WARRANT TO PURCHASE COMMON STOCKWarrant to Purchase Common Stock • October 26th, 2007 • Medical Discoveries Inc • Pharmaceutical preparations • California
THIS WARRANT CERTIFIES THAT for value received, _________________________, or its registered assigns (hereinafter called the “Holder”) is entitled to purchase from Medical Discoveris, Inc., a Utah corporation (hereinafter called the “Company”), the above referenced number of fully paid and nonassessable shares (the “Shares”) of common stock, no par value (the “Common Stock”) of Company, at the Warrant Price per Share referenced above; the number of shares purchasable upon exercise of this Warrant referenced above being subject to adjustment from time to time as described herein. This Warrant is issued in connection with that certain Release and Settlement Agreement dated as of October 17, 2007, by and among the Company, Holder and the other parties therein named (the “Settlement Agreement”). The exercise of this Warrant shall be subject to the provisions, limitations and restrictions contained herein.
RELEASE AND SETTLEMENT AGREEMENTRelease and Settlement Agreement • October 26th, 2007 • Medical Discoveries Inc • Pharmaceutical preparations • California
THIS RELEASE AND SETTLEMENT AGREEMENT (this “Agreement”) is entered into as of October 19, 2007 by and between MEDICAL DISCOVERIES, INC., a Utah corporation (the “Company”), and MERCATOR MOMENTUM FUND, LP, MONARCH POINTE FUND, LTD., and MERCATOR MOMENTUM FUND III, LP, each a private investment entity (the foregoing three investment funds are hereinafter collectively referred to as “MAG”).
