surrendered for exchange or transfer or at which
Warrants may be exercised, and the Warrant Agent has accepted such appointment. the Corporation may, from time to time, designate alternate
or additional places as the Warrant Agency (subject to the Warrant Agent’s prior approval) and will give notice to the Warrant
Agent of any proposed change of the Warrant Agency. Branch registers shall also be kept at such other place or places, if any, as the
Corporation, with the approval of the Warrant Agent, may designate. The Warrant Agent will, from time to time, when requested to do so
by the Corporation or any Warrantholder and upon payment of the Warrant Agent’s reasonable charges, furnish a list of the names
and addresses of Warrantholders showing the number of Warrants held by each such Warrantholder.

 

3.6
Effect of Exercise of Warrant Certificates.

 

	 	(a)	Upon
    the exercise of Warrants pursuant to and in compliance with Section 3.2 and subject to Section 3.3 and Section 3.4, the Common Shares
    to be issued pursuant to the Warrants exercised shall be deemed to have been issued, and the person or persons to whom such Common
    Shares are to be issued shall be deemed to have become the holder or holders of such Common Shares on the Exercise Date unless the
    register shall be closed on such date, in which case the Common Shares subscribed for shall be deemed to have been issued and such
    person or persons deemed to have become the holder or holders of record of such Common Shares, on the date on which such register
    is reopened. It is hereby understood that, in order for persons to whom Common Shares are to be issued, to become holders of Common
    Shares of record on the Exercise Date, beneficial holders must commence the exercise process sufficiently in advance so that the
    Warrant Agent is in receipt of all items of exercise at least one Business Day prior to such Exercise Date.
	 	 	 
	 	(b)	As
    soon as practicable, and in any event no later than within five Business Days after the Exercise Date with respect to a Warrant,
    the Warrant Agent shall cause to be delivered or mailed to the person or persons in whose name or names the Warrant is registered
    or, if so specified in writing by the holder, cause to be delivered to such person or persons at the Warrant Agency where the Warrant
    Certificate was surrendered, a certificate or certificates for the appropriate number of Common Shares subscribed for, or any other
    appropriate evidence of the issuance of Common Shares to such person or persons in respect of Common Shares issued under the book
    entry registration system.

 

    	 

    	- 20 -

    

 

3.7
Partial Exercise of Warrants; Fractions.

 

	 	(a)	The
    holder of any Warrants may exercise his right to acquire a number of whole Common Shares less than the aggregate number that the
    holder is entitled to acquire. In the event of any exercise of a number of Warrants less than the number that the holder is entitled
    to exercise, the holder of Warrants upon such exercise shall, in addition, be entitled to receive, without charge therefor, one or
    more new Warrant Certificates, bearing the same legend, if applicable, or other appropriate evidence of Warrants, in respect of the
    balance of the Warrants held by such holder and which were not then exercised.
	 	 	 
	 	(b)	Notwithstanding
    anything herein contained including any adjustment provided for in Section 4.1, no fractional Common Shares will be issuable upon
    any exercise of any Warrant, and the holder of such Warrant will not be entitled to any cash payment or compensation in lieu of a
    fractional Common Share. Warrants may only be exercised in a sufficient number to acquire whole numbers of Common Shares. Any fractional
    Common Shares shall be rounded down to the nearest whole number.

 

3.8
Expiration of Warrants.

 

Immediately
after the Expiry Time, all rights under any Warrant in respect of which the right of acquisition provided for herein shall not have been
exercised shall cease and terminate, and each Warrant shall be void and of no further force or effect.

 

3.9
Accounting and Recording.

 

	 	(a)	The
    Warrant Agent shall promptly account to the Corporation with respect to Warrants exercised, and shall promptly forward to the Corporation
    (or into an account or accounts of the Corporation with the bank or trust company designated by the Corporation for that purpose),
    all monies received by the Warrant Agent on the subscription of Common Shares through the exercise of Warrants. All such monies and
    any securities or other instruments, from time to time received by the Warrant Agent, shall be received as agent for, and shall be
    segregated and kept apart by the Warrant Agent, the Warrantholders and the Corporation as their interests may appear.
	 	 	 
	 	(b)	The
    Warrant Agent shall record the particulars of Warrants exercised, which particulars shall include the names and addresses of the
    persons who become holders of Common Shares on exercise and the Exercise Date, in respect thereof. The Warrant Agent shall provide
    such particulars in writing to the Corporation within five Business Days of any request by the Corporation therefor.

 

3.10
Securities Restrictions.

 

Notwithstanding
anything herein contained, Common Shares will be issued upon exercise of a Warrant only in compliance with the securities laws of any
applicable jurisdiction.

 

    	 

    	- 21 -

    

 

ARTICLE
4

ADJUSTMENT
OF NUMBER OF COMMON SHARES AND EXERCISE PRICE

 

4.1
Adjustment of Number of Common Shares and Exercise Price.

 

The
subscription rights in effect under the Warrants for Common Shares issuable upon the exercise of the Warrants shall be subject to adjustment,
from time to time, as follows:

 

	 	(a)	if,
    at any time during the Adjustment Period, the Corporation shall:

 

	 	(i)	subdivide,
    re-divide, split or change its outstanding Common Shares into a greater number of Common Shares;
	 	 	 
	 	(ii)	reduce,
    combine or consolidate its outstanding Common Shares into a lesser number of Common Shares; or
	 	 	 
	 	(iii)	issue
    Common Shares or securities exchangeable for, or convertible into, Common Shares to all or substantially all of the holders of Common
    Shares by way of stock dividend or other distribution (other than a distribution of Common Shares upon the exercise of Warrants or
    any outstanding options);

 

(any
of such events in Section 4.1(a)(i), (ii) or (iii) being called a “Common Share Reorganization”), then the Exercise
Price shall be adjusted as of the effective date or record date of such subdivision, re-division, change, reduction, combination,consolidation
or distribution, as the case may be, shall in the case of the events referred to in (i) or (iii) above be decreased in proportion to
the number of outstanding Common Shares resulting from such subdivision, re-division, change or distribution, or shall, in the case of
the events referred to in (ii) above, be increased in proportion to the number of outstanding Common Shares resulting from such reduction,
combination or consolidation by multiplying the Exercise Price in effect immediately prior to such effective date or record date by a
fraction, the numerator of which shall be the number of Common Shares outstanding on such effective date or record date before giving
effect to such Common Share Reorganization and the denominator of which shall be the number of Common Shares outstanding as of the effective
date or record date after giving effect to such Common Shares Reorganization (including, in the case where securities exchangeable for
or convertible into Common Shares are distributed, the number of Common Share that would have been outstanding had such securities been
exchanged for or converted into Common Shares on such record date or effective date). Such adjustment shall be made successively whenever
any event referred to in this Section 4.1(a) shall occur. Upon any adjustment of the Exercise Price pursuant to Section 4.1(a), the Exchange
Rate shall be contemporaneously adjusted by multiplying the number of Common Shares theretofore obtainable on the exercise thereof by
a fraction, of which the numerator shall be the Exercise Price in effect immediately prior to such adjustment and the denominator shall
be the Exercise Price resulting from such adjustment;

 

    	 

    	- 22 -

    

 

	 	(b)	if
    and whenever, at any time during the Adjustment Period, the Corporation shall fix a record date for the issuance of rights, options
    or warrants to all or substantially all the holders of its outstanding Common Shares entitling them, for a period expiring not more
    than 45 days after such record date, to subscribe for or purchase Common Shares (or securities convertible or exchangeable into Common
    Shares) at a price per Common Share (or having a conversion or exchange price per Common Share) less than 95% of the Current Market
    Price on such record date (a “Rights Offering”), the Exercise Price shall be adjusted immediately after such record
    date so that it shall equal the amount determined by multiplying the Exercise Price in effect on such record date by a fraction,
    of which the numerator shall be the total number of Common Shares outstanding on such record date plus a number of Common Shares
    equal to the number arrived at by dividing the aggregate price of the total number of additional Common Shares offered for subscription
    or purchase (or the aggregate conversion or exchange price of the convertible or exchangeable securities so offered) by the Current
    Market Price, and of which the denominator shall be the total number of Common Shares outstanding on such record date plus the total
    number of additional Common Shares offered for subscription or purchase or into which the convertible or exchangeable securities
    so offered are convertible or exchangeable; any Common Shares owned by or held for the account of the Corporation shall be deemed
    not to be outstanding for the purpose of any such computation; such adjustment shall be made successively whenever such a record
    date is fixed; to the extent that no such rights or warrants are exercised prior to the expiration thereof, the Exercise Price shall
    be readjusted to the Exercise Price which would then be in effect if such record date had not been fixed or, if any such rights or
    warrants are exercised, to the Exercise Price which would then be in effect based upon the number of Common Shares (or securities
    convertible or exchangeable into Common Shares) actually issued upon the exercise of such rights or warrants, as the case may be.
    Upon any adjustment of the Exercise Price pursuant to this Section 4.1(b), the Exchange Rate will be adjusted immediately after such
    record date so that it will equal the rate determined by multiplying the Exchange Rate in effect on such record date by a fraction,
    of which the numerator shall be the Exercise Price in effect immediately prior to such adjustment and the denominator shall be the
    Exercise Price resulting from such adjustment. Such adjustment will be made successively whenever such a record date is fixed, provided
    that, if two or more such record dates or record dates referred to in this Section 4.1(b) are fixed within a period of 25 Trading
    Days, such adjustment will be made successively as if each of such record dates occurred on the earliest of such record dates;
	 	 	 
	 	(c)	if
    and whenever at any time during the Adjustment Period the Corporation shall fix a record date for the making of a distribution to
    all or substantially all the holders of its outstanding Common Shares of: (i) securities of any class, whether of the Corporation
    or any other trust (other than Common Shares); (ii) rights, options or warrants to subscribe for or purchase Common Shares (or other
    securities convertible into or exchangeable for Common Shares), other than pursuant to a Rights Offering; (iii) evidences of its
    indebtedness; or (iv) any property or other assets, then, in each such case, the Exercise Price shall be adjusted immediately after
    such record date so that it shall equal the price determined by multiplying the Exercise Price in effect on such record date by a
    fraction, of which the numerator shall be the total number of Common Shares outstanding on such record date multiplied by the Current
    Market Price on such record date, less the excess, if any, of the fair market value on such record date, as determined by the Corporation
    (whose determination shall be conclusive), subject to any required stock exchange approval, of such securities or other assets so
    issued or distributed over the fair market value of any consideration received therefor by the Corporation from the holders of the
    Common Shares, and of which the denominator shall be the total number of Common Shares outstanding on such record date multiplied
    by the Current Market Price; and Common Shares owned by or held for the account of the Corporation shall be deemed not to be outstanding
    for the purpose of any such computation; such adjustment shall be made successively whenever such a record date is fixed; to the
    extent that such distribution is not so made, the Exercise Price shall be readjusted to the Exercise Price which would then be in
    effect if such record date had not been fixed. Upon any adjustment of the Exercise Price pursuant to this Section 4.1(c), the Exchange
    Rate will be adjusted immediately after such record date so that it will equal the rate determined by multiplying the Exchange Rate
    in effect on such record date by a fraction, of which the numerator shall be the Exercise Price in effect immediately prior to such
    adjustment and the denominator shall be the Exercise Price resulting from such adjustment;

 

    	 

    	- 23 -

    

 

	 	(d)	if
    and whenever at any time during the Adjustment Period, there is a reclassification of the Common Shares or a capital reorganization
    of the Corporation other than as described in Section 4.1(a) or a consolidation, amalgamation, arrangement or merger of the Corporation
    with or into any other body corporate, trust, partnership, limited liability company or other entity, or a sale or conveyance of
    the property and assets of the Corporation as an entirety or substantially as an entirety to any other body corporate, trust, partnership,
    limited liability company or other entity, any Warrantholder who has not exercised its right of acquisition prior to the effective
    date of such reclassification, capital reorganization, consolidation, amalgamation, arrangement or merger, sale or conveyance, upon
    the exercise of such right thereafter, shall be entitled to receive upon payment of the Exercise Price and shall accept, in lieu
    of the number of Common Shares that prior to such effective date the Warrantholder would have been entitled to receive, the number
    of shares or other securities or property of the Corporation or of the body corporate, trust, partnership, limited liability company
    or other entity resulting from such merger, amalgamation or consolidation, or to which such sale or conveyance may be made, as the
    case may be, that such Warrantholder would have been entitled to receive on such reclassification, capital reorganization, consolidation,
    amalgamation, arrangement or merger, sale or conveyance, if, on the effective date thereof, as the case may be, the Warrantholder
    had been the registered holder of the number of Common Shares to which prior to such effective date it was entitled to acquire upon
    the exercise of the Warrants. If determined appropriate by the Warrant Agent, relying on advice of Counsel, to give effect to or
    to evidence the provisions of this Section 4.1(d), the Corporation, its successor, or such purchasing body corporate, partnership,
    limited liability company, trust or other entity, as the case may be, shall, prior to or contemporaneously with any such reclassification,
    capital reorganization, consolidation, amalgamation, arrangement, merger, sale or conveyance, enter into an indenture which shall
    provide, to the extent possible, for the application of the provisions set forth in this Indenture with respect to the rights and
    interests thereafter of the Warrantholders to the end that the provisions set forth in this Indenture shall thereafter correspondingly
    be made applicable, as nearly as may reasonably be, with respect to any shares, other securities or property to which a Warrantholder
    is entitled on the exercise of its acquisition rights thereafter. Any indenture entered into between the Corporation and the Warrant
    Agent pursuant to the provisions of this Section 4.1(d) shall be a supplemental indenture entered into pursuant to the provisions
    of Article 8 hereof. Any indenture entered into between the Corporation, any successor to the Corporation or such purchasing body
    corporate, partnership, limited liability company, trust or other entity and the Warrant Agent shall provide for adjustments which
    shall be as nearly equivalent as may be practicable to the adjustments provided in this Section 4.1 and which shall apply to successive
    reclassifications, capital reorganizations, amalgamations, consolidations, mergers, sales or conveyances;
	 	 	 
	 	(e)	in
    any case in which this Section 4.1 shall require that an adjustment shall become effective immediately after a record date for an
    event referred to herein, the Corporation may defer, until the occurrence of such event, issuing to the Warrantholder of any Warrant
    exercised after the record date and prior to completion of such event the additional Common Shares issuable by reason of the adjustment
    required by such event before giving effect to such adjustment; provided, however, that the Corporation shall deliver to such Warrantholder
    an appropriate instrument evidencing such Warrantholder’s right to receive such additional Common Shares upon the occurrence
    of the event requiring such adjustment and the right to receive any distributions made on such additional Common Shares declared
    in favour of holders of record of Common Shares on and after the relevant date of exercise or such later date as such Warrantholder
    would, but for the provisions of this Section 4.1(e), have become the holder of record of such additional Common Shares pursuant
    to Section 4.1;
	 	 	 
	 	(f)	in
    any case in which Section 4.1(a)(iii), Section 4.1(b) or Section 4.1(c) require that an adjustment be made to the Exercise Price,
    no such adjustment shall be made if the Warrantholders of the outstanding Warrants receive, subject to any required stock exchange
    or regulatory approval, the rights or warrants referred to in Section 4.1(a)(iii), Section 4.1(b) or the shares, rights, options,
    warrants, evidences of indebtedness or assets referred to in Section 4.1(c), as the case may be, in such kind and number as they
    would have received if they had been holders of Common Shares on the applicable record date or effective date, as the case may be,
    by virtue of their outstanding Warrant having then been exercised into Common Shares at the Exercise Price in effect on the applicable
    record date or effective date, as the case may be;

 

    	 

    	- 24 -

    

 

	 	(g)	the
    adjustments provided for in this Section 4.1 are cumulative, and shall, in the case of adjustments to the Exercise Price be computed
    to the nearest whole cent and shall apply to successive subdivisions, re-divisions, reductions, combinations, consolidations, distributions,
    issues or other events resulting in any adjustment under the provisions of this Section 4.1, provided that, notwithstanding any other
    provision of this Section, no adjustment of the Exercise Price shall be required unless such adjustment would require an increase
    or decrease of at least 1% in the Exercise Price then in effect and no change in the number of Common Shares issuable upon exercise
    of the Warrants shall be required unless such adjustment would require adjustment by at least one one-hundredth of a Common Share,
    as applicable; provided, however, that any adjustments that, by reason of this Section 4.1(g), are not required to be made shall
    be carried forward and taken into account in any subsequent adjustment; and
	 	 	 
	 	(h)	after
    any adjustment pursuant to this Section 4.1, the term “Common Shares” where used in this Indenture shall be interpreted
    to mean securities of any class or classes which, as a result of such adjustment and all prior adjustments pursuant to this Section
    4.1, the Warrantholder is entitled to receive upon the exercise of his Warrant, and the number of Common Shares indicated by any
    exercise made pursuant to a Warrant shall be interpreted to mean the number of Common Shares or other property or securities a Warrantholder
    is entitled to receive, as a result of such adjustment and all prior adjustments pursuant to this Section 4.1, upon the full exercise
    of a Warrant.

 

4.2
Entitlement to Common Shares on Exercise of Warrant.

 

All
Common Shares or shares of any class or other securities, which a Warrantholder is at the time in question entitled to receive on the
exercise of its Warrant, whether or not as a result of adjustments made pursuant to this Article 4, shall, for the purposes of the interpretation
of this Indenture, be deemed to be Common Shares that such Warrantholder is entitled to acquire pursuant to such Warrant.

 

4.3
No Adjustment for Certain Transactions.

 

Notwithstanding
anything in this Article 4, no adjustment shall be made in the acquisition rights attached to the Warrants if the issue of Common Shares
is being made pursuant to this Indenture or in connection with: (a) any share incentive plan or restricted share plan or share purchase
plan in force from time to time for directors, officers, employees, consultants or other service providers of the Corporation; (b) the
satisfaction of existing instruments issued at the date hereof; or (c) payment of Dividends in the ordinary course.

 

4.4
Determination by Independent Firm.

 

In
the event of any question arising with respect to the adjustments provided for in this Article 4, such question shall be conclusively
determined by an independent firm of chartered accountants (other than the Auditors), who shall have access to all necessary records
of the Corporation, and such determination shall be binding upon the Corporation, the Warrant Agent, all holders and all other persons
interested therein.

 

4.5
Proceedings Prior to any Action Requiring Adjustment.

 

As
a condition precedent to the taking of any action which would require an adjustment in any of the acquisition rights pursuant to any
of the Warrants, including the number of Common Shares which are to be received upon the exercise thereof, the Corporation shall take
any action which may, in the opinion of Counsel, be necessary in order that the Corporation has unissued and reserved in its authorized
capital and may validly and legally issue as fully paid and non-assessable all the Common Shares which the holders of such Warrants are
entitled to receive on the full exercise thereof in accordance with the provisions hereof.

 

    	 

    	- 25 -

    

 

4.6
Certificate of Adjustment.

 

The
Corporation shall from time to time immediately after the occurrence of any event which requires an adjustment or readjustment as provided
in Section 4.1, deliver a certificate of the Corporation to the Warrant Agent specifying the nature of the event requiring the same and
the amount of the adjustment or readjustment necessitated thereby and setting forth in reasonable detail the method of calculation and
the facts upon which such calculation is based, which certificate shall be supported by a certificate of the Corporation’s Auditors
verifying such calculation. The Warrant Agent shall rely, and shall be protected in so doing, upon the certificate of the Corporation
or of the Corporation’s Auditor and any other document filed by the Corporation pursuant to this Article 4 for all purposes.

 

4.7
Notice of Special Matters.

 

The
Corporation covenants with the Warrant Agent that, so long as any Warrant remains outstanding, it will give notice to the Warrant Agent
and to the Warrantholders of its intention to fix a record date that is prior to the Expiry Date for any matter for which an adjustment
may be required pursuant to Section 4.1. Such notice shall specify the particulars of such event and the record date for such event,
provided that the Corporation shall only be required to specify in the notice such particulars of the event as shall have been fixed
and determined on the date on which the notice is given. the Corporation shall use its reasonable commercial efforts to give such notice
not less than 14 days prior to such applicable record date. If notice has been given and the adjustment is not then determinable, the
Corporation shall promptly, after the adjustment is determinable, file with the Warrant Agent a computation of the adjustment and give
notice to the Warrantholders of such adjustment computation.

 

4.8
No Action after Notice.

 

The
Corporation covenants with the Warrant Agent that it will not close its transfer books or take any other corporate action which would
deprive the Warrantholder of the opportunity to exercise its right of acquisition pursuant thereto during the period of 14 days after
the giving of the certificate or notices set forth in Section 4.6 and Section 4.7.

 

4.9
Other Action.

 

If
the Corporation, after the date hereof, shall take any action affecting the Common Shares (other than action described in Section 4.1),
which in the reasonable opinion of the directors of the Corporation, would materially affect the rights of Warrantholders, the Exercise
Price and/or the Exchange Rate, the number of Common Shares which may be acquired upon exercise of the Warrants shall be adjusted in
such manner and at such time, by action of the directors, acting reasonably and in good faith, in their sole discretion, as they may
determine to be equitable to the Warrantholders in the circumstances, provided that no such adjustment will be made unless any requisite
prior approval of any stock exchange on which the Common Shares are listed for trading has been obtained.

 

    	 

    	- 26 -

    

 

4.10
Protection of Warrant Agent.

 

The
Warrant Agent shall not:

 

	 	(a)	at
    any time be under any duty or responsibility to any Warrantholder to determine whether any facts exist which may require any adjustment
    contemplated by Section 4.1, or with respect to the nature or extent of any such adjustment when made, or with respect to the method
    employed in making the same;
	 	 	 
	 	(b)	be
    accountable with respect to the validity or value (or the kind or amount) of any Common Shares or of any other securities or property
    which may, at any time, be issued or delivered upon the exercise of the rights attaching to any Warrant;
	 	 	 
	 	(c)	be
    responsible for any failure of the Corporation to issue, transfer or deliver Common Shares or certificates for the same upon the
    surrender of any Warrants for the purpose of the exercise of such rights or to comply with any of the covenants contained in this
    Article; and
	 	 	 
	 	(d)	incur
    any liability or be in any way responsible for the consequences of any breach on the part of the Corporation of any of the representations,
    warranties or covenants herein contained or of any acts of the directors, officers, employees, agents or servants of the Corporation.

 

4.11
Participation by Warrantholder.

 

No
adjustments shall be made pursuant to this Article 4 if the Warrantholders are entitled to participate in any event described in this
Article 4 on the same terms, mutatis mutandis, as if the Warrantholders had exercised their Warrants prior to, or on the effective date
or record date of, such event.

 

ARTICLE
5

RIGHTS
OF THE CORPORATION AND COVENANTS

 

5.1
Optional Purchases by the Corporation.

 

Subject
to compliance with applicable securities legislation and approval of applicable regulatory authorities, if any, the Corporation may,
from time to time purchase, by private contract or otherwise any of the Warrants. Any such purchase shall be made at the lowest price
or prices at which, in the opinion of the directors, such Warrants are then obtainable, plus reasonable costs of purchase, and may be
made in such manner, from such persons and on such other terms as the Corporation, in its sole discretion, may determine. In the case
of Certificated Warrants, Warrant Certificates representing the Warrants purchased pursuant to this Section 5.1 shall forthwith be delivered
to and cancelled by the Warrant Agent and reflected accordingly on the register of Warrants. In the case of Uncertificated Warrants,
the Warrants purchased pursuant to this Section 5.1 shall be reflected accordingly on the register of Warrants and in accordance with
procedures prescribed by the Depository under the book entry registration system. No Warrants shall be issued in replacement thereof.

 

    	 

    	- 27 -

    

 

5.2
General Covenants.

 

The
Corporation covenants with the Warrant Agent that, so long as any Warrants remain outstanding:

 

	 	(a)	it
    will reserve and keep available a sufficient number of Common Shares for the purpose of enabling it to satisfy its obligations to
    issue Common Shares upon the exercise of the Warrants;
	 	 	 
	 	(b)	it
    will cause the Common Shares from time to time acquired pursuant to the exercise of the Warrants to be duly issued and delivered
    in accordance with the Warrants and the terms hereof;
	 	 	 
	 	(c)	all
    Common Shares which shall be issued upon exercise of the right to acquire provided for herein shall be fully paid and non-assessable;
	 	 	 
	 	(d)	it
    will use reasonable commercial efforts to maintain its existence and carry on its business in the ordinary course;
	 	 	 
	 	(e)	it
    will make all requisite filings under applicable Canadian securities legislation; and
	 	 	 
	 	(f)	it
    will promptly notify the Warrant Agent and the Warrantholders in writing of any material default under the terms of this Warrant
    Indenture which remains unrectified for more than ten days following its occurrence.

 

5.3
Warrant Agent’s Remuneration and Expenses.

 

The
Corporation covenants that it will pay to the Warrant Agent from time to time reasonable remuneration for its services hereunder and
will pay or reimburse the Warrant Agent upon its request for all reasonable expenses, disbursements and advances incurred or made by
the Warrant Agent in the administration or execution of the duties hereby created (including the reasonable compensation and the disbursements
of its Counsel and all other advisers and assistants not regularly in its employ) both before any default hereunder and thereafter until
all duties of the Warrant Agent hereunder shall be finally and fully performed. Any amount owing hereunder and remaining unpaid after
30 days from the invoice date will bear interest at the then current rate charged by the Warrant Agent against unpaid invoices and shall
be payable upon demand. This Section shall survive the resignation or removal of the Warrant Agent and/or the termination of this Indenture.

 

5.4
Performance of Covenants by Warrant Agent.

 

If
the Corporation fails to perform any of its covenants contained in this Indenture, the Warrant Agent may notify the Warrantholders of
such failure on the part of the Corporation and may itself perform any of the covenants capable of being performed by it but, subject
to Section 9.2, shall be under no obligation to perform said covenants or to notify the Warrantholders of such performance by it. All
sums expended or advanced by the Warrant Agent in so doing shall be repayable as provided in Section 5.3. No such performance, expenditure
or advance by the Warrant Agent shall relieve the Corporation of any default hereunder or of its continuing obligations under the covenants
herein contained.

 

    	 

    	- 28 -

    

 

5.5
Enforceability of Warrants.

 

The
Corporation covenants and agrees that it is duly authorized to create and issue the Warrants to be issued hereunder and that the Warrants,
when issued and Authenticated as herein provided, will be valid and enforceable against the Corporation in accordance with the provisions
hereof and the terms hereof and that, subject to the provisions of this Indenture, the Corporation will cause the Common Shares from
time to time acquired upon exercise of Warrants issued under this Indenture to be duly issued and delivered in accordance with the terms
of this Indenture.

 

ARTICLE
6

ENFORCEMENT

 

6.1
Suits by Warrantholders.

 

All
or any of the rights conferred upon any Warrantholder by any of the terms of this Indenture may be enforced by the Warrantholder by appropriate
proceedings but without prejudice to the right which is hereby conferred upon the Warrant Agent to proceed in its own name to enforce
each and all of the provisions herein contained for the benefit of the Warrantholders.

 

6.2
Suits by the Corporation.

 

The
Corporation shall have the right to enforce full payment of the Exercise Price of all Common Shares issued by the Warrant Agent to a
Warrantholder hereunder and shall be entitled to demand such payment from the Warrantholder or alternatively to instruct the Warrant
Agent to cancel the share certificates and amend the securities register accordingly.

 

6.3
Immunity of Shareholders, etc.

 

The
Warrant Agent and the Warrantholders hereby waive and release any right, cause of action or remedy now or hereafter existing in any jurisdiction
against any incorporator or any past, present or future shareholder, trustee, director, officer, employee or agent of the Corporation
or any successor entity on any covenant, agreement, representation or warranty by the Corporation herein.

 

6.4
Waiver of Default.

 

Upon
the happening of any default hereunder:

 

	 	(a)	the
    Warrantholders of not less than 51% of the Warrants then-outstanding shall have power (in addition to the powers exercisable by Extraordinary
    Resolution) by requisition in writing to instruct the Warrant Agent to waive any default hereunder and the Warrant Agent shall thereupon
    waive the default upon such terms and conditions as shall be prescribed in such requisition; or
	 	 	 
	 	(b)	the
    Warrant Agent shall have power to waive any default hereunder upon such terms and conditions as the Warrant Agent may deem advisable,
    on the advice of Counsel, if, in the Warrant Agent’s opinion, based on the advice of Counsel, the same shall have been cured
    or adequate provision made therefor;

 

provided
that no delay or omission of the Warrant Agent or of the Warrantholders to exercise any right or power accruing upon any default shall
impair any such right or power or shall be construed to be a waiver of any such default or acquiescence therein and provided further
that no act or omission either of the Warrant Agent or of the Warrantholders in the premises shall extend to or be taken in any manner
whatsoever to affect any subsequent default hereunder of the rights resulting therefrom.

 

    	 

    	- 29 -

    

 

ARTICLE
7

MEETINGS
OF WARRANTHOLDERS

 

7.1
Right to Convene Meetings.

 

The
Warrant Agent may, at any time and from time to time, and shall on receipt of a written request of the Corporation or of a Warrantholders’
Request and upon being indemnified and funded to its reasonable satisfaction by the Corporation or by the Warrantholders signing such
Warrantholders’ Request against the costs which may be incurred in connection with the calling and holding of such meeting, convene
a meeting of the Warrantholders. If the Warrant Agent fails to so call a meeting within 30 days after receipt of such written request
of the Corporation or such Warrantholders’ Request and the indemnity and funding given as aforesaid, the Corporation or such Warrantholders,
as the case may be, may convene such meeting. Every such meeting shall be held in City of Calgary, Alberta or at such other place as
may be mutually approved or determined by the Warrant Agent and the Corporation.

 

7.2
Notice.

 

At
least 21 days’ prior written notice of any meeting of Warrantholders shall be given to the Warrantholders in the manner provided
for in Section 10.2 and a copy of such notice shall be sent by mail to the Warrant Agent (unless the meeting has been called by the Warrant
Agent) and to the Corporation (unless the meeting has been called by the Corporation). Such notice shall state the time when and the
place where the meeting is to be held, shall state briefly the general nature of the business to be transacted thereat and shall contain
such information as is reasonably necessary to enable the Warrantholders to make a reasoned decision on the matter, but it shall not
be necessary for any such notice to set out the terms of any resolution to be proposed or any of the provisions of this Section 7.2.

 

7.3
Chairman.

 

An
individual (who need not be a Warrantholder) designated in writing by the Warrant Agent and the Corporation shall be chairman of the
meeting and, if no individual is so designated, or if the individual so designated is not present within fifteen minutes from the time
fixed for the holding of the meeting, the Warrantholders present in person or by proxy shall choose an individual present to be chairman.

 

7.4
Quorum.

 

Subject
to the provisions of Section 7.11, at any meeting of the Warrantholders a quorum shall consist of Warrantholder(s) present in person
or by proxy holding at least 10% of the aggregate number of all the then outstanding Warrants. If a quorum of the Warrantholders shall
not be present within thirty minutes from the time fixed for holding any meeting, the meeting, if summoned by Warrantholders or on a
Warrantholders’ Request, shall be dissolved; but in any other case the meeting shall be adjourned to the same day in the next week
(unless such day is not a Business Day, in which case it shall be adjourned to the next following Business Day) at the same time and
place and no notice of the adjournment need be given. Any business may be brought before or dealt with at an adjourned meeting which
might have been dealt with at the original meeting in accordance with the notice calling the same. No business shall be transacted at
any meeting unless a quorum be present at the commencement of business. At the adjourned meeting the Warrantholders present in person
or by proxy shall form a quorum and may transact the business for which the meeting was originally convened, notwithstanding that they
may not hold at least 10% of the aggregate number of all then outstanding Warrants.

 

    	 

    	- 30 -

    

 

7.5
Power to Adjourn.

 

The
chairman of any meeting at which a quorum of the Warrantholders is present may, with the consent of the meeting, adjourn any such meeting,
and no notice of such adjournment need be given except such notice, if any, as the meeting may prescribe.

 

7.6
Show of Hands.

 

Every
question submitted to a meeting shall be decided in the first place by a majority of the votes given on a show of hands except that votes
on an Extraordinary Resolution shall be given in the manner hereinafter provided. At any such meeting, unless a poll is duly demanded
as herein provided, a declaration by the chairman that a resolution has been carried or carried unanimously or by a particular majority
or lost or not carried by a particular majority shall be conclusive evidence of the fact.

 

7.7
Poll and Voting.

 

	 	(a)	On
    every Extraordinary Resolution, and on any other question submitted to a meeting and after a vote by show of hands when demanded
    by the chairman or by one or more of the Warrantholders acting in person or by proxy and holding in the aggregate at least 5% of
    all the Warrants then outstanding, a poll shall be taken in such manner as the chairman shall direct. Questions other than those
    required to be determined by Extraordinary Resolution shall be decided by a majority of the votes cast on the poll.
	 	 	 
	 	(b)	On
    a show of hands, every person who is present and entitled to vote, whether as a Warrantholder or as proxy for one or more absent
    Warrantholders, or both, shall have one vote. On a poll, each Warrantholder present in person or represented by a proxy duly appointed
    by instrument in writing shall be entitled to one vote in respect of each Warrant then held or represented by it. A proxy need not
    be a Warrantholder. The chairman of any meeting shall be entitled, both on a show of hands and on a poll, to vote in respect of the
    Warrants, if any, held or represented by him.

 

7.8
Regulations.

 

	 	(a)	The
    Warrant Agent, or the Corporation with the approval of the Warrant Agent, may from time to time make and from time to time vary such
    regulations as it shall think fit for the setting of the record date for a meeting for the purpose of determining Warrantholders
    entitled to receive notice of and to vote at the meeting.
	 	 	 
	 	(b)	Any
    regulations so made shall be binding and effective and the votes given in accordance therewith shall be valid and shall be counted.
    Save as such regulations may provide, the only persons who shall be recognized at any meeting as a Warrantholder, or be entitled
    to vote or be present at the meeting in respect thereof (subject to Section 7.9), shall be Warrantholders or proxies of Warrantholders.

 

7.9
Corporation and Warrant Agent May be Represented.

 

The
Corporation and the Warrant Agent, by their respective directors, officers, agents, and employees and the Counsel for the Corporation
and for the Warrant Agent may attend any meeting of the Warrantholders.

 

    	 

    	- 31 -

    

 

7.10
Powers Exercisable by Extraordinary Resolution.

 

In
addition to all other powers conferred upon them by any other provisions of this Indenture or by law, the Warrantholders at a meeting
shall, subject to the provisions of Section 7.11, have the power exercisable from time to time by Extraordinary Resolution:

 

	 	(a)	to
    agree to any modification, abrogation, alteration, compromise or arrangement of the rights of Warrantholders or the Warrant Agent
    in its capacity as warrant agent hereunder (subject to the Warrant Agent’s prior consent, acting reasonably) or on behalf of
    the Warrantholders against the Corporation whether such rights arise under this Indenture or otherwise;
	 	 	 
	 	(b)	to
    amend, alter or repeal any Extraordinary Resolution previously passed or sanctioned by the Warrantholders;
	 	 	 
	 	(c)	to
    direct or to authorize the Warrant Agent, subject to Section 9.2(b) hereof, to enforce any of the covenants on the part of the Corporation
    contained in this Indenture or to enforce any of the rights of the Warrantholders in any manner specified in such Extraordinary Resolution
    or to refrain from enforcing any such covenant or right;
	 	 	 
	 	(d)	to
    waive, and to direct the Warrant Agent to waive, any default on the part of the Corporation in complying with any provisions of this
    Indenture either unconditionally or upon any conditions specified in such Extraordinary Resolution;
	 	 	 
	 	(e)	to
    restrain any Warrantholder from taking or instituting any suit, action or proceeding against the Corporation for the enforcement
    of any of the covenants on the part of the Corporation in this Indenture or to enforce any of the rights of the Warrantholders;
	 	 	 
	 	(f)	to
    direct any Warrantholder who, as such, has brought any suit, action or proceeding to stay or to discontinue or otherwise to deal
    with the same upon payment of the costs, charges and expenses reasonably and properly incurred by such Warrantholder in connection
    therewith;
	 	 	 
	 	(g)	to
    assent to any change in or omission from the provisions contained in this Indenture or any ancillary or supplemental instrument which
    may be agreed to by the Corporation, and to authorize the Warrant Agent to concur in and execute any ancillary or supplemental indenture
    embodying the change or omission;
	 	 	 
	 	(h)	with
    the consent of the Corporation, such consent not to be unreasonably withheld, to remove the Warrant Agent or its successor in office
    and to appoint a new warrant agent or warrant agents to take the place of the Warrant Agent so removed; and
	 	 	 
	 	(i)	to
    assent to any compromise or arrangement with any creditor or creditors or any class or classes of creditors, whether secured or otherwise,
    and with holders of any shares or other securities of the Corporation.

 

7.11
Meaning of Extraordinary Resolution.

 

	 	(a)	The
    expression “Extraordinary Resolution” when used in this Indenture means, subject as hereinafter provided in this
    Section 7.11 and in Section 7.14, a resolution: (i) proposed at a meeting of Warrantholders duly convened for that purpose and held
    in accordance with the provisions of this Article 7 at which there are present in person or by proxy Warrantholders holding at least
    10% of the aggregate number of Warrants and passed by the affirmative votes of Warrantholders holding not less than 66 2/3% of the
    aggregate number of then outstanding Warrants at the meeting and voted on the poll upon such resolution; or (ii) in writing signed
    by the holders of at least 66 2/3% of the then outstanding Warrants on any matter that would otherwise be voted upon at a meeting
    called to approve such resolution as contemplated in Section 7.11(a)(i).

 

    	 

    	- 32 -

    

 

	 	(b)	If,
    at the meeting at which an Extraordinary Resolution is to be considered, Warrantholders holding at least 10% of the aggregate number
    of then outstanding Warrants are not present in person or by proxy within 30 minutes after the time appointed for the meeting, then
    the meeting, if convened by Warrantholders or on a Warrantholders’ Request, shall be dissolved, but, in any other case, it
    shall stand adjourned to such day, being not less than 15 or more than 60 days later, and to such place and time as may be appointed
    by the chairman. Not less than 14 days’ prior notice shall be given of the time and place of such adjourned meeting in the
    manner provided for in Section 10.2. Such notice shall state that at the adjourned meeting the Warrantholders present in person or
    by proxy shall form a quorum but it shall not be necessary to set forth the purposes for which the meeting was originally called
    or any other particulars. At the adjourned meeting the Warrantholders present in person or by proxy shall form a quorum and may transact
    the business for which the meeting was originally convened, and a resolution proposed at such adjourned meeting and passed by the
    requisite vote as provided in Section 7.11(a) shall be an Extraordinary Resolution within the meaning of this Indenture, notwithstanding
    that Warrantholders holding at least 10% of the aggregate number of then-outstanding Warrants are not present in person or by proxy
    at such adjourned meeting.
	 	 	 
	 	(c)	Subject
    to Section 7.14, votes on an Extraordinary Resolution shall always be given on a poll, and no demand for a poll on an Extraordinary
    Resolution shall be necessary.

 

7.12
Powers Cumulative.

 

Any
one or more of the powers or any combination of the powers in this Indenture stated to be exercisable by the Warrantholders by Extraordinary
Resolution or otherwise may be exercised from time to time, and the exercise of any one or more of such powers or any combination of
powers from time to time shall not be deemed to exhaust the right of the Warrantholders to exercise such power or powers or combination
of powers then or thereafter from time to time.

 

7.13
Minutes.

 

Minutes
of all resolutions and proceedings at every meeting of Warrantholders shall be made and duly entered in books to be provided from time
to time for that purpose by the Warrant Agent at the expense of the Corporation, and any such minutes as aforesaid, if signed by the
chairman or the secretary of the meeting at which such resolutions were passed or proceedings had shall be prima facie evidence of the
matters therein stated and, until the contrary is proved, every such meeting in respect of the proceedings of which minutes shall have
been made shall be deemed to have been duly convened and held, and all resolutions passed thereat or proceedings taken shall be deemed
to have been duly passed and taken.

 

7.14
Instruments in Writing.

 

All
actions that may be taken and all powers that may be exercised by the Warrantholders at a meeting held as provided in this Article 7
may also be taken and exercised by Warrantholders holding not less than 66 2/3% of the aggregate number of all of the then-outstanding
Warrants by an instrument in writing signed in one or more counterparts by such Warrantholders in person or by attorney duly appointed
in writing, and the expression “Extraordinary Resolution” when used in this Indenture shall include an instrument
so signed.

 

7.15
Binding Effect of Resolutions.

 

Every
resolution and every Extraordinary Resolution passed in accordance with the provisions of this Article 7 at a meeting of Warrantholders
shall be binding upon all the Warrantholders, whether present at or absent from such meeting, and every instrument in writing signed
by Warrantholders in accordance with Section 7.14 shall be binding upon all the Warrantholders, whether signatories thereto or not, and
each and every Warrantholder and the Warrant Agent (subject to the provisions for indemnity herein contained) shall be bound to give
effect accordingly to every such resolution and instrument in writing.

 

    	 

    	- 33 -

    

 

7.16
Holdings by Corporation Disregarded.

 

In
determining whether Warrantholders holding Warrants evidencing the required number of Warrants are present at a meeting of Warrantholders
for the purpose of determining a quorum or have concurred in any consent, waiver, Extraordinary Resolution, Warrantholders’ Request
or other action under this Indenture, Warrants owned legally or beneficially by the Corporation shall be disregarded in accordance with
the provisions of Section 10.7.

 

ARTICLE
8

SUPPLEMENTAL
INDENTURES

 

8.1
Provision for Supplemental Indentures for Certain Purposes.

 

From
time to time, the Corporation (when authorized by action of the directors) and the Warrant Agent may, subject to the provisions hereof,
and they shall, when so directed in accordance with the provisions hereof, execute and deliver by their proper officers, indentures or
instruments supplemental hereto, which thereafter shall form part hereof, for any one or more or all of the following purposes:

 

	 	(a)	setting
    forth any adjustments resulting from the application of the provisions of Article 4;
	 	 	 
	 	(b)	adding
    to the provisions hereof such additional covenants and enforcement provisions as, in the opinion of Counsel, are necessary or advisable
    in the premises, provided that the same are not in the opinion of the Warrant Agent, relying on the advice of Counsel, prejudicial
    to the interests of the Warrantholders;
	 	 	 
	 	(c)	giving
    effect to any Extraordinary Resolution passed as provided in Section 7.11;
	 	 	 
	 	(d)	making
    such provisions not inconsistent with this Indenture as may be necessary or desirable with respect to matters or questions arising
    hereunder or for the purpose of obtaining a listing or quotation of the Warrants on any stock exchange, provided that such provisions
    are not, in the opinion of the Warrant Agent, relying on the advice of Counsel, prejudicial to the interests of the Warrantholders;
	 	 	 
	 	(e)	adding
    to or altering the provisions hereof in respect of the transfer of Warrants, making provision for the exchange of Warrants, and making
    any modification in the form of the Warrant Certificates which does not affect the substance thereof;
	 	 	 
	 	(f)	modifying
    any of the provisions of this Indenture, including relieving the Corporation from any of the obligations, conditions or restrictions
    herein contained, provided that such modification or relief shall be or become operative or effective only if, in the opinion of
    the Warrant Agent, relying on the advice of Counsel, such modification or relief in no way prejudices any of the rights of the Warrantholders
    or of the Warrant Agent, and provided further that the Warrant Agent may in its sole discretion decline to enter into any such supplemental
    indenture which in its opinion may not afford adequate protection to the Warrant Agent when the same shall become operative;
	 	 	 
	 	(g)	providing
    for the issuance of additional Warrants hereunder, including Warrants in excess of the number set out in Section 2.1 and any consequential
    amendments hereto as may be required by the Warrant Agent relying on the advice of Counsel; and
	 	 	 
	 	(h)	for
    any other purpose not inconsistent with the terms of this Indenture, including the correction or rectification of any ambiguities,
    defective or inconsistent provisions, errors, mistakes or omissions herein, provided that in the opinion of the Warrant Agent, relying
    on the advice of Counsel, the rights of the Warrant Agent and of the Warrantholders are in no way prejudiced thereby.

 

    	 

    	- 34 -

    

 

8.2
Successor Entities.

 

In
the case of the consolidation, amalgamation, arrangement, merger or transfer of the undertaking or assets of the Corporation as an entirety
or substantially as an entirety to or with another entity (“successor entity”), the successor entity resulting from
such consolidation, amalgamation, arrangement, merger or transfer (if not the Corporation) shall expressly assume, by supplemental indenture
satisfactory in form to the Warrant Agent acting reasonably and executed and delivered to the Warrant Agent, the due and punctual performance
and observance of each and every covenant and condition of this Indenture to be performed and observed by the Corporation.

 

ARTICLE
9

CONCERNING
THE WARRANT AGENT

 

9.1
Indenture Legislation.

 

	 	(a)	If
    and to the extent that any provision of this Indenture limits, qualifies or conflicts with a mandatory requirement of Applicable
    Legislation, such mandatory requirement shall prevail.
	 	 	 
	 	(b)	The
    Corporation and the Warrant Agent agree that each will, at all times in relation to this Indenture and any action to be taken hereunder,
    observe and comply with and be entitled to the benefits of Applicable Legislation.

 

9.2
Rights and Duties of Warrant Agent.

 

	 	(a)	In
    the exercise of the rights and duties prescribed or conferred by the terms of this Indenture, the Warrant Agent shall act honestly
    and in good faith and exercise that degree of care, diligence and skill that a reasonably prudent warrant agent would exercise in
    comparable circumstances. No provision of this Indenture shall be construed to relieve the Warrant Agent from liability for its own
    gross negligent action, willful misconduct, bad faith or fraud.
	 	 	 
	 	(b)	The
    obligation of the Warrant Agent to commence or continue any act, action or proceeding for the purpose of enforcing any rights of
    the Warrant Agent or the Warrantholders hereunder shall be conditional upon the Warrantholders furnishing, when required by notice
    by the Warrant Agent, sufficient funds to commence or to continue such act, action or proceeding and an indemnity reasonably satisfactory
    to the Warrant Agent to protect and to hold harmless the Warrant Agent and its officers, directors, employees and agents, against
    the costs, charges and expenses and liabilities to be incurred thereby and any loss and damage it may suffer by reason thereof. None
    of the provisions contained in this Indenture shall require the Warrant Agent to expend or to risk its own funds or otherwise to
    incur financial liability in the performance of any of its duties or in the exercise of any of its rights or powers unless indemnified
    and funded as aforesaid.
	 	 	 
	 	(c)	The
    Warrant Agent may, before commencing or at any time during the continuance of any such act, action or proceeding, require the Warrantholders,
    at whose instance it is acting to deposit with the Warrant Agent the Warrant Certificates held by them, for which Warrants the Warrant
    Agent shall issue receipts.
	 	 	 
	 	(d)	Every
    provision of this Indenture that, by its terms, relieves the Warrant Agent of liability or entitles it to rely upon any evidence
    submitted to it is subject to the provisions of Applicable Legislation.

 

    	 

    	- 35 -

    

 

9.3
Evidence, Experts and Advisers.

 

	 	(a)	In
    addition to the reports, certificates, opinions and other evidence required by this Indenture, the Corporation shall furnish to the
    Warrant Agent such additional evidence of compliance with any provision hereof, and in such form, as may be prescribed by Applicable
    Legislation or as the Warrant Agent may reasonably require by written notice to the Corporation.
	 	 	 
	 	(b)	In
    the exercise of its rights and duties hereunder, the Warrant Agent may, if it is acting in good faith, rely as to the truth of the
    statements and the accuracy of the opinions expressed in statutory declarations, opinions, reports, written requests, consents, or
    orders of the Corporation, certificates of the Corporation or other evidence furnished to the Warrant Agent pursuant to a request
    of the Warrant Agent, provided that such evidence complies with Applicable Legislation and that the Warrant Agent complies with Applicable
    Legislation and that the Warrant Agent examines the same and determines that such evidence complies with the applicable requirements
    of this Indenture.
	 	 	 
	 	(c)	Whenever
    it is provided in this Indenture or under Applicable Legislation that the Corporation shall deposit with the Warrant Agent resolutions,
    certificates, reports, opinions, requests, orders or other documents, it is intended that the truth, accuracy and good faith on the
    effective date thereof and the facts and opinions stated in all such documents so deposited shall, in each and every such case, be
    conditions precedent to the right of the Corporation to have the Warrant Agent take the action to be based thereon.
	 	 	 
	 	(d)	The
    Warrant Agent may employ or retain such Counsel, accountants, appraisers or other experts or advisers as it may reasonably require
    for the purpose of discharging its duties hereunder and may pay reasonable remuneration for all services so performed by any of them,
    without taxation of costs of any Counsel, and shall not be responsible for any misconduct or gross negligence on the part of any
    such experts or advisers who have been appointed with due care by the Warrant Agent.
	 	 	 
	 	(e)	The
    Warrant Agent may act and rely and shall be protected in acting and relying in good faith on the opinion or advice of or information
    obtained from any Counsel, accountant, appraiser, engineer or other expert or adviser, whether retained or employed by the Corporation
    or by the Warrant Agent, in relation to any matter arising in the administration of the agency hereof.

 

9.4
Documents, Monies, etc. Held by Warrant Agent.

 

	 	(a)	Any
    monies, securities, documents of title or other instruments that may at any time be held by the Warrant Agent shall be placed in
    the deposit vaults of the Warrant Agent or of any Canadian chartered bank listed in Schedule I of the Bank Act (Canada), or
    deposited for safekeeping with any such bank. Any monies held pending the application or withdrawal thereof under any provisions
    of this Indenture, shall be held, invested and reinvested in “Permitted Investments” as directed in writing by the Corporation.
    “Permitted Investments” shall be treasury bills guaranteed by the Government of Canada having a term to maturity not
    to exceed ninety (90) days, or term deposits or bankers’ acceptances of a Canadian chartered bank having a term to maturity
    not to exceed ninety (90) days, or such other investments that is in accordance with the Warrant Agent’s standard type of investments.
    Unless otherwise specifically provided herein, all interest or other income received by the Warrant Agent in respect of such deposits
    and investments shall belong to the Corporation.
	 	 	 
	 	(b)	Any
    written direction for the investment or release of funds received shall be received by the Warrant Agent by 9:00 a.m. (Mountain Time)
    on the Business Day on which such investment or release is to be made, failing which such direction will be handled on a commercially
    reasonable efforts basis and may result in funds being invested or released on the next Business Day.
	 	 	 
	 	(c)	The
    Warrant Agent shall have no responsibility or liability for any diminution of any funds resulting from any investment made in accordance
    with this Indenture, including any losses on any investment liquidated prior to maturity in order to make a payment required hereunder.
	 	 	 
	 	(d)	In
    the event that the Warrant Agent does not receive a direction or only a partial direction, the Warrant Agent may hold cash balances
    constituting part or all of such monies and may, but need not, invest same in its deposit department, the deposit department of one
    of its affiliates, or the deposit department of a Canadian chartered bank; but the Warrant Agent, its affiliates or a Canadian chartered
    bank shall not be liable to account for any profit to any parties to this Indenture or to any other person or entity.

 

    	 

    	- 36 -

    

 

9.5
Actions by Warrant Agent to Protect Interest.

 

The
Warrant Agent shall have power to institute and to maintain such actions and proceedings as it may consider necessary or expedient to
preserve, protect or enforce its interests and the interests of the Warrantholders.

 

9.6
Warrant Agent Not Required to Give Security.

 

The
Warrant Agent shall not be required to give any bond or security in respect of the execution of the agency and powers of this Indenture
or otherwise in respect of the premises.

 

9.7
Protection of Warrant Agent.

 

By
way of supplement to the provisions of any law for the time being relating to the Warrant Agent, it is expressly declared and agreed
as follows:

 

	 	(a)	the
    Warrant Agent shall not be liable for or by reason of any statements of fact or recitals in this Indenture or in the Warrant Certificates
    (except the representation contained in Section 9.9 or in the Authentication of the Warrant Agent on the Warrant Certificates) or
    be required to verify the same, but all such statements or recitals are and shall be deemed to be made by the Corporation;
	 	 	 
	 	(b)	nothing
    herein contained shall impose any obligation on the Warrant Agent to see to or to require evidence of the registration or filing
    (or renewal thereof) of this Indenture or any instrument ancillary or supplemental hereto;
	 	 	 
	 	(c)	the
    Warrant Agent shall not be bound to give notice to any person or persons of the execution hereof;
	 	 	 
	 	(d)	the
    Warrant Agent shall not incur any liability or responsibility whatever or be in any way responsible for the consequence of any breach
    on the part of the Corporation of any of its covenants herein contained or of any acts of any directors, officers, employees, agents
    or servants of the Corporation;
	 	 	 
	 	(e)	the
    Corporation hereby indemnifies and agrees to hold harmless the Warrant Agent, its affiliates, their officers, directors, employees,
    agents, successors and assigns (the “Indemnified Parties”) from and against any and all liabilities whatsoever,
    losses, damages, penalties, claims, demands, actions, suits, proceedings, costs, charges, assessments, judgments, expenses and disbursements,
    including reasonable legal fees and disbursements of whatever kind and nature which may at any time be imposed on or incurred by
    or asserted against the Indemnified Parties, or any of them, whether at law or in equity, in any way caused by or arising, directly
    or indirectly, in respect of any act, deed, matter or thing whatsoever made, done, acquiesced in or omitted in or about or in relation
    to the execution of the Indemnified Parties’ duties, or any other services that Warrant Agent may provide in connection with
    or in any way relating to this Indenture. The Corporation agrees that its liability hereunder shall be absolute and unconditional
    regardless of the correctness of any representations of any third parties and regardless of any liability of third parties to the
    Indemnified Parties, and shall accrue and become enforceable without prior demand or any other precedent action or proceeding; provided
    that, notwithstanding any other provision of this Indenture, the Corporation shall not be required to hold harmless or indemnify
    the Indemnified Parties in the event of the gross negligence, bad faith, willful misconduct or fraud of the Warrant Agent or any
    Indemnified Party, and this provision shall survive the resignation or removal of the Warrant Agent or the termination or discharge
    of this Indenture; and

 

    	 

    	- 37 -

    

 

	 	(f)	notwithstanding
    the foregoing or any other provision of this Indenture, any liability of the Warrant Agent, other than arising as a result of the
    gross negligence, bad faith, willful misconduct or fraud of the Warrant Agent, shall be limited, in the aggregate, to the amount
    of annual retainer fees paid by the Corporation to the Warrant Agent under this Indenture in the twelve (12) months immediately prior
    to the Warrant Agent receiving the first notice of the claim. Notwithstanding any other provision of this Indenture, and whether
    such losses or damages are foreseeable or unforeseeable, the Warrant Agent shall not be liable under any circumstances whatsoever
    for any (a) breach by any other party of securities law or other rule of any securities regulatory authority, (b) lost profits or
    (c) special, indirect, incidental, consequential, exemplary, aggravated or punitive losses or damages.

 

9.8
Replacement of Warrant Agent; Successor by Merger.

 

	 	(a)	The
    Warrant Agent may resign its agency and be discharged from all further duties and liabilities hereunder, subject to this Section
    9.8, by giving to the Corporation not less than 60 days’ prior notice in writing or such shorter prior notice as the Corporation
    may accept as sufficient. The Warrantholders by Extraordinary Resolution shall have power at any time to remove the existing Warrant
    Agent and to appoint a new warrant agent. In the event of the Warrant Agent resigning or being removed as aforesaid or being dissolved,
    becoming bankrupt, going into liquidation or otherwise becoming incapable of acting hereunder, the Corporation shall forthwith appoint
    a new warrant agent unless a new warrant agent has already been appointed by the Warrantholders; failing such appointment by the
    Corporation, the retiring Warrant Agent or any Warrantholder may apply to a judge of the Province of Alberta on such notice as such
    judge may direct, for the appointment of a new warrant agent; but any new warrant agent so appointed by the Corporation or by the
    Court shall be subject to removal as aforesaid by the Warrantholders. Any new warrant agent appointed under any provision of this
    Section 9.8 shall be an entity authorized to carry on the business of a trust company in the Province of Alberta and, if required
    by the Applicable Legislation for any other provinces, in such other provinces. On any such appointment the new warrant agent shall
    be vested with the same powers, rights, duties and responsibilities as if it had been originally named herein as Warrant Agent hereunder.
	 	 	 
	 	(b)	Upon
    the appointment of a successor warrant agent, the Corporation shall promptly notify the Warrantholders thereof in the manner provided
    for in Section 10.2.
	 	 	 
	 	(c)	Any
    Warrant Certificates Authenticated but not delivered by a predecessor Warrant Agent may be Authenticated by the successor Warrant
    Agent in the name of the predecessor or successor Warrant Agent.
	 	 	 
	 	(d)	Any
    corporation into which the Warrant Agent may be merged or consolidated or amalgamated or to which all or substantially all of its
    business is sold, or any corporation resulting therefrom to which the Warrant Agent shall be a party, or any corporation succeeding
    to substantially the corporate trust business of the Warrant Agent shall be the successor to the Warrant Agent hereunder without
    any further act on its part or any of the parties hereto, provided that such corporation would be eligible for appointment as successor
    Warrant Agent under Section 9.8(a).

 

9.9
Conflict of Interest

 

The
Warrant Agent represents to the Corporation that at the time of execution and delivery hereof no material conflict of interest exists
between its role as a warrant agent hereunder and its role in any other capacity and agrees that in the event of a material conflict
of interest arising hereafter it will, within sixty (60) days after ascertaining that it has such material conflict of interest, either
eliminate the same or assign its agency hereunder to a successor Warrant Agent approved by the Corporation and meeting the requirements
set forth in Section 9.8(a)). Notwithstanding the foregoing provisions of this Section 9.9, if any such material conflict of interest
exists or hereafter shall exist, the validity and enforceability of this Indenture and the Warrant Certificate shall not be affected
in any manner whatsoever by reason thereof.

 

    	 

    	- 38 -

    

 

9.10
Acceptance of Agency

 

The
Warrant Agent hereby accepts the agency in this Indenture declared and provided for and agrees to perform the same upon the terms and
conditions herein set forth.

 

9.11
Warrant Agent Not to be Appointed Receiver.

 

The
Warrant Agent and any person related to the Warrant Agent shall not be appointed a receiver, a receiver and manager or liquidator of
all or any part of the assets or undertaking of the Corporation.

 

9.12
Authorization to Carry on Business

 

The
Warrant Agent represents to the Corporation that as at the date of the execution and delivery of this Indenture, it is duly authorized
and qualified to carry on the business of a trust company in the Province of Alberta.

 

9.13
Warrant Agent Not Required to Give Notice of Default.

 

The
Warrant Agent shall not be bound to give any notice or do or take any act, action or proceeding by virtue of the powers conferred on
it hereby unless and until it shall have been required so to do under the terms hereof; nor shall the Warrant Agent be required to take
notice of any default hereunder, unless and until notified in writing of such default, which notice shall distinctly specify the default
desired to be brought to the attention of the Warrant Agent and in the absence of any such notice the Warrant Agent may for all purposes
of this Indenture conclusively assume that no default has been made in the observance or performance of any of the representations, warranties,
covenants, agreements or conditions contained herein. Any such notice shall in no way limit any discretion herein given to the Warrant
Agent to determine whether or not the Warrant Agent shall take action with respect to any default.

 

9.14
Anti-Money Laundering.

 

	 	(a)	Each
    party to this Agreement (other than the Warrant Agent) hereby represents to the Warrant Agent that any account to be opened by, or
    interest to be held by, the Warrant Agent in connection with this Agreement, for or to the credit of such party, either: (i) is not
    intended to be used by or on behalf of any third party; or (ii) is intended to be used by or on behalf of a third party, in which
    case such party hereto agrees to complete and execute forthwith a declaration in the Warrant Agent’s prescribed form as to
    the particulars of such third party.
	 	 	 
	 	(b)	The
    Warrant Agent shall retain the right not to act and shall not be liable for refusing to act if, due to a lack of information or for
    any other reason whatsoever, the Warrant Agent, in its sole judgment, determines that such act might cause it to be in non-compliance
    with any applicable anti-money laundering, anti-terrorist or economic sanctions legislation, regulation or guideline. Further, should
    the Warrant Agent, in its sole judgment, determine at any time that its acting under this Agreement has resulted in its being in
    non-compliance with any applicable anti- money laundering, anti-terrorist or economic sanctions legislation, regulation or guideline,
    then it shall have the right to resign on ten (10) days written notice to the other parties to this Agreement, provided: (i) that
    the Warrant Agent’s written notice shall describe the circumstances of such non-compliance; and (ii) that if such circumstances
    are rectified to the Warrant Agent’s satisfaction within such ten (10) day period, then such resignation shall not be effective.

 

    	 

    	- 39 -

    

 

9.15
Compliance with Privacy Code.

 

The
parties acknowledge that the Warrant Agent may, in the course of providing services hereunder, collect or receive financial and other
personal information about such parties and/or their representatives, as individuals, or about other individuals related to the subject
matter hereof, and use such information for the following purposes:

 

	 	(a)	to
    provide the services required under this Indenture and other services that may be requested from time to time;
	 	 	 
	 	(b)	to
    help the Warrant Agent manage its servicing relationships with such individuals;
	 	 	 
	 	(c)	to
    meet the Warrant Agent’s legal and regulatory requirements; and
	 	 	 
	 	(d)	if
    Social Insurance Numbers are collected by the Warrant Agent, to perform tax reporting and to assist in verification of an individual’s
    identity for security purposes.

 

Each
party acknowledges and agrees that the Warrant Agent may receive, collect, use and disclose personal information provided to it or acquired
by it in the course of this Indenture for the purposes described above and, generally, in the manner and on the terms described in its
Privacy Code, which the Warrant Agent shall make available on its website or upon request, including revisions thereto. The Warrant Agent
may transfer personal information to other companies in or outside of Canada that provide data processing and storage or other support
in order to facilitate the services it provides.

 

Further,
each party agrees that it shall not provide or cause to be provided to the Warrant Agent any personal information relating to an individual
who is not a party to this Indenture unless that party has assured itself that such individual understands and has consented to the aforementioned
uses and disclosures.

 

9.16
Securities Exchange Commission Certification.

 

The
Corporation confirms that as at the date hereof it does not have a class of securities registered pursuant to Section 12 of the U.S.
Exchange Act or a reporting obligation pursuant to Section 15(d) of the U.S. Exchange Act.

 

The
Corporation covenants that in the event that (i) any class of its securities shall become registered pursuant to Section 12 of the U.S.
Exchange Act, (ii) the Corporation shall incur a reporting obligation pursuant to Section 15(d) of the U.S. Exchange Act, or (iii) any
such registration or reporting obligation shall be terminated by the Corporation in accordance with the U.S. Exchange Act, the Corporation
shall promptly deliver to the Warrant Agent an officers’ certificate notifying the Warrant Agent of such registration, reporting
obligation or termination, and such other information as the Warrant Agent may reasonably require at the time. The Corporation acknowledges
that the Warrant Agent is relying upon the foregoing representation and covenants in order to meet certain obligations of the Warrant
Agent with respect to those clients of the Warrant Agent that are required to file reports with the SEC under the U.S. Exchange Act.

 

    	 

    	- 40 -

    

 

ARTICLE
10

GENERAL

 

10.1
Notice to the Corporation and the Warrant Agent.

 

	 	(a)	Unless
    herein otherwise expressly provided, any notice to be given hereunder to the Corporation or the Warrant Agent shall be deemed to
    be validly given if delivered, sent by registered letter, postage prepaid or if emailed:

 

	 	(i)	If
    to the Corporation:
	 	 	 
	 	 	Leiio
    Wellness Ltd.
	 	 	c/o
    Nerland Lindsey LLP 1400, 350 – 7th Ave SW
	 	 	Calgary,
    AB T2P 3N9
	 	 	 
	 	 	Attention:
    Darcy Campbell 
	 	 	Email:
    darcy@leiio.com
	 	 	 
	 	(ii)	If
    to the Warrant Agent:
	 	 	 
	 	 	Odyssey
    Trust Company 1230, 300 5th Ave. SW
	 	 	Calgary,
    AB T2P 3C4
	 	 	Attention:
    Corporate Trust
	 	 	Email:
    corptrust@odysseytrust.com , dsander @odysseytrust.com

 

and
any such notice delivered in accordance with the foregoing shall be deemed to have been received and given on the date of delivery or,
if mailed, on the fifth Business Day following the date of mailing such notice or, if transmitted by electronic means, on the next Business
Day following the date of transmission.

 

	 	(b)	The
    Corporation or the Warrant Agent, as the case may be, may, from time to time, notify the other in the manner provided in Section
    10.1(a) of a change of address which, from the effective date of such notice and until changed by like notice, shall be the address
    of the Corporation or the Warrant Agent, as the case may be, for all purposes of this Indenture.
	 	 	 
	 	(c)	If,
    by reason of a strike, lockout or other work stoppage, actual or threatened, involving postal employees, any notice to be given to
    the Warrant Agent or to the Corporation hereunder could reasonably be considered unlikely to reach its destination, such notice shall
    be valid and effective only if it is delivered to the named officer of the party to which it is addressed, as provided in Section
    10.1(a), or given by electronic mean or other means of prepaid, transmitted and recorded communication.

 

    	 

    	- 41 -

    

 

10.2
Notice to Warrantholders.

 

	 	(a)	Unless
    otherwise provided herein, notice to the Warrantholders under the provisions of this Indenture shall be valid and effective if delivered
    or sent by ordinary prepaid post addressed to such holders at their post office addresses appearing on the register hereinbefore
    mentioned and shall be deemed to have been effectively received and given on the date of delivery or, if mailed, on the third Business
    Day following the date of mailing such notice. In the event that Warrants are held in the name of the Depository, a copy of such
    notice shall also be sent by electronic communication to the Depository and shall be deemed received and given on the day it is so
    sent.
	 	 	 
	 	(b)	If,
    by reason of a strike, lockout or other work stoppage, actual or threatened, involving postal employees, any notice to be given to
    the Warrantholders hereunder could reasonably be considered unlikely to reach its destination, such notice shall be valid and effective
    only if it is delivered to such Warrantholders to the address for such Warrantholders contained in the register maintained by the
    Warrant Agent or such notice may be given, at the Corporation’s expense, by means of publication in the Globe and Mail, National
    Edition, or any other English language daily newspaper or newspapers of general circulation in Canada, in each two successive weeks,
    the first such notice to be published within 5 Business Days of such event, and any so notice published shall be deemed to have been
    received and given on the latest date the publication takes place.
	 	 	 
	 	(c)	Accidental
    error or omission in giving notice or accidental failure to mail notice to any Warrantholder will not invalidate any action or proceeding
    founded thereon.

 

10.3
Ownership of Warrants.

 

The
Corporation and the Warrant Agent may deem and treat the Warrantholders as the absolute owner thereof for all purposes, and the Corporation
and the Warrant Agent shall not be affected by any notice or knowledge to the contrary, except where the Corporation or the Warrant Agent
is required to take notice by statute or by order of a court of competent jurisdiction. The receipt of any such Warrantholder of the
Common Shares which may be acquired pursuant thereto shall be a good discharge to the Corporation and the Warrant Agent for the same
and neither the Corporation nor the Warrant Agent shall be bound to inquire into the title of any such holder except where the Corporation
or the Warrant Agent is required to take notice by statute or by order of a court of competent jurisdiction.

 

10.4
Counterparts and Electronic Means.

 

This
Indenture may be executed in several counterparts, each of which when so executed shall be deemed to be an original, and such counterparts
together shall constitute one and the same instrument and, notwithstanding their date of execution, they shall be deemed to be dated
as of the date hereof. Delivery of an executed copy of this Indenture by facsimile, electronic transmission or other means of electronic
communication capable of producing a printed copy will be deemed to be execution and delivery of this Indenture as of the date hereof.

 

    	 

    	- 42 -

    

 

10.5
Satisfaction and Discharge of Indenture.

 

Upon
the earlier of:

 

	 	(a)	the
    date by which there shall have been delivered to the Warrant Agent for exercise or cancellation all Warrants theretofore Authenticated
    hereunder, in the case of Certificated Warrants (or such other instructions, in a form satisfactory to the Warrant Agent) or, in
    the case of Uncertificated Warrants, by way of standard processing through the book entry only system in the case of a CDS Global
    Warrant; and
	 	 	 
	 	(b)	the
    Expiry Time;

 

and
if all certificates or other entry on the register representing Common Shares required to be issued in compliance with the provisions
hereof have been issued and delivered hereunder or to the Warrant Agent in accordance with such provisions, this Indenture shall cease
to be of further effect, and the Warrant Agent, on demand of and at the cost and expense of the Corporation and upon delivery to the
Warrant Agent of a certificate of the Corporation stating that all conditions precedent to the satisfaction and discharge of this Indenture
have been complied with, shall execute proper instruments acknowledging satisfaction of and discharging this Indenture. Notwithstanding
the foregoing, the indemnities provided to the Warrant Agent by the Corporation hereunder shall remain in full force and effect and survive
the termination of this Indenture.

 

10.6
Provisions of Indenture and Warrants for the Sole Benefit of Parties and Warrantholders.

 

Nothing
in this Indenture or in the Warrants, expressed or implied, shall give or be construed to give to any person, other than the parties
hereto and the Warrantholders, as the case may be, any legal or equitable right, remedy or claim under this Indenture, or under any covenant
or provision herein or therein contained, all such covenants and provisions being for the sole benefit of the parties hereto and the
Warrantholders.

 

10.7
Warrants Owned by the Corporation - Certificate to be Provided.

 

For
the purpose of disregarding any Warrants owned legally or beneficially by the Corporation in Section 7.16, the Corporation shall provide
to the Warrant Agent, from time to time, a certificate of the Corporation setting forth as at the date of such certificate:

 

	 	(a)	the
    names (other than the name of the Corporation) of the Warrantholders which, to the knowledge of the Corporation, are owned by or
    held for the account of the Corporation; and
	 	 	 
	 	(b)	the
    number of Warrants owned legally or beneficially by the Corporation;

 

and
the Warrant Agent, in making the computations in Section 7.16, shall be entitled to rely on such certificate without any additional evidence.

 

    	 

    	- 43 -

    

 

10.8
Severability

 

If,
in any jurisdiction, any provision of this Indenture or its application to any party or circumstance is restricted, prohibited or unenforceable,
such provision will, as to such jurisdiction, be ineffective only to the extent of such restriction, prohibition or unenforceability
without (a) invalidating the remaining provisions of this Indenture, (b) affecting the validity or enforceability of such provision in
any other jurisdiction or (c) affecting its application to other parties or circumstances.

 

10.9
Force Majeure

 

No
party shall be liable to the other, or held in breach of this Indenture, if prevented, hindered, or delayed in the performance or observance
of any provision contained herein by reason of act of God, riots, terrorism, acts of war, epidemics, pandemics, governmental action or
judicial order, earthquakes, or any other similar causes (including, but not limited to, mechanical, electronic or communication interruptions,
disruptions or failures). Performance times under this Indenture shall be extended for a period of time equivalent to the time lost because
of any delay that is excusable under this Section.

 

10.10
Assignment, Successors and Assigns

 

Neither
of the parties hereto may assign its rights or interest under this Indenture, except as provided in (a) Section 9.8 in the case of the
Warrant Agent or (b) Section 8.2 in the case of the Corporation. Subject thereto, this Indenture shall enure to the benefit of and be
binding upon the parties hereto and their respective successors and permitted assigns.

 

10.11
Rights of Rescission and Withdrawal for Holders

 

Should
a holder of Warrants exercise any legal, statutory, contractual or other right of withdrawal or rescission that may be available to it,
and the holder’s funds which were paid on exercise have already been released to the Corporation by the Warrant Agent, the Warrant
Agent shall not be responsible for ensuring the exercise is cancelled and a refund is paid back to the holder. In such cases, the holder
shall seek a refund directly from the Corporation and subsequently, the Corporation, upon surrender to the Corporation or the Warrant
Agent of any underlying shares that may have been issued, or such other procedure as agreed to by the parties hereto, shall instruct
the Warrant Agent in writing, to cancel the exercise transaction and any such underlying shares on the register, which may have already
been issued upon the Warrant exercise. In the event that any payment is received from the Corporation by virtue of the holder being a
shareholder for such Warrants that were subsequently rescinded, such payment must be returned to the Corporation by such holder. The
Warrant Agent shall not be under any duty or obligation to take any steps to ensure or enforce that the funds are returned pursuant to
this section, nor shall the Warrant Agent be in any other way responsible in the event that any payment is not delivered or received
pursuant to this section. Notwithstanding the foregoing, in the event that the Corporation provides the refund to the Warrant Agent for
distribution to the holder, the Warrant Agent shall return such funds to the holder as soon as reasonably practicable, and, in so doing,
the Warrant Agent shall incur no liability with respect to the delivery or non-delivery of any such funds.

 

[Signature
Page Follows]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF the parties hereto have executed this Indenture under the hands of their proper officers in that behalf as of the
date first written above.

 

	 	LEIIO
    WELLNESS LTD.
	 	 	 
	 	By:	
	 	Name:	Darcy
    Campbell
	 	Title:	Chief
    Financial Officer
	 	 	 
	 	ODYSSEY
    TRUST COMPANY
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

IN
WITNESS WHEREOF the parties hereto have executed this Indenture under the hands of their proper officers in that behalf as of the
date first written above.

 

	 	LEIIO
    WELLNESS LTD.
	 	 	 
	 	By:	 
	 	Name:
    	 
	 	Title:	 
	 	 	 
	 	ODYSSEY
    TRUST COMPANY
	 	 	 
	 	By:	
	 	Name:	Dan
    Sander
	 	Title:	President,
    Corporate Trust
	 	 	 
	 	By:	
	 	Name:	Amy
    Douglas
	 	Title:	Director,
    Corporate Trust

 

    	 

    	A-1

    

 

SCHEDULE
“A”

 

FORM
OF WARRANT

 

THE
WARRANTS EVIDENCED HEREBY ARE EXERCISABLE ON OR BEFORE 5:00 P.M. (MOUNTAIN TIME) ON JULY 14, 2023, AFTER WHICH TIME THE WARRANTS EVIDENCED
HEREBY SHALL BE DEEMED TO BE VOID AND OF NO FURTHER FORCE OR EFFECT.

 

UNLESS
PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT TRADE THE SECURITY BEFORE THE DATE THAT IS 4 MONTHS AND
A DAY AFTER THE LATER OF: (A) JULY 14, 2021; AND (B) THE DATE THAT THE CORPORATION BECOMES A REPORTING ISSUER IN ANY PROVINCE OR TERRITORY
OF CANADA.”

 

For
all Warrants sold outside the United States and registered in the name of the Depository, also include the following legend:

 

(INSERT
IF BEING ISSUED TO CDS) UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF CDS CLEARING AND DEPOSITORY SERVICES
INC. (“CDS”) TO LEIIO WELLNESS LTD. (THE “ISSUER”) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE
OR PAYMENT, AND ANY CERTIFICATE ISSUED IN RESPECT THEREOF IS REGISTERED IN THE NAME OF CDS & CO., OR SUCH OTHER NAME AS IS REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF CDS (AND ANY PAYMENT IS MADE TO CDS & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF CDS), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED
HOLDER HEREOF, CDS & CO., HAS A PROPERTY INTEREST IN THE SECURITIES REPRESENTED BY THIS CERTIFICATE HEREIN, AND IT IS A VIOLATION
OF ITS RIGHTS FOR ANOTHER PERSON TO HOLD, TRANSFER OR DEAL WITH THIS CERTIFICATE.

 

For
Warrants originally issued for the benefit or account of a U.S. Warrantholder, and each Warrant Certificate issued in exchange therefor
or in substitution thereof, also include the following legends:

 

    	 

    	A-2

    

 

THE
SECURITIES REPRESENTED HEREBY AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OF THE
UNITED STATES. THE HOLDER HEREOF, BY PURCHASING OR OTHERWISE HOLDING SUCH SECURITIES, AGREES, FOR THE BENEFIT OF LEIIO WELLNESS LTD.
(THE “CORPORATION”), THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, DIRECTLY OR INDIRECTLY,
ONLY (A) TO THE CORPORATION; (B) OUTSIDE THE UNITED STATES IN ACCORDANCE WITH REGULATION S UNDER THE U.S. SECURITIES ACT AND IN COMPLIANCE
WITH APPLICABLE LOCAL LAWS AND REGULATIONS; (C) IN ACCORDANCE WITH THE EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT PROVIDED
BY RULE 144 THEREUNDER, IF AVAILABLE, AND IN COMPLIANCE WITH ANY APPLICABLE STATE SECURITIES LAWS; (D) IN COMPLIANCE WITH ANOTHER EXEMPTION
FROM REGISTRATION UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS, OR (E) UNDER AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE U.S. SECURITIES ACT, PROVIDED THAT IN THE CASE OF TRANSFERS PURSUANT TO (C) OR (D) ABOVE, THE SELLER FURNISHES TO THE CORPORATION
AND THE CORPORATION’S TRANSFER AGENT AN OPINION OF COUNSEL, OF RECOGNIZED STANDING, IN FORM AND SUBSTANCE REASONABLY SATISFACTORY
TO THE CORPORATION, TO SUCH EFFECT. THE PRESENCE OF THIS LEGEND MAY IMPAIR THE ABILITY OF THE HOLDER HEREOF TO EFFECT “GOOD DELIVERY”
OF THE SECURITIES REPRESENTED HEREBY ON A CANADIAN STOCK EXCHANGE.

 

THIS
WARRANTS EVIDENCED HEREBY AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OR
U.S. STATE SECURITIES LAWS. THIS WARRANT MAY NOT BE EXERCISED IN THE UNITED STATES OR BY OR ON BEHALF OF, OR FOR THE ACCOUNT OR BENEFIT
OF, A “U.S. PERSON” OR A PERSON IN THE UNITED STATES UNLESS THE WARRANT AND THE UNDERLYING SECURITIES HAVE BEEN REGISTERED
UNDER THE U.S. SECURITIES ACT AND THE APPLICABLE SECURITIES LAWS OF ANY SUCH STATE OR AN EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS
IS AVAILABLE. “UNITED STATES” AND “U.S. PERSON” ARE AS DEFINED BY REGULATION S UNDER THE U.S. SECURITIES ACT.

 

    	 

    	A-3

    

 

WARRANT

 

To
acquire Common Shares of Leiio Wellness Ltd.

 

(existing under the laws of the Province of Alberta)

 

	 Warrant
Certificate No._____________	 	Certificate for ______________ Warrants, each entitling the holder
    to acquire one (1) Common Share (subject to adjustment as provided for in the Warrant Indenture (as defined below)

 

THIS
IS TO CERTIFY THAT, for value received,

 

 

 

(the
“Warrantholder”) is the registered holder of the number of common share purchase warrants (the “Warrants”)
of LEIIO WELLNESS LTD. (the “Corporation”) specified above and is entitled, on exercise of these Warrants upon
and subject to the terms and conditions set forth herein and in the Warrant Indenture, to purchase at any time before 5:00 p.m. (Mountain
Time) (the “Expiry Time”) on July 14, 2023 (the “Expiry Date”), one fully paid and non-assessable
common share without par value in the capital of the Corporation as constituted on the date hereof (a “Common Share”)
for each Warrant subject to adjustment in accordance with the terms of the Warrant Indenture.

 

The
right to purchase Common Shares may only be exercised by the Warrantholder within the time set forth above by:

 

	 	(a)	duly
    completing and executing the exercise form (the “Exercise Form”) attached hereto; and
	 	 	 
	 	(b)	surrendering
    this warrant certificate (the “Warrant Certificate”), with the Exercise Form, to the Warrant Agent at the principal
    office of the Warrant Agent, in the city of Calgary, Alberta, together with a certified cheque, bank draft or money order in the
    lawful money of Canada payable to or to the order of the Corporation in an amount equal to the purchase price of the Common Shares
    so subscribed for.

 

The
surrender of this Warrant Certificate, the duly completed Exercise Form and payment as provided above will be deemed to have been effected
only on personal delivery thereof to, or if sent by mail or other means of transmission on actual receipt thereof by, the Warrant Agent
at its principal office as set out above.

 

Subject
to adjustment thereof in the events and in the manner set forth in the Warrant Indenture hereinafter referred to, the exercise price
payable for each Common Share upon the exercise of Warrants shall be $0.50 per Common Share (the “Exercise Price”).

 

    	 

    	A-4

    

 

Certificates
for the Common Shares subscribed for will be mailed to the persons specified in the Exercise Form at their respective addresses specified
therein or, if so specified in the Exercise Form, delivered to such persons at the office where this Warrant Certificate is surrendered.
If fewer Common Shares are purchased than the number that can be purchased pursuant to this Warrant Certificate, the holder hereof will
be entitled to receive without charge a new Warrant Certificate in respect of the balance of the Common Shares not so purchased. No fractional
Common Shares will be issued upon exercise of any Warrant and no cash or other consideration will be paid in lieu of fractional Common
Shares.

 

This
Warrant Certificate evidences Warrants of the Corporation issued or issuable under the provisions of a warrant indenture (which indenture
together with all other instruments supplemental or ancillary thereto is herein referred to as the “Warrant Indenture”)
dated as of July 14, 2021 between the Corporation and Odyssey Trust Company, as Warrant Agent, to which Warrant Indenture reference is
hereby made for particulars of the rights of the holders of Warrants, the Corporation and the Warrant Agent in respect thereof and the
terms and conditions on which the Warrants are issued and held, all to the same effect as if the provisions of the Warrant Indenture
were herein set forth, to all of which the holder, by acceptance hereof, assents. The Corporation will furnish to the holder, on request
and without charge, a copy of the Warrant Indenture.

 

On
presentation at the principal office of the Warrant Agent as set out above, subject to the provisions of the Warrant Indenture and on
compliance with the reasonable requirements of the Warrant Agent, one or more Warrant Certificates may be exchanged for one or more Warrant
Certificates representing the same number of Warrants as represented by the Warrant Certificate(s) so exchanged.

 

Neither
the Warrants nor the Common Shares issuable upon exercise hereof have been or will be registered under the United States Securities Act
of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States. The Warrants
may not be exercised by a person in the United States, a U.S. Person, a person exercising the Warrants for the account or benefit of
a U.S. Person or a person in the United States, or a person requesting delivery in the United States of the Common Shares issuable upon
such exercise unless (i) this Warrant and such Common Shares have been registered under the U.S. Securities Act and the applicable laws
of any such state, or (ii) an exemption from such registration requirements is available and the requirements set forth in the Exercise
Form have been satisfied. Certificates representing Common Shares issued in the United States or to U.S. Persons will bear a legend restricting
the transfer and exercise of such securities under applicable United States federal and state securities laws. “United States”
and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

 

The
Warrant Indenture contains provisions for the adjustment of the Exercise Price payable for each Common Share upon the exercise of Warrants
and the number of Common Shares issuable upon the exercise of Warrants in the events and in the manner set forth therein.

 

The
Warrant Indenture also contains provisions making binding on all holders of Warrants outstanding thereunder resolutions passed at meetings
of holders of Warrants held in accordance with the provisions of the Warrant Indenture and instruments in writing signed by Warrantholders
of Warrants entitled to purchase a specific majority of the Common Shares that can be purchased pursuant to such Warrants.

 

    	 

    	A-5

    

 

Nothing
contained in this Warrant Certificate, the Warrant Indenture or elsewhere shall be construed as conferring upon the holder hereof any
right or interest whatsoever as a holder of Common Shares or any other right or interest except as herein and in the Warrant Indenture
expressly provided. In the event of any discrepancy between anything contained in this Warrant Certificate and the terms and conditions
of the Warrant Indenture, the terms and conditions of the Warrant Indenture shall govern.

 

Warrants
may only be transferred in compliance with the conditions of the Warrant Indenture on the register to be kept by the Warrant Agent in
Calgary, Alberta, or such other registrar as the Corporation, with the approval of the Warrant Agent, may appoint at such other place
or places, if any, as may be designated, upon surrender of this Warrant Certificate to the Warrant Agent or other registrar accompanied
by a written instrument of transfer in form and execution satisfactory to the Warrant Agent or other registrar and upon compliance with
the conditions prescribed in the Warrant Indenture and with such reasonable requirements as the Warrant Agent or other registrar may
prescribe and upon the transfer being duly noted thereon by the Warrant Agent or other registrar. Time is of the essence hereof.

 

This
Warrant Certificate will not be valid for any purpose until it has been countersigned by or on behalf of the Warrant Agent from time
to time under the Warrant Indenture.

 

The
parties hereto have declared that they have required that these presents and all other documents related hereto be in the English language.
Les parties aux présentes déclarent qu’elles ont exigé que la présente convention, de même que
tous les documents s’y rapportant, soient rédigés en anglais.

 

[Signature
Page Follows]

 

    	 

    	A-6

    

 

IN
WITNESS WHEREOF the Corporation has caused this Warrant Certificate to be duly executed as of July 14, 2021.

 

	 	LEIIO
    WELLNESS LTD.
	 	 
	 	By:	 
	 	 	Authorized
    Signatory

 

	Countersigned
    by:	 
	 	 
	ODYSSEY
    TRUST COMPANY	 
	 	 
	By:	 	 
	 	Authorized
    Signatory	 

 

    	 

    	A-7

    

 

FORM
OF TRANSFER

 

ANY
TRANSFER OF WARRANTS WILL REQUIRE COMPLIANCE WITH APPLICABLE SECURITIES LEGISLATION. TRANSFERORS AND TRANSFEREES ARE URGED TO CONTACT
LEGAL COUNSEL BEFORE EFFECTING ANY SUCH TRANSFER

 

To:
Odyssey Trust Company

 

FOR
VALUE RECEIVED the undersigned hereby sells, assigns and transfers to

 

 

 

 

(print
name and address) the Warrants of LEIIO WELLNESS LTD. represented by this Warrant Certificate and hereby irrevocable
constitutes and appoints _________________________ as its attorney with full power of substitution to transfer the said securities
on the appropriate register of the Warrant Agent.

 

In
the case of a warrant certificate that contains a U.S. restrictive legend, or in the case of a Restricted Uncertificated Warrant that
is identified by a restricted CUSIP, the undersigned hereby represents, warrants and certifies that (one (only) of the following must
be checked):

 

	 	☐	(A) the
    transfer is being made to the Corporation;
	 	 	 
	 	☐ 	(B) the
    transfer is being made outside the United States in accordance with Regulation S under the U.S. Securities Act, and in compliance
    with any applicable local securities laws and regulations and the holder has provided herewith the Declaration for Removal of Legend
    attached as Schedule “C” to the Warrant Indenture, or
	 	 	 
	 	☐	(C) the
    transfer is being made within the United States or to, or for the account or benefit of, U.S. Persons, in accordance with a
    transaction that does not require registration under the U.S. Securities Act or any applicable state securities laws and the
    undersigned has furnished to the Corporation and the Warrant Agent an opinion of counsel of recognized standing in form and
    substance reasonably satisfactory to the Corporation to such effect.

 

In
the case of a Warrant Certificate that does not contain a U.S. restrictive legend, if the proposed transfer is to, or for the account
or benefit of a U.S. Person or to a person in the United States, the undersigned hereby represents, warrants and certifies that the transfer
of the Warrants is being completed pursuant to an exemption from the registration requirements of the U.S. Securities Act and any applicable
state securities laws, in which case the undersigned has furnished to the Corporation and the Warrant Agent an opinion of counsel of
recognized standing in form and substance reasonably satisfactory to the Corporation to such effect.

 

DATED
this _______ day of ________________, 20_____.

 

    	 

    	A-8

    

 

	SPACE
    FOR GUARANTEES OF	)	 	 
	SIGNATURES
    (BELOW)	)	 	 
	.	)	 	 
	 	)	 	Signature
    of Transferor
	 	)	 	 
	 	)	 	 
	Guarantor’s
    Signature/Stamp	)	 	Name
    of Transferor

 

REASON
FOR TRANSFER – For US Citizens or Residents only (where the individual(s) or corporation receiving the securities is a US citizen
or resident). Please select only one (see instructions below).

 

 

CERTAIN
REQUIREMENTS RELATING TO TRANSFERS – READ CAREFULLY

 

The
signature(s) of the transferor(s) must correspond with the name(s) as written upon the face of this certificate(s), in every particular,
without alteration or enlargement, or any change whatsoever. All securityholders or a legally authorized representative must sign this
form. The signature(s) on this form must be guaranteed in accordance with the transfer agent’s then-current guidelines and requirements
at the time of transfer. Notarized or witnessed signatures are not acceptable as guaranteed signatures. As at the time of closing, you
may choose one of the following methods (although subject to change in accordance with industry practice and standards):

 

	●	Canada
    and the USA: A Medallion Signature Guarantee obtained from a member of an acceptable Medallion Signature Guarantee Program (STAMP,
    SEMP, NYSE, MSP). Many commercial banks, savings banks, credit unions, and all broker dealers participate in a Medallion Signature
    Guarantee Program. The Guarantor must affix a stamp bearing the actual words “Medallion Guaranteed”, with the correct
    prefix covering the face value of the certificate.
	 	 
	●	Canada:
    A Medallion Signature Guarantee with the correct prefix covering the face value of the certificate.
	 	 
	●	Outside
    North America: For holders located outside North America, present the certificates(s) and/or document(s) that require a guarantee
    to a local financial institution that has a corresponding Canadian or American affiliate which is a member of an acceptable Medallion
    Signature Guarantee Program. The corresponding affiliate will arrange for the signature to be over-guaranteed.

 

    	 

    	A-9

    

 

OR

 

The
signature(s) of the transferor(s) must correspond with the name(s) as written upon the face of this certificate(s), in every particular,
without alteration or enlargement, or any change whatsoever. The signature(s) on this form must be guaranteed by a member of an acceptable
Medallion Signature Guarantee Program (STAMP, SEMP, NYSE, MSP). Notarized or witnessed signatures are not acceptable as guaranteed signatures.
The Guarantor must affix a stamp bearing the actual words: “SIGNATURE GUARANTEED”, “MEDALLION GUARANTEED” OR
“SIGNATURE & AUTHORITY TO SIGN GUARANTEE”, all in accordance with the transfer agent’s then current guidelines
and requirements at the time of transfer. For corporate holders, corporate signing resolutions, including certificate of incumbency,
will also be required to accompany the transfer with a “MEDALLION GUARANTEED” Stamp affixed to the Form of Transfer, with
the correct prefix covering the face value of the certificate.

 

REASON
FOR TRANSFER – FOR US CITIZENS OR RESIDENTS ONLY

 

Consistent
with U.S. IRS regulations, Odyssey Trust Company is required to request cost basis information from U.S. securityholders. Please indicate
the reason for requesting the transfer as well as the date of event relating to the reason. The event date is not the day in which the
transfer is finalized but, rather, the date of the event which led to the transfer request (i.e. date of gift, date of death of the securityholder,
or the date the private sale took place).

 

    	 

    	B-1

    

 

SCHEDULE
“B”

 

EXERCISE
FORM

 

	TO:	LEIIO
    WELLNESS LTD. (the “Corporation”)
	 	c/o
    Nerland Lindsey LLP 1400, 
	 	350 – 7th Ave SW
	 	Calgary,
    AB 
	 	T2P 3N9
	 	 
	AND
    TO:	ODYSSEY
    TRUST COMPANY (the “Warrant Agent”)
	 	1230,
    300 5th Ave. SW
	 	Calgary,
    AB
	 	 T2P 3C4

 

The
undersigned holder of the Warrants evidenced by this Warrant Certificate hereby exercises the right to acquire ____________ (A)
Common Shares of LEIIO WELLNESS LTD.

 

Exercise
Price Payable:_____________________________________________________________________________

((A)
multiplied by $0.50, subject to adjustment)

 

The
undersigned hereby exercises the right of such holder to be issued, and hereby subscribes for, Common Shares that are issuable pursuant
to the exercise of such Warrants on the terms specified in such Warrant Certificate and in the Warrant Indenture.

 

The
undersigned hereby acknowledges that the undersigned is aware that the Common Shares received on exercise may be subject to restrictions
on resale under applicable securities legislation.

 

Any
capitalized term in this Warrant Certificate that is not otherwise defined herein, shall have the meaning ascribed thereto in the Warrant
Indenture.

 

The
undersigned represents, warrants and certifies as follows (one (only) of the following must be checked):

 

☐   The
undersigned represents, warrants and certifies as follows (one (only) of the following must be checked):

 

	 	☐	(A) the
    undersigned holder at the time of exercise of the Warrants (i) is not present in the United States, (ii) is not a U.S. Person, (iii)
    is not exercising the Warrants on behalf of, or for the account or benefit of, a U.S. Person or a person in the United States, (iv)
    did not acquire the Warrants in the United States or on behalf of, or for the account or benefit of, a U.S. Person or a person in
    the United States; (v) did not receive an offer to exercise the Warrants in the United States; (vi) did not execute or deliver this
    exercise form in the United States; (vii) is not requesting delivery in the United States of the Common Shares issuable upon such
    exercise; and (viii) represents and warrants that the exercise of the Warrants and acquisition of the Warrant Shares occurred in an
    “offshore transaction” (as defined under Regulation S under the United States Securities Act of 1933, as amended (the
    “U.S.Securities Act”)); OR

 

    	 

    	B-2

    

 

	 	☐	(B) the
    undersigned holder

 

	 	(i)	is
    (1) present in the United States, (2) a U.S. Person, (3) a person exercising the Warrants for the account or benefit of a U.S. Person
    or a person in the United States, (4) executing or delivering this exercise form in the United States, or (5) requesting delivery
    in the United States of the Common Shares issuable upon such exercise, and
	 	 	 
	 	(ii)	is
    an Accredited Investor and has delivered to the Corporation and the Corporation’s transfer agent a completed and executed U.S.
    Warrantholder Letter in substantially the form attached to the Warrant Indenture as Schedule “D”;

 

_______OR

 

	 	☐	(C) the
    undersigned holder

 

	 	(i)	is
    (1) present in the United States, (2) a U.S. Person, (3) a person exercising the Warrants for the account or benefit of a U.S. Person
    or a person in the United States, or (4) requesting delivery in the United States of the Common Shares issuable upon such exercise,
    and
	 	 	 
	 	(ii)	the
    undersigned holder has an exemption from the registration requirements of the U.S. Securities Act and all applicable state securities
    laws available for the exercise of the Warrants, and has delivered to the Corporation and the Corporation’s transfer agent
    a written opinion of U.S. counsel, in form and substance reasonably satisfactory to the Corporation, or such other evidence reasonably
    satisfactory to the Corporation to that effect;

 

_______OR

  

	 	☐	(D) the
    undersigned holder is the original U.S. Purchaser and (a) purchased the Warrants directly from the Corporation pursuant to the terms
    and conditions of the Offering; (b) is exercising the Warrants solely for its own account or for the account of the original
    beneficial owner, if any; (c) each of it and any beneficial owner was on the date the Warrants were purchased from the Corporation,
    and is on the date of exercise of the Warrants, a “qualified institutional buyer” within the meaning of Rule 144A under
    the U.S. Securities Act; and (d) all the representations, warranties and covenants agreed upon or made by the Warrantholder during
    the purchase of Warrants from the Corporation continue to be true and correct as if duly executed as of the date
    thereof.

 

    	 

    	B-3

    

 

It
is understood that the Corporation and the Warrant Agent may require evidence to verify the foregoing representations.

 

The
undersigned holder understands that unless Box A or D above is checked, the certificate representing the Common Shares may be issued
in definitive physical certificated form and bear a legend restricting transfer without registration under the U.S. Securities Act and
applicable state securities laws unless an exemption from registration is available (as described in the Warrant Indenture and the subscription
documents). If Box C above is checked, holders are encouraged to consult with the Corporation in advance to determine that the legal
opinion tendered in connection with the exercise will be satisfactory in form and substance to the Corporation. “U.S. Person”
and “United States” are as defined under Regulation S under the U.S. Securities Act.

 

The
undersigned hereby acknowledges that the undersigned is aware that the Common Shares received on exercise may be subject to restrictions
on resale under applicable securities legislation. The undersigned hereby further acknowledges that the Corporation will rely upon the
confirmations, acknowledgements and agreements set forth herein, and agrees to notify the Corporation promptly in writing if any of the
representations or warranties herein ceases to be accurate or complete.

 

The
undersigned hereby irrevocably directs that the said Common Shares be issued, registered and delivered as follows:

 

	Name(s)
    in Full and Social Insurance Number(s) (if applicable) 	 	Address(es)	 	Number of Common

                                                                                Shares

	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

Please
print full name in which certificates representing the Common Shares are to be issued. If any Common Shares are to be issued to a person
or persons other than the registered holder, the registered holder must pay to the Warrant Agent all eligible transfer taxes or other
government charges, if any, and the Form of Transfer must be duly executed.

 

Once
completed and executed, this Exercise Form must be mailed or delivered to Odyssey Trust Company, 1230, 300 5th Ave SW, Calgary,
AB T2P 3C4, Attention: Corporate Trust.

 

DATED
this _______ day of ________________, 20 _______.

 

	 	)	 
	 	)	 
	 	)	 
	Witness	)	Signature
    of Warrantholder, to be the same as 
	 	)	appears
    on the face of this Warrant Certificate
	 	)	 
	 	)	 
	 	)	Name
    of Warrantholder

 

☐    Please check if the certificates representing the Common Shares are to be delivered at the office where this Warrant Certificate is surrendered,
failing which such certificates will be mailed to the address set out above. Certificates will be delivered or mailed as soon as practicable
after the surrender of this Warrant Certificate to the Warrant Agent.

 

    	 

    	C-1

    

 

SCHEDULE
“C”

 

FORM
OF DECLARATION FOR REMOVAL OF LEGEND

 

TO:
ODYSSEY TRUST COMPANY

 

as
registrar and transfer agent for the Warrants and Common Shares issuable upon exercise of the Warrants of LEIIO WELLNESS LTD. (the
“Corporation”).

 

The
undersigned (A) acknowledges that the sale of __________________ (the “Securities”) of the Corporation, to which
this declaration relates is being made in reliance on Rule 904 of Regulation S under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”), and (B) certifies that (1) the undersigned is not (a) an
“affiliate” of the Corporation (as that term is defined in Rule 405 under the U.S. Securities Act), except solely by
virtue of being an officer or director of the Corporation, (b) a “distributor” or (c) an affiliate of a distributor; (2)
the offer of such Securities was not made to a person in the United States and either (a) at the time the buy order was originated,
the buyer was outside the United States, or the seller and any person acting on its behalf reasonably believed that the buyer was
outside the United States, or (b) the transaction was executed on or through the facilities of the Toronto Stock Exchange, the TSX
Venture Exchange, the Canadian Securities Exchange or another “designated offshore securities market”, and neither the
seller nor any person acting on its behalf knows that the transaction has been prearranged with a buyer in the United States; (3)
none of the seller, any affiliate of the seller or any person acting on their behalf has engaged or will engage in any directed
selling efforts in the United States in connection with the offer and sale of such securities; (4) the sale is bona fide and not for
the purpose of “washing off” the resale restrictions imposed because the Securities are “restricted
securities” (as that term is defined in Rule 144(a)(3) under the U.S. Securities Act); (5) the seller does not intend to
replace such securities with fungible unrestricted securities; and (6) the contemplated sale is not a transaction, or part of a
series of transactions, which, although in technical compliance with Regulation S under the U.S. Securities Act, is part of a plan
or scheme to evade the registration provisions of the U.S. Securities Act. Terms used herein have the meanings given to them by
Regulation S under the U.S. Securities Act.

 

DATED
this ______ day of ___________________, 20 ____.

 

	 	X
	 	Signature
    of individual
    (if Seller is an individual)
	 	X
	 	Authorized signatory (if
    Seller is not an individual)
	 	 
	 	Name
    of Seller (please print)
	 	 
	 	Name
    of authorized signatory (please print)
	 	 
	 	Official
    capacity of authorized signatory (please print)

 

    	 

    	C-2

    

 

Affirmation
by Seller’s Broker-Dealer

(Required
for sales pursuant to Section (B)(2)(b) above)

 

We
have read the foregoing representations of our customer, ______________________(the “Seller”) with regard to the sale, for such Seller’s
account, of ______________________common shares (the “Shares”) of the Corporation. We have executed sales of the Securities pursuant to
Rule 904 of Regulation S under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), on
behalf of the Seller. In that connection, we hereby represent to you as follows:

 

	1.	no
    offer to sell the Shares was made to a person in the United States;
	 	 
	2.	the
    sale of the Shares was executed in, on or through the facilities of the Toronto Stock Exchange, the TSX Venture Exchange, the Canadian
    Securities Exchange or another designated offshore securities market (as defined in Rule 902(b) of Regulation S under the U.S. Securities
    Act), and, to the best of our knowledge, the sale was not pre-arranged with a buyer in the United States;
	 	 
	3.	no
    “directed selling efforts” were made in the United States by the undersigned, any affiliate of the undersigned, or any
    person acting on behalf of the undersigned; and
	 	 
	4.	we
    have done no more than execute the order or orders to sell the Shares as agent for the Seller and will receive no more than the usual
    and customary broker’s commission that would be received by a person executing such transaction as agent.

 

For
purposes of these representations: “affiliate” means a person that directly, or indirectly through one or more intermediaries,
controls, or is controlled by, or is under common control with, the undersigned; “directed selling efforts” means
any activity undertaken for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the
United States for the Shares (including, but not be limited to, the solicitation of offers to purchase the Shares from persons in the
United States); and “United States” means the United States of America, its territories or possessions, any State
of the United States, and the District of Columbia.

 

Legal
counsel to the Corporation shall be entitled to rely upon the representations, warranties and covenants contained herein to the same
extent as if this affirmation had been addressed to them.

 

	 	 	 
	 	Name
    of Firm	 
	 	 	 
	By:	 	 
	 	 	 
	 	Authorized
    Officer	 

 

DATED
____________________, 20 ______.

 

    	 

    	C-3

    

 

SCHEDULE
“D”

 

FORM
OF U.S. WARRANTHOLDER CERTIFICATION UPON EXERCISE OF WARRANTS

 

LEIIO
WELLNESS LTD. (the “Corporation”)

c/o
Nerland Lindsey LLP

1400,
350 – 7th Ave SW

Calgary,
AB

T2P
3N9

 

-
and to -

 

ODYSSEY
TRUST COMPANY 1230,

300
5th Ave SW

Calgary,
AB

T2P
3C4

 

as
Warrant Agent

 

Dear
Sirs:

 

The
undersigned is delivering this letter in connection with the purchase of common shares (the “Common Shares”) of the
Corporation, a corporation existing under the laws of the Province of Alberta (the “Corporation”) upon the exercise
of warrants of the Corporation (“Warrants”), issued under the warrant indenture, dated as of July 14, 2021 between
the Corporation and Odyssey Trust Company (which indenture together with all other instruments supplemental or ancillary thereto is herein
referred to as the “Warrant Indenture”). Any capitalized term in this letter that is not otherwise defined herein,
shall have the meaning ascribed thereto in the Warrant Indenture.

 

The
undersigned hereby represents and warrants to the Corporation that the undersigned, and each beneficial owner (each a “Beneficial
Owner”), if any, on whose behalf the undersigned is exercising such Warrants, satisfies one or more of the following categories
of accredited investor (please write “W/H” for the undersigned holder, and “B/O” for each beneficial owner,
if any, on each line that applies):

 

	 	(a)	____________ Any
    bank as defined in Section 3(a)(2) of the U.S.Securities Act of 1933, as amended (the “U.S. Securities Act”) or
    any savings and loan association or other institution as defined in Section 3(a)(5)(A) of the U.S. Securities Act whether acting in
    its individual or fiduciary capacity; any broker or dealer registered pursuant to Section 15 of the U.S. Securities Exchange Act of
    1934 or any insurance company as defined in Section 2(a)(13) of the U.S. Securities Act; any investment company registered under the
    U.S. Investment Company Act of 1940 or a business development company as defined in Section 2(a)(48) of that Act; any Small Business
    Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the U.S. Small Business
    Investment Act of 1958; any 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 US$5,000,000;
    any employee benefit plan within the meaning of the U.S. 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 US$5,000,000, or,
    if a self-directed plan, with investment decisions made solely by persons that are “accredited investors,” as such term
    is defined in Rule 501(a) of Regulation D of the U.S. Securities Act;

 

    	 

    	C-4

    

 

	 	(b)	____________ Any
    private business development company as defined in Section 202(a)(22) of the U.S. Investment Advisers Act of 1940;
	 	 	 
	 	(c)	____________ Any
    organization described in Section 501(c)(3) of the U.S. Internal Revenue Code, Corporation, Massachusetts or similar business trust,
    limited liability company or partnership, not formed for the specific purpose of acquiring the securities offered, with total assets
    in excess of US$5,000,000;
	 	 	 
	 	(d)	____________ Any
    trust with total assets in excess of US$5,000,000, not formed for the specific purpose of acquiring the securities offered, whose
    purchase is directed by a sophisticated person (being defined as a person who has such knowledge and experience in financial and
    business matters that he or she is capable of evaluating the merits and risks of the prospective investment);
	 	 	 
	 	(e)	____________ Any
    director, executive officer or general partner of the Corporation;
	 	 	 
	 	(f)	____________ A
    natural person whose individual net worth, or joint net worth with that person’s spouse, at the time of his or her purchase
    exceeds US$1,000,000 (for the purposes of calculating net worth: (i) the person’s primary residence shall not be included as
    an asset; (ii) indebtedness that is secured by the person’s primary residence, up to the estimated fair market value of the
    primary residence at the time of the sale and purchase of securities contemplated by the accompanying Warrant exercise form, shall
    not be included as a liability (except that if the amount of such indebtedness outstanding at the time of the sale and purchase of
    securities contemplated by the accompanying Warrant exercise form exceeds the amount outstanding 60 days before such time, other
    than as a result of the acquisition of the primary residence, the amount of such excess shall be included as a liability); and (iii)
    indebtedness that is secured by the person’s primary residence in excess of the estimated fair market value of the primary
    residence shall be included as a liability);
	 	 	 
	 	(g)	____________ Any
    natural person who had an individual income in excess of US$200,000 in each of the two most recent years or joint income with that
    person’s spouse in excess of US$300,000 in each of those years and has a reasonable expectation of reaching the same income
    level in the current year; or
	 	 	 
	 	(h)	____________ Any
    entity in which each of the equity owners meets the requirements of one of the above categories (if this alternative is checked,
    you must identify each equity owner and provide statements signed by each demonstrating how each qualifies as an accredited investor).

 

The
undersigned further represents and warrants to the Corporation that:

 

	1.	the
    undersigned has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks
    of an investment in the Common Shares, and the undersigned is able to bear the economic risk of loss of his or her entire investment;
	 	 
	2.	the
    undersigned is: (i) purchasing the Common Shares for his or her own account or for the account of one or more Accredited Investors
    with respect to which the undersigned is exercising sole investment discretion, and not on behalf of any other person; (ii) is purchasing
    the Common Shares for investment purposes only and not with a view to resale, distribution or other disposition in violation of United
    States federal or state securities laws; and (iii) in the case of the purchase by the undersigned of the Common Shares as agent or
    trustee for a Beneficial Owner, the undersigned holder has due and proper authority to act as agent or trustee for and on behalf
    of each such Beneficial Owner in connection with the transactions contemplated hereby; provided that: (x) if the undersigned
    holder, or any Beneficial Owner, is a corporation, a limited liability company or a partnership, syndicate, trust or other form of
    unincorporated organization, the undersigned holder or each such Beneficial Owner was not incorporated or created solely, nor is
    it being used primarily, to permit purchases without a prospectus or registration statement under applicable law; and (y) each Beneficial
    Owner, if any, is an Accredited Investor;

 

    	 

    	C-5

    

 

	3.	the
    undersigned has not exercised the Warrants as a result of any form of general solicitation or general advertising, including advertisements,
    articles, notices or other communications published in any newspaper, magazine or similar media or broadcast over radio, television,
    the Internet or other form of telecommunications, or any seminar or meeting whose attendees have been invited by general solicitation
    or general advertising;
	 	 
	4.	the
    funds representing the purchase price for the Common Shares, which will be advanced by the undersigned to the Corporation, will not
    represent proceeds of crime for the purposes of the United States Uniting and Strengthening America by Providing Appropriate Tools
    Required to Intercept and Obstruct Terrorism Act (the “PATRIOT Act”), and the undersigned acknowledges that the
    Corporation may in the future be required by law to disclose the undersigned’s name and other information relating to this
    exercise form and the undersigned’s subscription hereunder, on a confidential basis, pursuant to the PATRIOT Act. No portion
    of the purchase price to be provided by the undersigned (i) has been or will be derived from or related to any activity that is deemed
    criminal under the laws of the United States of America, or any other jurisdiction, or (ii) is being tendered on behalf of a person
    or entity who has not been identified to or by the undersigned, and the undersigned shall promptly notify the Corporation if the
    undersigned discovers that any of such representations ceases to be true and provide the Corporation with appropriate information
    in connection therewith;

 

The
undersigned also acknowledges and agrees that:

 

	5.	the
    Corporation has provided to the undersigned the opportunity to ask questions and receive answers concerning the terms and conditions
    of the offering, and the undersigned has had access to such information concerning the Corporation as he or she has considered necessary
    or appropriate in connection with his or her investment decision to acquire the Common Shares;
	 	 
	6.	if
    the undersigned decides to offer, sell or otherwise transfer any of the Common Shares, the undersigned must not, and will not, offer,
    sell or otherwise transfer any of such Common Shares directly or indirectly, unless:

 

	 	(a)	the
    sale is to the Corporation;
	 	 	 
	 	(b)	the
    sale is made outside the United States in a transaction meeting the requirements Regulation S under the U.S. Securities Act and in
    compliance with applicable local laws and regulations;
	 	 	 
	 	(c)	the
    sale is made pursuant to the exemption from the registration requirements under the U.S. Securities Act provided by Rule 144 thereunder,
    if available, and in accordance with any applicable state securities or “blue sky” laws; or
	 	 	 
	 	(d)	the
    Common Shares are sold in another transaction that does not require registration under the U.S. Securities Act or any applicable
    state laws and regulations governing the offer and sale of securities, and it has prior to such sale furnished to the Corporation
    an opinion of counsel reasonably satisfactory to the Corporation;

 

	7.	the
    Common Shares are “restricted securities” (as defined in Rule 144(a)(3) under the U.S. Securities Act) and that the U.S.
    Securities Act and the rules of the United States Securities and Exchange Commission provide in substance that the undersigned may
    dispose of the Common Shares only pursuant to an effective registration statement under the U.S. Securities Act or an exemption or
    exclusion therefrom;
	 	 
	8.	the
    Corporation has no obligation to register any of the Common Shares or to take any other action so as to permit sales pursuant to
    the U.S. Securities Act (including Rule 144 thereunder);

 

    	 

    	C-6

    

 

	9.	the
    certificates representing the Common Shares as well as all certificates issued in exchange for or in substitution of therefor, until
    such time as is no longer required under the applicable requirements of the U.S. Securities Act and applicable state securities laws,
    will bear, on the face of such certificate, restrictive legend substantially in the form set forth in Section 3.3(c) of the Warrant
    Indenture; provided that if the Common Shares are being sold outside the United States in compliance with the requirements of Rule
    904 of Regulation S and the Corporation was a “foreign issuer” (as defined in Rule 902 of Regulation S) at the time of
    execution and delivery of this exercise form, such restrictive legend may be removed by providing a declaration to the registrar
    and transfer agent of the Corporation, substantially in the form annexed to the Warrant Indenture as Schedule “C” thereto
    (or in such other form as the Corporation may prescribe from time to time) and, if requested by the Corporation or transfer agent,
    an opinion of counsel, of recognized standing, in form and substance satisfactory to the Corporation to the effect that the transfer
    is in compliance with Rule 904; and provided, further, that, if any Common Shares are being sold otherwise than in accordance with
    Regulation S and other than to the Corporation, the legend may be removed by delivery to the registrar and transfer agent and the
    Corporation of an opinion of counsel, of recognized standing reasonably satisfactory to the Corporation, that such legend is no longer
    required under applicable requirements of the U.S. Securities Act or state securities laws;
	 	 
	10.	the
    financial statements of the Corporation have been prepared in accordance with International Financial Reporting Standards as issued
    by the International Accounting Standards Board, which differ in some respects from United States generally accepted accounting principles
    and, thus, may not be comparable to financial statements of United States companies;
	 	 
	11.	there
    may be material tax consequences to the undersigned of an acquisition or disposition of the Common Shares, and the Corporation gives
    no opinion and makes no representation with respect to the tax consequences to the undersigned under United States, state, local
    or foreign tax law of the undersigned’s acquisition or disposition of such securities; in particular, no determination has
    been made whether the Corporation will be a “passive foreign investment company” (commonly known as a “PFIC”)
    within the meaning of Section 1297 of the United States Internal Revenue Code;
	 	 
	12.	it
    consents to the Corporation making a notation on its records or giving instructions to any transfer agent of the Corporation in order
    to implement the restrictions on transfer set forth and described in this Warrant Exercise Form; and
	 	 
	13.	it
    acknowledges and consents to the fact that the Corporation is collecting personal information (as that term is defined under applicable
    privacy legislation, including, without limitation, the Personal Information Protection and Electronic Documents Act (Canada) and
    any other applicable similar, replacement or supplemental provincial or federal legislation or laws in effect from time to time)
    of the undersigned for the purpose of facilitating the subscription for the Common Shares hereunder. The undersigned acknowledges
    and consents to the Corporation retaining such personal information for as long as permitted or required by law or business practices
    and agrees and acknowledges that the Corporation may use and disclose such personal information: (a) for internal use with respect
    to managing the relationships between and contractual obligations of the Corporation and the undersigned; (b) for use and disclosure
    for income tax-related purposes, including without limitation, where required by law disclosure to Canada Revenue Agency; (c) disclosure
    to professional advisers of the Corporation in connection with the performance of their professional services; (d) disclosure to
    securities regulatory authorities and other regulatory bodies with jurisdiction with respect to reports of trade or similar regulatory
    filings; (e) disclosure to a governmental or other authority to which the disclosure is required by court order or subpoena compelling
    such disclosure and where there is no reasonable alternative to such disclosure; (f) disclosure to any person where such disclosure
    is necessary for legitimate business reasons and is made with your prior written consent; (g) disclosure to a court determining the
    rights of the parties under this Agreement; and (h) for use and disclosure as otherwise required or permitted by law.

 

    	 

    	C-7

    

 

We
acknowledge that you will rely upon our confirmations, acknowledgements and agreements set forth herein, and we agree to notify you promptly
in writing if any of our representations or warranties herein ceases to be accurate or complete.

 

DATED
_______________________, 20 ______.

 

	 	 
	 	Name
    of U.S. Warrantholder (please print) 
	 	X
	 	Signature
    of individual (if U.S. Warrantholder is an individual)
	 	X
	 	Authorized
    signatory (if U.S. Warrantholder is not an individual)
	 	 
	 	Name
    of authorized signatory (please print)
	 	 
	 	Official
    capacity of authorized signatory (please print)Exhibit
10.3

 

ASSIGNMENT
OF LEASE

 

THIS
ASSIGNMENT OF LEASE (the “Agreement”) made as of December 21, 2021

 

BETWEEN:

 

INDVR
BRANDS, INC.

(the “Assignor”)

 

-
and -

 

FIRST
PERSON LTD.

(the “Assignee”)

 

RECITALS:

 

	A.	By
    lease dated February 8, 2021(the “Lease”) a copy of which is attached hereto as Schedule “A”, 444-5th
    Ave GP Inc., as general partner for and on behalf of 444-5th Ave SW Limited Partnership (the “Landlord”)
    leased to the Assignor, as tenant, certain premises (the “Premises”) located in the building municipally known as 444
    – 5th Avenue SW, Calgary Alberta (the “Building”), containing approximately 2,885 square feet as shown
    in Schedule B of the Lease and as described in the Lease, for and during the term of 3 years commencing on September 1, 2021 and
    expiring on August 31, 2024.
	 	 
	B.	The
    Assignor has agreed to assign all of its right, title, interest, benefit and estate in the Lease to the Assignee.
	 	 
	C.	The
    Assignee has agreed to accept and assume the assignment of the Lease and all of the rights and obligations of the Assignor under
    the Lease as and from January 1, 2022 (the “Effective Date”).

 

NOW
THEREFORE in consideration of the sum of TEN ($10.00) DOLLARS and other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged by each of the parties, the parties hereto agree as follows:

 

	1.	The
    Assignor hereby sells, conveys, grants, transfers, assigns and sets over absolutely to the Assignee, its successors and assigns,
    all of the Assignor’s right, title, interest, benefit and estate in and to the Lease and all other rights, benefits and advantages
    whatsoever to be derived therefrom from and after the Effective Date.
	 	 
	2.	From
    and including the Effective Date, the Assignee agrees to assume all of the covenants and obligations of the Assignor in relation
    to the Lease and agrees it shall observe and perform all of the terms, covenants, conditions and agreements given by, imposed on
    or required to be observed and performed by the Assignor in connection with the Lease.
	 	 
	3.	The
    Assignor warrants that the Lease is in full force and effect as at the Effective Date, that there are no existing defaults thereunder,
    that it has the full right and authority to assign the Lease and that it has not previously assigned the Lease.
	 	 
	4.	The
    Assignor hereby indemnifies and holds harmless the Assignee in respect of all rents and other payments under the Lease and in respect
    of all debts, actions, causes of action, claims, demands and obligations arising under the Lease and in respect of the occupancy
    of the Premises by the Assignor which have arisen or accrued prior to the Effective Date.

 

    	 

    	- 2 -

    

 

	5.	The
    Assignee hereby indemnifies and holds harmless the Assignor in respect of all rents and other payments under the Lease and in respect
    of all debts, actions, causes of action, claims, demands and obligations arising under the Lease and in respect of the occupancy
    of the Premises by the Assignee, or any subtenant thereof, which have arisen or accrued from and including the Effective Date.
	 	 
	6.	From
    and including the Effective Date, the Assignee agrees to and shall indemnify the Assignor from and against any and all claims, demands,
    awards, actions and proceedings whatsoever, by whomever made, brought or prosecuted and from and against any and all losses, costs,
    damages or expenses of any kind whatsoever, including solicitors’ fees and disbursements on a solicitor and own client basis,
    to which the Assignor is subjected arising out of or in any way related to the breach, default or non-observance or non-performance
    of any provision required to be observed or performed by the Assignor under the Lease.
	 	 
	7.	The
    Assignor shall from time to time, at the request and cost of the Assignee, execute and deliver to the Assignee such further assurances
    as may be reasonably required by the Assignee for the better assigning to the Assignee of the Lease. The Assignee shall from time
    to time, at the request and cost of the Assignor, execute and deliver to the Assignor such further assurances in respect of the assumption
    and performance of obligations by the Assignee as may be reasonably required by the Assignor for the better assigning to the Assignee
    of the Lease.
	 	 
	8.	This
    Agreement shall be binding upon and enure to the benefit of the parties hereto and their respective successors and assigns.
	 	 
	9.	This
    Agreement shall be governed by and construed in accordance with the laws of the Province of Alberta and the laws of Canada applicable
    therein.
	 	 
	10.	This
    Agreement may be executed in any number of counterparts, with the same effect as if all the parties had signed the same document
    and will become effective once a signed counterpart is delivered by each of the parties to the other. This Agreement shall be deemed
    to be executed under seal by all parties even if a party fails to apply its seal.
	 	 
	11.	This
    Agreement may be executed by a party and delivered by facsimile transmission or electronic mail in PDF format and if so executed
    and transmitted this Agreement will be for all purposes effective as if the parties had delivered and executed the original Agreement.

 

    	 

    	-3 -

    

 

IN
WITNESS WHEREOF the Assignor and the Assignee have executed this Agreement as of the year and day first above written.

 

	 	INDVR
    BRANDS, INC.
	 	 	 
	 	Per:	/s/
    Hugh Hempel
	 	Name:
    	Hugh
    Hempel
	 	Title:
    	CEO
	 	 	 
	 	Per:
    	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	FIRST
    PERSON INC.
	 	 	 
	 	Per:
    	/s/
    Darcy Campbell
	 	Name:
    	Darcy
    Campbell
	 	Title:
    	CFO
	 	 	 
	 	Per:	 
	 	Name:	 
	 	Title:	 

 

    	 

    	 

    

 

SCHEDULE
“A” Lease

 

(Attached)

 

    	 

    	 

    

 

444
- 5th Avenue Office Lease Form

 

444-5TH
AVE GP INC.,

as
general partner for and on behalf of

444-STH
AVE SW LIMITED PARTNERSHIP

 

(Landlord)

 

-and-

 

INDVR
BRANDS, INC.

 

(Tenant)

 

 

 

OFFICE
LEASE

 

 

 

Building:
444 – 5th Avenue SW, Calgary, Alberta

 

    	 

    	 

    

 

444
- 5th Avenue Office Lease Form

 

444-5TH
AVE GP INC.,

as
general partner for and on behalf of

444-STH
AVE SW LIMITED PARTNERSHIP

 

(Landlord)

 

-and-

 

INDVR
BRANDS, INC.

 

(Tenant)

 

 

 

OFFICE
LEASE

 

 

 

Building:
444 – 5th Avenue SW, Calgary, Alberta

 

    	 

    	 

    

 

CONTENTS

 

	Section	 	Page
	 	 	 
	1.	BASIC
    TERMS	1
	2.	DEFINITIONS	1
	3.	BASIC
    RENT	2
	4.	ADDITIONAL
    RENT	2
	5.	OCCUPANCY
    COSTS	3
	6.	SECURITY
    DEPOSIT	3
	7.	PRE-AUTHORIZED
    DEBIT	3
	8.	EARLY
    OCCUPANCY AND FIXTURING PERIOD	3
	9.	DELAYED
    POSSESSION	3
	10.	BOMA
    STANDARD	3
	11.	GRANT	4
	12.	QUIET
    ENJOYMENT	4
	13.	USE	4
	14.	PROHIBITED
    USE	4
	15.	CONTROL
    OF THE DEVELOPMENT BY LANDLORD	4
	16.	OPERATION
    OF BUILDING	5
	17.	SERVICES
    TO PREMISES	5
	18.	NORMAL
    BUSINESS HOURS	5
	19.	BUILDING
    SERVICES	5
	20.	MAINTENANCE,
    REPAIR AND REPLACEMENT	6
	21.	ADDITIONAL
    SERVICES	6
	22.	ALTERATIONS
    BY THE LANDLORD	6
	23.	ACCESS
    BY THE LANDLORD	6
	24.	ALTERATIONS	6
	25.	TENANT’S
    INSURANCE	6
	26.	FORM
    OF TENANT POLICIES	7
	27.	INSURANCE
    RISKS	8
	28.	PLACEMENT
    OF THE TENANT’S INSURANCE BY THE LANDLORD	8
	29.	INDEMNITY
    BY THE TENANT	8
	30.	RELEASE
    OF THE LANDLORD	8
	31.	SUBLETTING
    AND ASSIGNMENT	9
	32.	LANDLORD’S
    RULES	9
	33.	HAZARDOUS
    SUBSTANCES	9
	34.	DEFECTS
    IN UTILITIES	9
	35.	SURRENDER	9
	36.	DAMAGE
    TO PREMISES	9
	37.	REDEVELOPMENT
    AND DEMOLITION	10
	38.	EARLY
    TERMINATION	10
	39.	TENANT
    DEFAULT	10
	40.	LIEN
    ON THE TENANTS GOODS AND EQUIPMENT	11
	41.	PAYMENTS	11
	42.	OVER
    HOLDING	11
	43.	NAME
    OF BUILDING	12
	44.	REGISTRATIONS	12
	45.	ACKNOWLEDGEMENTS	12
	46.	SIGNS
    AND ADVERTISING	12
	47.	RELOCATION	12
	48.	TENANT’S
    REPAIRS	13
	49.	CONDITION
    OF PREMISES	13
	50.	INSPECTION	13
	51.	NOTICES	13
	52.	NET
    LEASE	13
	53.	SET-OFF	13
	54.	LIMITATION
    OF RECOURSE	13
	55.	EFFECT
    OF SALE OF ASSIGNMENT	14
	56.	SUBORDINATION	14
	57.	ATTORNMENT	14
	58.	SURVIVAL
    OF COVENANTS AND INDEMNITIES	14
	59.	COUNTERPARTS
    AND ELECTRONIC DELIVERY	14
	60.	INDEPENDENT
    LEGAL ADVICE	14
	61.	LIABILITY:
    JOINT/SEVERAL	14

 

	SCHEDULES	 
	 	 
	SCHEDULE
    A - Floor Plan	 
	SCHEDULE
    B - Legal Description	 
	SCHEDULE
    C - Determination of Occupancy Costs	 
	SCHEDULE
    D - Landlord Rules and Regulations	 
	SCHEDULE
    E - Additional Provisions	 
	SCHEDULE
    F - Landlord’s Work	 
	SCHEDULE
    G - Base Building Work	 

  

    	 

    	 

    

 

OFFICE
LEASE

 

This
lease dated as of February 8, 2021 (the “Lease”), is made and entered into by the Landlord and Tenant named below
who agree as follows:

 

	1.	BASIC
  TERMS

 

	 	(a)	Landlord:	 	144-5TH
    AVE GP INC.,
	 	 	 	 	as
    general partner for and on behalf of
	 	 	 	 	444-5TH
    AVE SW LIMITED PARTNERSHIP
	 	 	 	 	 
	 	 	 	Address:	c/o
    Aspen Property Management Limited
	 	 	 	 	Partnership
	 	 	 	 	1800,
    140 – 4th Avenue SW
	 	 	 	 	Calgary,
    Alberta T2P 3N3
	 	 	 	 	Telephone:
    403.216.2660
	 	 	 	 	 
	 	 	 	Building
    Address:	444
    – 5th Avenue SW
	 	 	 	 	Calgary,
    Alberta T2P 2T8
	 	 	 	 	INDVR
    BRANDS, INC.

 

	 	(b)	Tenant:	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	Address:	1840,
    444 – 5th Avenue SW
	 	 	 	 	Calgary,
    Alberta T2P 2T8
	 	 	 	 	 
	 	 	 	Telephone:	587.890.8400
	 	 	 	 	 
	 	 	 	Email:	jmann@indvr-brands.com

 

	 	(c)	Indemnifier:	Not
    Applicable
	 	 	 	 
	 	(d)	Rentable
    Area of the Premises:	2,885
    square feet
	 	 	 	 
	 	(e)	Premises:	Suite
    1840 as show for illustrative purposes on the attached Schedule A
	 	 	 	 
	 	(f)	Term:	3
    Years

 

	 	(ii)	Commencement
    Date:	September
    1, 2021
	 	 	 	 
	 	(iii)	Expiry
    Date:	August
    31, 2024

 

	 	(g)	Gross
    Rent:

 

	 	 	Period	Per
    Sq. Ft. of Rentable Area Per Year

 

	 	September
    1, 2021 to August 31, 2024	$19.00

 

	 	(h)	Security
    Deposit:	$9,538.62

 

	 	(i)	$4,769.31
    (inclusive of GST), to be applied against first months’ Gross Rent as it comes due;
	 	 	 
	 	(ii)	$4,769.31
    (inclusive of GST), to be held as security for the Tenant’s obligation under the lease.

 

	 	(i)	Operating
    Name of Business (if different from the legal name):	Not
    Applicable

 

	 	(j)	Fixturing
    Period:	April
    1, 2021 to August 31, 2021

 

	2.	DEFINITIONS

 

	 	(a)	“Building
    Systems” means al any time: (i) all heating, ventilating and air-conditioning and other climate control systems and other systems,
    services, installations and facilities installed in or servicing the Building including without limitation, the following systems,
    services, installations and facilities: elevators and escalators, mechanical (including plumbing, sprinkler, drainage and sewage),
    electrical and other utilities, lighting, sprinkler, life safety (including fire prevention, communications, security and surveillance),
    computer (including environmental, security and lighting control), ice and snow melting, refuse removal, window washing and music,
    (ii) all machinery, appliances, equipment, apparatus, components, computer software and appurtenances forming part of or used for
    or in connection with any of such systems, services, installations and facilities including, but not limited to, boilers, motors,
    generators, fans, pumps, pipes, conduits, ducts, valves, wiring, meters and controls, and the structures and shafts housing and enclosing
    any of them, and (iii) all Landlord owned or controlled telecommunications facilities, installations and equipment

 

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	 	(b)	“Common
    Areas” means those areas, facilities, improvements, installations and equipment in or around or adjacent to the Building and
    the Land existing from time to time that are neither rented nor designated nor intended by the Landlord to be rented and are provided
    or designated from time to time by the Landlord for in common use by the Landlord, the Tenant and other tenants of the Building,
    their agents employees customers, invitees or licensees, for which the Landlord directly or indirectly is subject to obligations
    in its capacity as owner of the Building or an interest in it, and any of the foregoing Facilities that are shared with any other
    building as determined by the Landlord in its sole discretion, all as may be designated by the Landlord from time to time and as
    may be altered, expanded, reduced, reconstructed or relocated from time to time.
	 	 	 
	 	(c)	“Development”
    means the Lands and the Building. “Land” means those lands located in the City of Calgary, in the Province of Alberta,
    and having a legal description as set out in Schedule B (or for such part as may be designated by the Landlord from time to time)
    as altered, expanded or reduced from time to time. The Landlord has at all times exclusive control of the Development and its management
    and operation.
	 	 	 
	 	(d)	“GST”
    means the goods and services tax payable under the Excise Tax Act (Canada)
	 	 	 
	 	(e)	“Hazardous
    Substance” means:

 

	 	(i)	any
    material or substance declared or deemed to be hazardous, deleterious. caustic, dangerous, a dangerous good, toxic, a contaminant,
    a waste, a source of a contaminant, a pollutant or toxic under any Environmental Law and includes, without limitation, polychlorinated
    biphenyl and urea-formaldehyde;

 

	 	(f)	“Required
    Conditions” means that:

 

	 	(i)	the
    Tenant is the originally named Tenant, or a Permitted Transferee and in either case has not undergone a Change of Control and is
    itself in occupation of and carrying on business from the whole of the Premises; and
	 	 	 
	 	(ii)	the
    Tenant has paid all Rent when due and there have not been the occurrence of 3 or more Events of Default and there is not then an
    existing Event of Default that remains unremedied beyond the applicable curative period other than an Event of Default described
    in section 38 which is by its nature incurable.

 

	 	(g)	“Transfer”
    means all or any of the following, whether by conveyance, written agreement or otherwise (i) an assignment of this Lease in whole
    or in part; (ii) a sublease of all or any part of the Premises; (iii) the sharing or transfer of any right of use or occupancy of
    all or any part of the Premises and; (iv) any mortgage, charge or encumbrance of this Lease or the Premises or any part of the Premises
    or other arrangement under which either this Lease or the Premises become security for any indebtedness or other obligation, and
    includes any transaction or occurrence whatsoever (including, but not limited to, expropriation, receivership proceedings, seizure
    by legal process and transfer by operation of law), which has changed or might change the identity of the Person having use or occupancy
    of any part of the Premises

 

	3.	GROSS
    RENT
	 	 
	 	The
    Tenant shall pay to the Landlord as Gross Rent from and after the Commencement Date and throughout the Term in the amount per square
    foot of Rentable Area of the Premises as per section 1.1(g) (the “Gross Rent”) payable in equal monthly instalments in
    advance on the 1st day of each month during the Term.
	 	 
	4.	ADDITIONAL
    RENT
	 	 
	 	“Additional
    Rent’ means all amounts in addition to Gross Rent payable to the Landlord or any other Person under this Lease, other than
    GST. The Tenant shall also pay throughout the Term, at the times and in the manner provided in this Lease, all Additional Rent which
    shall, except as otherwise provided in this Lease, be payable within 30 clays of receipt by the Tenant of an invoice, statement or
    demand for it. “Rent” means the aggregate of all amounts payable by the Tenant to the Landlord under this Lease.

 

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	5.	OCCUPANCY
    COSTS
	 	 
	 	Intentionally
    deleted.
	 	 
	6.	SECURITY
    DEPOSIT
	 	 
	 	The
    Tenant agrees to deposit with the Landlord on the execution of this Lease, a security deposit, as set forth, in section 1.1 (h).
    to be held by the Landlord, until such time as the observance and performance of the terms and conditions of this Lease, the Landlord
    may appropriate the security deposit, or as much of it as of or in connection with the Tenant’s breach.
	 	 
	7.	PRE-AUTHORIZED
    DEBIT
	 	 
	 	The
    Tenant shall make payments of Rent for such period as the Landlord may request by way of a pre-authorized debit payment system, by
    way of wire transfer or post dated cheques. The Tenant shall pay all any and all fees and other charges in connection with the pre-authorized
    debit or wire transfer contemplated by this section including any charges or fees resulting from insufficient funds in the Tenant’s
    account and a late charge and administration fee of S250.00. If the Tenant changes its financial institution upon which such pre-authorized
    debits are drawn, the Tenant shall send a notice to the Landlord at least 30 days prior to the date such change is to take place
    and provide the landlord with a new pre-authorized debit authorization form for the Tenant’s new financial institution. The
    Tenant acknowledges and agrees that the Tenant shall remain responsible for all payments of Rent even if the Tenant’s bank
    account is incorrectly debited or not debited for any reason whatsoever including an error by the Tenant’s financial institution.
	 	 
	8.	EARLY
    OCCUPANCY AND FIXTURING PERIOD
	 	 
	 	The
    Tenant shall be permitted by the Landlord to occupy the Premises prior to the Commencement Date for the period of time as ser forth
    in section 1.1(j) (the “Fixturing Period”) commencing on the date the Landlord’s Work is substantially complete
    and the Landlord provides vacant possession of the Premises to the Tenant for the purpose of allowing the Tenant to commence the
    Tenant’s Work and conduct its business. The Tenant’s right to commence occupancy of the Premises during the Fixturing
    Period shall be conditional on (a) the Tenant having executed his Lease in the form approved by the Landlord, (b) the Tenant having
    provided evidence of insurance showing compliance with the insurance requirements of this Lease: and (c) no Event of Default existing
    that remains uncured beyond the applicable curative period, if any. During the Fixturing Period, the Tenant will not be required
    to pay Gross Rent, however, all other terms and conditions of this Lease shall apply. At the beginning of the Fixturing Period the
    Tenant will begin and thereafter diligently perform and complete the Tenant’s Work The Tenant shall pay for all electricity,
    water, heat, security, refuse removal and other utilities and services furnished to the Tenant or its contractors by the Landlord
    or its contractors during the Fixturing Period promptly upon being billed therefor.
	 	 
	 	Notwithstanding
    the above. the Tenant may be granted possession of the Premises prior to April 7, 2021 subject to full execution of this Lease by
    both the landlord and Tenant, payment of the Security Deposit to the Landlord and the Tenant having provided proof of insurance to
    the Landlord
	 	 
	9.	DELAYED
    POSSESSION
	 	 
	 	If
    the landlord is delayed in delivering possession of all or any portion of the Premises to the Tenant on or before the Commencement
    Date, then unless such delay is principally caused by or attributable to the Tenant, its servants, agents or independent contractors.
    then the date on which the Premises are to be made available to the Tenant, the Commencement Date and the obligation of the Tenant
    to pay Gross Rent shall be postponed for a period equal to the duration of the delay. This Lease shall not be void or voidable nor
    shall the Landlord be liable to the Tenant for any loss or damage resulting from any delay in delivering possession of the Premises
    to the Tenant, and the deferment of the obligation of the Tenant to pay Gross Rent shall be accepted by the Tenant as full compensation
    for any such delay
	 	 
	 	If
    any delay in the completion of Landlord’s Work is attributable to the Tenant, its servants, agents or independent contractors,
    the obligation of the Tenant to pay Gross Rent shall not be deferred and the time period for completion of Landlord’s Work
    (but not the Expiry Date) shall be extended for a reasonable period which shall not in any event be less than a period corresponding
    to such delay.
	 	 
	10.	BOMA
    STANDARD
	 	 
	 	BOMA
    Standard means the American National Standard Method for Measuring Floor Area in Office Buildings (ANSI/BOMA Z65.1-1996), as such
    standard may be amended or replaced from time to time by the Building Owners and Managers Association International (“BOMA”)
    or a successor organization to BOMA and as such standard may be further amended by the Landlord in measuring floor areas of the Building.
    “Rentable Area” of the Premises, the Building or any portion thereof means such area measured in accordance with BOMA
    Standard. For the purposes of this Lease, the Premises is not subject to remeasurement throughout the Term.

 

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	11.	GRANT
	 	 
	 	The
    Landlord hereby leases to the Tenant the Premises, for the purpose of maintaining an office for the term hereinafter set forth and
    subject to the terms and conditions of this Lease.
	 	 
	12.	QUIET
    ENJOYMENT
	 	 
	 	The
    Landlord covenants to provide the Tenant with quiet enjoyment and possession of the Premises during the Term, subject to the terms
    and conditions of this Lease.
	 	 
	13.	USE
	 	 
	 	The
    Premises shall be used and occupied by the Tenant only as business offices for the business of the Tenant as initially conducted
    in the Premises and for no other purpose or for such other purposes as the Landlord may specifically authorize in writing. The Tenant
    shall not be required to occupy the Premises continuously throughout the Term, and any such vacancy of the Premises shall not be
    considered a default under this Lease. provided that the Tenant is paying and continues to pay all Rent.
	 	 
	14.	PROHIBITED
    USE
	 	 
	 	The
    Tenant will not at any time during the term of this Lease, use, exercise or carry on, or permit or suffer to be used, exercised or
    carried on, in or upon the Premises, or any part thereof any noxious, noisome or offensive act, occupation, trade, business or calling.
    No act, matter or thing whatsoever shall at any time during the term of this Lease be done to or on the Premises, or any part thereof
    which shall or may be done to the annoyance, a nuisance, grievance, damage, or to the disturbance of other Tenants of the Landlord
    or the occupier or owners of any adjoining Premises, which may conflict with the laws relating to fires, or the regulations of the
    Board of Health or with any Statute or Municipal By-law. It is agreed by the Landlord that the present business carried on by the
    Tenant is not in contravention or in violation of this paragraph.
	 	 
	15.	CONTROL
    OF THE DEVELOPMENT BY LANDLORD
	 	 
	 	The
    Landlord has at all times exclusive control of the Development and its management and operation. Without limiting the generality
    of the foregoing, at any time and from time to time, the Landlord may

 

	 	(h)	make
    repairs, replacements, changes or additions to the Structural Elements, Building Systems, and other systems, facilities and equipment
    in the Building (including the Premises) where necessary to serve the Premises or other parts of the Building;
	 	 	 
	 	(i)	make
    changes or additions to any part of the Building not in or forming part of the Premises including, without limitation, dedicating
    or conveying portions of the Land, granting easements, rights-of-way, restrictive covenants or other interests in the Land and constructing
    additional improvements in or adjoining the Land;
	 	 	 
	 	(j)	terminate
    or amend the Tenant’s right of use of any of the Common Areas, change the location and size of any of the Common Areas or use
    parts of the Common Areas for promotional or other activities;
	 	 	 
	 	(k)	retain
    contractors and employ all personnel, including supervisory personnel and managers, that the Landlord considers necessary for the
    effective maintenance, repair, operation, management and control of the Building;
	 	 	 
	 	(l)	prescribe
    the times, the area, means and designated routes through the Common Areas for the delivery and shipping of merchandise, supplies,
    fixtures, and other materials or goods of whatsoever nature to or from the Premises and all loading, unloading, and handling thereof,
    and
	 	 	 
	 	(m)	do
    and perform such other acts in and to the Building or any of its component parts as the Landlord considers reasonable for the proper
    and efficient maintenance, repair, operation, management and control of the Building.

 

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Notwithstanding
anything else to the contrary in this Lease or at law, in the course of the Landlord’s exercise of its rights hereunder. the Landlord
shall be deemed not to have re-entered the Premises nor to have breached any obligation of this Lease nor have any liability to the Tenant
and the Tenant shall not be entitled to any compensation or a reduction or abatement of Rent. The Landlord shall perform all of its work
as expeditiously as is reasonably possible so as to interfere as little as is reasonably possible with the Tenant’s use of the
Premises

 

	16.	OPERATION
    OF BUILDING
	 	 
	 	During
    the Term the landlord shall operate and maintain the Building in accordance with standards from time to time prevailing for office
    buildings of a similar age and quality in the area in which the Building is located and, subject to payment by the Tenant of the
    Tenant’s share of Occupancy Costs, the Landlord shall provide the services set out in sections 17 and 19.
	 	 
	17.	SERVICES
    TO PREMISES
	 	 
	 	The
    Landlord shall arrange for the provision of:

 

	 	(a)	heat,
    ventilation and air conditioning (included in building standard) as required for the comfortable use and occupancy of the Premises
    during Normal Business Hours;
	 	 	 
	 	(b)	Janitor
    services, including window washing, as reasonably required to keep the Premises in a clean and wholesome condition;
	 	 	 
	 	(c)	electric
    power for normal lighting and small business office equipment (but not equipment using amounts of power disproportionate to that
    used by other tenants in the Building);
	 	 	 
	 	(d)	replacement
    of building standard fluorescent tubes, light bulbs and ballasts as required from time to time at the Tenant’s sole cost as
    a result of normal usage; and
	 	 	 
	 	(e)	maintenance,
    repair, and replacement as set out in section 20.

 

	18.	NORMAL
    BUSINESS HOURS
	 	 
	 	Except
    as otherwise specifically provided in this Lease or by written notice from the Landlord to the Tenant, Normal Business Hours Days
    (“Business Day” means a day that is not a Saturday, Sunday or a holiday in the province where the Land is situated) for
    the Building shall be from 6:00 a.m. to 6:00 p.m. Monday through Friday excluding days which are not Business Days.
	 	 
	19.	BUILDING
    SERVICES
	 	 
		The
    Landlord shall provide in the Building: 

 

	 	(a)	domestic
    hot and cold (or temperate) running water and necessary supplies in washrooms sufficient for the normal use thereof by occupants
    in the Building;
	 	 	 
	 	(b)	elevator
    or escalator service for access to and egress from the Premises;
	 	 	 
	 	(c)	heat,
    ventilation, air conditioning, lighting, electric power, domestic hot and cold (or temperate) running water, and janitor service
    in the Common Areas;
	 	 	 
	 	(d)	a
    general directory board on which the Tenant shall be entitled to have its name shown. but the landlord shall have exclusive control
    thereof and of the area thereon to be allocated to each tenant; and
	 	 	 
	 	(e)	maintenance,
    repair, and replacement as set out in section 20.

 

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	20.	MAINTENANCE,
    REPAIR AND REPLACEMENT

 

The
Landlord shall operate, maintain, repair and replace the systems, facilities and equipment necessary for the proper operation of the
Building and for provision of the Landlord’s services under sections 17 and 19 (except such as may be installed by or be the property
of the Tenant), and shall be responsible for and shall expeditiously maintain and repair the foundations, structure and roof of the Building
provided that:

 

	 	(a)	if
    all or part of such systems, facilities and equipment are destroyed, damaged or impaired, the Landlord shall have a reasonable time
    in which to complete the necessary repair or replacement, and during that time shall be required only to maintain such services as
    are reasonably possible in the circumstances;
	 	 	 
	 	(b)	the
    Landlord may temporarily discontinue such services or any of them at such times as may be necessary due to causes beyond the reasonable
    control of the Landlord;
	 	 	 
	 	(c)	the
    Landlord shall use reasonable diligence in carrying out its obligations under this section 20, but shall not be liable under any
    circumstances for any consequential damage to any Person or property for any failure to do so;
	 	 	 
	 	(d)	no
    reduction or discontinuance of such services under this section 20 (a) or (b) shall be construed as an eviction of the Tenant or
    (except as specifically provided in this Lease) release the Tenant from any obligation of the Tenant under this Lease; and

 

	21.	ADDITIONAL
    SERVICES

 

The
Tenant shall pay to the Landlord the costs of all services provided by the Landlord to the Tenant (plus an administrative charge of 15%
of such costs), other than services supplied by the Landlord and charged as Occupancy Costs. Such services shall include services performed
at the Tenant’s request or otherwise provided for herein including, without limitation·(a) the provision of processed air,
electricity and other utilities and services outside of Normal Business Hours or of a special nature or in excess quantities; (b) replacement
of non-standard electric light fixtures, ballasts, tubes, starters, lamps, light bulbs and controls; (c) special janitorial or cleaning
services; (d) operating elevators for the sole benefit of the Tenant and supervising the movement of furniture, equipment, freight and
supplies for the Tenant; and (e) construction of any Leasehold Improvements or other work performed at the request of or on behalf of
the Tenant. The Tenant shall pay for such services within 30 days of receipt of an invoice for any such service.

 

	22.	ALTERATIONS
    BY THE LANDLORD

 

The
Landlord may from time to time:

 

	 	(a)	make
    repairs, replacements, changes or additions to the structure, systems, facilities and equipment in the Premises where necessary to
    serve the Premises or other parts of the Building;
	 	 	 
	 	(b)	make
    changes in or additions to any part of the Building not in or forming part of the Premises; and
	 	 	 
	 	(c)	change
    or alter the location of Common Areas;

 

provided
that in doing so the Landlord shall not disturb or interfere with the Tenant’s use of the Premises and operation of its business
any more than is reasonably necessary in the circumstances and shall repair any damage to the Premises caused thereby.

 

	23.	ACCESS
    BY THE LANDLORD

 

The
Tenant shall permit the Landlord to enter the Premises at any time outside of Normal Business Hours and during Normal Business Hours
at any time in case of an emergency or where no emergency exists at any time where such entry will not unreasonably disturb or interfere
with the Tenants use of the Premises and operation of its business, to examine, inspect, and show the Premises to persons wishing to
lease them, to provide services or make repairs, replacements, changes or alterations as set out in this Lease, and to take such steps,
as the Landlord may deem necessary for the safety, improvement or preservation of the Premises or the Development. The Landlord shall
whenever possible consult with or give reasonable notice to the Tenant prior to such entry. but no such entry shall constitute an eviction
or entitle the Tenant to any abatement of Rent.

 

	24.	ALTERATIONS

 

The
Tenant will not during the said term make or suffer any alterations. decorations or additions to be made to the Premises without first
receiving the written permission of the Landlord. All alterations, decorations or additions which may be made by the Tenant pursuant
to such written permission of the Landlord shall be made at the sole expense of the fixtures of the Premises shall became the property
of the Landlord. The Tenant may remove any equipment, or chattels installed by it on the termination of the Lease.

 

	25.	TENANT’S
    INSURANCE

 

During
the Term, the Tenant shall take out and maintain at its own expense:

 

	 	(a)	“all
    risks” property insurance, including the Perils of Flood and Earthquake. In amounts sufficient to fully cover the improvements
    of the Premises and all property in the Premises which is not owned by the Landlord on a full replacement cost basis,

 

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	 	(b)	commercial
    general liability insurance, with the Landlord, its manager and mortgagee, if any, named as an additional insured, against claims
    for death, personal injury and property damage in or about the Premises, in amounts which are from time to time carried by a prudent
    Tenant in the community in which the Development is located, but in any event with a minimum combined single limit of $5,000,000;
	 	 	 
	 	(c)	if
    applicable, comprehensive form boiler and machinery insurance on a blanket repair and replacement basis with limits for each accident
    in an amount not less than the full replacement cost of all Leasehold Improvements and all property in the Premises not owned by
    the Landlord;
	 	 	 
	 	(d)	business
    interruption insurance for a minimum period of 24 months in an amount that will reimburse the Tenant for direct or indirect loss
    of earnings attributable to all perils insured against in Sections 25(a) and 25(b) or attributable to prevention of access to the
    Premises or the Building as a result of any such perils, including extra expense insurance if applicable;
	 	 	 
	 	(e)	the
    Tenant’s legal liability insurance for the actual cash value of the Premises from any damage howsoever caused: and
	 	 	 
	 	(f)	any
    other form of insurance that the Tenant, or the Landlord, acting reasonably, requires in amounts and for insurance risks against
    which a prudent Tenant would insure.

 

Policies
for property and general liability insurance shall be in a form and with an insurer reasonably acceptable to the Landlord, shall require
at least thirty (30) days written notice to the Landlord of termination or material alteration of the policy during the Term and shall
waive any right of subrogation against the Landlord, its manager and mortgagee, and cause the Landlord, its manager and mortgagee and
any other party the Landlord so requests to be named as an insured in such policies of insurance. If requested by the Landlord, the Tenant
shall from time to time promptly deliver to the Landlord, certified copies or other evidence of such policies, and evidence satisfactory
to the Landlord that all premiums thereon have been paid and the policies are in full force and effect.

 

	26.	FORM
    OF TENANT POLICIES

 

	 	(a)	With
    respect to the form of the Tenant’s insurance policies in Section 25:

 

	 	(i)	each
    policy shall be in a form and with an insurer reasonably acceptable to the Landlord and shall require at least thirty days written
    notice to the Landlord of termination or material alteration of the policy during the Term;
	 	 	 
	 	(ii)	the
    insurance described in Section 25(a) and any other property damage insurance shall include, as additional named insureds (but without
    liability for premiums) as its interests may appear the Landlord, any Mortgagee and other Persons with an interest in the Development
    from time to time designated in writing by the Landlord;
	 	 	 
	 	 	(iii)
    the insurance described in Section 25(b) shall include as additional named insureds (but without liability for premiums) the Landlord,
    any Mortgagee, any other Persons with an interest in the Development from time to time designated in writing by the Landlord and
    any property manager or facilities manager retained by the Landlord in respect of the Development;
	 	 	 
	 	(iv)	contain
    a standard mortgage clause if required by a Mortgagee;
	 	 	 
	 	(v)	all
    property damage and liability insurance shall contain provisions for cross liability and severability of interests among the Landlord,
    the other insureds and the Tenant;
	 	 	 
	 	(vi)	all
    property damage insurance (including boiler and machinery insurance) shall contain a waiver of any rights of subrogation which the
    insurer may have against the Landlord and those for whom the Landlord is in law responsible whether the damage is caused by the act,
    omission or negligence of the Landlord or such other Persons; and
	 	 	 
	 	(vii)	shall
    contain a provision that the Tenant’s insurance shall be primary and shall not call into contribution any other insurance available
    to the Landlord.

 

	 	(b)	If
    requested by the Landlord, the Tenant shall from time to time promptly deliver to the Landlord, certified copies or other evidence
    of such policies, and evidence satisfactory to the Landlord that all premiums thereon have been paid and the policies are in full
    force and effect

 

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	27.	INSURANCE
    RISKS

 

The
Tenant shall not do, omit to do, or permit to be done or omitted to be done upon the Premises or any other portion of the Development
anything that may contravene or be prohibited by any of the Landlord’s insurance policies in force from time to time covering or
relevant to any part of the Development or which would prevent the Landlord from procuring such policies with companies acceptable to
the Landlord. If the occupancy of the Premises, the conduct of business in the Premises or any acts or omissions of the Tenant in the
Premises or any other portion of the Development causes or results in any increase in premiums for any of the Landlord’s insurance
policies, then, without limiting any other rights or remedies of the Landlord, the Tenant shall pay any such increase as Additional Rent
forthwith upon receipt of the invoices of the Landlord for such additional premiums. A written report by an Expert concerning the cause
of any increase in premiums will be accepted as conclusive evidence of the cause for the purposes of determining the Tenant’s liability
to pay for increases as Additional Rent.

 

	28.	PLACEMENT
    OF THE TENANTS INSURANCE BY THE LANDLORD

 

If
the Tenant falls to take out, renew or keep in force any of the policies of insurance required to be taken out and maintained by the
Tenant under section 25, the Landlord may do so as agent of the Tenant and the Tenant shall reimburse the Landlord any amount so paid
by the Landlord as agent of the Tenant promptly upon demand by the Landlord.

 

	29.	INDEMNITY
    BY THE TENANT

 

The
Tenant shall indemnify and hold harmless the Landlord from and against every demand. claim, cause of action, judgment and expense (including
legal fees and disbursements on a solicitor and own Tenant basis), and all losses and damage arising from any injury or damage to the
person or property of the Tenant, any other Tenant in the Development or to any other Person rightfully in the Building, where the injury
or damage is caused by negligence or misconduct of the Tenant, its agents, servants or employees, or of any other person entering upon
the Premises under express or implied invitation of the Tenant, or results from the violation of laws or ordinances, governmental orders
of any kind or of the provisions of this Agreement by any of the foregoing, any loss or damage, however caused, to books, records, files,
money, securities negotiable instruments or papers in or about the Premises; any loss or damage resulting from interference with or obstruction
of deliveries to or from the Premises; any injury or damage not specified above to the person or property of the Tenant, its agents,
servants or employees, or any other person entering upon the Premises under express or implied invitation of the Tenant, where the injury
or damage is caused by any reason other than the negligence or misconduct of the Landlord, its agents, servants, or employees; and the
failure by the Tenant to perform its obligations under this Agreement the provisions of this section are subject to the waiver of any
right of subrogation against the Landlord in the Tenant’s insurance.

 

	30.	RELEASE
    OF THE LANDLORD

 

The
Tenant hereby releases the Landlord from any and all claims, actions, causes of action. damages, demands for damages and other liabilities,
howsoever arising (the “Tenant’s Claims”), that may be made by the Tenant against the Landlord under the provisions
of this Agreement to the extent that the Tenant’s claims would be covered by the policies of insurance the Tenant is obliged to
maintain under this Agreement. In addition, and without limitation, the Tenant agrees that the Landlord, shall not be liable for and
hereby release the Landlord from:

 

	 	a)	any
    and all claims, actions, causes of action, damages, demands for damages and other liabilities,

 

	 	i)	for
    or related to any bodily injury, personal injury, illness or discomfort to or death of the Tenant or any of its agents, officers,
    contractors, employees, invitees, Tenants and any other person for whom the Tenant is legally responsible in or about the Building
    or the Premises, and for or related to any loss or damage to property owned by the Tenant or by others and for which property the
    Tenant is responsible in or about the Building or the Premises; and

 

	 	b)	without
    limiting the generality of the foregoing, the Landlord shall not be liable for any damage caused by steam, water, rain or snow which
    may leak into, issue or flow from part of the Building, including the Premises, or from the pipes or plumbing works thereof, or from
    any other place or, for any damage caused by or attributable to the condition or arrangement of any electric or other wiring;
	 	 	 
	 	c)	any
    loss or damage caused as a result of any damage, destruction, construction, alteration, expansion expropriation, reduction, repair
    or reconstruction from time to time of the Building, any parts or components of the Building or of improvements on adjoining properties
    or by anything done or omitted to be done by any other Tenant or occupant;
	 	 	 
	 	d)	any
    act or omission (including theft, malfeasance or negligence) on the part of any agent, contractor or person from time to time employed
    by the Landlord to perform janitorial services, security services, supervision or any other work in or about the Premises or the
    Building;
	 	 	 
	 	e)	any
    loss or damage, however caused, to books of account, records, files, money, securities, negotiable instruments, papers, computer
    disks, tapes, software, data and other electronic files and their storage media of any kind or to other valuables of the Tenant including
    art, artworks, statuary, antiques, gems and precious metals of the Tenant and of others;
	 	 	 
	 	f)	any
    loss or damage arising from obstruction of deliveries to or from the Premises or interruption, cessation, faulty operation, breakdown
    or failure of any building systems including but not limited to. the supply of any utilities, telecommunication services (whether
    controlled or owned by the Landlord or not) or other services in, to or serving the Building or the Premises, whether they are supplied
    by the Landlord or by others; and
	 	 	 
	 	g)	any
    indirect or consequential damages including, but not limited to, loss of profit.

  

    	8

    	 

    

 

	31.	SUBLETTING
    AND ASSIGNMENT

 

	 	(a)	The
    Tenant shall have the right to sublet the Premises, or any portion thereof or assign the Lease with the Landlord’s prior written
    consent, such consent not to be unreasonably withheld or unduly delayed. The Landlord shall not have the right to withhold consent
    on the basis that the rent to be paid by the subtenant is less than the then prevailing fair market rent, or different than the Gross
    Rent payable by Tenant pursuant to the Lease, nor shall Landlord have the right to withhold consent on the basis that Landlord has
    other similar office space available on a direct head lease basis. If the Tenant undertakes a sublease or assignment as provided
    for in the Lease, the consent shall be based upon the Landlord’s standard form of consent to sublease for the Building, amended
    in accordance with terms and conditions as may be agreed to by Landlord and Tenant and their respective advisors, both acting reasonably
    and in good faith;
	 	 	 
	 	(b)	The
    Landlord shall respond in writing to the Tenant’s written request to sublease the Premises or any part thereof or to assign
    the Lease within ten (10) business days;
	 	 	 
	 	(c)	Throughout
    the Term and any extension or renewal thereof, the Tenant shall have the right to assign or sublet the Premises to Tenant’s
    affiliates (as such term is defined in the Business Corporations Act) provided such affiliates have substantially common management
    or directors as Tenant, and to assign or sublet pursuant to any bona fide merger, and/or re-organization, (collectively, the “Permitted
    Transferee”), without the Landlord’s consent, but with notice to the Landlord;
	 	 	 
	 	(d)	In
    the event the Tenant subleases or assigns all or a portion of the Premises and realizes a profit in excess of Gross Rent due under
    the Lease, Tenant shall be allowed to recover, in addition to Gross Rent, the out-of-pocket costs of Tenant spent on brokerage and
    professional fees and other similar costs associated with the subleasing or assignment of the Premises. After such disbursements.
    any excess rent shall be applied to the Landlord’s account;
	 	 	 
	 	(e)	In
    the event Landlord elects to terminate the Lease with respect to the Premises which are to be sublet or assigned pursuant to the
    proposed transfer, then the termination date shall be no less than thirty (30) days from the date of the Landlord’s notice
    and otherwise on the same date as when the proposed transfer was to be made effective. Notwithstanding the above, in the event the
    Landlord elects to terminate the Lease with respect to the proposed transfer, the Tenant shall have five (5) business days to rescind
    its request and remain in the Premises; and
	 	 	 
	 	(f)	The
    Landlord acknowledges and agrees that it shall not have the right to seek unreasonable variances or additional conditions of any
    type or nature to the terms of the
	 	 	 
	 	 	Lease
    after the notice by the Tenant of its intention to assign or sublet hereunder. provided however this will not prevent the Landlord
    from requiring conditions which will, in the Landlord’s reasonable opinion, protect the value, use, operation, or reputation
    of the Building; and provided only that any such assignment or sublease agreement provides that all of the terms, conditions and
    provisos of the Lease have been expressly agreed to by the subtenant or the assignee, except for the Premises, the Term and the rent
    if it is a sublease.

 

	32.	LANDLORD’S
    RULES

 

The
rules and regulations set forth in Schedule D have been adopted by the Landlord or the safety, benefit and convenience of all tenants
and other Persons in the Development.

 

The
Tenant shall. at all times, comply with, and shall cause its employees, agents, licensees and invitees to comply with, such rules and
regulations attached as Schedule D hereto and such further and other reasonable rules and regulations and amendments and changes thereto
as may be made by the Landlord and notified to the Tenant by mailing a copy thereof to the Tenant or by posting same in a conspicuous
place in the Development. All such rules and regulations now or hereafter in force shall be read as forming part of this Lease.

 

	33.	HAZARDOUS
  SUBSTANCES

 

The
Tenant covenants and agrees that it will:

 

	 	(a)	not
    bring or allow any Hazardous Substance to be brought onto the Development or the Premises except in compliance with Environmental
    Law;
	 	 	 
	 	(b)	comply
    at all limes and require all those for whom the Tenant Is In law responsible to comply at all times with Environmental Law as ll
    affects the Premises or the Development. and
	 	 	 
	 	(c)	give
    notice and provide access to the Landlord of the presence at any time during the Term of any Hazardous Substance on the Premises
    (or the Development if such substance is in the control of the Tenant) together with such information concerning such Hazardous Substance
    and its presence on the Premises or the Development as the Landlord may require.

 

	34.	DEFECTS
    IN UTILITIES

 

The
Tenant shall give to the Landlord prompt notice of any accident or other defect in the water pipes, gas pipes, heating apparatus or telephone,
electric light or other wires.

 

	35.	SURRENDER

 

If
and whenever the Landlord is entitled to or does re-enter the Premises, the Landlord may terminate this Lease by giving notice thereof,
and in such event the Tenant shall forthwith vacate and surrender the Premises.

 

	36.	DAMAGE
    TO PREMISES

 

If,
during the term of this Lease, the Premises are damaged from fire or other casualty, then either:

 

	 	(a)	If
    the Premises are rendered partially unfit for occupancy by the Tenant, the rent payable shall be only for the part of the Premises
    that are usable and therefore shall be reduced in proportion to the normal rent if the whole Premises were usable;
	 	 	 
	 	(b)	If
    the Premises are rendered wholly unfit for occupancy by the Tenant, the rent will be proportionately reduced to the extent that the
    Premises are thereby rendered unusable by the Tenant in its business, from the date of the casualty until completion by the Landlord
    of the repairs to the Premises payable until the Premises; or
	 	 	 
	 	(c)	If
    the Premises are, in the opinion of the Landlord’s architect, incapable of being repaired with reasonable diligence within
    180 days of the damage occurrence, then the term of this Lease shall be terminated and the Tenant shall immediately surrender the
    Premises and all its interest to the landlord, such rent to be a portion and payable only to the date of the damage occurrence. The
    Landlord may re-enter and repossess the Premises upon discharge of the Lease. The Landlord must give the Tenant a Notice in writing
    within sixty (60) days after the date of damage or destruction as to whether the Premises are repairable within 180 days.

 

    	9

    	 

    

 

	37.	REDEVELOPMENT
    AND DEMOLITION

 

The
Landlord may construct additional improvements or renovate existing improvements on the Land or on any adjacent land, may remodel the
Building and may add storeys to the Building. Neither the construction, renovation or demolition by the Landlord or any other Person
of any improvement on either the Land or any land adjacent thereto or within the Building, nor the noise, dust, vibration or other inconvenience
or the reduction or light, air or view occasioned by such construction, renovation or demolition shall affect the obligations of the
Tenant or result in any liability of the Landlord

 

	38.	EARLY
    TERMINATION

 

If
the term granted by this lease or any of the goods and chattel of the Tenant shall at any time be seized or taken in execution or in
attachment by a creditor of the Tenant, or if a Writ of Execution shall issue against the goods or chattels of the Tenant and remain
unsatisfied for a period of fifteen (15) Business Days from the date of issue, or if the Tenant shall make any assignment for the benefit
of creditors, or become bankrupt or insolvent or if the Tenant shall attempt to sell or dispose of goods and chattels located on the
Premises so that there would not, in the event of such sale or disposal, be, in the opinion of the Landlord, a sufficient distress on
the Premises for the then accruing rent, then and in every such case the current months’ Rent, together with rent for the next
three succeeding months, shall immediately become due and payable and the term of this Lease shall, a the option of the Landlord, forthwith
become forfeited and determined, without prejudice to any claim or claims which the landlord may have under this Lease.

 

	39.	TENANT
    DEFAULT

 

If
the Rent hereby reserved or any part thereof be in default for a period of ten (10) days, or if the Tenant fails to remedy any other
breach of one or more of the terms of this Lease after the receipt of five (5) days notice in writing by the Landlord calling breach
to the attention of the Tenant and requesting lawful for the Landlord to re-enter into and upon the Premises and thereupon the term of
this Lease may be terminated by the Landlord. The Landlord shall be entitled to recover any and all damages associated with the material
default, including without limitation, in addition to any rights reserved or available to the Landlord in respect of an early termination
of this Lease, cleanup costs and charges, civil and criminal penalties and fees, loss of business and sales by the Landlord and other
tenants of the Development, any and all damages and claims asserted by third parties and the Landlord’s solicitors’ fees
and costs.

 

If
and whenever any of the following events (“Events of Default”) occur, namely:

 

	 	ii.	all
    or any part of the Rent hereby reserved is not paid when due, and such default continues for seven days after the due date thereof;
	 	 	 
	 	iii.	the
    Tenant becomes insolvent or commits an act of bankruptcy or becomes bankrupt or takes the benefit of any statute that may be in force
    for bankrupt or insolvent debtors or becomes involved in voluntary or involuntary winding-up proceedings or if a receiver shall be
    appointed for the business, property, affairs or revenues of the Tenant; or
	 	 	 
	 	iv.	the
    Tenant fails to observe, perform and keep each and every one of the covenants, agreements, provisions, stipulations and conditions
    herein contained to be observed. performed and kept by the Tenant (other than payment of Rent) and persist in such failure after
    10 days notice by the Landlord requiring that the Tenant remedy, correct, desist or comply (or if any such breach would reasonably
    require more than 10 days to rectify, unless the Tenant commences rectification within the 10 days notice period and thereafter promptly
    and effectively and continuously proceeds with the rectification of the breach)

 

then
and in any of such cases, at the option of the Landlord, the full amount of the then current month’s and the next ensuing three
months’ installments of Rent, together with all expenses incurred by the Landlord in performing any of the Tenants obligations
under this Lease, re-entering or terminating and re-letting, collecting sums due or payable by the Tenant, effecting seizure and realizing
upon assets seized (including brokerage, legal fees and disbursements), and the expense of keeping the Premises in good order, repairing
the same and preparing them for re-letting, shall immediately become due and payable and the Landlord may immediately distrain for the
same, together with any arrears then unpaid; and the Landlord may without notice or any form of legal process forthwith re-enter upon
and take possession of the Premises or any part thereof in the name of the whole and remove and sell the Tenant’s goods, chattels
and trade fixtures therefrom, any rule of law or equity to the contrary notwithstanding; and the Landlord may seize and sell such goods,
chattels and equipment of the Tenant whether within the Premises or removed therefrom, and the Tenant waives or renounces the benefit
of any present or future law taking away or limiting

 

the
Landlord’s right of distress on the property of the Tenant, and may apply the proceeds thereof to all Rent and other payments to
which the Landlord is then entitled under this Lease. Any such sale may be effected in the discretion of the Landlord by public auction
or otherwise, and either in bulk or by individual item, or partly by one means and partly by another, all as the Landlord in its entire
discretion may decide. If any of the Tenant’s property is disposed of as provided in this section 39, 10 days prior notice to the
Tenant of disposition shall be deemed to be commercially reasonable.

 

    	10

    	 

    

 

	40.	LIEN
    ON THE TENANT’S GOODS AND EQUIPMENT

 

If
the Tenant is in default under this Lease, the Landlord has a lien on all goods, inventory, trade fixtures, equipment facilities and
leasehold improvements of the Tenant in the Premises as security against loss or damage resulting from the occurrence of an Event of
Default and none of the above will be removed by anyone until the Event of Default is corrected, unless otherwise permitted in writing
by the Landlord. While any Event of Default is in existence or subsisting, the corporate personal property of the Tenant shall not be
removed in whole or in part from the Premises unless the prior written consent of the Landlord (which consent may be unreasonably or
arbitrarily withheld or denied) is obtained, and the Landlord shall have the unfettered right to seize and sell the personal properly
of the Tenant in such manner and by such method as the Landlord, in its sole discretion, deems advisable, and to apply the proceeds of
any sale firstly to the costs and expenses incurred to effect such sale and seizure and the remaining balance, if any, towards the losses
and damages suffered or incurred by the Landlord as a result of the occurrence of such Event of Default, or, if applicable, to the costs
and expenses incurred to cure such Event of Default, notwithstanding that the Term may have expired or this Lease may have been terminated
prior to the date of such seizure, sale or both. In the event that the Premises are vacated or abandoned by the Tenant leaving personal
property of the Tenant therein or thereon, all such personal property shall, at the Landlord’s option, be deemed to have become
the unencumbered property of the Landlord, and such personal property may be transferred. sold, disposed of or otherwise dealt with by
the Landlord without any liability or accountability to the Tenant. The provisions of this section 40 will survive the expiration or
earlier termination of this Lease. Notwithstanding the foregoing the personal property of the Tenant’s employees such as pictures,
photos and sentimental personal items may be removed with the Landlord’s prior written consent.

 

	41.	PAYMENTS

 

If
the Landlord shall re-enter or if this Lease shall be terminated hereunder, the Tenant shall pay to the Landlord on demand:

 

	 	(a)	Rent
    up to the time of re-entry or termination, whichever shall be the later, plus accelerated rent as herein provided;
	 	 	 
	 	(b)	all
    expenses incurred by the Landlord in performing any of the Tenant’s obligations under this Lease, re-entering or terminating
    and re-letting, collecting sums due or payable by the Tenant, realizing upon assets seized (including brokerage, legal fees and disbursements),
    and the expense of keeping the Premises in good order, repairing the same and preparing them for re-letting; and
	 	 	 
	 	(c)	as
    damages for the loss of income of the Landlord expected to be derived from the Premises, the amounts (if any) by which the Rent which
    would have been payable under this Lease exceeds the payments (if any) received by the Landlord from other tenants in the Premises,
    payable on the first day of each month during the period which would have constituted the unexpired portion of the Term had it not
    been terminated, or at the election of the Landlord by notice to the Tenant at or after re-entry or termination, a lump sum amount
    equal to the Rent which would have been payable under this Lease from the date of such election during the period which would have
    constituted the unexpired portion of the Term had it not been terminated, reduced by the rental value of the Premises for the same
    period, established by reference to the terms and conditions upon which the Landlord re-lets them if such re-letting is accomplished
    within a reasonable period after termination, and otherwise established by reference to all market and other relevant circumstances;
    Rent and rental value being reduced to present worth at an assumed interest rate of 10% on the basis of the Landlord’s estimates
    and assumptions of fact which shall govern unless shown to be erroneous.

 

	42.	OVER
    HOLDING

 

In
the event the Tenant remains in occupation of the Premises after the expiration of the term of this Lease without Landlord consent, the
Tenant shall pay Gross Rent times 200% to the Landlord, and the Lease shall be deemed to be month to month.

 

    	11

    	 

    

 

	43.	NAME
    OF BUILDING

 

The
Landlord shall have the right after 30 days notice to the Tenant to change the name, number or designation of the Building, during the
Term without liability to the Tenant.

 

	44.	REGISTRATIONS

 

The
Tenant agrees with the Landlord not to register this Lease.

 

	45.	ACKNOWLEDGEMENTS

 

Upon
the request of the Landlord the Tenant shall execute and deliver within 10 days of such request a certificate in the form provided by
the Landlord certifying, amongst other things and without limitation, that:

 

	 	(a)	this
    lease is in full force and effect, subject only to such modification if any) as may be set out therein;
	 	 	 
	 	(b)	the
    Tenant is in possession of the Premises and paying Rent as provided in this Lease;
	 	 	 
	 	(c)	the
    dates (if any) to which Rent is paid in advance; and
	 	 	 
	 	(d)	that
    here are not, to the Tenant’s knowledge any uncured defaults on the part of the Landlord hereunder, or specifying such defaults
    if any are claimed.

 

Any
such certificate may be relied upon by any prospective transferee or encumbrance, of all or any portion of the Development, or any assignee
of any such Persons. If the Tenant fails to timely deliver such statement, the Tenant shall be deemed to have acknowledged that this
Lease is in full force and effect, without modification except as may be represented by the Landlord, and that there are no uncured defaults
in the Landlord’s performance.

 

	46.	SIGNS
    AND ADVERTISING

 

The
Tenant has the right to have its name displayed on the main lobby directory board for the Building, on the floor lobby directory board
on each floor on which the Premises are located and on the main door to the Premises, all such signs to be at the Tenant’s expense
and to be under the exclusive control of the Landlord and to conform to the uniform pattern of identification signs for tenants of the
Building prescribed by the Landlord.

 

If
the Premises constitute one or more full floors of the Building, the Tenant has the right to have a sign displaying the name of the Tenant
in the elevator lobby of each such floor, at the Tenant’s expense, provided that the design of the sign has been approved by the
Landlord.

 

	47.	RELOCATION

 

The
Landlord shall have the right, at any time during the Term, to relocate the Tenant anywhere Within the Development to accommodate a full
floor or more third party tenant, upon giving the Tenant 90 days written notice. The relocated premises shall be of a similar type, size
and quality to the existing Premises, shall be no lower than the 14th floor of the Building and shall be constructed at the
Landlord’s expense. Should the relocated premises be larger than the Premises, the Tenant’s monthly Rent stall not increase.

 

The
Tenant shall provide the Landlord with a written estimate of the Tenant’s reasonable moving expenses, 20 days prior to the date
of relocation. The Landlord shall have the option of:

 

	 	(i)	reimbursing
    the Tenant for reasonable moving expenses within 30 days following the presentation of invoices by the Tenant; or
	 	 	 
	 	(ii)	making
    suitable arrangements for moving the Tenant at the Landlord’s expense.

 

    	12

    	 

    

 

	48.	TENANTS
    REPAIRS

 

Except
to the extent that the Landlord is specifically responsible therefor under this Lease, the Tenant shall maintain the Premises and all
improvements therein in good order and condition.

 

If
the Tenant fails to maintain the Premises under this section, then on not less than 10 days’ notice to the Tenant, the Landlord
may enter the Premises and perform such obligation without liability to the Tenant for any loss or damage to the Tenant thereby incurred
and the Tenant shall pay the Landlord for the cost thereof, plus 15% of such cost for overhead and supervision, within 10 days of receipt
of the Landlord’s invoice therefor.

 

	49.	CONDITION
    OF PREMISES

 

Except
to the extent that the Landlord is specifically responsible therefor under this Lease, the Tenant shall maintain the Premises and all
improvements therein in good order and condition.

 

At
the expiration or earlier termination of the Term, the Tenant shall peaceably surrender and yield up to the Landlord the Premises and
all Leasehold Improvements in good and substantial repair and condition in accordance with its covenants to maintain and repair the Premises.
The Tenant shall not be responsible for the removal, repair or restoration of any leasehold improvements in the Premises upon the expiry
or early termination of the Lease, except only for damage, if any, caused by the Tenant, reasonable wear and tear expected. Notwithstanding
anything contained in this section, upon the expiration of the Term and at the Tenant’s cost, the Tenant shall remove all nontypical
leasehold improvements in the Premises installed by the Tenant as are such identified by the Landlord.

 

	50.	INSPECTION

 

The
Landlord may enter upon the Premises only during business hours and view the state of repair thereof, and may serve upon the Tenant by
registered mail a notice in writing of any defect requiring it within the time to be therein mentioned, to repair the same. and the Tenant
will repair the Premises in so far as it is bound to do so according to such notice, and the terms of this Lease.

 

	51.	NOTICES

 

Any
notice from one party to the other hereunder shall be in writing and shall be deemed duly served if delivered personally or emailed to
a responsible employee of the party being served, or if mailed by registered or certified mail addressed to the Tenant at the Premises
(whether or not the Tenant has departed from, vacated or abandoned the same) or to the Landlord at the address indicated in section 1
(a) or any other place from time to time established for the payment of Rent. Any notice shall be deemed to have been given at the time
of personal delivery or email or if mailed, seven days after the date of mailing thereof. Either party shall have the right to designate
by notice, in the manner above set forth, a different address to which notices are to be mailed.

 

	52.	NET
    LEASE

 

Intentionally
deleted.

 

	53.	SET-OFF

 

In
the event the Landlord is liable or any payment or reimbursement to the Tenant then unless otherwise provided for in this Lease the Landlord
has the right to set-off such reimbursement or liability against liabilities of the Tenant to the Landlord.

 

	54.	LIMITATION
    OF RECOURSE

 

The
Tenant acknowledges that, notwithstanding any other provision contained in this Lease, the obligations of and rights against the Landlord
under this Lease and any other agreement with the Tenant shall be performed, satisfied and paid only out of and enforced against, and
recourse hereunder shall be had only after judgment and only against, the right, title and interest of the Landlord in, and the Landlord’s
revenue derived from, the Development whether such action or proceeding is for an award of damages, declaratory or injunctive relief
or specific performance. No obligation of the Landlord hereunder or in respect hereof is personally binding upon, nor shall any resort
or recourse be had, judgment issued or execution or other process levied against, the Landlord (except to the extent necessary for enforcement
under the first sentence of this section and only for that purpose), or against any other assets or revenues of the Landlord. The only
remedy against the Landlord shall be an action for damages. Notwithstanding anything else contained in this Lease or implied by law,
in respect of any remedy as against the Landlord, where the Landlord is comprised of more than one party, the liability of each party
comprising the Landlord shall be deemed to be several and not joint or
joint and several, and shall be limited to the respective undivided percentage interest of each such party in the Land.

 

    	13

    	 

    

 

	55.	EFFECT
    OF SALE OR ASSIGNMENT

 

A
sale, conveyance or assignment (collectively, the “disposition”) of the Development or part thereof shall release the Landlord
from liability from after the effective date of such disposition upon the assumption by the transferee under such disposition of all
the covenants, terms and conditions or this Lease. This Lease shall not be affected by any such disposition, and the Tenant shall attorn
to the transferee of such disposition.

 

	56.	SUBORDINATION

 

This
Lease is and shall be subject and subordinate in all respects to any and all Mortgages and leasehold interests now or hereafter placed
on the Development, and to all renewals, modifications, consolidations, replacements and extensions thereof.

 

	57.	ATTORNMENT

 

If
the Interest of the Landlord is transferred to any Person (the “Purchaser”) by reason of foreclosure or other proceedings
for enforcement of any such mortgage, or by delivery of a deed in lieu of such foreclosure or other proceedings, the Tenant shall immediately
and automatically attorn to Purchaser.

 

	58.	SURVIVAL
    OF COVENANTS AND INDEMNITIES

 

All
obligations of the Tenant which arise during the Term pursuant to this Lease and which have not been satisfied at the end of the Term
and all indemnities of the Tenant contained in this Lease shall survive the expiration or other termination of this Lease.

 

	59.	COUNTERPARTS
    AND ELECTRONIC DELIVERY

 

This
Lease may be executed in counterparts and the counterparts together shall constitute an original document. Delivery of this document
may be made by email in PDF format and if so delivered shall be deemed to be an original document.

 

	60.	INDEPENDENT
    LEGAL ADVICE

 

The
Tenant acknowledges that the Landlord hereby advises the Tenant to obtain advice from independent legal counsel prior to signing this
Lease. The Tenant further acknowledges that any information provided by the Landlord is not to be construed as legal, tax or any other
expert advice and the Tenant is cautioned not to rely on any such information without seeking legal, tax or other expert advice.

 

	61.	LIABILITY:
    JOINT/SEVERAL

 

In
the event there is more than one entity or Person which or who are parties constituting the Tenant under this Lease. the obligation imposed
upon each of the parties comprising the Tenant under this Lease shall be joint and several.

 

The
Tenant and the Landlord hereby accept this Lease subject to the conditions, restrictions and covenants herein set forth.

 

IN
WITNESS WHEREOF the corporate seals of the Landlord and Tenant have been hereunto attached and attested by the hands of their proper
officers in that behalf all on the day and the year first above written.

 

	LANDLORD:		444-STH AVE GP INC.,
	 	 	as general partner for and on behalf of
	 	 	444-5TH AVE SW LIMITED PARTNERSHIP

 

	 	Per:
    	/s/
    Greg Guatto
	 	Name:
    	Greg
    Guatto
	 	Title:
    	CEO
	 	 	 
	 	Per:
    	/s/
    R. Scott Hutcheson
	 	Name:
    	R.
    Scott Hutcheson
	 	Title:
    	Executive
    Chair

 

	 	I/We have the authority to bind the
  corporation.

 

	TENANT:	INDVR
    BRANDS, INC.

 

	 	Per:
    	/s/
    Joshua Mann
	 	Name:
    	Joshua
    Mann
	 	Title:
    	President
    & CEO
	 	 	
	 	Per:
    	 
	 	Name: 	 
	 	Title:	 

 

	 	I/We have the authority to bind the corporation.

 

    	14

    	 

    

 

SCHEDULE
A

 

FLOOR
PLAN

 

(Suite
1840, as shown below)

 

 

    	15

    	 

    

 

SCHEDULE
B

 

LEGAL
DESCRIPTION

 

	Building
    Address:	444
    5th Avenue SW. Calgary, Alberta
	 	 
	Legal
    Description:	PLAN
    C 
	 	BLOCK
    26
	 	LOTS
    17 18 AND 19
	 	EXCEPTING
    OUT OF LOT19 (ASTO SURFACE ONLY) THE CORNER CUT ON PLAN
	 	1867JK

 

    	16

    	 

    

 

SCHEDULE
C

 

DETERMINATION
OF OCCUPANCY COSTS

 

Intentionally
deleted

 

    	17

    	 

    

 

SCHEDULE
D

 

LANDLORD
RULES AND REGULATIONS

 

	1.	Security.
    The Landlord may from time to time adopt appropriate systems and procedures for the security or safety of the Building, any Persons
    occupying, using or entering the same, or any equipment, finishings or contents thereof, and the Tenant shall comply with the Landlord’s
    reasonable requirements relative thereto.
	 	 
	2.	Locks.
    The landlord may from time to time install and change locking mechanisms on entrances to the Building, Common Areas thereof, and
    the Premises, and (unless 24-hour security is provided by the Building) shall provide to the Tenant a reasonable number of keys and
    replacements to meet the bona fide requirements of the Tenant. In these rules “keys” include any device serving the same
    purpose. The Tenant shall not add to or change existing locking mechanisms on any door in or to the Premises without the Landlord’s
    prior written consent. If with the Landlord’s consent. the Tenant installs lock(s) incompatible with the Building master locking
    system

 

	 	(a)	the
    landlord, without abatement of Rent, shall be relieved of any obligation under this Lease to provide any service to the affected
    areas which requires access thereto;
	 	 	 
	 	(b)	the
    Tenant shall indemnify the Landlord against any expenses as a result of a forced entry thereto which may be required in an emergency;
    and
	 	 	 
	 	(c)	the
    Tenant shall at the end of the Term and at the Landlord’s request remove such lock(s) at the Tenants expense.

 

	3.	Return
    of Keys. At the end of the Term, the Tenant shall promptly return to the Landlord all keys for the Building and Premises
    which are in possession of the Tenant.
	 	 
	4.	Windows.
    The Tenant shall observe the Landlord’s rules with respect to maintaining uniform drapes and venetian blinds at all windows
    in the Premises so that the Building presents a uniform exterior appearance, and shall not install any window shades, screen, drapes,
    covers or other materials on or at any window in the Premises without the Landlord’s written consent. The Tenant shall ensure
    that all drapes and venetian blinds are closed on all windows in the Premises while they are exposed to direct rays of the sun.
	 	 
	5.	Repair
    Maintenance Alterations and Improvements. The Tenant shall carry out the Tenant’s repair, maintenance, alterations
    and Improvements in the Premises only during time agreed to In advance by the Landlord and in a manner which will not interfere with
    the rights of other tenants in the Building.
	 	 
	6.	Water
    Fixtures. The Tenant shall not use water fixtures for any purpose for which they are not intended, nor shall water be wasted
    by tampering with such fixtures. Any cost or damage resulting from such misuse by the Tenant shall be paid for by the Tenant.
	 	 
	7.	Personal
    Use of Premises.· The Premises shall not be used or permitted to be used for residential lodging or sleeping purposes
    or for the storage of personal effects or property not required for business purposes.
	 	 
	8.	Heavy
    Articles. The Tenant shall not place in or move about the Premises without the Landlord’s prior written consent any
    safe or other heavy article which in the Landlord’s reasonable opinion may damage the Building, and the Landlord may designate
    the location of any heavy articles in the Premises.
	 	 
	9.	Carpet
    Pads. In those portions of the Premises where carpet has been provided directly or indirectly by the Landlord, the Tenant
    shall at its own expense install and maintain pads to protect the carpet under all furniture having casters other than carpet casters.
	 	 
	10.	Bicycles
    Animals. The Tenant shall not bring any animals or birds into the Building, and shall not permit bicycles or other vehicles
    inside or on the sidewalks outside the Building except in areas designated from time to time by the Landlord for such purposes. Bicycles
    are not permitted in the elevators and the Landlord is not responsible for any lost, damaged or stolen bicycles. The Landlord’s
    rules and regulations in this section 10 are subject to change.
	 	 
	11.	Deliveries.
                                            The Tenant shall ensure that deliveries of materials and supplies to the Premises are made
                                            through such entrances, elevators and corridors and at such times as may from time to time
                                            be designated by the Landlord. and shall promptly pay or cause to be paid to the Landlord
                                            the cost of repairing any damage in the Building caused by any Person making such deliveries.

 

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	12.	Furniture
    and Equipment. The Tenant shall ensure 1hat furniture and equipment being moved into or out of the Premises is moved through
    such entrances. elevators and corridors and at such times as may from time to time be designated by the Landlord, and by movers or
    a moving company approved by the Landlord, and shall promptly pay or cause to be paid to the Landlord the cost of repairing any damage
    in the Building caused thereby, and the cost of building staff regarding special moving requirements of the Tenant.
	 	 
	13.	Solicitations.
    The Landlord reserves the right to restrict or prohibit canvassing, soliciting or peddling in the Building.
	 	 
	14.	Food
    and Beverages. Only Persons approved from time to time by the Landlord may prepare, solicit orders for, sell, serve or distribute
    foods or beverages in the Building, or use the elevators, corridors or common Areas for any such purpose. Except with the Landlord’s
    prior written consent and in accordance with arrangements approved by the Landlord, the Tenant shall not permit on the Premises the
    use of equipment for dispensing food or beverages or for the preparation, solicitation of orders for, sale, serving or distribution
    of food or beverages. The foregoing shall not include the use of equipment for dispensing food and beverages to the employees of
    the Tenant.
	 	 
	15.	Refuse.
    The Tenant shall place all refuse in proper receptacles provided by the Tenant at its expense in the Premises or in receptacles (if
    any) provided by the Landlord for the Building, and shall keep sidewalks and driveways outside the Building, and lobbies, corridors,
    stairwell, ducts and shafts of the Building free of all refuse.
	 	 
	16.	Obstructions.
    The Tenant shall not obstruct or place anything in or on the sidewalks or driveways outside the Building or in the lobbies, corridors.
    stairwells or other Common Areas of the Building, or use such locations for any purpose except access to and exit from the Premises
    without the Landlord’s prior written consent. The Landlord may remove at the Tenant’s expense any such obstruction or
    thing (unauthorized by the Landlord) without notice or obligation to the Tenant.
	 	 
	17.	Dangerous
    or Immoral Activities. The Tenant shall not make any use of the Premises which involves the danger of· injury to any
    person, nor shall the same be used for any immoral purpose.
	 	 
	18.	Proper
    Conduct. The Tenant shall not conduct itself in any manner which is inconsistent with the character of the Building as a
    first-class quality Building or which will impair the comfort and convenience of other tenants in the Building.
	 	 
	19.	Employees,
    Agents and Invitees. In these Rules and Regulations, the Tenant includes the employees, agents, invitees and licensees of
    the Tenant and others permitted by the Tenant to use or occupy the Premises
	 	 
	20.	Signs.
    The Tenant shall not paint, display, inscribe, place or affix any sign, picture, advertisement, notice, lettering or direction on
    any part of the exterior of the Premises or so as to be visible from the exterior of the Premises without the Landlord’s written
    consent. The Tenant shall adhere to the building standard identification signs for tenants to be placed on the outside of the doors
    leading into the Premises of tenants of multiple tenancy floors.
	 	 

    	19

    	 

    

 

SCHEDULE
E

 

ADDITIONAL
PROVISIONS

 

	1.	Chattels

 

The
Premises shall include all furniture including desks, chairs, meeting room furniture, appliances and all other furniture presently contained
in the Premises and as viewed on January 28, 2021 (the “Existing Chattels”). The Landlord shall also allow the Tenant to
select furniture from the 22nd floor of the Building (the “Additional Chattels”) to furnish the Premises. All
costs associated with moving the Additional Chattels shall be at the Tenant’s expense. The final and approved inventory of the
Existing Chattels and the Additional Chattels shall form part of the Lease (collectively the “Chattels”) The Tenant agrees
to maintain the Chattels in good condition, reasonable wear and tear expected and for greater certainty, the Chattels at all times remain
the property of the Landlord and shall not be removed from the Premises.

 

	2.	Parking

 

From
the date the Tenant takes occupancy of the Premises and thereafter throughout the Term, the Landlord shall make provision for and the
Tenant shall licence one (1) reserved Term stall and three (3) month to month underground parking stall in the Northland Place underground
parkade located at 407 – 3rd Street SW (the “Parking Facility”) at a fixed rate of $445.00 per stall per
month plus GST for the duration of the Term.

 

The
Tenant’s rights under this section shall terminate upon expiry or earlier termination of the Lease or the Landlord taking possession
of the Premises. The Tenant acknowledges and agrees further that the Tenant’s rights under this section are contractual rights
only and do not form an interest in land. The Tenant’s rights under this section are subject to and superseded by the Parking Agreement
once executed and delivered by the Tenant and the Landlord.

 

Notwithstanding
anything contained in this Lease, the Landlord may terminate the Tenant’s entitlement to use some or all of the parking stalls
if for any reason the Landlord will not be able to reasonably make the parking stalls available to the Tenant (including without limitation
the demolition of all or part of the Parking Facility or some or all of the parking stalls no longer being available to the Landlord)
and the circumstances giving rise to the Landlord’s inability to make the parking stalls available to the Tenant are not of a temporary
nature. The Landlord shall whenever possible give the Tenant not less than 30 days written notice of such termination, provided that
in no event shall the Landlord have any liability to the Tenant in connection with any failure to provide such 30 days’ notice.

 

	3.	Right to Licence

 

Notwithstanding
anything to the contrary herein, the Landlord acknowledges that the Tenant shall have the right to license a portion of the Premises
to multiple third party arm’s length companies with substantially the same management (the “Permitted Licensee”) for
a period equal to all or a portion of the Term (the “Right to License”) without formal consent of the Landlord. so long as
the Permitted Licensee is an affiliate of the Tenant. The Landlord acknowledges that on the Possession Date the Tenant intends on granting
a Right to License to Luminous Capital Inc. and Leiio Wellness Ltd. This Right to License to the Permitted Licensee is exclusive to the
Tenant and may not be assigned or transferred. In addition, the Tenant shall provide three (3) business days prior written notice to
the Landlord of the Tenant’s intent to grant License and provide copies of the license agreement to the landlord. In no event does
the ability of the Tenant to grant License limit its obligation under this Lease. The Tenant shall be liable for any and all of its Licensees.
If the Tenant or Permitted Licensee requests to have the Permitted Licensee’s name added to the directory board of the lobby on
the floor where the Premises is located, the Tenant shall be responsible for all costs associated with the base building signage. Further,
the Tenant shall be responsible for any and all costs, expenses or charges directly associated with their Permitted Licensees, such as
access cards and keys, and any physical signage, plus an administrative fee of 15%.

 

	4.	Building Amenities

 

The
Tenant’s employees shall have access to the amenities available for use by tenants of the Building and all buildings as part of
the Aspen Club. so long as the Building is owned and operated by Aspen Properties, at no additional charge over and above the Tenant’s
obligation to pay Gross Rent

 

    	20

    	 

    

 

SCHEDULE
F

 

LANDLORD’S
WORK AND TENANT’S WORK

 

Only
those items enumerated below as Landlord’s Work will be provided and installed by the landlord in the Premises on a “once
only” basis at the Landlord’s expense in accordance with the Landlord’s choice of materials. All the Landlord’s
Work will consist of site preparation and construction of the base building and will be done in accordance with the plans prepared by
the Architect subject to changes required by the Landlord, its consultants or governmental authorities. All other work required for the
Premises, including those items enumerated as Tenant’s Work will be provided and installed by the Tenant at the Tenant’s
sole cost and expense. Except for the items shown as Landlord’s Work, the Premises are Leased on an “as is, where is”
basis and there are no representations or warranties concerning the Premises or the Building except as contained herein.

 

Landlord’s
Work

 

At
no cost to the Tenant, the Landlord shall complete the following work in the Premises prior to the Fixturing Period.

 

	 	1.	Ensure
    all HVAC, mechanical, plumbing and electrical servicing the Premises are in good working order;
	 	 	 
	 	2.	Ensure
    the blinds on the exterior windows servicing the Premises are in good working condition and consistent with the Building standard;
	 	 	 
	 	3.	Ensure
    light coverings throughout the Premises are in good condition and are in a uniform condition; and
	 	 	 
	 	4.	Ensure
    all current data cabling servicing the Premises is in good working order.

 

Tenant’s
Work

 

	 	1.	All
    improvements to Premises in excess of the Landlord’s Work including all further electrical and mechanical requirements.
	 	 	 
	 	2.	Any
    changes desired by the Tenant to the Landlord’s Work are subject to the Landlord’s approval and shall be made at the
    Tenant’s expense.
	 	 	 
	 	3.	All
    permits and approvals necessary for the installation of the Tenant’s improvements shall be obtained by the Tenant from applicable
    municipal and other governmental departments, prior to the commencement of the installations by the Tenant.
	 	 	 
	 	4.	All
    plans for Tenant improvements must be submitted to the Landlord and be prepared in accordance with the Construction Manual Rules
    and Regulations (the “Construction Manual”) for the Building.
	 	 	 
	 	5.	There
    shall be no fees payable by the Tenant to the Landlord in respect to Tenant’s Work. The Tenant, however, shall be responsible
    for reasonable out of pocket costs, if any, incurred by the Landlord regarding the Tenant’s Work.

 

    	21

    	 

    

 

SCHEDULE
G

 

BASE
BUILDING WORK

 

The
Tenant and Landlord acknowledge, that in its normal course of operation, the Landlord may from time to time, install, replace or repair
the lighting fixtures, ceiling t-bar grid, ceiling tiles and blinds in tenant premises in the Building (the “Base Building Work”)
that may become damaged, broken or are no longer in operable condition. In conjunction with this Lease, the Landlord will, prior to the
Tenant taking possession of the Premises, install, replace or repair the following:

 

	 	1.	New
    or like new Base Building Standard blinds
	 	 	 
	 	2.	New
    or like new Base Building Standard lighting fixtures
	 	 	 
	 	3.	New
    or like new Base Building standard ceiling t-bar grid
	 	 	 
	 	4.	New
    or like new Base Building Standard ceiling tiles

 

For
the purposes of this Schedule G, “Base Building Standard” means the standard that the Landlord designates from time to time
and there may be multiple different types of blinds, lighting fixtures, t-bar grid sizes and ceiling tiles at the same time within the
Building.

 

    	22

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