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Aurora Cannabis : COMPUTERSHARE TRUST COMPANY OF CANADA WARRANT INDENTURE – Form 6-K

cannalegal by cannalegal
November 28, 2022
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COMPUTERSHARE TRUST COMPANY OF CANADA

WARRANT INDENTURE

Offering for the Challenge of

as much as 11,500,000 Warrants

November 16, 2020

TABLE OF CONTENTS

Web page

ARTICLE 1 INTERPRETATION

2

1.1   Definitions

2

1.2   Phrases Importing the Singular

6

1.3   Interpretation not Affected by Headings

6

1.4   Day not a Enterprise Day

7

1.5   Time of the Essence

7

1.6   Governing Regulation

7

1.7   Which means of “excellent” for Sure Functions

7

1.8   Foreign money

7

1.9   Termination

7

1.10  Calculations

7

ARTICLE 2 APPOINTMENT OF WARRANT AGENT

8

2.1   Appointment of Warrant Agent

8

ARTICLE 3 ISSUE OF WARRANTS

8

3.1   Challenge of Warrants

8

3.2   Type and Phrases of Warrants

8

3.3   Signing of Warrant Certificates

9

3.4   Authentication or Certification by the Warrant Agent

9

3.5   Warrantholder not a Shareholder, and so forth.

10

3.6   Challenge in Substitution for Misplaced Warrant Certificates

10

3.7   Warrants to Rank Pari Passu

10

3.8   Registration and Switch of Warrants

11

3.9   Registers Open for Inspection

12

3.10  Change of Warrant Certificates

12

3.11  Possession of Warrants

12

3.12  E-book-Based mostly System Warrants

12

3.13  Adjustment of Change Foundation

14

3.14  Guidelines Relating to Calculation of Adjustment of Change Foundation

18

3.15  Postponement of Subscription

19

3.16  Discover of Adjustment

20

3.17  No Motion after Discover

20

3.18  Elective Purchases by the Firm

21

3.19  Safety of Warrant Agent

21

ARTICLE 4 EXERCISE OF WARRANTS

21

4.1   Technique of Train of Warrants

21

4.2   Cashless Train

23

4.3   No Fractional Warrant Shares

24

4.4   Impact of Train of Warrants

24

4.5   Cancellation of Warrants

25

4.6   Subscription for lower than Entitlement

25

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TABLE OF CONTENTS

(continued)

Web page

4.7   Expiration of Warrant

25

4.8   U.S. Securities Regulation Issues

25

4.9   Securities Restrictions

26

ARTICLE 5 COVENANTS

28

5.1   Basic Covenants of the Firm

28

5.2   Hashish Compliance

29

5.3   Securities Qualification Necessities

32

5.4   Warrant Agent’s Remuneration and Bills

32

5.5   Efficiency of Covenants by Warrant Agent

32

ARTICLE 6 ENFORCEMENT

32

6.1   Fits by Warrantholders

32

6.2   Limitation of Legal responsibility

33

ARTICLE 7 MEETINGS OF WARRANTHOLDERS

33

7.1   Proper to Convene Conferences

33

7.2   Discover

33

7.3   Chairman

33

7.4   Quorum

34

7.5   Energy to Adjourn

34

7.6   Present of Fingers

34

7.7   Ballot and Voting

34

7.8   Laws

35

7.9   Firm, Warrant Agent and Counsel could also be Represented

35

7.10  Powers Exercisable by Extraordinary Decision

35

7.11  Which means of “Extraordinary Decision”

36

7.12  Powers Cumulative

37

7.13  Minutes

37

7.14  Devices in Writing

37

7.15  Binding Impact of Resolutions

38

7.16  Holdings by the Firm or Subsidiaries of the Firm Disregarded

38

ARTICLE 8 SUPPLEMENTAL INDENTURES AND SUCCESSOR COMPANIES

38

8.1   Provision for Supplemental Indentures for Sure Functions

38

8.2   Successor Corporations

39

ARTICLE 9 CONCERNING THE WARRANT AGENT

39

9.1   Indenture Laws

39

9.2   Rights and Duties of Warrant Agent

40

9.3   Proof, Consultants and Advisers

41

9.4   Securities, Paperwork and Monies Held by Warrant Agent

42

9.5   Actions by Warrant Agent to Defend Pursuits

43

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TABLE OF CONTENTS

(continued)

Web page

9.6   Warrant Agent not Required to Give Safety

43

9.7   Safety of Warrant Agent

43

9.8   Alternative of Warrant Agent

45

9.9   Acceptance of Duties and Obligations

46

9.10  Warrant Agent to not be Appointed Receiver

46

9.11  Authorization to Stick with it Enterprise

46

9.12  Securities Change Fee Certification

46

ARTICLE 10 GENERAL

46

10.1  Discover to the Firm and the Warrant Agent

46

10.2  Discover to the Warrantholders

48

10.3  Privateness

48

10.4  Third Celebration Pursuits

49

10.5  Discretion of Administrators

49

10.6  Satisfaction and Discharge of Indenture

49

10.7  Provisions of Indenture and Warrants for the Sole Advantage of Events and Warrantholders

49

10.8  Possession of Warrants

50

10.9  Indenture to Prevail

50

10.10  Project

50

10.11  Counterparts and Formal Date

50

10.12  Pressure Majeure

50

10.13  Severability

50

10.14  Rights of Rescission and Withdrawal for Holders

51

SCHEDULE A FORM OF WARRANT CERTIFICATE

1

– iii –

THIS WARRANT INDENTURE dated as of November 16, 2020

B E T W E E N:

AURORA CANNABIS INC. an organization included below the legal guidelines of the Province of British Columbia

(hereinafter referred to as the “Firm“)

A N D

COMPUTERSHARE TRUST COMPANY OF CANADA a belief firm continued below the legal guidelines of Canada and registered to hold on enterprise within the Province of British Columbia

(hereinafter referred to as the “Warrant Agent“)

RECITALS

WHEREAS:

A.

The Firm is proposing to situation as much as 11,500,000 Warrants pursuant to this Indenture;

B.

Every complete Warrant entitles the holder thereof to buy, topic to adjustment in sure occasions, one Warrant Share at a worth of $9.00 at any time prior to five:00 p.m. (Toronto time) on March 16, 2024, topic to earlier expiry in accordance with this Indenture;

C.

For such function the Firm deems it essential to create and situation Warrants and Warrant Certificates to be constituted and issued within the method hereinafter set forth;

D.

The Firm is duly licensed to create and situation the Warrants to be issued as herein offered;

E.

All issues vital have been finished and carried out by the Firm to make the Warrants, when Authenticated or licensed by the Warrant Agent and issued as offered on this Indenture, authorized, legitimate and binding obligations of the Firm which might be entitled to the advantages of and topic to the phrases of this Indenture;

F.

The foregoing recitals are made as statements of reality by the Firm and never by the Warrant Agent;

G.

The Warrant Agent has agreed to enter into this Indenture and to carry all rights, pursuits and advantages contained herein for and on behalf of these individuals who develop into holders of Warrants issued pursuant to this Indenture occasionally;

NOW THEREFORE THIS INDENTURE WITNESSES that for good and precious consideration mutually given and acquired, the receipt and sufficiency of that are hereby acknowledged, it’s hereby agreed and declared as follows:

ARTICLE 1

INTERPRETATION

On this Indenture, except there’s something in the subject material or context inconsistent therewith:

“Relevant Laws” means the provisions of the statutes of Canada and its provinces and the laws below these statutes referring to warrant indentures and/or the rights, duties or obligations of issuers and warrant brokers below warrant indentures as are occasionally in power and relevant to this Indenture;

“Accredited Financial institution” has the which means ascribed to that time period in part 9.4;

“Attribution Events” has the which means ascribed to that time period in part 4.9;

“Authenticated” means with respect to the issuance of an Uncertificated Warrant, that each one Inside Procedures required to be accomplished by the Warrant Agent have been so accomplished such that the particulars of such Uncertificated Warrant are entered within the register of Warrantholders, and “Authenticate“, “Authenticating” and “Authentication” have the suitable correlative meanings;

“Helpful Proprietor” means an individual that has a useful curiosity in a Warrant;

“Helpful Possession Limitation” has the which means ascribed to that time period in part 4.9;

“E-book-Based mostly System” means the book-based securities system administered by CDS in accordance with its working guidelines and procedures in power occasionally;

“Enterprise Day” means a day that’s not a Saturday, Sunday, or a day on which banks are closed or which is a civic or statutory vacation within the Metropolis of Toronto, Ontario and the Metropolis of Vancouver, British Columbia;

“Capital Reorganization” has the which means ascribed to that time period in subsection 3.13(4);

“Hashish Permits” means all permits or licences of any nature held by the Firm or any subsidiary of the Firm, as of the date of this Indenture or thereafter, below Canadian federal, provincial and territorial regulation, and laws made thereunder, which might be vital or fascinating to lawfully conduct or keep, instantly or not directly, its cannabis-related actions and pursuits;

“CDS” means CDS Clearing and Depository Companies Inc. and its successors in curiosity;

“CDS Participant” means an individual acknowledged by CDS as a participant;

“Widespread Share Reorganization” has the which means ascribed to that time period in subsection 3.13(1);

“Widespread Shares” means the frequent shares within the capital of the Firm;

– 2 –

“Firm” means Aurora Hashish Inc., an organization included below the legal guidelines of the Province of British Columbia, and its lawful successors occasionally;

“Firm’s Auditors” means the chartered (skilled) accountant or agency of chartered (skilled) accountants duly appointed as auditor or auditors of the Firm occasionally;

“Affirmation” signifies that CDS shall ship to the Warrant Agent affirmation of its intention to train Warrants in a fashion acceptable to the Warrant Agent, together with by digital means by way of the E-book-Based mostly System;

“counsel” means a barrister and solicitor or lawyer or a agency of barristers and solicitors or attorneys (who could also be counsel to the Firm), in each circumstances acceptable to the Warrant Agent;

“Present Market Value” means, at any date, the amount weighted common worth per share at which the Widespread Shares have traded:

(ii)

if the Widespread Shares should not listed on the TSX, on any inventory trade upon which the Widespread Shares are listed as could also be chosen for this function by the board of administrators of the Firm, performing moderately; or

(iii)

if the Widespread Shares should not listed on any inventory trade, on any over-the-counter market on which the Widespread Shares are buying and selling, as could also be chosen for this function by the board of administrators of the Firm, performing moderately (offered that, if such buying and selling worth is in a foreign money aside from United States {dollars}, the amount weighted common worth in such foreign money can be transformed into United States {dollars} utilizing the relevant every day trade price(s) printed by the Financial institution of Canada on the final Buying and selling Day through the relevant measurement interval or, if no such price was printed on such date, the following previous every day trade price(s) printed by the Financial institution of Canada; and offered, additional, that if the Financial institution of Canada not publishes such charges, the amount weighted common worth can be transformed into United States {dollars} utilizing the then relevant trade price as decided by the administrators of the Firm);

through the 5 (5) consecutive buying and selling days instantly earlier than such date and the weighted common worth shall be decided by dividing the mixture sale worth of all Widespread Shares offered in board tons on the trade or market, because the case could also be, through the 5 (5) consecutive buying and selling days by the variety of Widespread Shares offered or, if not traded on any acknowledged trade or market, as decided by the administrators of the Firm, performing moderately;

“director” means a member of the board of administrators of the Firm in the intervening time, and except in any other case specified herein, reference to “motion by the board of administrators” means motion by the board of administrators of the Firm as a board or, each time duly empowered, motion by a committee of the board;

“Fairness Shares” means the Widespread Shares and any shares of another class or collection of the Firm which can occasionally be licensed for situation if by their phrases such shares confer on the holders thereof the precise to take part within the distribution of belongings upon the voluntary or involuntary liquidation, dissolution or winding up of the Firm past a hard and fast sum or a hard and fast sum plus accrued dividends;

– 3 –

“Change Foundation” means, at any time, the variety of Warrant Shares or different lessons of shares or securities which a Warrantholder is entitled to obtain upon the train of the rights hooked up to the Warrants pursuant to the phrases of this Indenture, because the quantity could also be adjusted pursuant to part 3.13 hereof, such quantity being equal to at least one Warrant Share per Warrant as of the date hereof;

“Train Date” with respect to any Warrant means the date on which such Warrant is duly surrendered for train in accordance with the provisions of Article 4 hereof;

“Train Value” means $9.00 for every Warrant Share, topic to adjustment in accordance with the provisions of this Indenture;

“extraordinary decision” has the which means ascribed to that time period in sections 7.11 and seven.14;

“Governmental Authority” or “Governmental Authorities” means any of the governments of Canada, america of America, another nation or any political subdivision thereof, whether or not provincial, state, territorial or native, and any company, authority, instrumentality, regulatory physique, courtroom, central financial institution, fiscal or financial authority or different authority regulating monetary establishments, and another entity exercising govt, legislative, judicial, taxing, regulatory or administrative powers or features of or pertaining to authorities;

“Inside Procedures” means in respect of the making of any a number of entries to, modifications in or deletions of any a number of entries within the register of Warrantholders at any time (together with with out limitation, unique issuance or registration of switch of possession) the minimal variety of the Warrant Agent’s inside procedures customary at such time for the entry, change or deletion made to be full below the working procedures adopted on the time by the Warrant Agent;

“NCI” has the which means ascribed to that time period in subsection 3.12(1);

“individual” means a person, an organization, a partnership, a syndicate, a trustee or any unincorporated group and phrases importing individuals which might be supposed to have a equally prolonged which means;

“Registration Assertion” means a shelf registration assertion filed with the SEC below the U.S. Securities Act registering the Warrant Shares issuable upon train of the Warrants;

“Rights Providing” has the which means ascribed to that time period in subsection 3.13(2);

“Rights Providing Value” has the which means ascribed to that time period in subsection 3.14(9);

“SEC” means america Securities and Change Fee;

“Securities Legal guidelines” means, collectively, the relevant securities legal guidelines of every of the provinces and territories of Canada, america and every of the states of america, as relevant, and the respective laws made and types prescribed thereunder along with all relevant printed guidelines, coverage statements, notices and blanket orders and rulings of the securities commissions or related regulatory authorities in every of the provinces and territories of Canada;

– 4 –

“shareholder” means an proprietor of report of a number of Widespread Shares or shares of another class or collection of the Firm;

“Particular Distribution” has the which means ascribed to that time period in subsection 3.13(3);

“Subsidiary” means an organization, a majority of the excellent voting shares of that are owned, instantly or not directly, by the Firm or by a number of subsidiaries of the Firm and, as used on this definition, “voting shares” means shares of a category or lessons ordinarily entitled to vote for the election of the vast majority of the administrators of an organization no matter whether or not or not shares of another class or lessons shall have or may need the precise to vote for administrators by motive of the occurring of any contingency;

“successor firm” has the which means ascribed to that time period in part 8.2;

“this Indenture“, “herein“, “hereby” and related expressions imply or check with this frequent share buy warrant indenture and any indenture, deed or instrument supplemental or ancillary hereto; and the expressions “Article“, “part“, “subsection” or “paragraph” adopted by a quantity or letter imply and check with the required Article, part, subsection or paragraph of this Indenture;

“Time of Expiry” means 5:00 p.m. (Toronto time) on March 16, 2024;

“buying and selling day” means a day on which the TSX (or such different trade on which the Widespread Shares are listed and which types the first buying and selling marketplace for such shares) is open for buying and selling, and if the Widespread Shares should not listed on a inventory trade, a day on which an over-the-counter market the place such shares are traded is open for enterprise;

“transaction instruction” means a written order signed by the holder or CDS, entitled to request that a number of actions be taken, or such different kind as could also be moderately acceptable to the Warrant Agent, requesting a number of such actions to be taken in respect of an Uncertificated Warrant;

“Switch Agent” means the switch agent or brokers in the intervening time for the Widespread Shares;

“TSX” means the Toronto Inventory Change;

“U.S. Change Act” means america Securities Change Act of 1934, as amended and the principles and laws promulgated thereunder;

“U.S. Securities Act” means america Securities Act of 1933, as amended and the principles and laws promulgated thereunder;

“Uncertificated Warrant” means any Warrant which is issued below the E-book-Based mostly System;

“United States“or “U.S.“means america of America, its territories and possessions, any state of america, and the District of Columbia;

– 5 –

“Warrant Agent” means Computershare Belief Firm of Canada, a belief firm present below the legal guidelines of Canada, or any lawful successor thereto together with by way of the operation of part 9.8;

“Warrant Certificates” means the certificates representing Warrants considerably within the kind hooked up as Schedule A hereto or such different kind as could also be accredited by the Firm and the Warrant Agent;

“Warrant Shares” means the Widespread Shares or different securities or property issuable upon the train of the Warrants on account of any adjustment to the subscription rights pursuant to part 3.13 hereof;

“Warrantholders” or “holders” means the individuals whose names are entered in the intervening time within the register maintained pursuant to part 3.8;

“Warrantholders’ Request” means an instrument, signed in a number of counterparts by Warrantholders representing, within the mixture, not less than 25% of the mixture variety of Warrants then excellent, which requests the Warrant Agent or the Firm to take some motion or continuing specified therein;

“Warrants” means the frequent share buy warrants of the Firm issued and Authenticated hereunder as Uncertificated Warrants or to be issued and countersigned within the type of Warrant Certificates, in both case, entitling the holders thereof to buy Warrant Shares on the idea of 1 Warrant Share for every complete Warrant upon cost of the Train Value at any time previous to the Time of Expiry; offered that in every case the quantity and/or class of shares or securities receivable on the train of the Warrants could also be topic to extend or lower or change in accordance with the phrases and provisions hereof; and

“written path of the Firm“, “written request of the Firm“, “written consent of the Firm” and “certificates of the Firm” and another doc required to be signed by the Firm, means, respectively, a written path, request, consent, certificates or different doc signed within the identify of the Firm by any govt officer or director and will encompass a number of devices so executed.

1.2

Phrases Importing the Singular

Except elsewhere in any other case expressly offered, or except the context in any other case requires, phrases importing the singular embody the plural and vice versa and phrases importing the masculine gender embody the female and neuter genders.

1.3

Interpretation not Affected by Headings

The division of this Indenture into Articles, sections, subsections and paragraphs, the availability of a desk of contents and the insertion of headings are for comfort of reference solely and shall not have an effect on the development or interpretation of this Indenture.

– 6 –

1.4

Day not a Enterprise Day

If any day on or earlier than which any motion is required or permitted to be taken hereunder isn’t a Enterprise Day, then such motion shall be required or permitted to be taken on or earlier than the requisite time on the following succeeding day that may be a Enterprise Day.

Time shall be of the essence in all respects of this Indenture and the Warrants issued hereunder.

This Indenture and the Warrants issued hereunder shall be construed and enforced in accordance with the legal guidelines of the Province of British Columbia and the federal legal guidelines of Canada relevant therein and shall be handled in all respects as British Columbia contracts.

1.7

Which means of “excellent“ for Sure Functions

Each Warrant Authenticated or licensed by the Warrant Agent hereunder shall be deemed to be excellent till it shall be cancelled or delivered to the Warrant Agent for cancellation, exercised pursuant to part 4.1 or till the Time of Expiry; offered that the place a brand new Warrant Certificates has been issued pursuant to part 3.6 hereof to interchange one which is misplaced, mutilated, stolen or destroyed, the Warrants represented by solely certainly one of such Warrant Certificates shall be counted for the aim of figuring out the mixture variety of Warrants excellent.

Except in any other case said, all greenback quantities referred to on this Indenture are in U.S. {dollars}.

This Indenture shall proceed in full power and impact till the sooner of: (a) the Time of Expiry; and (b) the date that no Warrants are excellent hereunder; offered that this Indenture shall proceed in impact thereafter, if relevant, till the Firm and the Warrant Agent have fulfilled all of their respective obligations below this Indenture.

All calculations referred to as for hereunder together with, with out limitation, calculations of Present Market Value shall be as decided by the Firm or, on the Warrantholders Request, such agency of impartial chartered accountants as could also be chosen by the administrators of the Firm, performing moderately, and in good religion of their sole discretion for these functions. Such calculations made in good religion and, absent manifest error, shall be last and binding on holders and the Warrant Agent. The Firm will present a schedule of its calculations to the holders and the Warrant Agent. The Warrant Agent shall be entitled to rely conclusively on the accuracy of such calculations with out impartial verification.

– 7 –

ARTICLE 2

APPOINTMENT OF WARRANT AGENT

2.1

Appointment of Warrant Agent

The Firm hereby appoints the Warrant Agent because the warrant agent and registrar for the Warrants and the Warrant Agent hereby accepts such appointment and agrees to enter into this Indenture and to carry all rights, pursuits and advantages contained herein for and on behalf of these individuals who develop into holders of Warrants issued pursuant to this Indenture occasionally.

ARTICLE 3

ISSUE OF WARRANTS

(1) A most of 11,500,000 Warrants are hereby created and licensed to be issued hereunder entitling the registered holders thereof to accumulate an mixture of 11,500,000 Warrant Shares (topic to adjustment in accordance with part 3.13) on the Train Value upon the phrases and situations herein set forth. Uncertificated Warrants shall be Authenticated by the Warrant Agent and deposited within the identify of CDS and Warrant Certificates evidencing the Warrants, if any, shall be executed by the Firm, licensed by or on behalf of the Warrant Agent and delivered by the Warrant Agent to the Firm, as relevant, in accordance with a written path of the Firm, all in accordance with sections 3.3 and three.4. Topic to adjustment in accordance with the provisions of this Indenture, every of the Warrants issued hereunder shall entitle the holder thereof to obtain from the Firm, upon cost of the Train Value, the variety of Warrant Shares equal to the Change Foundation in impact on the Train Date.

3.2

Type and Phrases of Warrants

(1) The Warrants could also be issued in both certificated or uncertificated kind. The Warrant Certificates shall be considerably within the kind hooked up as Schedule A hereto and dated as of the date of situation, topic to the provisions of this Indenture, with such additions, variations and modifications as could also be required or permitted by the phrases of this Indenture, and to provide impact to any Warrants not being issued as Uncertificated Warrants, and which can occasionally be agreed upon by the Warrant Agent and the Firm, and shall have such distinguishing letters and numbers because the Firm might, with the approval of the Warrant Agent, prescribe. Besides as hereinafter offered on this Article 3, all Warrants shall, save as to denominations, be of like tenor and impact. The Warrant Certificates could also be engraved, printed, lithographed, photocopied or be partially in a single kind or one other, because the Firm might decide. No change within the type of the Warrant Certificates shall be required by motive of any adjustment made pursuant to this Article 3 within the quantity and/or class of securities or sort of securities or different property that could be acquired pursuant to the train of Warrants.

(2) Every Warrant licensed to be issued hereunder shall entitle the registered holder thereof to accumulate (topic to sections 3.13, 3.14 and three.15) upon due train and upon the transaction instruction or due execution of the train kind endorsed on the Warrant Certificates, as relevant, or different instrument of train in such kind because the Warrant Agent and/or the Firm might occasionally prescribe and upon cost of the Train Value, one Warrant Share or such different type and quantity of shares or securities or property, calculated pursuant to the provisions of sections 3.13 and three.14, because the case could also be, at any time after the date of issuance of such Warrants and previous to the Time of Expiry, in accordance with the provisions of this Indenture.

– 8 –

(3) Fractional Warrants shall not be issued or in any other case offered for and shall be disregarded for all functions and no money quantity can be payable in lieu thereof. If the train of any Warrant would end in a fraction of a Widespread Share being issued to any individual, any such fraction shall be rounded all the way down to the following complete variety of Widespread Shares and no money quantity can be payable in lieu thereof.

(4) Neither the Firm nor the Warrant Agent shall have any obligation to ship Warrant Shares upon the train of any Warrant if the individual to whom such shares are to be delivered is a resident of a rustic or political subdivision thereof during which the Warrant Shares might not lawfully be issued pursuant to relevant securities laws. The Firm or the Warrant Agent might require any individual to offer proof of an relevant exemption from such securities laws to the Firm and Warrant Agent earlier than Warrant Shares are delivered pursuant to the train of any Warrant.

3.3

Signing of Warrant Certificates

Warrant Certificates shall be signed by any one of many administrators or govt officers of the Firm and will, however needn’t be below the company seal of the Firm or a copy thereof. The signature of any such director or officer could also be mechanically reproduced in facsimile or different digital format and Warrant Certificates bearing such facsimile or different digital format signatures shall be binding upon the Firm as if that they had been manually signed by such director or officer. However that the individual whose handbook or digital signature seems on any Warrant Certificates as a director or govt officer might not maintain workplace on the date of situation of the Warrant Certificates or on the date of certification or supply thereof, any Warrant Certificates signed as aforesaid shall, topic to part 3.4, be legitimate and binding upon the Firm and the registered holder thereof can be entitled to the advantages of this Indenture.

3.4

Authentication or Certification by the Warrant Agent

(1) No Warrant Certificates shall be issued or, if issued, shall be legitimate for any function or entitle the registered holder to the profit hereof or thereof till it has been licensed by signature by or on behalf of the Warrant Agent and such certification by the Warrant Agent shall be conclusive proof as in opposition to the Firm that the Warrant so licensed has been duly issued hereunder and the holder is entitled to the advantages hereof.

(2) No NCI deposit within the E-book-Based mostly System shall be made or, if made, shall be legitimate for any functions or entitle the holder to the advantages hereof and thereof till it has been Authenticated by the Warrant Agent and such Authentication shall be conclusive proof as in opposition to the Firm that the NCI deposit so made has been duly issued hereunder and that the holder is entitled to the advantages hereof and thereof.

– 9 –

(3) The certification of the Warrant Agent on the Warrant Certificates issued hereunder, or the Authentication of the Warrant Agent of the NCI deposit within the E-book-Based mostly System made hereunder, as relevant, shall not be construed as a illustration or guarantee by the Warrant Agent as to the validity of this Indenture or the Warrant Certificates (besides the due certification thereof) or the NCI deposit (besides the due Authentication thereof) as relevant, and the Warrant Agent shall in no respect be liable or answerable for the use product of the Warrant Certificates or NCI deposit, as relevant, or any of them or of the consideration therefor besides as in any other case specified herein.

(4) The register shall be last and conclusive proof as to all issues referring to Uncertificated Warrants with respect to which this Indenture requires the Warrant Agent to keep up data or accounts. In case of variations between the register at any time and another time, the register on the later time shall be controlling, absent manifest error and such Uncertificated Warrants are binding on the Firm.

3.5

Warrantholder not a Shareholder, and so forth.

Nothing on this Indenture or the holding of a Warrant evidenced by a Warrant Certificates shall be construed as conferring upon a Warrantholder any proper or curiosity in any way as a shareholder, together with however not restricted to the precise to vote at, to obtain discover of, or to attend conferences of shareholders or another proceedings of the Firm, nor entitle the holder to any proper or curiosity in respect thereof besides as herein and within the Warrants expressly offered.

3.6

Challenge in Substitution for Misplaced Warrant Certificates

(1) If any Warrant Certificates issued and licensed below this Indenture shall develop into mutilated or be misplaced, destroyed or stolen, the Firm, topic to relevant regulation, and subsection 3.6(2), shall situation and thereupon the Warrant Agent shall certify and ship a brand new Warrant Certificates of like denomination, date and tenor because the one mutilated, misplaced, destroyed or stolen in trade for, rather than and upon cancellation of such mutilated Warrant Certificates, or in lieu of and in substitution for such misplaced, destroyed or stolen Warrant Certificates, and the substituted Warrant Certificates shall be considerably within the kind set out in Schedule A hereto and Warrants evidenced by it is going to entitle the holder thereof to the advantages hereof and shall rank equally in accordance with its phrases with all different Warrant Certificates issued or to be issued hereunder.

(2) The applicant for the problem of a brand new Warrant Certificates pursuant to this part 3.6 shall bear the affordable price of the problem thereof and within the case of mutilation shall, as a situation precedent to the problem thereof, ship to the Warrant Agent the mutilated Warrant Certificates, and within the case of loss, destruction or theft shall, as a situation precedent to the problem thereof, furnish to the Firm and to the Warrant Agent such proof of possession and of the loss, destruction or theft of the Warrant Certificates so misplaced, destroyed or stolen as shall be passable to the Firm and to the Warrant Agent of their sole discretion and such applicant could also be required to furnish an indemnity and surety bond in quantity and kind passable to the Firm and the Warrant Agent of their sole discretion and shall pay the affordable expenses of the Firm and the Warrant Agent in connection therewith.

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3.7

Warrants to Rank Pari Passu

All Warrants shall rank pari passu with all different Warrants, no matter would be the precise date of situation of the Warrants.

3.8

Registration and Switch of Warrants

(1) The Warrant Agent will create and preserve on the principal workplace of the Warrant Agent within the Metropolis of Vancouver, British Columbia:

(a)

a register of holders during which shall be entered in alphabetical order the names and addresses of the holders of Warrants and particulars of the Warrants held by them and the Warrant Agent shall be entitled to depend on such register in reference to the trade, switch or train of any Warrant(s) pursuant to the phrases of this Indenture or the phrases thereof; and

(b)

a register of transfers during which all transfers of Warrants and the date and different particulars of every such switch shall be entered.

(2) No switch of any Warrant can be legitimate except entered on the register of transfers referred to in subsection 3.8(1), and, within the case of a Warrant Certificates, upon give up to the Warrant Agent of the Warrant Certificates evidencing such Warrant, and a duly accomplished and executed switch kind endorsed on the Warrant Certificates executed by the registered holder or his executors, directors or different authorized representatives or his lawyer duly appointed by an instrument in writing in kind and execution passable to the Warrant Agent, if relevant, and, upon compliance with such necessities and such different affordable necessities because the Warrant Agent might prescribe, such switch can be recorded on the register of transfers by the Warrant Agent.

(3) Within the case of a Warrant Certificates, the transferee of any Warrant will, after give up to the Warrant Agent of the Warrant Certificates evidencing such Warrant as required by subsection 3.8(2) and upon compliance with all different situations in respect thereof required by this Indenture or by regulation, be entitled to be entered on the register of holders referred to in subsection 3.8(1) because the proprietor of such Warrant free from all equities or rights of set-off or counterclaim between the Firm and the transferor or any earlier holder of such Warrant, besides in respect of equities or rights of which the Firm is required to take discover by statute or by order of a courtroom of competent jurisdiction.

(4) The Firm can be entitled, and will direct the Warrant Agent, to refuse to acknowledge any switch, or enter the identify of any transferee, of any Warrant on the registers referred to in subsection 3.8(1), if such switch would represent a violation of the Securities Legal guidelines of any relevant jurisdiction or the principles, laws or insurance policies of any regulatory authority having jurisdiction. The Warrant Agent is entitled to imagine compliance with all relevant Securities Legal guidelines except in any other case notified in writing by the Firm. No obligation shall relaxation with the Warrant Agent to find out compliance of the transferee or transferor of any Warrant with relevant Securities Legal guidelines.

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3.9

Registers Open for Inspection

The registers referred to in subsection 3.8(1) shall be open in any respect affordable instances throughout enterprise hours on a Enterprise Day for inspection by the Firm or any Warrantholder. The Warrant Agent shall, occasionally when requested to take action in writing by the Firm and upon cost of its affordable charges, furnish the Firm with an inventory of the names and addresses of holders of Warrants entered within the register of holders saved by the Warrant Agent and exhibiting the variety of Warrants held by every such holder.

3.10

Change of Warrant Certificates

(1) Warrant Certificates might, upon compliance with the affordable necessities of the Warrant Agent, be exchanged for Warrant Certificates in another licensed denomination representing within the mixture an equal variety of Warrants because the variety of Warrants represented by the Warrant Certificates being exchanged. The Firm shall signal and the Warrant Agent shall certify, in accordance with sections 3.3 and three.4, all Warrant Certificates vital to hold out the exchanges contemplated herein.

(2) Warrant Certificates could also be exchanged solely on the principal workplace of the Warrant Agent within the Metropolis of Vancouver, British Columbia or at another place that’s designated by the Firm with the approval of the Warrant Agent. Any Warrant Certificates tendered for trade shall be surrendered to the Warrant Agent and cancelled.

(3) Besides as in any other case herein offered, the Warrant Agent might cost Warrantholders requesting an trade an affordable sum for every Warrant Certificates issued; and cost of such expenses and reimbursement of the Warrant Agent or the Firm for any and all taxes or governmental or different expenses required to be paid shall be made by the get together requesting such trade as a situation precedent to such trade.

3.11

Possession of Warrants

The Firm and the Warrant Agent and their respective brokers might deem and deal with the registered holder of any Warrant as absolutely the proprietor of the Warrant represented thereby for all functions and the Firm and the Warrant Agent and their respective brokers shall not be affected by any discover or data on the contrary besides as required by statute or order of a courtroom of competent jurisdiction. The holder of any Warrant shall be entitled to the rights evidenced by that Warrant free from all equities or rights of set-off or counterclaim between the Firm and the unique or any intermediate holder thereof and all individuals might act accordingly and the receipt by any holder of the Warrant Shares or monies obtainable pursuant to the train of the Warrant shall be discharge to the Firm and the Warrant Agent for a similar and neither the Firm nor the Warrant Agent shall be sure to inquire into the title of any holder.

3.12

E-book-Based mostly System Warrants

(1) Besides as described above or as could also be directed by the Firm, registration of pursuits in and transfers of Warrants shall be made solely by way of the E-book-Based mostly System. Aside from as could also be directed by the Firm, the Warrants can be evidenced by a non-certificated stock (“NCI“) deposit although the E-book-Based mostly System for an quantity representing the mixture variety of such Warrants excellent occasionally.

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(2) Transfers of useful possession in any Warrant represented by an NCI deposit can be effected solely (i) with respect to the curiosity of a CDS Participant, by way of data maintained by CDS or its nominee for such Warrants, and (ii) with respect to the curiosity of any individual aside from a CDS Participant, by way of data maintained by CDS Members.

(3) The rights of Helpful House owners who maintain safety entitlements in respect of Warrants by way of the E-book-Based mostly System shall be restricted to these established by relevant regulation and agreements between CDS and CDS Members and between such CDS Members and Helpful House owners who maintain safety entitlements in respect of Warrants by way of the E-book-Based mostly System and have to be exercised by way of a CDS Participant in accordance with the principles and procedures of CDS.

(4) If any of the next occasions happens:

(a)

CDS or the Firm has notified the Warrant Agent that (A) CDS is unwilling or unable to proceed as depository or (B) CDS ceases to be a clearing company in good standing below relevant legal guidelines and, in both case, the Firm is unable to find a certified successor depository inside 90 days of supply of such discover;

(b)

the Firm has decided, in its sole discretion, to terminate the E-book-Based mostly System in respect of such Uncertificated Warrants and has communicated such dedication to the Warrant Agent in writing;

(c)

the Firm or CDS is required by relevant regulation to take the motion contemplated on this subsection; or

(d)

the E-book-Based mostly System administered by CDS ceases to exist,

then a number of definitive absolutely registered Warrant Certificates shall be executed by the Firm and licensed and delivered by the Warrant Agent to CDS in trade for the Uncertificated Warrants kind held by CDS.

Totally registered Warrant Certificates issued and exchanged pursuant to this subsection shall be registered in such names and in such denominations as CDS shall instruct the Warrant Agent, offered that the mixture variety of Warrants represented by such Warrant Certificates shall be equal to the mixture variety of Uncertificated Warrants so exchanged. Upon trade of Uncertificated Warrants for a number of Warrant Certificates in definitive kind, such Uncertificated Warrants shall be cancelled by the Warrant Agent.

(5) However something on this Indenture when it comes to an NCI deposit, neither the Firm nor the Warrant Agent nor any agent thereof shall have any duty or legal responsibility for:

(a)

the data maintained by CDS referring to any possession pursuits or another pursuits within the Warrants or the depository system maintained by CDS, or funds made on account of any possession curiosity or another curiosity of any individual in any Warrant represented by any NCI deposit (aside from CDS or its nominee);

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(b)

sustaining, supervising or reviewing any data of CDS or any CDS Participant referring to any such curiosity; or

(c)

any recommendation or illustration made or given by CDS or these contained on this Indenture that relate to the principles and laws of CDS or any motion to be taken by CDS by itself path or on the path of any CDS Participant.

(6) However any provisions made on this Indenture with respect to expiry dates, cost dates or different acts that could be required to be finished in reference to this Indenture, could also be altered because of the inside procedures and processes with respect to cut-off instances of CDS. It’s understood and agreed to by the events hereto that the Warrant Agent shall haven’t any duty in reference to any cut-off time imposed by CDS.

3.13

Adjustment of Change Foundation

Topic to part 3.14, the Change Foundation shall be topic to adjustment occasionally within the occasions and within the method offered as follows:

(1) If and each time, at any time after the date hereof and previous to the Time of Expiry, the Firm shall:

(i)

situation Widespread Shares or securities exchangeable for or convertible into Widespread Shares to all or considerably all of the holders of the Widespread Shares as a inventory dividend or different distribution (aside from a distribution of Warrant Shares upon train of the Warrants or pursuant to the train, conversion or trade of securities of the Firm excellent as of the date hereof), or

(ii)

subdivide, redivide or change its then excellent Widespread Shares right into a higher variety of Widespread Shares, or

(iii)

cut back, mix or consolidate its then excellent Widespread Shares right into a lesser variety of Widespread Shares,

(any of such occasions in these paragraphs (i), (ii) or (iii) being referred to as a “Widespread Share Reorganization“), then the Change Foundation in impact on the efficient date of such subdivision, redivision or change, or discount, mixture or consolidation, or on the report date of such inventory dividend or different distribution, because the case could also be, shall be adjusted by multiplying the Change Foundation in impact instantly previous to such efficient date or report date by a fraction:

(a)

the numerator of which shall be the overall variety of Widespread Shares excellent on such date instantly after giving impact to such Widespread Share Reorganization (together with, within the case the place securities exercisable, exchangeable for or convertible into Widespread Shares are distributed, the variety of Widespread Shares that might have been excellent had such securities been exercised, or exchanged for or transformed into Widespread Shares on such report date, assuming in any case the place such securities should not then convertible, exercisable or exchangeable however subsequently develop into so, that they had been convertible, exercisable or exchangeable on the report date on the idea upon which they first develop into convertible, exercisable or exchangeable), and

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(b)

the denominator of which shall be the overall variety of Widespread Shares excellent on such date earlier than giving impact to such Widespread Share Reorganization.

The ensuing product, adjusted to the closest 1/a hundredth, shall thereafter be the Change Foundation till additional adjusted as offered on this Article 3.

Any Widespread Shares owned by or held for the account of the Firm or any of its Subsidiaries or a partnership during which the Firm is instantly or not directly a celebration to can be deemed to not be excellent for the aim of any computation. To the extent that any adjustment within the Change Foundation happens pursuant to this subsection 3.13(1) on account of the fixing by the Firm of a report date for the distribution of securities exchangeable or exercisable for or convertible into Widespread Shares and the Widespread Share Reorganization doesn’t happen or any conversion, train or trade rights should not absolutely transformed, exercised or exchanged, the Change Foundation shall be readjusted instantly after the expiry of any related trade or conversion proper or the termination of the Widespread Share Reorganization, because the case could also be, to the Change Foundation that might then be in impact, based mostly upon the variety of Widespread Shares truly issued and remaining issuable after such expiry and shall be additional readjusted in such method upon the expiry of any additional such proper.

(2) If and each time, at any time after the date hereof and previous to the Time of Expiry, the Firm shall repair a report date for the distribution to all or considerably all the holders of its excellent Widespread Shares of rights, choices or warrants entitling them, for a interval expiring no more than 45 days after such report date, to subscribe for or buy Widespread Shares, or securities exchangeable or exercisable for or convertible into Widespread Shares, at a worth per share to the holder (or at an trade, train or conversion worth per share) of lower than 95% of the Present Market Value on such report date (any of such occasions being referred to as a “Rights Providing“), then the Change Foundation shall be adjusted efficient instantly after such report date for the Rights Providing by multiplying the Change Foundation in impact instantly previous to such report date by a fraction:

(a)

the numerator of which shall be the variety of Widespread Shares which might be excellent after giving impact to the Rights Providing (assuming the train of all the rights, choices or warrants below the Rights Providing and assuming the trade, train or conversion into Widespread Shares of all exchangeable, exercisable or convertible securities issued upon train of such rights, choices or warrants, if any), and

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(b)

the denominator of which shall be the mixture of:

(i)

the overall variety of Widespread Shares excellent as of the report date for the Rights Providing, and

(ii)

a variety of Widespread Shares decided by dividing

(A)

the quantity equal to the mixture consideration payable on the train of all the rights, choices and warrants below the Rights Providing plus the mixture consideration, if any, payable on the trade, train or conversion of the exchangeable or convertible securities issued upon train of such rights, choices or warrants (assuming the train of all rights, choices and warrants below the Rights Providing and assuming the trade or conversion of all exchangeable or convertible securities issued upon train of such rights, choices and warrants);

by

(B)

the Present Market Value as of the report date for the Rights Providing.

The ensuing product, adjusted to the closest 1/a hundredth, shall thereafter be the Change Foundation till additional adjusted as offered on this Article 3. Any Widespread Shares owned by or held for the account of the Firm or any of its Subsidiaries or a partnership during which the Firm is instantly or not directly a celebration to can be deemed to not be excellent for the aim of any computation. If, on the date of expiry of the rights, choices or warrants topic to the Rights Providing, lower than all of the rights, choices or warrants have been exercised, then the Change Foundation shall be readjusted efficient instantly after the date of expiry to the Change Foundation which might have been in impact on the date of expiry if solely the rights, choices or warrants issued had been these exercised. If on the date of expiry of the rights of trade, train or conversion of any securities issued pursuant to the Rights Providing lower than all of such securities have been exchanged or exercised for, or transformed into, Widespread Shares, then the Change Foundation shall be readjusted efficient instantly after the date of such expiry to the Change Foundation which might have been in impact on the date of expiry if solely the exchangeable, exercisable or convertible securities issued had been these securities truly exchanged or exercised for or transformed into Widespread Shares.

(3) If and each time, at any time after the date hereof and previous to the Time of Expiry, the Firm shall repair a report date for the issuance or distribution to all or considerably all of the holders of its excellent Widespread Shares of:

(i)

shares of the Firm of any class aside from Widespread Shares; or

(ii)

rights, choices or warrants to accumulate Widespread Shares or securities exchangeable or exercisable for or convertible into Widespread Shares; or

(iii)

evidences of indebtedness; or

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(iv)

money, securities or any property or different belongings,

and if such issuance or distribution doesn’t represent a Widespread Share Reorganization or a Rights Providing (any of such non-excluded occasions being herein referred to as a “Particular Distribution“), the Change Foundation shall be adjusted efficient instantly after the report date for the Particular Distribution by multiplying the Change Foundation in impact on such report date by a fraction:

(a)

the numerator of which shall be the variety of Widespread Shares excellent on such report date multiplied by the Present Market Value on such report date, and

(b)

the denominator of which shall be:

(A)

the product of the variety of Widespread Shares excellent on such report date and the Present Market Value on such report date,

much less

(B)

the truthful market worth, as decided by motion by the board of administrators performing moderately and in good religion (whose dedication shall, absent manifest error, be conclusive), to the holders of the Widespread Shares of the shares, rights, choices, warrants, evidences of indebtedness or property or different belongings issued or distributed within the Particular Distribution,

offered that no such adjustment shall be made if the results of such adjustment could be to lower the Change Foundation in impact instantly earlier than such report date. The ensuing product, adjusted to the closest 1/a hundredth, shall thereafter be the Change Foundation till additional adjusted as offered on this Article 3. Any shares owned by or held for the account of the Firm or its Subsidiaries or a partnership of which the Firm is instantly or not directly a celebration to shall be deemed to not be excellent for the aim of any such computation.

(4) If and each time, at any time after the date hereof and previous to the Time of Expiry, there shall be a reclassification of the Widespread Shares at any time excellent or change or different occasion pursuant to which the Widespread Shares are modified or exchanged into or for different shares or into or for different securities and/or property (together with money) (aside from a Widespread Share Reorganization), or a consolidation, amalgamation, plan of association or merger of the Firm with or into another company or different entity (aside from a consolidation, amalgamation, plan of association or merger which doesn’t end in any reclassification of the excellent Widespread Shares or a change or trade of the Widespread Shares into or for different shares or into or for different securities and/or property (together with money)), or a switch (aside from to a Subsidiary) of the enterprise or belongings of the Firm as an entirety or considerably as an entirety to a different company or different entity (any of such occasions being herein referred to as a “Capital Reorganization“), any Warrantholder who thereafter shall train his proper to obtain Warrant Shares pursuant to Warrant(s) shall be entitled to obtain, and shall settle for in lieu of the variety of Warrant Shares to which such holder was theretofore entitled upon such train, the sort and quantity of shares, different securities and/or different property (together with money) ensuing from the Capital Reorganization which such holder would have been entitled to obtain on account of such Capital Reorganization if, on the efficient date or report date thereof, because the case could also be, the Warrantholder had been the registered holder of the variety of Warrant Shares to which such holder was theretofore entitled upon train. If acceptable, changes shall be made on account of any such Capital Reorganization within the utility of the provisions set forth on this Article 3 with respect to the rights and pursuits thereafter of Warrantholders to the tip that the provisions set forth on this Article 3 shall thereafter correspondingly be made relevant as practically as might moderately be in relation to any shares, different securities and/or different property (together with money) thereafter deliverable upon the train of any Warrant. Any such adjustment shall be made by and set forth in an indenture supplemental hereto accredited by the administrators and by the Warrant Agent and entered into pursuant to the provisions of this Indenture and shall for all functions be conclusively deemed to be an acceptable adjustment.

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(5) Any adjustment to the Change Foundation as set forth herein (besides ensuing from a Capital Reorganization) shall additionally embody a corresponding adjustment to the Train Value which shall be calculated by multiplying the Train Value by a fraction: (a) the numerator of which shall be the Change Foundation previous to the adjustment, and (b) the denominator of which shall be the Change Foundation after the adjustment.

3.14

Guidelines Relating to Calculation of Adjustment of Change Foundation

For the needs of part 3.13:

(1) The changes offered for in part 3.13 shall be cumulative and such changes shall be made successively each time an occasion referred to in part 3.13 shall happen, topic to the next subsections of this part 3.14.

(2) No adjustment within the: (a) Change Foundation shall be required except such adjustment would end in a change of not less than 0.01 of a Warrant Share based mostly on the prevailing Change Foundation; or (b) Train Value shall be required except such adjustment would end in a change of not less than 1%, offered that any changes which, apart from the provisions of this subsection, would in any other case have been required to be made, shall be carried ahead and brought under consideration in any subsequent adjustment.

(3) No adjustment within the Change Foundation shall be made in respect of any occasion described in part 3.13, aside from the occasions referred to in paragraphs (ii) and (iii) of subsection (1) thereof, if Warrantholders are entitled to take part in such occasion on the identical phrases, mutatis mutandis, as if Warrantholders had exercised their Warrants previous to or on the efficient date or report date of such occasion, any such participation being topic to regulatory approval.

(4) No adjustment within the Change Foundation shall be made pursuant to part 3.13 in respect of the problem occasionally of Warrant Shares purchasable on train of the Warrants or pursuant to the train, conversion or trade of securities of the Firm excellent as of the date hereof.

(5) The Firm shall occasionally instantly after the prevalence of any occasion which requires an adjustment or readjustment as offered in part 3.13, ship a certificates of the Firm to the Warrant Agent specifying the character of the occasion requiring the identical and the quantity of the adjustment or readjustment necessitated thereby and setting forth in affordable element the strategy of calculation and the info upon which such calculation relies, which certificates shall be supported by a certificates of the Firm’s Auditors verifying such calculation. The Warrant Agent shall rely, and shall be protected in so doing, upon the certificates of the Firm or of the Firm’s Auditor and another doc filed by the Firm pursuant to this part 3.13 for all functions.

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(6) If a dispute shall at any time come up with respect to changes offered for in part 3.13, such dispute shall, absent manifest error, be conclusively decided by the Firm’s Auditors, or if they’re unable or unwilling to behave, by such different agency of impartial chartered accountants as could also be chosen by the administrators and any additional dedication, absent manifest error, shall be binding upon the Firm, the Warrant Agent and the Warrantholders.

(7) If the Firm shall set a report date to find out the holders of the Widespread Shares for the aim of entitling them to obtain any dividend or distribution or any subscription or buy rights and shall, thereafter and earlier than the distribution to such shareholders of any such dividend, distribution, or subscription or buy rights, legally abandon its plan to pay or ship such dividend, distribution, or subscription or buy rights, then no adjustment within the Change Foundation shall be required by motive of the setting of such report date.

(8) Within the absence of a decision of the administrators fixing a report date for a Rights Providing or Particular Distribution, the Firm shall be deemed to have fastened because the report date therefor the date on which the Rights Providing or Particular Distribution is effected.

(9) If the acquisition worth offered for in any Rights Providing (the “Rights Providing Value“) is decreased, the Change Foundation shall forthwith be modified in order to extend the Change Foundation to such Change Foundation as would have been obtained had the adjustment to the Change Foundation made pursuant to subsection 3.13(2) upon the issuance of such Rights Providing been made upon the idea of the Rights Providing Value as so decreased, offered that the provisions of this subsection shall not apply to any lower within the Rights Providing Value ensuing from provisions in any such Rights Providing designed to forestall dilution if the occasion giving rise to such lower within the Rights Providing Value itself requires an adjustment to the Change Foundation pursuant to the provisions of part 3.13.

(10) As a situation precedent to the taking of any motion that might require any adjustment in any of the subscription rights pursuant to any of the Warrants, together with the Change Foundation, the Firm shall take any company motion which can, within the opinion of counsel, be vital so that the Firm have unissued and reserved in its licensed capital and will validly and legally situation as absolutely paid and non-assessable all of the shares or different securities that each one the holders of such Warrants are entitled to obtain on the train of all of the subscription rights attaching thereto in accordance with the provisions thereof.

(11) The Warrant Agent shall be entitled to behave and depend on any adjustment calculations by the Firm or the Firm’s Auditors.

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3.15

Postponement of Subscription

In any case the place the applying of part 3.13 leads to a rise within the variety of Widespread Shares which might be issuable upon train of the Warrants taking impact instantly after the report date for a particular occasion, if any Warrant is exercised after that report date and previous to completion of such particular occasion, the Firm might postpone the issuance to the Warrantholder of the Warrant Shares to which he’s entitled by motive of such adjustment, however such Warrant Shares shall be so issued and delivered to that holder upon completion of that occasion, with the variety of such Warrant Shares calculated on the idea of the variety of Warrant Shares on the date that the Warrant was exercised, adjusted for completion of that occasion and the Firm shall ship to the individual or individuals in whose identify or names the Warrant Shares are to be issued an acceptable instrument evidencing the precise of such individual or individuals to obtain such Warrant Shares and the precise to obtain any dividends or different distributions which, however for the provisions of this part 3.15, such individual or individuals would have been entitled to obtain in respect of such Warrant Shares from and after the date that the Warrant was exercised in respect thereof.

3.16

Discover of Adjustment

(1) At the least 14 days previous to the efficient date or report date, because the case could also be, of any occasion which requires or may require adjustment pursuant to part 3.13, the Firm shall:

(a)

file with the Warrant Agent a certificates of the Firm specifying the particulars of such occasion (together with the report date or the efficient date for such occasion) and, if determinable, the required adjustment and the computation of such adjustment and the info upon which such calculation relies, which certificates could also be supported by a certificates of the Firm’s Auditors verifying such calculation if requested by the Warrant Agent at their discretion and the Warrant Agent shall rely, and shall be protected in so doing, upon the certificates of the Firm or of the Firm’s Auditor and another doc filed by the Firm pursuant to this Article 3 for all functions; and

(b)

give discover to the Warrantholders of the particulars of such occasion (together with the report date or the efficient date for such occasion) and, if determinable, the required adjustment.

(2) In case any adjustment for which a discover in subsection 3.16(1) has been given isn’t then determinable, the Firm shall promptly after such adjustment is determinable:

(a)

file with the Warrant Agent a computation of such adjustment; and

(b)

give discover to the Warrantholders of the adjustment.

(3) The Warrant Agent might, absent manifest error, act and depend on certificates and different paperwork filed by the Firm pursuant to this part 3.16 for all functions of the adjustment.

3.17

No Motion after Discover

The Firm covenants with the Warrant Agent that it’s going to not take another company motion which could deprive a Warrantholder of the chance of exercising the rights of acquisition pursuant thereto through the interval of 10 days after the giving of the discover set forth in subsection 3.16(1) and paragraph (b) of subsection 3.16(2).

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3.18

Elective Purchases by the Firm

Topic to relevant regulation and prior approval of the TSX, if required, the Firm might occasionally buy on any inventory trade (if then listed), within the open market, by personal settlement or in any other case any of the Warrants. Any such buy shall be made on the lowest worth or costs at which, within the opinion of the board of administrators of the Firm, such Warrants are then obtainable, plus affordable prices of buy, and could also be made in such method, from such individuals, and on such different phrases because the Firm in its sole discretion might decide. The Warrant Certificates representing the Warrants bought pursuant to this part 3.18 shall forthwith be delivered to and cancelled by the Warrant Agent.

3.19

Safety of Warrant Agent

The Warrant Agent shall not:

(a)

at any time be below any obligation or duty to any registered holder of Warrants to find out whether or not any info exist which will require any adjustment contemplated by this Article 3, nor to confirm the character and extent of any such adjustment when made or the strategy employed in making the identical;

(b)

be accountable with respect to the validity or worth or the sort or quantity of any Warrant Shares which will at any time be issued or delivered upon the train of the Warrants;

(c)

be accountable for any failure of the Firm to make any money cost upon the give up of any Warrants for the aim of the train of such rights or to adjust to any of the covenants contained on this Article 3; or

(d)

incur any legal responsibility or duty in any way or be in any approach accountable for the consequence of any breach on the a part of the Firm of any of the representations, warranties or covenants of the Firm or any acts or deeds of the brokers or servants of the Firm.

ARTICLE 4

EXERCISE OF WARRANTS

4.1

Technique of Train of Warrants

(1) The registered holder of any Warrant might train the rights thereby conferred on him to accumulate all or any a part of the Warrant Shares to which such Warrant entitles the holder, by surrendering the Warrant Certificates representing such Warrants to the Warrant Agent at any time previous to the Time of Expiry at its principal workplace within the Metropolis of Vancouver, British Columbia (or at such extra place or locations as could also be determined by the Firm occasionally with the approval of the Warrant Agent), with a duly accomplished and executed train kind (the “Train Type“) of the registered holder or his executors, directors or different authorized consultant or his lawyer duly appointed by an instrument in writing within the kind and method passable to the Warrant Agent, considerably within the kind endorsed on the Warrant Certificates as Schedule “B”, specifying the variety of Warrant Shares subscribed for along with an authorized cheque, financial institution draft or cash order in lawful cash of Canada, payable to or to the order of the Firm in an quantity equal to the Train Value multiplied by the variety of Warrant Shares subscribed for. A Warrant Certificates with the duly accomplished and executed Train Type and cost of the Train Value shall be deemed to be surrendered solely upon private supply thereof to or, if despatched by mail or different technique of transmission, upon precise receipt thereof by the Warrant Agent.

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(2) The Train Type shall be signed by the Warrantholder, or his executors, or directors or different authorized consultant or his lawyer duly appointed by an instrument in writing within the kind and method passable to the Warrant Agent, shall specify the individual(s) in whose identify such Warrant Shares are to be issued, the handle(es) of such individual(s) and the variety of Warrant Shares to be issued to every individual, if multiple is so specified. If any of the Warrant Shares subscribed for are to be issued to (a) individual(s) aside from the Warrantholder, the signatures set out within the Train Type shall be assured by a Canadian Schedule I chartered financial institution or a medallion signature assure from a member of a acknowledged Signature Medallion Assure Program and (b) the Warrantholder shall pay to the Firm or the Warrant Agent all relevant switch or related taxes and the Firm shall not be required to situation or ship certificates evidencing Warrant Shares except or till such Warrantholder shall have paid to the Firm or the Warrant Agent on behalf of the Firm the quantity of such tax or shall have established to the affordable satisfaction of the Firm that such tax has been paid or that no tax is due.

(3) If, on the time of train of the Warrants, in accordance with the provisions of subsections 4.1(1) or 4.1(4), there are any buying and selling restrictions on the Warrant Shares pursuant to Securities Legal guidelines or inventory trade necessities, the Firm shall, on the recommendation of counsel, endorse any certificates or book-entry positions representing the Warrant Shares to such impact. The Warrant Agent is entitled to imagine compliance with all Securities Legal guidelines except in any other case notified in writing by the Firm.

(4) A Helpful Proprietor of Uncertificated Warrant evidenced by a safety entitlement in respect of Warrants within the E-book-Based mostly System who wishes to train his Uncertificated Warrants, should achieve this by inflicting a CDS Participant to ship to CDS (at its workplace within the Metropolis of Toronto), on behalf of the Helpful Proprietor at any time previous to the Time of Expiry, a written discover of the Helpful Proprietor’s intention to train Warrants (the “Train Discover“) in a fashion acceptable to CDS. Forthwith upon receipt by CDS of such discover, in addition to cost for the mixture Train Value, CDS shall ship to the Warrant Agent affirmation of its intention to train Warrants (the “Affirmation“) in a fashion acceptable to the Warrant Agent, together with by digital means by way of the E-book-Based mostly System. The Helpful Proprietor will provoke the digital train by way of the E-book-Based mostly System, by means of the Affirmation and ahead the mixture Train Value electronically to the Warrant Agent and the Warrant Agent will execute the train by issuing to CDS by way of the E-book-Based mostly System the Warrant Shares to which the exercising Helpful Proprietor is entitled pursuant to the train. Any expense related to the preparation and supply of Train Notices can be for the account of the Helpful Proprietor exercising the Warrants and the Warrant Agent will execute the train by issuing to CDS by way of the E-book-Based mostly System the Warrant Shares to which the exercising Warrantholder is entitled pursuant to the train. Any expense related to the train course of can be for the account of the entitlement holder exercising the Warrants and/or the CDS Participant exercising the Warrants on its behalf.

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By inflicting a CDS Participant to ship discover to CDS, a Helpful Proprietor shall be deemed to have irrevocably surrendered his Warrants so exercised and appointed such CDS Participant to behave as his or her unique settlement agent with respect to the train and the receipt of Warrant Shares in reference to the obligations arising from such train.

Any discover which CDS determines to be incomplete, not in correct kind or not duly executed shall for all functions be void and of no impact and the train to which it relates shall be thought of for all functions to not have been exercised thereby. A failure by a CDS Participant to train or to provide impact to the settlement thereof in accordance with the Helpful Proprietor’s directions is not going to give rise to any obligations or legal responsibility on the a part of the Firm or Warrant Agent to the CDS Participant or the Helpful Proprietor.

If the Train Type set forth within the Warrant Certificates shall have been amended, the Firm shall trigger the amended Train Type to be forwarded to all registered Warrantholders.

Train Kinds and Confirmations have to be delivered to the Warrant Agent at any time through the Warrant Agent’s precise enterprise hours on any Enterprise Day previous to the Expiry Time. Any Train Type or Confirmations acquired by the Warrant Agent after enterprise hours on any Enterprise Day aside from the Expiry Date can be deemed to have been acquired by the Warrant Agent on the following following Enterprise Day.

Any Warrant with respect to which a Affirmation or Train Type isn’t acquired by the Warrant Agent earlier than the Expiry Time shall be deemed to have expired and develop into void and all rights with respect to such Warrants shall terminate and be cancelled.

If, at any time following the preliminary effectiveness of a Registration Assertion and previous to the Time of Expiry, the Firm determines that no Registration Assertion filed with the SEC is efficient, or the usage of any such Registration Assertion is suspended, no Warrantholder can be permitted to train Warrants except an exemption from the registration necessities of the U.S. Securities Act and relevant state securities legal guidelines is obtainable, and the Firm shall promptly present written discover of such dedication to the Warrant Agent. Upon receipt of such discover, the Warrant Agent shall present a replica thereof to every registered holder of Warrants, and ensure in writing that the then excellent Warrants might, till the sooner of (x) a Registration Assertion turning into efficient or ceasing to be suspended and any prospectus complement vital in relation thereto having been filed, or (y) the Time of Expiry, if the Present Market Value exceeds the Train Value, even be exercised via a “cashless train” during which the Warrantholder shall be entitled to give up a Warrant to the Firm in trade for the issuance (following the due train of Warrants pursuant to part 4.1) of the variety of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), the place:

(i) A = the Present Market Value on the buying and selling day instantly previous the date of the receipt by the Warrant Agent of the discover of train;

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(ii) B = the Train Value per Warrant Share of such Warrant, as adjusted; and

(iii) X = the variety of Warrant Shares that might in any other case be issuable upon train of such Warrant in accordance with its phrases via a money train quite than a cashless train.

The difficulty worth for every such Warrant Share to be issued pursuant to the cashless train of a Warrant can be equal to (B), as outlined above, and the overall situation worth for the mixture variety of Warrant Shares issued pursuant to the cashless train of a Warrant can be paid and glad in full by the give up to the Firm of such Warrant.

As well as, if the Firm determines at any time previous to the Time of Expiry that U.S. state securities legal guidelines should not preempted with respect to workout routines of the Warrants, the Firm might by written discover to the Warrant Agent elect to allow workout routines of Warrants which might be topic to the legal guidelines of a number of U.S. jurisdictions to be exercised on a “cashless train” foundation, pursuant to the cashless train method set forth above. Upon the receipt of such discover, the Warrant Agent shall present a replica thereof to every registered holder of Warrants, and ensure the Firm’s dedication in writing.

The Firm shall ship to the Warrant Agent, an officer’s certificates setting out the particulars of the Warrants to be exercised and the identify and handle of the Warrantholder, the variety of Warrant Shares to be issued, and setting out the idea of the calculations pursuant to this part 4.2.

4.3

No Fractional Warrant Shares

By no means shall the Firm be obliged to situation any fractional Warrant Shares or any money or different consideration in lieu thereof upon the train of a number of Warrants. To the extent that the holder of a number of Warrants would in any other case have been entitled to obtain on the train or partial train thereof a fraction of a Warrant Share, that holder might train that proper in respect of the fraction solely together with one other Warrant or Warrants that within the mixture entitle the holder to buy a complete variety of Warrant Shares; in any other case fractional Warrant Shares shall be rounded all the way down to the closest complete variety of Warrant Shares with out compensation therefor.

4.4

Impact of Train of Warrants

(1) Upon compliance by the Warrantholder with the provisions of part 4.1 or part 4.2, the Warrant Shares subscribed for shall be deemed to have been issued and the individual to whom such Warrant Shares are to be issued shall be deemed to have develop into the holder of report of such Warrant Shares on the Train Date except the switch registers of the Firm for the Widespread Shares shall be closed on such date, during which case the Warrant Shares subscribed for shall be deemed to have been issued and such individual shall be deemed to have develop into the holder of report of such Warrant Shares on the date on which such switch registers are reopened.

(2) Inside three Enterprise Days following the due train of a Warrant pursuant to part 4.1 and forthwith after the Time of Expiry, the Warrant Agent shall ship to the Firm a discover setting forth the particulars of all Warrants exercised, if any, and the individuals in whose names the Warrant Shares are to be issued (as relevant) and the addresses of such holders of the Warrant Shares.

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(3) Inside 5 Enterprise Days of the due train of a Warrant pursuant to part 4.1, the Firm shall trigger the Switch Agent to situation, inside such 5 Enterprise Day interval, to CDS by way of the E-book-Based mostly System the Warrant Shares to which the exercising Warrantholder is entitled pursuant to the train or mail to the individual in whose identify the Warrant Shares so subscribed for are to be issued, as specified within the Train Type accomplished on the Warrant Certificates, on the handle specified within the Train Type, a certificates or certificates for the Warrant Shares to which the Warrantholder is entitled and, if relevant, shall trigger the Warrant Agent to mail a Warrant Certificates representing any Warrants not then exercised.

4.5

Cancellation of Warrants

All Warrants surrendered to the Warrant Agent pursuant to sections 3.6, 3.8(2), 3.10, 3.18 or 4.1 shall be cancelled by the Warrant Agent and the Warrant Agent shall report the cancellation of such Warrants on the register of holders maintained by the Warrant Agent pursuant to subsection 3.8(1). The Warrant Agent shall, if required by the Firm, furnish the Firm with a certificates figuring out the Warrants so cancelled. All Warrants which were duly cancelled shall be with out additional power or impact in any way.

4.6

Subscription for lower than Entitlement

The holder of any Warrant might subscribe for and buy a complete variety of Warrant Shares that’s lower than the quantity that the holder is entitled to buy pursuant to a surrendered Warrant. In such occasion, the holder thereof shall be entitled to obtain a brand new Warrant Certificates, if relevant, in respect of the stability of Warrants that weren’t then exercised.

4.7

Expiration of Warrant

After the Time of Expiry, all rights below any Warrant in respect of which the precise of subscription and buy herein and therein offered for shall not theretofore have been exercised shall wholly stop and terminate and such Warrant shall be void and of no impact.

4.8

U.S. Securities Regulation Issues

(1) In reference to any train of Warrants, whether it is required by regulation, the Firm shall trigger to be delivered to any individual in whose identify the Warrant Shares issuable upon train of the Warrants are to be issued a prospectus that complies with the U.S. Securities Act and that is part of a Registration Assertion. Previous to the date of this Indenture, the Firm has filed with securities regulatory authorities in every of the provinces and territories of Canada, aside from Québec, and the SEC a prospectus complement to the prospectus included in its Registration Assertion on Type F-10 (File no. 333-249680) masking the issuance of the Warrant Shares upon train of the Warrants for functions of relevant U.S. securities legal guidelines (such extra prospectus complement was not filed in respect of, and doesn’t qualify, any distribution of the Warrant Shares upon train of the Warrants in any province or territory of Canada below relevant Canadian securities legal guidelines). The Firm will use commercially affordable finest efforts to keep up a Registration Assertion efficient till the sooner of the Time of Expiry or such time as no Warrants stay excellent (offered, nevertheless, that nothing shall stop the Firm’s amalgamation, association, merger or sale, together with any take-over bid, and any related delisting or deregistration or ceasing to be a reporting issuer, offered that, as long as the Warrants are nonetheless excellent and characterize a proper to accumulate securities of the buying firm, the buying firm shall assume the Firm’s obligations below this Indenture). All bills incidental to the Firm’s efficiency of or compliance with the foregoing provisions can be borne by the Firm, together with, with out limitation: (i) all registration and submitting charges and bills; (ii) all charges and bills of compliance with federal securities and state Blue Sky securities legal guidelines; (iii) all charges and disbursements of counsel for the Firm, impartial licensed public accountants of the Firm and technical consultants retained by the Firm whose consent is required to be supplied with respect to any Registration Assertion.

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(2) However any provision of this Indenture on the contrary, except a Registration Assertion shall be efficient below the U.S. Securities Act, any prospectus complement vital thereto shall have been filed with the SEC and state securities legal guidelines are preempted, the Warrants might solely be exercised by individuals who set up to the affordable satisfaction of the Firm and the Warrant Agent (which can embody offering an opinion of counsel of acknowledged standing passable to the Firm and the Warrant Agent) that the issuance of the Warrant Shares pursuant to the train of the Warrants could be accomplished pursuant to and in accordance with an exemption or exclusion from the registration necessities of the U.S. Securities Act and all relevant state securities legal guidelines.

(3) If any individual shall fail to ascertain to the satisfaction of the Firm or Warrant Agent the situations described in part 4.8(2), the holder of the relevant Warrant shall be notified by the Warrant Agent inside two Enterprise Days that the proof offered has been deemed inadequate to allow the train of such Warrant and offering an outline of the character of such deficiency. Within the case the place the Firm isn’t glad with the offered proof, it shall furnish to the Warrant Agent both (i) the type of correct discover to be delivered to ascertain the required proof or (ii) an outline of the deficiency. Till such time because the Firm or Warrant Agent, because the case could also be, performing moderately, is glad with the proof offered, the holder of the Warrant shall not be permitted to train the Warrant.

(4) The Firm will notify the Warrant Agent when a Registration Assertion turns into efficient below the U.S. Securities Act and, besides within the case of a Registration Assertion turning into efficient on or previous to the date of this Warrant Indenture, the Warrant Agent will notify the registered holder of Warrants as required. Thereafter, the Warrant Agent might assume {that a} Registration Assertion stays efficient till in any other case notified in writing by the Firm that such Registration Assertion is not efficient. The Firm shall always be obligated to offer immediate discover to the Warrant Agent relating to any change within the effectiveness of a Registration Assertion.

4.9

Securities Restrictions

(1) The Warrant Agent shall be entitled to imagine that Warrant Shares can be issued pursuant to the train of any Warrant with out violating the securities legal guidelines of any relevant jurisdiction and with out legending any certificates representing the Warrant Shares except the Warrant Agent has acquired discover in writing from the Firm stating in any other case and setting forth the restrictions on the train of the Warrants and any legend the certificates representing the Warrant Shares ought to bear.

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(2) Neither the Firm nor the Warrant Agent shall impact any train of a Warrant, and a Warrantholder shall not have the precise to train any portion of a Warrant, pursuant to Article 4 or in any other case, to the extent that, after giving impact to such issuance after train as set forth on the Train Type, the Warrantholder (along with the Warrantholder’s associates, and another Individuals performing as a gaggle along with the Warrantholder or any of the Warrantholder’s associates (such individuals, “Attribution Events“)), would beneficially personal in extra of the Helpful Possession Limitation (as outlined under). For functions of the foregoing sentence, the variety of Widespread Shares beneficially owned by the Warrantholder and its associates and Attribution Events shall embody the variety of Widespread Shares issuable upon train of a Warrant with respect to which such dedication is being made, however shall exclude the variety of Widespread Shares that might be issuable upon (i) train of the remaining, non-exercised portion of a Warrant beneficially owned by the Warrantholder or any of its associates or Attribution Events, and (ii) train or conversion of the unexercised or unconverted portion of another securities of the Firm (together with, with out limitation, another Fairness Share equivalents), topic to a limitation on conversion or train analogous to the limitation contained herein, beneficially owned by the Warrantholder or any of its associates or Attribution Events. Besides as set forth within the previous sentence, for functions of this Part 4.9(2), useful possession shall be calculated in accordance with Part 13(d) of the U.S. Change Act and the principles and laws promulgated thereunder, it being acknowledged by the Warrantholder that neither the Warrant Agent nor the Firm is representing to the Warrantholder that such calculation is in compliance with Part 13(d) of the U.S. Change Act and the Warrantholder additional acknowledges that it’s solely accountable for any schedules required to be filed in accordance therewith. To the extent that the limitation contained on this Part 4.9(2) applies, the dedication of whether or not a Warrant is exercisable (in relation to different securities owned by the Warrantholder along with any associates and Attribution Events) and of which portion of a Warrant is exercisable shall be within the sole discretion and on the sole duty of the Warrantholder, and the submission of an Train Type shall be deemed to be the Warrantholder’s dedication of whether or not a Warrant is exercisable (in relation to different securities owned by the Warrantholder along with any associates and Attribution Events) and of which portion of a Warrant is exercisable, in every case topic to the Helpful Possession Limitation, and neither the Warrant Agent nor the Firm shall have any obligation to confirm or affirm the accuracy of such dedication. As well as, a dedication as to any group standing as contemplated above shall be decided in accordance with Part 13(d) of the U. S. Change Act and the principles and laws promulgated thereunder. For functions of this Part 4.9(2) in figuring out the variety of excellent Widespread Shares, a Warrantholder might depend on the variety of excellent Widespread Shares as mirrored in (A) the Firm’s most up-to-date periodic or annual report filed with the SEC or on SEDAR, because the case could also be, (B) a newer public announcement by the Firm, or (C) a newer written discover by the Firm or the Firm’s switch agent setting forth the variety of Widespread Shares excellent. Upon the written or oral request of a Warrantholder, the Firm shall, inside two buying and selling days, affirm orally and in writing to the Warrantholder the variety of Widespread Shares then excellent. In any case, the variety of excellent Widespread Shares shall be decided after giving impact to the conversion or train of securities of the Firm, together with the Warrant being exercised, by the Warrantholder or its associates or Attribution Events for the reason that date as of which such variety of excellent Widespread Shares was reported. The “Helpful Possession Limitation” shall be 4.99% of the variety of Widespread Shares excellent instantly after giving impact to the issuance of Warrant Shares issuable upon train of the Warrant in query. The Warrantholder, upon written discover to the Firm, might improve or lower the Helpful Possession Limitation provisions of this Part 4.9(2), offered that the Helpful Possession Limitation in no occasion exceeds 9.99% of the variety of Widespread Shares excellent instantly after giving impact to the issuance of Warrant Shares upon train of the Warrant in query held by the Warrantholder and the provisions of this Part 4.9(2) shall proceed to use. Any improve within the Helpful Possession Limitation is not going to be efficient till the sixty-first (61st) day after such discover is delivered to the Firm. The provisions of this paragraph shall be construed and carried out in a fashion in any other case than in strict conformity with the phrases of this Part 4.9(2) to right this paragraph (or any portion hereof) that could be faulty or inconsistent with the supposed Helpful Possession Limitation herein contained or to make modifications or dietary supplements vital or fascinating to correctly give impact to such limitation. The constraints contained on this Part 4.9(2) shall apply to a successor holder of a Warrant. For higher certainty, the Warrant Agent may have no duty for monitoring the useful possession stage of the Widespread Shares held by Warrantholders or their Attribution Events and may have no legal responsibility regarding the determinations product of whether or not or not a Warrantholder or their Attribution Events would develop into a useful holder in extra of the Helpful Possession Limitation of the issued and excellent Widespread Shares upon train of their Warrants.

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ARTICLE 5

COVENANTS

5.1

Basic Covenants of the Firm

The Firm represents, warrants and covenants with the Warrant Agent for the advantage of the Warrant Agent and the Warrantholders that:

(1) The Firm will always, as long as any Warrants stay excellent, keep its existence, except in any other case inconsistent with the fiduciary duties of the board of administrators of the Firm.

(2) The Firm is duly licensed to create and situation the Warrants to be issued hereunder and the Warrants, when issued, Authenticated and licensed, as relevant, can be authorized, legitimate, binding and enforceable obligations of the Firm.

(3) The Firm will use affordable industrial efforts to make sure that all Widespread Shares excellent or issuable occasionally (together with with out limitation the Widespread Shares issuable on the train of the Warrants) (or, if the Firm enters into an amalgamation, association or merger of the Firm with or into another company or different entity which results a change of the Widespread Shares into different shares or an trade of the Widespread Shares for different securities (together with securities of one other entity), such securities) proceed to be or are listed and posted for buying and selling on the TSX (or such different Canadian inventory trade acceptable to the Firm) and the New York Inventory Change (or such different United States inventory trade acceptable to the Firm).

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(4) For as long as the Firm is a reporting issuer or equal in Canada, it is going to make all requisite filings below relevant Canadian Securities Legal guidelines together with these vital to stay a reporting issuer not in default in every of the provinces and territories and different jurisdictions the place it’s or turns into a reporting issuer offered that the Firm shall not be required to adjust to this part following the completion of, and this part shall not be construed as limiting or limiting the Firm to comply with, a merger, amalgamation, association, enterprise mixture, take-over bid or like transaction even when the consideration being provided should not securities which might be so listed and posted for buying and selling that might outcome within the Firm ceasing to be a reporting issuer.

(5) Topic to part 3.13, the Firm will allot and reserve and preserve accessible a ample variety of Warrant Shares for issuance upon the train of Warrants issued by the Firm.

(6) The Firm will trigger the Warrant Shares occasionally subscribed for pursuant to the Warrants issued by the Firm hereunder, within the method herein offered, to be duly issued in accordance with the Warrants and the phrases hereof.

(7) The Firm will trigger any certificates representing the Warrant Shares occasionally to be acquired, pursuant to the Warrants within the method herein offered, to be duly issued and delivered in accordance with the Warrants and the phrases hereof.

(8) All Warrant Shares that shall be issued by the Firm upon train of the rights offered for herein shall be issued as absolutely paid and non-assessable Widespread Shares.

(9) The Firm will carry out and perform all the acts or issues to be finished by it as offered on this Indenture.

(10) The Firm will use its commercially affordable efforts to trigger the Warrant Agent to maintain open the register of Warrantholders through the Warrant Agent’s common enterprise hours and won’t take any motion or omit to take any motion which might have the impact of stopping the Warrantholders from receiving any of the Warrant Shares issuable upon train of the Warrants.

(11) The Firm will promptly notify the Warrant Agent and the Warrantholders in writing of any default below the phrases of this Indenture which stays unrectified for greater than 5 days following its prevalence.

(1) To the extent that the Firm at the moment has cannabis-related actions or pursuits, the Firm represents, warrants and agrees that, along with another illustration and guarantee on this Indenture:

(a)

its Hashish Permits are in good standing and it has all permits and licences required by any Canadian or different relevant Governmental Authority which might be vital or fascinating to lawfully conduct or keep, instantly or not directly, its cannabis-related actions and pursuits;

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(b)

it doesn’t have or maintain hashish or cannabis-related operations or pursuits in america of America (together with, with out limiting the generality of the foregoing, royalty entitlements or investments in a hashish enterprise), or promote or distribute hashish into america of America; and

(c)

it doesn’t have or maintain hashish or cannabis-related operations or pursuits in another nation (together with, with out limiting the generality of the foregoing, royalty entitlements or investments in a hashish enterprise) the place the manufacturing, distribution or possession of hashish is prohibited as a matter of the regulation of the relevant nation.

(2) To the extent that the Firm has cannabis-related actions or pursuits now or sooner or later, the Firm covenants and agrees that, along with another covenant or obligation on this Indenture, it shall:

(a)

instantly present to the Warrant Agent any (i) present Hashish Permits; and, (ii) different permits and licences required by another relevant Governmental Authority that it at the moment holds;

(b)

acquire Hashish Permits from any required Governmental Authority, and upon receipt of identical instantly present such Hashish Permits to the Warrant Agent;

(c)

always preserve and keep in good standing its Hashish Permits, and shall notify the Warrant Agent of any breach of this requirement instantly upon acquiring data thereof;

(d)

guarantee always that it continues to have all permits and licences required by any Canadian or different relevant Governmental Authority which might be vital or fascinating to lawfully conduct or keep, instantly or not directly, its cannabis-related actions and pursuits;

(e)

notify the Warrant Agent instantly of, and supply it with a replica of, any and all correspondence and notices that might moderately be anticipated to end in a lack of, or a penalty or different sanction below, any Hashish Allow or relevant regulation;

(f)

ship to the Warrant Agent, (i) at any affordable time upon demand by the Warrant Agent; and, (ii) in any occasion, instantly upon the breach of any illustration, guarantee or covenant contained on this Article, an Officer’s Certificates as to the data of such officer(s) of the Firm’s compliance or non-compliance with this Article, in every case attaching proof of the present standing of all Hashish Permits;

(g)

meet all report preserving and reporting necessities set out by all relevant Governmental Authorities, together with however not restricted to, preserving data of all cannabis-related actions and inventories, in addition to submitting ongoing stories; which, at a minimal, should embody, amongst different issues, the overall quantities (i) produced; (ii) launched on the market; (iii) acquired from different licensed producers; (iv) offered or transferred to registered shoppers, different licensed producers and licensed sellers; or, (v) in any other case retailed, with the related revenues;

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(h)

ship to the Warrant Agent, (i) at any affordable time upon demand by the Warrant Agent; and, (ii) at a minimal yearly, an Officer’s Certificates attaching and certifying to the mixture data described in Part 5.2(g) above, for the previous twelve (12) months;

(i)

stick with it and conduct its actions in accordance with all relevant legal guidelines and laws of all Governmental Authorities;

(j)

meet all itemizing necessities for every inventory trade upon which it’s listed referring to compliance with relevant regulation in all jurisdictions during which the Firm has pursuits;

(okay)

in no occasion, purchase or maintain hashish or cannabis-related operations or pursuits in america of America (together with, with out limiting the generality of the foregoing, royalty entitlements or investments in a hashish enterprise), or promote or distribute hashish into america of America, as long as the manufacturing, distribution or possession of hashish stays prohibited as a matter of any federal, territorial or state legal guidelines of america of America or is prohibited as a matter of any relevant United States of America Governmental Authority; and

(l)

in no occasion, purchase or maintain hashish or cannabis-related operations or pursuits in another nation (together with, with out limiting the generality of the foregoing, royalty entitlements or investments in a hashish enterprise) if the manufacturing, distribution or possession of hashish is prohibited as a matter of the regulation of the relevant nation.

(3) The Firm acknowledges and agrees that however another provision of this Indenture, any default of any provision of this Article or any disruption of the marketplace for monetary companies offered to hashish companies will end in the precise of the Warrant Agent, at its sole discretion, to resign as Warrant Agent efficient instantly, and the Firm hereby acknowledges such proper of the Warrant Agent to right away resign. For higher certainty, no treatment interval or advance discover is required to be given by the Warrant Agent earlier than the Warrant Agent might train such discretion.

(4) The Firm acknowledges and agrees, along with another provision herein referring to the resignation or alternative of the Warrant Agent, that the Warrant Agent might resign as Warrant Agent and be discharged from all additional duties and liabilities hereunder, with out discover, if the Warrant Agent moderately determines that (i) the Firm has develop into unable to proceed to lawfully function any a part of its hashish or cannabis-related enterprise or to personal or keep, instantly or not directly, its hashish or cannabis-related investments or operations; or (ii) the Warrant Agent could be prejudiced by persevering with to behave as Warrant Agent hereunder.

(5) The Firm shall trigger all of its subsidiaries to adjust to the provisions of this Article as if such subsidiaries had been expressly referred to in such provisions in alternative of references to the Firm, mutatis mutandis.

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5.3

Securities Qualification Necessities

If, within the opinion of counsel, any instrument is required to be filed with, or any permission, order or ruling is required to be obtained from, any securities regulatory authority or another step is required below any federal or provincial regulation of Canada earlier than the Warrant Shares could also be issued or delivered to a Warrantholder, the Firm covenants that it’s going to use its commercially affordable efforts to file such instrument, acquire such permission, order or ruling or take all such different actions, at its expense, as is required or acceptable within the circumstances.

5.4

Warrant Agent‘s Remuneration and Bills

The Firm covenants that it’s going to pay to the Warrant Agent occasionally affordable remuneration for its companies hereunder and can pay or reimburse the Warrant Agent upon its request for all affordable bills and disbursements of the Warrant Agent within the administration or execution of the duties and obligations hereby created (together with the affordable compensation and the disbursements of its counsel and all different advisers, consultants, accountants and assistants not repeatedly in its make use of) each earlier than any default hereunder and thereafter till all duties of the Warrant Agent hereunder shall be lastly and absolutely carried out. Any quantity owing hereunder and remaining unpaid after 30 days from the bill date will bear curiosity on the then present price charged by the Warrant Agent in opposition to unpaid invoices and shall be payable upon demand. This part shall survive the resignation or elimination of the Warrant Agent and/or the termination of this Indenture.

5.5

Efficiency of Covenants by Warrant Agent

Topic to part 9.7, if the Firm shall fail to carry out any of its covenants contained on this Indenture and the Firm has not rectified such failure inside 10 Enterprise Days after receiving written discover from the Warrant Agent of such failure, the Warrant Agent might notify the Warrantholders of such failure on the a part of the Firm or might itself carry out any of the mentioned covenants able to being carried out by it, however shall be below no obligation to carry out mentioned covenants. All affordable sums expended or disbursed by the Warrant Agent in so doing shall be repayable as offered in part 5.4. No such efficiency, expenditure or advance by the Warrant Agent shall be deemed to alleviate the Firm of any default hereunder or of its persevering with obligations below the covenants herein contained.

ARTICLE 6

ENFORCEMENT

6.1

Fits by Warrantholders

Topic to part 7.10, all or any of the rights conferred upon a Warrantholder by the phrases of the Warrants held by him and/or this Indenture could also be enforced by such Warrantholder by acceptable authorized proceedings however with out prejudice to the precise that’s hereby conferred upon the Warrant Agent to proceed in its personal identify to implement every and all the provisions herein contained for the advantage of the holders of the Warrants occasionally excellent. The Warrant Agent shall even have the ability at any time and occasionally to institute and to keep up such fits and proceedings as it could moderately be suggested shall be vital or advisable to protect and defend its pursuits and the pursuits of the Warrantholders.

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6.2

Limitation of Legal responsibility

The obligations hereunder (together with with out limitation below subsection 9.7(5)) should not personally binding upon, nor shall resort hereunder be needed to, the personal property of any of the previous, current or future administrators or shareholders of the Firm or any of the previous, current or future officers, staff or brokers of the Firm, and solely the property of the Firm (or any successor individual) shall be sure in respect hereof.

ARTICLE 7

MEETINGS OF WARRANTHOLDERS

7.1

Proper to Convene Conferences

The Warrant Agent might at any time and occasionally, and shall on receipt of a written request of the Firm or of a Warrantholders’ Request, convene a gathering of the Warrantholders offered that the Warrant Agent has been supplied with ample funds and is indemnified to its affordable satisfaction by the Firm or by the Warrantholders signing such Warrantholders’ Request in opposition to the prices, expenses, bills and liabilities that could be incurred in reference to the calling and holding of such assembly. If inside 15 Enterprise Days after the receipt of a written request of the Firm or a Warrantholders’ Request, and receipt of funding and indemnity given as aforesaid, the Warrant Agent fails to provide the requisite discover laid out in part 7.2 to convene a gathering, the Firm or such Warrantholders, because the case could also be, might convene such assembly. Each such assembly shall be held within the Metropolis of Vancouver, British Columbia or at such different place as could also be accredited or decided by the Warrant Agent.

At the least 21 days’ prior discover of any assembly of Warrantholders shall be given to the Warrantholders on the expense of the Firm within the method offered for in part 10.2 and a replica of such discover shall be delivered to the Warrant Agent except the assembly has been referred to as by it, and to the Firm except the assembly has been referred to as by it. Such discover shall state the date, time and place of the assembly, the final nature of the enterprise to be transacted and shall include such data as is fairly essential to allow the Warrantholders to make a reasoned resolution on the matter, however it shall not be vital for any such discover to set out the phrases of any decision to be proposed or any of the provisions of this Article 7. The discover convening any such assembly could also be signed by an acceptable officer of the Warrant Agent or of the Firm or the individual designated by such Warrantholders, because the case could also be.

The Warrant Agent might nominate in writing a person (who needn’t be a Warrantholder) to be chairman of the assembly and if no particular person is so nominated, or if the person so nominated isn’t current inside quarter-hour after the time fastened for the holding of the assembly, the Warrantholders current in individual or by proxy shall appoint a person current to be chairman of the assembly. The chairman of the assembly needn’t be a Warrantholder.

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Topic to the provisions of part 7.11, at any assembly of the Warrantholders a quorum shall encompass two Warrantholders current in individual or represented by proxy and representing not less than 20% of the mixture variety of Warrants then excellent. If a quorum of the Warrantholders shall not be current inside one-half hour from the time fastened for holding any assembly, the assembly, if summoned by the Warrantholders or on a Warrantholders’ Request, shall be dissolved; however in another case the assembly shall be adjourned to the identical day within the subsequent week (except such day isn’t a Enterprise Day during which case it shall be adjourned to the following following Enterprise Day) on the identical time and place to the extent doable and, topic to the provisions of part 7.11, no discover of the adjournment want be given. Any enterprise could also be introduced earlier than or handled at an adjourned assembly which may have been handled on the unique assembly in accordance with the discover calling the identical. On the adjourned assembly the Warrantholders current in individual or represented by proxy shall kind a quorum and will transact the enterprise for which the assembly was initially convened, however that they could not characterize not less than 20% of the mixture variety of Warrants then unexercised and excellent. No enterprise shall be transacted at any assembly, besides an adjourned assembly as described above, except a quorum is current on the graduation of enterprise.

The chairman of any assembly at which a quorum of the Warrantholders is current might, with the consent of the assembly, adjourn any such assembly, and no discover of such adjournment want be given besides such discover, if any, because the assembly might prescribe.

Each query submitted to a gathering shall be determined within the first place by a majority of the votes given on a present of fingers besides that votes on a rare decision shall be given within the method hereinafter offered. At any such assembly, except a ballot is duly demanded as herein offered, a declaration by the chairman {that a} decision has been carried or carried unanimously or by a selected majority or misplaced or not carried by a selected majority shall be conclusive proof of the actual fact.

On each extraordinary decision, and when demanded by the chairman or by a number of of the Warrantholders performing in individual or by proxy on another query submitted to a gathering and after a vote by present of fingers, a ballot shall be taken in such method because the chairman shall direct. Questions aside from these required to be decided by extraordinary decision shall be determined by a majority of the votes forged on the ballot. On a present of fingers, each one that is current and entitled to vote, whether or not as a Warrantholder or as proxy for a number of absent Warrantholders, or each, shall have one vote. On a ballot, every Warrantholder current in individual or represented by a proxy duly appointed by instrument in writing shall be entitled to at least one vote in respect of every complete Warrant then held by him. A proxy needn’t be a Warrantholder. The chairman of any assembly shall be entitled, each on a present of fingers and on a ballot, to vote in respect of the Warrants, if any, held or represented by him.

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Topic to the provisions of this Indenture, the Warrant Agent or the Firm with the approval of the Warrant Agent might occasionally make and occasionally differ such laws because it shall take into account vital or acceptable:

(a)

for the deposit of devices appointing proxies at such place and time because the Warrant Agent, the Firm or the Warrantholders convening the assembly, because the case could also be, might within the discover convening the assembly direct;

(b)

for the deposit of devices appointing proxies at some accredited place aside from the place at which the assembly is to be held and enabling particulars of such devices appointing proxies to be mailed or forwarded through facsimile earlier than the assembly to the Firm or to the Warrant Agent on the place the place the identical is to be held and for the voting of proxies so deposited as if the devices themselves had been produced on the assembly;

(c)

for the type of instrument appointing a proxy and the style during which the type of proxy could also be executed; and

(d)

usually for the calling of conferences of Warrantholders and the conduct of enterprise thereat together with setting a report date for Warrantholders entitled to obtain discover of or to vote at such assembly.

Any laws so made shall be binding and efficient and the votes given in accordance therewith shall be legitimate and shall be counted. Save as such laws might present, the one individuals who shall be acknowledged at any assembly as a Warrantholder, or be entitled to vote or be current on the assembly in respect thereof (topic to part 7.9), shall be Warrantholders or individuals holding proxies of Warrantholders.

7.9

Firm, Warrant Agent and Counsel could also be Represented

The Firm, the Warrantholders and the Warrant Agent, by their respective administrators, officers and staff and the counsel for every of the Firm, the Warrantholders and the Warrant Agent might attend any assembly of the Warrantholders and communicate thereat however shall not be entitled to vote except of their capacities as Warrantholders or proxies therefor.

7.10

Powers Exercisable by Extraordinary Decision

Along with all different powers conferred upon them by another provisions of this Indenture or by regulation, the Warrantholders at a gathering shall have the ability, topic to the TSX’s approval, exercisable occasionally by extraordinary decision:

(a)

to comply with any modification, alteration, compromise or association of the rights of Warrantholders and/or the Warrant Agent in its capability as warrant agent hereunder (topic to the Warrant Agent’s approval) or on behalf of the Warrantholders in opposition to the Firm, whether or not such rights come up below this Indenture or the Warrants or in any other case;

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(b)

to amend, modify or repeal any extraordinary decision beforehand handed or sanctioned by the Warrantholders;

(c)

to direct or authorize the Warrant Agent (topic to the Warrant Agent receiving funding and indemnity to its satisfaction) to implement any of the covenants on the a part of the Firm contained on this Indenture or the Warrants or to implement any of the rights of the Warrantholders in any method laid out in such extraordinary decision or to chorus from imposing any such covenant or proper;

(d)

to waive, authorize and direct the Warrant Agent to waive any default on the a part of the Firm in complying with any provisions of this Indenture or the Warrants both unconditionally or upon any situations laid out in such extraordinary decision;

(e)

to restrain any Warrantholder from taking or instituting any swimsuit, motion or continuing in opposition to the Firm for the enforcement of any of the covenants on the a part of the Firm contained on this Indenture or the Warrants or to implement any of the rights of the Warrantholders;

(f)

to direct any Warrantholder who, as such, has introduced any swimsuit, motion or continuing to remain or discontinue or in any other case cope with any such swimsuit, motion or continuing, upon cost of the prices, expenses and bills moderately and correctly incurred by such Warrantholder in connection therewith;

(g)

to assent to any change in or omission from the provisions contained on this Indenture or any ancillary or supplemental instrument which can be agreed to by the Firm, and to authorize the Warrant Agent to concur in and execute any ancillary or supplemental indenture embodying the change or omission;

(h)

with the consent of the Firm, such consent to not be unreasonably withheld, to take away the Warrant Agent or its successor in workplace and to nominate a brand new warrant agent or warrant brokers to take the place of the Warrant Agent so eliminated; and

(i)

to assent to any compromise or association with any creditor or collectors or any class or lessons of collectors, whether or not secured or in any other case, and with holders of any shares or different securities of the Firm.

7.11

Which means of “Extraordinary Decision“

(1) The expression “extraordinary decision” when used on this Indenture means, topic as hereinafter on this part 7.11 and in part 7.14 offered, a decision proposed at a gathering of Warrantholders duly convened for that function and held in accordance with the provisions of this Article 7 at which there are current in individual or by proxy not less than two Warrantholders representing not less than 20% of the mixture variety of all of the then excellent Warrants and handed by the affirmative votes of Warrantholders representing not lower than 662⁄3% of the mixture variety of all of the then excellent Warrants represented on the assembly and voted on the ballot for such decision.

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(2) If, at any assembly referred to as for the aim of passing a rare decision, Warrantholders representing not less than 20% of the mixture variety of all of the then excellent Warrants should not current in individual or by proxy inside one-half hour after the time appointed for the assembly, then the assembly, if convened by Warrantholders or on a Warrantholders’ Request, shall be dissolved; however in another case it shall stand adjourned to such day, being not lower than 10 Enterprise Days later, and to such place and time as could also be appointed by the chairman. Not lower than three Enterprise Days prior discover shall be given of the time and place of such adjourned assembly offered by press launch of the Firm. Such discover shall state that on the adjourned assembly the Warrantholders current in individual or represented by proxy shall kind a quorum however it shall not be essential to set forth the needs for which the assembly was initially referred to as or another particulars. On the adjourned assembly the Warrantholders current in individual or represented by proxy shall kind a quorum and will transact the enterprise for which the assembly was initially convened and a decision proposed at such adjourned assembly and handed by the requisite vote as offered in subsection 7.11(1) shall be a rare decision inside the which means of this Indenture however that Warrantholders representing not less than 20% of all of the then excellent Warrants should not current in individual or represented by proxy at such adjourned assembly.

(3) Votes on a rare decision shall at all times be given on a ballot and no demand for a ballot on a rare decision shall be vital.

It’s hereby declared and agreed that anyone or extra of the powers or any mixture of the powers on this Indenture said to be exercisable by the Warrantholders by extraordinary decision or in any other case could also be exercised occasionally and the train of any a number of of such powers or any mixture of powers occasionally shall not be deemed to exhaust the precise of the Warrantholders to train such powers or mixture of powers then or thereafter occasionally.

Minutes of all resolutions and proceedings at each assembly of Warrantholders as aforesaid shall be made and duly entered in books to be offered for that function by the Firm and any minutes as aforesaid, if signed by the chairman of the assembly at which resolutions had been handed or proceedings had, or by the chairman of the following succeeding assembly of the Warrantholders, shall be prima facie proof of the issues therein said and, till the opposite is proved, each assembly, in respect of the proceedings of which minutes shall have been made, shall be deemed to have been duly convened and held, and all resolutions handed thereat or proceedings taken, to have been duly handed and brought.

7.14

Devices in Writing

All actions that could be taken and all powers that could be exercised by the Warrantholders at a gathering held as offered on this Article 7 additionally could also be taken and exercised by Warrantholders representing a majority, or within the case of a rare decision not less than 662⁄3%, of the mixture variety of all of the then excellent Warrants by an instrument in writing signed in a number of counterparts by such Warrantholders in individual or by lawyer duly appointed in writing, and the expression “extraordinary decision” when used on this Indenture shall embody an instrument so signed.

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7.15

Binding Impact of Resolutions

Each decision and each extraordinary decision handed in accordance with the provisions of this Article 7 at a gathering of Warrantholders shall be binding upon all Warrantholders, whether or not current at or absent from such assembly, and each instrument in writing signed by Warrantholders in accordance with part 7.14 shall be binding upon all of the Warrantholders, whether or not signatories thereto or not, and every Warrantholder and the Warrant Agent (topic to the provisions for indemnity herein contained) shall be sure to provide impact accordingly to each such decision and instrument in writing.

7.16

Holdings by the Firm or Subsidiaries of the Firm Disregarded

In figuring out whether or not Warrantholders are current at a gathering of Warrantholders for the aim of figuring out a quorum or have concurred in any consent, waiver, extraordinary decision, Warrantholders’ Request or different motion below this Indenture, Warrants owned legally or beneficially by the Firm or its Subsidiaries or in partnership of which the Firm is instantly or not directly a celebration to shall be disregarded. The Firm shall present, upon the written request of the Warrant Agent, a certificates as to the registration particulars of any Warrants held by the Firm or its Subsidiaries or in partnership of which the Firm is instantly or not directly a celebration.

ARTICLE 8

SUPPLEMENTAL INDENTURES AND SUCCESSOR COMPANIES

8.1

Provision for Supplemental Indentures for Sure Functions

On occasion the Firm and the Warrant Agent might, topic to the provisions hereof and the TSX’s approval, and so they shall, when so required hereby, execute and ship by their correct officers, indentures or devices supplemental hereto, which thereafter shall kind half hereof, for any a number of or all the following functions:

(a)

offering for the issuance of extra Warrants hereunder and any consequential amendments hereto as could also be required by the Warrant Agent, counting on the recommendation of counsel;

(b)

setting forth or giving impact to changes within the utility of Article 3;

(c)

including to the provisions hereof such extra covenants and enforcement provisions as, within the opinion of counsel are vital or advisable, offered that the identical should not within the opinion of the Warrant Agent, counting on the recommendation of counsel, prejudicial to the pursuits of the Warrantholders as a gaggle;

(d)

giving impact to any extraordinary decision handed as offered in Article 7;

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(e)

making such provisions not inconsistent with this Indenture as could also be vital or fascinating with respect to issues or questions arising hereunder offered that such provisions should not, within the opinion of the Warrant Agent, counting on the recommendation of counsel, prejudicial to the pursuits of the Warrantholders as a gaggle;

(f)

including to or amending the provisions hereof in respect of the switch of Warrants, making provision for the trade of Warrants and making any modification within the type of the Warrant Certificates that doesn’t have an effect on the substance thereof;

(g)

amending any of the provisions of this Indenture or relieving the Firm from any of the obligations, situations or restrictions herein contained, offered that no such modification or reduction shall be or develop into operative or efficient if, within the opinion of the Warrant Agent, counting on the recommendation of counsel, such modification or reduction impairs any of the rights of the Warrantholders as a gaggle or of the Warrant Agent, and offered additional that the Warrant Agent might in its sole discretion decline to enter into any supplemental indenture that in its opinion might not afford enough safety to the Warrant Agent when the identical shall develop into operative;

(h)

offering added safety or profit to the Firm or the Warrantholders (as a gaggle); and

(i)

for another function not inconsistent with the phrases of this Indenture, together with the correction or rectification of any ambiguities, faulty or inconsistent provisions, errors, errors or clerical omissions herein, offered that, within the opinion of the Warrant Agent, counting on the recommendation of counsel, the rights of the Warrant Agent and the Warrantholders as a gaggle are on no account prejudiced thereby.

Within the case of the amalgamation, consolidation, association, merger or switch of the enterprise or belongings of the Firm as an entirety or considerably as an entirety to a different individual (a “successor firm“), the successor firm ensuing from the amalgamation, consolidation, association, merger or switch (if not the Firm) shall be sure by the provisions hereof and all obligations for the due and punctual efficiency and observance of every covenant and obligation contained on this Indenture to be carried out by the Firm and the successor firm shall by supplemental indenture passable in kind and substance to the Warrant Agent and executed and delivered by the successor firm to the Warrant Agent, expressly assume these obligations.

ARTICLE 9

CONCERNING THE WARRANT AGENT

9.1

Indenture Laws

(1) If and to the extent that any provision of this Indenture limits, qualifies or conflicts with a compulsory requirement of Relevant Laws, such obligatory requirement shall prevail.

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(2) The Firm and the Warrant Agent agree that every will always in relation to this Indenture and any motion to be taken hereunder observe and adjust to and be entitled to the advantage of Relevant Laws.

9.2

Rights and Duties of Warrant Agent

(1) The Warrant Agent accepts the duties and duties below this Indenture, solely as custodian, bailee and agent. No belief is meant to be, or is or can be, created hereby and the Warrant Agent shall owe no duties hereunder as a trustee.

(2) Within the train of the rights and duties prescribed or conferred by the phrases of this Indenture, the Warrant Agent shall act actually and in good religion and shall train the diploma of care, diligence and ability {that a} moderately prudent warrant agent would train in comparable circumstances. No provision of this Indenture shall be construed to alleviate the Warrant Agent from legal responsibility for its personal gross negligence, wilful misconduct, dangerous religion or fraud.

(3) The Warrant Agent shall not be sure to do or take any act, motion or continuing for the enforcement of any of the obligations of the Firm below this Indenture except and till it shall have acquired a Warrantholders’ Request specifying the act, motion or continuing that the Warrant Agent is requested to take. The duty of the Warrant Agent to begin or proceed any act, motion or continuing for the aim of imposing any rights of the Warrant Agent or the Warrantholders hereunder shall be conditional upon the Warrantholders furnishing, when required by discover in writing by the Warrant Agent, ample funds to begin or proceed such act, motion or continuing and an indemnity moderately passable to the Warrant Agent and its counsel to guard and maintain innocent the Warrant Agent, its officers, administrators, staff, brokers, successors and assigns in opposition to the prices, expenses and bills and liabilities to be incurred thereby and any loss and harm it could endure by motive thereof. Not one of the provisions contained on this Indenture shall require the Warrant Agent to expend or threat its personal funds or in any other case incur monetary legal responsibility within the efficiency of any of its duties or within the train of any of its rights or powers except indemnified and funded as aforesaid.

(4) The Warrant Agent might, earlier than commencing any act, motion or continuing, or at any time through the continuance thereof require the Warrantholders at whose occasion it’s performing to deposit with the Warrant Agent the Warrants held by them, for which Warrants the Warrant Agent shall situation receipts.

(5) Each provision of this Indenture that, by its phrases, relieves the Warrant Agent of legal responsibility or entitles it to depend on any proof submitted to it’s topic to the provisions of Relevant Laws.

(6) The Warrant Agent shall not be sure to provide any discover or do or take any act, motion or continuing by advantage of the powers conferred on it hereunder except and till it shall have been required to take action below the phrases hereof; nor shall the Warrant Agent be required to take discover of any default hereunder, except and till notified in writing of such default, which discover shall particularly set out the default desired to be delivered to the eye of the Warrant Agent and within the absence of such discover the Warrant Agent might for all functions of this Indenture conclusively assume that no default has occurred or been made within the efficiency or observance of the representations, warranties and covenants, agreements or situations herein contained. Any such discover shall on no account restrict any discretion herein given to the Warrant Agent to find out whether or not or not the Warrant Agent shall take motion with respect to any default.

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(7) On this Indenture, each time confirmations or directions are required to be given to the Warrant Agent, as a way to be legitimate, such confirmations and directions shall be in writing.

9.3

Proof, Consultants and Advisers

(1) Along with the stories, certificates, opinions and different proof required by this Indenture, the Firm shall furnish to the Warrant Agent such extra proof of compliance with any provision hereof and in such kind as could also be prescribed by Relevant Laws or because the Warrant Agent might moderately require by written discover to the Firm.

(2) Within the train of its rights and duties hereunder, the Warrant Agent might, whether it is performing in good religion, act and rely completely as to the reality of the statements and the accuracy of the opinions expressed therein, upon statutory declarations, opinions, stories, written requests, consents, or orders of the Firm, certificates of the Firm or different proof furnished to the Warrant Agent pursuant to any provision hereof or of Relevant Laws or pursuant to a request of the Warrant Agent. The Warrant Agent shall be below no duty in respect of the validity of this Indenture or the execution and supply hereof by or on behalf of the Firm or in respect of the validity or the execution of any Warrant Certificates by the Firm and issued hereunder, nor shall or not it’s accountable for any breach by the Firm of any covenant or situation contained on this Indenture or in any such Warrant Certificates; nor shall it by any act hereunder be deemed to make any illustration or guarantee as to the authorization or reservation of any securities to be issued upon the precise to accumulate offered for on this Indenture and/or in any Warrant or as as to if any securities will when issued be duly licensed or be validly issued and absolutely paid and non-assessable.

(3) At any time when it’s offered on this Indenture or below Relevant Laws that the Firm shall deposit with the Warrant Agent resolutions, certificates, stories, opinions, requests, orders or different paperwork, it’s supposed that the reality, accuracy and good religion on the efficient date thereof and the info and opinions said in all such paperwork so deposited shall, in every such case, be situations precedent to the precise of the Firm to have the Warrant Agent take the motion to be based mostly thereon.

(4) At any time when Relevant Laws requires that proof referred to in subsection 9.3(1) be within the type of a statutory declaration, the Warrant Agent might settle for the statutory declaration in lieu of a certificates of the Firm required by any provision hereof. Any such statutory declaration could also be made by a number of of the administrators or officers of the Firm and could also be relied upon by the Warrant Agent in good religion with out additional inquiry.

(5) Proof of the execution of an instrument in writing, together with a Warrantholders’ Request, by any Warrantholder could also be made by a certificates of a notary public or different individual with related powers that the individual signing such instrument acknowledged to him the execution thereof, or by an affidavit of a witness to such execution or in another method which the Warrant Agent might take into account enough and in respect of a company Warrantholder, shall embody a certificates of incumbency of such Warrantholder along with an authorized decision authorizing the one that indicators such instrument to signal such instrument.

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(6) The Warrant Agent might act and rely and shall be protected in performing and relying upon any decision, certificates, assertion, instrument, opinion, report, discover, request, consent, order, letter, or different paper doc believed by it to be real and to have been signed, despatched or introduced by or on behalf of the correct get together or events. The Warrant Agent has sole discretion and shall be protected in performing and relying upon any decision, certificates, assertion, instrument, opinion, report, discover, request, consent, order, letter or different paper doc acquired in facsimile or e-mail kind.

(7) The Warrant Agent might make use of or retain such counsel, accountants, engineers, appraisers or different consultants or advisers as it could moderately require for the aim of figuring out and discharging its duties hereunder and will pay affordable remuneration for all companies so carried out by any of them, with out taxation of prices of any counsel and shall not be accountable for any misconduct on the a part of any of them who has been chosen with due care by the Warrant Agent. Any affordable remuneration paid by the Warrant Agent shall be paid by the Firm in accordance with part 5.4.

(8) The Warrant Agent might act and rely and shall be protected in performing and relying in good religion on the opinion or recommendation of or data obtained from any counsel, accountant, appraiser, engineer or different professional or advisor, whether or not retained or employed by the Firm or the Warrant Agent, in relation to any matter arising in fulfilling its duties and obligations hereof.

(9) The Warrant Agent might, as a situation precedent to any motion to be taken by it below this Indenture, require such opinions, statutory declarations, stories, certificates or different proof because it, performing moderately, considers vital or advisable within the circumstances.

(10) The Warrant Agent isn’t required to expend or place its personal funds in danger in executing its duties and obligations.

9.4

Securities, Paperwork and Monies Held by Warrant Agent

Any securities, paperwork of title, monies or different devices which will at any time be held by the Warrant Agent topic to the duties and obligations hereof, for the advantage of the Firm, could also be positioned within the deposit vaults of the Warrant Agent or of any Schedule I Canadian chartered financial institution for safekeeping with any such financial institution (an “Accredited Financial institution“). All curiosity or different earnings acquired from the Warrant Agent in respect of such deposits and investments shall, topic to part 5.4, belong to the Firm and shall be paid to the Firm upon discharge of this Indenture. All quantities held by the Warrant Agent pursuant to this Settlement shall be held by the Warrant Agent for the Firm and the supply of the funds to the Warrant Agent shall not give rise to a debtor-creditor or different related relationship. The quantities held by the Warrant Agent are on the sole threat of the Firm and, with out limiting the generality of the foregoing, however topic to part 9.2(2), the Warrant Agent shall haven’t any duty or legal responsibility for any diminution of the funds which can outcome from any deposit made with an Accredited Financial institution pursuant to this part, together with any losses ensuing from a default by the Accredited Financial institution or different credit score losses (whether or not or not ensuing from such a default). The events hereto acknowledge and agree that the Warrant Agent may have acted prudently in depositing the funds at any Accredited Financial institution, and that the Warrant Agent isn’t required to make additional inquiries in respect of any such financial institution. The Warrant Agent might maintain money balances constituting half or all such monies and needn’t make investments identical. The Warrant Agent shall not be liable to account for any revenue to any events to this Indenture or to another individual or entity.

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9.5

Actions by Warrant Agent to Defend Pursuits

Topic to the provisions of this Indenture and Relevant Laws, the Warrant Agent shall have the ability to institute and to keep up such actions and proceedings as it could take into account vital or expedient to protect, defend or implement its pursuits and the pursuits of the Warrantholders.

9.6

Warrant Agent not Required to Give Safety

The Warrant Agent shall not be required to provide any bond or safety in respect of the execution of the duties and obligations of this Indenture or in any other case.

9.7

Safety of Warrant Agent

By the use of complement to the provisions of any regulation in the intervening time referring to warrant brokers, it’s expressly declared and agreed as follows:

(1) The Warrant Agent shall not be answerable for or by motive of any representations, statements of reality or recitals on this Indenture or within the Warrants (besides the illustration contained in part 9.9 or within the certificates of the Warrant Agent on the Warrants) or be required to confirm the identical and all such statements of reality or recitals are and shall be deemed to be made by the Firm.

(2) Nothing herein contained shall impose any obligation on the Warrant Agent to see to or to require proof of the registration or submitting (or renewal thereof) of this Indenture or any instrument ancillary or supplemental hereto.

(3) The Warrant Agent shall not be sure to provide discover to any individual or individuals of the execution hereof.

(4) The Warrant Agent shall not incur any legal responsibility or duty in any way or be in any approach accountable for the consequence of any breach on the a part of the Firm of any of the covenants or warranties herein contained or of any acts of any administrators, officers, staff, brokers or servants of the Firm.

(5) With out limiting any safety or indemnity of the Warrant Agent below another provision hereof, or in any other case at regulation, the Firm hereby agrees to indemnify and maintain innocent the Warrant Agent, its associates and their administrators, officers, brokers, staff, successors and assigns (the “Indemnified Events“) from and in opposition to any and all liabilities, losses, damages, penalties, claims, actions, fits, prices, bills and disbursements, together with affordable authorized or advisor charges and disbursements, of no matter type and nature which can at any time be imposed on, incurred by or asserted in opposition to the Indemnified Events, or any of them, whether or not at regulation or in fairness, in any approach attributable to or arising, instantly or not directly, in respect of any act, deed, matter or factor in any way made, finished acquiesced in or omitted in or about or in relation to the execution of the Indemnified Events’ duties, or another companies that Warrant Agent might present in reference to or in any approach referring to this Indenture. The Firm agrees that its legal responsibility hereunder shall be absolute and unconditional whatever the correctness of any representations of any third events and no matter any legal responsibility of third events to the Indemnified Events, and shall accrue and develop into enforceable with out prior demand or another precedent motion or continuing; offered that the Firm shall not be required to indemnify the Indemnified Events within the occasion of the gross negligence, wilful misconduct, dangerous religion or fraud of the Warrant Agent. This provision shall survive the resignation or elimination of the Warrant Agent, or the termination of this Indenture. The Warrant Agent shall not be below any obligation to prosecute or defend any motion or swimsuit in respect of this Indenture which, within the opinion of its counsel, might contain it in expense or legal responsibility, except the Firm shall, so typically as required, furnish the Warrant Agent with passable indemnity and funding in opposition to such expense or legal responsibility.

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(6) If any of the funds offered to the Warrant Agent hereunder are acquired by it within the type of an uncertified cheque or financial institution draft, the Warrant Agent shall delay the discharge of such funds and the associated Warrant Shares till such uncertified cheque has cleared the monetary establishment upon which the identical is drawn.

(7) The forwarding of a cheque or the sending of funds by wire switch by the Warrant Agent will fulfill and discharge the legal responsibility of any quantities because of the extent of the sum represented thereby except such cheque isn’t honoured on presentation, offered that within the occasion of the non-receipt of such cheque by the payee, or the loss or destruction thereof, the Warrant Agent, upon being furnished with affordable proof of such non-receipt, loss or destruction and indemnity moderately passable to it, will situation to such payee a alternative cheque for the quantity of such cheque.

(8) The Warrant Agent shall retain the precise to not act and shall not be answerable for refusing to behave if, attributable to a lack of know-how or for another motive in any way, the Warrant Agent, in its sole judgement, determines that such act may trigger it to be in non-compliance with any relevant anti-money laundering, anti-terrorist or financial sanctions laws, regulation or guideline. Additional, ought to the Warrant Agent, in its sole judgement, decide at any time that its performing below this Warrant Indenture has resulted in its being in non-compliance with any relevant anti-money laundering, anti-terrorist or financial sanctions laws, regulation or guideline, then it shall have the precise to resign on 10 days’ written discover to the Firm offered: (i) that the Warrant Agent’s written discover shall describe the circumstances of such non-compliance; and (ii) that if such circumstances are rectified to the Warrant Agent’s satisfaction inside such 10-day interval, then such resignation shall not be efficient.

(9) The Warrant Agent shall not be answerable for any error in judgment or for any act finished or step taken or omitted by it in good religion or for any mistake, in reality or regulation, or for something which it could do or chorus from doing in connection herewith besides arising out of its personal gross negligence, dangerous religion, willful misconduct or fraud.

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(10) However the foregoing, or another provision of this Indenture, any legal responsibility of the Warrant Agent shall be restricted, within the mixture, to the quantity of annual retainer charges paid by the Firm to the Warrant Agent below this Indenture within the 24 months instantly previous to the Warrant Agent receiving the primary discover of the declare. However another provision of this Indenture, and whether or not such losses or damages are foreseeable or unforeseeable, the Warrant Agent shall not be liable below any circumstances in any way for any (a) breach by another get together of Securities Legal guidelines or different rule of any securities regulatory authority, (b) misplaced earnings or (c) particular, oblique, incidental, consequential, exemplary, aggravated or punitive losses or damages.

9.8

Alternative of Warrant Agent

(1) The Warrant Agent might resign its appointment and be discharged from all additional duties and liabilities hereunder by giving to the Firm not lower than 60 days prior discover in writing or such shorter prior discover because the Firm might settle for as ample. The Warrantholders by extraordinary decision shall have the ability at any time to take away the prevailing Warrant Agent and to nominate a brand new Warrant Agent. Within the occasion of the Warrant Agent resigning or being eliminated as aforesaid or being dissolved, turning into bankrupt, going into liquidation or in any other case turning into incapable of performing hereunder, the Firm shall forthwith appoint a brand new Warrant Agent except a brand new Warrant Agent has already been appointed by the Warrantholders; failing such appointment by the Firm, the retiring Warrant Agent or any Warrantholder might apply to a decide of the Province of Ontario on the Firm’s expense, on such discover as such decide might direct, for the appointment of a brand new Warrant Agent; however any new Warrant Agent so appointed by the Firm or by the Court docket shall be topic to elimination as aforesaid by the Warrantholders. Any new Warrant Agent appointed below any provision of this part 9.8 shall be an organization licensed to hold on the enterprise of a switch agent or a belief firm within the Province of Ontario and, if required by Relevant Laws of another province, in such different province. On any such appointment the brand new Warrant Agent shall be vested with the identical powers, rights, duties and duties as if it had been initially named herein as Warrant Agent with none additional assurance, conveyance, act or deed; however there shall be instantly executed, on the expense of the Firm, all such conveyances or different devices as might, within the opinion of counsel, be vital or advisable for the aim of assuring the identical to the brand new Warrant Agent, offered that any resignation or elimination of the Warrant Agent and appointment of a successor Warrant Agent shall not develop into efficient till the successor Warrant Agent shall have executed an acceptable instrument accepting such appointment and, on the request of the Firm, the predecessor Warrant Agent, upon cost of its excellent remuneration and bills, shall execute and ship to the successor Warrant Agent an acceptable instrument transferring to such successor Warrant Agent all rights and powers of the Warrant Agent hereunder and all securities, paperwork of title and different devices and all monies and properties held by the Warrant Agent hereunder.

(2) Upon the appointment of a successor Warrant Agent, the Firm shall promptly notify the Warrantholders thereof within the method offered for in part 10.1.

(3) Any company into or with which the Warrant Agent could also be merged or consolidated or amalgamated, or to which all or considerably all the company belief enterprise is offered or any company succeeding to the inventory switch enterprise of the Warrant Agent, shall be the successor to the Warrant Agent hereunder with none additional act on its half or of any of the events hereto, offered that such company could be eligible for appointment as a brand new Warrant Agent below subsection 9.8(1).

– 45 –

(4) Any Warrants Authenticated or licensed however not delivered by a predecessor Warrant Agent could also be Authenticated or licensed by the brand new or successor Warrant Agent within the identify of the brand new or successor Warrant Agent.

9.9

Acceptance of Duties and Obligations

The Warrant Agent hereby accepts the duties and obligations on this Indenture declared and offered for and agrees to carry out the identical upon the phrases and situations herein set forth and agrees to carry all rights, pursuits and advantages contained herein on behalf of these individuals who develop into holders of Warrants occasionally issued below this Indenture.

9.10

Warrant Agent to not be Appointed Receiver

The Warrant Agent and any individual associated to the Warrant Agent shall not be appointed a receiver or receiver and supervisor or liquidator of all or any a part of the belongings or enterprise of the Firm or any Subsidiary or any partnership of which the Firm is instantly or not directly concerned.

9.11

Authorization to Stick with it Enterprise

The Warrant Agent represents to the Firm that it’s registered to hold on the enterprise of a switch agent and warrant agent below Relevant Laws within the Province of Ontario.

9.12

Securities Change Fee Certification

The Firm represents and warrants that it’s submitting with the SEC as a Overseas Personal Issuer (as such time period is outlined within the Securities Change Act of 1934) and has delivered to the Warrant Agent an Officers’ Certificates certifying such “reporting issuer” standing and different data because the Warrant Agent has requested, together with, however not restricted to, the Central Index Key that has been assigned for submitting functions. Ought to the Firm stop to file as a Overseas Personal Issuer, the Firm covenants to ship to the Warrant Agent an Officers’ Certificates (in a kind offered by the Warrant Agent) certifying a change in “reporting issuer” standing and such different data because the Warrant Agent might require at such given time. The Firm understands that the Warrant Agent is relying upon the foregoing illustration, guarantee and covenant as a way to meet sure SEC obligations with respect to these shoppers who’re submitting with the SEC.

ARTICLE 10

GENERAL

10.1

Discover to the Firm and the Warrant Agent

(1) Except herein in any other case expressly offered, any discover to be given hereunder to the Firm or the Warrant Agent shall be deemed to be validly given if delivered, if despatched by registered letter, postage pay as you go or if transmitted by facsimile or e-mail to the next addresses or facsimile numbers:

– 46 –

(a) If to the Firm, to:

Aurora Hashish Inc.

4818 31 Road East

Edmonton Worldwide Airport, Alberta

T9E 0V6

Consideration: Company Secretary

Electronic mail: jill@auroramj.com

(b) If to the Warrant Agent, to:

COMPUTERSHARE TRUST COMPANY OF CANADA

510 Burrard Road, third Ground

Vancouver, British Columbia

V6C 3B9

Consideration: Basic Supervisor, Company Belief

Electronic mail: corporatetrust.vancouver@computershare.com

and any discover given in accordance with the foregoing shall be deemed to have been acquired on the date of supply if that date is a Enterprise Day or, if mailed, on the fifth Enterprise Day following the date of the postmark on such discover or, if transmitted by facsimile or e-mail, on the following Enterprise Day following the date of transmission.

(2) The Firm or the Warrant Agent, because the case could also be, might occasionally notify the opposite within the method offered in subsection 10.1(1) of a change of handle which, from the efficient date of such discover and till modified by like discover, shall be the handle of the Firm or the Warrant Agent, because the case could also be, for all functions of this Indenture. A replica of any discover of change of handle given pursuant to this subsection 10.1(2) shall be accessible for inspection on the principal workplace of the Warrant Agent within the Metropolis of Vancouver, British Columbia by Warrantholders throughout regular enterprise hours.

(3) If, by motive of a strike, lockout or different work stoppage, precise or threatened, involving postal staff, any discover to be given to the Warrant Agent or to the Firm hereunder might moderately be thought of unlikely to achieve its vacation spot, the discover shall be legitimate and efficient solely whether it is delivered to an officer of the get together to which it’s addressed or whether it is delivered to that get together on the acceptable handle offered in subsection 10.1(1) by facsimile, e-mail or different technique of pay as you go, transmitted or recorded communication and any discover delivered in accordance with the foregoing shall be deemed to have been acquired on the date of supply to the officer or if delivered by facsimile, e-mail or different technique of pay as you go, transmitted, recorded communication on the primary Enterprise Day following the date of the sending of the discover by the individual giving the discover.

– 47 –

10.2

Discover to the Warrantholders

(1) Any discover to the Warrantholders below the provisions of this Indenture shall be deemed to be validly given if the discover is shipped by pay as you go mail or, if delivered by hand, to the holders at their addresses showing within the register of holders or if in any other case given within the method specified herein. Any discover so delivered shall be deemed to have been acquired on the date of supply if that date is a Enterprise Day or the Enterprise Day following the date of supply if such date isn’t a Enterprise Day or on the third Enterprise Day if delivered by mail. All notices could also be given to whichever one of many Warrantholders (if multiple) is called first within the acceptable register hereinbefore talked about, and any discover so given shall be ample discover to all Warrantholders and another individuals (if any) desirous about such Warrants. Unintentional error or omission in giving discover or unintentional failure to mail discover to any Warrantholder is not going to invalidate any motion or continuing based thereon.

(2) If, by motive of strike, lockout or different work stoppage, precise or threatened, involving postal staff, any discover to be given to the Warrantholders might moderately be thought of unlikely to achieve its vacation spot, the discover could also be given in a information launch disseminated by way of a newswire service, filed on SEDAR and posted on the Firm’s web site; offered that within the case of a discover convening a gathering of the holders of Warrants, the Warrant Agent might require such extra publications of that discover, in Toronto, Ontario or in different cities or each, as it could deem vital for the affordable notification of the holders of Warrants or to adjust to any relevant requirement of regulation or any inventory trade. Any discover so given shall be deemed to have been given on the day on which it has been printed in all the cities during which publication was required.

The Firm acknowledges that the Warrant Agent might, in the midst of offering companies hereunder, acquire or obtain monetary and different private details about such events and/or their representatives, as people, or about different people associated to the subject material hereof, and use such data for the next functions:

(a)

to offer the companies required below this Indenture and different companies that could be requested occasionally;

(b)

to assist the Warrant Agent handle its servicing relationships with such people;

(c)

to fulfill the Warrant Agent’s authorized and regulatory necessities; and

(d)

if Social Insurance coverage Numbers are collected by the Warrant Agent, to carry out tax reporting and to help in verification of a person’s identification for safety functions.

The Firm acknowledges and agrees that the Warrant Agent might obtain acquire, use and disclose private data offered to it or acquired by it in the midst of its performing as agent hereunder for the needs described above and, usually, within the method and on the phrases described in its privateness code, which the Warrant Agent shall make accessible on its web site, www.computershare.com, or upon request, together with revisions thereto. The Warrant Agent might switch private data to different corporations in or outdoors of Canada that present knowledge processing and storage or different help as a way to facilitate the companies it supplies.

– 48 –

Additional, the Firm agrees that it shall not present or trigger to be offered to the Warrant Agent any private data referring to a person who isn’t a celebration to this Indenture except that get together has assured itself that such particular person understands and has consented to the aforementioned makes use of and disclosures.

10.4

Third Celebration Pursuits

The Firm represents to the Warrant Agent that any account to be opened by, or curiosity to be held by the Warrant Agent in reference to this Indenture, for or to the credit score of such get together, both (i) isn’t supposed for use by or on behalf of any third get together; or (ii) is meant for use by or on behalf of a 3rd get together, during which case such get together hereto agrees to finish and execute forthwith a declaration within the Warrant Agent prescribed kind as to the particulars of such third get together.

10.5

Discretion of Administrators

Any matter offered herein to be decided by the administrators of their sole discretion and dedication so made can be conclusive.

10.6

Satisfaction and Discharge of Indenture

Upon the sooner of the Time of Expiry or the date by which there shall have been delivered to the Warrant Agent for train or cancellation in accordance with the provisions hereof all Warrants theretofore Authenticated or licensed hereunder, this Indenture, besides to the extent that Warrant Shares and any certificates therefor haven’t been issued and delivered hereunder or the Firm has not carried out any of its obligations hereunder, shall stop to be of additional impact in respect of the Firm, and the Warrant Agent, on written demand of and on the price and expense of the Firm, and upon supply to the Warrant Agent of a certificates of the Firm stating that each one situations precedent to the satisfaction and discharge of this Indenture have been complied with and upon cost to the Warrant Agent of the bills, charges and different remuneration payable to the Warrant Agent, shall execute correct devices acknowledging satisfaction of and discharging this Indenture. However the foregoing, the indemnities offered to the Warrant Agent by the Firm hereunder shall stay in full power and impact and survive the termination of this Indenture.

10.7

Provisions of Indenture and Warrants for the Sole Advantage of Events and Warrantholders

Nothing on this Indenture or the Warrant Certificates, expressed or implied, shall give or be construed to provide to any individual aside from the events hereto and the holders occasionally of the Warrants any authorized or equitable proper, treatment or declare below this Indenture, or below any covenant or provision therein contained, all such covenants and provisions being for the only real good thing about the events hereto and the Warrantholders.

– 49 –

10.8

Possession of Warrants

The Firm and the Warrant Agent might deem and deal with the Warrantholders as absolutely the proprietor thereof for all functions, and the Firm and the Warrant Agent shall not be affected by any discover or data on the contrary besides the place the Firm or the Warrant Agent is required to take discover by statute or by order of a courtroom of competent jurisdiction. The receipt of any such Warrantholder of the Warrant Shares which can be acquired pursuant thereto shall be discharge to the Firm and the Warrant Agent for a similar and neither the Firm nor the Warrant Agent shall be sure to inquire into the title of any such holder besides the place the Firm or the Warrant Agent is required to take discover by statute or by order of a courtroom of competent jurisdiction.

10.9

Indenture to Prevail

To the extent of any discrepancy or inconsistency between the phrases and situations of this Indenture and the Warrant Certificates, the phrases of this Indenture will prevail.

Besides as offered in subsection 9.8(3), this Indenture nor any advantages or burdens below this Indenture shall be assignable by the Firm or the Warrant Agent with out the prior written consent of the opposite get together, such consent to not be unreasonably withheld. Topic to the foregoing, this Indenture shall enure to the advantage of and be binding upon the Firm and the Warrant Agent and their respective successors (together with any successor by motive of amalgamation) and permitted assigns.

10.11

Counterparts and Formal Date

This Indenture could also be concurrently executed in a number of counterparts and by digital means, every of which when so executed shall be deemed to be an unique and such counterparts collectively shall represent one and the identical instrument and however their date of execution shall be deemed to bear the date set out on the high of the primary web page of this Indenture.

No get together shall be liable to the opposite, or held in breach of this Indenture, if prevented, hindered, or delayed within the efficiency or observance of any provision contained herein by motive of act of God, riots, terrorism, acts of battle, epidemics, pandemics, governmental motion or judicial order, earthquakes, or another related causes (together with, however not restricted to, mechanical, digital or communication interruptions, disruptions or failures). Efficiency instances below this Indenture shall be prolonged for a time period equal to the time misplaced due to any delay that’s excusable below this part.

If, in any jurisdiction, any provision of this Indenture or its utility to any get together or circumstance is restricted, prohibited or unenforceable, such provision will, as to such jurisdiction, be ineffective solely to the extent of such restriction, prohibition or unenforceability with out invalidating the remaining provisions of this Indenture and with out affecting the validity or enforceability of such provision in another jurisdiction or with out affecting its utility to different events or circumstances.

– 50 –

10.14

Rights of Rescission and Withdrawal for Holders

Ought to a Warrantholder train any authorized, statutory, contractual or different proper of withdrawal or rescission that could be accessible to it, and the Warrantholder’s funds which had been paid on train have already been launched to the Firm by the Warrant Agent, the Warrant Agent shall not be accountable for making certain the train is cancelled and a refund is paid again to the Warrantholder. In such circumstances, the Warrantholder shall search a refund instantly from the Firm and subsequently, the Firm, upon give up to the Firm or the Warrant Agent of any underlying Warrant Shares or different securities which will have been issued, or such different process as agreed to by the events hereto, shall instruct the Warrant Agent in writing, to cancel the train transaction and any such underlying Warrant Shares or different securities on the register, which can have already been issued upon the Warrant train. Within the occasion that any cost is acquired from the Firm by advantage of the holder being a shareholder for such Warrants that had been subsequently rescinded, such cost have to be returned to the Firm by such Warrantholder. The Warrant Agent shall not be below any obligation or obligation to take any steps to make sure or implement the return of the funds pursuant to this part, nor shall the Warrant Agent be in another approach accountable within the occasion that any cost isn’t delivered or acquired pursuant to this part. However the foregoing, within the occasion that the Firm supplies the refund to the Warrant Agent for distribution to the Warrantholder, the Warrant Agent shall return such funds to the Warrantholder as quickly as moderately practicable, and in so doing, the Warrant Agent shall incur no legal responsibility with respect to the supply or non-delivery of any such funds.

(Signature web page follows)

– 51 –

IN WITNESS WHEREOF the events hereto have executed this Indenture below the fingers of their correct officers in that behalf.

AURORA CANNABIS INC.
Per: “Glen Ibbott”
Licensed Signing Officer
COMPUTERSHARE TRUST COMPANY OF CANADA
Per: “Jennifer Wong”
Licensed Signing Officer
Per: “Jennifer Lesley Wong”
Licensed Signing Officer

[Warrant Indenture between Aurora Cannabis Inc. and Computershare Trust Company of Canada]

SCHEDULE A

FORM OF WARRANT CERTIFICATE

WARRANTS TO PURCHASE COMMON SHARES

OF AURORA CANNABIS INC.

(an organization included below the legal guidelines of British Columbia)

CUSIP No. 05156X165

ISIN No. CA05156X1657

Warrant Certificates Quantity: __________

Representing _______________ Warrants to
buy Widespread Shares

THIS CERTIFIES that, for worth acquired, the registered holder hereof, ___________________________ (the “holder“) is entitled, at any time at or earlier than 5:00 p.m. (Toronto time) on March 16, 2024 (the “Time of Expiry“), to accumulate, topic to adjustment in sure occasions, the variety of frequent shares (“Widespread Shares“) of Aurora Hashish Inc. (the “Firm“) specified above, as presently constituted, by surrendering to Computershare Belief Firm of Canada (the “Warrant Agent“) at its principal workplace in Vancouver, British Columbia, this Warrant Certificates with the duly accomplished and executed Train Type endorsed on the again of this Warrant Certificates, and accompanied by cost of $9.00 per Widespread Share (topic to adjustment in sure occasions) (the “Train Value“) by licensed cheque, financial institution draft or cash order in lawful cash of america payable to, or to the order of, the Firm at par on the above-mentioned workplace of the Warrant Agent.

The holder of this Warrant Certificates might buy lower than the variety of Widespread Shares which he’s entitled to buy on the train of the Warrants represented by this Warrant Certificates, during which occasion a brand new Warrant Certificates representing the Warrants not then exercised can be issued to the holder.

The Warrants evidenced hereby are exercisable on or earlier than the Time of Expiry, after which era the Warrants evidenced hereby shall be deemed to be void and of no additional power or impact.

This Warrant Certificates represents Warrants of the Firm issued or issuable below the provisions of a warrant indenture (which indenture along with all different devices supplemental or ancillary thereto is herein known as the “Warrant Indenture“) dated as of November 16, 2020, between the Firm and the Warrant Agent, as could also be amended occasionally, which accommodates particulars of the rights of the holders of the Warrants and the Firm and of the Warrant Agent in respect thereof and the phrases and situations upon which the Warrants are issued and held, all to the identical impact as if the provisions of the Warrant Indenture had been herein set forth, to all of which the holder of this Warrant Certificates by acceptance hereof assents. Except in any other case outlined herein, all capitalized phrases shall have the meanings ascribed to them within the Warrant Indenture. A replica of the Warrant Indenture can be accessible for inspection on the principal workplace of the Firm within the Metropolis of Vancouver, British Columbia. Within the occasion of any battle between the provisions contained on this Warrant Certificates and the provisions of the Warrant Indenture, the provisions of the Warrant Indenture shall prevail.

A-1

Upon acceptance hereof, the holder hereof hereby expressly waives the precise to obtain any fractional Widespread Shares upon the train hereof in full or partly and additional waives the precise to obtain any money or different consideration in lieu thereof. The Warrants represented by this Warrant Certificates shall be deemed to have been surrendered, and cost by licensed cheque, financial institution draft or cash order shall be deemed to have been made solely upon private supply thereof or, if despatched by put up or different technique of transmission, upon precise receipt thereof by the Warrant Agent at its workplace within the Metropolis of Vancouver, British Columbia.

Upon due train of the Warrants represented by this Warrant Certificates and cost of the Train Value, the Firm shall trigger to be issued to the individual(s) in whose identify(s) the Widespread Shares so subscribed for (offered that if the Widespread Shares are to be issued to an individual aside from the registered holder of this Warrant Certificates, the holder’s signature on the Train Type herein shall be assured by a Schedule I Canadian chartered financial institution, or by a medallion signature assure from a member of a acknowledged Signature Medallion Assure Program and the holder shall pay to the Firm or the Warrant Agent all relevant switch or related taxes and the Firm shall not be required to situation or ship certificates evidencing the Widespread Shares except or till the holder shall have paid the Firm or the Warrant Agent the quantity of such tax (or shall have glad the Firm that such tax has been paid or that no tax is due) are to be issued, the variety of Widespread Shares to be issued to such individual(s) and such individual(s) shall develop into a holder in respect of such Widespread Shares with impact from the date of such train, and upon due give up of this Warrant Certificates and all different documentation required, the Warrant Agent shall trigger the issuance of a certificates(s) representing such Widespread Shares to be issued inside 5 Enterprise Days after the train of the Warrants (or portion thereof) represented hereby.

Pursuant to part 4.2 of the Warrant Indenture, if at any time following the preliminary effectiveness of a shelf registration assertion filed with america Securities and Change Fee below the U.S. Securities Act of 1933, as amended, registering the Widespread Shares issuable upon train of the Warrants (a “Registration Assertion”) and previous to the Time of Expiry, the Firm determines that no Registration Assertion filed with america Securities and Change Fee is efficient, or the usage of any such Registration Assertion is suspended, no Warrantholder can be permitted to train Warrants except an exemption from the registration necessities of the U.S. Securities Act and relevant state securities legal guidelines is obtainable, and the Firm shall promptly present written discover of such dedication to the Warrant Agent. Upon receipt of such discover, the Warrant Agent shall present a replica thereof to every holder of Warrants, and ensure in writing that the then excellent Warrants might, till the sooner of (x) a Registration Assertion turning into efficient or ceasing to be suspended and any prospectus complement vital in relation thereto having been filed, or (y) the Time of Expiry, if the Present Market Value exceeds the Train Value, even be exercised via a “cashless train” during which the holder of Warrants shall be entitled to give up a Warrant to the Firm in trade for the issuance of the variety of Widespread Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), the place: (a) (A) equals the Present Market Value on the buying and selling day instantly previous the date of the receipt by the Warrant Agent of the discover of train; (b) (B) equals the Train Value per Widespread Share of such Warrant, as adjusted; and (c) (X) equals the variety of Widespread Shares that might in any other case be issuable upon train of such Warrant in accordance with its phrases via a money train quite than a cashless train.

A-2

The difficulty worth for every such Widespread Share to be issued pursuant to the cashless train of a Warrant can be equal to (B), as outlined above, and the overall situation worth for the mixture variety of Widespread Shares issued pursuant to the cashless train of a Warrant can be paid and glad in full by the give up to the Firm of such Warrant.

As well as, if the Firm determines at any time previous to the Expiry Date that U.S. state securities legal guidelines should not preempted with respect to workout routines of the Warrants, the Firm might by written discover to the Warrant Agent elect to allow workout routines of Warrants which might be topic to the legal guidelines of a number of U.S. jurisdictions to be exercised on a “cashless train” foundation, pursuant to the cashless train method set forth above.

Upon the receipt of such discover, the Warrant Agent shall present a replica thereof to every registered holder of Warrants, and ensure the Firm’s dedication in writing.

The holder acknowledges that the Warrants represented by this Warrant Certificates and the Widespread Shares issuable upon train hereof could also be provided, offered or in any other case transferred solely in compliance with all relevant securities legal guidelines.

No switch of any Warrant can be legitimate except entered on the register of transfers, upon give up to the Warrant Agent of the Warrant Certificates evidencing such Warrant, duly endorsed by, or accompanied by a switch kind or different written instrument of switch in kind passable to the Warrant Agent executed by the registered holder or his executors, directors or different authorized representatives or his or their lawyer duly appointed by an instrument in writing in kind and execution passable to the Warrant Agent. Topic to the provisions of the Warrant Indenture and upon compliance with the affordable necessities of the Warrant Agent, Warrant Certificates could also be exchanged for Warrant Certificates representing within the mixture an equal variety of Warrants. The Firm and the Warrant Agent might deal with the registered holder of this Warrant Certificates for all functions as absolutely the proprietor hereof. The holding of the Warrants represented by this Warrant Certificates shall not represent the holder hereof a holder of Widespread Shares nor entitle him to any proper or curiosity in respect thereof besides as herein and within the Warrant Indenture expressly offered.

The Warrant Indenture supplies for adjustment within the variety of Widespread Shares to be delivered upon train of the precise of buy hereby granted and to the Train Value in sure occasions therein set forth.

The Warrant Indenture accommodates provisions making binding upon all holders of Warrants excellent thereunder resolutions handed at conferences of such holders held in accordance with such provisions and devices in writing signed by the Warrantholders holding a specified share of the then excellent Warrants.

The Warrants and the Warrant Indenture shall be ruled by and carried out, construed and enforced in accordance with the legal guidelines of the Province of British Columbia and the federal legal guidelines of Canada relevant therein and shall be handled in all respects as British Columbia contracts. Time shall be of the essence hereof and of the Warrant Indenture.

A-3

The Firm might occasionally at any time previous to the Time of Expiry buy any of the Warrants by personal settlement or in any other case.

This Warrant Certificates shall not be legitimate for any function till it has been licensed by or on behalf of the Warrant Agent in the intervening time below the Warrant Indenture.

All greenback quantities herein are expressed within the lawful cash of america.

IN WITNESS WHEREOF the Firm has precipitated this Warrant Certificates to be signed by its duly licensed officer as of this ____ day of ____________________, 20___.

AURORA CANNABIS INC.
By:
Licensed Signing Officer
Licensed this ___ day of _____________
COMPUTERSHARE TRUST COMPANY OF CANADA
By:
Licensed Signing Officer

A-4

EXERCISE FORM

TO:

AURORA CANNABIS INC.

AND TO:

COMPUTERSHARE TRUST COMPANY OF CANADA

510 Burrard Road, third Ground

Vancouver, British Columbia V6C 3B9

The undersigned holder of the Warrants evidenced by this Warrant Certificates hereby workout routines the precise to accumulate: [Please complete (a) or (b) below.]

(a) ____________ Widespread Shares of Aurora Hashish Inc. pursuant to the precise of such holder to be issued, and hereby subscribes for, the Widespread Shares which might be issuable pursuant to the train of such Warrants on the phrases laid out in such Warrant Certificates and within the Warrant Indenture for an mixture train worth of $_________________ and encloses herewith an authorized cheque, financial institution draft or cash order in lawful cash of america payable to, or to the order of, Aurora Hashish Inc. at par in cost in stuffed with the subscription worth of the Widespread Shares hereby subscribed for; or

(b) ____________ Widespread Shares of Aurora Hashish Inc., if permitted pursuant to part 4.2 of the Warrant Indenture, via a “cashless train” during which the holder of Warrants shall be entitled to obtain a certificates for the variety of Widespread Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), the place (i) (A) equals the Present Market Value on the buying and selling day instantly previous the date of the receipt by the Warrant Agent of the discover of train; (ii) (B) equals the Train Value per Widespread Share of every Warrant, as adjusted; and (iii) (X) equals the variety of Widespread Shares that might in any other case be issuable upon train of the Warrants in accordance with their phrases via a money train quite than a cashless train, and the undersigned hereby agrees that the problem worth for every such Widespread Share pursuant to this cashless train of such Warrants is the same as (B), as outlined above, and the undersigned hereby surrenders all such Warrants to Aurora Hashish Inc. in full cost and satisfaction of the overall situation worth for such Widespread Shares pursuant to this cashless train of such Warrants.

Except in any other case outlined herein, all capitalized phrases shall have the meanings ascribed to them within the warrant indenture between Aurora Hashish Inc. and Computershare Belief Firm of Canada dated November 16, 2020 (the “Warrant Indenture“).

The undersigned hereby acknowledges that the undersigned is conscious that the Widespread Shares acquired on train could also be topic to restrictions on resale below relevant securities laws.

The undersigned hereby directs that the mentioned Widespread Shares be issued as follows:

NAME(S) IN FULL ADDRESS(ES) NUMBER OF
COMMON SHARES

(Please print. If securities are issued to an individual aside from the registered Warrantholder, the holder should pay to the Warrant Agent all relevant taxes and the signature of the holder have to be assured by a Schedule I Canadian chartered financial institution, or by a medallion signature assure from a member of a acknowledged Signature Medallion Assure Program).

A-5

DATED this ________ day of ______________, ____.

Signature of Warrantholder Signature Assure
Print identify
Handle
☐

Please examine this field if the securities are to be delivered on the workplace the place these Warrants are surrendered, failing which the securities can be mailed.

A-6

TRANSFER FORM

TO:

Aurora Hashish Inc. (the “Firm“)

AND TO:

COMPUTERSHARE TRUST COMPANY OF CANADA

510 Burrard Road, third Ground

Vancouver, British Columbia V6C 3B9

FOR VALUE RECEIVED, the undersigned transferor hereby sells, assigns and transfers unto

(Transferee)
(Handle)
(Social Insurance coverage Quantity)

___________________ of the Warrants registered within the identify of the undersigned transferor represented by the Warrant Certificates.

DATED this ________ day of ______________, ____.

A-7

Signature of Warrantholder

(Transferor)

Signature Assure
Print identify
Handle

REASON FOR TRANSFER – for US residents solely (the place the person(s) or company receiving the securities is a US resident). Please choose just one (see directions under).

☐ GIFT ☐ ESTATE ☐ PRIVATE SALE ☐ OTHER (OR NO CHANGE IN OWNERSHIP)

DATE OF EVENT (DATE OF GIFT, DEATH OR SALE): VALUE PER WARRANT ON THE DATE OF EVENT:

☐☐/☐☐/☐☐☐☐

$☐☐☐.☐☐☐ CAD OR☐ USD

CERTAIN REQUIREMENTS RELATING TO TRANSFERS – READ CAREFULLY

The signature(s) of the transferor(s) should correspond with the identify(s) as written upon the face of this certificates(s), in each specific, with out alteration or enlargement, or any change in any way. All securityholders or a legally licensed consultant should signal this manner. The signature(s) on this manner have to be assured in accordance with the switch agent’s then present pointers and necessities on the time of switch. Notarized or witnessed signatures should not acceptable as assured signatures. As on the time of closing, you might select one of many following strategies (though topic to vary in accordance with business observe and requirements):

•

Canada and the USA: A Medallion Signature Assure obtained from a member of a suitable Medallion Signature Assure Program (STAMP, SEMP, NYSE, MSP). Many industrial banks, financial savings banks, credit score unions, and all dealer sellers take part in a Medallion Signature Assure Program. The Guarantor should affix a stamp bearing the precise phrases “Medallion Assured”, with the right prefix masking the face worth of the certificates.

A-8

•

Canada: A Signature Assure obtained from a licensed officer of the Royal Financial institution of Canada, Scotia Financial institution or TD Canada Belief. The Guarantor should affix a stamp bearing the precise phrases “Signature Assured”, signal and print their full identify and alpha numeric signing quantity. Signature Ensures should not accepted from Treasury Branches, Credit score Unions or Caisse Populaires except they’re members of a Medallion Signature Assure Program. For company holders, company signing resolutions, together with certificates of incumbency, are additionally required to accompany the switch, except there’s a “Signature & Authority to Signal Assure” Stamp affixed to the switch (versus a “Signature Assured” Stamp) obtained from a licensed officer of the Royal Financial institution of Canada, Scotia Financial institution or TD Canada Belief or a Medallion Signature Assure with the right prefix masking the face worth of the certificates.

•

Outdoors North America: For holders situated outdoors North America, current the certificates(s) and/or doc(s) that require a assure to a neighborhood monetary establishment that has a corresponding Canadian or American affiliate which is a member of a suitable Medallion Signature Assure Program. The corresponding affiliate will prepare for the signature to be over-guaranteed.

OR

The signature(s) of the transferor(s) should correspond with the identify(s) as written upon the face of this certificates(s), in each specific, with out alteration or enlargement, or any change in any way. The signature(s) on this manner have to be assured by a licensed officer of Royal Financial institution of Canada, Scotia Financial institution or TD Canada Belief whose pattern signature(s) are on file with the switch agent, or by a member of a suitable Medallion Signature Assure Program (STAMP, SEMP, NYSE, MSP). Notarized or witnessed signatures should not acceptable as assured signatures. The Guarantor should affix a stamp bearing the precise phrases: “SIGNATURE GUARANTEED”, “MEDALLION GUARANTEED” OR “SIGNATURE & AUTHORITY TO SIGN GUARANTEE”, all in accordance with the switch agent’s then present pointers and necessities on the time of switch. For company holders, company signing resolutions, together with certificates of incumbency, may also be required to accompany the switch except there’s a “SIGNATURE & AUTHORITY TO SIGN GUARANTEE” Stamp affixed to the Type of Switch obtained from a licensed officer of the Royal Financial institution of Canada, Scotia Financial institution or TD Canada Belief or a “MEDALLION GUARANTEED” Stamp affixed to the Type of Switch, with the right prefix masking the face worth of the certificates.

REASON FOR TRANSFER – FOR US RESIDENTS ONLY

Per US IRS laws, Computershare is required to request price foundation data from US securityholders. Please point out the explanation for requesting the switch in addition to the date of occasion referring to the explanation. The occasion date isn’t the day during which the switch is finalized, however quite the date of the occasion which led to the switch request (i.e. date of present, date of dying of the securityholder, or the date the personal sale came about).

A-9

NOTES:

1.

The signature to this switch should correspond with the identify as recorded on the Warrants in each specific with out alteration or enlargement or any change no matter. The signature of the individual executing this switch have to be assured by a Schedule I Canadian chartered financial institution, or by a medallion signature assure from a member of a acknowledged Signature Medallion Assure Program.

2.

Warrants shall solely be transferable in accordance with the Warrant Indenture between Aurora Hashish Inc. (the “Firm“) and Computershare Belief Firm of Canada (the “Warrant Agent“) dated as of November 16, 2020, relevant legal guidelines and the principles and insurance policies of any relevant inventory trade.

A-10

Disclaimer

Aurora Hashish Inc. printed this content material on 28 November 2022 and is solely accountable for the data contained therein. Distributed by Public, unedited and unaltered, on 28 November 2022 11:04:07 UTC.

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Publicnow 2022

All information about AURORA CANNABIS INC.

Analyst Suggestions on AURORA CANNABIS INC.

Gross sales 2022 221 M
165 M
165 M
Internet earnings 2022 -1 718 M
-1 284 M
-1 284 M
Internet money 2022 170 M
127 M
127 M
P/E ratio 2022 -0,21x
Yield 2022 –
Capitalization 580 M
433 M
433 M
EV / Gross sales 2021 8,96x
EV / Gross sales 2022 1,52x
Nbr of Workers 1 338
Free-Float 99,8%

Chart AURORA CANNABIS INC.



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Aurora Cannabis Inc. Technical Analysis Chart | MarketScreener

Technical evaluation tendencies AURORA CANNABIS INC.

Quick Time period Mid-Time period Lengthy Time period
Tendencies Bullish Impartial Bearish

Earnings Assertion Evolution

Promote

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Imply consensus HOLD
Variety of Analysts 13
Final Shut Value 1,78 CAD
Common goal worth 2,42 CAD
Unfold / Common Goal 35,9%




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