SEC Contract Filing

Filing Date: 2020-11-27

Document Content:
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<TYPE>EX-10.3
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<FILENAME>ex10_3.htm
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>EXHIBIT 10.3</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt">BLACKSTAR ENTERPRISE
GROUP, INC.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt">4450 Arapahoe
Ave., Suite 100</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 10pt">Boulder, CO 80303</FONT></P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Equiniti Trust Company</FONT></P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Attention: Transfer Department</FONT></P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">3200 Cherry Creek Drive South</FONT></P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Denver, CO 80209</FONT></P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">November 20, 2020</FONT></P>

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<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Ladies and Gentlemen:</FONT></P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Blackstar Enterprise Group, Inc
(Issuer) a Delaware Corporation and Quick Capital LLC. (Investor) have entered into a Securities Purchase Agreement dated as of
November 16, 2020 (the &ldquo;Agreement&rdquo;) providing for the issuance of the 10% Convertible Promissory Note in the principal
amount of $33,275.00 (the &ldquo;Note&rdquo;).</FONT></P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">A copy of the Note is attached
hereto. You should familiarize yourself with your issuance and delivery obligations, as Transfer Agent, contained herein. The
shares to be issued are to be registered in the name of the registered holder of the securities submitted for conversion or exercise.</FONT></P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">You are hereby irrevocably authorized
and instructed to reserve 12,000,000 shares of common stock (&quot;Common Stock&quot;) of the Company for issuance upon full conversion
of the Note. The amount of Common Stock so reserved may be increased, from time to time, by written instructions of the Company
or the Investor so long as there are sufficient authorized and unissued shares of the Company not otherwise reserved available
to do so.</FONT></P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">So long as you have previously
received confirmation from the Company (or Investor&rsquo;s counsel) that the shares have been registered under the 1933 Act or
otherwise may be sold pursuant to Rule 144 without any restriction, and the Company or its counsel or Investor's counsel provides
an opinion of counsel to that effect in form, substance and scope customary for opinions of counsel in comparable transactions
(and satisfactory to the transfer agent), together with other documentation that may reasonably be requested, and the number of
shares to be issued are less than 9.99% of the total issued and outstanding common stock of the Company, such shares should be
issued either (i) electronically by crediting the account of a Prime Broker with the Depository Trust Company through its Deposit/Withdrawal
Agent Commission system, provided that the Company has been made FAST/DRS eligible by DTCC (DWAC), or (ii) in certificated form
without any legend which would restrict the transfer of the shares, and you should remove all stop-transfer instructions relating
to such shares (such shares shall be issued from the reserve, but in the event there are insufficient reserve shares of Common
Stock to accommodate a Conversion Notice, your firm and the Company agree that the Conversion Notice should be completed using
authorized but unissued shares of Common Stock that the Company has in its treasury that are not otherwise reserved). Equiniti
Trust Company is not responsible for the accuracy set forth in the Notice of C