Document:

Exhibit
10.2

 

SECURITIES
PURCHASE AGREEMENT

 

This
SECURITIES PURCHASE AGREEMENT, dated as of March 16, 2020 (the “Agreement”), by and between Slinger Bag Inc., a Nevada
corporation with headquarters located at 709 North Rolling Road, Suite 116, Windsor Mill, Baltimore, MD 21244 (the “Company”),
and MidCity Capital Ltd. with an address at 200-345 Wilson Ave., Toronto, On. Canada M3H5W1 (the “Investor”).

 

WHEREAS:

 

A.
The Company and the Investor are executing and delivering this Agreement in reliance upon the exemption from securities
registration afforded by the rules and regulations as promulgated by the United States Securities and Exchange Commission
(the “SEC”) under the Securities Act of 1933, as amended (the “Securities
Act”);

 

B.
Investor desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement,
a 12% promissory note of the Company, in the form attached hereto as Exhibit A, in the aggregate principal amount
of 500,000 U.S. Dollars and Zero Cents ($500,000.00) (the “Principal Amount” and/or “Purchase Price”)
due and payable on March 16, 2022, together with any note(s) issued in replacement thereof or as a dividend thereon or otherwise
with respect thereto in accordance with the terms thereof (the “Note”), and 500,000 warrants to purchase 500,000
shares of common stock (the “Common Stock”) of the Company at a 40% discount to the market price on the date
of exercise (the “Warrants”), upon the terms and subject to the limitations and conditions set forth in such
Note; and

 

C. The Investor wishes to purchase, upon the terms and conditions stated in this Agreement, the Note.

 

NOW
THEREFORE, the Company and the Investor severally (and not jointly) hereby agree as follows:

 

1.
Purchase and Sale of Note and Warrants.

 

2.
Purchase of Note and Warrants. On the Closing Date (as defined below), the Company shall issue and sell to the Investor
and the Investor agrees to purchase from the Company the Note and the Warrants.

 

a. Form of Payment. On the Closing Date (as defined below), (i) the Investor shall pay the Purchase Price for the Note
and Warrants to be issued and sold to it at the Closing (as defined below) by wire transfer of immediately available funds to
the Company, in accordance with the Company’s written wiring instructions, against delivery of the Note in the Principal
Amount and Warrants, and (ii) the Company shall deliver such duly executed Note and Warrants on behalf of the Company, to the
Investor, against delivery of such Purchase Price.

 

    	Company Initials __	 	 

    	 

    

 

b. Closing Date. The date and time of the first issuance and sale of the Note pursuant to this Agreement (the “Closing
Date”) shall be on or about March 16, 2020, or such other mutually agreed upon time. The closing of the transactions
contemplated by this Agreement (the “Closing”) shall occur on the Closing Date at such location as may be agreed
to by the parties.

 

3.
Investor’s Representations and Warranties. The Investor represents and warrants to the Company that:

 

a. Investment Purpose. As of the date hereof, the Investor is purchasing the Note, the Warrants and the shares of Common
Stock issuable upon exercise of the Warrants (such shares of Common Stock being collectively referred to herein as the “Warrant
Shares” and, collectively with the Note and Warrant, the “Securities”) for its own account and not
with a present view towards the public sale or distribution thereof, except pursuant to sales registered or exempted from registration
under the Securities Act; provided, however, that by making the representations herein, the Investor does not agree
to hold any of the Securities for any minimum or other specific term and reserves the right to dispose of the Securities at any
time in accordance with or pursuant to a registration statement or an exemption under the Securities Act.

 

b. Accredited Investor Status. The Investor is an “accredited investor” as that term is defined under the Securities
Act (an “Accredited Investor”).

 

c. Reliance on Exemptions. The Investor understands that the Securities are being offered and sold to it in reliance upon
specific exemptions from the registration requirements of United States federal and state securities laws and that the Company
is relying upon the truth and accuracy of, and the Investor’s compliance with, the representations, warranties, agreements,
acknowledgments and understandings of the Investor set forth herein in order to determine the availability of such exemptions
and the eligibility of the Investor to acquire the Securities.

 

d. Information. The Investor and its advisors, if any, have been, and for so long as the Note remain outstanding will,
subject to applicable law and regulation, continue to be, furnished with all materials relating to the business, finances and
operations of the Company and materials relating to the offer and sale of the Securities which have been requested by the Investor
or its advisors. The Investor and its advisors, if any, have been, and for so long as the Note remain outstanding will continue
to be, afforded the opportunity to ask questions of the Company. Notwithstanding the foregoing, the Company has not disclosed
to the Investor any material nonpublic information and will not disclose such information unless such information is disclosed
to the public prior to or promptly following such disclosure to the Investor. Neither such inquiries nor any other due diligence
investigation conducted by Investor or any of its advisors or representatives shall modify, amend or affect Investor’s right
to rely on the Company’s representations and warranties contained in Section 3 below. The Investor understands that its
investment in the Securities involves a significant degree of risk. The Investor is not aware of any facts that may constitute
a breach of any of the Company’s representations and warranties made herein.

 

    	Company Initials __	2	 

    	 

    

 

e. Governmental Review. The Investor understands that neither the SEC nor any state securities agency or any other government
or governmental agency has passed upon or made any recommendation or endorsement of the Securities.

 

f. Transfer or Re-sale. The Investor understands that (i) the sale or re-sale of the Securities has not been and is not
being registered under the Securities Act or any applicable state securities laws, and the Securities may not be transferred unless
(a) the Securities are sold pursuant to an effective registration statement under the Securities Act, (b) the Investor shall have
delivered to the Company, at the cost of the Investor, an opinion of counsel that shall be in form, substance and scope customary
for opinions of counsel in comparable transactions to the effect that the Securities to be sold or transferred may be sold or
transferred pursuant to an exemption from such registration, which opinion shall be accepted by the Company, (c) the Securities
are sold or transferred to an “affiliate” (as defined in Rule 144 promulgated under the Securities Act (or a successor
rule) (“Rule 144”)) of the Investor who agrees to sell or otherwise transfer the Securities only in accordance
with this Section 2(f) and who is an Accredited Investor, (d) the Securities are sold pursuant to Rule 144 or other available
exemption from the registration requirements of the Securities Act, or (e) the Securities are sold pursuant to Regulation S under
the Securities Act (or a successor rule) (“Regulation S”), and the Investor shall have delivered to the Company,
at the cost of the Investor, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel
in corporate transactions, which opinion shall be accepted by the Company; (ii) any sale of such Securities made in reliance on
Rule 144 may be made only in accordance with the terms of said Rule and further, if said Rule is not applicable, any re-sale of
such Securities under circumstances in which the seller (or the person through whom the sale is made) may be deemed to be an “underwriter”
(as that term is defined by Section 2(a)(11) of the Securities Act) may require compliance with some other exemption under the
Securities Act or the rules and regulations of the SEC thereunder; and (iii) neither the Company nor any other person is under
any obligation to register such Securities under the Securities Act or any state securities laws or to comply with the terms and
conditions of any exemption thereunder (in each case). Notwithstanding the foregoing or anything else contained herein to the
contrary, the Securities may be pledged as collateral in connection with a bona fide margin account or other lending arrangement.

 

g. Legends. The Investor understands that the Note and, until such time as the Warrant Shares have been registered under
the Securities Act or may be sold pursuant to Rule 144 or Regulation S without any restriction as to the number of securities
as of a particular date that can then be immediately sold, the Warrant Shares shall bear a restrictive legend in substantially
the following form (and a stop-transfer order may be placed against transfer of the certificates for such Securities):

 

    	Company Initials __	3	 

    	 

    

 

“NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

 

The
legend set forth above shall be removed and the Company shall direct its transfer agent to issue a certificate without such legend
to the holder of any Security upon which it is stamped, if, unless otherwise required by applicable state securities laws, (a)
such Security is registered for resale under an effective registration statement filed under the Securities Act or otherwise may
be sold pursuant to Rule 144 or Regulation S without any restriction as to the number of securities as of a particular date that
can then be immediately sold and (b) such holder provides the Company with an opinion of counsel, in form, substance and scope
customary for opinions of counsel in comparable transactions, to the effect that a public resale or transfer of such Security
may be made without registration under the Securities Act, which opinion shall be accepted by the Company so that the sale or
transfer is effected. The Investor agrees to sell all Securities, including those represented by a certificate(s) from which the
legend has been removed, in compliance with applicable prospectus delivery requirements, if any. In the event that the Company
does not accept the opinion of counsel provided by the Investor with respect to the transfer of Securities pursuant to an exemption
from registration, such as Rule 144 or Regulation S, within 2 business days, it will be considered an Event of Default under the
Note. Notwithstanding the foregoing, the Investor acknowledges and agrees that it will be required to agree any opinion of counsel
with the Company’s transfer agent and that so long as the Company does not instruct the transfer agent not to accept the
opinion of counsel, the Company shall not be responsible or liable for any delays caused by the transfer agent.

 

h. Authorization; Enforcement. This Agreement has been duly and validly authorized. This Agreement has been duly executed
and delivered on behalf of the Investor, and this Agreement constitutes a valid and binding agreement of the Investor enforceable
in accordance with its terms.

 

    	Company Initials __	4	 

    	 

    

 

i. Residency. The Investor is a resident of or domiciled in the jurisdiction set forth immediately below the Investor’s
name on the signature pages hereto.

 

4.
Representations and Warranties of the Company. The Company represents and warrants to the Investor that:

 

a. Organization and Qualification. The Company and each of its subsidiaries, if any, is a corporation duly organized, validly
existing and in good standing under the laws of the jurisdiction in which it is incorporated, with full power and authority (corporate
and other) to own, lease, use and operate its properties and to carry on its business as and where now owned, leased, used, operated
and conducted.

 

b. Authorization; Enforcement. (i) The Company has all requisite corporate power and authority to enter into and perform
its obligations under this Agreement, the Note and the Warrants and to consummate the transactions contemplated hereby and thereby
and to issue the Securities, in accordance with the terms hereof and thereof, (ii) the execution and delivery of this Agreement,
the Note by the Company and the consummation by it of the transactions contemplated hereby and thereby (including without limitation,
the issuance of the Note and the issuance of the shares of common stock issuable upon exercise of the Warrants (the “Warrant
Shares”) and the performance of its obligations thereunder have been duly authorized by the Company’s Board of Directors
and no further consent or authorization of the Company, its Board of Directors, or its shareholders is required, (iii) this Agreement
has been duly executed and delivered by the Company by its authorized representative, and such authorized representative is the
true and official representative with authority to sign this Agreement and the other documents executed in connection herewith
and bind the Company accordingly, and (iv) this Agreement constitutes, and upon execution and delivery by the Company of the Note,
each of such instruments will constitute, a legal, valid and binding obligation of the Company enforceable against the Company
in accordance with its terms.

 

c. Issuance of Shares. The Warrant Shares are duly authorized and, upon exercise of the Warrants in accordance with its
respective terms, will be validly issued, fully paid and non-assessable, and free from all taxes, liens, claims and encumbrances
with respect to the issue thereof and shall not be subject to preemptive rights or other similar rights of shareholders of the
Company and will not impose personal liability upon the holder thereof.

 

d. Acknowledgment of Dilution. The Company understands and acknowledges the potentially dilutive effect to the outstanding
Common Stock upon the issuance of the Warrant Shares upon exercise of the Warrants. The Company further acknowledges that its
obligation to issue Warrant Shares upon exercise of the Warrants in accordance with this Agreement, the Note is absolute and unconditional
regardless of the dilutive effect that such issuance may have on the ownership interests of other shareholders of the Company.

 

    	Company Initials __	5	 

    	 

    

 

e. No Conflicts. The execution, delivery and performance of this Agreement, the Note by the Company and the consummation
by the Company of the transactions contemplated hereby and thereby (including, without limitation, the issuance of the Warrant
Shares) will not (i) conflict with or result in a violation of any provision of the Certificate of Incorporation or By-laws, or
(ii) violate or conflict with, or result in a breach of any provision of, or constitute a default (or an event which with notice
or lapse of time or both could become a default) under, or give to others any rights of termination, amendment, acceleration or
cancellation of, any agreement, indenture, patent, patent license or instrument to which the Company or any of its subsidiaries
is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state
securities laws and regulations and regulations of any self-regulatory organizations to which the Company or its securities are
subject) applicable to the Company or any of its subsidiaries or by which any property or asset of the Company or any of its subsidiaries
is bound or affected (except for such conflicts, defaults, terminations, amendments, accelerations, cancellations and violations
as would not, individually or in the aggregate, have a material adverse effect). All consents, authorizations, orders, filings
and registrations which the Company is required to obtain pursuant to the preceding sentence have been obtained or effected on
or prior to the date hereof. The Company is not in violation of the listing requirements of the Over-the-Counter Quotations Bureau
(the “OTC”) and does not reasonably anticipate that the Common Stock will be delisted by the OTC in the foreseeable
future, nor are the Company’s securities “chilled” by DTC. The Company and its subsidiaries are unaware of any
facts or circumstances, which might give rise to any of the foregoing.

 

f. Absence of Litigation. Except as disclosed in the Company’s public filings, there is no action, suit, claim, proceeding,
inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending
or, to the knowledge of the Company or any of its subsidiaries, threatened against or affecting the Company or any of its subsidiaries,
or their officers or directors in their capacity as such, that could have a material adverse effect. Schedule 3(f) contains a
complete list and summary description of any pending or, to the knowledge of the Company, threatened proceeding against or affecting
the Company or any of its subsidiaries, without regard to whether it would have a material adverse effect. The Company and its
subsidiaries are unaware of any facts or circumstances, which might give rise to any of the foregoing. As used herein, “knowledge”
or any other similar knowledge qualification, means the actual or constructive knowledge of any director or officer of the Company,
after due inquiry.

 

g. Acknowledgment Regarding Investor’ Purchase of Securities. The Company acknowledges and agrees that the Investor
is acting solely in the capacity of arm’s length purchasers with respect to this Agreement and the transactions contemplated
hereby. The Company further acknowledges that the Investor is not acting as a financial advisor or fiduciary of the Company (or
in any similar capacity) with respect to this Agreement and the transactions contemplated hereby and any statement made by the
Investor or any of its respective representatives or agents in connection with this Agreement and the transactions contemplated
hereby is not advice or a recommendation and is merely incidental to the Investor’ purchase of the Securities. The Company
further represents to the Investor that the Company’s decision to enter into this Agreement has been based solely on the
independent evaluation of the Company and its representatives.

 

    	Company Initials __	6	 

    	 

    

 

h. No Integrated Offering. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf,
has directly or indirectly made any offers or sales in any security or solicited any offers to buy any security under circumstances
that would require registration under the Securities Act of the issuance of the Securities to the Investor. The issuance of the
Securities to the Investor will not be integrated with any other issuance of the Company’s securities (past, current or
future) for purposes of any shareholder approval provisions applicable to the Company or its securities.

 

i. Title to Property. Except as disclosed in the Company’s public filings, the Company and its subsidiaries have
good and marketable title in fee simple to all real property and good and marketable title to all personal property owned by them
which is material to the business of the Company and its subsidiaries, in each case free and clear of all liens, encumbrances
and defects except such as are described in Schedule 3(i) or such as would not have a material adverse effect. Any real property
and facilities held under lease by the Company and its subsidiaries are held by them under valid, subsisting and enforceable leases
with such exceptions as would not have a material adverse effect.

 

j. Bad Actor. None of the Company, or any its predecessors or any affiliate issuer, any director, executive officer or
other officer of the Company, any beneficial owner (as that term is defined in Rule 13d-3 under the Exchange Act) of 20% or more
of the Company’s outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as that
term is defined in Rule 405 under the Securities Act) connected with the Company in any capacity at the time of sale of any securities
(each, an “Covered Person” and, collectively, “Covered Persons”) is subject to any of the
“Bad Actor” disqualifications described in Rule 506(d)(1)(i) to (viii) under the Securities Act (a “Disqualification
Event”), except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3) under the Securities Act. The Company
has exercised reasonable care to determine (i) the identity of each person that is a Covered Person; and (ii) whether any Covered
Person is subject to a Disqualification Event.

 

k. Breach of Representations and Warranties by the Company. If the Company breaches any of the representations or warranties
set forth in this Section 3, and in addition to any other remedies available to the Investor pursuant to this Agreement, it will
be considered an Event of default under the Note.

 

5. Covenants.

 

a. Expenses. Each
party to this Agreement will bear its own expenses.

 

b. Listing. The
Company shall promptly secure the listing of the Warrant Shares upon each national securities exchange or automated quotation
system, if any, upon which shares of Common Stock are then listed (subject to official notice of issuance) and, so long as the
Investor owns any of the Securities, shall maintain, so long as any other shares of Common Stock shall be so listed, such listing
of all Warrant Shares from time to time issuable upon exercise of the Warrants. The Company will obtain and, so long as the Investor
owns any of the Securities, maintain the listing and trading of its Common Stock on the OTC or any equivalent replacement exchange,
the Nasdaq National Market (“Nasdaq”), the Nasdaq SmallCap Market (“Nasdaq SmallCap”), the
New York Stock Exchange (“NYSE”), or the American Stock Exchange (“AMEX”) and will comply
in all respects with the Company’s reporting, filing and other obligations under the bylaws or rules of the Financial Industry
Regulatory Authority (“FINRA”) and such exchanges, as applicable. The Company shall promptly provide to the
Investor copies of any notices it receives from the OTC and any other exchanges or quotation systems on which the Common Stock
is then listed regarding the continued eligibility of the Common Stock for listing on such exchanges and quotation systems.

 

    	Company Initials __	7	 

    	 

    

 

c. Corporate Existence. So long as the Investor beneficially owns any Note, the Company shall maintain its corporate existence
and shall not sell all or substantially all of the Company’s assets, except in the event of a merger or consolidation or
sale of all or substantially all of the Company’s assets, where the surviving or successor entity in such transaction (i)
assumes the Company’s obligations hereunder and under the agreements and instruments entered into in connection herewith
and (ii) is a publicly traded corporation whose Common Stock is listed for trading on the OTC, Nasdaq, Nasdaq SmallCap, NYSE or
AMEX.

 

d. No Integration.
The Company shall not make any offers or sales of any security (other than the Securities) under circumstances that would require
registration of the Securities being offered or sold hereunder under the Securities Act or cause the offering of the Securities
to be integrated with any other offering of securities by the Company for the purpose of any stockholder approval provision applicable
to the Company or its securities.

 

e. Breach of Covenants.
If the Company breaches any of the covenants set forth in this Section 4, and in addition to any other remedies available to the
Investor pursuant to this Agreement, it will be considered an event of default under the Note.

 

6. Governing Law; Miscellaneous.

 

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

 

    	Company Initials __	8	 

    	 

    

 

b. Counterparts; Signatures
by Facsimile. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all
of which shall constitute one and the same agreement and shall become effective when counterparts have been signed by each party
and delivered to the other party. This Agreement, once executed by a party, may be delivered to the other party hereto by facsimile
transmission of a copy of this Agreement bearing the signature of the party so delivering this Agreement.

 

c. Headings. The
headings of this Agreement are for convenience of reference only and shall not form part of, or affect the interpretation of,
this Agreement.

 

d. Severability.
In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute or rule of law, then
such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform
with such statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any law shall not affect
the validity or enforceability of any other provision hereof.

 

e. Entire Agreement;
Amendments. This Agreement and the instruments referenced herein contain the entire understanding of the parties with respect
to the matters covered herein and therein and, except as specifically set forth herein or therein, neither the Company nor the
Investor makes any representation, warranty, covenant or undertaking with respect to such matters. No provision of this Agreement
may be waived or amended other than by an instrument in writing signed by the majority in interest of the Investor.

 

f. Notices. All
notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return
receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted
by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such party shall have specified
most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall be deemed
effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting facsimile
machine, at the address or number designated below (if delivered on a business day during normal business hours where such notice
is to be received), or the first business day following such delivery (if delivered other than on a business day during normal
business hours where such notice is to be received) or (b) on the second business day following the date of mailing by express
courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur.
The addresses for such communications shall be:

 

    	Company Initials __	9	 

    	 

    

 

If
to the Company, to:

 

Slinger
Bag Inc.

709
North Rolling Road, Suite 116

Windsor
Mill

Baltimore,
MD 21244

 

Attn:
Mike Ballardie, CEO

 

With
a copy to Mark Radom, general counsel, at mark.radom@slingerbag.com.

 

If
to the Investor:

 

MidCity
Capital Ltd.

200-345
Wilson Ave.

Toronto,
On. Canada

M3H5W1

 

Attn:
Willy Tencer

 

Each
party shall provide notice to the other party of any change in address.

 

g. Successors and Assigns.
This Agreement shall be binding upon and inure to the benefit of the parties and their successors and assigns. Neither the Company
nor the Investor shall assign this Agreement or any rights or obligations hereunder without the prior written consent of the other.
Notwithstanding the foregoing, the Investor may assign its rights hereunder to any person that purchases Securities in a private
transaction from the Investor or to any of its “affiliates,” as that term is defined under the 1934 Act, without the
consent of the Company.

 

h. Third Party Beneficiaries.
This Agreement is intended for the benefit of the parties hereto and their respective permitted successors and assigns, and is
not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

i. Survival. The
representations and warranties of the Company and the agreements and covenants set forth in this Agreement shall survive the closing
hereunder notwithstanding any due diligence investigation conducted by or on behalf of the Investor. The Company agrees to indemnify
and hold harmless the Investor and all their officers, directors, employees and agents for direct loss or damage arising as a
direct result of or directly related to any breach or alleged breach by the Company of any of its representations, warranties
and covenants set forth in this Agreement or any of its covenants and obligations under this Agreement, in each case, as proven
in a final, non-appealable decision of a court of competent jurisdiction.

 

    	Company Initials __	10	 

    	 

    

 

j. Further Assurances.
Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver
all such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to carry
out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

k. No Strict Construction.
The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and
no rules of strict construction will be applied against any party.

 

l. Remedies. The
Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Investor by vitiating
the intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the remedy at law for
a breach of its obligations under this Agreement will be inadequate and agrees, in the event of a breach or threatened breach
by the Company of the provisions of this Agreement, that the Investor shall be entitled, in addition to all other available remedies
at law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing
or curing any breach of this Agreement and to enforce specifically the terms and provisions hereof, without the necessity of showing
economic loss and without any bond or other security being required.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	Company Initials __	11	 

    	 

    

 

IN
WITNESS WHEREOF, the undersigned Investor and the Company have caused this Agreement to be duly executed as of the date first
above written.

 

	Company:	SLINGER BAG INC.
	 	 	 
	 	By:	 
	 	Name:
    	Mike
    Ballardie
	 	Title:	Chief
    Executive Officer
	 	 	 
	Investor:	MIDCITY CAPITAL LTD. 
	 	 	 
	 	By:	 
	 	Name:
    	Willy
    Tencer
	 	Title:
    	Authorized
    Signatory

	 

    		12	 

    	 

    

 

EXHIBIT
A

 

[$500,000
12% Promissory Note]

 

    		13Exhibit 10.3

 

WARRANT
AGREEMENT

 

THIS
WARRANT AGREEMENT (this “Agreement”), dated as of this 16th day of March 2020 (the “Effective Date”),
is entered into by and between Slinger Bag Inc. a Nevada corporation with headquarters located at 709 North Rolling Road, Suite
116, Windsor Mill, Baltimore, MD 21244 (the “Company”), and Midcity Capital Ltd. with an address at 200-345 Wilson
Ave., Toronto, On. Canada M3H5W1 (the “Investor”). The Investor and the Company shall be collectively referred to
as “Parties”.

 

RECITALS

 

WHEREAS,
the parties have entered into a promissory note (the “Note”) and securities purchase agreement dated of even date
hereof, pursuant to which the Investor is to receive warrants to purchase 500,000 shares of the Company’s common stock at
a 40% discount to the market price on the date of purchase; and

 

AGREEMENT

 

Now,
therefore, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto
agree as follows:

 

1.
Warrants.

 

1.1
In consideration for the loan made by the Investor to the Company pursuant to the Note, the Company hereby issues to the Investor
warrants to purchase 500,000 shares of the Company’s common stock at a 40% discount to the market price on the date of purchase
in the form attached hereto as Annex A and reflecting the following terms and conditions (the “Warrants”):

 

	 	a.	The
    Warrants are exercisable to purchase 500,000 shares of the Company’s common stock at a 40% discount to the Market Price
    on the date of purchase. For this purpose, “Market Price” shall equal the closing price on the date of purchase.
	 	b.	The
    Warrants and the underlying shares of common stock exercisable thereto shall be collectively referred to as the “Securities.”

 

1.2
The Warrants shall be exercisable for a period of 24 months from the Effective Date.

 

    	 

     

    

 

2.
Provisions Pertaining to Registration and Transfer of the Warrants

 

	 	a.	The
    Parties further acknowledge and are aware that the Securities may only be disposed of in compliance with respective U.S. state
    and U.S. federal securities laws (including without limitations, any holding period requirements). In connection with any
    transfer of Securities other than pursuant to an effective registration statement, the Company may require the transferor
    thereof to provide to the Company an opinion of counsel selected by the transferor and reasonably acceptable to the Company,
    the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer
    does not require registration of such transferred Securities under the Securities Act of 1933, as amended (the “Securities
    Act”).
	 	 	 
	 	b.	The
    Investor agrees to the imprinting, so long as is required by this Section 3.3 of a legend on any of the Securities in the
    following form:

 

“THIS
SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURIT!ES COMMISSION OF ANY STATE IN RELIANCE
UPON AN EXEMPTION FROM REGISTRATION UNDER THE U.S. 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 U.S. STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT,
THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.”

 

	 	c.	Certificates
    evidencing the Securities shall not contain any legend (including the legend set forth in this Section): (i) while a registration
    statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Securities
    pursuant to Rule 144, (iii) if the Securities are eligible for sale under Rule 144, without the requirement for the Company
    to be in compliance with the current public information required under Rule 144 as to such Securities and without volume or
    manner-of-sale restrictions, or (iv) if such legend is not required under applicable requirements of the Securities Act (including
    judicial interpretations and pronouncements issued by the staff of the Securities Exchange Commission).

 

    	 

     

    

 

	 	d.	In
    the event that the Lender will sell any Securities pursuant to either the registration requirements of the Securities Act,
    including any applicable prospectus delivery requirements, or an exemption therefrom, and that if the Securities are sold
    pursuant to a Registration Statement, they will be sold in compliance with the plan of distribution set forth therein, and
    acknowledges that the removal of the restrictive legend from certificates representing the Securities as set forth herein
    is predicated upon the Company’s reliance upon this understanding.

 

Please
indicate your acceptance of these terms by countersigning where indicated below.

 

Slinger
Bag Inc.

 

	 	 
	Mike
    Ballardie	 
	Title:	Authorized
    signatory	 

 

Agreed
and accepted:

 

Midcity
Capital Ltd

 

	 	 
	Willy
    Tencer	 
	Authorized
    signatory	 

 

    	 

     

    

 

Annex
A

 

THIS
WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF ARTICLE 4 BELOW, MAY NOT BE OFFERED, SOLD OR
OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW
OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR
TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION.

 

WARRANT
TO PURCHASE COMMON STOCK

 

Company:
Slinger Bag Inc.

 

Holder:
Midcity Capital Ltd

 

Shares:
500,000

 

Class
of Stock: common shares of stock of the Company

 

Exercise
Price: 40% discount to the closing price of the Company’s common stock on the date of purchase

 

Issue
Date: March 16, 2020

 

Term:
See Section 4.1

 

THIS
WARRANT CERTIFIES THAT, for value received as consideration pursuant to that certain Note of even date herewith and for other
good and valuable consideration the sufficiency of which is hereby acknowledged, Holder is entitled to purchase fully paid and
nonassessable shares of the Company at the Exercise Price, all as set forth herein, subject to the provisions and upon the terms
and conditions set forth in this Warrant.

 

ARTICLE
1. EXERCISE.

 

1.1
Method of Exercise. Holder may exercise this Warrant by delivering a duly executed Notice of Exercise in substantially
the form attached as Appendix 1 hereto to the principal office of the Company.

 

1.2
Delivery of Certificate and New Warrant. Promptly after Holder exercises this Warrant, the Company shall deliver to Holder
certificates for or other evidence (reasonably acceptable to the Holder) of the Shares received and, if this Warrant has not been
fully exercised and has not expired, a new Warrant representing the Shares not so received.

 

    	 

     

    

 

1.3
Replacement of Warrants. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction
or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably
satisfactory in form and amount to the Company or, in the case of mutilation, on surrender and cancellation of this Warrant, the
Company shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor.

 

ARTICLE
2. ADJUSTMENTS TO THE SHARES.

 

2.1
Stock Dividends, Splits, Combinations, Etc. If the Company declares or pays a dividend on the Shares payable in Common
Stock, or other securities, then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without cost to
Holder, the total number and kind of securities to which Holder would have been entitled had Holder owned the Shares of record
as of the date the dividend occurred. If the Company subdivides the Shares by reclassification or otherwise into a greater number
of shares or takes any other action which increases the amount of stock into which the Shares are convertible, the number of shares
purchasable hereunder shall be proportionately increased and the Exercise Price shall be proportionately decreased. If the outstanding
shares of the Company are combined or consolidated, by reclassification or otherwise, into a lesser number of shares, the Exercise
Price shall be proportionately increased and the number of Shares shall be proportionately decreased.

 

2.2
Reclassification, Exchange or Substitution, Etc. Upon any reclassification, exchange, substitution, or other event that
results in a change of the number and/or class of the securities issuable upon exercise or net exercise of this Warrant, Holder
shall be entitled to receive, upon exercise or net exercise of this Warrant, the number and kind of securities and property that
Holder would have received for the Shares if this Warrant had been exercised immediately before such reclassification, exchange,
substitution, or other event. The Company or its successor shall promptly issue to Holder an amendment to this Warrant setting
forth the number and kind of such new securities or other property issuable upon exercise or net exercise of this Warrant as a
result of such reclassification, exchange, substitution or other event that results in a change of the number and/or class of
securities issuable upon exercise or net exercise of this Warrant.

 

2.3
Merger or Consolidation. Upon any capital reorganization of the Company’s capital stock (other than a subdivision,
combination, reclassification or exchange of shares provided for elsewhere in this Section 2) or a merger or consolidation
of the Company with or into another corporation, then as a part of such reorganization, merger or consolidation, provision shall
be made so that the Holder shall thereafter be entitled to receive upon the exercise of this Warrant, the number and kind of securities
and property of the Company, or of the successor corporation resulting from such reorganization, merger or consolidation, to which
that Holder would have received for the Shares if this Warrant had been exercised immediately before such reorganization, merger
or consolidation.

 

2.4
Fractional Shares. No fractional Shares shall be issuable upon exercise or net exercise of this Warrant and the number
of Shares to be issued shall be rounded up to the nearest whole Share.

 

    	 

     

    

 

ARTICLE
3. COVENANTS OF THE COMPANY.

 

3.1
Notice of Certain Events. If the Company proposes at any time (a) to declare any dividend or distribution upon any
of its stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; (b) to effect
any reclassification or recapitalization of any of its stock; or (c) to merge or consolidate with or into any other corporation,
or sell, lease, license, or convey all or substantially all of its assets, or to liquidate, dissolve or wind up, then, in connection
with each such event, the Company shall give Holder: (1) at least three (3) days prior written notice of the date on
which a record will be taken for such dividend, distribution, or subscription rights (and specifying the date on which the holders
of Common Stock will be entitled thereto) or for determining rights to vote, if any, in respect of the matters referred to in
(a) above; and (2) in the case of the matters referred to in (b) and (c) above at least three (3) days
prior written notice of the date when the same will take place (and specifying the date on which the holders of Common Stock will
be entitled to exchange their Common Stock for securities or other property deliverable upon the occurrence of such event).

 

3.2
No Stockholder Rights or Liabilities. Except as provided in this Warrant, the Holder will not have any rights as a stockholder
of the Company until the exercise of this Warrant. Absent an affirmative action by the Holder to purchase the Shares, the Holder
shall not have any liability as a stockholder of the Company.

 

3.3
Closing of Books. The Company will at no time close its transfer books against the transfer of this Warrant or of any Shares
issued or issuable upon the exercise of this Warrant in any manner which interferes with the timely exercise of this Warrant.

 

ARTICLE
4. MISCELLANEOUS.

 

4.1
Term. This Warrant is exercisable in whole or in part at any time and from time to time on or before the earlier of 5:00
pm Israel Time on the second (2nd) anniversary of the Issue Date.

 

4.2
Legends. This Warrant and the Shares (and the securities issuable, directly or indirectly, upon exercise of the Warrants,
if any) shall be imprinted with a legend in substantially the following form:

 

THIS
WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND
UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE
SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION.

 

    	 

     

    

 

4.3
Transfers. This Warrant and the Shares issuable upon exercise of this Warrant (and the securities issuable, directly or
indirectly, upon exercise of the Warrants, if any) may not be transferred or assigned in whole or in part without compliance with
applicable federal and state securities laws by the transferor and the transferee (including, without limitation, the delivery
of investment representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the
Company). After compliance with all restrictions on transfer set forth in this Section 4.3, and within a reasonable time
after the Company’s receipt of an executed Assignment Form in the form attached hereto, the transfer shall be recorded on
the books of the Company upon the surrender of this Warrant, properly endorsed, to the Company at its principal offices, and the
payment to the Company of all transfer taxes and other governmental charges imposed on such transfer. In the event of a partial
transfer, the Company shall issue to the new holders one or more appropriate new warrants.

 

4.4
Notices. All notices and other communications from the Company to the Holder, or vice versa, shall be deemed delivered
and effective when given personally or mailed by first-class registered or certified mail, postage prepaid, at such address as
may have been furnished to the Company or the Holder, as the case may (or on the first business day after transmission by facsimile)
be, in writing by the Company or such Holder from time to time. Effective upon receipt of the fully executed Warrant, all notices
to the Holder shall be addressed as set forth on the signature page hereto until the Company receives notice of a change of address
in connection with a transfer or otherwise. Notice to the Company shall be addressed as set forth on the signature page hereto
until the Holder receives notice of a change in address.

 

4.5
Waiver. This Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing
signed by the party against which enforcement of such change, waiver, discharge or termination is sought.

 

4.6
Counterparts. This Warrant may be executed in counterparts, all of which together shall constitute one and the same agreement.

 

4.7
Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of New York, without
giving effect to its principles regarding conflicts of law.

 

    	 

     

    

 

Appendix
1

 

SLINGER
BAG INC.

WARRANT
EXERCISE NOTICE

 

Reference
is made to the Warrant Agreement dated March 16, 2020 between Slinger Bag Inc. and Midcity Capital Ltd. (the “Warrant Agreement”).
In accordance with and pursuant to the Warrant Agreement, the undersigned hereby elects to exercise the Warrants in accordance
with the following terms. Capitalized terms used but not defined herein have the meanings assigned to such terms in the Warrant
Agreement.

 

	 	Date
    of Exercise:	 

 

	 	Number
    of shares of common stock to be issued:	 

 

	 	Aggregate
    Purchase Price: 	 

 

Please
issue the common shares of common stock in the following name and to the following address:

 

	 	Issue
    to: 	 	 
	 	 	 	 
	 	 	 	 
	 	Address:
    	 	 
	 	 	 	 
	 	Telephone
    Number: 	 	 
	 	 	 	 
	 	Email
    address: 	 	 
	 	 	 	 
	 	Holder:
    	 	 
	 	 	 	 
	 	By: 	 	 
	 	Title:

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