COMMON STOCK PURCHASE WARRANTCommon Stock Purchase Warrant • April 10th, 2018 • Royale Energy, Inc. • Crude petroleum & natural gas • Delaware
THIS CERTIFIES THAT, for value received, [________] or its assigns (the “Holder”) is entitled to purchase, and Royale Energy, Inc., a Delaware 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 the “Issue Date” listed above, and on or prior to the close of business on the five (5) year anniversary of the Issue Date (the “Termination Date”) but not thereafter,up to 4,000,000 shares (as subject to adjustment hereunder, the “Warrant Shares”) of Common Stock, par value $0.001 per share (the “Common Stock”), of the Company, at the “Exercise Price.” The initial Exercise Price of one share of Common Stock under this Warrant shall be $0.01, subject to adjustment as provided herein.
ROYALE ENERGY, INC. COMMON STOCK WARRANTCommon Stock Purchase Warrant • August 5th, 2016 • Royale Energy Inc • 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 the “Initial Exercise Date” listed above, and on or prior to the close of business on the two (2) 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.