EXHIBIT 10.5

 

EXTENSION OF WARRANT AGREEMENT

December 7, 2022

 

THIS EXTENSION OF WARRANT AGREEMENT (this “Agreement”) is made and entered into as of December 7, 2022, by and between Clayton A. Struve (the “Holder”) and Know Labs, Inc., a Nevada corporation f/k/a Visualant, Incorporated (the “Company”).

 

RECITALS

 

WHEREAS, the Holder owns those certain warrants to purchase shares in the Company, as set forth in Schedule A attached hereto and incorporated herein by reference (the “Warrant(s)”) (capitalized terms used herein and not otherwise defined shall have the meanings set forth in the respective Warrants);

 

WHEREAS, the Warrants currently have varying Expiration Dates throughout 2024; and

 

WHEREAS, on the date hereof, the Holder and the Company extended the maturity dates of certain promissory notes and debentures held by the Holder, and as consideration for such extension, the Company wishes to amend the Warrants to extend the Expiration Dates by one (1) year from the currently stated Expiration Dates, as set forth in Schedule A (the “Amended Expiration Dates”).

 

AGREEMENT

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree to the following.

 

1. Amendment of Expiration Date. The Expiration Dates of the Warrants are hereby amended to the Amended Expiration Date as set forth in Schedule A attached hereto and incorporated herein by reference.

 

2. Effect of Amendment. Except as specifically set forth in this Agreement, the terms of the Warrants remain in full force and effect.

 

3. Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

Company:

Holder:

 

 

 

 

 

KNOW LABS, INC. 

CLAYTON A. STRUVE 

 

 

 

 

 

By:

/s/ Ronald P. Erickson

By:

/s/ Clayton A. Struve

 

Name:

Ronald P. Erickson

Clayton A. Struve

 

Title:

Chairman

 

 

 

 

 

1

 

 

SCHEDULE A

 

Warrant No./Class

 

Issue Date

 

No. Warrant

Shares

 

 

Exercise

Price

 

 

Current

Expiration

Date

 

Amended

Expiration

Date

 

Clayton A. Struve Warrant

 

08-14-2017

 

 

1,440,000

 

 

$ 0.25

 

 

08-13-2024

 

08-13-2025

 

Clayton A. Struve Warrant

 

12-12-2017

 

 

1,200,000

 

 

$ 0.25

 

 

12-11-2024

 

12-11-2025

 

Clayton A. Struve Warrant

 

08-04-2016

 

 

1,785,715

 

 

$ 0.25

 

 

08-04-2024

 

08-04-2025

 

Clayton A. Struve Warrant

 

02-28-2018

 

 

1,344,000

 

 

$ 0.25

 

 

02-28-2024

 

02-28-2025

 

 

 

2