SEC Contract Filing

Filing Date: 2023-06-02

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>axim_ex10z1.htm
<DESCRIPTION>EQUITY PURCHASE AGREEMENT, DATED JUNE 1, 2023, BY AND BETWEEN THE COMPANY AND INVESTOR.
<TEXT>
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<DIV style=margin-left:72pt;width:468pt><P style='font:11pt Times New Roman;margin:0'>Ex. &nbsp;10.1</P>
<HR style='border:0;height:0;width:0;margin:14pt 0 0 0'><P align=center style='font:12pt Times New Roman;margin:0'>&#160;</P>
<P align=center style='font:12pt Times New Roman;margin:0'><B>EQUITY PURCHASE AGREEMENT</B></P>
<P align=center style='font:12pt Times New Roman;margin:0'><B>&#160;</B></P>
<P style='font:12pt Times New Roman;margin:0'>This equity purchase agreement is entered into as of June 1, 2023 (this &#8220;Agreement&#8221;), by and between AXIM Biotechnologies, Inc., a Nevada corporation (the &#8220;Company&#8221;), and Cross &amp; Company, a Nevada corporation (the &#8220;Investor&#8221;).&#160;</P>
<P style='font:12pt Times New Roman;margin:0'>&#160;</P>
<P style='font:12pt Times New Roman;margin:0'><B>WHEREAS</B>, the parties desire that, upon the terms and subject to the conditions contained herein, the Company shall issue and sell to the Investor, from time to time as provided herein, and the Investor shall purchase up to Twenty Million Dollars ($20,000,000.00) worth of the Company&#8217;s Common Stock (as defined below);</P>
<P style='font:12pt Times New Roman;margin:0;text-indent:36pt'>&#160;</P>
<P style='font:12pt Times New Roman;margin:0'><B>NOW, THEREFORE</B>, the parties hereto agree as follows:</P>
<P align=center style='font:12pt Times New Roman;margin:0'>&#160;</P>
<P align=center style='font:12pt Times New Roman;margin:0'><B>ARTICLE I</B></P>
<P align=center style='font:12pt Times New Roman;margin:0'><B>CERTAIN DEFINITIONS</B></P>
<P align=center style='font:12pt Times New Roman;margin:0'>&#160;</P>
<P style='font:12pt Times New Roman;margin:0'>DEFINED TERMS. As used in this Agreement, the following terms shall have the following meanings specified or indicated (such meanings to be equally applicable to both the singular and plural forms of the terms defined):</P>
<P style='font:12pt Times New Roman;margin:0;text-indent:36pt'>&#160;</P>
<P style='font:12pt Times New Roman;margin:0'>&#8220;Agreement&#8221; shall have the meaning specified in the preamble hereof.</P>
<P style='font:12pt Times New Roman;margin:0;text-indent:36pt'>&#160;</P>
<P style='font:12pt Times New Roman;margin:0'>&#8220;Average Daily Trading Volume&#8221; shall mean the average trading volume of the Company&#8217;s Common Stock in the ten (10) Trading Days immediately preceding the respective Put Date.</P>
<P style='font:12pt Times New Roman;margin:0;text-indent:36pt'>&#160;</P>
<P style='font:12pt Times New Roman;margin:0'>&#8220;Bankruptcy Law&#8221; means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors.</P>
<P style='font:12pt Times New Roman;margin:0;text-indent:36pt'>&#160;</P>
<P style='font:12pt Times New Roman;margin:0'>&#8220;Claim Notice&#8221; shall have the meaning specified in Section 9.3(a).</P>
<P style='font:12pt Times New Roman;margin:0;text-indent:36pt'>&#160;</P>
<P style='font:12pt Times New Roman;margin:0'>&#8220;Clearing Costs&#8221; shall mean all of the Investor&#8217;s broker and Transfer Agent fees.</P>
<P style='font:12pt Times New Roman;margin:0;text-indent:36pt'>&#160;</P>
<P style='font:12pt Times New Roman;margin:0'>&#8220;Clearing Date&#8221; shall be the date on which the Investor receives the Put Shares as DWAC Shares in its brokerage account.</P>
<P style='font:12pt Times New Roman;margin:0;text-indent:36pt'>&#160;</P>
<P style='font:12pt Times New Roman;margin:0'>&#8220;Closing&#8221; shall mean one of the closings of a purchase and sale of shares of Common Stock pursuant to Section 2.3.</P>
<P style='font:12pt Times New Roman;margin:0;text-indent:36pt'>&#160;</P>
<P style='font:12pt Times New Roman;margin:0'>&#8220;Closing Certificate&#8221; shall mean the closing certificate of the Company in the form of&#160;Exhibit B&#160;hereto.</P>
<P style='font:12pt Times New Roman;margin:0;text-indent:36pt'>&#160;</P>
<P style='font:12pt Times New Roman;margin:0'>&#8220;Closing Date&#8221; shall mean the date of any Closing hereunder.</P>
<P style='font:12pt Times New Roman;margin:0;text-indent:36pt'>&#160;</P>
<P style='font:12pt Times New Roman;margin:0'>&#8220;Commitment Period&#8221; shall mean the period commencing on the Execution Date, and ending on the earlier of (i)&#160;the date on which the Investor shall have purchased Put Shares pursuant to this </P>
<HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P style=line-height:0;margin:0></P>
<P style='font:12pt Times New Roman;margin:0'>Agreement equal to the Maximum Commitment Amount, (ii)&#160;three years from the Execution Date, or (iii)&#160;written notice of termination by the Company to the Investor (which shall not occur at any time that the Investor holds any of the Put Shares).</P>
<P style='font:12pt Times New Roman;margin:0;text-indent:36pt'>&#160;</P>
<P style='font:12pt Times New Roman;margin:0'>&#8220;Common Stock&#8221; shall mean the Company&#8217;s common stock, par value $0.0001 per share, and any shares of any other class of common stock whether now or hereafter authorized, having the right to participate in the distribution of dividends (as and when declared) and assets (upon liquidation of the Company).</P>
<P style='font:12pt Times New Roman;margin:0;text-indent:36pt'>&#160;</P>
<P style='font:12pt Times New Roman;margin:0'>&#8220;Common Stock Equivalents&#8221; means any securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, war