Document:

Exhibit
4.4

 

THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE
“U.S. Securities Act”) OR ANY APPLICABLE STATE SECURITIES LAWS. THE HOLDER HEREOF, BY PURCHASING SUCH SECURITIES, AGREES
FOR THE BENEFIT OF THE CORPORATION THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, DIRECTLY OR INDIRECTLY,
ONLY (A) TO THE CORPORATION, (B) OUTSIDE THE UNITED STATES IN COMPLIANCE WITH RULE 904 OF REGULATION S UNDER THE U.S. Securities Act
AND IN COMPLIANCE WITH LOCAL LAWS AND REGULATIONS, (C) IN COMPLIANCE WITH THE EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT
PROVIDED BY RULE 144 THEREUNDER, IF AVAILABLE, AND IN COMPLIANCE WITH ANY APPLICABLE STATE SECURITIES OR “BLUE SKY” LAWS,
OR (D) IN A TRANSACTION THAT DOES NOT REQUIRE REGISTRATION UNDER THE U.S. SECURITIES ACT OR ANY APPLICABLE STATE SECURITIES LAWS, AND,
IN THE CASE OF SUBPARAGRAPH (C) OR (D), THE SELLER FURNISHES TO THE CORPORATION AN OPINION OF COUNSEL OF RECOGNIZED STANDING OR SUCH
OTHER EVIDENCE AS THE CORPORATION MAY REQUIRE IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE CORPORATION TO SUCH EFFECT. DELIVERY
OF THIS CERTIFICATE MAY NOT CONSTITUTE “GOOD DELIVERY” IN SETTLEMENT OF TRANSACTIONS ON STOCK EXCHANGES IN CANADA.

 

WARRANT
TO PURCHASE COMMON SHARES

OF HOLLYWEED NORTH CANNABIS INC.

 

Effective
Date: As of January 22, 2021

 

This
certifies that [NAME], a [STATE] company (“[Name]”), or registered assigns, is the registered holder of the
Warrant (this “Warrant”) represented by this Warrant Certificate (this “Warrant Certificate”),
which entitles [Name] or any subsequent holder of this Warrant (each a “Holder”), subject to the provisions contained
herein, to purchase from HOLLYWEED NORTH CANNABIS INC., a corporation organized under the laws of British Columbia (the “Company”),
such number of the Class A common shares of the Company (the “Common Shares”), as set forth in Section 2.1 herein,
subject to adjustment upon the occurrence of certain events specified herein, at the Exercise Price (as defined below), subject to adjustment
upon the occurrence of certain events specified herein.

 

		1.	DEFINITIONS.

 

As
used in this Warrant, the following terms shall have the following meanings:

 

BCBCA:
the Business Corporations Act (British Columbia).

 

Board:
the board of directors of the Company.

 

Business
Day: any day that is not a day on which banking institutions are authorized or required to be closed in the jurisdiction in which
the principal office of the Company is located.

 

CDN,
Dollars or $: means Canadian dollars.

 

Common
Shares: the voting Class A Common Shares of the Company.

 

Company:
HollyWeed North Cannabis Inc., a corporation organized under the laws of British Columbia, Canada.

 

     

     

    

 

Company
Formation Documents: the Amended and Restated Articles of Incorporation of the Company, dated May 27, 2019, as filed under the BCBCA,
as the same may be amended from time to time.

 

Effective
Exercise Date: the meaning set forth in Section 4.

 

Effective
Issuance Price: the meaning set forth in Section 4.5.

 

Excess
Tender Amount: the meaning set forth in Section 4.3.

 

Exchange
Act: the Securities Exchange Act of 1934, as amended.

 

ex-date:
when used with respect to any issuance or distribution, means the first Business Day after the record date, provided that if the
Common Shares are then traded on a Recognized Securities Market (for the avoidance of doubt, for purposes of this Warrant and any related
agreements, including Nasdaq) it shall mean the first date on which the Common Shares trade regular way on the relevant exchange or in
the relevant market from which the Fair Market Value was obtained without the right to receive such issuance or distribution.

 

Exercise
Date: the meaning set forth in Section 2.2.

 

Exercise
Price: subject to the adjustment provisions set forth in this Warrant, shall mean CDN twelve cents (CDN$0.12) per share, subject
to the adjustment provisions hereinafter set forth.

 

Expiration
Date: the meaning set forth in Section 2.3.

 

Holder:
from time to time, the holder(s) of this Warrant.

 

Line
of Credit Note: the CDN$6,675,000 secured convertible promissory note of the Company and its subsidiaries issued to Origo Holdings
Inc.

 

Nasdaq:
the Nasdaq Stock Exchange, including the Nasdaq Capital Market.

 

Person:
any individual, corporation, partnership, joint venture, association, joint stock company, trust, unincorporated organization or government
or any agency or political subdivision thereof.

 

Premium
Per Pro Forma Share: the meaning set forth in Section 4.3.

 

Recognized
Securities Market. any one of the Nasdaq, the New York Stock Exchange, the NYSE:American Exchange, the OTC Markets (including the
OTCQX platform), the Canadian Securities Exchange, the Toronto Stock Exchange, the TSX Venture Exchange, the NEO Exchange or any other
United States or foreign stock exchange that constitutes the principal securities exchange on which the Common Shares is then traded.

 

Registration
Statement: a registration statement on Form F-1 (or other applicable form for registering securities under the Securities Act) as
filed by the Company with the SEC in connection with an initial public offering of the Common Shares in the United States.

 

    2

     

    

 

Registrable
Securities: means the Common Shares issuable under this Warrant as well as any Common Shares issuable upon conversion of the Line
of Credit Note. Registrable Securities shall continue to be Registrable Securities (whether they continue to be held by [Name] or they
are sold to other Persons) until (i) they are sold outside of the United States in accordance with any applicable Canadian securities
laws, (ii) pursuant to an effective registration statement under the Securities Act or (iii) they shall have otherwise been transferred
(including pursuant to Rule 144 under the Securities Act) and new securities not subject to transfer restrictions under any federal securities
laws and not bearing any legend restricting further transfer shall have been delivered by the Company, all applicable holding periods
shall have expired, and no other applicable and legally binding restriction on transfer by the holder thereof shall exist.

 

Reorganization
Event: the meaning set forth in Section 4.4.

 

Rights
to Purchase Securities: means options, warrants and rights issued by the Company (whether presently exercisable or not) to purchase
Common Shares that are convertible or exchangeable (whether presently convertible or exchangeable or not) into or exercisable (whether
presently exercisable or not) for Voting Securities but, for the avoidance of doubt, not including a shareholders rights plan.

 

Securities
Act: the United States Securities Act of 1933, as amended.

 

Transfer:
the meaning set forth in Section 2.5.

 

Voting
Securities means the Common Shares and any other securities of the Company having power generally to vote in the election of members
of the Board.

 

Warrant
Shares: means the Common Shares issuable or issued upon the exercise of this Warrant, consisting of [NUMBER] ([NUMBER]) Common Shares,
subject to adjustment as provided herein.

 

		2.	EXERCISE
PRICE; EXERCISE OF WARRANT AND EXPIRATION OF WARRANT.

 

2.1. Exercise
Price. Subject to the terms of this Warrant, including all of the adjustment provisions hereof, the Holder hereof shall be entitled
upon exercise of this Warrant to purchase all or any portion of the Warrant Shares upon exercise the Warrant made on or prior to the
date of exercise hereof, at the Exercise Price then in effect.

 

2.2. Exercise
of Warrant. This Warrant shall be exercisable in whole or in part from time to time on any Business Day (each, an “Exercise
Date”) beginning on January 22, 2021 and ending on the Expiration Date (the “Exercise Period”), in the manner
provided for herein.

 

2.3. Expiration
of Warrants. This Warrant shall expire and the rights of the Holder of this Warrant to purchase Warrant Shares shall terminate at
the close of business on November 5, 2025 (the “Expiration Date”).

 

2.4. Method
of Exercise; Payment of Exercise Price. Other than as agreed between the Company and the Holder, in order to exercise this Warrant,
the Holder hereof must surrender this Warrant to the Company, with the form on the reverse of or attached to this Warrant duly executed
along with payment in full of the Exercise Price then in effect for the number of Warrant Shares as to which this Warrant is submitted
for exercise.

 

    3

     

    

 

Any
such payment of the Exercise Price pursuant to clause (2) above shall be payable in cash or other same-day funds. Upon the surrender
of this Warrant following one or more partial exercises, unless this Warrant has expired, a new Warrant of the same tenor representing
the number of shares of Warrant Shares, if any, with respect to which this Warrant shall not then have been exercised, shall promptly
be issued and delivered to the Holder.

 

Upon
surrender of this Warrant in conformity with the foregoing provisions, the Company shall instruct its transfer agent to transfer to the
Holder of such Warrant appropriate evidence of ownership of any shares of Warrant Shares or other securities or property (including any
money) to which the Holder is entitled, registered or otherwise placed in, or payable to the order of, such name or names as may be directed
in writing by the Holder, and shall deliver such evidence of ownership and any other securities or property (including any money) to
the Person or Persons entitled to receive the same, together with an amount in cash in lieu of any fraction of a share as provided in
Section 4.7. Upon payment of the Exercise Price therefor, a Holder shall be deemed to own and have all of the rights associated with
any Warrant Shares or other securities or property (including money) to which it is entitled pursuant to this Warrant upon the surrender
of this Warrant in accordance herewith. If the Holder shall direct that such securities be registered in a name other than that of the
Holder, such direction shall be tendered in conjunction with a signature guarantee from an eligible guarantor institution participating
in a signature guarantee program approved by the Securities Transfer Association, and any other reasonable evidence of authority that
may be required by the Company.

 

2.5. Compliance
with the Securities Laws.

 

(a) This
Warrant may not be exercised (and the Company shall be under no obligation to process any exercise), and no Warrant Shares may be sold,
transferred pledged, hypothecated, or otherwise disposed of (any such sale, transfer or other disposition, a “Transfer”),
except in compliance with this Section 2.5.

 

(b) A
Holder may exercise this Warrant and may Transfer this Warrant or any and all of his or its Warrant Shares to either (i) a transferee
that is an “accredited investor” or a “qualified institutional buyer,” as such terms are defined in applicable
Canadian securities laws, Regulation D and Rule 144A under the Securities Act, respectively, or (ii) any transferee, if the Warrant Shares
have been registered for resale under the Securities Act and qualified or exempt for sale under applicable Canadian securities laws.

 

(c) In
addition to the foregoing, a Holder may exercise this Warrant and may Transfer this Warrant or his or its Warrant Shares in accordance
with Regulation S under the Securities Act or in any transaction that is registered under the Securities Act.

 

		3.	LEGENDS,
REGISTRATION AND VOLUNTARY ESCROW.

 

3.1. Legends.
Subject to Section 3.2, each certificate, instrument, or book entry representing (i) the Class A Common Shares, (ii) the Registrable
Securities, and (iii) any other securities issued in respect of the securities referenced in clauses (i) and (ii), upon any share split,
share dividend, recapitalization, merger, consolidation, or similar event, shall (unless otherwise permitted by the provisions of Section
4) be notated with a legend, and no other legend, substantially in the following form:

 

THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE
“U.S. Securities Act”) OR ANY APPLICABLE STATE SECURITIES LAWS. THE HOLDER HEREOF, BY PURCHASING SUCH SECURITIES, AGREES
FOR THE BENEFIT OF THE CORPORATION THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, DIRECTLY OR INDIRECTLY,
ONLY (A) TO THE CORPORATION, (B) OUTSIDE THE UNITED STATES IN COMPLIANCE WITH RULE 904 OF REGULATION S UNDER THE U.S. Securities Act
AND IN COMPLIANCE WITH LOCAL LAWS AND REGULATIONS, (C) IN COMPLIANCE WITH THE EXEMPTION FROM REGISTRATION UNDER THE U.S. Securities Act
PROVIDED BY RULE 144 THEREUNDER, IF AVAILABLE, AND IN COMPLIANCE WITH ANY APPLICABLE STATE SECURITIES OR “BLUE SKY” LAWS,
OR (D) IN A TRANSACTION THAT DOES NOT REQUIRE REGISTRATION UNDER THE U.S. Securities Act OR ANY APPLICABLE STATE SECURITIES LAWS, AND,
IN THE CASE OF SUBPARAGRAPH (C) OR (D), THE SELLER FURNISHES TO THE CORPORATION AN OPINION OF COUNSEL OF RECOGNIZED STANDING OR SUCH
OTHER EVIDENCE AS THE CORPORATION MAY REQUIRE IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE CORPORATION TO SUCH EFFECT. DELIVERY
OF THIS CERTIFICATE MAY NOT CONSTITUTE “GOOD DELIVERY” IN SETTLEMENT OF TRANSACTIONS ON STOCK EXCHANGES IN CANADA.

 

    4

     

    

 

3.2. Registration.
If at any time the Company registers or intends to register under the Securities Act, or qualify for distribution in Canada under applicable
Canadian securities laws, any Common Shares, Rights to Purchase Securities or any other securities convertible, exchangeable or exercisable
for Common Shares or other Voting Securities on a registration statement under the Securities Act or a prospectus under applicable Canadian
securities laws, or grants any demand or piggyback registration rights to any other holder of Common Shares, Rights to Purchase Securities
or any other securities convertible, exchangeable or exercisable for Common Shares or shares of Voting Securities, the Company shall
offer to the Holder of this Warrant to register the Warrant Shares of such Holder on no less favorable terms and conditions and/or enter
into an agreement on customary terms and conditions with the Holder of this Warrant granting to such Holder pari passu registration
rights with respect to the Registrable Securities of such Holder, as applicable. Notwithstanding the foregoing, the provisions of this
Section 3.1 shall not apply to an initial public offering of Common Shares or other securities of the Company, unless that Company shall
also register for resale in such initial public offering Common Shares owned by other shareholders.

 

3.3. Voluntary
Escrow. [Name] agrees that in addition to any escrow restrictions applicable to the Warrant or Warrant Shares pursuant to the polices
of any Recognized Securities Market upon which the Registrable Securities will be listed for trading and applicable laws, all of the
Registrable Securities (including any Warrant Shares issued upon exercise of the Warrants) issued to the Subscriber will be subject to
a one year hold period commencing on the date that the Registrable Securities begin trading on a Recognized Securities Market (the “Voluntary
Escrow”), to be determined as follows:

 

(a) [Name]
acknowledges and agrees that, at the Closing (as defined herein), or such other time as determined by the Company in its sole discretion,
the certificates representing the Registrable Securities, will be delivered to an escrow agent to be determined by the Company in its
sole discretion (the “Escrow Agent”) and held in escrow by the Escrow Agent pursuant to the terms and conditions of
a voluntary escrow agreement (an “Escrow Agreement”), in such form as is satisfactory to the Company, to be executed
by [Name] at the request of the Company. The Escrow Agreement will provide, among other things, that 1/12 of the Registrable Securities
will be released on each of the first day of each month following the date on which Company’s Registrable Securities commence trading
on a Recognized Securities market.

 

(b) The
Escrow Agreement will further provide that [Name] will be entitled to vote any of the Registrable Securities that are held in escrow,
but will not be entitled to transfer, option or otherwise encumber any of the Registrable Securities without the prior written consent
of the Company

 

(c) In
addition to the legends set forth in Section 3.1, the certificates for the Registrable Securities may, as determined in the sole discretion
of the Company, bear a legend to evidence that the Registrable Securities are subject to the Voluntary Escrow.

 

(d) As
and so often as the Company may require, [Name] will execute and deliver to the Company all such further documents, do or cause to be
done all such further acts and things, and give all such further assurances as in the opinion of the Company or its counsel are necessary
or advisable to give full effect to the Voluntary Escrow.

 

    5

     

    

 

		4.	ADJUSTMENTS.

 

4.1. Adjustments
upon Certain Transactions.

 

(a) The
Exercise Price and the number of Warrant Shares issuable upon exercise of this Warrant shall be adjusted in the event the Company (i)
pays a dividend or makes any other distribution with respect to any of its Common Shares solely in Common Shares, (ii) subdivides its
outstanding Common Shares, or (iii) combines its outstanding Common Shares into a smaller number of shares. In such event, the number
of Warrant Shares issuable upon exercise of this Warrant immediately prior to the record date of such dividend or distribution or the
effective date of such subdivision or combination (the “Effective Exercise Date”) shall be adjusted so that the Holder
of this Warrant shall thereafter be entitled to receive the number of Warrant Shares that such Holder would have owned or have been entitled
to receive after the happening of any of the events described above, had the Warrant been exercised immediately prior to the happening
of such event or any record date with respect hereto.

 

In
addition, upon an adjustment pursuant to this Section 4.1, the Exercise Price for each of the Warrant Shares payable upon exercise of
this Warrant shall be adjusted (without rounding) so that it shall equal the product of the Exercise Price immediately prior to such
adjustment multiplied by a fraction, the numerator of which shall be the number of Warrant Shares issuable upon the exercise of this
Warrant immediately prior to such adjustment, and the denominator of which shall be the number of Warrant Shares so issuable immediately
thereafter. Such adjustment shall become effective immediately after the Effective Exercise Date of such event retroactive to the record
date, if any, for such event.

 

(b) For
avoidance of doubt, the adjustment contemplated by this section can be expressed by formula as follows:

 

Ub
= Warrant Shares underlying this Warrant before the adjustment

 

Ua
= Warrant Shares underlying this Warrant after the adjustment

 

Pb
= exercise price per share before the adjustment

 

Pa
= exercise price per share after the adjustment

 

Ob
= shares outstanding before the transaction in question

 

Oa
= shares outstanding after the transaction in question

 

Ua
= Ub x Oa / Ob

 

Pa
= Pb x Ob / Oa

 

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4.2. Dividends
and Distributions.

 

(a) If
the Company shall fix a record date for the payment of a dividend or the making of a distribution with respect to any of its Common Shares,
(other than one covered by Section 4.1), then the Exercise Price to be in effect after the record date for such dividend or distribution
shall be determined (without rounding) by multiplying (x) the Exercise Price in effect immediately prior to such record date by (y) a
fraction, the numerator of which shall be the Fair Market Value per share of Common Shares as of the last Business Day (or, if the Common
Shares is then traded on a Recognized Securities Market, the last trading day) before the ex-date less the Fair Market Value of the cash,
securities (excluding Common Shares that is the same class of securities for which this Warrant would be exercisable immediately after
such distribution or dividend taking into account the adjustments pursuant to this Article 4) or other property paid per share in such
dividend or distribution, and the denominator of which shall be the Fair Market Value per share of Common Shares as of the last Business
Day (or, if the Common Shares is then traded on a Recognized Securities Market, the last trading day) before the ex-date. Upon any adjustment
of the Exercise Price pursuant to Section 4.2(a), the total number of Common Shares purchasable upon the exercise of this Warrant shall
be such number of shares (calculated to the nearest thousandth) purchasable immediately prior to such adjustment multiplied by a fraction,
the numerator of which shall be the Exercise Price in effect immediately before such adjustment and the denominator of which shall be
the Exercise Price in effect immediately after such adjustment.

 

(b) For
avoidance of doubt, the adjustment contemplated by Section 4.2(a)(2) can be expressed by formula as follows:

 

Ub
= Warrant Shares underlying this Warrant before the adjustment

 

Ua
= Warrant Shares underlying this Warrant after the adjustment

 

Pb
= exercise price per share before the adjustment

 

Pa
= exercise price per share after the adjustment

 

M
= Fair Market Value per share of Common Shares as of the last Business Day (or, if applicable, trading day) before ex-date

 

D
= Fair Market Value of the dividend or distribution made per share of Common Shares

 

Ua
= Ub x M / (M - D)

 

Pa
= Pb x (M - D) / M

 

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4.3. Tender
Offers. If a publicly-announced tender offer or issuer bid made by the Company or any of its subsidiaries for all or any portion
of the Common Shares shall expire and tendering holders of Common Shares are paid aggregate consideration having a Fair Market Value
when paid which exceeds the aggregate Fair Market Value of the Common Shares acquired in such tender offer as of the last Business Day,
or, if applicable, trading day before the date on which such tender offer is first publicly announced (such excess, the “Excess
Tender Amount”), then the Exercise Price to be in effect after the tender offer expires shall be determined (without rounding)
by multiplying (x) the Exercise Price in effect immediately prior to such adjustment by (y) a fraction, the numerator of which shall
be the Fair Market Value per share of the Common Shares as of the last trading day before the date on which such tender offer is first
publicly announced less the Premium Per Pro Forma Share, and the denominator of which shall be the Fair Market Value per share of Common
Shares as of the last Business Day, or, if applicable, trading day before the date on which such tender offer is first publicly announced.
As used herein, “Premium Per Pro Forma Share” means (x) the Excess Tender Amount divided by (y) the number of Common Shares
outstanding at expiration of the tender offer after giving pro forma effect to the purchase of shares in the tender offer. Upon any adjustment
of the Exercise Price pursuant to this Section 4.3, the total number of Warrant Shares purchasable upon the exercise of this Warrant
shall be such number of Warrant Shares (calculated to the nearest thousandth) purchasable immediately prior to such adjustment multiplied
by a fraction, the numerator of which shall be the Exercise Price in effect immediately before such adjustment and the denominator of
which shall be the Exercise Price in effect immediately after such adjustment. For avoidance of doubt, the adjustment contemplated by
this section can be expressed by formula as follows:

 

Ub
= Warrant Shares underlying this Warrant before the adjustment

 

Ua
= Warrant Shares underlying this Warrant after the adjustment

 

Pb
= exercise price per share before the adjustment

 

Pa
= exercise price per share after the adjustment

 

M
= Fair Market Value per share of Common Shares as of the last Business Day (or, if applicable, trading day) before the tender offer is
announced

 

E
= Excess Tender Amount (the aggregate premium paid in the tender offer)

 

Pr
= Premium Per Pro Forma Share Oa = Shares outstanding after giving effect to tender offer

 

Pr
= E / Oa

 

Ua
= Ub x M / (M - Pr)

 

Pa
= Pb x (M - Pr) / M

 

    8

     

    

 

4.4. Consolidation,
Merger or Sale. If any consolidation, merger, amalgamation, arrangement or similar extraordinary transaction of the Company with
another entity, or the sale of all or substantially all of its assets, or any recapitalization or reclassification of the Common Shares,
shall be effected (a “Reorganization Event”), and in connection with such Reorganization Event, the Warrant Shares
shall be converted into or exchanged for or become the right to receive cash, securities or other property, then, as a condition of such
Reorganization Event, lawful and adequate provisions shall be made by the Company whereby the Holder of this Warrant shall thereafter
have the right to purchase and receive on exercise of this Warrant, for an aggregate price equal to the aggregate Exercise Price for
all of the Warrant Shares underlying this Warrant as in effect immediately before such transaction (subject to adjustment thereafter
as contemplated by the succeeding sentence), the same kind and amount of cash, securities or other property as it would have had the
right to receive if it had exercised this Warrant immediately before such transaction and been entitled to participate therein. In the
event of any such Reorganization Event, the Company shall make appropriate provision to ensure that applicable provisions of this Warrant
(including, without limitation, the provisions of this Article 4) shall thereafter be binding on the other party to such transaction
(or the successor in such transaction) and applicable to any securities thereafter deliverable upon the exercise of this Warrant. The
Company will not effect any such Reorganization Event unless, prior to the consummation thereof, the successor entity (if other than
the Company) resulting from such Reorganization Event or the entity purchasing such assets shall assume by written instrument reasonably
satisfactory in form and substance to the Holder of this Warrant, executed and mailed or delivered to the Holder at the last address
of such Holder appearing on the books of the Company, the obligation to deliver the cash, securities or property deliverable upon exercise
of this Warrant. The Company shall notify the Holder of this Warrant of any such proposed Reorganization Event reasonably prior to the
consummation thereof so as to provide such Holder with a reasonable opportunity prior to such consummation to exercise this Warrant in
accordance with the terms and conditions hereof; provided, however, that in the case of a transaction which requires notice to be given
to the holders of Common Shares of the Company, the Holder of this Warrant shall be provided the same notice given to the holders of
other Common Shares of the Company.

 

4.5. Full-Ratchet
Adjustment for Lower Revaluations. In the case of (a) any issuance of Common Shares, rights or options to acquire Common Shares or
securities convertible or exchangeable into, or exercisable for Common Shares (other than Common Shares underlying rights or options
to acquire Common Shares or securities convertible or exchangeable into Common Shares, in each case that are issued and outstanding on
the date hereof or that are issued to directors, officers or employees of the Company pursuant to the terms of a stock option plan that
is in existence as of the date hereof), or (b) the amendment to or change in the exercise, conversion or exchange price of such securities,
in each case for an Effective Issuance Price that is lower than the Exercise Price (in each case, other than issuances, amendments or
changes covered by Section 4.1, 4.2, 4.3 or 4.4), the Exercise Price for this Warrant shall be further reduced to an amount equal to
the Effective Issuance Price.

 

As
used herein, the “Effective Issuance Price” shall be:

 

(i) with
respect to Common Shares issued for cash the per share amount of the net cash proceeds received by the Company for such Common Shares;

 

(ii) with
respect to Common Shares issued for other consideration, the Fair Market Value of the net consideration calculated on a per share basis;

 

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(iii) with
respect to any option, warrant or other right to acquire Common Shares, whether direct or indirect and whether or not conditional or
contingent, the sum of (a) the Fair Market Value of the aggregate consideration, if any, received by the Company for the issuance of
such option, warrant or right divided by the number of Common Shares into which such option, warrant or right is exercisable at time
of issuance, plus (b) the per share amount of the exercise price to the extent paid in cash and per share Fair Market Value of the exercise
price if paid in other consideration; and

 

(iv) with
respect to securities convertible or exchangeable into Common Shares, the net consideration per security paid for such securities (to
the extent paid in cash) or the net Fair Market Value of the consideration per security paid for such securities if the price for such
securities is paid in other consideration, as of the date of their issuance divided by the number of Common Shares for which such securities
are convertible or exchangeable.

 

For
the avoidance of doubt, the Exercise Price of this Warrant shall in no event be increased pursuant to this Section 4.5.

 

4.6. Fractional
Shares. No fractional shares shall be issued upon exercise of this Warrant. Instead, the Company shall pay to the Holder, in lieu
of issuing any fractional share, a sum in cash equal to such fraction multiplied by the Fair Market Value of a share of Common Shares,
as determined by the Company’s Chief Executive Officer, Chief Financial Officer or Board, on the Business Day or, if applicable,
trading day immediately prior to the date of exercise.

 

4.7. Notice
of Adjustment. Prior to the consummation of any transaction, action or other event that would trigger an adjustment (or right to
adjustment) under this Section 4, the Company shall mail to the Holder by first class mail, postage prepaid, no later than ten (10) Business
Days prior to such consummation notice of such transaction, action or other event, along with reasonable details with respect thereto.
Whenever the number of Common Shares or other stock or property issuable upon the exercise of this Warrant or the Exercise Price is adjusted,
as herein provided, the Company shall promptly mail by first class mail, postage prepaid, to the Holder notice of such adjustment or
adjustments and shall deliver a certificate of a firm of independent public accountants selected by the Board (who may be the regular
accountants employed by the Company) setting forth the number of Common Shares or other stock or property issuable upon the exercise
of this Warrant and the Exercise Price 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.	WARRANT
TRANSFER BOOKS.

 

The
Company shall cause to be kept at its principal office a register in which, subject to such reasonable regulations as it may prescribe,
the Company shall provide for the registration of this Warrant Certificate and of transfers or exchanges of this Warrant Certificate
as herein provided.

 

At
the option of the Holder, this Warrant Certificate may be exchanged at such office, and upon payment of the charges hereinafter provided.
Whenever this Warrant Certificate is so surrendered for exchange, the Company shall execute and deliver the Warrant Certificates that
the Holder making the exchange is entitled to receive.

 

All
Warrant Certificates issued upon any registration of transfer or exchange of this Warrant Certificate shall be the valid obligations
of the Company, evidencing the same obligations, and entitled to the same benefits, as the Warrant Certificate surrendered for such registration
of transfer or exchange.

 

If
this Warrant Certificate is surrendered for registration of transfer or exchange it shall (if so required by the Company) be duly endorsed,
or be accompanied by a written instrument of transfer in form satisfactory to the Company, duly executed by the Holder hereof or his
attorney duly authorized in writing.

 

No
service charge shall be made to the Holder for any registration of transfer or exchange of this Warrant Certificate. The Company may
require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration
of transfer or exchange of this Warrant Certificate.

 

The
Warrant Certificate when duly endorsed in blank shall be deemed negotiable and when this Warrant Certificate shall have been so endorsed,
the Holder hereof may be treated by the Company and all other persons dealing therewith as the absolute owner hereof for any purpose
and as the Person entitled to exercise the rights represented hereby, or to the transfer hereof on the register of the Company, any notice
to the contrary notwithstanding; but until such transfer on such register, the Company shall treat the registered Holder hereof as the
owner for all purposes. No such transfer shall be registered until the Company has been supplied with the aforementioned instruments
of transfer and any other such documentation as the Company may reasonably require.

 

    10

     

    

 

		6.	WARRANT
HOLDER.

 

6.1. Right
of Action. All rights of action in respect of this Warrant are vested in the Holder hereof, and the Holder, without the consent of
the Company, may, on such Holder’s own behalf and for such Holder’s own benefit, enforce, and may institute and maintain
any suit, action or proceeding against the Company suitable to enforce, or otherwise in respect of, such Holder’s right to exercise
or exchange this Warrant in the manner provided herein or any other obligation of the Company under this Warrant.

 

		7.	REPRESENTATIONS
AND COVENANTS.

 

7.1. Reservation
of Common Shares for Issuance on Exercise of Warrant. The Company covenants that it will at all times reserve and keep available,
free from pre-emptive rights, out of its authorized but unissued Common Shares, solely for the purpose of issue upon exercise of this
Warrant as herein provided, such number of Common Shares as shall then be issuable upon the exercise of all Warrant Shares issuable hereunder
plus such number of Common Shares as shall then be issuable upon the exercise of other outstanding warrants, options and rights (whether
or not vested), the settlement of any forward sale, swap or other derivative contract, and the conversion of all outstanding convertible
securities or other instruments convertible into Common Shares or rights to acquire Common Shares. The Company covenants that all Warrant
Shares and other Common Shares which shall be issuable shall, upon such issue, be duly and validly issued and fully paid and non-assessable.

 

7.2. Notice
of Dividends. At any time when the Company declares any dividend on its Common Shares, it shall give notice to the Holder of this
Warrant of any such declaration not less than 15 days prior to the related record date for payment of the dividend so declared.

 

7.3. Capitalization.
The Company represents and warrants to the Holder that as of the date hereof, the Company has 83,130,498 Common Shares outstanding
and on a fully diluted basis, before giving effect to this Warrant or the Common Shares issuable on conversion of the Line of Credit
Note, the Company has 89,787,688 Common Shares on a fully diluted basis. To the extent that this representation is not true as of the
date hereof and there are more Common Shares outstanding then set out above (actual or on a diluted basis), the number of Warrant Shares
shall be increased such that the Warrant would exercise into 44% of the Common Shares on a diluted as were then outstanding as of the
date hereof. For greater certainty, should there be fewer Common Shares outstanding than as set out in this representation, no adjustment
shall be made to the number of Warrant Shares issuable on exercise of the Warrant.

 

		8.	MISCELLANEOUS.

 

8.1. Payment
of Taxes. The Company shall pay all transfer, stamp and other similar taxes that may be imposed in respect of the issuance or delivery
of this Warrant or in respect of the issuance or delivery by the Company of any securities upon exercise of this Warrant with respect
thereto. The Company shall not be required, however, to pay any tax or other charge imposed in connection with any transfer involved
in the issue of any certificate for Common Shares or other securities underlying this Warrant or payment of cash to any Person other
than the Holder of this Warrant Certificate surrendered upon the exercise or purchase of this Warrant, and in case of such transfer or
payment, the Company shall not be required to issue any stock certificate to pay any cash until such tax or charge has been paid or it
has been established to the Company’s satisfaction that no such tax or other charge is due. The Company and the Holder agree that
the issuance and exercise of this Warrant is a capital transaction and not a compensatory transaction, and any Holder who is not a U.S.
person for U.S. federal income tax purposes hereby represents that the Warrant Shares would, if owned by such Holder, be capital assets
in its hands for U.S. Federal income tax purposes.

 

    11

     

    

 

8.2. Surrender
of Certificates. Any Warrant Certificate surrendered for exercise or purchase shall, if surrendered to the Company, be promptly cancelled
and destroyed and shall not be reissued by the Company.

 

8.3. Mutilated,
Destroyed, Lost and Stolen Warrant Certificates. If (a) a mutilated Warrant Certificate is surrendered to the Company or (b) the
Company receives evidence to its satisfaction of the destruction, loss or theft of the Warrant Certificate, and there is delivered to
the Company such appropriate affidavit of loss, applicable processing fee and a corporate bond of indemnity as may be required by it
to save it harmless, then, in the absence of notice to the Company that the Warrant Certificate has been acquired by a bona fide purchaser,
the Company shall execute and deliver, in exchange for such mutilated Warrant Certificate or in lieu of such destroyed, lost or stolen
Warrant Certificate, a new Warrant Certificate of like tenor and for a like aggregate number of shares of Warrant Shares, if any, with
respect to which this Warrant shall not then have been exercised.

 

Upon
the issuance of any new Warrant Certificate under this Section 8.3, the Company may require the payment of a sum sufficient to cover
any tax or other governmental charge that may be imposed in relation thereto and other expenses in connection therewith.

 

Any
new Warrant Certificate executed and delivered pursuant to this Section 8.3 in lieu of a destroyed, lost or stolen Warrant Certificate
shall constitute an original contractual obligation of the Company, whether or not the destroyed, lost or stolen Warrant Certificate
shall be at any time enforceable by anyone, and shall be subject to the same terms as this Warrant.

 

The
provisions of this Section 8.3 are exclusive and shall preclude (to the extent lawful) all other rights or remedies with respect to the
replacement of a mutilated, destroyed lost, or stolen Warrant Certificate.

 

8.4. Notices.
Any notice, demand or delivery authorized by this Warrant shall be sufficiently given or made when mailed if sent by first-class mail,
postage prepaid, addressed to the Holder of this Warrant at such Holder’s address shown on the register of the Company and to the
Company at its principal address, addressed to the Secretary of the Company, in each case or such other address as shall have been furnished
to the party giving or making such notice, demand or delivery.

 

8.5. Applicable
Law. This Warrant and all rights arising hereunder shall be governed by the laws of British Columbia and the federal laws of Canada
applicable therein.

 

8.6. Amendments.
This Warrant may only be amended with the prior written consent of the Holder and the Company.

 

8.7. Headings.
The descriptive headings of the several Articles and Sections of this Warrant are inserted for convenience and shall not control or affect
the meaning or construction of any of the provisions hereof.

 

    12

     

    

 

IN
WITNESS WHEREOF, this Warrant has been duly executed and delivered by the Company, by order of its Board of Directors, this 22nd
day of January 2021.

 

	
     

     
	HOLLYWEED NORTH CANNABIS INC.
	 	By:	 
	 	Name:	Renee Gagnon
	 	Title:	President & Director
	 	 	 

 

	ACCEPTED AND AGREED TO:	 
	 	 
	[NAME]	 
	 	 
	By:	      	 

 

    13

     

    

 

EXHIBIT
A

 

FORM OF EXERCISE

 

(To be executed upon exercise of Warrant.)

 

The
undersigned hereby irrevocably elects to exercise the Warrant represented by this Warrant Certificate, to purchase _______ Common Shares,
in the form of Common Shares (“Warrant Shares”), of HollyWeed North Cannabis Inc. in accordance with the Warrant Certificate,
and in accordance with the terms set forth below.

 

By
checking the appropriate paragraph election, the undersigned hereby exercises the Warrant, as follows:.

 

______[check
if applicable] Having the Company withhold, from the total number of Common Shares that would otherwise be delivered to the undersigned
upon such exercise, that lower number of Common Shares issuable upon exercise of this Warrant with an aggregate Fair Market Value as
of the last Business Day prior to such exercise equal to a purchase price for such Common Shares that would otherwise be payable by the
undersigned upon such exercise based upon the Exercise Price then in effect (a “Cashless Exercise”), or

 

______[check
if applicable] By) by payment in full of the Exercise Price then in effect for the shares of Warrant Shares as to which this Warrant
is submitted for exercise, payable in cash or other same-day funds.

 

The
undersigned requests that said Warrant Shares be registered in such names and delivered, all as specified in accordance with the instructions
set forth below.

 

If
said number of Warrant Shares is less than all of the shares of Warrant Shares purchasable hereunder, the undersigned requests that a
new Warrant Certificate representing the remaining balance of the Warrants evidenced hereby be issued and delivered to the undersigned
unless otherwise specified in the instructions below.

 

    A-1

     

    

  

	Dated:	 	 	Name:	
	 	 	 	(Please Print)
	 	 	 
	(Insert Social Security or Other Identifying
Number of Holder)	 	 
	 	 	 
	 	 	Address:	 
	 	 	 
	 	 	 
	 	 	 
	 	 	Signature (Signature
must conform in all respects to name of holder as specified on the face of the Warrant Certificate and must be guaranteed by a bank,
stockbroker, savings and loan association or credit union meeting the requirements of the Warrant Holder.

  

    A-2

     

    

 

EXHIBIT
B

 

FORM OF ASSIGNMENT

 

FOR
VALUE RECEIVED the undersigned registered holder of the within Warrant Certificate hereby sells, assigns, and transfers unto the Assignee(s)
named below all of the right of the undersigned under the within Warrant Certificate, with respect to the number of Warrants set forth
below:

 

	 

    Names
    of Assignees
	 	Address	 	Social
    Security or 

other Identifying

 Number of

 Assignee(s)	 	Number
    of Shares

 Represented by the

 Portion of this

 Warrant to be

 Assigned
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

And
does hereby irrevocably constitute and appoint ______ the undersigned's attorney to make such transfer on the books of _____________
maintained for that purpose, with full power of substitution in he premises.

 

	 

    Date: 
	 	 	 
	 	 
	 	(Signature
    of Owner)
	 	 
	 	 
	 	(Street
    Address)
	 	 
	 	 
	 	(City)(State)(Zip
    Code)
	 	 
	 	 
	 	Signature
    Guaranteed By:
	 
	 	 

 

		*	The
signature must correspond with the name as written upon the face of the within Warrant Certificate in every particular, without alteration
or enlargement or any change whatever, and must be guaranteed by a financial institution satisfactory to the Company.

 

 

 

 

B-1Exhibit 10.2

 

 

 

	HOLLYWEED NORTH CANNABIS INC.

     

    STOCK OPTION PLAN

     

    MAY 27, 2019

 

 

 

     

     

    

 

TABLE OF CONTENTS

 

			Page(s)
	ARTICLE 1. DEFINITIONS AND INTERPRETATION	1
	 	 
	1.1	Definitions.	1
	1.2	Choice of Law.	5
	1.3	Headings	5
	 	 	 
	ARTICLE 2. PURPOSE AND PARTICIPATION	5
	 	 
	2.1	Purpose	5
	2.2	Participation	5
	2.3	Notification of Award	6
	2.4	Copy of Plan	6
	2.5	Limitation	6
	 	 	 
	ARTICLE 3. TERMS AND CONDITIONS OF OPTIONS	6
	 	 
	3.1	Board to Issue Shares	6
	3.2	Number of Shares	6
	3.3	Term of Option	6
	3.4	Termination	7
	3.5	Exercise Price	10
	3.6	Additional Terms	11
	3.7	Assignment of Options.	11
	3.8	Adjustments	11
	3.9	Vesting	12
	 	 	 
	ARTICLE 4. EXERCISE OF OPTION	12
	 	 
	4.1	Exercise of Option	12
	4.2	Issue of Share Certificates	13
	4.3	Condition of Issue	13
	4.4	Applicable Taxes	13
	4.5	Additional Agreements	13
	 	 	 
	ARTICLE 5. ADMINISTRATION	14
	 	 
	5.1	Administration	14
	5.2	Interpretation	14
	 	 	 
	ARTICLE 6. AMENDMENT, TERMINATION AND NOTICE	14
	 	 
	6.1	Prospective Amendment	14
	6.2	Retrospective Amendment	14
	6.3	Amendment to Option	14
	6.4	Approvals	15
	6.5	Termination	15
	6.6	Agreement	15
	6.7	Notice	15

 

    i

     

    

 

STOCK OPTION PLAN

 

ARTICLE
1.

DEFINITIONS AND INTERPRETATION

 

		1.1	Definitions.

 

As used herein, unless there is something
in the subject matter or context inconsistent therewith, the following terms will have the meanings set forth below:

 

		(a)	“Administrator” means such committee, director, senior officer or employee of the Corporation
as may be designated as Administrator by the Board from time to time.

 

		(b)	“Award Date” means the date on which the Board awards a particular Option.

 

		(c)	“Board” means the board of directors of the Corporation, or any committee thereof to
which the board of directors of the Corporation has delegated the power to administer and grant Options under the Plan.

 

		(d)	“Cause” means:

 

		(i)	in the case of an Employee (1) cause as such term is defined in the written employment agreement with
the Employee or if there is no written employment agreement or cause is not defined therein, the usual meaning of just cause under the
common law or the laws of the jurisdiction in which the Employee is employed; (2) that is employed in an “at will” jurisdiction,
the usual meaning of just cause under the common law of the Province of British Columbia; or (2) the termination of employment as a result
of an order made by any Regulatory Authority having jurisdiction to so order;

 

		(ii)	in the case of a Consultant (1) the occurrence of any event which, under the written consulting contract
with the Consultant or the common law or the laws of the jurisdiction in which the Consultant provides services, gives the Corporation
or a Subsidiary the right to immediately terminate the consulting contract; or (2) the termination of the consulting contract as a result
of an order made by any Regulatory Authority having jurisdiction to so order;

 

		(iii)	in the case of a Director, ceasing to be a Director as a result of (1) ceasing to be qualified to act
as a Director pursuant to the section 124 of the Business Corporations Act (British Columbia) (the “BCBCA”);
(2) a resolution having been passed by the shareholders pursuant to section 128(3)(a) of the BCBCA, or (3) an order made by any Regulatory
Authority having jurisdiction to so order; or

 

		(iv)	in the case of an Officer who is not an Employee, ceasing to be an Officer as a result of an order made
by any Regulatory Authority having jurisdiction to so order.

 

     

     

    

 

		(e)	“Common Shares” means class B common shares in the capital of the Corporation.

 

		(f)	“Consultant” means a person, other than an employee, director or officer of the Corporation
or a Subsidiary or a registrant under the Securities Act (British Columbia), that:

 

		(i)	is engaged to provide on an ongoing bona fide basis, consulting, technical, management, advisory or other
services to the Corporation or a Subsidiary, other than services provided in relation to a distribution;

 

		(ii)	provides the services under a written contract between the Corporation or a Subsidiary and such person;

 

		(iii)	in the reasonable opinion of the Board, spends or will spend a significant amount of time and attention
on the affairs and business of the Corporation or a Subsidiary; and

 

		(iv)	has a relationship with the Corporation or a Subsidiary that enables such person to be knowledgeable about
the business and affairs of the Corporation.

 

		(g)	“Corporation” means Hollyweed North Cannabis Inc.

 

		(h)	“Director” has the meaning given to that term in the Securities Act (British
Columbia), and for the purposes of the Plan includes directors of the Corporation and any Subsidiary.

 

		(i)	“Eligible Persons” means Directors, Officers, Employees and Consultants.

 

		(j)	“Employee” means any individual regularly employed, personally or through an issuer
all the voting securities of which are beneficially owned by one or more Employees, by the Corporation or a Subsidiary.

 

		(k)	“Equity Securities” means:

 

		(i)	Shares or any other security of the Corporation that carries the residual right to participate in the
earnings of the Corporation and, on liquidation, dissolution or winding-up, in the assets of the Corporation, whether or not the security
carries voting rights;

 

		(ii)	any warrants, options or rights entitling the holders thereof to purchase or acquire any such securities;
or

 

		(iii)	any securities issued by the Corporation which are convertible or exchangeable into such securities.

 

    2 

     

    

 

		(l)	“Exercise Notice” means the notice respecting the exercise of an Option, in the form
set out as Schedule “B” hereto, duly executed by the Option Holder.

 

		(m)	“Exercise Period” means the period during which a particular Option may be exercised
and is the period from and including the Award Date through to and including the Expiry Date.

 

		(n)	“Exercise Price” means the price at which an Option may be exercised as determined
in accordance with paragraph 3.5.

 

		(o)	“Expiry Date” means the date determined in accordance with paragraph 3.4 and after
which a particular Option cannot be exercised.

 

		(p)	“Fixed Expiry Date” has the meaning given to that term under paragraph 3.4.

 

		(q)	“Fully Diluted Basis” at any time means that all vested options, warrants or other
rights of any kind to acquire Common Shares and all securities of the Corporation which are convertible, exercisable or exchangeable into
Common Shares (directly or indirectly through exchange into Shares which are themselves convertible into Common Shares) which are outstanding
at that time shall be deemed to have been fully exercised, converted or exchanged, as the case may be, and the Common Shares issuable
as a result thereof shall be deemed to have been fully issued and to form part of the holdings of the person(s) entitled to receive such
shares.

 

		(r)	“IPO” means the offering and sale to the public of securities of the Corporation in
connection with which any securities of the Corporation are listed or quoted on an organized trading facility including by way of a reverse
takeover of an existing listed entity.

 

		(s)	“Market Value” means the market value of the Corporation’s Shares, as determined
in accordance with paragraph 3.5.

 

		(t)	“Offeror” means the person or persons making a Third Party Offer.

 

		(u)	“Officer” means a senior officer as such term is defined in the Securities Act (British
Columbia), and for the purposes of the Plan includes senior officers of the Corporation and any Subsidiary.

 

		(v)	“Option” means an option to acquire Common Shares awarded to an Eligible Person pursuant
to the Plan; provided that the Optionee has executed and delivered to the Corporation an agreement to be bound by the terms of the Option.

 

		(w)	“Option Certificate” means the certificate, in the form set out as Schedule “A”
hereto, evidencing an Option.

 

		(x)	“Option Holder” means a person who holds an unexercised and unexpired Option or, where
applicable, the Personal Representative of such person.

 

    3 

     

    

 

		(y)	“Personal Representative” means:

 

		(i)	in the case of a deceased Option Holder, the executor or administrator of the deceased duly appointed
by a court or public authority having jurisdiction to do so; and

 

		(ii)	in the case of an Option Holder who for any reason is unable to manage his or her affairs, the person
entitled by law to act on behalf of such Option Holder.

 

		(z)	“Plan” means this stock option plan.

 

		(aa)	“Regulatory Authorities” means all stock exchanges, inter-dealer quotation networks
and other organized trading facilities on which the Corporation’s Shares are listed, if any, and all securities commissions or similar
securities regulatory bodies having jurisdiction over the Corporation.

 

		(bb)	“Share” or “Shares” means, as the case may be, Common Shares and
any one or more shares of any other class in the share capital of the Corporation as the Board may designate from time to time.

 

		(cc)	“Subsidiary” means a subsidiary of the Corporation.

 

		(dd)	“Termination Date” means:

 

		(i)	in the case of the Option Holder’s resignation from employment or the termination of the Option
Holder’s consulting contract by the Option Holder, the date that the Option Holder provides notice of such resignation or termination
to the Corporation or any Subsidiary; or

 

		(ii)	in the case of the termination of the Option Holder’s employment or consulting contract by the Corporation
or any Subsidiary for any reason (whether such termination is lawful or unlawful) other than death, the date that the Corporation or any
Subsidiary delivers written notice of such lawful or unlawful termination of the Option Holder’s employment or consulting contract
to the Option Holder; or

 

		(iii)	in the case of the expiry of a fixed-term employment agreement or consulting contract that is not renewed
or extended, the last day of the term.

 

		(ee)	“Third Party Offer” means a bona-fide offer to purchase all of the Equity Securities
of the Company, which offer shareholders holding not less than 50% of all Shares of the Company (calculated on a Fully Diluted Basis,
provided that for the purposes of this definition, the term Fully Diluted Basis shall not include any Equity Securities which, if exercised,
converted or exchanged, would put the holder thereof in a worse economic position given the purchase price payable by the Offeror) of
the Company have agreed to accept.

 

    4 

     

    

 

		(ff)	“Triggering Event” means:

 

		(i)	A Third Party Offer; or

 

		(ii)	any amalgamation, arrangement, merger or other consolidation after which the voting securities of the
Corporation outstanding immediately prior thereto represent (either by remaining outstanding or by being converted into voting securities
of the surviving or acquiring entity) less than 50% of the combined voting power of the voting securities of the Corporation or such surviving
or acquiring entity outstanding immediately after such event; or

 

		(iii)	any other sale of the business of the Corporation, as determined by the Board.

 

		1.2	Choice of Law.

 

The Plan is established under, and the
provisions of the Plan will be subject to and interpreted and construed in accordance with, the laws of the Province of British Columbia.

 

		1.3	Headings

 

The headings used herein are for convenience
only and are not to affect the interpretation of the Plan.

 

ARTICLE
2.

PURPOSE AND PARTICIPATION

 

		2.1	Purpose

 

The purpose of the Plan is to provide
the Corporation with a share-related mechanism to attract, retain and motivate qualified Directors, Employees, Officers and Consultants,
to reward such of those Directors, Employees, Officers and Consultants as may be awarded Options under the Plan by the Board from time
to time for their contributions toward the long term goals of the Corporation and to enable and encourage such Directors, Employees, Officers
and Consultants to acquire shares in the capital of the Corporation as long term investments.

 

		2.2	Participation

 

The Board will, from time to time and
in its sole discretion, determine which of the Eligible Persons, if any, will be awarded Options. The Board shall, in its discretion determine
whether each such Eligible Person shall be awarded an Option to purchase Common Shares. The Board may, in its sole discretion, grant the
majority of the Options to insiders of the Corporation.

 

    5 

     

    

 

		2.3	Notification of Award

 

Following the approval by the Board
of the awarding of an Option, the Administrator will notify the Option Holder in writing of the award and will enclose with such notice
the Option Certificate representing the Option so awarded.

 

		2.4	Copy of Plan

 

Each Option Holder, concurrently with
the notice of the award of the Option, will be provided with a copy of the Plan. A copy of any amendment to the Plan will be promptly
provided by the Administrator to each Option Holder.

 

		2.5	Limitation

 

The Plan does not give any Option Holder
that is a Director or Officer the right to serve or continue to serve as a Director or Officer of the Corporation or any Subsidiary nor
does it give any Option Holder that is an Employee or Consultant the right to be or to continue to be employed with or have a consulting
contract with the Corporation or any Subsidiary.

 

ARTICLE
3.

TERMS AND CONDITIONS OF OPTIONS

 

		3.1	Board to Issue Shares

 

The Shares to be issued to Option Holders
upon the exercise of Options will be authorized as unissued Common Shares, the issuance of which will have been authorized by the Board.

 

		3.2	Number of Shares

 

Subject to the Plan and Allocation Subject
to adjustment as provided for in paragraph 3.8 of the Plan, the aggregate number of unissued Common Shares that will be available for
Eligible Persons to acquire pursuant to Options granted under the Plan will equal, at any given time, 10% of the then issued and outstanding
common shares of the Corporation, on a rolling basis. If any Option is exercised, expires or otherwise terminates for any reason, the
number of Common Shares in respect of such Option will again be available for the purposes of the Plan.

 

The portion of the Options granted under
the Plan that will be available for grant to Directors is limited to 10% of the Options under the Plan available for grant at any given
time.

 

		3.3	Term of Option

 

Subject to such other terms or conditions
that may be attached to an Option granted hereunder, an Option Holder may exercise any vested portion or portions of an Option in whole
or in part at any time or from time to time during the Exercise Period. Any Option or part thereof not exercised within the Exercise Period
will terminate and become null, void and of no effect as of 5:00 p.m. local time in Vancouver, British Columbia on the Expiry Date.

 

    6 

     

    

 

		3.4	Termination

 

Subject to subparagraphs (a) to (f)
below, the Expiry Date of an Option will be the date fixed by the Board at the time the particular Option is awarded (the “Fixed
Expiry Date”), provided that the Expiry Date will be no later than the fifth anniversary of the Award Date of such Option:

 

		(a)	Death 

 

In the event that the Option Holder should
die while his or her Option is outstanding, the Expiry Date for any vested portion or portions of the Option will be the earlier of the
Fixed Expiry Date and the date that is one year after the date of the Option Holder’s death. The Expiry Date for any unvested portion
of the Option will be the date of the Option Holder’s death.

 

		(b)	Ceasing to be a Director

 

If the Option Holder holds an Option as
a Director and the Option Holder ceases to be a Director (other than by reason of death), the Expiry Date for any vested portion or portions
of the Option will be, unless otherwise provided for in the Option Certificate, the Fixed Expiry Date unless the Option Holder ceases
to be a Director for Cause, in which case the Expiry Date will be the date that the Option Holder ceases to be a Director. The Expiry
Date for any unvested portion of the Option will be the date that the Option Holder ceases to be a Director.

 

		(c)	Ceasing to be an Employee or Consultant

 

If the Option Holder holds an Option as
an Employee or Consultant and the Option Holder ceases to be an Employee or Consultant (other than by reason of death), the Expiry Date
for any vested portion or portions of the Option will be, unless otherwise provided for in the Option Certificate, the earlier of the
Fixed Expiry Date and the 90th day following the Termination Date unless the Option Holder ceases to be an Employee or Consultant
as a result of Cause, in which case the Expiry Date will be the Termination Date. The Expiry Date for any unvested portion of the Option
will be the Termination Date. For greater certainty, if the Corporation or a Subsidiary gives an Employee or Consultant working notice
of termination of employment or the consulting contract or payment in lieu of notice, no further vesting will occur during (i) the working
notice period; or (ii) the deemed notice period for which the Employee or Consultant is receiving payment in lieu of notice.

 

		(d)	Ceasing to be an Officer

 

If the Option Holder holds an Option as
an Officer and the Option Holder ceases to be an Officer (other than by reason of death), the Expiry Date for any vested portion or portions
of the Option will be, unless otherwise provided for in the Option Certificate, the earlier of the Fixed Expiry Date and the 90th
day following the date that the Option Holder ceases to be an Officer unless the Option Holder ceases to be an Officer for Cause, in which
case the Expiry Date will be the date that the Option Holder ceases to be an Officer. The Expiry Date for any unvested portion of the
Option will be the date that the Option Holder ceases to be an Officer.

 

    7 

     

    

 

		(e)	Initial Public Offering

 

In the event the Corporation undertakes
an Initial Public Offering, the Board, the Regulatory Authorities, the stock exchange, the agents or the underwriters may, prior to completion
of the IPO, require that some or all of the Options be cancelled, re-priced upwards or otherwise revised, in which case the Board may,
in its sole discretion, deal with the Options in the manner it deems fair and reasonable. Without limiting the generality of the foregoing,
the Board may, without any action or consent required on the part of any Option Holder:

 

		(i)	deliver a notice to the Option Holder advising the Option Holder that the unvested portion of the Option
held by the Option Holder, if any, will immediately vest;

 

		(ii)	deliver a notice to the Option Holder advising the Option Holder that the Option Holder will have 14 days
following the date of the notice to exercise any vested portion or portions of the Option held by the Option Holder, failing which the
vested portion or portions of the Option will be deemed to have been exercised in full without any payment by the Option Holder and, in
such case, the Option Holder will be entitled to receive the number of Common Shares, as applicable, of the Corporation as is determined
by the following formula:

 

(X – Y) x Z

X

 

where X equals the price at which the
Corporation proposes to offer the Common Shares to the public by way of its IPO, Y equals the Exercise Price of the Option and Z equals
the number of Common Shares, issuable upon the exercise of the vested portion or portions of the Option Holder’s Option. The Expiry
Date of any unvested portion of the Option Holder’s Option will be the date of the notice. Any fractional amounts resulting from
the above calculation will be rounded up to the nearest whole number of Common Shares, as applicable; or

 

		(iii)	take such other actions, and combinations of the foregoing actions, as it deems fair and reasonable under
the circumstances.

 

If the Corporation proceeds to list its
Common Shares on a public stock exchange or commences an IPO, each Option Holder will promptly enter into all such escrow, pooling or
other agreements as are required by the Regulatory Authorities, the stock exchange, the agents or the underwriters in connection with
such listing or IPO. In the event that the Corporation does not complete the IPO, the Corporation will, to the extent reasonably practicable,
grant to the Option Holder an Option equivalent (including the original vesting terms, if any) to the Option cancelled or exercised, provided
that in the case of an Option that was exercised or deemed to be exercised, the Option Holder surrenders for cancellation the Common Shares,
as applicable, acquired upon the exercise or deemed exercise of the Option.

 

    8 

     

    

 

		(f)	Triggering Event

 

In the event of a Triggering Event, the
Board may, in its sole discretion, deal with outstanding Options in the manner it deems fair and reasonable in light of the circumstances
of the Triggering Event. Without limiting the generality of the foregoing, the Board may, without any action or consent required on the
part of any Option Holder:

 

		(i)	deliver a notice to the Option Holder advising the Option Holder that the unvested portion of the Option
held by the Option Holder, if any, will immediately vest;

 

		(ii)	deliver a notice to an Option Holder advising the Option Holder that the Expiry Date for any vested portion
or portions of the Option will be the earlier of the Fixed Expiry Date and the 5th day following the date of the notice and
the Expiry Date for any unvested portion of the Option will be the date of the notice;

 

		(iii)	send a notice to an Option Holder advising the Option Holder that the Option is, in connection with any
Third Party Offer, either to be assumed by an Offeror or parent thereof or to be replaced with a comparable stock option to purchase shares
in the capital of the Offeror or parent thereof. In the event the Option is assumed or replaced by the Offeror or parent thereof, the
terms and conditions of the Option may be subject to adjustment, and the notice will specify any adjustment to the terms and conditions
of the Option including, without limitation, the number and class of shares that may be purchased, the exercise price and the vesting
terms;

 

		(iv)	provided that the price per Common Share being offered by the Offeror is greater than the Exercise Price,
deem an Option to have been exercised in full and the Common Shares, as applicable, to have been tendered pursuant to any Third Party
Offer and apply a portion of the Option Holder’s proceeds from the closing under the Triggering Event to the Exercise Price payable
by the Option Holder;

 

		(v)	deem an Option to have been exercised in full without any payment by the Option Holder and, in such case,
the Option Holder will be entitled to receive the number of Common Shares of the Corporation as is determined by the following formula:

 

(X – Y) x Z

X

 

where X equals the purchase price for
a Common Share under the Third Party Offer, Y equals the Exercise Price of the Option and Z equals the number of Common Shares, with respect
to which the Option is being exercised;

 

    9 

     

    

 

		(vi)	cancel an Option and pay to the Option Holder the amount that the Option Holder would have received under
the Triggering Event, after deducting the Exercise Price of the Option, had the Option been exercised in full;

 

		(vii)	where consideration received for the Common Shares is other than cash, deem an Option to be amended to
provide that on exercise of such Option the Option Holder shall be entitled to receive such consideration that the Option Holder would
have received had such Option Holder exercised such Option immediately prior to the Triggering Event; or

 

		(viii)	take such other actions, and combinations of the foregoing actions, as it deems fair and reasonable under
the circumstances.

 

The Corporation may also require the
Option Holder to sell all of the Common Shares acquired by the Option Holder upon the exercise of an Option under the Triggering Event.
If the transaction contemplated by the Triggering Event does not close, the Corporation will, upon the request of an Option Holder to
the extent permitted by applicable laws, grant to the Option Holder an Option equivalent (including original vesting terms, if any) to
the Option cancelled or exercised, provided that in the case of an Option which was exercised, the Option Holder surrenders for cancellation
the Common Shares purchased upon the exercise of the Option.

 

		3.5	Exercise Price

 

The price at which an Option Holder
may purchase a Common Share upon the exercise of an Option will be as set forth in the Option Certificate issued in respect of such Option
and, unless otherwise determined by the Board, will not be less than the Market Value of the Common Shares as of the Award Date. The Market
Value of the Common Shares for a particular Award Date will be determined as follows:

 

		(a)	for each organized trading facility on which the Common Shares are listed, if any, Market Value will be
the closing trading price of the Common Shares on the last trading day immediately preceding the Award Date;

 

		(b)	if the Common Shares are listed on more than one organized trading facility, then Market Value will be
the greatest of the Market Values determined for each organized trading facility on which those Common Shares are listed as determined
for each organized trading facility in accordance with subparagraph (a) above;

 

		(c)	if the Common Shares are listed on one or more organized trading facility but have not traded during the
ten trading day period immediately preceding the Award Date, then the Market Value will be, subject to the necessary approvals of the
applicable Regulatory Authorities, such value as is determined by resolution of the Board; and

 

		(d)	if the Common Shares are not listed on any organized trading facility, then the Market Value will be,
subject to the necessary approvals of the applicable Regulatory Authorities, such value as is determined by the Board.

 

Notwithstanding anything else contained
herein, in no case will the Market Value be less than the minimum prescribed by each of the organized trading facilities as would apply
to the Award Date in question.

 

    10 

     

    

 

		3.6	Additional Terms

 

Subject to all applicable securities
laws and regulations and the rules and policies of all applicable Regulatory Authorities, the Board may attach other terms and conditions
to the grant of a particular Option, such terms and conditions to be referred to in a schedule attached to the Option Certificate. These
terms and conditions may include, but are not necessarily limited to, providing that a portion or portions of an Option expire after certain
periods of time or upon the occurrence of certain events, other than as provided for herein, provided that no Option will expire more
than 5 years after the Award Date.

 

		3.7	Assignment of Options.

 

Options may not be assigned or transferred,
provided however that the Personal Representative of an Option Holder may, to the extent permitted by paragraph 4.1, exercise the Option
within the Exercise Period.

 

		3.8	Adjustments

 

If:

 

		(a)	the Common Shares are changed into or exchanged for a different number or kind of Shares of the Corporation
or securities of another corporation, whether through an arrangement, amalgamation or other similar procedure or otherwise, or a share
recapitalization, subdivision or consolidation;

 

		(b)	a dividend is paid in Shares, other than in lieu of dividends paid in the ordinary course; or

 

		(c)	there is any other change that the Board, in its sole discretion, determines equitably requires an adjustment
to be made,

 

then, subject to any required action
by any of the shareholders of the Corporation, any term that the Board determines requires adjustment (including the number of Common
Shares subject to each outstanding Option and the aggregate number of Common Shares that have been authorized for issuance under the Plan,
but as to which no Options have yet been granted or that have again become available for the purposes of the Plan, the Exercise Price
of each outstanding Option, as well as any other terms that the Board determines require adjustment) will be adjusted by the Board in
the manner the Board deems appropriate and its determination will be final, binding and conclusive. Except as the Board determines, no
issuance by the Corporation of Shares of any class, or securities convertible into Shares of any class, will affect, and no adjustment
by reason thereof will be made with respect to, the number or Exercise Price of the Common Shares subject to an Option. No fractional
shares will be issued upon the exercise of an Option and accordingly, if as a result of the adjustment, an Option Holder would become
entitled to a fractional Common Share, the Option Holder will have the right to purchase only the next lowest whole number of Common Shares,
as applicable, and no payment or other adjustment will be made with respect to the fractional interest so disregarded.

 

    11 

     

    

 

		3.9	Vesting

 

The Board may, in its sole discretion,
attach a term or condition to a particular Option providing that the Option will vest over a certain period of time or upon the occurrence
of certain events. The Board may also, in its sole discretion, attach a term or condition to a particular Option providing that the Option
will be exercisable immediately, in full, notwithstanding that it has vesting provisions, upon the occurrence of certain events. Unless
otherwise determined by the Board, in its sole discretion, all Options will vest over 3 years (the “Vesting Period”) subject
to the following additional terms and conditions:

 

		(a)	the Options will vest in a linear fashion quarterly (every 3 months) over the Vesting Period, provided
the Option Holder continues to hold a position with, or be engaged by, the Corporation. The number of Options vesting daily will equal
the total number of Options granted divided by the total number of days comprising the Vesting Period;

 

		(b)	new option grants will be determined by the Board once per month or following the regular recurring Board
meeting schedule (but not less than quarterly) and option grants will not necessarily be retroactive to the hire date of Option Holder;
and

 

		(c)	no Options will vest until the Option Holder has completed his or her probation period, if applicable.

 

ARTICLE
4.

EXERCISE OF OPTION

 

		4.1	Exercise of Option

 

An Option may be exercised only by the
Option Holder or the Personal Representative of the Option Holder. Unless otherwise provided in an Option Holder’s Option Certificate,
an Option Holder or the Personal Representative of the Option Holder may exercise the vested portion or portions of an Option in whole
or in part at any time or from time to time during the Exercise Period up to 5:00 p.m. local time in Vancouver, British Columbia on the
Expiry Date by delivering to the Administrator an Exercise Notice, the applicable Option Certificate and a certified cheque or bank draft
payable to the Corporation in an amount equal to the aggregate Exercise Price of the Common Shares, as applicable, to be purchased pursuant
to the exercise of the Option. The Common Shares issuable upon exercise of an Option shall be deemed to be issued on the date the Option
Holder or the Personal Representative of the Option Holder delivers to the Corporation the Exercise Notice, Option Certificate and payment
as contemplated in this Section.

 

    12 

     

    

 

		4.2	Issue of Share Certificates

 

As soon as practicable following the
receipt of the Exercise Notice, the Administrator will cause to be delivered to the Option Holder a certificate for the Common Shares,
as applicable, purchased by the Option Holder. If the number of Common Shares, as applicable, in respect of which the Option was exercised
is less than the number of Common Shares, as applicable, subject to the Option Certificate surrendered, the Administrator will forward
a new Option Certificate to the Option Holder concurrently with delivery of the share certificate for the balance of the Common Shares,
as applicable, available under the Option. The Corporation may elect to retain the original share certificates in the minute book of the
Corporation and provide the Option Holder with a copy.

 

		4.3	Condition of Issue

 

The Options and the issue of Common
Shares, as applicable, by the Corporation pursuant to the exercise of Options are subject to the terms and conditions of the Plan and
compliance with the rules and policies of all applicable Regulatory Authorities with respect to the granting of such Options and the issuance
and distribution of such Common Shares, as applicable, and to all applicable securities laws and regulations. The Option Holder agrees
to comply with all such laws, regulations, rules and policies and agrees to furnish to the Corporation any information, reports or undertakings
required to comply with, and to fully cooperate with, the Corporation in complying with such laws, regulations, rules and policies.

 

		4.4	Applicable Taxes

 

As a condition of an issuance of Common
Shares upon the exercise of an Option, the Option Holder shall pay (or make such other arrangements as may be acceptable to the Board)
the Corporation for any and all taxes to be paid or that may be required to be paid by the Corporation under applicable law in connection
with a taxable benefit the Option Holder will have as a result of exercising such Option or as otherwise may be required by applicable
law.

 

		4.5	Additional Agreements

 

If the Corporation is subject to a shareholders’
agreement, and if required by the Board, in its sole discretion, then, as a condition of an issuance of Common Shares upon exercise of
an Option, the Option Holder shall agree to be bound to such shareholders’ agreement. If required by the Board, in its sole discretion,
the Option Holder shall, as a condition of an issuance of Common Shares upon exercise of an Option, enter into any voting trust agreement
or execute a power of attorney in favour of the President or Secretary of the Corporation and for such person to vote any Shares issued
upon exercise of an Option whether such vote is represented in a written resolution of shareholders or at a meeting of the shareholders
of the Corporation.

 

    13 

     

    

 

ARTICLE
5.

ADMINISTRATION

 

		5.1	Administration

 

The Plan will be administered by the
Administrator on the instructions of the Board. The Board may make, amend and repeal at any time and from time to time such regulations
not inconsistent with the Plan as it may deem necessary or advisable for the proper administration and operation of the Plan and such
regulations will form part of the Plan. The Board may delegate to the Administrator such administrative duties and powers as it may see
fit.

 

		5.2	Interpretation

 

The interpretation by the Board of any
of the provisions of the Plan and any determination by it pursuant thereto will be final and conclusive and will not be subject to any
dispute by any Option Holder. No member of the Board or any person acting pursuant to authority delegated by it hereunder will be liable
for any action or determination in connection with the Plan made or taken in good faith and each member of the Board and each such person
will be entitled to indemnification with respect to any such action or determination in the manner provided for by the Corporation.

 

ARTICLE
6.

AMENDMENT, TERMINATION AND NOTICE

 

		6.1	Prospective Amendment

 

The Board may from time to time amend
the Plan and the terms and conditions of any Option thereafter to be granted and, without limiting the generality of the foregoing, may
make such amendment for the purpose of meeting any changes in any relevant law, rule or regulation applicable to the Plan, any Option,
the Shares, or for any other purpose which may be permitted by all relevant laws, regulations, rules and policies provided always that
any such amendment will not alter the terms or conditions of any Option or impair any right of any Option Holder pursuant to any Option
awarded prior to such amendment.

 

		6.2	Retrospective Amendment

 

The Board may from time to time retrospectively
amend the Plan and, with the consent of the affected Option Holders, retrospectively amend the terms and conditions of any Options that
have been previously granted.

 

		6.3	Amendment to Option

 

Notwithstanding anything else contained
in the Plan and subject to any necessary approval from the Option Holder, the Corporation’s shareholders and the Regulatory Authorities,
if any, the Board may in its discretion (a) extend the Expiry Date of any Option, provided that in no case will an Option expire more
than 5 years after the Award Date; (b) alter or change the vesting terms applicable to an Option, including accelerating the vesting schedule
to make the Option exercisable immediately, in full; (c) lower the Exercise Price; or (d) amend any other term of an outstanding Option.

 

    14 

     

    

 

		6.4	Approvals

 

The Plan and any amendments hereto are
subject to all necessary approvals of the applicable Regulatory Authorities and the shareholders, if any.

 

		6.5	Termination

 

The Board may terminate the Plan at
any time provided that such termination will not alter the terms or conditions of any Option or impair any right of any Option Holder
pursuant to any Option awarded prior to the date of such termination, which will continue to be governed by the provisions of the Plan.

 

		6.6	Agreement

 

The Corporation and every Option awarded
hereunder will be bound by and subject to the terms and conditions of the Plan. By accepting an Option granted hereunder, the Option Holder
has expressly agreed with the Corporation to be bound by the terms and conditions of the Plan.

 

		6.7	Notice

 

Any notice or other communication contemplated
under the Plan to be given by the Corporation to an Option Holder will be given by the Corporation delivering, faxing or emailing the
notice to the Option Holder at the last address, fax number or email address for the Option Holder in the Corporation’s records.
Any such notice will be deemed to have been given on the date on which it was delivered, or in the case of fax or email, the next business
day after transmission. An Option Holder may, at any time, advise the Corporation of a change in the Option Holder’s address, fax
number or email address.

 

    15 

     

    

 

SCHEDULE “A”

 

HOLLYWEED NORTH CANNABIS INC. 

OPTION CERTIFICATE

 

This Option Certificate is issued pursuant to
the provisions of the Stock Option Plan of Hollyweed North Cannabis Inc (the “Corporation”) dated May 27, 2019 (the “Plan”).

 

Option Holder's Name:

Address:

 

Total Options:

Exercise Price Per Share:

 

Award Date:

Vesting Schedule:

Expiry Date:

 

The vested portion or portions of the Option may
be exercised at any time and from time to time from and including the Award Date through to 5:00 p.m. local time in Vancouver, British
Columbia on the Expiry Date by delivering to the Administrator of the Plan an Exercise Notice, in the form provided in the Plan, together
with this Certificate and a certified cheque or bank draft payable to the Corporation in an amount equal to the aggregate of the Exercise
Price of the Common Shares in respect of which the Option is being exercised.

 

Upon receiving the Exercise Notice, the Administrator
may deliver a shareholders’ agreement, voting trust agreement and/or other agreement to the Option Holder. The Option and the issue
of Shares by the Company pursuant to the exercise of the Option are subject to the Option Holder signing and returning to the Administrator
a copy of such agreement(s), if so required by the Administrator.

 

This Certificate and the Option evidenced hereby
is not assignable, transferable or negotiable and, other than as expressly provided otherwise in this Option Certificate, is subject to
the detailed terms and conditions contained in the Plan, the terms and conditions of which the Option Holder hereby expressly agrees with
the Corporation to be bound by. This Certificate is issued for convenience only and in the case of any dispute with regard to any matter
in respect hereof, the provisions of the Plan and the records of the Corporation shall prevail.

 

The Option is also subject to the terms and conditions
contained in the schedules, if any, attached hereto. All terms not otherwise defined in this Certificate shall have the meanings given
to them under the Plan.

 

The Optionee represents and warrants that he/she
has not been induced to enter this Option Agreement either by the expectation of employment or continued employment with the Corporation
or any subsidiary of the Corporation.

 

THE OPTION HOLDER ACKNOWLEDGES AND AGREES
THAT NOTHING IN THIS CERTIFICATE OR THE PLAN SHALL CONFER UPON THE OPTION HOLDER ANY RIGHT WITH RESPECT TO CONTINUED EMPLOYMENT OR DIRECTORSHIP
OR A CONTINUING CONSULTANT OR SERVICE PROVIDER CONTRACT, NOR SHALL IT INTERFERE WITH THE OPTION HOLDER’S RIGHT OR THE CORPORATION’S
RIGHT TO TERMINATE SUCH EMPLOYMENT, DIRECTORSHIP OR CONTRACT FOR ANY REASON OR NO REASON.

 

Dated this ________ day of ________, 20___.

 

[COMPANY NAME]

 

	Per:	 	 
	 	Administrator, Stock Option Plan	 
	 	 
	By this Option Holder:	 
	 	 
	 	 	 
	Signature	 
	 	 
	Print Name	 

 

    Schedule A-1

     

    

 

SCHEDULE “B”

Hollyweed North Cannabis Inc.

 

NOTICE OF EXERCISE OF OPTION

 

		TO:	The Administrator, Stock Option Plan 

Hollyweed North Cannabis Inc. 

Victoria, B.C.

 

The undersigned hereby irrevocably gives notice,
pursuant to the [company name] stock option plan (the “Plan”), of the exercise of the Option to acquire and hereby subscribes
for (cross out inapplicable item):

 

		(a)	all of the Shares; or

		(b)	________________ of the Shares;

 

which are the subject of the Option Certificate
attached hereto.

 

The undersigned tenders herewith a certified cheque
or bank draft (circle one) payable to “[company name]” in an amount equal to the aggregate Exercise Price of the aforesaid
Shares exercised and directs the Corporation to issue the certificate evidencing said Shares in the name of the undersigned to be mailed
to the undersigned at the following address:

 

________________________________

________________________________

________________________________

 

The undersigned acknowledges that upon receiving
the Exercise Notice, the Administrator may deliver a shareholder’s agreement to the undersigned. The Option and the issue of Shares
by the Corporation pursuant to the exercise of the Option are subject to the undersigned signing and returning to the Administrator a
copy of the shareholders’ agreement, if so required by the Administrator.

 

The Optionee represents and warrants that he/she
has not been induced to enter this Option Agreement either by the expectation of employment or continued employment with the Corporation
or any subsidiary of the Corporation.

 

By executing this Notice of Exercise of Option
the undersigned hereby confirms that the undersigned has read the Plan and agrees to be bound by the provisions of the Plan, including
without limitation paragraph 4.2. All terms not otherwise defined in this Notice of Exercise of Option shall have the meanings given to
them under the Plan.

 

DATED the _________ day of _______________, ________.

 

	 	 
	 	Signature of Option Holder

 

 

Schedule B-1

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