SEC Contract Filing

Filing Date: 2021-01-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ltum_ex102.htm
<DESCRIPTION>REGISTRATION RIGHTS AGREEMENT
<TEXT>
<html><head><title>ltum_ex102.htm</title><!--Document created using EDGARMaster--></head><body style="TEXT-ALIGN: justify; FONT: 10pt times new roman; MARGIN-LEFT: 7%; MARGIN-RIGHT: 7%"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;"><strong>EXHIBIT 10.2</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>REGISTRATION RIGHTS AGREEMENT</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;"><strong>THIS REGISTRATION RIGHTS AGREEMENT</strong> (this &#8220;<u>Agreement</u>&#8221;), dated as of January 25, 2021, by and between <strong>LITHIUM CORPORATION</strong>, a Nevada corporation (the &#8220;<u>Company</u>&#8221;), and <strong>LINCOLN PARK CAPITAL FUND, LLC</strong>, an Illinois limited liability company (together with its permitted assigns, the &#8220;<u>Buyer</u>&#8221;). Capitalized terms used herein and not otherwise defined herein shall have the respective meanings set forth in the Purchase Agreement by and between the parties hereto, dated as of the date hereof (as amended, restated, supplemented or otherwise modified from time to time, the &#8220;<u>Purchase Agreement</u>&#8221;).</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>WHEREAS:</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">The Company has the right, upon the terms and subject to the conditions of the Purchase Agreement, to sell and issue to the Buyer up to Ten Million Three Hundred Thousand Dollars ($10,300,000) of Purchase Shares and to induce the Buyer to enter into the Purchase Agreement, the Company has agreed to provide certain registration rights under the Securities Act of 1933, as amended, and the rules and regulations thereunder (collectively, the &#8220;<u>Securities Act</u>&#8221;), and applicable state securities laws.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;"><strong>NOW, THEREFORE,</strong> in consideration of the promises and the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Buyer hereby agree as follows:</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">1. <u>DEFINITIONS</u>.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 90px; text-align:justify;">As used in this Agreement, the following terms shall have the following meanings:</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 90px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 90px; text-align:justify;">a. &#8220;<u>Investor</u>&#8221; means the Buyer, any transferee or assignee thereof to whom the Buyer assigns its rights under this Agreement in accordance with <u>Section 9</u> and who agrees to become bound by the provisions of this Agreement, and any transferee or assignee thereof to whom a transferee or assignee assigns its rights under this Agreement in accordance with <u>Section 9</u> and who agrees to become bound by the provisions of this Agreement.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 90px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 90px; text-align:justify;">b. &#8220;<u>Person</u>&#8221; means any individual or entity including but not limited to any corporation, a limited liability company, an association, a partnership, an organization, a business, an individual, a governmental or political subdivision thereof or a governmental agency.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 90px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 90px; text-align:justify;">c. &#8220;<u>Register</u>,&#8221; &#8220;<u>registered</u>,&#8221; and &#8220;<u>registration</u>&#8221; refer to a registration effected by preparing and filing one or more registration statements of the Company in compliance with the Securities Act and pursuant to Rule 415 under the Securities Act or any successor rule providing for offering securities on a continuous basis (&#8220;<u>Rule 415</u>&#8221;), and the declaration or ordering of effectiveness of such registration statement(s) by the United States Securities and Exchange Commission (the &#8220;<u>SEC</u>&#8221;).</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 90px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 90px; text-align:justify;">d. &#8220;<u>Registrable Securities</u>&#8221; means all of the Initial Purchase Shares and Commitment Shares, and the Purchase