SEC Contract Filing

Filing Date: 2021-07-12

Document Content:
<DOCUMENT>
<TYPE>EX-10.60
<SEQUENCE>4
<FILENAME>ex10x60.htm
<DESCRIPTION>EXHIBIT 10.60 - CONVERTIBLE PROMISSORY NOTE DATED MARCH 8, 2021
<TEXT>
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<P STYLE="font: 10.5pt/95% Times New Roman, Times, Serif; margin: 0 0.2in 0 1.95pt; text-align: right; text-indent: 5.8pt">Exhibit 10.60</P>

<P STYLE="font: 10.5pt/95% Times New Roman, Times, Serif; margin: 0 0.2in 0 1.95pt; text-align: justify; text-indent: 5.8pt">&nbsp;</P>

<P STYLE="font: 10.5pt/95% Times New Roman, Times, Serif; margin: 0 0.2in 0 1.95pt; text-align: justify; text-indent: 5.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED
FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH MAY BE THE LEGAL COUNSEL OPINION (AS DEFINED IN THE PURCHASE AGREEMENT)),
IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144, RULE 144A,
REGULATION S, OR OTHER APPLICABLE EXEMPTION UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION
WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES. </B></FONT></P>

<P STYLE="font: 10.5pt/85% Times New Roman, Times, Serif; margin: 11.55pt 33.9pt 0 1.95pt; text-indent: 0.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Principal
Amount: $215,000.00 Issue Date: March 8, 2021 Actual Amount of Purchase Price: $200,000.00</B></FONT></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 16.5pt; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>CONVERTIBLE
PROMISSORY NOTE </B></FONT></P>

<P STYLE="font: 10.5pt/95% Times New Roman, Times, Serif; margin: 13.4pt 15.35pt 0 1.75pt; text-align: justify; text-indent: 36.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>FOR
VALUE RECEIVED</B>, <B>CANNABIS GLOBAL, INC.</B>, a Nevada corporation (hereinafter called the &#8220;Borrower&#8221;), hereby promises
to pay to the order of <B>BHP CAPITAL NY, INC.</B>, a New York corporation, or registered assigns (the &#8220;Holder&#8221;), in the
form of lawful money of the United States of America, the principal sum of up to $215,000.00 (the &#8220;Principal Amount&#8221;) (subject
to adjustment herein), with a purchase price of $200,000.00 (the &#8220;Consideration&#8221;) plus an original issue discount in the
amount of up to $15,000.00 (the &#8220;OID&#8221;), and to pay interest on the Principal Amount under this Note at the rate of ten percent
(10%) (the &#8220;Interest Rate&#8221;) per annum guaranteed and fully earned from the date that the amount of Consideration is fully
funded in accordance with the terms of this Note until the same becomes due and payable, whether at maturity or upon acceleration or
by prepayment or otherwise, as further provided herein. The Holder shall pay the Consideration on the day of the full execution of the
Note and all related transactional documents related to this Note, and the outstanding principal amount under this Note shall be $215,000.00
(which includes the OID). The maturity date for this Note shall be twelve (12) months from the effective date of the Holder&#8217;s payment
of the Consideration (&#8220;Maturity Date&#8221;), and is the date upon which the principal sum as well as any accrued and unpaid interest
and other fees shall be due and payable. Notwithstanding any other provision of this Note or any related transaction documents, Borrower
may prepay this Note only pursuant to Section 1.9 hereof.</FONT></P>

<P STYLE="font: 10.5pt/96% Times New Roman, Times, Serif; margin: 12.35pt 15.7pt 0 1.75pt; text-align: justify; text-indent: 36.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">It
is further acknowledged and agreed that the Principal Amount owed by Borrower under this Note shall be increased by the amount of all
expenses up to a maximum of $250 incurred by the Holder relating to any conversion of this Note into shares of Common Stock. All such
expenses shall be deemed added to the Principal Amount hereunder to the extent such expenses are paid by the Holder.</FONT></P>

<P STYLE="font: 10.5pt/95% Times New Roman, Times, Serif; margin: 13pt 15.3pt 0 1.95pt; text-align: justify; text-indent: 36.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Interest
shall commence accruing on the date that the Note is fully funded and shall be computed on the basis of a 365-day year and the actual
number of days elapsed. Any Principal Amount or interest on this Note which is not paid when due shall bear interest at the rate the
lesser of (a) twenty-four percent (24%) per annum from the due date thereof until the same is paid (&#8220;Default Interest&#8221;);
or (b) the maximum rate allowed by law.</FONT></P>

<P STYLE="font: 10.5pt/95% Times New Roman, Times, Serif; margin: 13.15pt 15.6pt 0 2pt; text-align: justify; text-indent: 35.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">All
payments due hereunder (to the extent not converted into shares of common stock of the Borrower (the &#8220;Common Stock&#8221;) in accordance
with the terms hereof) shall be made in lawful money of the United States of America. All payments shall be made at such address as the
Holder shall hereafter give to the Borrower by written notice made in accordance with the provisions of this Note. Whenever any amount
expressed to be due by the