SEC Contract Filing

Filing Date: 2018-05-21

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<P STYLE="margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>This Note,
and the securities issuable upon the conversion of this Note, have not been registered under the Securities Act of 1933, as amended
(the &quot;Act&quot;) or applicable state law and may not be sold, transferred or otherwise disposed of unless registered under
the Act and any applicable state act or unless the Company receives an opinion from counsel for the holder and is satisfied that
this Note and the underlying securities may be transferred without registration under the Act.</B></FONT></P>

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

<P STYLE="margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>CONVERTIBLE
NOTE &ndash; SERIES N $3,000,000.00 - $0.08 CONVERSION</U></B></FONT></P>

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<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuance Date: April 30, 2018</FONT></P>

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<P STYLE="margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FOR VALUE
RECEIVED, ETHEMA HEALTH COPORATION</B>, a Colorado corporation (the &quot;Company&quot;), hereby promises to pay to the order
of <U>&#9;</U></FONT></P>

<P STYLE="margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">or any subsequent
holder of this Note (the &quot;Payee&quot;), at <U>&#9;</U> or at such other place as may be designated by the Payee from time
to time by notice to the Company, the principal sum of USD$<U>&#9;&#9;</U>. Such principal may be converted into Company common
stock at the Conversion Price as described in Section 4(b) below. Such principal shall be paid in accordance with the terms of
Section 1 below, to such account, as the Payee shall direct.</FONT></P>

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<P STYLE="margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PAYMENTS.</B></FONT></P>

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<P STYLE="margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
unpaid principal amount and any unpaid interest amount of this Note may be converted into Rule 144 Restricted Common Stock of
the Company as provided herein on or before October 31, 2018 (the &ldquo;Maturity Date&rdquo;) at the option of the holder.</FONT></P>

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<P STYLE="margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest
on the unpaid principal balance of this Note at the rate of SIX percent (6%) per annum shall accrue from the date hereof and will
be payable on maturity.</FONT></P>

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

<P STYLE="margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that any payment of principal and/or interest hereunder becomes due and payable on a Saturday, Sunday or other day on
which commercial banks in the Province of Ontario are authorized or required by law to close, then the maturity thereof shall
be extended to the next succeeding &ldquo;Business Day&rdquo; (defined as any days on which national banks in Canada are open
for business); and during any such extension, interest on principal amounts payable shall accrue and be payable at the applicable
rate.</FONT></P>

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<P STYLE="margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RESERVED</B></FONT></P>

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<P STYLE="margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3. <I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I>PREPAYMENT
OF NOTE.</B></FONT></P>

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

<P STYLE="margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company
shall have the right to prepay the indebtedness created herein at any time prior to the Maturity Date, subject only to the Payees
option to conv