SEC Contract Filing

Filing Date: 2017-05-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ex10-2.htm
<DESCRIPTION>WARRANT
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><A HREF="turv-8k_050217.htm">TWO RIVERS WATER &amp; FARMING COMPANY 8-K</A></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXHIBIT 10.2</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE OF
THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THIS WARRANT AND THE COMMON STOCK ISSUABLE
UPON EXERCISE OF THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT AS TO THIS WARRANT UNDER SUCH ACT AND ANY APPLICABLE STATE SECURITIES LAW OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY
TO THE ISSUER THAT SUCH REGISTRATION IS NOT REQUIRED.&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">TWO RIVERS WATER &amp; FARMING COMPANY</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">WARRANT TO PURCHASE SHARES OF COMMON STOCK&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Issuance</U>. In consideration of good and valuable consideration as set forth in the Purchase Agreement (defined below),
including without limitation the Purchase Price (as defined in the Purchase Agreement), the receipt and sufficiency of which are
hereby acknowledged by <FONT STYLE="font-variant: small-caps">Two Rivers Water &amp; Farming Company</FONT>, a Colorado corporation
(the &ldquo;<B>Company</B>&rdquo;), <FONT STYLE="font-variant: small-caps">Black Mountain Equities, Inc., </FONT>its successors
and/or registered assigns (the &ldquo;<B>Holder</B>&rdquo;), is hereby granted the right to purchase at any time on or after the
Issue Date (as defined below) until the date which is the last calendar day of the month in which the fifth anniversary of the
Issue Date occurs (the &ldquo;<B>Expiration Date</B>&rdquo;), 440,000 fully paid and nonassessable shares (the &ldquo;<B>Warrant
Shares</B>&rdquo;) of the Company&rsquo;s common stock, par value $0.001 per share (the &ldquo;<B>Common Stock</B>&rdquo;), as
such number of Warrant Shares may be adjusted from time to time pursuant to the terms and conditions of this Warrant to Purchase
Shares of Common Stock (this &ldquo;<B>Warrant</B>&rdquo;). This Warrant is being issued pursuant to the terms of that certain
Securities Purchase Agreement dated April 26, 2017, to which the Company and the Holder are parties (as the same may be amended
from time to time, the &ldquo;<B>Purchase Agreement</B>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unless otherwise indicated
herein, capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Purchase Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Warrant was originally
issued to the Holder on April 26, 2017 (the &ldquo;<B>Issue Date</B>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Exercise of Warrant</U>.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>General</U>.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Warrant is exercisable in whole or in part at any time and from time to time commencing on the Issu