SECURITIES PURCHASE AGREEMENTSecurities Purchase Agreement • November 30th, 2015 • Royale Energy Inc • Crude petroleum & natural gas • California
This Securities Purchase Agreement (this “Agreement”) is dated as of November 25, 2015, between Royale Energy, Inc., a California corporation (the “Company”), and the purchaser identified on the signature page hereto (the “Purchaser”).
ROYALE ENERGY, INC. COMMON STOCK WARRANTRoyale Energy Inc • November 30th, 2015 • Crude petroleum & natural gas • California
THIS CERTIFIES THAT, for value received, [________] or its assigns (the “Holder”) is entitled to purchase, and Royale Energy, Inc., a California corporation (the “Company”), promises and agrees to sell and issue to the Holder, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after November __, 2016 (the “Initial Exercise Date”) and on or prior to the close of business on the three (3) year anniversary of the Initial Exercise Date (the “Termination Date”) but not thereafter, up to [_________] shares (as subject to adjustment hereunder, the “Warrant Shares”) of Common Stock, no par value per share (the “Common Stock”), of the Company, at the Exercise Price. The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 1.
