Document:

Exhibit 10.2

 

NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY
IS EXERCISABLE 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 REASONABLY ACCEPTABLE
TO THE COMPANY TO SUCH EFFECT.

 

COMMON STOCK PURCHASE WARRANT

 

To Purchase 800,000 Shares of Common Stock
of

 

VEGALAB, INC. 

 

THIS COMMON STOCK PURCHASE
WARRANT (the “Warrant”) CERTIFIES that, for value received, Jeffry Hill (the “Holder”), is
entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or
prior to January 31, 2023 (the “Termination Date”) but not thereafter, to subscribe for and purchase from Vegalab,
Inc., a Nevada corporation (the “Company”), up to 800,000 shares (the “Warrant Shares”) of
Common Stock, par value $0.001 per share, of the Company (the “Common Stock”). The purchase price of one share
of Common Stock (the “Exercise Price”) under this Warrant shall be $1.20. The Exercise Price and the number
of Warrant Shares for which the Warrant is exercisable shall be subject to adjustment as provided herein.

 

1.            Title
to Warrant. Prior to the Termination Date and subject to compliance with applicable laws and Section 7 of this Warrant, this
Warrant and all rights hereunder are transferable, in whole or in part, at the office or agency of the Company by the Holder in
person or by duly authorized attorney, upon surrender of this Warrant together with the Assignment Form annexed hereto properly
endorsed.

 

2.            Authorization
of Shares. The Company covenants that all Warrant Shares that may be issued upon the exercise of the purchase rights represented
by this Warrant will, upon exercise of said purchase rights, be duly authorized, validly issued, fully paid and non-assessable
and free from all liens and charges in respect of the issue thereof.

 

3.            Exercise
of Warrant. In order to exercise this warrant with respect to all or any part of the Warrant Shares for which this warrant
is at the time exercisable, Holder must take the following actions:

 

(a)          Deliver
to the Corporate Secretary of the Corporation an executed notice of exercise in substantially the form of notice attached to this
Agreement (the “Exercise Notice”) in which there is specified the number of Warrant Shares that are to be purchased
under the exercised warrant.

 

(b)          Pay
the aggregate Warrant Price for the purchased shares through one or more of the following alternatives:

 

     

     

    

 

(i)          full
payment in cash or by check made payable to the Company’s order;

 

(ii)         full
payment in shares of Common Stock valued at Fair Market Value on the trading day immediately preceding the Exercise Date (as such
terms are defined below);

 

(iii)        full
payment through a combination of shares of Common Stock valued at Fair Market Value on the trading day immediately preceding the
Exercise Date and cash or check payable to the Company’s order; or

 

(iv)        full
payment by means of a “cashless exercise” in which the Holder is entitled to receive, upon surrender of this warrant,
a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

(A) = the Fair Market Value per share on the trading
day immediately preceding the Exercise Date;

 

(B) = the Warrant Price; and

 

(X) = the number of shares with respect to which the
warrant is exercised as stated in the notice of exercise.

 

(c)          Furnish
to the Corporation appropriate documentation that the person or persons exercising the warrant (if other than Holder) have the
right to exercise this warrant.

 

(d)          For
purposes of this Agreement, the Exercise Date shall be the date on which the executed Exercise Notice shall have been delivered
to the Company. Payment of the Warrant Price for the purchased shares must accompany such Exercise Notice.

 

(e)          For
all valuation purposes under this Agreement, the Fair Market Value per share of Common Stock on any relevant date shall be determined
in accordance with the following provisions:

 

(i)          If
the Common Stock is at the time listed or admitted to trading on any national securities exchange, including the Nasdaq Stock Market,
then the Fair Market Value shall be the closing selling price per share on the date in question on the securities exchange averaged
over ten (10) consecutive Business Days ending on the Business Day immediately prior to the day as of which “Fair Market
Value” is being determined; provided, that if the Common Stock is listed on any domestic securities exchange, the
term “Business Day” as used in this Section 3(e) means Business Days on which stock markets in the United States are
open for trading. If there is no reported sale of Common Stock on such exchange on the date in question, then the Fair Market Value
shall be the closing selling price on the exchange on the last preceding date for which such quotation exists averaged over ten
(10) consecutive Business Days ending on the Business Day immediately prior to the day as of which “Fair Market Value”
is being determined.

 

(ii)         If
the Common Stock is not listed on such date on any national securities exchange, but is traded in the over-the-counter market,
the Fair Market Value shall be the closing price per share on the date in question of the Common Stock as reported on the applicable
OTC Market (the OTC Markets Group Inc. electronic inter-dealer quotation system, including OTCQX, OTCQB and OTC Pink) or similar
quotation system or association averaged over ten (10) consecutive Business Days ending on the Business Day immediately prior to
the day as of which “Fair Market Value” is being determined.

 

    	 	2	 

     

    

 

(iii)        If
at any time the Common Stock is not listed on any domestic securities exchange or quoted on the OTC Market or similar quotation
system or association, the “Fair Market Value” of the Common Stock shall be the fair market value per share as determined
jointly by the Board and the Holder.

 

(f)          Upon
such exercise and collection or receipt by the Company of the full Warrant Price for the Warrant Shares in respect of which this
warrant is exercised, the Company shall issue and cause to be delivered with all reasonable dispatch (and in any event within three
business days of such collection or receipt) to or upon the written order of the Holder at its address, and in the name of the
Holder, a certificate or certificates for the number of full Warrant Shares issuable upon the exercise together with such other
property (including cash) and securities as may then be deliverable upon such exercise. Such certificate or certificates shall
be deemed to have been issued and the Holder shall be deemed to have become a holder of record of such Warrant Shares as of the
Exercise Date. If payment in full of the Warrant Price for the Warrant Shares in respect of which this warrant is exercised is
not received within ten business days following the date on which notice of exercise is tendered to the Company, the Company may,
at its discretion, reject the notice of exercise back to the Holder and have no obligation to issue any of such Warrant Shares.

 

(g)          If
this Warrant shall have been exercised in part, the Company shall deliver to Holder a new Warrant evidencing the rights of Holder
to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical
with this Warrant.

 

4.            No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share that Holder would otherwise be entitled to purchase upon such exercise, the Company
shall pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price.

 

5.            Charges,
Taxes and Expenses. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue or
transfer tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses shall
be paid by the Company, and such certificates shall be issued in the name of the Holder or in such name or names as may be directed
by the Holder; provided, however, that in the event certificates for Warrant Shares are to be issued in a name other
than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto
duly executed by the Holder; and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse
it for any transfer tax incidental thereto.

 

6.            Closing
of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this
Warrant pursuant to the terms hereof.

 

7.            Transfer,
Division and Combination.

 

(a)          Subject
to compliance with any applicable securities laws and the conditions set forth in Sections 1 and 7(e) hereof, this Warrant and
all rights hereunder are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company,
together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its
agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender
and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or
assignees and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor
a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. A Warrant,
if properly assigned, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

 

    	 	3	 

     

    

 

(b)          This
Warrant may be divided or combined with other Warrants upon presentation hereof at the principal office of the Company, together
with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its
agent or attorney. Subject to compliance with Section 7(a), as to any transfer which may be involved in such division or combination,
the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined
in accordance with such notice.

 

(c)          The
Company shall prepare, issue and deliver at its own expense (other than transfer taxes) the new Warrant or Warrants under this
Section 7.

 

(d)          The
Company agrees to maintain, at its principal office, books for the registration and the registration of transfer of the Warrants.

 

(e)          In
connection with any transfer of this Warrant the Company may require, as a condition of allowing such transfer (i) that the Holder
or transferee of this Warrant, as the case may be, furnish to the Company a written opinion of counsel acceptable to the Company
(which opinion shall be in form, substance and scope customary for opinions of counsel in comparable transactions) to the effect
that such transfer may be made without registration under the Securities Act and under applicable state securities or blue sky
laws, and (ii) that the holder or transferee execute and deliver to the Company an investment letter in form and substance acceptable
to the Company.

 

8.            No
Rights as Shareholder until Exercise. This Warrant does not entitle the Holder to any voting rights or other rights as a shareholder
of the Company prior to the exercise hereof.

 

9.            Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it, and upon surrender and
cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate
of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

 

10.           Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall be a Saturday, Sunday or a legal holiday, then such action may be taken or such right may be exercised on
the next succeeding day not a Saturday, Sunday or legal holiday.

 

11.           Adjustments
of Exercise Price and Number of Warrant Shares.

 

(a)          Stock
Splits, etc. The number and kind of securities purchasable upon the exercise of this Warrant and the Exercise Price shall be
subject to adjustment from time to time upon the happening of any of the following. In case the Company shall (i) pay a dividend
in shares of Common Stock or make a distribution in shares of Common Stock to holders of its outstanding Common Stock, (ii) subdivide
its outstanding shares of Common Stock into a greater number of shares, (iii) combine its outstanding shares of Common Stock into
a smaller number of shares of Common Stock, or (iv) issue any shares of its capital stock in a reclassification of the Common Stock,
then the number of Warrant Shares purchasable upon exercise of this Warrant immediately prior thereto shall be adjusted so that
the Holder shall be entitled to receive the kind and number of Warrant Shares or other securities of the Company that it would
have owned or have been entitled to receive had this Warrant been exercised in advance thereof. Upon each such adjustment of the
kind and number of Warrant Shares or other securities of the Company that are purchasable hereunder, the Holder shall thereafter
be entitled to purchase the number of Warrant Shares or other securities resulting from such adjustment at an Exercise Price per
Warrant Share or other security obtained by multiplying the Exercise Price in effect immediately prior to such adjustment by the
number of Warrant Shares purchasable pursuant hereto immediately prior to such adjustment and dividing by the number of Warrant
Shares or other securities of the Company that are purchasable pursuant hereto immediately after such adjustment. An adjustment
made pursuant to this paragraph shall become effective immediately after the effective date of such event retroactive to the record
date, if any, for such event. No adjustment of the Exercise Price shall be made in an amount of less than 1% of the Exercise Price
in effect at the time such adjustment is otherwise required to be made, but any such lesser adjustment shall be carried forward
and shall be made at the time and together with the next subsequent adjustment which, together with any adjustments so carried
forward, shall amount to not less than 1% of such Exercise Price.

 

    	 	4	 

     

    

 

(b)          Reorganization,
Reclassification, Merger, Consolidation or Disposition of Assets. In case the Company shall reorganize its capital, reclassify
its capital stock, consolidate or merge with or into another corporation (where the Company is not the surviving corporation or
where there is a change in or distribution with respect to the Common Stock of the Company), or sell, transfer or otherwise dispose
of its property, assets or business to another corporation and, pursuant to the terms of such reorganization, reclassification,
merger, consolidation or disposition of assets, shares of common stock of the successor or acquiring corporation, or any cash,
shares of stock or other securities or property of any nature whatsoever (including warrants or other subscription or purchase
rights) in addition to or in lieu of common stock of the successor or acquiring corporation (“Other Property”),
are to be received by or distributed to the holders of Common Stock of the Company, then the Holder shall have the right thereafter
to receive upon exercise of this Warrant, the number of shares of common stock of the successor or acquiring corporation or of
the Company, if it is the surviving corporation, and Other Property 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. In case of any such reorganization, reclassification, merger, consolidation or disposition of
assets, the successor or acquiring corporation (if other than the Company) shall expressly assume the due and punctual observance
and performance of each and every covenant and condition of this Warrant to be performed and observed by the Company and all the
obligations and liabilities hereunder, subject to such modifications as may be deemed appropriate (as determined in good faith
by resolution of the Board of Directors of the Company) in order to provide for adjustments of Warrant Shares for which this Warrant
is exercisable which shall be as nearly equivalent as practicable to the adjustments provided for in this Section 11(b). For purposes
of this Section 11(b), “common stock of the successor or acquiring corporation” shall include stock of such corporation
of any class that is not preferred as to dividends or assets over any other class of stock of such corporation and that is not
subject to redemption and shall also include any evidences of indebtedness, shares of stock or other securities that are convertible
into or exchangeable for any such stock, either immediately or upon the arrival of a specified date or the happening of a specified
event and any warrants or other rights to subscribe for or purchase any such stock. The foregoing provisions of this Section 11(b)
shall similarly apply to successive reorganizations, reclassifications, mergers, consolidations or disposition of assets.

 

(c)          Voluntary
Adjustment by the Company. The Company may at any time during the term of this Warrant reduce the then current Exercise Price
to any amount and for any period of time deemed appropriate by the Board of Directors of the Company.

 

(d)          Notice
of Adjustment. Whenever the number of Warrant Shares or number or kind of securities or other property purchasable upon the
exercise of this Warrant or the Exercise Price is adjusted, as herein provided, the Company shall give notice thereof to the Holder,
which notice shall state the number of Warrant Shares (and other securities or property) purchasable upon the exercise of this
Warrant and the Exercise Price of such Warrant Shares (and other securities or property) after such adjustment, setting forth a
brief statement of the facts requiring such adjustment and setting forth the computation by which such adjustment was made.

 

    	 	5	 

     

    

 

(e)          Notice
of Corporate Action. If at any time:

 

(i)          the
Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive a dividend or other
distribution, or any right to subscribe for or purchase any evidences of its indebtedness, any shares of stock of any class or
any other securities or property, or to receive any other right, or

 

(ii)         there
shall be any capital reorganization of the Company, any reclassification or recapitalization of the capital stock of the Company
or any consolidation or merger of the Company with, or any sale, transfer or other disposition of all or substantially all the
property, assets or business of the Company to, another corporation or,

 

(iii)        there
shall be a voluntary or involuntary dissolution, liquidation or winding up of the Company;

 

then, in any one or more of such cases, the Company shall give
to Holder (i) at least 10 days’ prior written notice of the date on which a record date shall be selected for such dividend,
distribution or right or for determining rights to vote in respect of any such reorganization, reclassification, merger, consolidation,
sale, transfer, disposition, liquidation or winding up, and (ii) in the case of any such reorganization, reclassification, merger,
consolidation, sale, transfer, disposition, dissolution, liquidation or winding up, at least 10 days’ prior written notice
of the date when the same shall take place. Such notice in accordance with the foregoing clause also shall specify (i) the date
on which any such record is to be taken for the purpose of such dividend, distribution or right, the date on which the holders
of Common Stock shall be entitled to any such dividend, distribution or right, and the amount and character thereof, and (ii) the
date on which any such reorganization, reclassification, merger, consolidation, sale, transfer, disposition, dissolution, liquidation
or winding up is to take place and the time, if any such time is to be fixed, as of which the holders of Common Stock shall be
entitled to exchange their Warrant Shares for securities or other property deliverable upon such disposition, dissolution, liquidation
or winding up. Each such written notice shall be sufficiently given if addressed to Holder at the last address of Holder appearing
on the books of the Company and delivered in accordance with Section 13(d). Failure to provide any notice called for by this Section
13(d) shall not affect the validity or effectiveness of any action or transaction for which notice was not given.

 

12.           Authorized
Shares. The Company covenants that during the period the Warrant is outstanding, it will reserve from its authorized and unissued
Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase
rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its
officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for the
Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as
may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or
regulation, or of any requirements of the trading market upon which the Common Stock may be listed.

 

    	 	6	 

     

    

 

13.           Miscellaneous.

 

(a)          Jurisdiction.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be governed by and construed
and enforced in accordance with the internal laws of the State of Nevada, without regard to the principles of conflicts of law
thereof.

 

(b)          Restrictions.
The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, will have restrictions
upon resale imposed by state and federal securities laws.

 

(c)          Non-waiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate
as a waiver of such right or otherwise prejudice Holder’s rights, powers or remedies. The foregoing notwithstanding, all
rights hereunder terminate on the Termination Date. If any claim or action for breach of this Agreement is asserted by either party
hereto against the other, the non-prevailing party shall pay to the prevailing party all costs and expenses incurred in such claim
or action including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings and incurred
in collecting any amounts due or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

(d)          Notices.
Any notice, request or other document required or permitted to be given or delivered all notices or other communications or deliveries
required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of (a)
the date of transmission, if such notice or communication is delivered via facsimile or email and receipt is confirmed by telephone,
(b) the second business day following the date of mailing, if sent by U.S. nationally recognized overnight courier service, or
(c) upon actual receipt by the party to whom such notice is required to be given. The Holder’s address for such notices and
communications shall be the address of Holder as it appears in the books and records of the Company.

 

(e)          Limitation
of Liability. No provision hereof, in the absence of any affirmative action by Holder to exercise this Warrant or purchase
Warrant Shares, and no enumeration herein of the rights or privileges of Holder, shall give rise to any liability of Holder for
the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or
by creditors of the Company.

 

(f)          Remedies.
Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to
specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive the defense in any
action for specific performance that a remedy at law would be adequate.

 

(g)          Successors
and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure
to the benefit of and be binding upon the successors of the Company and the successors and permitted assigns of Holder. The provisions
of this Warrant are intended to be for the benefit of all Holders from time to time of this Warrant and shall be enforceable by
any such Holder or holder of Warrant Shares.

 

(g)          Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

 

(h)          Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions
of this Warrant.

 

    	 	7	 

     

    

 

(i)          Headings.
The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of
this Warrant.

 

[Signatures on next page.]

 

 

    	 	8	 

     

    

 

IN WITNESS WHEREOF, the
Company has caused this Warrant to be executed by its officer thereunto duly authorized to be effective February 1, 2018.

 

	 	 	VEGALAB, INC.
	 	 	 	 
	 	 	By:	/s/ David Selakovic
	 	 	Name:	David Selakovic
	 	 	Title:	Chief Executive Officer
	 	 	 
	Accepted effective February 1, 2018	 	 
	 	 	 
	/s/ Jeffry Hill	 	 
	Jeffry Hill	 	 

 

    	 	9	 

     

    

 

NOTICE OF EXERCISE

 

To:Vegalab, Inc.

 

(1)         The
undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only
if exercised in full), and tenders herewith payment of the exercise price in full.

 

(2)         Please
issue a certificate or certificates representing said Warrant Shares in the name of the undersigned or in such other name as is
specified below:

 

 

 

 

 

 

The Warrant Shares shall be delivered to the following:

 

 

 

 

 

 

 

(3)         Accredited
Investor. The undersigned is an “accredited investor” as defined in Regulation D under the Securities Act of 1933,
as amended.

 

	 	[PURCHASER]
	 	 	 
	 	By:	 
	 	Name:
	 	Title:
	 	 	 
	 	Dated:	 

 

    	 	10	 

     

    

 

ASSIGNMENT FORM

 

(To assign the foregoing warrant, execute

this form and supply required information.

Do not use this form to exercise the warrant.)

 

FOR VALUE RECEIVED, the
foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

_____________________________________________________________________
whose address is

 

____________________________________________________________________________________________

 

____________________________________________________________________________________________

 

	Dated:	 	_______________________, _______
	 	 	 
	Holder's Signature:	 	________________________________
	 	 	 
	Holder's Address:	 	________________________________
	 	 	 
	 	 	________________________________

 

Signature Guaranteed: ___________________________________________

 

NOTE: The signature to this Assignment Form must correspond
with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatsoever, and must be
guaranteed by a bank or trust company. Officers of corporations and those acting in a fiduciary or other representative capacity
should file proper evidence of authority to assign the foregoing Warrant.

 

    	 	11Exhibit 10.3

 

NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY
IS EXERCISABLE 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 REASONABLY ACCEPTABLE
TO THE COMPANY TO SUCH EFFECT.

 

COMMON STOCK PURCHASE WARRANT

 

To Purchase 800,000 Shares of Common Stock
of

 

VEGALAB, INC. 

 

THIS COMMON STOCK PURCHASE
WARRANT (the “Warrant”) CERTIFIES that, for value received, Ryan Sweeney (the “Holder”),
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on
or prior to January 31, 2023 (the “Termination Date”) but not thereafter, to subscribe for and purchase from
Vegalab, Inc., a Nevada corporation (the “Company”), up to 800,000 shares (the “Warrant Shares”)
of Common Stock, par value $0.001 per share, of the Company (the “Common Stock”). The purchase price of one
share of Common Stock (the “Exercise Price”) under this Warrant shall be $1.20. The Exercise Price and the number
of Warrant Shares for which the Warrant is exercisable shall be subject to adjustment as provided herein.

 

1.            Title
to Warrant. Prior to the Termination Date and subject to compliance with applicable laws and Section 7 of this Warrant, this
Warrant and all rights hereunder are transferable, in whole or in part, at the office or agency of the Company by the Holder in
person or by duly authorized attorney, upon surrender of this Warrant together with the Assignment Form annexed hereto properly
endorsed.

 

2.            Authorization
of Shares. The Company covenants that all Warrant Shares that may be issued upon the exercise of the purchase rights represented
by this Warrant will, upon exercise of said purchase rights, be duly authorized, validly issued, fully paid and non-assessable
and free from all liens and charges in respect of the issue thereof.

 

3.            Exercise
of Warrant. In order to exercise this warrant with respect to all or any part of the Warrant Shares for which this warrant
is at the time exercisable, Holder must take the following actions:

 

(a)          Deliver
to the Corporate Secretary of the Corporation an executed notice of exercise in substantially the form of notice attached to this
Agreement (the “Exercise Notice”) in which there is specified the number of Warrant Shares that are to be purchased
under the exercised warrant.

 

(b)          Pay
the aggregate Warrant Price for the purchased shares through one or more of the following alternatives:

 

     

     

    

 

(i)          full
payment in cash or by check made payable to the Company’s order;

 

(ii)         full
payment in shares of Common Stock valued at Fair Market Value on the trading day immediately preceding the Exercise Date (as such
terms are defined below);

 

(iii)        full
payment through a combination of shares of Common Stock valued at Fair Market Value on the trading day immediately preceding the
Exercise Date and cash or check payable to the Company’s order; or

 

(iv)        full
payment by means of a “cashless exercise” in which the Holder is entitled to receive, upon surrender of this warrant,
a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

(A) = the Fair Market Value per share on the trading
day immediately preceding the Exercise Date;

 

(B) = the Warrant Price; and

 

(X) = the number of shares with respect to which the
warrant is exercised as stated in the notice of exercise.

 

(c)          Furnish
to the Corporation appropriate documentation that the person or persons exercising the warrant (if other than Holder) have the
right to exercise this warrant.

 

(d)          For
purposes of this Agreement, the Exercise Date shall be the date on which the executed Exercise Notice shall have been delivered
to the Company. Payment of the Warrant Price for the purchased shares must accompany such Exercise Notice.

 

(e)          For
all valuation purposes under this Agreement, the Fair Market Value per share of Common Stock on any relevant date shall be determined
in accordance with the following provisions:

 

(i)          If
the Common Stock is at the time listed or admitted to trading on any national securities exchange, including the Nasdaq Stock Market,
then the Fair Market Value shall be the closing selling price per share on the date in question on the securities exchange averaged
over ten (10) consecutive Business Days ending on the Business Day immediately prior to the day as of which “Fair Market
Value” is being determined; provided, that if the Common Stock is listed on any domestic securities exchange, the
term “Business Day” as used in this Section 3(e) means Business Days on which stock markets in the United States are
open for trading. If there is no reported sale of Common Stock on such exchange on the date in question, then the Fair Market Value
shall be the closing selling price on the exchange on the last preceding date for which such quotation exists averaged over ten
(10) consecutive Business Days ending on the Business Day immediately prior to the day as of which “Fair Market Value”
is being determined.

 

(ii)         If
the Common Stock is not listed on such date on any national securities exchange, but is traded in the over-the-counter market,
the Fair Market Value shall be the closing price per share on the date in question of the Common Stock as reported on the applicable
OTC Market (the OTC Markets Group Inc. electronic inter-dealer quotation system, including OTCQX, OTCQB and OTC Pink) or similar
quotation system or association averaged over ten (10) consecutive Business Days ending on the Business Day immediately prior to
the day as of which “Fair Market Value” is being determined.

 

    	 	2	 

     

    

 

(iii)        If
at any time the Common Stock is not listed on any domestic securities exchange or quoted on the OTC Market or similar quotation
system or association, the “Fair Market Value” of the Common Stock shall be the fair market value per share as determined
jointly by the Board and the Holder.

 

(f)          Upon
such exercise and collection or receipt by the Company of the full Warrant Price for the Warrant Shares in respect of which this
warrant is exercised, the Company shall issue and cause to be delivered with all reasonable dispatch (and in any event within three
business days of such collection or receipt) to or upon the written order of the Holder at its address, and in the name of the
Holder, a certificate or certificates for the number of full Warrant Shares issuable upon the exercise together with such other
property (including cash) and securities as may then be deliverable upon such exercise. Such certificate or certificates shall
be deemed to have been issued and the Holder shall be deemed to have become a holder of record of such Warrant Shares as of the
Exercise Date. If payment in full of the Warrant Price for the Warrant Shares in respect of which this warrant is exercised is
not received within ten business days following the date on which notice of exercise is tendered to the Company, the Company may,
at its discretion, reject the notice of exercise back to the Holder and have no obligation to issue any of such Warrant Shares.

 

(g)          If
this Warrant shall have been exercised in part, the Company shall deliver to Holder a new Warrant evidencing the rights of Holder
to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical
with this Warrant.

 

4.            No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share that Holder would otherwise be entitled to purchase upon such exercise, the Company
shall pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price.

 

5.            Charges,
Taxes and Expenses. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue or
transfer tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses shall
be paid by the Company, and such certificates shall be issued in the name of the Holder or in such name or names as may be directed
by the Holder; provided, however, that in the event certificates for Warrant Shares are to be issued in a name other
than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto
duly executed by the Holder; and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse
it for any transfer tax incidental thereto.

 

6.            Closing
of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this
Warrant pursuant to the terms hereof.

 

7.            Transfer,
Division and Combination.

 

(a)          Subject
to compliance with any applicable securities laws and the conditions set forth in Sections 1 and 7(e) hereof, this Warrant and
all rights hereunder are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company,
together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its
agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender
and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or
assignees and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor
a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. A Warrant,
if properly assigned, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

 

    	 	3	 

     

    

 

(b)          This
Warrant may be divided or combined with other Warrants upon presentation hereof at the principal office of the Company, together
with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its
agent or attorney. Subject to compliance with Section 7(a), as to any transfer which may be involved in such division or combination,
the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined
in accordance with such notice.

 

(c)          The
Company shall prepare, issue and deliver at its own expense (other than transfer taxes) the new Warrant or Warrants under this
Section 7.

 

(d)          The
Company agrees to maintain, at its principal office, books for the registration and the registration of transfer of the Warrants.

 

(e)          In
connection with any transfer of this Warrant the Company may require, as a condition of allowing such transfer (i) that the Holder
or transferee of this Warrant, as the case may be, furnish to the Company a written opinion of counsel acceptable to the Company
(which opinion shall be in form, substance and scope customary for opinions of counsel in comparable transactions) to the effect
that such transfer may be made without registration under the Securities Act and under applicable state securities or blue sky
laws, and (ii) that the holder or transferee execute and deliver to the Company an investment letter in form and substance acceptable
to the Company.

 

8.            No
Rights as Shareholder until Exercise. This Warrant does not entitle the Holder to any voting rights or other rights as a shareholder
of the Company prior to the exercise hereof.

 

9.            Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it, and upon surrender and
cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate
of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

 

10.          Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall be a Saturday, Sunday or a legal holiday, then such action may be taken or such right may be exercised on
the next succeeding day not a Saturday, Sunday or legal holiday.

 

11.          Adjustments
of Exercise Price and Number of Warrant Shares.

 

(a)          Stock
Splits, etc. The number and kind of securities purchasable upon the exercise of this Warrant and the Exercise Price shall be
subject to adjustment from time to time upon the happening of any of the following. In case the Company shall (i) pay a dividend
in shares of Common Stock or make a distribution in shares of Common Stock to holders of its outstanding Common Stock, (ii) subdivide
its outstanding shares of Common Stock into a greater number of shares, (iii) combine its outstanding shares of Common Stock into
a smaller number of shares of Common Stock, or (iv) issue any shares of its capital stock in a reclassification of the Common Stock,
then the number of Warrant Shares purchasable upon exercise of this Warrant immediately prior thereto shall be adjusted so that
the Holder shall be entitled to receive the kind and number of Warrant Shares or other securities of the Company that it would
have owned or have been entitled to receive had this Warrant been exercised in advance thereof. Upon each such adjustment of the
kind and number of Warrant Shares or other securities of the Company that are purchasable hereunder, the Holder shall thereafter
be entitled to purchase the number of Warrant Shares or other securities resulting from such adjustment at an Exercise Price per
Warrant Share or other security obtained by multiplying the Exercise Price in effect immediately prior to such adjustment by the
number of Warrant Shares purchasable pursuant hereto immediately prior to such adjustment and dividing by the number of Warrant
Shares or other securities of the Company that are purchasable pursuant hereto immediately after such adjustment. An adjustment
made pursuant to this paragraph shall become effective immediately after the effective date of such event retroactive to the record
date, if any, for such event. No adjustment of the Exercise Price shall be made in an amount of less than 1% of the Exercise Price
in effect at the time such adjustment is otherwise required to be made, but any such lesser adjustment shall be carried forward
and shall be made at the time and together with the next subsequent adjustment which, together with any adjustments so carried
forward, shall amount to not less than 1% of such Exercise Price.

 

    	 	4	 

     

    

 

(b)          Reorganization,
Reclassification, Merger, Consolidation or Disposition of Assets. In case the Company shall reorganize its capital, reclassify
its capital stock, consolidate or merge with or into another corporation (where the Company is not the surviving corporation or
where there is a change in or distribution with respect to the Common Stock of the Company), or sell, transfer or otherwise dispose
of its property, assets or business to another corporation and, pursuant to the terms of such reorganization, reclassification,
merger, consolidation or disposition of assets, shares of common stock of the successor or acquiring corporation, or any cash,
shares of stock or other securities or property of any nature whatsoever (including warrants or other subscription or purchase
rights) in addition to or in lieu of common stock of the successor or acquiring corporation (“Other Property”),
are to be received by or distributed to the holders of Common Stock of the Company, then the Holder shall have the right thereafter
to receive upon exercise of this Warrant, the number of shares of common stock of the successor or acquiring corporation or of
the Company, if it is the surviving corporation, and Other Property 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. In case of any such reorganization, reclassification, merger, consolidation or disposition of
assets, the successor or acquiring corporation (if other than the Company) shall expressly assume the due and punctual observance
and performance of each and every covenant and condition of this Warrant to be performed and observed by the Company and all the
obligations and liabilities hereunder, subject to such modifications as may be deemed appropriate (as determined in good faith
by resolution of the Board of Directors of the Company) in order to provide for adjustments of Warrant Shares for which this Warrant
is exercisable which shall be as nearly equivalent as practicable to the adjustments provided for in this Section 11(b). For purposes
of this Section 11(b), “common stock of the successor or acquiring corporation” shall include stock of such corporation
of any class that is not preferred as to dividends or assets over any other class of stock of such corporation and that is not
subject to redemption and shall also include any evidences of indebtedness, shares of stock or other securities that are convertible
into or exchangeable for any such stock, either immediately or upon the arrival of a specified date or the happening of a specified
event and any warrants or other rights to subscribe for or purchase any such stock. The foregoing provisions of this Section 11(b)
shall similarly apply to successive reorganizations, reclassifications, mergers, consolidations or disposition of assets.

 

(c)          Voluntary
Adjustment by the Company. The Company may at any time during the term of this Warrant reduce the then current Exercise Price
to any amount and for any period of time deemed appropriate by the Board of Directors of the Company.

 

(d)          Notice
of Adjustment. Whenever the number of Warrant Shares or number or kind of securities or other property purchasable upon the
exercise of this Warrant or the Exercise Price is adjusted, as herein provided, the Company shall give notice thereof to the Holder,
which notice shall state the number of Warrant Shares (and other securities or property) purchasable upon the exercise of this
Warrant and the Exercise Price of such Warrant Shares (and other securities or property) after such adjustment, setting forth a
brief statement of the facts requiring such adjustment and setting forth the computation by which such adjustment was made.

 

    	 	5	 

     

    

 

(e)          Notice
of Corporate Action. If at any time:

 

(i)          the
Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive a dividend or other
distribution, or any right to subscribe for or purchase any evidences of its indebtedness, any shares of stock of any class or
any other securities or property, or to receive any other right, or

 

(ii)         there
shall be any capital reorganization of the Company, any reclassification or recapitalization of the capital stock of the Company
or any consolidation or merger of the Company with, or any sale, transfer or other disposition of all or substantially all the
property, assets or business of the Company to, another corporation or,

 

(iii)        there
shall be a voluntary or involuntary dissolution, liquidation or winding up of the Company;

 

then, in any one or more of such cases, the Company shall give
to Holder (i) at least 10 days’ prior written notice of the date on which a record date shall be selected for such dividend,
distribution or right or for determining rights to vote in respect of any such reorganization, reclassification, merger, consolidation,
sale, transfer, disposition, liquidation or winding up, and (ii) in the case of any such reorganization, reclassification, merger,
consolidation, sale, transfer, disposition, dissolution, liquidation or winding up, at least 10 days’ prior written notice
of the date when the same shall take place. Such notice in accordance with the foregoing clause also shall specify (i) the date
on which any such record is to be taken for the purpose of such dividend, distribution or right, the date on which the holders
of Common Stock shall be entitled to any such dividend, distribution or right, and the amount and character thereof, and (ii) the
date on which any such reorganization, reclassification, merger, consolidation, sale, transfer, disposition, dissolution, liquidation
or winding up is to take place and the time, if any such time is to be fixed, as of which the holders of Common Stock shall be
entitled to exchange their Warrant Shares for securities or other property deliverable upon such disposition, dissolution, liquidation
or winding up. Each such written notice shall be sufficiently given if addressed to Holder at the last address of Holder appearing
on the books of the Company and delivered in accordance with Section 13(d). Failure to provide any notice called for by this Section
13(d) shall not affect the validity or effectiveness of any action or transaction for which notice was not given.

 

12.          Authorized
Shares. The Company covenants that during the period the Warrant is outstanding, it will reserve from its authorized and unissued
Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase
rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its
officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for the
Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as
may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or
regulation, or of any requirements of the trading market upon which the Common Stock may be listed.

 

    	 	6	 

     

    

 

13.          Miscellaneous.

 

(a)          Jurisdiction.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be governed by and construed
and enforced in accordance with the internal laws of the State of Nevada, without regard to the principles of conflicts of law
thereof.

 

(b)          Restrictions.
The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, will have restrictions
upon resale imposed by state and federal securities laws.

 

(c)          Non-waiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate
as a waiver of such right or otherwise prejudice Holder’s rights, powers or remedies. The foregoing notwithstanding, all
rights hereunder terminate on the Termination Date. If any claim or action for breach of this Agreement is asserted by either party
hereto against the other, the non-prevailing party shall pay to the prevailing party all costs and expenses incurred in such claim
or action including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings and incurred
in collecting any amounts due or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

(d)          Notices.
Any notice, request or other document required or permitted to be given or delivered all notices or other communications or deliveries
required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of (a)
the date of transmission, if such notice or communication is delivered via facsimile or email and receipt is confirmed by telephone,
(b) the second business day following the date of mailing, if sent by U.S. nationally recognized overnight courier service, or
(c) upon actual receipt by the party to whom such notice is required to be given. The Holder’s address for such notices and
communications shall be the address of Holder as it appears in the books and records of the Company.

 

(e)          Limitation
of Liability. No provision hereof, in the absence of any affirmative action by Holder to exercise this Warrant or purchase
Warrant Shares, and no enumeration herein of the rights or privileges of Holder, shall give rise to any liability of Holder for
the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or
by creditors of the Company.

 

(f)          Remedies.
Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to
specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive the defense in any
action for specific performance that a remedy at law would be adequate.

 

(g)          Successors
and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure
to the benefit of and be binding upon the successors of the Company and the successors and permitted assigns of Holder. The provisions
of this Warrant are intended to be for the benefit of all Holders from time to time of this Warrant and shall be enforceable by
any such Holder or holder of Warrant Shares.

 

(g)          Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

 

    	 	7	 

     

    

 

(h)          Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions
of this Warrant.

 

(i)          Headings.
The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of
this Warrant.

 

[Signatures on next page.]

 

    	 	8	 

     

    

 

IN WITNESS WHEREOF, the
Company has caused this Warrant to be executed by its officer thereunto duly authorized to be effective February 1, 2018.

 

	 	 	VEGALAB, INC.
	 	 	 	 
	 	 	By:	/s/ David Selakovic
	 	 	Name:	David Selakovic
	 	 	Title:	Chief Executive Officer
	 	 	 
	Accepted effective February 1, 2018	 	 
	 	 	 
	/s/ Ryan Sweeney	 	 
	Ryan Sweeney	 	 

 

    	 	9	 

     

    

 

NOTICE OF EXERCISE

 

To:Vegalab, Inc.

 

(1)         The
undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only
if exercised in full), and tenders herewith payment of the exercise price in full.

 

(2)         Please
issue a certificate or certificates representing said Warrant Shares in the name of the undersigned or in such other name as is
specified below:

 

 

 

 

 

The Warrant Shares shall be delivered to the following:

 

 

 

 

 

 

 

 

(3)         Accredited
Investor. The undersigned is an “accredited investor” as defined in Regulation D under the Securities Act of 1933,
as amended.

 

	 	[PURCHASER]
	 	 	 
	 	By:	 
	 	Name:
	 	Title:
	 	 	 
	 	Dated:	 

 

    	 	10	 

     

    

 

ASSIGNMENT FORM

 

(To assign the foregoing warrant, execute

this form and supply required information.

Do not use this form to exercise the warrant.)

 

FOR VALUE RECEIVED, the
foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

_____________________________________________________________________
whose address is

 

____________________________________________________________________________________________

 

____________________________________________________________________________________________

 

	 	Dated:	 	_______________________, _______
	 	 	 	 
	 	Holder's Signature:	 	________________________________
	 	 	 	 
	 	Holder's Address:	 	________________________________
	 	 	 	________________________________

 

Signature Guaranteed: ___________________________________________

 

NOTE: The signature to this Assignment Form must correspond
with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatsoever, and must be
guaranteed by a bank or trust company. Officers of corporations and those acting in a fiduciary or other representative capacity
should file proper evidence of authority to assign the foregoing Warrant.

 

    	 	11

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