Document:

Exhibit 10.10

 

COMMON STOCK PURCHASE
AGREEMENT

 

This Common Stock
Purchase Agreement (the “Agreement”), dated as of December 23, 2020 (the “Execution Date”), is
entered into by and between B2Digital, Incorporated, a Delaware corporation (the “Company”), and Triton Funds
LP, a Delaware limited partnership (the “Investor”).

 

RECITAL

 

WHEREAS, upon
the terms and subject to the conditions contained herein, the Investor agrees to purchase, and the Company agrees to sell, up
to Two Million Five Hundred Thousand Dollars ($2,500,000) of common stock, par value $0.00001 per share (the “Common
Stock”), of the Company, the resales of which shares of Common Stock shall be registered under the Securities Act of
1933, as amended (“1933 Act”) pursuant to an effective Registration Statement on Form S-1.  

  

NOW THEREFORE,
in consideration of the foregoing recital, which shall be considered an integral part of this Agreement, the covenants and agreements
set forth hereafter, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the
Company and the Investor hereby agree as follows:

 

AGREEMENT

 

SECTION I

DEFINITIONS

 

For all purposes
of and under this Agreement, the following terms shall have the respective meanings below, and such meanings shall be equally applicable
to the singular and plural forms of such defined terms.

  

“1934 Act” shall mean
the Securities Exchange Act of 1934, as amended, or any similar federal statute, and the rules and regulations of the SEC
thereunder, all as the same will then be in effect.

 

“Administrative Fee” shall
mean $15,000 payable by the Company to the Investor from the Initial Closing.

 

“Business Day” shall mean
any day on which the Principal Market for the Purchased Shares is open for trading from the hours of 9:30 am until 4:00 pm eastern
time.

 

“Closing” shall mean
the date that is no later than five (5) Business Days after the Purchase Notice Date.

 

“Commitment Period”
shall mean the period beginning on the Business Day immediately following the Execution Date and ending on the expiration of
this Agreement.

 

“Minimum Closing Price”
shall mean the closing price of the Common Stock that is equal to or greater than $0.0075.

 

“Principal Market”
shall mean the New York Stock Exchange, the NYSE Amex, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global
Select Market or the OTC Markets, whichever is the market on which the Common Stock is listed.

 

“Purchase Notice”
shall mean the written notice sent to the Investor by the Company, which Purchase Notice shall state the total amount of
Purchased Shares that the Company intends to sell to the Investor pursuant to the terms of this Agreement based on the
formula set forth in Section 2.1 hereof.

 

 

 

    	 	1	 

     

    

 

“Purchased Shares”
shall mean shares of Common Stock issued pursuant to the terms of this Agreement.

 

“Investment Amount”
shall mean the total dollar amount to be sold by the Company at a Closing, not to exceed Two Hundred and Fifty Thousand
Dollars ($250,000).

 

“Registration
Statement” means the Registration Statement on Form S-1 to be filed with the SEC registering the Purchased Shares
issuable hereunder.

 

“SEC” shall mean the U.S.
Securities and Exchange Commission.

 

 

SECTION II

PURCHASE AND SALE
OF COMMON STOCK

 

2.1 PURCHASE
AND SALE OF PURCHASED SHARES. Subject to the terms and conditions set forth herein, the Company shall sell to the
Investor, and the Investor shall purchase from the Company, that number of Purchased Shares equal to the Investment
Amount. The Investment Amount shall be calculated based on the total number of Purchased
Shares set forth in the Purchase Notice delivered to Investor as more particularly set forth in Section 2.2 below, multiplied
by $0.005.

 

2.2 DELIVERY
OF PURCHASE NOTICE. Subject to the terms and conditions herein, the Company may deliver the Purchase Notice to the
Investor during the Commitment Period setting forth the total number of Purchased Shares to be purchased by Investor, which
Purchase Notice shall be in the form attached hereto as Exhibit A and incorporated herein by reference. During
the Commitment Period, the Company shall not submit a Purchase Notice until the previous Closing has been completed. No
Purchase Notice will be made in an amount less than twenty-five thousand dollars ($25,000) or greater than two hundred and
fifty thousand dollars ($250,000).

 

2.3 CONDITIONS
TO INVESTOR’S OBLIGATIONS. Notwithstanding anything to the contrary in this Agreement, the Investor shall not be obligated
to purchase any Purchased Shares at the Closing unless each of the following conditions are satisfied:

 

		(i)	the Registration Statement shall remain effective and available for sale of the Purchased Shares at all times until the Closing;

 

		(ii)	at the Closing, the Common Stock shall have been listed or quoted for trading on the Principal Market and shall not have been
suspended from trading, at any time, after the Execution Date and the Company shall not have been notified of any pending or threatened
proceeding or other action to suspend the trading of the Common Stock;

 

		(iii)	no injunction shall have been issued and remain in force, or action commenced by a governmental authority which has not
                                                                 been stayed or abandoned, prohibiting the purchase or the issuance of the Purchased Shares; and

 

		(iv)	the issuance of the Purchased Shares will not violate any requirements of the Principal Market.

 

		(v)	Minimum Closing Price is met on the date Investor receives the Purchased Shares as DWAC Shares by custodian.

 

If any of the events described in clauses
(i) through (v) above occurs prior to the Closing, then the Investor shall have no obligation to purchase the Purchased Shares
set forth in the Purchase Notice.

 

 

 

 

    	 	2	 

     

    

 

2.4 MECHANICS
OF PURCHASE OF PURCHASED SHARES BY INVESTOR. The Closing of the purchase of the Purchased Shares set forth in the
Purchase Notice shall occur no later than five (5) Business Days following the receipt by Investor’s custodian of the
Purchased Shares (the “Purchase Notice Date”); it being understood that the Investor shall deliver the Purchase
Notice to Investor’s custodian on the Purchase Notice Date. In the event the closing price of the Company’s
Common Stock falls below the Minimum Closing Price from the time the Investor receives the Purchase Notice until the end of
the Business Day on the Purchase Notice Date, the Investor may, through prompt written notice to the Company, elect to reduce
the Investment Amount and DWAC the balance of the Purchased Shares not elected to be purchased back to the Company’s
Transfer Agent within three (3) business days from receipt of written notice provided by the Investor to the Company. In the
event that the Investor elects to reduce the Investment Amount pursuant to this provision and the balance of the Purchased
Shares not elected to be purchased by the Investor are not received by the Company’s transfer agent within three (3)
business days of the receipt of written notice from the Investor to the Company, the Company is hereby entitled to request
reasonable restrictions on the transferability and sale of the shares and the Investor hereby consents to those restrictions.
The Purchase Notice Date shall be deemed delivered (i) on the day it is delivered to Investor on a Business Day prior to 9:30
am eastern time; (ii) if it is delivered on a day other than a Business Day or on a Business Day after 9:30 am eastern time,
it shall be on the day that is the next subsequent Business Day. The Investor shall deliver the Investment Amount by wire
transfer of immediately available funds to an account designated by the Company set forth in the Purchase Notice. In
addition, on or prior to the Closing, each of the Company and Investor shall deliver to each other all documents, instruments
and writings required to be delivered or reasonably requested by either of them pursuant to this Agreement in order to
implement and effect the transactions contemplated herein.

 

2.5 LIMITATION
ON AMOUNT OF OWNERSHIP. Notwithstanding anything to the contrary in this Agreement, in no event shall the Investor be entitled
to purchase that number of Purchased Shares, which when added to the sum of the number of shares of Common Stock beneficially owned
(as such term is defined under Section 13(d) and Rule 13d-3 of the 1934 Act), by the Investor, would exceed 9.99% of the number
of shares of Common Stock outstanding on the Purchase Notice Date, as determined in accordance with Rule 13d-1(j) of the 1934 Act.

 

SECTION III

INVESTOR’S
REPRESENTATIONS, WARRANTIES AND COVENANTS

 

By executing this
Agreement, the Investor represents, warrants and agrees that:

 

3.1 POWER AND
AUTHORITY. The undersigned has full power and authority to act on behalf of and bind the Investor to its obligations
as set forth herein and making these representations, warranties and agreements.

 

3.2 EFFECTIVE
REGISTRATION STATEMENT. The Purchased Shares are being offered pursuant to the Registration Statement and Investor is
solely relying on the Registration Statement and all periodic filings made by the Company under the 1934 Act (“SEC Filings”),
in determining whether to purchase the Purchased Shares.

 

3.3 REVIEW OF
SEC FILINGS. Investor has had full opportunity to read and review the Registration Statement, the documents incorporated
therein by reference, and consult with an attorney regarding such Registration Statement.

 

3.4 ACCURACY
OF REPRESENTATIONS. The information provided herein and these representations, warranties and agreements are accurate
and complete, and shall remain so until the undersigned notifies the Company otherwise.

 

3.5 NO SHORT
SALES. Neither Investor or its affiliates shall engage in any short sales or similar transactions following the date
of execution of this Agreement until termination of the Commitment Period.  

 

 

 

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SECTION IV

REPRESENTATIONS
AND WARRANTIES OF THE COMPANY

 

Except as disclosed
on the Company’s SEC Filings, the Company represents and warrants to the Investor that:

 

4.1 ORGANIZATION
AND QUALIFICATION. The Company is a corporation duly organized and validly existing in good standing under the laws of the
State of Delaware and has the requisite corporate power and authorization to own its properties and to carry on its business as
now being conducted. Both the Company and the companies it owns or controls (“Subsidiaries”) are duly qualified to
do business and are in good standing in every jurisdiction in which its ownership of property or the nature of the business conducted
by it makes such qualification necessary, except to the extent that the failure to be so qualified or be in good standing would
not have a Material Adverse Effect. As used in this Agreement, “Material Adverse Effect” means a change,
event, circumstance, effect or state of facts that has had or is reasonably likely to have, a material adverse effect on the business,
properties, assets, operations, results of operations, financial condition or prospects of the Company and its Subsidiaries, if
any, taken as a whole, or on the transactions contemplated hereby or by the agreements and instruments to be entered into in connection
herewith, or on the authority or ability of the Company to perform its obligations under the Agreement.

 

4.2 AUTHORIZATION;
ENFORCEMENT; COMPLIANCE WITH OTHER INSTRUMENTS.

 

		(i)	The Company has the requisite corporate power and authority to enter into the Agreement and to issue the Purchased Shares in
accordance with the terms hereof and thereof.

 

		(ii)	The execution and delivery of the Agreement by the Company and the consummation by it of the  transactions contemplated
hereby and thereby, including without limitation the issuance of the Purchased Shares pursuant to this Agreement, have been duly
and validly authorized by the Company’s Board of Directors and no further consent or authorization is required by the Company,
its Board of Directors, or its shareholders.

		(iii)	The Agreements have been duly and validly executed and delivered by the Company.

 

		(iv)	The Agreements constitute the valid and binding obligations of the Company enforceable against the Company in accordance
                                                                with their terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy,
                                                                insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of
                                                                creditors’ rights and remedies.

 

4.3 ISSUANCE
OF SHARES. The Company has reserved the amount of Purchased Shares included in the Registration Statement for issuance pursuant
to the Agreement, which have been duly authorized and reserved (subject to adjustment pursuant to the Company’s covenant
set forth in Section 5.5 below) pursuant to this Agreement. Upon issuance in accordance with this Agreement, the
Purchased Shares will be validly issued, fully paid for and non-assessable and free from all taxes, liens and charges with respect
to the issuance thereof. In the event the Company cannot register a sufficient number of Purchased Shares for issuance pursuant
to this Agreement, the Company will use its best efforts to authorize and reserve for issuance the number of Purchased Shares required
for the Company to perform its obligations hereunder as soon as reasonably practicable.

 

4.4 INSURANCE.
Each of the Company’s Subsidiaries are insured by insurers of recognized financial responsibility against such losses and
risks and in such amounts as management of the Company reasonably believes to be prudent and customary in the businesses in which
the Company and its Subsidiaries are engaged. Neither the Company nor any of its Subsidiaries has been refused any insurance coverage
sought or applied for and neither the Company nor its Subsidiaries has any reason to believe that it will not be able to renew
its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be
necessary to continue its business at a cost that would not have a Material Adverse Effect.

 

 

 

    	 	4	 

     

    

 

4.5 DILUTIVE
EFFECT. The Company’s executive officers and directors have studied and fully understand the nature of the transactions
contemplated by this Agreement and recognize that the issuance of the Purchased Shares will have a dilutive effect on the shareholders
of the Company. The Board of Directors of the Company has concluded, in its good faith business judgment, and with full understanding
of the implications, that such issuance is in the best interests of the Company. The Company specifically acknowledges that, subject
to such limitations as are expressly set forth in the Agreement, its obligation to issue shares of Common Stock pursuant to this
Agreement is absolute and unconditional regardless of the dilutive effect that such issuance may have on the ownership interests
of other shareholders of the Company.

  

SECTION V

COVENANTS OF THE
COMPANY

 

5.1 BEST EFFORTS.
The Company shall use all commercially reasonable efforts to timely satisfy each of the conditions set forth in this Agreement.

 

5.2 REPORTING
STATUS. Until one of the following occurs, the Company shall file all reports required to be filed with the SEC pursuant to
the 1934 Act, and the Company shall not terminate its status, or take an action or fail to take any action, which would terminate
its status as a reporting company under the 1934 Act: (i) this Agreement terminates pursuant to Section 8 and
the Investor has the right to sell all of the Purchased Shares, or (ii) the date on which the Investor has sold all the Purchased
Shares.

 

5.3 USE OF PROCEEDS.
The Company will use the proceeds from the sale of the Purchased Shares for general corporate and working capital purposes and
acquisitions or assets, businesses or operations or for other purposes that the Board of Directors, in good faith deem to be in
the best interest of the Company.

 

5.4 FINANCIAL
INFORMATION. During the Commitment Period, the Company agrees to make available to the Investor via EDGAR or other electronic
means the following documents and information on the forms set forth: (i) its Annual Reports on Form 10-K, its Quarterly Reports
on Form 10-Q, any Current Reports on Form 8-K and any Registration Statements or amendments filed pursuant to the 1933 Act; (ii)
copies of any notices and other information made available or given to the shareholders of the Company generally, contemporaneously
with the making available or giving thereof to the shareholders; and (iii) within two (2) calendar days of filing or delivery thereof,
copies of all documents filed with, and all correspondence sent to, the Principal Market, any securities exchange or market, or
the Financial Industry Regulatory Association, unless such information is material nonpublic information.

 

5.5 RESERVATION
OF PURCHASED SHARES. The Company shall take all action necessary to at all times have authorized and reserved the amount of
Purchased Shares included in the Registration Statement for issuance pursuant to the Agreement. In the event that the Company determines
that it does not have a sufficient number of authorized shares of Common Stock to reserve and keep available for issuance as described,
the Company shall use all commercially reasonable efforts to increase the number of authorized shares of Common Stock by seeking
shareholder approval for the authorization of such additional shares.

 

5.6 LISTING.
The Company shall maintain the listing of all of the Purchased Shares on the Principal Market and each other national securities
exchange and automated quotation system, if any, upon which shares of Common Stock are then listed (subject to official notice
of issuance) and shall maintain, such listing of all Purchased Shares issuable under the terms of the Agreement. Neither the Company
nor any of its Subsidiaries shall take any action which would be reasonably expected to result in the delisting or suspension
of the Common Stock on the Principal Market (excluding suspensions of not more than one (1) Business Day resulting from business
announcements by the Company). The Company shall promptly provide to the Investor copies of any notices it receives from the Principal
Market regarding the continued eligibility of the Common Stock for listing on such automated quotation system or securities exchange.
The Company shall pay all fees and expenses in connection with satisfying its obligations under this Section 5.6.

 

5.7 CORPORATE
EXISTENCE. The Company shall use all commercially reasonable efforts to preserve and continue the corporate existence of the
Company.

 

 

 

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5.8 NOTICE OF
CERTAIN EVENTS AFFECTING REGISTRATION. The Company shall promptly notify the Investor upon the occurrence of any of the following
events in respect of a Registration Statement or related prospectus in respect of an offering of the Purchased Shares: (i) receipt
of any request for additional information by the SEC or any other federal or state governmental authority during the period of
effectiveness of the Registration Statement for amendments or supplements to the Registration Statement or related prospectus;
(ii) the issuance by the SEC or any other federal or state governmental authority of any stop order suspending the effectiveness
of any Registration Statement or the initiation of any proceedings for that purpose; (iii) receipt of any notification with respect
to the suspension of the qualification or exemption from qualification of any of the Purchased Shares for sale in any jurisdiction
or the initiation or notice of any proceeding for such purpose; (iv) the happening of any event that makes any statement made in
such Registration Statement or related prospectus or any document incorporated or deemed to be incorporated therein by reference
untrue in any material respect or that requires the making of any changes in the Registration Statement, related prospectus or
documents so that, in the case of a Registration Statement, it will not contain any untrue statement of a material fact or omit
to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and that in
the case of the related prospectus, it will not contain any untrue statement of a material fact or omit to state any material fact
required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were
made, not misleading; and (v) the Company’s reasonable determination that a post-effective amendment or supplement to the
Registration Statement would be appropriate, and the Company shall promptly make available to Investor any such supplement or amendment
to the related prospectus.

 

5.9 TRANSFER
AGENT. The Company shall deliver instructions to its transfer agent to issue Purchased Shares to the Investor that are issued
to the Investor pursuant to the Agreement.

 

5.10 ACKNOWLEDGEMENT
OF TERMS. The Company hereby represents and warrants to the Investor that: (i) it is voluntarily entering into this Agreement
of its own free will, (ii) it is not entering this Agreement under economic duress, (iii) the terms of this Agreement are reasonable
and fair to the Company, and (iv) the Company has had independent legal counsel of its own choosing review this Agreement, advise
the Company with respect to this Agreement, and represent the Company in connection with this Agreement.

 

SECTION VI

EXPIRATION

 

This Agreement
shall expire upon the earlier to occur of:

 

6.1 that date
when the Investor has purchased an aggregate of Two Million Five Hundred Thousand Dollars ($2,500,000) in Purchased Shares pursuant
to this Agreement; or

 

6.2 June 30,
2021.

 

Any and all Purchased
Shares issuable to Investor, or penalties or other amounts, if any, due under this Agreement shall be immediately payable and due
Investor upon expiration of this Agreement.

 

SECTION VII

INDEMNIFICATION

 

In
consideration of the parties mutual obligations set forth in the Agreement, the Company (the “Indemnitor”)
shall defend, protect, indemnify and hold harmless the Investor and all of the investor’s shareholders, officers,
directors, employees, counsel, and direct or indirect investors and any of the foregoing person’s agents or other
representatives (including, without limitation, those retained in connection with the transactions contemplated by this
Agreement) (collectively, the “Indemnitees”) from and against any and all actions, causes of action, suits,
claims, losses, costs, penalties, fees, liabilities and damages, and reasonable expenses in connection therewith
(irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and
including reasonable attorneys’ fees and disbursements (the “Indemnified Liabilities”), incurred
by any Indemnitee as a result of, or arising out of, or relating to (I) any misrepresentation or breach of any representation
or warranty made by the Indemnitor or any other certificate, instrument or document contemplated hereby or thereby; (II) any
breach of any covenant, agreement or obligation of the Indemnitor contained in the Agreement or any other certificate,
instrument or document contemplated hereby or thereby; or (III) any cause of action, suit or claim brought or made against
such Indemnitee by a third party and arising out of or resulting from the execution, delivery, performance or enforcement of
the Agreement or any other certificate, instrument or document contemplated hereby or thereby, except insofar as any such
misrepresentation, breach or any untrue statement, alleged untrue statement, omission or alleged omission is made in reliance
upon and in conformity with information furnished to Indemnitor which is specifically intended for use in the preparation of
any such Registration Statement, preliminary prospectus, prospectus or amendments to the prospectus. To the extent that the
foregoing undertaking by the Indemnitor may be unenforceable for any reason, the Indemnitor shall make the maximum
contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable
law. The indemnity provisions contained herein shall be in addition to any cause of action or similar rights Indemnitor may
have, and any liabilities the Indemnitor or the Indemnitees may be subject to.

 

 

 

    	 	6	 

     

    

 

SECTION VIII

GOVERNING LAW;
DISPUTES SUBMITTED TO ARBITRATION

 

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

 

8.2 LEGAL
FEES; AND MISCELLANEOUS FEES. Except as otherwise set forth in the Agreement, each party shall pay the fees and expenses
of its advisers, counsel, the accountants and other experts, if any, and all other expenses incurred by such party incident
to the negotiation, preparation, execution, delivery and performance of this Agreement. Any attorneys’ fees and
expenses incurred by either the Company or the Investor in connection with the preparation, negotiation, execution and
delivery of any amendments to this Agreement or relating to the enforcement of the rights of any party, after the occurrence
of any breach of the terms of this Agreement by another party or any default by another party in respect of the transactions
contemplated hereunder, shall be paid on demand by the party which breached this Agreement and/or defaulted, as the case may
be. The Company shall pay all stamp and other taxes and duties levied in connection with the issuance of any Purchased
Shares.

 

8.3 SURVIVAL.
Sections 8.1, 8.2, 8.3, 8.4, and 8.5 of this Agreement shall survive the Commitment Period and the expiration of this Agreement.

 

8.4 ENTIRE AGREEMENT; AMENDMENTS.
This Agreement terminates and supersedes in its entirety the Common Stock Purchase Agreement dated October 15, 2020 between the
parties and is the FINAL AGREEMENT between the Company and the Investor with respect to the terms and conditions set forth herein,
and, the terms of this Agreement may not be contradicted by evidence of prior, contemporaneous, or subsequent oral agreements of
the Parties. No provision of this Agreement may be amended other than by an instrument in writing signed by the Company and the
Investor, and no provision hereof may be waived other than by an instrument in writing signed by the party against whom enforcement
is sought.

 

8.5 SEVERABILITY. If any provision
of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect the
validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of any provision
of this Agreement in any other jurisdiction.

 

8.6 PRICING
OF COMMON STOCK. For purposes of this Agreement, the price of the Common Stock shall be determined by the formula set forth
in Section 2.1 hereof.

 

 

 

    	 	7	 

     

    

 

SECTION IX

NON-DISCLOSURE
OF NON-PUBLIC INFORMATION

 

The Company shall
not disclose non-public information to the Investor.

 

Your signature
on this Signature Page evidences your agreement to be bound by the terms and conditions of this Agreement as of the date first
written above. The undersigned signatory hereby certifies that he has read and understands this Agreement, and the representations
made by the undersigned in this Agreement are true and accurate and agrees to be bound by its terms.

 

	 	
        TRITON FUNDS LP

        By: /s/ Ashkan Mapar

        Name: Ashkan Mapar

        Title: Authorized Signatory

         

	
         

         
	
        B2DIGITAL, Incorporated

        By:/s/ Greg Bell

        Name: Greg Bell

        Title: Chief Executive Officer and Chairman

 

 

 

 

 

 

 

 

    	 	8	 

     

    

 

EXHIBIT A

 

PURCHASE NOTICE

 

Date: _____, 202_

 

TRITON FUNDS LP,

 

This is to inform
you that as of today the Company hereby elects to exercise its right pursuant to this Agreement to require you to purchase _____
Purchased Shares for an Investment Amount not to exceed Two Hundred and Fifty Thousand Dollars ($250,000). The Company’s
wire instructions are as follows:

 

[Insert Wire
Instructions]

 

The total Investment
Amount and price per Purchased Shares shall be calculated in accordance with the terms and conditions set forth in Section 2.1
of the Agreement.

 

Regards,

 

	
         

         
	
        B2DIGITAL, Incorporated

        By:

        Name: Greg Bell

        Title: Chief Executive Officer and Chairman

 

 

 

 

 

    	 	9Exhibit 10.11

 

NEITHER THIS SECURITY
NOR THE SECURITIES AS TO WHICH THIS SECURITY MAY BE EXERCISED HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION
OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL
TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THIS SECURITY AND THE SECURITIES
ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH
SECURITIES.

 

COMMON STOCK PURCHASE
WARRANT

B2DIGITAL, INCORPORATED

 

Warrant Shares:
125,000,000

Date of Issuance:
December 23, 2020 (the “Issuance Date”)

 

THIS
COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received (in connection with the funding
of that common stock purchase agreement dated December 23, 2020, between the Company (as defined below) and the Investor (as defined
below)) (the “CSPA”), TRITON FUNDS, LP, a Delaware limited partnership (the “Investor” and
including any permitted and registered assigns), is entitled, upon the terms and subject to the limitations on exercise and the
conditions hereinafter set forth, at any time during the Exercise Period, to purchase from B2DIGITAL, INCORPORATED, a Delaware
corporation (the “Company”), up to 125,000,000 shares of Common Stock (as defined below) (the “Warrant
Shares”) at the Exercise Price per share then in effect. The number of Warrant Shares for which this Warrant may be exercised
is subject to adjustment in accordance with the terms hereof. This Warrant is issued by the Company as of the date hereof pursuant
to the CSPA.

 

Capitalized
terms used in this Warrant shall have the meanings set forth in the CSPA unless otherwise defined in the body of this Warrant or
in Section 14 below. For purposes of this Warrant, the term “Exercise Price” shall mean $0.02
per share, subject to adjustment as provided herein (including but not limited to cashless exercise), and the term “Exercise
Period” shall mean the period commencing on the Issuance Date and ending on 5:00 p.m. eastern standard time on the five-year
anniversary of such date. In the event that the S-1 Registration Statement registering the resales of the Warrant Shares is
not deemed effective within ninety (90) days of the Issuance Date, one hundred million (100,000,000) Warrants shall terminate and
twenty-five million (25,000,000) Warrants shall remain which shall either be registered by the Company in an S-1 Registration Statement
or shall be available for cashless exercise pursuant to the terms herein.

 

1. EXERCISE
OF WARRANT.

 

(a) Mechanics
of Exercise. Subject to the terms and conditions hereof, the rights represented by this Warrant may be exercised in whole or in
part at any time or times during the Exercise Period by delivery of a written notice, in the form attached hereto as Exhibit
A (the “Exercise Notice”), of the Investor’s election to exercise this Warrant. The Investor
shall not be required to deliver the original Warrant in order to effect an exercise hereunder. Partial exercises of this Warrant
resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering
the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased.
On or before the second Trading Day (the “Warrant Share Delivery Date”) following the date on which the Company
shall have received the Exercise Notice, which Exercise Notice must be received by the Company prior to 11 a.m., New York, New
York time to count as received on such date, and upon receipt by the Company of payment to the Company of an amount equal to the
applicable Exercise Price multiplied by the number of Warrant Shares as to which all or a portion of this Warrant is being exercised
(the “Aggregate Exercise Price” and together with the Exercise Notice, the “Exercise Delivery Documents”)
in cash or by wire transfer of immediately available funds (or by cashless exercise if permitted under the terms of this Warrant,
in which case there shall be no Aggregate Exercise Price provided), the Company shall (or direct its transfer agent to) issue and
dispatch by overnight courier to the address as specified in the Exercise Notice, a certificate, registered in the Company’s
share register in the name of the Investor or its designee, for the number of shares of Common Stock to which the Investor is entitled
pursuant to such exercise. Upon delivery of the Exercise Delivery Documents, the Investor shall be deemed for all corporate purposes
to have become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of
the date of delivery of the certificates evidencing such Warrant Shares. If this Warrant is submitted in connection with any exercise
and the number of Warrant Shares represented by this Warrant is greater than the number of Warrant Shares being acquired upon an
exercise, then the Company shall as soon as practicable and in no event later than three (3) business days after any exercise and
at its own expense, issue a new Warrant (in accordance with Section 6) representing the right to purchase the number
of Warrant Shares purchasable immediately prior to such exercise under this Warrant, less the number of Warrant Shares with respect
to which this Warrant is exercised.

 

 

 

    	 	1	 

     

    

  

If
the Company fails to cause its transfer agent to transmit to the Investor the respective shares of Common Stock by the respective
Warrant Share Delivery Date, then the Investor will have the right to rescind such exercise in Investor’s sole discretion,
and such failure shall be deemed an “Event of Default” under the CSPA. Without in any way limiting the Investor’s
right to pursue other remedies, including actual damages and/or equitable relief, the parties agree that if delivery of the Common
Stock issuable upon conversion of this Warrant is not delivered by the Warrant Share Delivery Date the Company shall pay to the
Investor $3,000 per day, for each day beyond the Warrant Share Delivery Date that the Company fails to deliver such Common Stock
(unless such failure results from war, acts of terrorism, an epidemic, or natural disaster). Such amount shall be paid to Investor
in cash by the fifth day of the month following the month in which it has accrued. The Company agrees that the right to exercise
is a valuable right to the Investor. The damages resulting from a failure, attempt to frustrate, interference with such exercise
right are difficult if not impossible to qualify. Accordingly, the parties acknowledge that the liquidated damages provision contained
in this Section 1(a) are justified.

 

The
Warrants may not be exercised on a cashless basis until the effectiveness of an S-1 Registration Statement registering the Warrant
Shares or after ninety (90) days from the date hereof. If, at any time from the effectiveness of the S-1 Registration Statement
through the end of the Exercise Period or after ninety (90) days from the date hereof, there is no effective registration statement
of the Company covering the Investor’s immediate resale of the Warrant Shares without any limitations, then the Investor
may elect to receive Warrant Shares pursuant to a cashless exercise, in lieu of a cash exercise, equal to the value of this Warrant
determined in the manner described below (or of any portion thereof remaining unexercised) by surrender of this Warrant and a Notice
of Exercise, in which event the Company shall issue to Investor a number of Common Stock computed using the following formula:

 

X = Y (A-B)

A

 

	Where  	X =	the number of Shares to be issued to Investor.
	 	 	 
	 	Y =	the number of Warrant Shares that the Investor elects to purchase under this Warrant (at the date of such calculation).
	 	 	 
	 	A =	the Market Price (at the date of such calculation).
	 	 	 
	 	B =	Exercise Price (as adjusted to the date of such calculation).

 

(b) No
Fractional Shares. No fractional shares shall be issued upon the exercise of this Warrant as a consequence of any adjustment pursuant
hereto. All Warrant Shares (including fractions) issuable upon exercise of this Warrant may be aggregated for purposes of determining
whether the exercise would result in the issuance of any fractional share. If, after aggregation, the exercise would result in
the issuance of a fractional share, the Company shall, in lieu of issuance of any fractional share, pay to the Investor otherwise
entitled to such fraction a sum in cash equal to the product resulting from multiplying the then-current fair market value of a
Warrant Share by such fraction.

 

(c) Investor’s
Exercise Limitations. The Company shall not affect any exercise of this Warrant, and the Investor shall not have the right to exercise
any portion of this Warrant, to the extent that after giving effect to issuance of Warrant Shares upon exercise as set forth on
the applicable Notice of Exercise, the Investor (together with the Investor’s Affiliates (as such term is defined under the
Exchange Act), and any other persons acting as a group together with the Investor or any of the Investor’s Affiliates), would
beneficially own in excess of the Beneficial Ownership Limitation, as defined below. For purposes of the foregoing sentence, the
number of shares of Common Stock beneficially owned by the Investor and its Affiliates shall include the number of shares of Common
Stock issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number
of shares of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of this Warrant beneficially
owned by the Investor or any of its Affiliates and (ii) exercise or conversion of the unexercised or non-converted portion of any
other securities of the Company (including without limitation any other Common Stock Equivalents) subject to a limitation on conversion
or exercise analogous to the limitation contained herein beneficially owned by the Investor or any of its Affiliates. Except as
set forth in the preceding sentence, for purposes of this paragraph (d), beneficial ownership shall be calculated in accordance
with Section 13(d) of the Exchange Act, it being acknowledged by the Investor that the Company is not representing to the Investor
that such calculation is in compliance with Section 13(d) of the Exchange Act and the Investor is solely responsible for any schedules
required to be filed in accordance therewith. To the extent that the limitation contained in this paragraph applies, the determination
of whether this Warrant is exercisable (in relation to other securities owned by the Investor together with any affiliates) and
of which portion of this Warrant is exercisable shall be in the sole discretion of the Investor, and the submission of a Notice
of Exercise shall be deemed to be the Investor’s determination of whether this Warrant is exercisable (in relation to other
securities owned by the Investor together with any Affiliates) and of which portion of this Warrant is exercisable, in each case
subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such
determination.

 

 

 

    	 	2	 

     

    

 

For
purposes of this Section 1(c), in determining the number of outstanding shares of Common Stock, the Investor may
rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual
report filed with the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent
written notice by the Company or its transfer agent setting forth the number of shares of Common Stock outstanding. Upon the request
of the Investor, the Company shall within two (2) Trading Days confirm to the Investor the number of shares of Common Stock then
outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion
or exercise of securities of the Company, including this Warrant, by the Investor or its affiliates since the date as of which
such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall
be 4.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common
Stock issuable upon exercise of this Warrant. The limitations contained in this paragraph shall apply to a successor Investor of
this Warrant.

 

2. ADJUSTMENTS.
The Exercise Price and the number of Warrant Shares shall be adjusted from time to time as follows:

 

(a) Distribution
of Assets. If the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets)
to holders of shares of Common Stock, by way of return of capital or otherwise (including without limitation any distribution of
cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement
or other similar transaction) (a “Distribution”), at any time after the issuance of this Warrant, then, in each
such case:

 

(i)
any Exercise Price in effect immediately prior to the close of business on the record date fixed for the determination of holders
of shares of Common Stock entitled to receive the Distribution shall be reduced, effective as of the close of business on such
record date, to a price determined by multiplying such Exercise Price by a fraction (i) the numerator of which shall be the Closing
Sale Price of the shares of Common Stock on the Trading Day immediately preceding such record date minus the value of the Distribution
(as determined in good faith by the Company’s Board of Directors) applicable to one (1) share of Common Stock, and (ii) the
denominator of which shall be the Closing Sale Price of the shares of Common Stock on the Trading Day immediately preceding such
record date; and

 

(ii)
the number of Warrant Shares shall be increased to a number of shares equal to the number of shares of Common Stock obtainable
immediately prior to the close of business on the record date fixed for the determination of holders of shares of Common Stock
entitled to receive the Distribution multiplied by the reciprocal of the fraction set forth in the immediately preceding clause
(i); provided, however, that in the event that the Distribution is of shares of common stock of a company (other than the Company)
whose common stock is traded on a national securities exchange or a national automated quotation system (“Other Shares
of Common Stock”), then the Investor may elect to receive a warrant to purchase Other Shares of Common Stock in lieu
of an increase in the number of Warrant Shares, the terms of which shall be identical to those of this Warrant, except that such
warrant shall be exercisable into the number of shares of Other Shares of Common Stock that would have been payable to the Investor
pursuant to the Distribution had the Investor exercised this Warrant immediately prior to such record date and with an aggregate
exercise price equal to the product of the amount by which the exercise price of this Warrant was decreased with respect to the
Distribution pursuant to the terms of the immediately preceding clause (i) and the number of Warrant Shares calculated in accordance
with the first part of this clause (ii).

 

(b) Stock
Splits. If the Company, at any time while this Warrant is outstanding: (i) subdivides outstanding shares of Common Stock into a
larger number of shares, or (ii) combines (including by way of reverse stock split) outstanding shares of Common Stock into a smaller
number of shares, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number
of shares of Common Stock (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator
shall be the number of shares of Common Stock outstanding immediately after such event, and the number of shares issuable upon
exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain
unchanged. Any adjustment made pursuant to this Section 2(b) shall become effective immediately after the effective
date in the case of a subdivision or combination.

 

 

 

    	 	3	 

     

    

 

3. FUNDAMENTAL
TRANSACTIONS. If, at any time while this Warrant is outstanding, (i) the Company effects any merger of the Company with or
into another entity and the Company is not the surviving entity (such surviving entity, the “Successor Entity”),
(ii) the Company effects any sale of all or substantially all of its assets in one (1) or a series of related transactions, (iii)
any tender offer or exchange offer (whether by the Company or by another individual or entity, and approved by the Company) is
completed pursuant to which holders of Common Stock are permitted to tender or exchange their shares of Common Stock for other
securities, cash or property and the holders of at least 50% of the Common Stock accept such offer, or (iv) the Company effects
any reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted
into or exchanged for other securities, cash or property (other than as a result of a subdivision or combination of shares of Common
Stock) (in any such case, a “Fundamental Transaction”), then, upon any subsequent exercise of this Warrant,
the Investor shall have the right to receive the number of shares of Common Stock of the Successor Entity or of the Company and
any additional consideration (the “Alternate Consideration”) receivable upon or as a result of such reorganization,
reclassification, merger, consolidation or disposition of assets by a holder of the number of shares of Common Stock for which
this Warrant is exercisable immediately prior to such event (disregarding any limitation on exercise contained herein solely for
the purpose of such determination). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately
adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one (1)
share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration
in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of
Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the
Investor shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following
such Fundamental Transaction. To the extent necessary to effectuate the foregoing provisions, any Successor Entity in such Fundamental
Transaction shall issue to the Investor a new warrant consistent with the foregoing provisions and evidencing the Investor’s
right to exercise such warrant into Alternate Consideration.

 

4. NON-CIRCUMVENTION.
The Company covenants and agrees that it will not, by amendment of its certificate of incorporation, bylaws or through any reorganization,
transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities, or any other voluntary
action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, and will at all times in good
faith carry out all the provisions of this Warrant and take all action as may be required to protect the rights of the Investor.
Without limiting the generality of the foregoing, the Company (i) shall not increase the par value of any shares of Common Stock
receivable upon the exercise of this Warrant above the Exercise Price then in effect, (ii) shall take all such actions as may be
necessary or appropriate in order that the Company may validly and legally issue fully paid and non-assessable shares of Common
Stock upon the exercise of this Warrant, and (iii) shall, for so long as this Warrant is outstanding, have authorized and reserved,
free from preemptive rights, three (3) times the number of shares of Common Stock issuable under the Warrant, or as otherwise required
under the CSPA, to provide for the exercise of the rights represented by this Warrant (without regard to any limitations on exercise).

  

5. WARRANT
HOLDER NOT DEEMED A STOCKHOLDER. Except as otherwise specifically provided herein, this Warrant, in and of itself, shall not
entitle the Investor to any voting rights or other rights as a stockholder of the Company. In addition, nothing contained in this
Warrant shall be construed as imposing any liabilities on the Investor to purchase any securities (upon exercise of this Warrant
or otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company.

 

6. REISSUANCE.

 (a) Lost,
Stolen or Mutilated Warrant. If this Warrant is lost, stolen, mutilated or destroyed, the Company will, on such terms as to indemnity
or otherwise as it may reasonably impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue
a new Warrant of like denomination and tenor as this Warrant so lost, stolen, mutilated or destroyed.

 

(b) Issuance
of New Warrants. Whenever the Company is required to issue a new Warrant pursuant to the terms of this Warrant, such new Warrant
shall be of like tenor with this Warrant, and shall have an issuance date, as indicated on the face of such new Warrant which is
the same as the Issuance Date.

 

 

 

    	 	4	 

     

    

 

7. TRANSFER.

 

(a) Notice
of Transfer. The Investor agrees to give written notice to the Company before transferring this Warrant or transferring any Warrant
Shares of such Investor’s intention to do so, describing briefly the manner of any proposed transfer. Promptly upon receiving
such written notice, the Company shall present copies thereof to the Company’s counsel. If the proposed transfer may be effected
without registration or qualification (under any federal or state securities laws), the Company, as promptly as practicable, shall
notify the Investor thereof, whereupon the Investor shall be entitled to transfer this Warrant or to dispose of Warrant Shares
received upon the previous exercise of this Warrant, all in accordance with the terms of the notice delivered by the Investor to
the Company; provided, however, that an appropriate legend may be endorsed on this Warrant or the certificates for such Warrant
Shares respecting restrictions upon transfer thereof necessary or advisable in the opinion of counsel and satisfactory to the Company
to prevent further transfers which would be in violation of Section 5 of the Securities Act and applicable state securities laws;
and provided further that the prospective transferee or purchaser shall execute the Assignment of Warrant attached hereto as Exhibit
B and such other documents and make such representations, warranties, and agreements as may be required solely to comply
with the exemptions relied upon by the Company for the transfer or disposition of the Warrant or Warrant Shares.

 

(b)
If the proposed transfer or disposition of this Warrant or such Warrant Shares described in the written notice given pursuant to
this Section 7 may not be effected without registration or qualification of this Warrant or such Warrant Shares,
the Investor will limit its activities in respect to such transfer or disposition as are permitted by law.

 

(c)
Any transferee of all or a portion of this Warrant shall succeed to the rights and benefits of the initial Investor of this Warrant
under the CSPA (registration rights, expenses, and indemnity).

 

8. NOTICES.
Whenever notice is required to be given under this Warrant, unless otherwise provided herein, such notice shall be given in accordance
with the notice provisions contained in the CSPA. The Company shall provide the Investor with prompt written notice (i) immediately
upon any adjustment of the Exercise Price, setting forth in reasonable detail, the calculation of such adjustment and (ii) at least
twenty (20) days prior to the date on which the Company closes its books or takes a record (A) with respect to any dividend or
distribution upon the shares of Common Stock, (B) with respect to any grants, issuances or sales of any stock or other securities
directly or indirectly convertible into or exercisable or exchangeable for shares of Common Stock or other property, pro rata to
the holders of shares of Common Stock or (C) for determining rights to vote with respect to any Fundamental Transaction, dissolution
or liquidation, provided in each case that such information shall be made known to the public prior to or in conjunction with such
notice being provided to the Investor.

 

9. AMENDMENT,
WAIVER, AND TERMINATION. The terms of this Warrant may be amended or waived (either generally or in a particular instance and
either retroactively or prospectively) only with the written consent of the Company and the Investor. By entering into this Warrant
each party agrees that this Warrant shall terminate and supersede, in its entirety, the Warrant issued October 15, 2020 by the
Company to the Investor.

  

10. Governing
Law. This Warrant shall be governed by and interpreted in accordance with the laws of the State of Delaware without regard
to the principles of conflicts of law (whether of the State of Delaware or any other jurisdiction).

 

11. Arbitration.
Any disputes, claims, or controversies arising out of or relating to this Warrant, or the transactions, contemplated thereby, or
the breach, termination, enforcement, interpretation, or validity thereof, including the determination of the scope or applicability
of this Warrant to arbitrate, shall be referred to and resolved solely and exclusively by binding arbitration to be conducted before
the Judicial Arbitration and Mediation Service (“JAMS”), or its successor pursuant the expedited procedures
set forth in the JAMS Comprehensive Arbitration Rules and Procedures (the “Rules”), including Rules 16.1 and
16.2 of those Rules. The arbitration shall be held in Los Angeles, California, before a tribunal consisting of three (3) arbitrators
each of whom will be selected in accordance with the “strike and rank” methodology set forth in Rule 15. Either party
to this Warrant may, without waiving any remedy under this Warrant, seek from any federal or state court sitting in the State of
California any interim or provisional relief that is necessary to protect the rights or property of that party, pending the establishment
of the arbitral tribunal. The costs and expenses of such arbitration shall be paid by and be the sole responsibility of the Company,
including but not limited to the Investor’s attorneys’ fees and each arbitrator’s fees. The arbitrators’
decision must set forth a reasoned basis for any award of damages or finding of liability. The arbitrators’ decision and
award will be made and delivered as soon as reasonably possible and in any case within sixty (60) days’ following the conclusion
of the arbitration hearing and shall be final and binding on the parties and may be entered by any court having jurisdiction thereof.

 

 

 

    	 	5	 

     

    

 

12. JURY
TRIAL WAIVER. THE COMPANY AND THE INVESTOR HEREBY WAIVE A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY
EITHER OF THE PARTIES HERETO AGAINST THE OTHER IN RESPECT OF ANY MATTER ARISING OUT OF OR IN CONNECTION WITH THIS WARRANT.

 

13. ACCEPTANCE.
Receipt of this Warrant by the Investor shall constitute acceptance of and agreement to all of the terms and conditions contained
herein.

 

14. CERTAIN
DEFINITIONS. For purposes of this Warrant, the following terms shall have the following meanings:

  

(a)
“Closing Sale Price” means, for any security as of any date, (i) the last closing trade price for such security
on the Trading Market, as reported by the Trading Market, or, if the Trading Market begins to operate on an extended hours basis
and does not designate the closing trade price, then the last trade price of such security prior to 4:00 p.m., New York time, as
reported by the Trading Market, or (ii) if the foregoing does not apply, the last trade price of such security in the over-the-counter
market for such security as reported by the Trading Market, or (iii) if no last trade price is reported for such security by the
Trading Market, the average of the bid and ask prices of any market makers for such security as reported by the Trading Market.
If the Closing Sale Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Closing Sale
Price of such security on such date shall be the fair market value as mutually determined by the Company and the Investor. All
such determinations to be appropriately adjusted for any stock dividend, stock split, stock combination or other similar transaction
during the applicable calculation period.

 

(b)
“Common Stock” means the Company’s common stock, par value $0.00001 per share, and any other class of
securities into which such securities may hereafter be reclassified or changed.

 

(c)
“Common Stock Equivalents” means any securities of the Company that would entitle the holder thereof to acquire
at any time Common Stock, including without limitation any debt, preferred stock, rights, options, warrants or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common
Stock.

 

(d)
“Market Price” means the highest traded price of the Common Stock during the thirty (30) Trading Days prior
to the date of the respective Exercise Notice.

 

(e)
“OTC Markets” means OTCQX, OTCQB, OTC Pink, the OTC Bulletin Board.

 

(f)
“Trading Day” means (i) any day on which the Common Stock is listed or quoted and traded on its Trading Market,
(ii) if the Common Stock is not then listed or quoted and traded on any national securities exchange, then a day on which trading
occurs on any over-the-counter markets, or (iii) if trading does not occur on the over-the-counter markets, any business day.

 

(g)
“Trading Market” means the OTC Markets or any equivalent principal securities exchange or other securities market
on which the Common Stock is being traded or quoted.

 

15. PIGGYBACK
REGISTRATION RIGHTS. The Company shall include on any registration statement filed with the SEC, all shares issuable upon exercise
of this Warrant. Failure to do so will result in liquidated damages of $50,000, being immediately due and payable to the Investor
at its election in the form of cash payment.

 

16.
FORCE MAJEURE. Neither Party will be liable for any failure or delay in performing an obligation under this Agreement that
is due (including the effectiveness within ninety (90) days from the date hereof of the registration of the Warrant Shares on an
S-1 Registration Statement filed with the SEC) to any of the following causes, to the extent beyond its reasonable control: acts
of God, accident, riots, war, terrorist act, epidemic, pandemic, quarantine, civil commotion, breakdown of communication facilities,
breakdown of web host, breakdown of internet service provider, natural catastrophes, governmental acts or omissions, changes in
laws or regulations, national strikes, fire, explosion, generalized lack of availability of raw materials or energy.

 

 

 

    	 	6	 

     

    

 

For
the avoidance of doubt, Force Majeure shall not include (a) financial distress nor the inability of either party to make a profit
or avoid a financial loss, (b) changes in market prices or conditions, or (c) a party's financial inability to perform its obligations
hereunder.

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be duly executed as of the Issuance Date set forth above.

 

B2DIGITAL,
INCORPORATED

 

/s/
Greg P. Bell

Chairman
and CEO

 

TRITON
FUNDS LP

 

/s/
Ashkan Mapar

Authorized
Signatory

 

 

 

 

 

    	 	7	 

     

    

 

EXHIBIT A

 

EXERCISE NOTICE

 

(To be executed
by the registered holder to exercise this Common Stock Purchase Warrant)

 

The
Undersigned holder hereby exercises the right to purchase _________________ of the shares of Common Stock (“Warrant
Shares”) of B2DIGTIAL, INCORPORATED, a Delaware corporation (the “Company”), evidenced by the attached copy of
the Common Stock Purchase Warrant (the “Warrant”). Capitalized terms used herein and not otherwise defined shall
have the respective meanings set forth in the Warrant.

 

	1.	
        Form of Exercise Price.  The
        Investor intends that payment of the Exercise Price shall be made

        as (check one):

 

	 	☐	a cash exercise with respect to _________________ Warrant Shares; or
	 	☐	by cashless exercise pursuant to the Warrant.

 

	2.	
        Payment of Exercise Price.  If
cash exercise is selected above, the holder shall pay the applicable Aggregate Exercise Price in the sum of $___________________
to the Company in accordance with the terms of the Warrant.

 

	3.	
        Delivery of Warrant Shares.  The
Company shall deliver to the holder __________________ Warrant Shares in accordance with the terms of the Warrant.

  

Date:                                              

 

	(Print Name of Registered Holder)	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 

 

 

 

 

 

 

 

    	 	8	 

     

    

 

EXHIBIT B

 

ASSIGNMENT OF WARRANT

 

(To be signed only
upon authorized transfer of the Warrant)

 

For
Value Received, the undersigned hereby sells, assigns, and transfers unto ____________________ the right to purchase _______________
shares of common stock of B2DIGITAL, INCORPORATED to which the within Common Stock Purchase Warrant relates and appoints ____________________,
as attorney-in-fact, to transfer said right on the books of B2DIGITAL, INCORPORATED. with full power of substitution and re-substitution
in the premises. By accepting such transfer, the transferee has agreed to be bound in all respects by the terms and conditions
of the within Warrant.

  

Date:                                              

 

	 	 
	(Signature) *	 
	 	 
	 	 
	(Name)	 
	 	 
	 	 
	(Address)	 
	 	 
	 	 
	(Social Security or Tax Identification No.)	 

 

* The signature
on this Assignment of Warrant must correspond to the name as written upon the face of the Common Stock Purchase Warrant in every
particular without alteration or enlargement or any change whatsoever. When signing on behalf of a corporation, partnership, trust
or other entity, please indicate your position(s) and title(s) with such entity.

 

 

 

    	 	9

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