Document:

Exhibit 4.19

 

FORM OF COMMON STOCK PURCHASE WARRANT

XENETIC BIOSCIENCES, INC.

Warrant Shares: [ ]

THIS COMMON STOCK PURCHASE
WARRANT (the "Warrant") certifies that, for value received, _______________ or its assigns (the "Holder")
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on
or after the date hereof (the "Initial Exercise Date") and on or prior to 5:00 p.m. (New York City time) on [___________]
(the "Termination Date") but not thereafter, to subscribe for and purchase from Xenetic Biosciences, Inc., a Nevada
corporation (the "Company"), up to _______________ shares (as subject to adjustment hereunder, the "Warrant
Shares") of Common Stock. The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise
Price, as defined in Section 2(b). This Warrant shall initially be issued and maintained in the form of a security held in book-entry
form and the Depository Trust Company or its nominee (“DTC”) shall initially be the sole registered holder of
this Warrant, subject to a Holder’s right to elect to receive a Warrant in certificated form pursuant to the terms of the
Warrant Agency Agreement, in which case this sentence shall not apply.

Section 1. Definitions. In addition
to the terms defined elsewhere in this Warrant, the following terms have the meanings indicated in this Section 1:

"Affiliate"
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

"Bid Price"
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed
or quoted on a Trading Market, the bid price of the Common Stock for the time in question (or the nearest preceding date) on the
Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30
a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the volume weighted
average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common
Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported on the Pink
Open Market (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per
share of the Common Stock so reported, or (d) in all other cases, the fair market value of a share of Common Stock as determined
by an independent appraiser selected in good faith by the Holders of a majority in interest of the Warrants then outstanding and
reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

"Business Days"
means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which
banking institutions in the State of New York are authorized or required by law or other governmental action to close.

"Commission"
means the United States Securities and Exchange Commission.

"Common Stock"
means the common stock of the Company, par value $0.001 per share, and any other class of securities into which such securities
may hereafter be reclassified or changed.

"Common Stock
Equivalents" means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire
at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common
Stock..

"Exchange
Act" means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

"Person"
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

"Registration
Statement" means the Company's registration statement on Form S-1 (File No. 333-231508).

"Securities
Act" means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

"Trading Day"
means a day on which the Common Stock is traded on a Trading Market. "Trading Market" means any of the
following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the NYSE American,
the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the New York Stock Exchange (or any successors
to any of the foregoing).

"Transfer Agent"
means Empire Stock Transfer Inc., the current transfer agent of the Company with a mailing address of 1859 Whitney Mesa Drive Henderson,
Nevada 89014, a phone number of (702) 818-5898 and an email address of info@empirestock.com, and any successor transfer agent of
the Company.

 

 

 

    
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"VWAP"
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then
listed or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest
preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based
on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading
Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX
as applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common
Stock are then reported on the Pink Open Market (or a similar organization or agency succeeding to its functions of reporting
prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value
of a share of Common Stock as determined by an independent appraiser selected in good faith by the holders of a majority in interest
of the Warrants then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the
Company.

“Warrant Agency
Agreement” means that certain warrant agency agreement, dated on or about the Initial Exercise Date, between the Company
and the Warrant Agent.

“Warrant Agent”
means the Transfer Agent and any successor warrant agent of the Company.

"Warrants"
means this Warrant and other Common Stock purchase warrants issued by the Company pursuant to the Registration Statement.

Section 2. Exercise.

a) Exercise of Warrant.
Subject to the provisions of Section 2(e) herein, exercise of the purchase rights represented by this Warrant may be made, in whole
or in part, at any time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the
Company of a duly executed facsimile copy or PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the
form annexed hereto (the "Notice of Exercise"). Within the earlier of (i) two (2) Trading Days and (ii) the number
of Trading Days comprising the Standard Settlement Period (as defined in Section 2(d)(i) herein) following the date of exercise
as aforesaid, the Holder shall deliver the aggregate Exercise Price for the Warrant Shares specified in the applicable Notice of
Exercise by wire transfer or cashier's check drawn on a United States bank unless the cashless exercise procedure specified in
Section 2(c) below is specified in the applicable Notice of Exercise. No ink-original Notice of Exercise shall be required, nor
shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding
anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the
Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the
Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading Days of the date on which the final
Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total
number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable
hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records
showing the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice
of Exercise within one (1) Trading Day of receipt of such notice. The Holder and any assignee, by acceptance of this Warrant,
acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares
hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on
the face hereof.

Notwithstanding the
foregoing in this Section 2(a), a holder whose interest in this Warrant is a beneficial interest in certificate(s) representing
this Warrant held in book-entry form through DTC (or another established clearing corporation performing similar functions), shall
effect exercises made pursuant to this Section 2(a) by delivering to DTC (or such other clearing corporation, as applicable) the
appropriate instruction form for exercise, complying with the procedures to effect exercise that are required by DTC (or such other
clearing corporation, as applicable), subject to a Holder’s right to elect to receive a Warrant in certificated form pursuant
to the terms of the Warrant Agency Agreement, in which case this sentence shall not apply.

b) Exercise Price.
The exercise price per share of Common Stock under this Warrant shall be $[ , subject to adjustment hereunder (the "Exercise
Price").

 

 

 

    
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c) Cashless Exercise.
If at the time of exercise hereof there is no effective registration statement registering, or the prospectus contained therein
is not available for the issuance of the Warrant Shares to the Holder, then this Warrant may also be exercised, in whole or in
part, at such time by means of a "cashless exercise" in which the Holder shall be entitled to receive a number of Warrant
Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

(A) = as applicable:
(i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise
is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and
delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of "regular trading hours" (as defined
in Rule 600(b)(64) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of
the Holder, either (y) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise or (z) the
Bid Price of the Common Stock on the principal Trading Market as reported by Bloomberg L.P. as of the time of the Holder's execution
of the applicable Notice of Exercise if such Notice of Exercise is executed during "regular trading hours" on a Trading
Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of "regular trading hours"
on a Trading Day) pursuant to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date
of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a)
hereof after the close of "regular trading hours" on such Trading Day;

(B) = the Exercise
Price of this Warrant, as adjusted hereunder; and

(X) = the number of
Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise
were by means of a cash exercise rather than a cashless exercise.

 

In addition, a cashless
exercise may occur after 30 days from pricing (the “Cashless Date”), if the VWAP of the Common Stock on any Trading
Day on or after the Cashless Date fails to exceed the Exercise Price in effect as of the date hereof (subject to adjustment for
any stock splits, stock dividends, stock combinations, recapitalizations and similar events). In such event, in lieu of the formula,
the aggregate number of Warrant Shares issuable in such cashless exercise pursuant to any given Notice of Exercise electing to
effect a cashless exercise shall equal the product of (x) the aggregate number of Warrant Shares that would be issuable upon exercise
of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless
exercise and (y) 1.0.

 

If Warrant Shares are
issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities
Act, the Warrant Shares shall take on the registered characteristics of the Warrants being exercised. The Company agrees not to
take any position contrary to this Section 2(c).

 

d) Mechanics of
Exercise.

i. Delivery of Warrant
Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted by the Transfer Agent
to the Holder by crediting the account of the Holder's or its designee's balance account with The Depository Trust Company through
its Deposit or Withdrawal at Custodian system ("DWAC") if the Company is then a participant in such system and
either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant
Shares by the Holder or (B) this Warrant is being exercised via cashless exercise, and otherwise by physical delivery of a certificate,
registered in the Company's share register in the name of the Holder or its designee, for the number of Warrant Shares to which
the Holder is entitled pursuant to such exercise to the address specified by the Holder in the Notice of Exercise by the date that
is the earliest of (i) two (2) Trading Days after the delivery to the Company of the Notice of Exercise, (ii) one (1) Trading Day
after delivery of the aggregate Exercise Price to the Company and (iii) the number of Trading Days comprising the Standard Settlement
Period after the delivery to the Company of the Notice of Exercise (such date, the "Warrant Share Delivery Date").
Upon delivery of the Notice of Exercise, the Holder shall be deemed for all corporate purposes to have become the holder of record
of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date of delivery of the Warrant
Shares, provided that payment of the aggregate Exercise Price (other than in the case of a cashless exercise) is received within
the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period following
delivery of the Notice of Exercise. If the Company fails for any reason to deliver to the Holder the Warrant Shares subject to
a Notice of Exercise by the Warrant Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and
not as a penalty, for each $1,000 of Warrant Shares subject to such exercise (based on the VWAP of the Common Stock on the date
of the applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th)Trading Day after
such liquidated damages begin to accrue) for each Trading Day after such Warrant Share Delivery Date until such Warrant Shares
are delivered or Holder rescinds such exercise. The Company agrees to maintain a transfer agent that is a participant in the FAST
program so long as this Warrant remains outstanding and exercisable. As used herein, "Standard Settlement Period"
means the standard settlement period, expressed in a number of Trading Days, on the Company's primary Trading Market with respect
to the Common Stock as in effect on the date of delivery of the Notice of Exercise.

 

 

 

    
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ii. Delivery of New
Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder and
upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant
evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall
in all other respects be identical with this Warrant.

iii. Rescission Rights.
If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to Section 2(d)(i) by the
Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

iv. Compensation for
Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available to the Holder,
if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions
of Section 2(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date (other than any such failure that
is solely due to any action or inaction by the Holder with respect to such exercise), and if after such date the Holder is required
by its broker to purchase (in an open market transaction or otherwise) or the Holder's brokerage firm otherwise purchases, shares
of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving
upon such exercise (a "Buy-In"), then the Company shall (A) pay in cash to the Holder the amount, if any,
by which (x) the Holder's total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased
exceeds (y) the amount obtained by multiplying (1) the number of Warrant Shares that the Company was required to deliver to the
Holder in connection with the exercise at issue times (2) the price at which the sell order giving rise to such purchase obligation
was executed, and (B) at the option of the Holder, either reinstate the portion of the Warrant and equivalent number of Warrant
Shares for which such exercise was not honored (in which case such exercise shall be deemed rescinded) or deliver to the Holder
the number of shares of Common Stock that would have been issued had the Company timely complied with its exercise and delivery
obligations hereunder. For example, if the Holder purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In
with respect to an attempted exercise of shares of Common Stock with an aggregate sale price giving rise to such purchase obligation
of $10,000, under clause (A) of the immediately preceding sentence the Company shall be required to pay the Holder $1,000. The
Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon
request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder's right to pursue any other remedies
available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive
relief with respect to the Company's failure to timely deliver shares of Common Stock upon exercise of the Warrant as required
pursuant to the terms hereof.

v. No Fractional Shares
or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant. As
to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at its
election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the
Exercise Price or round up to the next whole share.

vi. Charges, Taxes
and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or other
incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the Company,
and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided,
however, that in the event that Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant
when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and the
Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto.
The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise and all fees to the Depository
Trust Company (or another established clearing corporation performing similar functions) required for same-day electronic delivery
of the Warrant Shares.

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

e) Holder's Exercise
Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any
portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after exercise
as set forth on the applicable Notice of Exercise, the Holder (together with the Holder's Affiliates, and any other Persons acting
as a group together with the Holder or any of the Holder's Affiliates (such Persons, "Attribution Parties")), would beneficially
own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of
shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of
shares of Common Stock issuable upon exercise of this Warrant with respect to which such determination is being made, but shall
exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of
this Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of
the unexercised or nonconverted portion of any other securities of the Company (including, without limitation, any other Common
Stock Equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially
owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes
of this Section 2(e), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules
and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder
that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules
required to be filed in accordance therewith.

 

 

 

    
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To the extent
that the limitation contained in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in relation
to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Warrant
is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be
the Holder's determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together
with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable, in each case subject to the
Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination.
In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d)
of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 2(e), in determining the
number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected
in (A) the Company's most recent periodic or annual report filed with the Commission, as the case may be, (B) a more recent public
announcement by the Company or (C) a more recent written notice by the Company or the Transfer Agent setting forth the number
of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within one Trading Day
confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding. In any case, the number of
outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the
Company, including this Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number
of outstanding shares of Common Stock was reported. The "Beneficial Ownership Limitation" shall be 4.99% of the
number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable
upon exercise of this Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation
provisions of this Section 2(e), provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of
shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise
of this Warrant held by the Holder and the provisions of this Section 2(e) shall continue to apply. Any increase in the Beneficial
Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of
this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section
2(e) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership
Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation.
The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

Section 3. Certain Adjustments.

a) Stock Dividends
and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise makes a
distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in shares
of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon exercise
of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including
by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by reclassification
of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied
by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding
immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately
after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that
the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become
effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution
and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

b) Subsequent Rights
Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues or sells
any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to all (or substantially
all) of the record holders of any class of shares of Common Stock (the "Purchase Rights"), then the Holder
will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder
could have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant
(without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately
before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken,
the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase
Rights (provided, however, to the extent that the Holder's right to participate in any such Purchase Right would result in the
Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right
to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such
Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not
result in the Holder exceeding the Beneficial Ownership Limitation).

 

 

    
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c) Pro Rata Distributions.
During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other distribution of its
assets (or rights to acquire its assets) to all (or substantially all) of holders of shares of Common Stock, by way of return of
capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by
way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a
"Distribution"), at any time after the issuance of this Warrant, then, in each such case, the Holder shall be
entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had
held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations
on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record
is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock
are to be determined for the participation in such Distribution (provided, however, to the extent that the Holder's
right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership Limitation, then the
Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any shares of
Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for
the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial
Ownership Limitation).

d) Fundamental
Transaction. Other than the issuance of securities in connection with (A) the Company's public offering pursuant to which
this Warrant is being issued, which offering was registered on Registration Statement on Form S-1, Registration No.
333-231508 (the "Form S-1") and (B) the Transaction, as defined in and described in the Form S-1, if at any time
while this Warrant is outstanding (i) the Company, directly or indirectly, in one or more related transactions effects any
merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly, effects any
sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one
or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether
by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or
exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the
outstanding Common Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any
reclassification, reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which
the Common Stock is effectively converted into or exchanged for other securities, cash or property, or (v) the Company,
directly or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other business
combination (including, without limitation, a reorganization, recapitalization, spin-off, merger or scheme of arrangement)
with another Person or group of Persons whereby such other Person or group acquires more than 50% of the outstanding shares
of Common Stock (not including any shares of Common Stock held by the other Person or other Persons making or party to, or
associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or other
business combination) (each a "Fundamental Transaction"), then, upon any subsequent exercise of this
Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon such exercise
immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard to any
limitation in Section 2(e) on the exercise of this Warrant), the number of shares of Common Stock of the successor or
acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the
"Alternate Consideration") receivable as a result of such Fundamental Transaction by a holder of the number
of shares of Common Stock for which this Warrant is exercisable immediately prior to such Fundamental Transaction (without
regard to any limitation in Section 2(e) on the exercise of this Warrant). For purposes of any such exercise, the
determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the
amount of Alternate Consideration issuable in respect of one share of Common Stock in such Fundamental Transaction, and the
Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative
value of any different components of the Alternate Consideration. If holders of Common Stock are given any choice as to the
securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as
to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction.

 

 

 

    
	 	6	 

     

    

 

Notwithstanding anything to the
contrary, in the event of a Fundamental Transaction, the Company or any Successor Entity (as defined below) shall, at the
Holder's option, exercisable at any time concurrently with, or within 30 days after, the consummation of the Fundamental
Transaction (or, if later, the date of the public announcement of the applicable Fundamental Transaction), purchase this
Warrant from the Holder by paying to the Holder an amount of cash equal to the Black Scholes Value of the remaining
unexercised portion of this Warrant on the date of the consummation of such Fundamental Transaction; provided, however,
if the Fundamental Transaction is not within the Company's control for purposes of GAAP, including not approved by the
Company's Board of Directors, Holder shall only be entitled to receive from the Company or any Successor Entity, as of the
date of consummation of such Fundamental Transaction, the same type or form of consideration (and in the same proportion), at
the Black Scholes Value (as defined below) of the unexercised portion of this Warrant, that is being offered and paid to the
holders of Common Stock of the Company in connection with the Fundamental Transaction, whether that consideration be in the
form of cash, stock or any combination thereof, or whether the holders of Common Stock are given the choice to receive from
among alternative forms of consideration in connection with the Fundamental Transaction. "Black Scholes Value"
means the value of this Warrant based on the Black Scholes Option Pricing Model obtained from the "OV" function on
Bloomberg, L.P. ("Bloomberg") determined as of the day of consummation of the applicable Fundamental Transaction
for pricing purposes and reflecting (A) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal
to the time between the date of the public announcement of the applicable Fundamental Transaction and the Termination Date,
(B) an expected volatility equal to the greater of 100% and the 100 day volatility obtained from the HVT function on
Bloomberg as of the Trading Day immediately following the public announcement of the applicable Fundamental Transaction, (C)
the underlying price per share used in such calculation shall be the greater of (i) the sum of the price per share being
offered in cash, if any, plus the value of any non-cash consideration, if any, being offered in such Fundamental Transaction
and (ii) the greater of (x) the last VWAP immediately prior to the public announcement of such Fundamental Transaction and
(y) the last VWAP immediately prior to the consummation of such Fundamental Transaction, and (D) a remaining option time
equal to the time between the date of the public announcement of the applicable Fundamental Transaction and the Termination
Date. The payment of the Black Scholes Value will be made by wire transfer of immediately available funds (or such other
consideration) within five Business Days of the Holder's election (or, if later, on the effective date of the Fundamental
Transaction). The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the
survivor (the "Successor Entity") to assume in writing all of the obligations of the Company under this Warrant in
accordance with the provisions of this Section 3(d) pursuant to written agreements in form and substance reasonably
satisfactory to the Holder prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the
Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially
similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of
such Successor Entity (or its parent entity) equivalent to the shares of Common Stock acquirable and receivable upon exercise
of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental
Transaction, and with an exercise price which applies the exercise price hereunder to such shares of capital stock (but
taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value
of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose of
protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and
which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental
Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such
Fundamental Transaction, the provisions of this Warrant referring to the "Company" shall refer instead to the
Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the
Company under this Warrant with the same effect as if such Successor Entity had been named as the Company herein. For the
avoidance of doubt, if at any time while this Warrant is outstanding, a Fundamental Transaction occurs, pursuant to the terms
of this Section 3(d), the Holder shall not be entitled to receive more than one of (i) the consideration receivable as a
result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant is
exercisable immediately prior to such Fundamental Transaction, (ii) an amount of cash equal to the Black Scholes Value of the
remaining unconverted portion of this Warrant on the date of the consummation of such Fundamental Transaction, or (iii) the
assumption by the Successor Entity of all of the obligations of the Company under this Warrant and the option to receive a
security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to
this Warrant.

e) [Reserved.]

f) Calculations.
All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall
be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

 

 

    
	 	7	 

     

    

 

g) Notice to Holder.

i. Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly
deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment and any resulting adjustment
to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

ii. Notice to Allow
Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Common
Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Company
shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares of capital
stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with any
reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer of all
or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted into
other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or
winding up of the affairs of the Company, then, in each case, the Company shall cause to be delivered by facsimile or email to
the Holder at its last facsimile number or email address as it shall appear upon the Warrant Register of the Company, at least
twenty (20) calendar days prior to the applicable record or effective date hereinafter specified, a notice (unless such information
is filed with the Commission, in which case a notice shall not be required) stating (x) the date on which a record is to be taken
for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as
of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants
are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is
expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall
be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification,
consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver such notice or any defect therein
or in the delivery thereof shall not affect the validity of the corporate action required to be specified in such notice. To the
extent that any notice provided in this Warrant constitutes, or contains, material, non-public information regarding the Company
or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report
on Form 8-K. The Holder shall remain entitled to exercise this Warrant during the period commencing on the date of such notice
to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.

Section 4. Transfer of Warrant.

a) Transferability.
This Warrant and all rights hereunder are transferable, in whole or in part, upon surrender of this Warrant at the principal office
of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached hereto
duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of
such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants
in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument
of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant
shall promptly be cancelled. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender
this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this
Warrant to the Company within three (3) Trading Days of the date on which the Holder delivers an assignment form to the Company
assigning this Warrant in full. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for
the purchase of Warrant Shares without having a new Warrant issued.

b) New Warrants.
If this Warrant is not held in global form through DTC (or any successor depositary), this Warrant may be divided or combined with
other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written notice specifying the names
and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance
with Section 4(a), as to any transfer which may be involved in such division or combination, the Company shall execute and deliver
a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. All
Warrants issued on transfers or exchanges shall be dated the initial issuance date of this Warrant and shall be identical with
this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

c) Warrant Register.
The Warrant Agent (or, in the event a Holder elects to receive a Definitive Certificate (as defined in the Warrant Agency Agreement),
the Company), shall register this Warrant, upon records to be maintained by the Warrant Agent (or, in the event a Holder elects
to receive a Definitive Certificate, the Company) for that purpose (the “Warrant Register”), in the name of the record
Holder hereof from time to time. The Company and the Warrant Agent may deem and treat the registered Holder of this Warrant as
the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes,
absent actual notice to the contrary.

Section 5. Miscellaneous.

 

 

 

    
	 	8	 

     

    

 

a) No Rights
as Stockholder Until Exercise; No Settlement in Cash. This Warrant does not entitle the Holder to any voting rights,
dividends or other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except
as expressly set forth in Section 3. Without limiting the rights of a Holder to receive Warrant Shares on a "cashless exercise,"
and to receive the cash payments contemplated pursuant to Sections 2(d)(i) and 2(d)(iv), in no event will the Company be required
to net cash settle a Warrant exercise.

b) Loss, Theft,
Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory
to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares, and
in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant,
shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated,
the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of
such Warrant or stock certificate.

c) Saturdays, Sundays,
Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted
herein shall not be a Business Day, then, such action may be taken or such right may be exercised on the next succeeding Business
Day.

d) Authorized Shares.

The Company covenants
that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient
number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant.
The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged
with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company
will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without
violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common Stock may be
listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented
by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant Shares in accordance
herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by
the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such
issue).

Except and to the
extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its
certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale
of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this
Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions
as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting
the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable
therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or
appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise
of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any
public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under
this Warrant.

Before taking any action
which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price,
the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public
regulatory body or bodies having jurisdiction thereof.

e) Governing Law.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be governed by and construed
and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law
thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions
contemplated by this Warrant (whether brought against a party hereto or their respective affiliates, directors, officers, shareholders,
partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City of New
York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of
New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper
or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents
to process being served in any such suit, action or proceeding 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 Warrant 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. If either party shall commence an action,
suit or proceeding to enforce any provisions of this Warrant, the prevailing party in such action, suit or proceeding shall be
reimbursed by the other party for their reasonable attorneys' fees and other costs and expenses incurred with the investigation,
preparation and prosecution of such action or proceeding. Notwithstanding the foregoing, nothing in this paragraph shall limit
or restrict the federal district court in which a Holder may bring a claim under the federal securities laws.

 

 

 

    
	 	9	 

     

    

 

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

g) Nonwaiver and
Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate
as a waiver of such right or otherwise prejudice the Holder's rights, powers or remedies. Without limiting any other provision
of this Warrant, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any
material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and
expenses including, but not limited to, reasonable attorneys' fees, including those of appellate proceedings, incurred by the Holder
in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

h) Notices.
Any and all notices or other communications or deliveries to be provided by the Holders hereunder including, without limitation,
any Notice of Exercise, shall be in writing and delivered personally, by facsimile or e-mail, or sent by a nationally recognized
overnight courier service, addressed to the Company, at 40 Speen Street, Suite 102, Framingham, Massachusetts 01701, Attention:
Chief Executive Officer, facsimile number [ ], E-mail: info@xeneticbio.com, or such other facsimile number, email address or address
as the Company may specify for such purposes by notice to the Holders. Any and all notices or other communications or deliveries
to be provided by the Company hereunder shall be in writing and delivered personally, by facsimile or e-mail, or sent by a nationally
recognized overnight courier service addressed to each Holder at the facsimile number, e-mail address or address of such Holder
appearing on the books of the Company. Any notice or other communication or deliveries hereunder shall be deemed given and effective
on the earliest of (i) the time of transmission, if such notice or communication is delivered via facsimile at the facsimile number
or via e-mail at the e-mail address set forth in this Section prior to 5:30 p.m. (New York City time) on any date, (ii) the next
Trading Day after the time of transmission, if such notice or communication is delivered via facsimile at the facsimile number
or via e-mail at the e-mail address set forth in this Section on a day that is not a Trading Day or later than 5:30 p.m. (New York
City time) on any Trading Day, (iii) the second Trading Day following the date of mailing, if sent by U.S. nationally recognized
overnight courier service, or (iv) upon actual receipt by the party to whom such notice is required to be given. To the extent
that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any Subsidiaries,
the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K.

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

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

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

l) Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company, on the one hand,
and the Holder or the beneficial owner of this Warrant, on the other hand.

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

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

o) Warrant Agency
Agreement. If this Warrant is held in global form through DTC (or any successor depositary), this Warrant is issued subject
to the Warrant Agency Agreement. To the extent any provision of this Warrant conflicts with the express provisions of the Warrant
Agency Agreement, the provisions of this Warrant shall govern and be controlling.

********************

(Signature Page Follows)

 

 

 

    
	 	10	 

     

    

 

IN WITNESS WHEREOF,
the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

XENETIC BIOSCIENCES, INC.

By: _________________________________

Name:

Title:

 

 

 

 

 

 

 

    
	 	11	 

     

    

 

NOTICE OF EXERCISE

TO: XENETIC BIOSCIENCES, INC.

(1) The undersigned hereby
elects to purchase Warrant Shares of the Company pursuant to the terms of the attached Warrant (only if exercised in full), and
tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

(2) Payment shall take
the form of (check applicable box):

[_] in lawful money of the United
States; or

[_] if permitted the cancellation
of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c), to exercise this
Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth
in subsection 2(c).

(3) Please issue said
Warrant Shares in the name of the undersigned or in such other name as is specified below:

________________________________

The Warrant Shares shall be delivered to
the following DWAC Account Number:

________________________________

________________________________

________________________________

[SIGNATURE OF HOLDER]

Name of Investing Entity:

___________________________________________________________________

Signature of Authorized Signatory of
Investing Entity:

___________________________________________________________________

Name of Authorized Signatory:

___________________________________________________________________

Title of Authorized Signatory:

___________________________________________________________________

Date:

___________________________________________________________________

 

 

 

 

 

 

    
	 	12	 

     

    

 

ASSIGNMENT FORM

(To assign the foregoing
Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

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

	
        Name:

        Address:

        Phone Number:

        Email

        Address:

        Dated: _______________ __, ______

        Holder's Signature:

        Holder's Address:
	
        (Please Print)

        (Please Print)

        _____________________________________

        _____________________________________

 

 

 

 

 

 

 

 

    
	 	13Exhibit 10.1

 

SHARE PURCHASE/ EXCHANGE AGREEMENT

 

This Share Purchase/
Exchange Agreement (the “Agreement”), is made and entered into as of July 10, 2019, by and among Jialijia Group
Corporation Limited, a Nevada corporation (the “Parent”), Huazhongyun Group Co., Limited, a Hong Kong company
(the “Company”), and Jin Na, the sole shareholder of the Company (“Shareholder”). The Parent,
Shareholder and Company are sometimes hereinafter collectively referred to as the “Parties” and each individually
as a “Party.”

 

RECITALS

 

WHEREAS, the Company
has issued an aggregate of 10,000 ordinary shares, issued and outstanding (the “Company Shares”), 100% of which
are held by the Shareholder;

 

WHEREAS, the Company
owns 6,000,000 shares (the “Parent Shares”) of common stock of the Parent, which represent approximately 82% of the
shares of the Parent’s common stock, issued and outstanding, par value $0.001 per share;

 

WHEREAS, the Shareholder
has agreed to sell and transfer all of the Company Shares the Shareholder owns to the Parent in exchange for all of the Parent
Shares (“Transaction”);

 

WHEREAS, the Parties have determined that
it is desirable and in the best interests of the Parties to effect this Agreement.

 

AGREEMENT

 

NOW, THEREFORE,
in consideration of the foregoing and the mutual promises, representations, warranties, covenants and agreements herein contained,
the Parties hereto, intending to be legally bound, hereby agree as follows:

 

ARTICLE 1

PURCHASE/EXCHANGE OF COMPANY SHARES

 

1.1. Share Purchase/ Exchange. At the
Closing, the Shareholder shall transfer, convey, assign and deliver to the Parent all of its Company Shares free and clear of
all Liens and simultaneously the Company shall transfer, convey, assign and deliver to the Shareholder all of the Parent
Shares, free and clear of all Liens.

 

1.2. Closing. The closing (the
“Closing”) of the Transaction contemplated by this Agreement, shall take place at the New York offices of
Sichenzia Ross Ference LLP in commencing upon the satisfaction or waiver of all conditions and obligations of the Parties to
consummate the Transaction (other than conditions and obligations with respect to the actions that the respective Parties
will take at the Closing) on a date as the Parties shall mutually agree (the “Closing Date”).

 

1.3. Change of the Registration Records. After
the Closing and within a period of reasonable and practicable time, the Shareholder shall cause the Company to amend its
registration record to reflect that the Parent will own 100% of the issued and outstanding Company Shares and the Company
shall cause the Parent to update its shareholder list to reflect the Shareholder’s ownership of the Parent Shares.

 

    1

     

    

 

ARTICLE 2

REPRESENTATIONS OF THE SHAREHOLDER

 

The Shareholder represents and warrants to the other
Parties as follows:

 

2.1. Power
and Authority. All acts required to be taken by the Shareholder to enter into this Agreement and to carry out the Transaction
have been properly taken. The obligations of the Shareholder under this Agreement constitute legal, valid and binding obligations
of the Shareholder, enforceable against the Shareholder in accordance with the terms hereof.

 

2.2. No Conflicts. The execution and
delivery of this Agreement by the Shareholder (i) will not require the consent of any Governmental Entity under any Laws;
(ii) will not violate any Law, regulations or ordinances applicable to such Shareholder; and (iii) will not violate or breach
any contractual obligations of such Shareholder based on any Contract to which the Shareholder is a party and which prohibits
the Transaction contemplated hereby.

 

ARTICLE 3

REPRESENTATIONS AND WARRANTIES OF THE
COMPANY

 

The Company represents and warrants to the other
Parties that:

 

3.1. Organization, Standing and Corporate Power.
The Company is duly organized, validly existing and in good standing under the Laws of Hong Kong.

 

3.2. Capital Structure of the Company. As
of the date of this Agreement, all outstanding shares of common stock of the Company are duly authorized, validly issued,
fully paid and non-assessable and not subject to preemptive rights. As of the date hereof, the Shareholder of the Company
owns 100% of the Company Shares issued and outstanding and there is no outstanding securities convertible into common stock
of the Company. Within a reasonable and practicable period of time of the Closing, the Company shall update its book to
reflect the Parent as the sole holder and owner of the Company Shares purchased or exchanged pursuant to this Agreement.

 

3.3. Governmental Authorization. No
consent, approval, Order or authorization of, or registration, declaration or filing with, or notice to, any Governmental
Entity, is required in connection with the execution and delivery of this Agreement or the consummation of the Transaction
contemplated hereby.

 

    2

     

    

 

3.4. Tax Returns and Tax Payments. The
Company has properly filed all Tax Returns required to be filed and has paid all Taxes shown thereon to be due. To the
Company’s Knowledge, all Tax Returns previously filed are true and correct in all Material respects.

 

As
used herein, “Taxes” shall mean all taxes of any kind, including, without limitation, those on or measured by
or referred to as income, gross receipts, sales, use, ad valorem, franchise, profits, license, withholding, payroll, employment,
excise, severance, stamp, occupation, premium, value added, property or windfall profits taxes, customs, duties or similar fees,
assessments or charges of any kind whatsoever, together with any interest and any penalties, additions to tax or additional amounts
imposed by any governmental authority, domestic or foreign. As used herein, “Tax Return” shall mean any return,
report or statement required to be filed with any governmental authority with respect to Taxes.

 

3.5. Properties. The Company has valid
land use rights for all real property that is Material to its business and good, clear and marketable title to all the
tangible properties and tangible Assets reflected in the latest consolidated financial statements (the “Consolidated
Financial Statements”) as being owned by the Company or acquired after the date thereof which are, individually or
in the aggregate, Material to their business (except properties sold or otherwise disposed of since the date thereof in the
ordinary course of business). Any real property and facilities held under lease by the Company are held by them under valid,
subsisting and enforceable leases of which the Company is in compliance, are not reasonably be expected to result in a
Material Adverse Effect on the Company. A list of Material Assets is set forth in Exhibit A attached hereto.

 

 3.6. Reserved.

 

3.7. Undisclosed Liabilities. The
Company has no liabilities or monetary obligations of any nature (whether fixed or unfixed, secured or unsecured, known or
unknown and whether absolute, accrued, contingent, or otherwise).

 

3.8. Good Title. The Shareholder is the
record and beneficial owner, and has good and marketable title to its Shares, with the right and authority to sell and
deliver such Company Shares to the Parent as provided herein. Upon registering the Parent as the new owner of the
Shareholder’s Company Shares in the share register of the Company, the Parent shall receive good title to such Company
Shares, free and clear of all Liens.

 

3.9. No Conflicts. The execution and
delivery of this Agreement by the Company (i) will not violate any Law, regulations or ordinances applicable to the Company;
and (ii) will not violate or breach any contractual obligations of the Company based on any Contract to which the Company is
a party and which prohibits the Transaction contemplated hereby.

 

    3

     

    

 

ARTICLE 4

REPRESENTATIONS AND WARRANTIES OF THE
PARENT

 

The Parent hereby represents, warrants, covenants
and agrees as follows:

 

4.1. Organization, Standing and Corporate
Power. The Parent is a Nevada corporation duly organized, validly existing and in good standing under the laws of Nevada.
The Parent is not in violation of any provisions of its memorandum or articles of association. No consent, approval or
agreement of any individual or entity is required to be obtained by the Parent in connection with the execution and
performance by the Parent of this Agreement or the execution and performance by the Parent of any agreements, instruments or
other obligations entered into in connection with this Agreement.

 

The
Parent has full power and authority to carry out the Transaction provided for in this Agreement, and this Agreement constitutes
the legal, valid and binding obligations of the Parent, enforceable in accordance with its terms. The execution and delivery of
this Agreement by the Parent and the consummation of the Transaction contemplated by this Agreement will not result in any Material
violation of the Parent’s memorandum or articles of association or any applicable Law.

 

4.2. Compliance. The Parent has complied
with, is not in violation of, and has not received any notices of violation of any federal, state, local or foreign Law,
judgment, decree, injunction or order, applicable to it, with respect to the conduct of its business or the ownership or
operation of its business.

 

4.3. Tax Liabilities. The Parent has
properly filed all Tax Returns required to be filed and has paid all Taxes shown thereon to be due. To the Parent’s
Knowledge, all Tax Returns previously filed are true and correct in all Material respects.

 

4.4. Undisclosed Liabilities. The Parent
has no liabilities or monetary obligations of any nature (whether fixed or unfixed, secured or unsecured, known or unknown
and whether absolute, accrued, contingent, or otherwise) except for such liabilities or obligations reflected or reserved
against in the Parent’s Financial Statements.

 

4.5. Good Title. The Company is the
record and beneficial owner, and has good and marketable title to the Parent Shares, with the right and authority to sell and
deliver such Parent Shares to the Shareholder as provided herein.

 

ARTICLE 5

CLOSING DELIVERIES

 

5.1.
Deliveries from the Company. On the Closing Date, the Company shall deliver or cause to be delivered to the Shareholder
the stock certificates representing the Parent Shares with an appropriate signature medallion guarantee, stock power or such
other proof of ownership as shall be reasonably acceptable to the Shareholder.

 

5.2.
Deliveries from the Shareholder. On the Closing Date, the Shareholder shall deliver or cause to be delivered to the
Parent the stock certificates representing the Shareholder’s Company Shares with an appropriate signature medallion
guarantee, stock power or such other proof of ownership as shall be reasonably acceptable to the Parent.

 

    4

     

    

 

ARTICLE 6

TERMINATION

 

 6.1. Termination. This Agreement may
be terminated and rescinded at any time prior to the Closing Date:

 

(i)
by either the Company or Parent, if the other Party (which, in the case of Company, shall mean the Company or any Shareholder)
has breached any representation or warranty set forth in this Agreement and such breach has resulted or can reasonably be expected
to result in a Material Adverse Effect on such other Party or would prevent or Materially delay the consummation of the Transaction;
or

 

(ii) by
any Party, if a permanent injunction or other Order by any court which would make illegal or otherwise restrain or
prohibit the consummation of the Transactions shall have been issued and shall have become final and non-appealable;

 

6.2. Notice of Termination. Any
termination of this Agreement under Section 7.1 will be effective immediately upon by the delivery of written notice of the
terminating Party to the other Parties hereto specifying with reasonable particularity the reason for such termination.

 

ARTICLE 7

MISCELLANEOUS

 

7.1. Entire Agreement. This Agreement
constitutes the entire agreement among the Parties relating to the subject matter hereof, superseding any and all prior or
contemporaneous oral and prior written agreements, understandings and letters of intent. This Agreement may not be modified
or amended nor may any right be waived except by a writing which expressly refers to this Agreement, states that it is a
modification, amendment or waiver and is signed by all Parties with respect to a modification or amendment or the Party
granting the waiver with respect to a waiver. Neither course of conduct or dealing nor trade custom or usage shall modify any
provisions of this Agreement.

 

7.2. Severability. If any term or other
provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law, or public policy, all
other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic
or legal substance of the Transaction contemplated hereby is not affected in any manner adverse to any Party. Upon such
determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties hereto shall
negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible,
in a mutually acceptable manner, to the end that the Transaction is fulfilled to the extent possible.

 

 7.3. Governing Law. This Agreement shall
be governed by and construed in accordance with the laws of the Nevada.

 

 7.4. Parties in Interest. This Agreement
shall be binding upon and inure to the benefits of the Parties hereto.

 

    5

     

    

 

7.5. Counterparts. This Agreement may be
executed simultaneously in two or more counterparts, any one of which need not contain the signatures of more than one Party,
but all such counterparts taken together will constitute one and the same Agreement. This Agreement, to the extent delivered
by means of a facsimile machine or electronic mail (any such delivery, an “Electronic Delivery”),
shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same
binding legal effect as if it were the original signed version thereof delivered in person. At the request of any Party
hereto, each other Party hereto shall re-execute original forms hereof and deliver them in person to all other Parties.

 

7.6. Independent Nature of Each
Party’s Warranties and Representations. The various representations and warranties set forth in this Agreement or
in any other writing delivered in connection therewith shall survive the Closing.

 

ARTICLE 8

DEFINITIONS

 

The following terms, as used in the Agreement, have
the following meanings:

 

“Agreement” shall have the meaning set forth in the Preamble.

 

“Assets”
shall mean all of the assets, properties, businesses and rights of such Person of every kind, nature, character and description,
whether real, personal or mixed, tangible or intangible, accrued or contingent, or otherwise relating to or utilized in such Person’s
business, directly or indirectly, in whole or in part, whether or not carried on the books and records of such Person, and whether
or not owned in the name of such Person or any Affiliate of such Person and wherever located.

 

“Closing” shall have the
meaning set forth in Section 1.2 of the Agreement.

 

“Closing Date” shall
have the meaning set forth in Section 1.2 of the Agreement.

 

“Company” shall have the meaning set forth
in the Preamble.

 

“Company Share(s)”
shall have the meaning set forth in the Recitals of the Agreement.

 

“Contract”
means any written or oral agreement, arrangement, commitment, contract, indenture, instrument, lease, obligation, plan, restriction,
understanding or undertaking of any kind or character, or other document to which any Person is a party or by which such Person
is bound

 

“Electronic Delivery” shall
have the meaning set forth in Section 7.5 of the Agreement.

 

“Governmental
Entity” shall mean any government or any agency, bureau, board, directorate, commission, court, department, official,
political subdivision, tribunal, or other instrumentality of any government, whether federal, local, domestic or foreign.

 

“Knowledge”
means the actual knowledge of the officers of a party, and knowledge that a reasonable person in such capacity should have after
due inquiry.

 

    6

     

    

 

“Law”
means any code, law, ordinance, regulation, reporting or licensing requirement, rule, or statute applicable to a Person or its
Assets, liabilities or business, including those promulgated, interpreted or enforced by any Governmental Entity.

 

“Lien”
means, with respect to any asset, any mortgage, lien, pledge, charge, security interests or encumbrance of any kind in respect
to such asset, other than any encumbrances created by the Parent.

 

“Material”
and “Materially” for purposes of this Agreement shall be determined in light of the facts and circumstances
of the matter in question; provided that any specific monetary amount stated in this Agreement shall determine Materiality in that
instance.

 

“Material
Adverse Effect” means, with respect to any Person or Party, a material adverse effect on the condition (financial
or otherwise), business, Assets, liabilities or the reported or reasonably anticipated future results or prospects of such Person
taken as a whole; provided, however, that any adverse change, event, development or effect arising from or relating to any of the
following shall not be taken into account in determining whether there has been a Material Adverse Effect: (a) general business
or economic conditions, (b) national or international political or social conditions, including the engagement by Hong Kong in
hostilities, whether or not pursuant to the declaration of a national emergency or war, or the occurrence of any military or terrorist
attack upon Hong Kong, or any of its territories, possessions, or diplomatic or consular offices or upon any military installation,
equipment or personnel of Hong Kong, (c) financial, banking, or securities markets (including any disruption thereof and any decline
in the price of any security or any market index), (d) changes in generally accepted accounting principles, (e) changes in laws,
rules, regulations, orders, or other binding directives issued by any Governmental Entity or (f) the taking of any action required
by this Agreement and the other agreements contemplated hereby.

 

“Order”
means any administrative decision or award, decree, injunction, judgment, order, quasi-judicial decision or award, ruling, or writ
of any Governmental Entity.

 

“Parent” shall have
the meaning set forth in the Preamble.

 

“Parent Board” shall have
the meaning set forth in Section 4.5 of the Agreement.

 

“Parent Ordinary Shares” shall have the meaning set forth
in the Recitals.

 

“Party” or “Parties” shall have the meaning set forth in the Preamble.

 

“Person”
means an individual, a corporation, a partnership, an association, a trust, a limited liability company or any other entity or
organization, including a government or political subdivision or any agency or instrumentality thereof.

 

“Shareholder” shall have the
meaning set forth in the Preamble.

 

“Tax”
or “Taxes” shall have the meaning set forth in Section 3.4 of the Agreement.

 

“Tax Return(s)”
shall have the meaning set forth in Section 3.4 of the Agreement.

 

“Transaction” shall have the meaning set forth
in the Recitals.

 

[Remainder of this page intentionally
left blank.]

 

    7

     

    

 

[SIGNATURE PAGE TO THE SHARE EXCHANGE AGREEMENT]

 

IN WITNESS WHEREOF, each of the Parties has
caused this Agreement to be executed as of the date first written above by their respective officers thereunto duly authorized.

 

	 	PARENT: Jialijia Group Corporation Limited
	 	 
	 	By: 	/s/ Jin Na 
	 	Name: Jin Na
	 	Title: Chief Executive Officer
	 	 
	 	COMPANY: Huazhongyun Group Co., Limited
	 	 
	 	By: 	/s/ Jin Na 
	 	Name: Jin Na
	 	Title: Sole Director and Shareholder
	 	 
	 	SHAREHOLDER: Jin Na
	 	 
	 	By: 	/s/ Jin Na             
	 	Name: Jin Na

 

    8

     

    

 

Exhibit A

 

Material
Assets

 

Not applicable

 

 

9

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