SEC Contract Filing

Filing Date: 2020-11-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>5
<FILENAME>f8k110320_ex10z3.htm
<DESCRIPTION>EXHIBIT 10.3 PURCHASE AGREEMENT BETWEEN AMERICAN BATTERY METALS CORPORATION AND TYSADCO PARTNERS LLC, DATED OCTOBER 23, 2020
<TEXT>
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<TITLE>Exhibit 10.3 Purchase Agreement between American Battery Metals Corporation and Tysadco Partners LLC, dated October 23, 2020</TITLE>
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<DIV style=margin-left:36pt;width:540pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=right style='font:10pt Times New Roman;margin:0'>Exhibit 10.3</P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'>PURCHASE AGREEMENT</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><B>THIS PURCHASE AGREEMENT</B> (the &#8220;<FONT style='border-bottom:1px solid #000000'>Agreement</FONT>&#8221;), dated as of October 23, 2020, is entered into by and between <B>AMERICAN BATTERY METALS CORPORATION</B>, a Nevada corporation (the &#8220;<FONT style='border-bottom:1px solid #000000'>Company</FONT>&#8221;), and <B>TYSADCO PARTNERS</B>, <B>LLC</B>, a Delaware limited liability company (the &#8220;<FONT style='border-bottom:1px solid #000000'>Investor</FONT>&#8221;).</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'>WHEREAS:</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>Subject to the terms and conditions set forth in this Agreement, the Company wishes to sell to the Investor, and the Investor wishes to purchase from the Company, up to Ten Million Dollars ($10,000,000) of the Company&#8217;s common stock, par value $0.0001 per share (the &#8220;<FONT style='border-bottom:1px solid #000000'>Common Stock</FONT>&#8221;). The shares of Common Stock to be purchased hereunder are referred to herein as the &#8220;<FONT style='border-bottom:1px solid #000000'>Purchase Shares</FONT>.&#8221;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>NOW THEREFORE, in consideration of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Company and the Investor hereby agree as follows:</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:18pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:-18pt'><B>1. </B></KBD><B>CERTAIN DEFINITIONS</B>.&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:-27pt;margin-left:45pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:18pt'>For purposes of this Agreement, the following terms shall have the following meanings:</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:45pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:72pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:-27pt'>(a)</KBD>&#8220;<FONT style='border-bottom:1px solid #000000'>Bankruptcy Law</FONT>&#8221; means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors.&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:-27pt;margin-left:72pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:72pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:-27pt'>(b)</KBD>&#8220;<FONT style='border-bottom:1px solid #000000'>Business Day</FONT>&#8221; means any day on which the Principal Market is open for trading, including any day on which the Principal Market is open for trading for a period of time less than the customary time.&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:-27pt;margin-left:72pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:72pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:-27pt'>(c)</KBD>&#8220;<FONT style='border-bottom:1px solid #000000'>Closing Sale Price</FONT>&#8221; means, for any security as of any date, the last closing sale price for such security on the Principal Market as reported by the Principal Market.&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:-27pt;margin-left:72pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:72pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:-27pt'>(d)</KBD>&#8220;<FONT style='border-bottom:1px solid #000000'>Closings</FONT>&#8221; means the settlement of the trades of the Purchase Share Amount associated with a Request (or sooner as directed by the Investor).&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:-27pt;margin-left:72pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:72pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:-27pt'>(e)</KBD>&#8220;<FONT style='border-bottom:1px solid #000000'>Commitment Amount</FONT>&#8221; means, initially, Ten Million Dollars ($10,000,000) in the aggregate, which amount shall be reduced by the Purchase Amount each time the Investor purchases shares of Common Stock pursuant to <FONT style='border-bottom:1px solid #000000'>Section 2</FONT> hereof.&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:-27pt;margin-left:72pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margi