SEC Contract Filing

Filing Date: 2018-09-28

Document Content:
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<TYPE>EX-10
<SEQUENCE>4
<FILENAME>ex_10_3warrantagreementvedga.htm
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<P style="margin:0px; font-size:11pt" align=justify>NEITHER THIS SECURITY NOR THE SECURITIES AS TO WHICH THIS SECURITY MAY BE EXERCISED HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>SECURITIES ACT<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. &nbsp;THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.</P>
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<P style="margin:0px; font-size:11pt" align=center><B>COMMON STOCK PURCHASE WARRANT</B></P>
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<P style="margin:0px; font-size:11pt" align=center><B>SEARS OIL AND GAS CORPORATION</B></P>
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<P style="margin:0px; font-size:11pt" align=justify>Warrant Shares: 42,857</P>
<P style="margin:0px; font-size:11pt" align=justify>Date of Issuance: &nbsp;September 24, 2018 (<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font><U>Issuance Date</U><font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>)</P>
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<P style="margin:0px; text-indent:48px; font-size:11pt" align=justify>This COMMON STOCK PURCHASE WARRANT (the <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font><U>Warrant</U><font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>) certifies that, for value received (in connection with the issuance of the $300,000.00 senior secured convertible promissory note to the Holder (as defined below) of even date) (the <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>Note<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>), Auctus Fund, LLC, a Delaware limited liability company (including any permitted and registered assigns,&#160;the&#160;<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font><U>Holder</U><font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>), is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date of issuance hereof, to purchase from Sears Oil and Gas Corporation, a Nevada corporation (the&#160;<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font><U>Company</U><font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>), up to 42,857 shares of Common Stock (as defined below) (the <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font><U>Warrant Shares</U><font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>) (whereby such number may be adjusted from time to time pursuant to the terms and conditions of this Warrant)<FONT style="font-size:12pt"> </FONT>at the Exercise Price per share then in effect. &nbsp;This Warrant is issued by the Company as of the date hereof in connection with that certain securities purchase agreement dated September 24, 2018, by and among the Company and the Holder (the <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font><U>Purchase Agreement</U><font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>).</P>
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<P style="margin:0px; text-indent:48px; font-size:11pt" align=justify>Capitalized terms used in this Warrant shall have the meanings set forth in the Purchase Agreement unless otherwise defined in the body of this Warrant or in Section 13 below. &nbsp;For purposes of this Warrant, the term <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font><U>Exercise Price</U><font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font> shall mean $3.50, subject to adjustment as provided herein (including but not limited to cashless exercise), and the term&#160;<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font><U>Exercise Period</U><font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font> shall mean the period commencing on the Issuance Date and ending on 5:00 p.m. eastern standard time on the five-year anniversary thereof.</P>
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<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; font-size:11pt; float:left">1.</P>
<P style="margin:0px; text-indent:-2px; font-size:11pt" align=justify><U>EXERCISE OF WARRANT</U>.</P>
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<P style="margin-top:0px; margin-bottom:-2px; text-indent:96px; width:144px; font-size:11pt; float:left">(a)</P>
<P style="margin:0px; text-indent:-2px; font-size:11pt" align=justify><I>Mechanics of Exercise</I>. &nbsp;Subject to the terms and conditions hereof, the rights represente