Document:

Lithium Exploration Group, Inc. - Exhibit 10.144 - Filed by newsfilecorp.com

      
        
          
            
              
                    THIS NOTE AND THE COMMON STOCK ISSUABLE UPON CONVERSION OF
                      THIS NOTE HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE
                      PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED UNDER THE SECURITIES ACT OF
                      1933, AS AMENDED, AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER (THE
                      "1933 ACT”) 

              

            

          

        

      

LITHIUM EXPLORATION GROUP, INC. 
10% CONVERTIBLE
PROMISSORY NOTE 
DUE June 8, 2018 
BACK END NOTE

	Effective Date June 8, 2017 	US $85,800.00 
	Due June 8, 2018 	  

THIS NOTE AND THE COMMON STOCK ISSUABLE UPON CONVERSION OF
THIS NOTE HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE UNITED STATES
SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE
PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED UNDER THE SECURITIES ACT OF
1933, AS AMENDED, AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER
(THE "1933 ACT”) 

FOR VALUE RECEIVED Lithium Exploration Group, Inc. (the
“Company”) promises to pay to the order of Concord Holding Group, LLC,
and its authorized successors and permitted assigns ("Holder"), the
aggregate principal face amount of Eighty Five Thousand Eight Hundred Dollars
exactly (U.S. $85,800.00) on June 8, 2018 ("Maturity Date"). The Company
will pay interest on the principal amount outstanding at the rate of 10% per
annum, which will commence on June 8, 2017. The Company acknowledges that this
Note was issued with a $7,800.00 original issue discount (“OID”) such that the
issuance price was $78,000.00 as well as document prep fees of $3,000.00
(deducted from the amount funded). The interest will be paid to the Holder in
whose name this Note is registered on the records of the Company regarding
registration and transfers of this Note. The principal of, and interest on, this
Note are payable at 1080 Bergen St., Suite 240, Brooklyn, NY 11216, initially,
and if changed, last appearing on the records of the Company as designated in
writing by the Holder hereof from time to time. The Company will pay each
interest payment and the out-standing principal due upon this Note before or on the Maturity
Date, less any amounts required by law to be deducted or withheld, to the Holder
of this Note by check or wire transfer addressed to such Holder at the last
address appearing on the records of the Company. The forwarding of such check or
wire transfer shall constitute a payment of outstanding principal hereunder and
shall satisfy and discharge the liability for principal on this Note to the
extent of the sum represented by such check or wire transfer. Interest shall be
payable in Common Stock (as defined below) pursuant to paragraph 4(b) herein.

                    
This Note is subject to the following additional provisions: 

                    
1.        This Note is exchangeable for an
equal aggregate principal amount of Notes of different authorized denominations,
as requested by the Holder surrendering the same. No service charge will be made
for such registration or transfer or exchange, except that Holder shall pay any
tax or other governmental charges payable in connection therewith. 

                    
2.        Under all applicable laws, the
Company shall be entitled to withhold any amounts from all payments it is
entitled to. 

                    
3.        This Note may only be transferred
or exchanged in compliance with the Securities Act of 1933, as amended
("Act") and any applicable state securities laws. All attempts transfer
to a non-qualifying party shall be treated by the Company as void. Prior to due
presentment for transfer of this Note, the Company and any agent of the Company
may treat the person in whose name this Note is duly registered on the Company's
records as the owner hereof for all other purposes, whether or not this Note be
overdue, and neither the Company nor any such agent shall be affected or bound
by notice to the contrary. Any Holder of this Note electing to exercise the
right of conversion set forth in Section 4(a) hereof, in addition to the
requirements set forth in Section 4(a), and any prospective transferee of this
Note, also is required to give the Company written confirmation that this Note
is being converted ("Notice of Conversion") in the form annexed hereto as
Exhibit A. The date of receipt (including receipt by telecopy) of such
Notice of Conversion shall be the Conversion Date.

            1.              
4.       
(a)        The Holder of this Note has the
option, upon the issuance date of the stock, to convert all or any amount of the
principal face amount of this Note then outstanding into shares of the Company's
common stock (the "Common Stock") at a price ("Conversion Price")
for each share of Common Stock equal to the lesser of $0.005 or 50% discount of
the lowest trading price of the Common Stock as reported on
the National Quotations Bureau OTC Markets exchange which the Company’s shares
are traded or any exchange upon which the Common Stock may be traded in the
future ("Exchange"), for the (i) twenty
prior trading days, including the day upon which a Notice of
Conversion is received by the Company (provided such Notice of Conversion is
delivered by fax or other electronic method of communication to the Company
after 4 P.M. Eastern Standard or Daylight Savings Time if the Holder wishes to
include the same day closing price), or (ii) the twenty
prior trading days immediately preceding the issuance date of this Note. 

The Notice of Conversion may be rescinded if the
shares have not been delivered within 3 business days. The Company shall deliver
the shares of Common Stock to the Holder within 3 business days of receipt by
the Company of the Notice of Conversion. The Holder shall surrender this Note to
the Company upon receipt of the shares of Common Stock, executed by the Holder.
This will make clear the Holder's intention to convert this Note or a specified
portion hereof, and accompanied by proper assignment hereof in blank. Accrued
but unpaid interest shall be subject to conversion. The number of issuable
shares will be rounded to the nearest whole share, and no fractional shares or
scrip representing fractions of shares will be issued on conversion. To the
extent the Conversion Price of the Company’s Common Stock closes below the par
value per share, the Company will take all steps necessary to solicit the
consent of the stockholders to reduce the par value to the lowest value possible
under law. The Company agrees to honor all conversions submitted pending this
increase. In the event the Company experiences a DTC “Chill” on
its shares, the conversion price discount shall be increased to 60% while
that “Chill” is in effect. Notwithstanding anything to the contrary
contained in the Note (except as set forth below in this Section), the Note
shall not be convertible by Investor, and Company shall not effect any
conversion of the Note or otherwise issue any shares of Common Stock to the
extent (but only to the extent) that Investor together with any of its
affiliates would beneficially own in excess of 9.99% (the “Maximum
Percentage”) of the Common Stock outstanding. To the extent the foregoing
limitation applies, the determination of whether a Note shall be convertible
(vis-à-vis other convertible, exercisable or exchangeable securities owned by
Investor or any of its affiliates) and of which such securities shall be
convertible, exercisable or exchangeable (as among all such securities owned by
Investor and its affiliates) shall, subject to such Maximum Percentage
limitation, be determined on the basis of the first submission to Company for
conversion, exercise or exchange (as the case may be). No prior inability to
convert a Note, or to issue shares of Common Stock, pursuant to this Section
shall have any effect on the applicability of the provisions of this Section
with respect to any subsequent determination of convertibility. For purposes of
this Section, beneficial ownership and all determinations and calculations
(including, without limitation, with respect to calculations of percentage
ownership) shall be determined in accordance with Section 13(e) of the 1934 Act
(as defined below) and the rules and regulations promulgated thereunder. The
provisions of this Section shall be implemented in a manner otherwise than in
strict conformity with the terms of this Section to correct this Section (or any
portion hereof) which may be defective or inconsistent with the intended Maximum
Percentage beneficial ownership limitation herein contained or to make changes
or supplements necessary or desirable to properly give effect to such Maximum
Percentage limitation. The limitations contained in this Section shall apply to
a successor holder of this Note and shall be unconditional, irrevocable and
non-waivable. For any reason at any time, upon the written or oral request of
Investor, Company shall within one (1) business day confirm orally and in
writing to Investor the number of shares of Common Stock then outstanding,
including by virtue of any prior conversion or exercise of convertible or
exercisable securities into Common Stock, including, without limitation,
pursuant to this Note. During the first six months, this Note is in effect, the
Investor may not convert this Note pursuant to this paragraph. The conversion
discount and look-back period will be adjusted downward (i.e. for the benefit of
the Holder) if the Company offers a more favorable conversion discount (whether via interest
rate, OID, lower ceiling price or otherwise) or look-back period to another
party while this note is in effect and the Holder will also get the benefit of
any other term (for a example a higher prepay) granted to any third party while
this Note is in effect. 

                                  
(b)        Interest on any unpaid principal
balance of this Note shall be paid at the rate of 10% per annum. Interest shall
be paid, by the Company, in Common Stock ("Interest Shares"). Holder may send in
a Notice of Conversion to the Company for Interest Shares based on the formula
provided in Section 4(a) above. The dollar amount converted into Interest Shares
shall be all or a portion of the accrued interest calculated on the unpaid
principal balance of this Note to the date of such notice.

                                  
(c)        This Note may not be prepaid. 

                                  
(d)        Upon (i) a transfer of all or
substantially all of the assets of the Company to any person in a single
transaction or series of related transactions, (ii) a reclassification, capital
reorganization or other change or exchange of outstanding shares of the Common
Stock, other than a forward or reverse stock split or stock dividend, or (iii)
any consolidation or merger of the Company with or into another person or entity
in which the Company is not the surviving entity (other than a merger which is
effected solely to change the jurisdiction of incorporation of the Company and
results in a reclassification, conversion or exchange of outstanding shares of
Common Stock solely into shares of Common Stock) (each of items (i), (ii) and
(iii) being referred to as a "Sale Event"), then, in each case, the Company
shall, upon request of the Holder, redeem this Note in cash for 150% of the
principal amount, plus accrued but unpaid interest through the date of
redemption, or at the election of the Holder, such Holder may convert the unpaid
principal amount of this Note (together with the amount of accrued but unpaid
interest) into shares of Common Stock immediately prior to such Sale Event at
the Conversion Price. 

                                  
(e)        In case of any Sale Event (not to
include a sale of all or substantially all of the Company’s assets) in
connection with which this Note is not redeemed or converted, the Company shall
cause effective provision to be made so that the Holder of this Note shall have
the right thereafter, by converting this Note, to purchase or convert this Note
into the kind and number of shares of stock or other securities or property
(including cash) receivable upon such reclassification, capital reorganization
or other change, consolidation or merger by a holder of the number of shares of
Common Stock that could have been purchased upon exercise of the Note and at the
same Conversion Price, as defined in this Note, immediately prior to such Sale
Event. The foregoing provisions shall similarly apply to successive Sale Events.
If the consideration received by the holders of Common Stock is other than cash,
the value shall be as determined by the Board of Directors of the Company or
successor person or entity acting in good faith. 

                    
5.        No provision of this Note shall
alter or impair the obligation of the Company, which is absolute and
unconditional, to pay the principal of, and interest on, this Note at the time,
place, and rate, and in the form, herein prescribed. 

                    
6.        The Company hereby expressly waives
demand and presentment for payment, notice of non-payment, protest, notice of
protest, notice of dishonor, notice of acceleration or intent to accelerate, and
diligence in taking any action to collect amounts called for hereunder and shall
be directly and primarily liable for the payment of all sums owing and to be
owing hereto. 

                    
7.        The Company agrees to pay all costs
and expenses, including reasonable attorneys' fees and expenses, which may be
incurred by the Holder in collecting any amount due under this Note. 

                     8.       
While this Note is outstanding and to the extent the Company grants any other
party more favorable investment terms (whether via interest rate, original issue
discount, conversion discount or look-back period), the terms of the Note shall
automatically adjust to match those more favorable terms. 

                    
9.        If one or more of the following
described "Events of Default" shall occur: 

                                  
(a) The Company shall default in the payment of principal or interest on this
Note or any other note issued to the Holder by the Company; or 

                                  
(b) Any of the representations or warranties made by the Company herein or in
any certificate or financial or other written statements heretofore or hereafter
furnished by or on behalf of the Company in connection with the execution and
delivery of this Note, or the Securities Purchase Agreement under which this
note was issued shall be false or misleading in any respect; or 

                                  
(c) The Company shall fail to perform or observe, in any respect, any covenant,
term, provision, condition, agreement or obligation of the Company under this
Note or any other note issued to the Holder; or 

                                  
(d) The Company shall (1) become insolvent; (2) admit in writing its inability
to pay its debts generally as they mature; (3) make an assignment for the
benefit of creditors or commence proceedings for its dissolution; (4) apply for
or consent to the appointment of a trustee, liquidator or receiver for its or
for a substantial part of its property or business; (5) file a petition for
relief, consent to the filing of such petition or have filed against it an
involuntary petition for bankruptcy relief, all under federal or state laws as
applicable; or 

                                  
(e) A trustee, liquidator or receiver shall be appointed for the Company or for
a substantial part of its property or business without its consent and shall not
be discharged within sixty (60) days after such appointment; or 

                                  
(f) Any governmental agency or any court of competent jurisdiction at the
instance of any governmental agency shall assume custody or control of the whole
or any substantial portion of the properties or assets of the Company; or 

                                  
(g) One or more money judgments, writs or warrants of attachment, or similar
process, in excess of Hundred Eighty Five Thousand and Eight Hundred dollars
($85,800.00) in the aggregate, shall be entered or filed against the Company or
any of its properties or other assets and shall remain unpaid, unvacated,
unbonded or unstayed for a period of fifteen (15) days or in any event later
than five (5) days prior to the date of any proposed sale thereunder; or 

                                  
(h) The Company shall have defaulted on or breached any term of any other note
of similar debt instrument into which the Company has entered and failed to cure
such default within the appropriate grace period; or 

                                  
(i) The Company shall have its Common Stock delisted from an exchange (including
the OTCBB exchange) or, if the Common Stock trades on an exchange, then trading
in the Common Stock shall be suspended for more than 10 consecutive days;

                                  
(j) If a majority of the members of the Board of Directors of the Company on the
date hereof are no longer serving as members of the Board;

                                  
(k) The Company shall not deliver to the Holder the Common Stock pursuant to
paragraph 4 herein without restrictive legend within 3 business days of its
receipt of a Notice of Conversion; or 

                                  
(l) The Company shall not replenish the reserve set forth in Section 13, within
3 business days of the request of the Holder. If the Company does not replenish,
the request of the Holder then the conversion discount set forth in Section 4(a)
shall be increased from a 50% conversion discount to a 60% conversion discount;
or 

                                  
(m) The Company shall not be “current” in its filings with the Securities and
Exchange Commission; or 

                                  
(n) The Company shall lose the “bid” price for its stock in a market (including
the OTC marketplace or other exchange). 

                                  
(o) The Company is in arrears for more than 30 days with its Transfer Agent, the
conversion discount shall be increased from 50% to 60%. 

                                  
(p) A default has been declared against the Company, which has not been cured in
any other loan or Note agreement. 

                                  
(q) The Company’s Common Stock has a closing bid price of less than $0.0006 per
share for at least 5 consecutive trading days.

                                  
(r) The aggregate dollar trading volume of the Company’s Com- mon Stock is less
than forty thousand dollars ($40,000.00) in any 5 consecutive trading days.

Then, or at any time thereafter, unless cured within 5 days,
(except for 9(q) and 9(r) which are incurable defaults, the sole remedy of which
is to allow the Holder to cancel both this Note and the Holder Issued Note), and
in each and every such case, unless such Event of Default shall have been waived
in writing by the Holder (which waiver shall not be deemed to be a waiver of any
subsequent default) at the option of the Holder and in the Holder's sole
discretion, the Holder may consider this Note immediately due and payable,
without presentment, demand, protest or (further) notice of any kind (other than
notice of accelera- tion), all of which are hereby expressly waived, anything
herein or in any note or other in- struments contained to the contrary
notwithstanding, and the Holder may immediately, and without expiration of any
period of grace, enforce any and all of the Holder's rights and remedies
provided herein or any other rights or remedies afforded by law. Upon an Event
of Default, interest shall accrue at a default interest rate of 24% per annum
or, if such rate is usurious or not permitted by current law, then at the
highest rate of interest permitted by law. In the event of a breach of Section
8(k) the penalty shall be $250 per day the shares are not issued beginning on
the 4th day after the conversion notice was delivered to the Company. This
penalty shall increase to $500 per day beginning on the 10th day. The pen- alty
for a breach of Section 8(n) shall be an increase of the outstanding principal
amounts by 20%. In case of a breach of Section 8(i), (k), or (l) the outstanding
principal due under this Note shall increase by 50%. If this Note is not paid at
maturity, the outstanding princi- pal due under this Note shall increase by 10%.
If the Holder shall commence an action or proceeding to enforce any provisions
of this Note, including, without limitation, engaging an attorney, then if the
Holder prevails in such action, the Holder shall be reimbursed by the Company
for its attorneys’ fees and other costs and expenses incurred in the investiga-
tion, preparation and prosecution of such action or proceeding.

At the Holder’s election, if the Company fails for any reason
to deliver to the Holder the conversion shares by the 3rd business day following
the delivery of a Notice of Conversion to the Company and if the Holder incurs a
Failure to Deliver Loss, then at any time the Holder may provide the Company
written notice indicating the amounts payable to the Holder in respect of the
Failure to Deliver Loss and the Company must make the Holder whole as follows:

Failure to Deliver Loss = [(High trade
price at any time on or after the day of exercise) x (Number of conversion
shares)] 

The Company must pay the Failure to Deliver Loss by cash
payment, and any such cash payment must be made by the third business day from
the time of the Holder’s written notice to the Company. 

                    
10.      In case any provision of this Note is held by
a court of competent jurisdiction to be excessive in scope or otherwise invalid
or unenforceable, such provision shall be adjusted rather than voided, if
possible, so that it is enforceable to the maximum extent possible, and the validity and enforceability of the
remaining provisions of this Note will not in any way be affected or impaired
thereby. 

                    
11.      Neither this Note nor any term hereof may be
amended, waived, discharged or terminated other than by a written instrument
signed by the Company and the Holder. 

                    
12.      The Company represents that it is not a
“shell” issuer and has never been a “shell” issuer or that if it previously has
been a “shell” issuer that at least 12 months have passed since the Company has
reported form 10 type information indicating it is no longer a “shell issuer.
Further. The Company will instruct its counsel to either (i) write a 144-
3(a)(9) opinion to allow for salability of the conversion shares or (ii) accept
such opinion from Holder’s counsel. 

                    
13.      The Company shall reserve 66,000,000 shares of
Common Stock for conversions under this Note (the “Share Reserve”). The investor
shall have the right to periodically request that the number of Reserved Shares
be increased so that the number of Reserved Shares at least equals 400%
of the number of shares of Company common stock issuable upon conversion of
the Note. The Company shall pay all costs associated with issuing and delivering
the shares. At all times, the reserve shall be maintained with the Transfer
Agent at four times the amount of shares required if the Note would be fully
converted. If the Company defaults on these terms, the conversion discount will
increase to 60%. 

                    
14.      The Company will give the Holder direct notice
of any corporate actions, including but not limited to name changes, stock
splits, recapitalizations etc. This notice shall be given to the Holder as soon
as possible under law.

                    
15.      This Note shall be governed by and construed
in accordance with the laws of New York applicable to contracts made and wholly
to be performed within the State of New York and shall be binding upon the
successors and assigns of each party hereto. The Holder and the Company hereby
mutually waive trial by jury and consent to exclusive jurisdiction and venue in
the courts of the State of New York. This Agreement may be executed in
counterparts, and the facsimile transmission of an executed counterpart to this
Agreement shall be effective as an original. 

IN WITNESS WHEREOF, the Company has caused this Note to be duly
executed by an officer thereunto duly authorized. 

Dated: June 8th, 2017 

LITHIUM EXPLORATION GROUP, INC. 

 

EXHIBIT A 

NOTICE OF CONVERSION 

(To be Executed by the Registered Holder in order to Convert the
Note) 

                    
The undersigned hereby irrevocably elects to convert $___________of the above
Note into _________Shares of Common Stock of Lithium Exploration Group, Inc.
(“Shares”) according to the conditions set forth in such Note, as of the date
written below. 

                    
If Shares are to be issued in the name of a person other than the undersigned,
the undersigned will pay all transfer and other taxes and charges payable with
respect thereto. 

	Date of Conversion:
      _______________________________________________________________________________
	Applicable Conversion Price:
      ________________________________________________________________________
	Signature:
      ______________________________________________________________________________________
	               
                         
                         
         [Print Name of Holder and Title of Signer] 
	Address:
      _______________________________________________________________________________________
	                
      _______________________________________________________________________________________

	SSN or EIN: 
	Shares are to be registered in the following name:
  

	Name:
      _________________________________________________________________________________________
	Address:
      _______________________________________________________________________________________
	Tel:
_________________________________________________
	Fax:
_________________________________________________
	SSN or EIN:
  ___________________________________________

Shares are to be sent or delivered to the following account:

	Account Name:
      __________________________________________________________________________________
	Address:
      _______________________________________________________________________________________Lithium Exploration Group, Inc.: Exhibit 10.145 - Filed by newsfilecorp.com

LOAN AGREEMENT 

THIS AGREEMENT is made as the 29th of November, 2017

	BETWEEN: 	 
	 	LITHIUM EXPLORATION GROUP, INC., a
      corporation 
	 	incorporated under the laws of the State of
      Nevada, having an 
	 	office at 4635 S. Lakeshore Dr. Ste 200, Tempe,
      AZ 85282 (the 
	 	“Borrower”) 
	 	 
	AND: 	 
	 	 
	 	Blue Sky Petroleum Inc., a corporation
      incorporated under the 
	 	laws of the State of ______________________
      having an office at 
	 	20701 n Scottsdale Rd Ste 107-227, Scottsdale,
      AZ 85255 (the 
	 	“Lender”) 

WHEREAS: 

	A. 	
      the Borrower wishes to borrow and the Lender wishes to
      lend to the Borrower an aggregate principal amount of USD$15,000 (the
      “Loan”) with 10% interest to be used by the Borrower for general
      corporate and operational purposes; and

	 	 
	B. 	
      the parties wish to record the terms and conditions of
      the Loan to be made pursuant to the terms of this
  Agreement.

NOW THEREFORE THIS AGREEMENT WITNESSES that pursuant to
the premises and in consideration of the mutual covenants contained in this
Agreement and the agreement of the Lender to advance funds to the Borrower, the
parties covenant and agree as follows: 

1. LOAN 

1.1 Loan. The Lender is to make the Loan available to
the Borrower as of the date of this Agreement and on execution of this Agreement
and the promissory note as attached Schedule “A” of this Agreement (the
“Promissory Note”). 

1.2 Interest Rate. The Loan is to bear interest from the
date any funds are advanced to the Borrower to the date of full repayment of all
amounts outstanding under the Loan at 10% per annum, accruing daily before as
well as after maturity, default or judgment (the “Interest Rate”).
Interest shall be payable monthly, in arrears, commencing on the date of any
particular advance under the Loan. 

1.3 Conditions Precedent to Advance. The Lender will not
have any obligation to advance all or any portion of the Loan to the Borrower
until all of the following have been fulfilled to the Lender’s satisfaction:

	 	(a) 	
      the Borrower has executed and delivered this
      Agreement;

	 	(b) 	
      the Borrower has executed and delivered to the Lender the
      Promissory Note; and

	 	 	 
	 	(c) 	
      all filings necessary or advisable have been made in the
      appropriate jurisdictions.

1.4 Payment of Principal and Interest. The Borrower will
pay to the Lender in full the principal amount of the Loan and all accrued and
unpaid Interest on the earlier to occur of: 

	 	(a) 	
      April 1, 2018, subject to extension upon mutual agreement
      of the Lender and Borrower; or

	 	 	 
	 	(b) 	
      an Event of Default occurring
hereunder.

1.5 Prepayment. The Borrower may prepay the Loan in
whole or in part, at any time and from time to time without notice, bonus or
penalty. 

1.6 Applications of Payments. All payments on the Loan
in cash made by the Borrower to the Lender are to firstly be applied to the
Interest and secondly to the principal balance outstanding under the Loan.

1.7 Manner of Payments. The Borrower will make all
payments to the Lender under this Agreement by wire transfer, cheque, direct
deposit or bank draft in immediately available funds to such account or accounts
of the Lender the Lender may direct. 

1.8 Withholding Taxes. If the Borrower is required by
law to withhold from any payment required to be made to the Lender under this
Agreement or a Promissory Note, any amount on account of any taxes imposed by
the laws of the United States, or the laws applicable therein, the Borrower will
make the withholding and pay the amount withheld to the appropriate governmental
authority before penalties attach or interest accrues. The amount of any payment
required to be made hereunder by the Borrower to the Lender is to be reduced by
any amount withheld and paid in respect of such payment in accordance with this
Section. Upon request of the Lender, the Borrower will deliver to the Lender
official tax receipts evidencing such payments. 

2. REPRESENTATIONS AND WARRANTIES 

2.1 Representations and Warranties of the Borrower. The
Borrower represents and warrants to the Lender that: 

	 	(a) 	
      it has been duly incorporated, validly exists and is in
      good standing under the jurisdiction of its incorporation and each
      jurisdiction where it carries on business and has been duly licensed to
      carry on business in all jurisdictions where it is carrying on
      business;

	 	 	 
	 	(b) 	
      it has the power and authority to enter into, execute and
      deliver and to keep, observe and perform all of the covenants, agreements
      and other obligations made by or imposed on it under this Agreement and
      the Promissory Note (collectively, the “Loan
  Documents”);

	 	(c) 	
      the Loan Documents and all other instruments and
      agreements delivered by the borrower to the Lender pursuant to this
      Agreement have been or will be validly executed by it or on its behalf
      and, when delivered to the Lender, will be legal, valid and binding
      obligations of it, enforceable in accordance with their respective terms,
      except as enforcement may be limited by;

	 	 	 	 
	 		(i) 	
      applicable bankruptcy, insolvency, moratorium,
      reorganization and similar laws at the time in effect affecting the rights
      of creditors generally; and

	 	 	 	 
	 		(ii) 	
      equitable principles which may limit the availability of
      certain remedies, including the remedy of specific performance;

	 	 	 	 
	 	(d) 	
      the execution, delivery and performance by it of the Loan
      Documents does not contravene any material provision of any regulation,
      order or permit applicable to it, or cause a breach of or constitute a
      default under or require any consent under any agreement or instrument to
      which it is a party or by which it is bound except such as have been
      obtained;

	 	 	 	 
	 	(e) 	
      there are no suits or judicial proceedings or proceedings
      before any governmental commission, board or other agency, actual, pending
      or to its knowledge threatened against it which involves a significant
      risk of a judgment or liability which, if satisfied, would have an adverse
      effect upon its financial position or the ability to meet its obligations
      under this Agreement or to grant the Loan Documents;

	 	 	 	 
	 	(f) 	
      it is not in default under any guarantee, note or other
      instrument evidencing any indebtedness, other than as disclosed in writing
      to the Lender by the Borrower, and to its knowledge there exists no state
      of facts which, after notice or lapse of time or both or otherwise, would
      constitute such a default; and

	 	 	 	 
	 	(g) 	
      no event is outstanding which constitutes, or with notice
      or lapse of time or both would constitute, an Event of Default (as defined
      below).

3. COVENANTS 

3.1 Affirmative Covenants. Until such time that
the Loan and any outstanding Interest are repaid in full, the Borrower will:

	 	(a) 	
      pay all amounts due and owing to the Lender when
    due;

	 	 	 
	 	(b) 	
      at all times maintain its corporate existence and be
      registered or licensed to carry on business in all jurisdictions where the
      nature of its business makes it prudent to do so;

	 	 	 
	 	(c) 	
      preserve and protect the goodwill, assets, business and
      undertaking of the Borrower;

	 	(d) 	
      maintain adequate records and books of account reflecting
      all financial transactions in conformity with generally accepted
      accounting principles and provide to the Lender its unaudited quarterly
      and audited annual financial statements, including its balance sheet,
      income statement and statement of cash flow;

	 	 	 
	 	(e) 	
      comply in all material respects with all material
      contracts, arrangements, agreements or understandings entered into by the
      Borrower;

	 	 	 
	 	(f) 	
      materially comply with all applicable environmental laws
      and promptly provide notice to the Lender of any material default or
      breach of any environmental law; and

	 	 	 
	 	(g) 	
      pay all taxes and claims when
due.

3.2 Negative Covenants. Until such time that the Loan
and any outstanding Interest are repaid in full and without the prior consent of
the Lender, the Borrower will not 

	 	(a) 	
      guarantee, endorse or otherwise become surety for the
      obligations of any other person;

	 	 	 
	 	(b) 	
      reorganize or amalgamate with any other person, except as
      has been fully disclosed to the Lender by the Borrower as of the date
      hereof;

	 	 	 
	 	(c) 	
      make any inter-company loans or shareholder loans or
      investments, except in the ordinary course of business;

	 	 	 
	 	(d) 	
      dispose of any of its assets, property or undertaking,
      except in the ordinary course of business; or

	 	 	 
	 	(e) 	
      materially change its business.

4. EVENTS OF DEFAULT 

4.1 Events of Default. Each of the following events
constitutes a default by the Borrower under this Agreement (each, an “Event
of Default”), unless the Lender agrees to waive such default: 

	 	(a) 	
      the Borrower fails to pay any amount owing to the Lender
      under this Agreement when due, and such amount remains unpaid for five
      days;

	 	 	 
	 	(b) 	
      any of the representations or warranties of the Borrower
      in this Agreement are misleading, or incorrect in any material
    respect;

	 	 	 
	 	(c) 	
      an order is made or a resolution passed for the
      liquidation or winding-up of the Borrower; or

	 	(d) 	
      if the Borrower becomes insolvent, admits in writing its
      inability to pay its debts as they become due or otherwise acknowledges
      its insolvency, commits an act of bankruptcy, makes an assignment or bulk
      sale of its assets, is adjudged or declared bankrupt or makes an
      assignment for the benefit of creditors or a proposal or similar action
      under any bankruptcy law or any similar legislation, or commences any
      other proceedings relating to it under any reorganization, arrangement,
      readjustment of debt, dissolution or liquidation law or statute of any
      jurisdiction whether now or thereafter in effect, or consents to any such
      proceeding.

4.2 Remedies for Events of Default. Upon the occurrence
of an Event of Default, the Lender may: 

	 	(a) 	
      immediately declare due and payable the outstanding
      balance of the Loan and any unpaid accrued Interest without presentment of
      the Notes, and without demand, protest or other notices of any kind, all
      of which are expressly waived by the Borrower; and/or

	 	 	 
	 	(b) 	
      exercise any and all rights, powers, remedies and
      recourses available to the Lender under the Loan Documents, at law, in
      equity or otherwise.

4.3 Waiver of Default. The Lender may, in writing in
their absolute discretion at any time and from time to time, waive any breach by
the Borrower of any of its covenants in this Agreement, provided that any such
waiver does not constitute a continuing waiver and does not constitute a waiver
of any other term or provision of this Agreement. 

4.4 No Waiver. No failure or delay on the part of the
Lender in exercising any right, power or privilege under this Agreement operates
as a waiver thereof; nor does any single or partial exercise of any right, power
or privilege under this Agreement preclude any other or further exercise thereof
or the exercise of any other right, power or privilege. The rights and remedies
in this Agreement expressly specified are cumulative and not exclusive of any
rights or remedies which the Lender would otherwise have. The acceptance by the
Lender of any payment of or on account of the Loan after a default or of any
payment on account of any partial default is not to be construed to be a waiver
of any right to take advantage of any future default or of any past default not
completely cured thereby. The Lender may exercise any and all rights, powers,
remedies and recourses available to them under this Agreement, or any other
remedy available to them, concurrently or individually without the necessity of
an election. 

5. GENERAL 

5.1 Person. References in this Agreement to a “person”
includes any individual, partnership, joint venture, company, corporation,
unincorporated entity, government entity or other entity, whether having legal
status or not, and includes persons acting in concert with each other.

5.2 Independent Legal Advice. The Borrower acknowledges
that: 

	 	(a) 	
      this Agreement was prepared by the W.L. Macdonald Law
      Corporation for the Borrower;

	 	(b) 	
      W.L. Macdonald Law Corporation received instructions from
      the Borrower and does not represent the Borrower in regards to this
      Agreement;

	 	 	 
	 	(c) 	
      the Lender has been requested by the Borrower and W.L.
      Macdonald Law Corporation to obtain its own independent legal advice on
      this Agreement prior to signing this Agreement;

	 	 	 
	 	(d) 	
      the Lender has been given adequate time to obtain
      independent legal advice;

	 	 	 
	 	(e) 	
      by signing this Agreement, the Lender confirms that he
      fully understands this Agreement; and

	 	 	 
	 	(f) 	
      by signing this Agreement without first obtaining
      independent legal advice, the Lender waives his right to obtain
      independent legal advice.

5.3 Currency. All references to dollars or currency in
this Agreement are to United States dollars. 

5.4 Governing Law. This Agreement and all matters
arising under it are to be governed by and construed in accordance with the laws
of the State of Arizona and the federal laws of the United States applicable
therein, and each of the parties submit and attorn to the jurisdiction of the
courts of Arizona. 

5.5 Severability. If any provision of this Agreement or
any part thereof is determined to be invalid, it is to be severable and severed
from this Agreement and the remainder of this Agreement is to be construed as if
such invalid provision or part has been deleted from this Agreement. 

5.6 Gender and Number. Words importing the masculine
gender include the feminine and neuter genders and words in the singular include
the plural, and vice versa. 

5.7 Headings. The headings are inserted for convenience
only and are not to affect the interpretation of this Agreement. 

5.8 Non-limiting. The word “including”, when following
any general statement, is to be construed as referring to all other things that
could reasonably fall within the scope of such general statement, whether or not
non-limiting language (such as “without limitation”) is used. 5.9 Notice.
All notices, demands and payments under this Agreement must be in writing and
may be delivered personally, via e-mail or by facsimile transmission to the
addresses set out on the first page of this Agreement or to such other addresses
as may from time to time be notified in writing by the parties. All notices will
be deemed to have been given and received on the next business day following the
date of transmission or delivery, as the case may be. 

5.10 Co-operation. Each of the parties will execute all
such further documents and do all such further things as may reasonably be
required by another party in order to give full effect to this Agreement. 

5.11 Fees and Expenses. The Borrower will pay to the
Lender all of its reasonable legal and other fees and disbursements in respect
of the Loan, including the preparation, execution and carrying out of this
Agreement, and on default will pay all costs, charges and expenses of the
Lender. All such costs and expenses are payable by the Borrower to the Lender on
demand, and in default of payment are to bear interest at the Interest Rate.

5.12 No Prejudice. Nothing in this Agreement is to
prejudice or impair any other right or remedy that the Lender may otherwise have
with respect to the Loan or any rights or remedies the Lender may have with
respect to other loans that may be made to the Borrower. 

5.13 Assignment. The Lender may assign or transfer its
rights under this Agreement, or any portion of the Loan, with the prior written
consent of the Borrower, which consent shall not be unreasonably withheld. 

5.14 Enurement. This Agreement is binding upon and
enures to the benefit of the Borrower and the Lender and their respective
successors and assigns.

5.15 Confidentiality. All documents associated with this
transaction are to be confidential and the parties will not disclose such
documents to any other person except as may be required by law. Each party will
use its reasonable efforts to provide prior notice to the other parties of any
such discloser. 

5.16 Time. Time is of the essence of this Agreement.

5.17 Entire Agreement; Conflict of Instruments. The Loan
Documents represent the entire agreement between the parties and supersede any
prior arrangements or agreement, whether in writing or not, among the
parties.

[THIS PART LEFT INTENTIONALLY BLANK] 

5.18 Counterparts. The parties may deliver this
Agreement in counterparts and by facsimile transmission, with the same effect as
if all parties had all signed an original copy of the same agreement, and all
counterparts are to be construed together as one and the same agreement. 

AS EVIDENCE OF THEIR AGREEMENT the parties have caused
this Agreement to be executed and delivered as of the date first noted above.

LITHIUM EXPLORATION GROUP, INC. 
 

BLUE SKY PETROLEUM INC 

	Per: 		 
	 	Authorized Signatory 	 

SCHEDULE “A” 

PROMISSORY NOTE

November 29, 2017 

	TO: 	BLUE SKY PETROLEUM INC(the
      “Lender”) 
	  	20701 n Scottsdale Rd Ste 107-227 
	  	Scottsdale, AZ 85255 

FOR VALUE RECEIVED, Lithium Exploration Group,
Inc. (the “Borrower”) acknowledges itself indebted and promises to
pay to, or to the order of, the Lender at the address indicated above the sum of
fifteen thousand dollars (USD$15,000) (the “Principal Sum”), together
with interest on the outstanding balance of the Principle Sum from time to time
at the rate equal to 10% PER ANNUM, both before and after
maturity, on April 1st 2018, subject to any restrictions on such demand as set
out in a Loan Agreement between the Lender and the Borrower dated as of November
29th, 2017. Interest shall be payable monthly, in arrears commencing on the date
of the advance of any amount in the Principal Sum. 

If any payment is not made when required to be made in
accordance with this promissory note, interest is to be paid by the Borrower on
such overdue amount, including any accrued and unpaid interest, in the same
manner as is paid on the Principal Sum. 

The Borrower waives presentment for payment, protest or notice
of protest and notice of dishonour of this promissory note. 

DATED this 29th day of November, 2017. 

LITHIUM EXPLORATION GROUP, INC.

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