Document:

Exhibit 4.1

 

WARRANT AGREEMENT

 

This Warrant Agreement
(“Warrant Agreement”) is made as of October 23, 2018, by and between Alberton Acquisition Corporation, a British Virgin Islands
company (the “Company”), and Continental Stock Transfer & Trust Company (the “Warrant Agent”).

 

WHEREAS, the Company
is engaged in a public offering (the “Public Offering”) of 10,000,000 units (the “Public Units”) of the
Company (and up to 1,500,000 additional Units if the underwriters’ over-allotment option is exercised in full), each Unit
consisting of one ordinary share, no par value per share (the “Ordinary Shares”), one right to receive one-tenth (1/10)
of an Ordinary Share, and one warrant (the “Public Warrant” or “Public Warrants”), each Warrant entitling
its holder to purchase one-half (1/2) of one Ordinary Share (the “Warrant Shares”);

 

WHEREAS,
the Company has received a binding commitment from Hong Ye Hong Kong Shareholding Co., Limited (“Hong Ye”),
its sponsor, to purchase up to an aggregate of 300,000 Units (or 330,000 if the overallotment is exercised in
full) (collectively, the “Private Units” together with the Public Units, the “Units”) pursuant
to Subscription Agreement, dated October 23, 2018 (the “Subscription Agreement”), each Private Unit consisting of
one Ordinary Share, one warrant and one right to receive one-tenth (1/10) of an Ordinary Share, and, in connection therewith,
will issue and deliver up to an aggregate of 330,000 warrants underlying such Private Units (the “Private
Warrants”, and together with the Public Warrants, the Representative Warrants (as defined below) and the Working
Capital Warrants (as defined below), the “Warrants”)); and

 

WHEREAS, the Company
has agreed to issue to Chardan Capital Markets LLC (“Representative”) and/or its designees, unit purchase options to
purchase up to 500,000 Units pursuant to which up to an aggregate of 500,000 warrants (the “Representative Warrants”)
may be issued; and

 

WHEREAS, the Company
may issue up to an additional 150,000 Units pursuant to which up to an aggregate of 150,000 warrants (“Working Capital
Warrants”) may be issued in satisfaction of certain working capital loans made by Hong Ye or its affiliates; and

 

WHEREAS, the Company
has filed with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-1, No. 333-227652
(“Registration Statement”), for the registration, under the Securities Act of 1933, as amended (the “Act”)
of, among other securities, the Public Warrants and the Representative Warrants; and

 

WHEREAS, the Company
desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance,
registration, transfer, exchange, redemption and exercise of the Warrants; and

 

WHEREAS, the Company
desires to provide for the form, terms and provisions of the Warrants, including the terms upon which they shall be issued and
exercised, and the respective rights, limitation of rights and immunities of the Company, the Warrant Agent and the holders of
the Warrants; and

 

     

     

    

 

WHEREAS, all acts and
things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company and countersigned
by or on behalf of the Warrant Agent, as provided herein, the legally valid and binding obligations of the Company, and to authorize
the execution and delivery of this Warrant Agreement.

 

NOW, THEREFORE, in
consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

1. 
Appointment of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants,
and the Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions
set forth in this Warrant Agreement.

 

2. 
Warrants.

 

2.1. 
Form of Warrant. Each Warrant shall be: (a) issued in registered form only, (b) in substantially the form of Exhibit A hereto,
the provisions of which are incorporated herein and (c) signed by, or bear the facsimile signature of, the Chief Executive Officer
or the Chief Financial Officer of the Company. In the event the person whose facsimile signature has been placed upon any Warrant
shall have ceased to serve in the capacity in which such person signed the Warrant before such Warrant is issued, it may be issued
with the same effect as if he or she had not ceased to be such at the date of issuance.

 

2.2. 
Effect of Countersignature. Unless and until countersigned by the Warrant Agent pursuant to this Warrant Agreement, a Warrant
shall be invalid and of no effect and may not be exercised by the holder thereof.

 

2.3. 
Registration.

 

2.3.1. 
Warrant Register. The Warrant Agent shall maintain books (the “Warrant Register”), for the registration of the
original issuance and transfers of the Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall issue and register
the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions
delivered to the Warrant Agent by the Company.

 

2.3.2. 
Registered Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent
may deem and treat the person in whose name such Warrant shall be registered upon the Warrant Register (“Registered Holder”)
as the absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other
writing on the Warrant certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise
thereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

2.4. 
Detachability of Public Warrants. Each of the securities comprising the Public Units will begin to trade separately on (i)
the ninetieth (90th) day after the effectiveness of the Registration Statement, or (ii) such earlier date as the Representative,
as representative of the underwriters, shall determine is acceptable (such date, the “Detachment Date”). In no event
will separate trading of the securities comprising the Public Units commence until the Company (i) files a Current Report on Form
8-K with the SEC including audited balance sheet reflecting our receipt of the gross proceeds of this Public Offering and (ii)
issues a press release announcing when such separate trading will begin.

 

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2.5. 
Private Warrants. The Private Warrants and the Working Capital Warrants will be issued in the same form as the Public Warrants
except that they (i) will be exercisable either for cash or on a cashless basis at the holder’s option pursuant to Section
3.3 and (ii) will not be redeemable by the Company, in either case as long as the Private Warrants and the Working Capital Warrants
are held by the initial purchasers or any of their permitted transferees (as prescribed in the Subscription Agreement). If the Private Warrants are held by holders other than the initial purchasers or any of their permitted
transferees, the Private Warrants will become redeemable by the Company and exercisable by the holders on the same basis as the
Public Warrants. The provisions
of this Section 2.5 may not be modified, amended or deleted without the prior written consent of the Representative.

 

2.6. 
Representative Warrants. The Representative Warrants shall have the same terms and be in the same form as the Public Warrants.

 

3. 
Terms and Exercise of Warrants.

 

3.1. 
Warrant Price. Each Warrant shall, when countersigned by the Warrant Agent, entitle the Registered Holder thereof, subject
to the provisions of such Warrant and of this Warrant Agreement, to purchase from the Company the number of Ordinary Shares stated
therein, at $11.50 per full share, subject to the adjustments provided in Section 4 hereof. The term “Warrant Price”
as used in this Warrant Agreement refers to the price per whole share at which Ordinary Shares may be purchased at the time such
Warrants are exercised. The Company will not issue fractional shares. As a result, such Registered Holder must exercise Warrants
in multiples of two at the Warrant Price (subject to adjustment) in order to validly exercise his, her or its Warrants.

 

3.2. 
Duration of Warrants. A Warrant may be exercised only during the period (“Exercise Period”) commencing on the
later to occur of (i) the completion of the Company’s initial Business Combination and (ii) 12 months following the effectiveness
of the Registration Statement, and terminating at 5:00 p.m., New York City time, on the earlier to occur of (i) five years following
the closing of the Company’s initial Business Combination, and (ii) the date fixed for redemption of the Warrants as provided
in Section 6 of this Warrant Agreement  or the Company’s liquidation upon its failure to consummate a Business Combination
as described in the Registration Statement (“Expiration Date”). Except with respect to the right to receive the Redemption
Price (as set forth in Section 6 hereunder), each Warrant not exercised on or before the Expiration Date shall become void, and
all rights thereunder and all rights in respect thereof under this Warrant Agreement shall cease at the close of business on the
Expiration Date. The Company may extend the duration of the Warrants by delaying the Expiration Date; provided, however, that
the Company will provide written notice of not less than 10 days to Registered Holders of such extension and that such extension
shall be identical in duration among all of the then outstanding Warrants. As used herein, the term “Business Combination”
shall mean any acquisition by share exchange, share reconstruction and amalgamation with, purchasing all or substantially all
of the assets of, entering into contractual arrangements with, or engaging in any other similar business combination with one
or more businesses or entities by the Company.

 

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3.3. 
Exercise of Warrants.

 

3.3.1. 
Cash Exercise. Subject to the provisions of the Warrant and this Warrant Agreement, a Warrant, when countersigned by the
Company, may be exercised by the Registered Holder thereof by surrendering it at the office of the Warrant Agent, or at the office
of its successor as Warrant Agent, currently being:

 

Continental Stock
Transfer & Trust Company

1 State Street,
30th Floor

New York, NY
10004

 

with the subscription
form, as set forth in the Warrant, duly executed, and by paying in full, in lawful money of the United States, by certified or
bank cashier’s check payable to the order of the Warrant Agent or by wire transfer to the Warrant Agent’s JPMorgan
bank account, the Warrant Price for each whole Warrant Share as to which the Warrant is exercised and any and all applicable taxes
due in connection with the exercise of the Warrant, the exchange of the Warrant for the Warrant Shares, and the issuance of the
Warrant Shares (such exercise, a “Cash Exercise”). A Cash Exercise in accordance with this Section 3.3.1 is available
to the Registered Holder only during such times that there is an effective registration statement registering the Warrant Shares,
with the prospectus contained therein being available for the resale of the Warrant Shares.

 

3.3.2. 
Cashless Exercise. Notwithstanding anything contained herein to the contrary, if there is no effective registration statement
registering the Warrant Shares on any day the Registered Holder desires to exercise the Warrants and more than 90 days have passed
since the Company complete its initial Business Combination, the Registered Holder may exercise the Warrants in whole or in part
in lieu of making a cash payment, by providing notice to the Chief Executive Officer of the Company in a subscription form of its
election to utilize cashless exercise, in which event the Company shall issue to the Holder the number of Warrant Shares determined
as follows:

 

X = Y [(A-B)/A]

 

where:

 

X = the number
of Warrant Shares to be issued to the Holder.

 

Y = the number
of Warrant Shares with respect to which this Warrant is being exercised.

 

A = the fair
market value of one Ordinary Share.

 

B = the Warrant
Price.

 

The Registered Holder
may not exercise any Warrants in the absence of a registration statement except pursuant to this Section 3.3.2. For purposes of
this Section 3.3.2 and Section 4.1, the fair market value of one Ordinary Share is defined as follows:

 

(i) if
the Company’s Ordinary Shares are listed and traded on the New York Stock Exchange, the NYSE MKT, the NASDAQ Global Select
Market, the NASDAQ Global Market or the NASDAQ Capital Market (each, a “Trading Market”), the fair market value shall
be deemed the average of the last sale price on such Trading Market for the 20 trading days ending on the third trading day immediately
prior to the date the subscription form is submitted to the Company in connection with the exercise of the Warrant; or

 

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(ii) if
the Company’s Ordinary Shares are not listed on a Trading Market, but is traded in the over-the-counter market, the fair
market value shall be deemed to be the average of the bid price on such Trading Market for the 10 trading day ending on the third
trading day immediately prior to the date the subscription form is submitted in connection with the exercise of the Warrant; or

 

(iii) if
there is no active public market for the Company’s Ordinary Shares, the fair market value of the Ordinary Shares shall be
determined in good faith by the Company’s board of directors.

 

3.3.3. 
Fractional Shares. Notwithstanding any provision to the contrary contained in this Warrant Agreement, the Company shall
not be required to issue any fraction of a Warrant Share in connection with the exercise of Warrants, and in any case where the
Registered Holder would be entitled under the terms of the Warrants to receive a fraction of a Warrant Share upon the exercise
of such Registered Holder’s Warrants, issue or cause to be issued only the largest whole number of Warrant Shares issuable
on such exercise (and such fraction of a Warrant Share will be disregarded); provided, that if more than one Warrant certificate
is presented for exercise at the same time by the same Registered Holder, the number of whole Warrant Shares which shall be issuable
upon the exercise thereof shall be computed on the basis of the aggregate number of Warrant Shares issuable on exercise of all
such Warrants.

 

3.3.4. 
Issuance of Certificates. No later than three (3) business days following the exercise of any Warrant and the clearance
of the funds in payment of the Warrant Price pursuant to Section 3.3.1 or cashless exercise pursuant to Section 3.3.2, the Company
shall issue, or cause to be issued, to the Registered Holder of such Warrant a certificate or certificates representing (or at
the option of the Registered Holder, deliver electronically through the facilities of the Depository Trust Corporation) the number
of full Ordinary Shares to which he, she or it is entitled, registered in such name or names as may be directed by him, her or
it, and, if such Warrant shall not have been exercised or surrendered in full, a new countersigned Warrant for the number of shares
as to which such Warrant shall not have been exercised or surrendered. Notwithstanding the foregoing, the Company shall not deliver,
or cause to be delivered, any securities without applicable restrictive legend pursuant to the exercise of a Warrant unless (a)
a registration statement under the Act with respect to the Ordinary Shares issuable upon exercise of such Warrants is effective
and a current prospectus relating to the Ordinary Shares issuable upon exercise of the Warrants is available for delivery to the
Registered Holder of the Warrant or (b) in the opinion of counsel to the Company, the exercise of the Warrants is exempt from the
registration requirements of the Act and such securities are qualified for sale or exempt from qualification under applicable securities
laws of the states or other jurisdictions in which the Registered Holder resides. Warrants may not be exercised by, or securities
issued to, any Registered Holder in any state in which such exercise or issuance would be unlawful. In addition, in no event will
the Company be obligated to pay such Registered Holder any cash consideration upon exercise or otherwise “net cash settle”
the Warrant.

 

3.3.5. 
Valid Issuance. All Ordinary Shares issued upon the proper exercise or surrender of a Warrant in conformity with this Warrant
Agreement shall be validly issued, fully paid and non-assessable.

 

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3.3.6. 
Date of Issuance. Each person or entity in whose name any such certificate for Ordinary Shares is issued shall, for all
purposes, be deemed to have become the holder of record of such shares on the date on which the Warrant was surrendered and payment
of the Warrant Price was made, irrespective of the date of delivery of such certificate, except that, if the date of such surrender
and payment is a date when the stock transfer books of the Company are closed, such person shall be deemed to have become the holder
of such shares at the close of business on the next succeeding date on which the stock transfer books are open.

 

3.3.7. 
Maximum Percentage. A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the
provisions contained in this subsection 3.3.7; however, no holder of a Warrant shall be subject to this subsection 3.3.7 unless
he, she or it makes such election. If the election is made by a holder, the Warrant Agent shall not affect the exercise of the
holder’s Warrant, and such holder shall not have the right to exercise such Warrant, to the extent that after giving effect
to such exercise, such person (together with such person’s affiliates), to the Warrant Agent’s actual knowledge, would
beneficially own in excess of 9.8% (the “Maximum Percentage”) of the Ordinary Shares outstanding immediately after
giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of Ordinary Shares beneficially owned
by such person and its affiliates shall include the number of Ordinary Shares issuable upon exercise of the Warrant with respect
to which the determination of such sentence is being made, but shall exclude Ordinary Shares that would be issuable upon (x) exercise
of the remaining, unexercised portion of the Warrant beneficially owned by such person and its affiliates and (y) exercise or conversion
of the unexercised or unconverted portion of any other securities of the Company beneficially owned by such person and its affiliates
(including, without limitation, any convertible notes or convertible preferred shares or warrants) subject to a limitation on conversion
or exercise analogous to the limitation contained herein. Except as set forth in the preceding sentence, for purposes of this paragraph,
beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”). For purposes of the Warrant, in determining the number of outstanding Ordinary Shares, the holder
may rely on the number of outstanding Ordinary Shares as reflected in (1) the Company’s most recent annual report on Form
10-K, quarterly report on Form 10-Q, current report on Form 8-K or other public filing with the SEC as the case may be, (2) a more
recent public announcement by the Company, or (3) any other notice by the Company or the Transfer Agent setting forth the number
of Ordinary Shares outstanding. For any reason at any time, upon the written request of the holder of the Warrant, the Company
shall, within two (2) business days, confirm orally and in writing to such holder the number of Ordinary Shares then outstanding.
In any case, the number of outstanding Ordinary Shares shall be determined after giving effect to the conversion or exercise of
equity securities of the Company by the holder and its affiliates since the date as of which such number of outstanding Ordinary
Shares was reported.

 

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4. 
Adjustments.

 

4.1. 
Stock Dividends, Splits. If, after the date hereof, and subject to the provisions of Section 4.5 below, the number of outstanding
Ordinary Shares is increased by a stock dividend payable in Ordinary Shares, or by a forward or reverse split of Ordinary Shares,
or other similar event, then, on the effective date of such stock dividend, split or similar event, the number of Ordinary Shares
issuable on exercise of each Warrant shall be increased or decreased in proportion to such increase or decrease in outstanding
Ordinary Shares. A rights offering to all holders of the Ordinary Shares entitling holders to purchase Ordinary Shares at a price
less than the Fair Market Value shall be deemed a stock dividend of a number of Ordinary Shares equal to the product of (i) the
number of Ordinary Shares actually sold in such rights offering (or issuable under any other equity securities sold in such rights
offering that are convertible into or exercisable for the Ordinary Shares) multiplied by (ii) one (1) minus the quotient of (x)
the price per Ordinary Share paid in such rights offering divided by (y) the Fair Market Value. For purposes of this subsection
4.1, (i) if the rights offering is for securities convertible into or exercisable for Ordinary Shares, in determining the price
payable for the Ordinary Shares, there shall be taken into account any consideration received for such rights, as well as any additional
amount payable upon exercise or conversion and (ii) “Fair Market Value” shall mean the volume weighted average price
of the Ordinary Shares for the 20 trading days ending on the third trading day prior to the date on which the notice.

  

4.2. 
Aggregation of Shares. If, after the date hereof, and subject to the provisions of Section 4.6, the number of outstanding
Ordinary shares is decreased by a consolidation, combination or reclassification of Ordinary shares or other similar event, then,
on the effective date of such consolidation, combination, reclassification or similar event, the number of Ordinary shares issuable
on exercise of each Warrant shall be decreased in proportion to such decrease in outstanding Ordinary shares.

 

4.3. 
Extraordinary Dividends. If the Company, at any time while the Warrants (or rights to purchase the Warrants) are outstanding
and unexpired, shall pay a dividend or make a distribution in cash, securities or other assets to the holders of the Ordinary Shares
on account of such Ordinary Shares (or other shares of the Company’s capital stock into which the Warrants are convertible),
other than (a) as described in subsection 4.1 above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the conversion
rights of the holders of the Ordinary Shares in connection with a proposed initial Business Combination, (d) as a result of the
repurchase of Ordinary Shares by the Company in connection with an initial Business Combination or as otherwise permitted by the
Investment Management Trust Agreement between the Company and the Warrant Agent dated of even date herewith (e) or as a result
of the issuance of Ordinary Shares as a result of conversion of the Rights issued in the Public Offering, or (f) in connection
with the Company’s liquidation and the distribution of its assets upon its failure to consummate a Business Combination (any
such non-excluded event being referred to herein as an “Extraordinary Dividend”), then the Warrant Price shall be decreased,
effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash and the fair market value
(as determined by the Company’s board of directors, in good faith) of any securities or other assets paid on each Ordinary
Share in respect of such Extraordinary Dividend. For purposes of this subsection 4.3, “Ordinary Cash Dividends” means
any cash dividend or cash distribution which, when combined on a per share basis with the per share amounts of all other cash dividends
and cash distributions paid on the Ordinary Shares during the 365-day period ending on the date of declaration of such dividend
or distribution (as adjusted to appropriately reflect any of the events referred to in other subsections of this Section 4 and
excluding cash dividends or cash distributions that resulted in an adjustment to the Warrant Price or to the number of Ordinary
Shares issuable on exercise of each Warrant) does not exceed $0.50 (being 5% of the offering price of the Units in the Offering).

 

    	 	-7-	 

     

    

 

4.4. 
Adjustments in Exercise Price. Whenever the number of Ordinary Shares purchasable upon the exercise of the Warrants is adjusted,
as provided in Sections 4.1 and 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant
Price, immediately prior to such adjustment, by a fraction, (a) the numerator of which shall be the number of Ordinary Shares purchasable
upon the exercise of the Warrants immediately prior to such adjustment, and (b) the denominator of which shall be the number of
Ordinary Shares so purchasable immediately thereafter.

 

4.5. 
Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding
Ordinary Shares (other than a change covered by Sections 4.1 or 4.2 hereof or one that solely affects the par value of such Ordinary
Shares), or, in the case of any merger or consolidation of the Company with or into another corporation (other than a consolidation
or merger in which the Company is the continuing corporation and that does not result in any reclassification or reorganization
of the outstanding Ordinary Shares), or, in the case of any sale or conveyance to another corporation or entity of the assets or
other property of the Company as an entirety or substantially as an entirety, in connection with which the Company is dissolved,
the Registered Holders shall thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions
specified in the Warrants and in lieu of the Ordinary Shares of the Company immediately theretofore purchasable and receivable
upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including
cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such
sale or transfer, that the Registered Holder would have received if such Registered Holder had exercised his, her or its Warrant(s)
immediately prior to such event; and if any reclassification also results in a change in Ordinary Shares covered by Sections 4.1
or 4.2, then such adjustment shall be made pursuant to Sections 4.1, 4.2, 4.3 and this Section 4.4. The provisions of this Section
4.4 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers.

 

4.6. 
Notices of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of shares issuable upon exercise
of a Warrant, the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting
from such adjustment and the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise
of a Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based.
Upon the occurrence of any event specified in Sections 4.1 – 4.5 the Company shall give written notice to each Registered
Holder, at the last address set forth for such Registered Holder in the Warrant Register, of the record date or the effective date
of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event.

 

4.7. 
Form of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and Warrants
issued after such adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrants initially
issued pursuant to this Warrant Agreement. However, the Company may, at any time, in its sole discretion, make any change in the
form of Warrant that the Company may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter
issued or countersigned, whether in exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so
changed.

 

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4.8. 
Notice of Certain Transactions. In the event that the Company shall (a) offer to holders of all its Ordinary Shares rights
to subscribe for or to purchase any securities convertible into Ordinary Shares or shares of stock of any class or any other securities,
rights or options, (b) issue any rights, options or warrants entitling all the holders of Ordinary Shares to subscribe for Ordinary
Shares, or (c) make a tender offer, redemption offer or exchange offer with respect to the Ordinary Shares, the Company shall send
to the Registered Holders a notice of such action or offer. Such notice shall be mailed to the Registered Holders at their addresses
as they appear in the Warrant Register, which shall specify the record date for the purposes of such dividend, distribution or
rights, or the date such issuance or event is to take place and the date of participation therein by the holders of Ordinary Shares,
if any such date is to be fixed, and shall briefly indicate the effect of such action on the Ordinary Shares and on the number
and kind of any other shares of stock and on other property, if any, and the number of Ordinary Shares and other property, if any,
issuable upon exercise of each Warrant and the Warrant Price after giving effect to any adjustment pursuant to this Section 4 which
would be required as a result of such action. Such notice shall be given as promptly as practicable after the Company has taken
any such action.

 

4.9. 
Other Events. In case any event shall occur affecting the Company as to which none of the provisions of preceding subsections
of this Section 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i) avoid
an adverse impact on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case, the Company
shall appoint a firm of independent public accountants, investment banking or other appraisal firm of recognized national standing,
which shall give its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate
the intent and purpose of this Section 4 and, if such firm determines that an adjustment is necessary, the terms of such adjustment.
The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended in such opinion.

 

5. 
Transfer and Exchange of Warrants.

 

5.1. 
Transfer of Public Warrants. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together
with the Unit in which such Public Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer
or exchange of such Unit. Furthermore, each transfer of a Unit on the register relating to such Units shall operate also to transfer
the Public Warrants included in such Unit. From and after the Detachment Date, this Section 5.1 will have no further force and
effect.

 

5.2. 
Registration of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant into
the Warrant Register, upon surrender of such Warrant for transfer, properly endorsed with signatures properly guaranteed and accompanied
by appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal aggregate number of Warrants
shall be issued and the old Warrant shall be cancelled by the Warrant Agent. The Warrants so cancelled shall be delivered by the
Warrant Agent to the Company from time to time upon the Company’s request.

 

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5.3. 
Procedure for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, together with a written request for
exchange or transfer, and, thereupon, the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested
by the Registered Holder of the Warrants so surrendered, representing an equal aggregate number of Warrants; provided, however,
that, in the event a Warrant surrendered for transfer bears a restrictive legend, the Warrant Agent shall not cancel such Warrant
and shall issue new Warrants in exchange therefor until the Warrant Agent has received an opinion of counsel for the Company stating
that such transfer may be made and indicating whether the new Warrants must also bear a restrictive legend.

 

5.4. 
Fractional Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which will
result in the issuance of a warrant certificate for a fraction of a warrant.

 

5.5. 
Service Charges. No service charge shall be made for any exchange or registration of transfer of Warrants.

 

5.6. 
Warrant Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance
with the terms of this Warrant Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and
the Company, whenever required by the Warrant Agent, will supply the Warrant Agent with Warrants duly executed on behalf of the
Company for such purpose.

 

5.7. 
Private Warrants. The Warrant Agent shall not register any transfer of Private Warrants or the Working Capital Warrants
until after the consummation by the Company of a Business Combination, except for transfers made in accordance with Section 2.5
hereof, on the condition that prior to such registration for transfer, the Warrant Agent shall be presented with written documentation
pursuant to which each transferee or the trustee or legal guardian for such transferee agrees to be bound by the terms of the Subscription
Agreement.

 

6. 
Redemption.

 

6.1. 
Redemption. Subject to the second sentence of this Section 6.1, all (and not less than all) of the outstanding Warrants
may be redeemed, in whole and not in part, at the option of the Company, at any time from and after the Warrants become exercisable,
and prior to their expiration, at the office of the Warrant Agent, upon the notice referred to in Section 6.2, at the price of
$.01 per Warrant (“Redemption Price”); provided that the last sales price of the Ordinary Shares has been equal to
or greater than $16.00 per share (subject to adjustment for splits, dividends, recapitalizations and other similar events), for
any twenty (20) trading days within a thirty (30) trading day period ending on the third business day prior to the date on which
notice of redemption is given and provided further that (i) there is a current registration statement in effect with respect to
the Ordinary Shares underlying the Warrants for each day in the 30-Day Trading Period and continuing each day thereafter until
the Redemption Date (defined below) or (ii) the cashless exercise of the Warrants pursuant to Section 3.3.2 is exempt from the
registration requirements under the Act. For avoidance of doubt, if and when the warrants become redeemable by the Company under
this Section, the Company may exercise its redemption right, even if it is unable to register or qualify the Warrant Shares for
sale under all applicable state securities laws.

 

    	 	-10-	 

     

    

 

6.2. 
Date Fixed for, and Notice of, Redemption. In the event the Company shall elect to redeem all of the Warrants, the Company
shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first class mail,
postage prepaid, by the Company not less than 30 days prior to the date fixed for redemption to the Registered Holders of the Warrants
to be redeemed at their last addresses as they shall appear on the Warrant Register. Any notice mailed in the manner herein provided
shall be conclusively presumed to have been duly given, whether or not the Registered Holder received such notice.

 

6.3. 
Exercise After Notice of Redemption. The Warrants may be exercised in accordance with Section 3 of this Warrant Agreement
at any time after notice of redemption shall have been given by the Company pursuant to Section 6.2 hereof and prior to the Redemption
Date; provided that the Company may require the Registered Holder who desires to exercise the Warrant to elect cashless exercise
as set forth under Section 3.3.2, and such Registered Holder must exercise the Warrants on a cashless basis if the Company so requires.
On and after the Redemption Date, the Registered Holder of the Warrants shall have no further rights except to receive, upon surrender
of the Warrants, the Redemption Price.

 

6.4. 
No Other Rights to Cash Payment. Except for a redemption in accordance with this Section 6, no Registered Holder of any
Warrant shall be entitled to any cash payment whatsoever from the Company in connection with the ownership, exercise or surrender
of any Warrant under this Warrant Agreement.

 

6.5. 
Exclusion of Certain Warrants. The Company understands that the redemption rights provided for by this Section 6 apply only
to outstanding Warrants. To the extent a person holds rights to purchase Warrants, such purchase rights shall not be extinguished
by redemption. However, once such purchase rights are exercised, the Company may redeem the Warrants issued upon such exercise
provided that the criteria for redemption is met. Additionally, none of the Private Warrants or Working Capital Warrant shall be
redeemable by the Company as long as such Private Warrants or the Working Capital Warrants continue to be held by initial purchasers
and affiliates or their permitted transferees (as prescribed in Section 5.7 hereof). However, once such Private Warrants or Working
Capital Warrants are no longer held by the initial purchasers or their affiliates or permitted transferees, such Private Warrants
or Working Capital Warrants shall then be redeemable by the Company pursuant to Section 6 hereof. The provisions of this Section
6.5 may not be modified, amended or deleted without the prior written consent of the Representative.

 

7. 
Other Provisions Relating to Rights of Registered Holders of Warrants.

 

7.1. 
No Rights as Shareholder. A Warrant does not entitle the Registered Holder thereof to any of the rights of a shareholder
of the Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive
rights to vote or to consent or to receive notice as shareholders in respect of the meetings of shareholders or the election of
directors of the Company or any other matter.

 

    	 	-11-	 

     

    

 

7.2. 
Lost, Stolen Mutilated or Destroyed Warrants. If any Warrant is lost, stolen, mutilated or destroyed, the Company and the
Warrant Agent may, on such terms as to indemnity or otherwise as they may in their discretion impose (which terms shall, in the
case of a mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor and date as the Warrant
so lost, stolen, mutilated or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company,
whether or not the allegedly lost, stolen, mutilated or destroyed Warrant shall be at any time enforceable by anyone.

 

7.3. 
Reservation of Ordinary Shares. The Company shall at all times reserve and keep available a number of its authorized but
unissued Ordinary Shares that will be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to
this Warrant Agreement.

 

7.4. 
Registration of Ordinary Shares. The Company agrees that as soon as practicable, but in no event later than thirty (30)
business days after the closing of a Business Combination, it shall use its best efforts to file with the SEC a registration statement
for the registration under the Act of the Ordinary Shares issuable upon exercise of the Warrants, and to cause the same to become
effective and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the
expiration of the Warrants in accordance with the provisions of this Agreement. In addition, the Company agrees to use its best
efforts to register the Ordinary Shares issuable upon exercise of the Warrants under state blue sky laws, to the extent an exemption
is not available.

 

8. 
Concerning the Warrant Agent and Other Matters.

 

8.1. 
Payment of Taxes. The Company will, from time to time, promptly pay all taxes and charges that may be imposed upon the Company
or the Warrant Agent in respect of the issuance or delivery of Ordinary Shares upon the exercise of Warrants, but the Company shall
not be obligated to pay any transfer taxes in respect of the Warrants or such shares.

 

8.2. 
Resignation, Consolidation, or Merger of Warrant Agent.

 

8.2.1. 
Appointment of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties
and be discharged from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the
Company. If the office of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall
appoint, in writing, a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment
within a period of 30 days after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the
Registered Holder of the Warrant (who shall, with such notice, submit his, her or its Warrant for inspection by the Company), then
the Registered Holder of any Warrant may apply to the Supreme Court of the State of New York for the County of New York for the
appointment of a successor Warrant Agent. Any successor Warrant Agent, whether appointed by the Company or by such court, shall
be a corporation organized and existing under the laws of the State of New York, in good standing and having its principal office
in the Borough of Manhattan, City and State of New York, and be authorized under such laws to exercise corporate trust powers and
subject to supervision or examination by federal or state authorities. After appointment, any successor Warrant Agent shall be
vested with all the authority, powers, rights, immunities, duties and obligations of its predecessor Warrant Agent with like effect
as if originally named as Warrant Agent hereunder, without any further act or deed; but, if for any reason it becomes necessary
or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument transferring
to such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and, upon request
of any successor Warrant Agent, the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for
more fully and effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities,
duties and obligations.

 

    	 	-12-	 

     

    

 

8.2.2. 
Notice of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice
thereof to the predecessor Warrant Agent and the transfer agent for the Ordinary Shares not later than the effective date of any
such appointment.

 

8.2.3. 
Merger or Consolidation of Warrant Agent. Any corporation into which the Warrant Agent may be merged or with which it may
be consolidated or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall
be the successor Warrant Agent under this Warrant Agreement without any further act on the part of the Company or the Warrant Agent.

 

8.3. 
Fees and Expenses of Warrant Agent.

 

8.3.1. 
Remuneration. The Company agrees to pay the Warrant Agent reasonable remuneration for its services as Warrant Agent hereunder
and will reimburse the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution
of its duties hereunder.

 

8.3.2. 
Further Assurances. The Company agrees to perform, execute, acknowledge and deliver, or cause to be performed, executed,
acknowledged and delivered, all such further and other acts, instruments and assurances as may reasonably be required by the Warrant
Agent for the carrying out or performing of the provisions of this Warrant Agreement.

 

8.4. 
Liability of Warrant Agent.

 

8.4.1. 
Reliance on Company Statement. Whenever, in the performance of its duties under this Warrant Agreement, the Warrant Agent
shall deem it necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering
any action hereunder, such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed
to be conclusively proved and established by a statement signed by the Chief Executive Officer, Chief Financial Officer or Chairman
of the Board of the Company and delivered to the Warrant Agent. The Warrant Agent may rely upon such statement for any action taken
or suffered in good faith by it pursuant to the provisions of this Warrant Agreement.

 

8.4.2. 
Indemnity. The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith.
The Company agrees to indemnify the Warrant Agent and hold it harmless against any and all liabilities, including judgments, costs
and reasonable counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Warrant Agreement, except
as a result of the Warrant Agent’s gross negligence, willful misconduct or bad faith.

 

    	 	-13-	 

     

    

 

8.4.3. 
Exclusions. The Warrant Agent shall have no responsibility with respect to the validity of this Warrant Agreement or with
respect to the validity or execution of any Warrant (except its countersignature thereof); nor shall it be responsible for any
breach by the Company of any covenant or condition contained in this Warrant Agreement or in any Warrant; nor shall it be responsible
to make any adjustments required under the provisions of Section 4 hereof or responsible for the manner, method or amount of any
such adjustment or the ascertaining of the existence of facts that would require any such adjustment; nor shall it, by any act
hereunder, be deemed to make any representation or warranty as to the authorization or reservation of any Ordinary Shares to be
issued pursuant to this Warrant Agreement or any Warrant or as to whether any Ordinary Shares will when issued be valid and fully
paid and non-assessable.

 

8.5. 
Acceptance of Agency. The Warrant Agent hereby accepts the agency established by this Warrant Agreement and agrees to perform
the same upon the terms and conditions herein set forth and, among other things, shall account promptly to the Company with respect
to Warrants exercised and concurrently account for, and pay to the Company, all moneys received by the Warrant Agent for the purchase
of shares of the Company’s Ordinary Shares through the exercise of Warrants.

 

8.6. 
Waiver. The Warrant Agent hereby waives any right of set-off or any other right, title, interest or claim of any kind (“Claim”)
in or to any distribution of the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the
date hereof, by and between the Company and the Warrant Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement,
payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.

 

9. 
Miscellaneous Provisions.

 

9.1. 
Successors. All the covenants and provisions of this Warrant Agreement by or for the benefit of the Company or the Warrant
Agent shall bind and inure to the benefit of their respective successors and assigns.

 

9.2. 
Notices. Any notice, statement or demand authorized by this Warrant Agreement to be given or made by the Warrant Agent or
by the Registered Holder of any Warrant to or on the Company shall be delivered by hand or sent by registered or certified mail
or overnight courier service, addressed (until another address is filed in writing by the Company with the Warrant Agent) as follows:

 

Alberton Acquisition
Corporation

Room 1001, 10/F,
Capital Center

151 Gloucester
Road

Wanchai, Hong
Kong

Attn: Bin
(Ben) Wang

 

    	 	-14-	 

     

    

 

with a copy (which
shall not constitute notice) to:

 

White and Williams
LLP

7 Times Square,
Suite 2900

New York, New
York 10036

Attn: Alexandria
E. Kane

 

Any notice, statement
or demand authorized by this Warrant Agreement to be given or made by the Registered Holder of any Warrant or by the Company to
or on the Warrant Agent shall be delivered by hand or sent by registered or certified mail or overnight courier service, addressed
(until another address is filed in writing by the Warrant Agent with the Company), as follows:

 

Continental Stock
Transfer & Trust Company

1 State Street,
30th Floor

New York, NY
10004

 

Any notice, sent pursuant
to this Warrant Agreement shall be effective, if delivered by hand, upon receipt thereof by the party to whom it is addressed,
if sent by overnight courier, on the next business day of the delivery to the courier, and if sent by registered or certified mail
on the third day after registration or certification thereof.

 

9.3. 
Applicable Law. The validity, interpretation, and performance of this Warrant Agreement and of the Warrants shall be governed
in all respects by the laws of the State of New York, without giving effect to conflict of laws. The Company and the Warrant Agent
hereby agree that any action, proceeding or claim against either of them arising out of or relating in any way to this Warrant
Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern
District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company and the
Warrant Agent hereby waive any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any
such process or summons to be served upon the Company or the Warrant Agent may be served by transmitting a copy thereof by registered
or certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in Section 9.2 hereof. Such
mailing shall be deemed personal service and shall be legal and binding upon the party receiving such service in any action, proceeding
or claim.

 

9.4. 
Persons Having Rights under this Warrant Agreement. Nothing in this Warrant Agreement expressed and nothing that may be
implied from any of the provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation
other than the parties hereto and the Registered Holders of the Warrants and, for the purposes of Sections 9.2 hereof, the Representative
and the underwriters, any right, remedy, or claim under or by reason of this Warrant Agreement or of any covenant, condition, stipulation,
promise, or agreement hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Warrant Agreement
shall be for the sole and exclusive benefit of the parties hereto and their successors and assigns and of the Registered Holders
of the Warrants.

 

    	 	-15-	 

     

    

 

9.5. 
Examination of the Warrant Agreement. A copy of this Warrant Agreement shall be available at all reasonable times at the
office of the Warrant Agent in the Borough of Manhattan, City and State of New York, for inspection by the Registered Holder of
any Warrant. The Warrant Agent may require any such Registered Holder to submit his, her or its Warrant for inspection.

 

9.6. 
Counterparts; Facsimile Signatures. This Warrant Agreement may be executed in any number of counterparts, and each of such
counterparts shall, for all purposes, be deemed to be an original, and all such counterparts shall together constitute one and
the same instrument. Facsimile signatures shall constitute original signatures for all purposes of this Warrant Agreement.

 

9.7. 
Effect of Headings. The section headings herein are for convenience only and are not part of this Warrant Agreement and
shall not affect the interpretation thereof

 

9.8. 
Amendments. This Warrant Agreement and any Warrant certificate may be amended by the parties hereto by executing a supplemental
warrant agreement (a “Supplemental Agreement”), without the consent of any of the Warrant Holders, for the purpose
of (i) curing any ambiguity, or curing, correcting or supplementing any defective provision contained herein, or making any other
provisions with respect to matters or questions arising under this Warrant Agreement that is not inconsistent with the provisions
of this Warrant Agreement or the Warrant certificates, (ii) evidencing the succession of another corporation to the Company and
the assumption by any such successor of the covenants of the Company contained in this Warrant Agreement and the Warrants, (iii)
evidencing and providing for the acceptance of appointment by a successor Warrant Agent with respect to the Warrants, (iv) adding
to the covenants of the Company for the benefit of the Registered Holders or surrendering any right or power conferred upon the
Company under this Warrant Agreement, or (viii) amending this Warrant Agreement and the Warrants in any manner that the Company
may deem to be necessary or desirable and that will not adversely affect the interests of the Registered Holders in any material
respect. All other modifications or amendments to this Warrant Agreement, including any amendment to increase the Warrant Price
or shorten the Exercise Period, shall require the written consent of the Registered Holders of a majority of the then outstanding
Warrants. Notwithstanding the foregoing, the Company may extend the duration of the Exercise Period in accordance with Section
3.2 without such consent.

 

9.9. 
Severability. This Warrant Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision
hereof shall not affect the validity or enforceability of this Warrant Agreement or of any other term or provision hereof. Furthermore,
in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of
this Warrant Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid
and enforceable.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 	-16-	 

     

    

 

[SIGNATURE PAGE TO THE
WARRANT AGREEMENT]

 

IN WITNESS WHEREOF, this Warrant Agreement
has been duly executed by the parties hereto as of the day and year first above written.

 

	 	ALBERTON ACQUISITION CORPORATION
	 	 	 
	 	By:	/s/ Bin (Ben) Wang
	 	Name:	Bin (Ben) Wang
	 	Title:	Chief Executive Officer
	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 	 
	 	By:	/s/ Isaac J. Kagan
	 	Name:	Isaac J. Kagan
	 	Title:	Vice President

 

  

    	 	-17-Exhibit 4.2

 

RIGHTS AGREEMENT

 

This Rights Agreement (this “Agreement”) is made as of October 23, 2018 between Alberton Acquisition
Corporation, a British Virgin Islands corporation, with offices at Room 1001, 10/F, Capital Center, 151 Gloucester Road, Wanchai,
Hong Kong (the “Company”), and Continental Stock Transfer& Trust Company, a New York limited liability trust company,
with offices at 1 State Street Plaza, New York, New York 10004 (the “Right Agent”).

 

WHEREAS, the Company
has received a firm commitment from Chardan Capital Markets LLC (“Chardan”), as representative of the several underwriters,
to purchase up to an aggregate of 11,500,000 units, each unit (“Unit”) comprised of one ordinary share of the Company,
no par value, one warrant to purchase one-half of one ordinary share, and one right to receive one-tenth of one ordinary share (a “Public Right”) upon the occurring of the
triggering event described herein, and in connection therewith, will issue and deliver up to an aggregate of 11,500,000 Public
Rights upon consummation of such public offering, 1,500,000 of which are attributable to the over-allotment option (“Public
Offering”);

 

WHEREAS, simultaneously
with the consummation of the Public Offering, the Company will issue and deliver up to an aggregate of 330,000 rights underlying
private units (the “Private Rights”);

 

WHEREAS, the Company
may issue up to an additional 1,500,000 Rights as part of the Units issued in consideration of certain working capital loans that
may be made by the Company’s Initial Stockholder, officers, directors or their affiliates (the “Working Capital Loan
Rights”);

 

WHEREAS, in connection
with the Public Offering, the Company will issue and deliver up to 500,000 rights (underlying unit purchase options) to Chardan
or its designees (“Chardan Rights” and, together with the Public Rights, the Private Rights and the Working Capital
Loan Rights, the “Rights”);

  

WHEREAS, the Company
has filed with the Securities and Exchange Commission a Registration Statement on Form S-1, File No. 333-227652, for the registration,
under the Securities Act of 1933, as amended of, among other securities, the Public Rights and the ordinary shares issuable to
the holders of the Public Rights;

 

WHEREAS, the Company
desires the Right Agent to act on behalf of the Company, and the Right Agent is willing to so act, in connection with the issuance,
registration, transfer and exchange of the Rights;

 

WHEREAS, the Company
desires to provide for the form and provisions of the Rights, the terms upon which they shall be issued, and the respective rights,
limitation of rights, and immunities of the Company, the Right Agent, and the holders of the Rights; and

 

WHEREAS, all acts and
things have been done and performed which are necessary to make the Rights, when executed on behalf of the Company and countersigned
by or on behalf of the Right Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize
the execution and delivery of this Agreement.

 

     

     

    

 

NOW, THEREFORE, in
consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

1. Appointment of
Right Agent. The Company hereby appoints the Right Agent to act as agent for the Company for the Rights, and the Right Agent
hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement.

 

2. Rights.

 

2.1. Form of Right.
Each Right shall be issued in registered form only, shall be in substantially the form of Exhibit A hereto, the provisions of which
are incorporated herein and shall be signed by, or bear the facsimile signature of, the Chairman of the Board, President or Chief
Executive Officer and Chief Financial Officer of the Company and shall bear a facsimile of the Company’s seal. In the event
the person whose facsimile signature has been placed upon any Right shall have ceased to serve in the capacity in which such person
signed the Right before such Right is issued, it may be issued with the same effect as if he or she had not ceased to be such at
the date of issuance.

 

2.2. Effect
of Countersignature. Unless and until countersigned by the Right Agent pursuant to this Agreement, a Right shall be invalid
and of no effect and may not be exchanged for ordinary shares.

 

2.3. Registration.

 

2.3.1. Right
Register. The Right Agent shall maintain books (“Right Register”) for the registration of original issuance and
the registration of transfer of the Rights. Upon the initial issuance of the Rights, the Right Agent shall issue and register the
Rights in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered
to the Right Agent by the Company.

 

2.3.2. Registered
Holder. Prior to due presentment for registration of transfer of any Right, the Company and the Right Agent may deem and treat
the person in whose name such Right shall be registered upon the Right Register (“registered holder”) as the absolute
owner of such Right and of each Right represented thereby (notwithstanding any notation of ownership or other writing on the Right
Certificate made by anyone other than the Company or the Right Agent), for the purpose of the exchange thereof, and for all other
purposes, and neither the Company nor the Right Agent shall be affected by any notice to the contrary.

 

2.4. Detachability
of Rights. The securities comprising the Units, including the Rights, will not be separately transferable until the ninetieth
(90th) day after the date hereof unless Chardan Capital Markets LLC (“Chardan”) informs the Company of its
decision to allow earlier separate trading, but in no event will separate trading of the securities comprising the Units begin
until (i) the Company files a Current Report on Form 8-K which includes an audited balance sheet reflecting the receipt by the
Company of the gross proceeds of the Public Offering including the proceeds received by the Company from the exercise of the over-allotment
option, if the over-allotment option is exercised on the date hereof, and (ii) the Company issues a press release and files a Current
Report on Form 8-K announcing when such separate trading shall begin.

 

    	 	2	 

     

    

 

3. Terms and Exchange
of Rights.

 

3.1. Rights. Each
Right shall entitle the holder thereof to receive one-tenth of one ordinary share upon the occurring of the Exchange Event (described
below). No additional consideration shall be paid by a holder of Rights in order to receive his, her or its ordinary shares upon
an Exchange Event as the purchase price for such ordinary shares has been included in the purchase price for the Units. In no event
will the Company be required to net cash settle the Rights.

 

3.2. Exchange Event.
The Exchange Event shall be the Company’s consummation of the initial Business Combination (as defined in the Company’s
Amended and Restated Memorandum and Articles).

 

3.3. Exchange of Rights.

 

3.3.1. Issuance
of Certificates. As soon as practicable upon the occurrence of the Exchange Event, the Company shall direct holders of the
Rights to return their Rights certificates to the Right Agent. Upon receipt of a valid Rights certificate, the Company shall issue
to the registered holder of such Right(s) a certificate or certificates for the full number of ordinary shares to which he, she
or it is entitled, registered in such name or names as may be directed by him, her or it. Notwithstanding the foregoing, or any
provision contained in this Rights Agreement to the contrary, in no event will the Company be required to net cash settle the Rights.
The Company shall not issue fractional shares upon exchange of Rights. At the time of the Exchange Event, the Company will either
instruct the Rights Agent to round up to the nearest whole ordinary share or otherwise inform it how fractional shares will be
addressed, in accordance with British Virgin Islands law.

 

3.3.2. Valid
Issuance. All ordinary shares issued upon the Exchange Event in conformity with this Agreement, and registered on the Company’s
register of members, shall be validly issued, fully paid and non-assessable.

 

3.3.3. Date of Issuance.
Each person in whose name any such certificate for ordinary shares is issued shall for all purposes be deemed to have become the
holder of record of such shares on the date of the Exchange Event, irrespective of the date of the delivery of such certificate.

 

3.3.4. Company Not
Surviving Following Exchange Event. If the Exchange Event results in the Company not continuing as the publicly held reporting
entity, the definitive agreement with the target business for a Business Combination will provide for the holders of Rights to
receive the same per share consideration the holders of the ordinary shares will receive in such transaction, for the number of
shares such holder is entitled to pursuant to Section 3.1 above. If the Company is not the surviving entity in a Business Combination,
the holder of Rights must affirmatively elect to convert the Rights in order to receive the shares underlying such Rights and must
return the Rights certificates to the Company.

 

    	 	3	 

     

    

 

3.4. Duration of Rights.
If an Exchange Event does not occur within the time period set forth in the Company’s Amended and Restated Memorandum and
Articles of Association, as the same may be amended from time to time, the Rights shall expire and shall be worthless.

 

4. Transfer and
Exchange of Rights.

 

4.1. Registration
of Transfer. The Right Agent shall register the transfer, from time to time, of any outstanding Right upon the Right Register,
upon surrender of such Right for transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate
instructions for transfer. Upon any such transfer, a new Right certificate representing an equal aggregate number of Rights shall
be issued and the old Right certificate shall be cancelled by the Right Agent. The Right certificate(s) so cancelled shall be delivered
by the Right Agent to the Company from time to time upon request.

 

4.2. Procedure for
Surrender of Rights. Rights may be surrendered to the Right Agent, together with a written request for exchange or transfer,
and thereupon the Right Agent shall issue in exchange therefor one or more new Right certificate(s) as requested by the registered
holder of the Rights so surrendered, representing an equal aggregate number of Rights; provided, however, that in the event that
a Right surrendered for transfer bears a restrictive legend, the Right Agent shall not cancel such Right certificate and issue
new Right certificate(s) in exchange therefor until the Right Agent has received an opinion of counsel for the Company stating
that such transfer may be made and indicating whether the new Right certificate(s) must also bear a restrictive legend.

 

4.3. Fractional Rights.
The Right Agent shall not be required to effect any registration of transfer or exchange which will result in the issuance of a
Right certificate for a fraction of a Right.

 

4.4. Service Charges.
No service charge shall be made for any exchange or registration of transfer of Rights.

 

4.5. Adjustments
to Conversion Ratios. The number of ordinary shares that the holders of Rights are entitled to receive as a result of the occurrence
of the Exchange Event shall be equitably adjusted to reflect appropriately the effect of any share split, reverse share split,
share dividend, reorganization, recapitalization, reclassification, combination, exchange of shares or other like change with respect
to the ordinary shares occurring on or after the date hereof and prior to the Exchange Event.

 

4.6. Right
Execution and Countersignature. The Right Agent is hereby authorized to countersign and to deliver, in accordance with the
terms of this Agreement, the Rights required to be issued pursuant to the provisions of this Section 4, and the Company, whenever
required by the Right Agent, will supply the Right Agent with Rights duly executed on behalf of the Company for such purpose.

 

    	 	4	 

     

    

 

5. Other Provisions
Relating to Rights of Holders of Rights.

 

5.1. No
Rights as Shareholder. Until exchange of a Right for ordinary shares as provided for herein, a Right does not entitle the registered
holder thereof to any of the rights of a shareholder of the Company, including, without limitation, the right to receive dividends,
or other distributions, exercise any preemptive rights to vote or to consent or to receive notice as shareholders in respect of
the meetings of shareholders or the election of directors of the Company or any other matter.

 

5.2. Lost,
Stolen, Mutilated, or Destroyed Right Certificate(s). If any Right certificate(s) is lost, stolen, mutilated, or destroyed,
the Company and the Right Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall,
in the case of a mutilated Right certificate, include the surrender thereof), issue a new Right certificate of like denomination,
tenor, and date as the Right certificate so lost, stolen, mutilated, or destroyed. Any such new Right certificate shall constitute
a substitute contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated, or destroyed Right certificate
shall be at any time enforceable by anyone.

 

5.3. Reservation
of Shares. The Company shall at all times reserve and keep available a number of its authorized but unissued ordinary shares
that will be sufficient to permit the exchange of all outstanding Rights issued pursuant to this Agreement.

 

6. Concerning the
Right Agent and Other Matters.

 

6.1. Payment
of Taxes. The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company or the
Right Agent in respect of the issuance or delivery of ordinary shares upon the exchange of Rights, but the Company shall not be
obligated to pay any transfer taxes in respect of the Rights or such shares.

 

6.2. Resignation,
Consolidation, or Merger of Right Agent.

 

6.2.1. Appointment
of Successor Right Agent. The Right Agent, or any successor to it hereafter appointed, may resign its duties and be discharged
from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the
office of the Right Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing
a successor Right Agent in place of the Right Agent. If the Company shall fail to make such appointment within a period of 30 days
after it has been notified in writing of such resignation or incapacity by the Right Agent or by the holder of the Right (who shall,
with such notice, submit his, her or its Right for inspection by the Company), then the holder of any Right may apply to the Supreme
Court of the State of New York for the County of New York for the appointment of a successor Right Agent at the Company’s
cost. Any successor Right Agent, whether appointed by the Company or by such court, shall be a corporation organized and existing
under the laws of the State of New York, in good standing and having its principal office in the Borough of Manhattan, City and
State of New York, and authorized under such laws to exercise corporate trust powers and subject to supervision or examination
by federal or state authority. After appointment, any successor Right Agent shall be vested with all the authority, powers, rights,
immunities, duties, and obligations of its predecessor Right Agent with like effect as if originally named as Right Agent hereunder,
without any further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Right Agent shall execute
and deliver, at the expense of the Company, an instrument transferring to such successor Right Agent all the authority, powers,
and rights of such predecessor Right Agent hereunder; and upon request of any successor Right Agent the Company shall make, execute,
acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in and confirming to such successor
Right Agent all such authority, powers, rights, immunities, duties, and obligations.

 

    	 	5	 

     

    

 

6.2.2. Notice of
Successor Right Agent. In the event a successor Right Agent shall be appointed, the Company shall give notice thereof to the
predecessor Right Agent and the transfer agent for the ordinary shares not later than the effective date of any such appointment.

 

6.2.3. Merger
or Consolidation of Right Agent. Any corporation into which the Right Agent may be merged or with which it may be consolidated
or any corporation resulting from any merger or consolidation to which the Right Agent shall be a party shall be the successor
Right Agent under this Agreement without any further act.

 

6.3. Fees and Expenses
of Right Agent.

 

6.3.1. Remuneration.
The Company agrees to pay the Right Agent reasonable remuneration for its services as such Right Agent hereunder and will reimburse
the Right Agent upon demand for all expenditures that the Right Agent may reasonably incur in the execution of its duties hereunder.

 

6.3.2. Further
Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged,
and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Right Agent for
the carrying out or performing of the provisions of this Agreement.

 

6.4. Liability of
Right Agent.

 

6.4.1. Reliance
on Company Statement. Whenever in the performance of its duties under this Right Agreement, the Right Agent shall deem it necessary
or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder,
such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively
proved and established by a statement signed by the President, Chief Executive Officer or Chief Financial Officer and delivered
to the Right Agent. The Right Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant
to the provisions of this Agreement.

 

6.4.2. Indemnity.
The Right Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. The Company agrees
to indemnify the Right Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable counsel
fees, for anything done or omitted by the Right Agent in the execution of this Agreement except as a result of the Right Agent’s
gross negligence, willful misconduct, or bad faith.

 

    	 	6	 

     

    

 

6.4.3. Exclusions.
The Right Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or
execution of any Right (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any
covenant or condition contained in this Agreement or in any Right; nor shall it by any act hereunder be deemed to make any representation
or warranty as to the authorization or reservation of any ordinary shares to be issued pursuant to this Agreement or any Right
or as to whether any ordinary shares will when issued be valid and fully paid and non-assessable.

 

6.5. Acceptance
of Agency. The Right Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the
terms and conditions herein set forth.

 

6.6. Waiver.
The Right Agent hereby waives any right of set-off or any other right, title, interest or claim of any kind (“Claim”)
in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of
the date hereof, by and between the Company and the Right Agent as trustee thereunder) and hereby agrees not to seek recourse,
reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.

 

7. Miscellaneous
Provisions.

 

7.1. Successors.
All the covenants and provisions of this Agreement by or for the benefit of the Company or the Right Agent shall bind and inure
to the benefit of their respective successors and assigns.

 

7.2. Notices.
Any notice, statement or demand authorized by this Right Agreement to be given or made by the Right Agent or by the holder of any
Right to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified
mail or private courier service within five days after deposit of such notice, postage prepaid, addressed (until another address
is filed in writing by the Company with the Right Agent), as follows:

 

Alberton Acquisition Corporation

Room 1001, 10/F, Capital Center

151 Gloucester Road

Wanchai, Hong Kong

Attn: Bin (Ben) Wang, Chief Executive
Officer

 

    	 	7	 

     

    

 

Any notice, statement or demand authorized
by this Agreement to be given or made by the holder of any Right or by the Company to or on the Right Agent shall be sufficiently
given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five days
after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Right Agent with the
Company), as follows:

 

Continental Stock Transfer
& Trust Company

1 State Street, 30th
Floor

New York, New York 10004

Attn: Steve Nelson

 

with a copy (which shall not constitute
notice) in each case to:

 

White and Williams LLP

7 Times Square, Suite 2900

New York, NY 10036

Attn: Alexandria E. Kane, Esq.

 

and

Chardan Capital Markets, LLC

17 State Street, 21st
Floor

New York, NY 10004

Attn: George Kaufman

 

and

Loeb & Loeb LLP

345 Park Avenue

New York, NY 10154

Attn: Giovanni Caruso, Esq.

 

7.3. Applicable Law.
The validity, interpretation, and performance of this Agreement and of the Rights shall be governed in all respects by the laws
of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive
laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim against it arising out of or relating
in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District
Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive.
The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any
such process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail,
return receipt requested, postage prepaid, addressed to it at the address set forth in Section 7.2 hereof. Such mailing shall be
deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim.

 

    	 	8	 

     

    

 

7.4. Persons Having
Rights under this Agreement. Nothing in this Agreement expressed and nothing that may be implied from any of the provisions
hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto
and the registered holders of the Rights and, for the purposes of Sections 3, 7.4 and 7.8 hereof, Chardan, any right, remedy, or
claim under or by reason of this Right Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. Chardan
shall be deemed to be a third-party beneficiary of this Agreement with respect to Sections 3, 7.4 and 7.8 hereof. All covenants,
conditions, stipulations, promises, and agreements contained in this Right Agreement shall be for the sole and exclusive benefit
of the parties hereto (and Chardan with respect to the Sections 3, 7.4 and 7.8 hereof) and their successors and assigns and of
the registered holders of the Rights. The provisions of this Section 7.4 may not be modified, amended or deleted without the prior
written consent of Chardan.

 

7.5. Examination
of the Right Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Right Agent
in the Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Right. The Right Agent
may require any such holder to submit his, her or its Right for inspection by it.

 

7.6. Counterparts.
This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all
purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

7.7. Effect of Headings.
The Section headings herein are for convenience only and are not part of this Right Agreement and shall not affect the interpretation
thereof.

 

7.8. Amendments.
This Agreement may be amended by the parties hereto without the consent of any registered holder for the purpose of curing any
ambiguity, or of curing, correcting or supplementing any defective provision contained herein or adding or changing any other provisions
with respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties
deem shall not adversely affect the interest of the registered holders. All other modifications or amendments shall require the
written consent or vote of the registered holders of a majority of the then outstanding Rights. The provisions of this Section
7.8 may not be modified, amended or deleted without the prior written consent of Chardan.

 

7.9. Severability.
This Right Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not
affect the validity or enforceability of this Right Agreement or of any other term or provision hereof. Furthermore, in lieu of
any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Right
Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

[Signature Page Follows]

 

    	 	9	 

     

    

 

IN WITNESS WHEREOF,
this Agreement has been duly executed by the parties hereto as of the day and year first above written.

 

	ALBERTON ACQUISITION CORPORATION
	 
	By:	/s/
    Bin (Ben) Wang	 
	 	Bin (Ben) Wang, Chief Executive Officer	 

 

	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Right Agent
	 	 
	By:	/s/ Isaac J. Kagan     	 
	Name:	Isaac J. Kagan	 
	Title:	Vice President	 

 

    	 	10	 

     

    

 

Exhibit A

Form of Right

 

 [Omitted]

 

 

 

    	 	11

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