SEC Contract Filing

Filing Date: 2025-01-27

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>ea022885801ex10-1_pmgc.htm
<DESCRIPTION>FORM OF WARRANT INDUCEMENT AGREEMENT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PMGC HOLDINGS INC.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">January 27, 2025</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Holder of Common Stock Purchase Warrants</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">Re:</TD><TD STYLE="text-align: justify"><U>Inducement Offer
 to Exercise Common Stock Purchase Warrants</U></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Holder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">PMGC Holdings Inc., a Delaware corporation formerly
known as Elevai Labs Inc. (the &ldquo;<U>Company</U>&rdquo;), is pleased to offer to you the opportunity to exercise all or a portion
of the Series A Common Stock Purchase Warrants issued to you on or about September 24, 2024, which are exercisable for a total of ___________
shares of common stock, par value $0.0001 per share (&ldquo;<U>Common Stock</U>&rdquo;), (with a current exercise price of $11.20 per
share) (the <U>Existing Warrants</U>&rdquo;), currently held by you (the &ldquo;<U>Holder</U>&rdquo;). The offer and resale of the Existing
Warrants and the shares of Common Stock underlying the Existing Warrants (&ldquo;<U>Warrant Shares</U>&rdquo;) have been registered pursuant
to a registration statement on Form S-1 (File No. 333- 281987) (the &ldquo;<U>Registration Statement</U>&rdquo;). The Registration Statement
is currently effective and, upon exercise of the Existing Warrants pursuant to this letter agreement, will be effective for the sale
of the Warrant Shares. Capitalized terms not otherwise defined herein shall have the meanings set forth in the Existing Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In consideration for exercising the number of
Existing Warrants held by you as set forth on the signature page hereto (the &ldquo;<U>Warrant Exercise</U>&rdquo;), the Company hereby
offers to (a) reduce the exercise price of all of the Existing Warrants, including any unexercised portion thereof, to $2.00 per share
(the &ldquo;<U>New Exercise Price</U>&rdquo;), such that all of the Existing Warrants will be exercised or exercisable in the future,
as the case may be, at the New Exercise Price and (b) issue you or your designee a new unregistered Common Stock Purchase Warrant (&ldquo;<U>New
Warrant</U>&rdquo; pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (&ldquo;<U>Securities Act</U>&rdquo;), to purchase
up to a number of shares of Common Stock equal to 100% of the number of Warrant Shares issued pursuant to the&nbsp;Warrant Exercise&nbsp;hereunder.
The shares of Common Stock issuable upon exercise of the New Warrant, are sometimes referred to as the &ldquo;<U>New Warrant Shares</U>&rdquo;.
The New Warrant shall be substantially in the form of <U>Exhibit A</U>, and shall be limited in its exercisability until such time as
the Company has received the approval of the stockholders of the Company as may be required by the applicable rules&nbsp;and regulations
of The Nasdaq Stock Market, LLC (or any successor entity) with respect to the issuance of shares of Common Stock underlying the New Warrant
(the &ldquo;<U>Shareholder Approval</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company will hold a special meeting of shareholders
no later than the 90th&nbsp;calendar date following the date hereof for the purpose of seeking the Shareholder Approval, with the recommendation
of the Company&rsquo;s Board of Directors that such proposal be approved, and the Company shall solicit proxies from its shareholders
in connection therewith in the same manner as all other management proposals in such proxy statement and all management-appointed proxyholders
shall vote their proxies in favor of such proposal at such meeting.&nbsp;&nbsp;If the Company does not obtain Shareholder Approval at
the first meeting, the Company shall call a meeting every 90 days thereafter to seek Shareholder Approval until the earlier of the date
on which Shareholder Approval is obtained or the New Warrants are no longer outstanding. Notwithstanding the foregoing, if the Company
is able to obtain the requisite Shareholder Approval using a written consent of its shareholders in lieu of a meeting, the Com