SEC Contract Filing

Filing Date: 2019-02-25

Document Content:
<DOCUMENT>
<TYPE>EX-10.9
<SEQUENCE>11
<FILENAME>f8k022119ex10-9_oneworld.htm
<DESCRIPTION>CONVERTIBLE PROMISSORY NOTE BETWEEN OWP VENTURES, INC. AND THE SANGUINE GROUP, LLC
<TEXT>
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<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif; text-align: right"><B>Exhibit 10.9</B></P>

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

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THIS
CONVERTIBLE PROMISSORY NOTE AND THE UNDERLYING SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.
NO SALE OR DISPOSITION MAY BE EFFECTED EXCEPT IN COMPLIANCE WITH RULE 144 UNDER SAID ACT OR AN EFFECTIVE REGISTRATION STATEMENT
RELATED THERETO OR AN OPINION OF COUNSEL FOR THE HOLDER SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER
THE ACT OR RECEIPT OF A NO-ACTION LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION.</FONT></P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CONVERTIBLE
PROMISSORY NOTE</FONT></P>

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 <TD STYLE="width: 50%; padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<U>500,000</U></FONT></TD>
 <TD STYLE="width: 50%; padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January
 <U>18</U>, 2019</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
value received OWP VENTURES, INC.<FONT STYLE="font-variant: small-caps">,</FONT> a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;)
promises to pay to the order of <U>The Sanguine Group LLC. </U>(&ldquo;<B><I>Holder</I></B>&rdquo;) the principal sum of <U>FIVE
HUNDRED THOUSAND DOLLARS</U> (500,000.00), with interest on the outstanding principal amount at the rate of six percent (6%) per
annum, on January <U>18,</U> 2022 (the <B><I>Maturity Date</I></B>&rdquo;). Interest shall commence with the date hereof and shall
accrue on the outstanding principal amount until paid in full or this Note has been converted as provided below. Interest shall
be computed on the basis of a year of 365 days for the actual number of days elapsed.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1. </B>All
payments of interest and principal shall be in lawful money of the United States of America. All payments shall be applied
first to accrued interest, and thereafter to principal.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.&#9;</B>(a)&#9;In
the event that the Company consummates the closing of a public or private offering of its Equity Securities (as defined below)
resulting in gross proceeds to the Company of at least $500,000 (excluding the conversion this Note) (a <I>&ldquo;<B>Qualified
Financing</B>&rdquo;</I>) at any time prior to the repayment of this Note, then the outstanding principal balance of this Note,
together with any accrued and unpaid interest thereon, or any portion thereof, shall automatically be converted into such Equity
Securities at the lower of a conversion price (i) equal to eighty percent (80%) of the purchase price paid by the investors purchasing
the Equity Securities in the Qualified Financing, or (ii) reflecting a price per share of common stock of the Company of $0.424
per share, as equitably adjusted for any stock split or stock dividends effected after the date hereof (the &ldquo;<B><I>Fixed
Conversion Price</I></B>&rdquo;). For purposes of this Note, the term &ldquo;<B><I>Equity Securities</I></B>&rdquo; shall mean
(i) any shares of common stock or preferred stock of the Company, (ii) any security convertible or exchangeable for common stock
or preferred stock of the Company, and (iii)&nbsp;any other rights to purchase or otherwise acquire common stock or preferred
stock of the Company, in each case issued in a Qualified Financing following the date hereof, except that Equity Securities shall
not include any security granted, issued and/or s