EXHIBIT 4.136
PURCHASE AGREEMENT
THIS AGREEMENT dated for reference the 11th day of March, 2008 (the "Effective
Date")
BETWEEN:
MONETA PORCUPINE MINES INC.
00 Xxxxx Xxxxxx
Xxxxxxx, Xxxxxxx X0X 0X0
Telephone: (000) 000-0000
(the "Vendor")
OF THE FIRST PART
AND:
XXXXXX GOLD CORP.
#000 - 000 Xxxx Xxxxxxxx Xxxxxx
Xxxxxxxxx, Xxxxxxx Xxxxxxxx X0X 0X0
Telephone: (000) 000-0000
(the "Purchaser")
OF THE SECOND PART
WHEREAS:
A. the Vendor is the recorded and beneficial owner of certain mining
claims known as the Loveland, Xxxxx and Kamiscotia Properties, more particularly
described in Exhibit "1" attached hereto and forming a part of this Agreement
(the "Property");
B. the Vendor has agreed to sell to the Purchaser and the Purchaser has
agreed to purchase from the Vendor the Property upon terms and subject to the
conditions herein contained (the "Transaction").
NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the premises and
the mutual covenant, agreements, representations, warranties and payments herein
contained, the parties agree as follows:
1. PURCHASE AND SALE
1.1 The Vendor agrees to sell to the Purchaser and the Purchaser
agrees to purchase from the Vendor the Property all on the
terms and conditions set forth in this Agreement.
1.2 The purchase price (the "Purchase Price") payable by the
Purchaser to the Vendor for the Property shall be:
(a) $500,000 cash, payable as follows:
(i) $200,000 within 10 days of the receipt by
both parties hereto of regulatory approval
of the Transaction;
(ii) $150,000 on or before the date which is 18
months from the Effective Date; and
(iii) $150,000 on or before the date which is 36
months from the Effective Date;
(b) 1,350,000 common shares of the Purchaser (the
"Payment Shares"), issuable to the Vendor as follows:
(i) 540,000 common shares within 10 days of the
receipt by both parties hereto of regulatory
approval of the Transaction;
(ii) 405,000 common shares on or before the date
which is 18 months from the Effective Date
without any hold period; and
(iii) 405,000 common shares on or before the date
which is 36 months from the Effective Date
without any hold period.
Upon completion of the payments referred to in subparagraphs 1.2 (a) and (b),
the Vendor will deliver to the Purchaser, upon request, originally signed
conveyancing documentation in recordable form, in form and content satisfactory
to Counsel for the Purchaser, sufficient to transfer all of the Vendors'
interest in and to the Property into the name of the Purchaser or a
representative of the Purchaser.
In the event of a breach of any payment under subparagraphs 1.2(a) and (b), all
payments under subparagraphs 1.2(a) and (b) shall become immediately due and
payable upon notice of default from the Vendor to the Purchaser and the Vendors'
interest in and to the Property shall remain with the Vendor. The Purchaser
shall have a 30-day period from the date of delivery of such default notice to
cure the default by making the payments then due under subparagraphs 1.2(a) and
(b).
2. REPRESENTATIONS, WARRANTIES, COVENANTS AND INDEMNITIES
2.1 Each of the Vendor and the Purchaser represents and warrants
to each other that:
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(a) it is a company duly incorporated, organized and
validly subsisting under the laws of its
incorporating jurisdiction and is duly organized and
qualified to carry on business in Ontario;
(b) it has full power and authority to carry on its
business and to enter into this Agreement and any
agreement or instrument referred to or contemplated
by Agreement;
(c) neither the execution and delivery of this Agreement
nor any of the agreements referred to herein or
contemplated hereby, nor the consummation of the
transactions hereby contemplated conflict with,
result in the breach of or accelerate the performance
required by, any agreement to which it is a party;
and
(d) the execution and delivery of this Agreement and the
agreements contemplated hereby will not violate or
result in the breach of the laws of any jurisdiction
applicable or pertaining thereto or of its constating
documents.
2.2 The Vendor hereby represents and warrants to the Purchaser
that:
(a) it owns an undivided 100% interest in the Property,
subject to certain underlying agreements described in
more detail in Exhibit "2" (the "Underlying
Agreements");
(b) the Property is accurately described in Exhibit "1",
and is in good standing under the laws of Ontario
free and clear of all liens, charges and
encumbrances, subject to the Underlying Agreement;
(c) there is no agreement respecting the Property to
which the Vendor is a party other than this Agreement
and no person, firm or corporation has any
proprietary or possessory interest in the Property
except for the Underlying Agreement;
(d) the Vendor has delivered, or will deliver, to the
Purchaser all technical information in its possession
and any information concerning title to the Property;
(e) there are no pending or threatened actions, suits,
claims or proceedings regarding the Property of which
the Vendor is aware; and
(f) it has advised the Purchaser of all of the material
information relating to the mineral potential of the
Property of which the Vendor has knowledge.
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2.3 The Purchaser hereby represents, warrants and covenants to the
Vendor that:
(a) the Purchaser is a reporting issuer in good standing
in the Province of British Columbia and there is no
cease-trade order outstanding against the Purchaser
in any jusridiction and it will use reasonable
commercial efforts to maintain such standing until
all of the Payment Shares are issued;
(b) The Purchaser's common shares are listed for trading
on the TSX-Venture Exchange, and it will use
reasonable commercial efforts to maintain such
listing until all of the Payment Shares are issued;
(c) The Payment Shares have been reserved for issuance to
the Vendor; and
(d) None of the Payment Shares will have a hold period
exceeding four months and one day from the Effective
Date.
2.4 The representations and warranties of the Purchaser and Vendor
herein before set out, form a part of this Agreement and are
conditions upon which each has relied on in entering into this
Agreement and shall survive for a period of 36 months from the
Effective Date.
2.5 Each party shall indemnify and save the other harmless from
all loss, damage, costs, actions and suits arising out of or
in connection with any breach of any representation, warranty,
covenant, agreement or condition contained in this Agreement.
2.6 The Purchaser shall indemnify and save the Vendor harmless
from all loss damage, costs, actions and suits arising out of
or in connection with any exploration activity conducted by
the Purchaser on the Property.
2.7 Each party acknowledges and agrees that they have entered into
this Agreement relying on the warranties and representations
and other terms and conditions of this Agreement and that no
information which is now known or which may hereafter become
known to the parties or its officers, directors or
professional advisors shall limit or extinguish the right to
indemnity hereunder. Each party may deduct the amount of any
such loss or damage from any amounts payable by it to the
other party hereunder.
3. ROYALTIES
3.1 The Property has various underlying royalty interests payable
pursuant to the Underlying Agreements (the "Royalty
Interest(s)") that the Purchaser will try to negotiate the
purchase of, with assistance from the Vendor, whereby each of
the parties shall be entitled to half of the Royalty Interest
so purchased. The Vendor acknowledges that all the Underlying
Agreements have been provided to the Purchaser and the
Purchaser acknowledges receipt
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thereof and agrees to be bound by their terms. Further, the
Purchaser acknowledges that restaking will be completed at the
most easterly portion of the claims forming part of the
agreement with Xxx Xxxxx referred to in Exhibt 2 and these
staked claims will form part of this Agreement and be subject
to the net smelter return referred to in the agreement with
Xxx Xxxxx referred to in Exhibit 2,
4. NOTICE
4.1 All notices, demands and payments required or permitted to be
given under this Agreement shall be in writing and personally
delivered to the address of the intended recipient set forth
on the first page of this Agreement or at such other address
as may from time to time be notified by any of the parties in
the manner provided in this Agreement.
5. GENERAL
5.1 All references to monies hereunder are references to dollars
of Canada
5.2 The parties will execute such further and other documents and
do such further and other things as may be necessary or
convenient to carry out and give effect to the intent of this
Agreement.
5.3 This Agreement constitutes the entire agreement between the
parties and, except as hereafter set out, replaces and
supersedes all prior agreements, memoranda, correspondence,
communications, negotiations and representations, whether oral
or written, express or implied, statutory or otherwise between
the parties with respect to the subject matter herein.
5.4 Time shall be of the essence in the performance of this
Agreement.
5.5 This Agreement shall enure to the benefit of and be binding
upon the parties hereto and their respective successors and
permitted assigns.
5.6 If any provision of this Agreement is wholly or partially
invalid, the Agreement shall be interpreted as if the invalid
provision had not been a part hereof so that the invalidity
shall not affect the validity of the remainder of the
Agreement which shall be construed as if the Agreement had
been executed without the invalid portion. It is hereby
declared to be the intention of the parties that this
Agreement would have been executed without reference to any
portion which may, for any reason, hereafter be declared or
held invalid.
5.7 This Agreement shall be governed by and construed according to
the laws of Ontario.
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5.8 The headings appearing in this Agreement are inserted for
convenience of reference only and shall not affect the
interpretation of this Agreement.
5.9 Disputes related to this Agreement in any way shall be
delivered in writing to the other party with the provision for
a response period of 10 business days. Failing satisfactory
resolution of the dispute within such 10 business days, either
party may refer the matter to arbitration under the
Arbitration Act for final determination.
IN WITNESS WHEREOF the parties hereto have executed these presents as of the day
and year first above written.
MONETA PORCUPINE MINES INC.
Per: BY: /S/ XXXXX X. XXXXX
------------------------------------
Authorized Signatory
Xxxxx X. Xxxxx
President & Chief Executive Officer
I have authority to bind the Corporation
XXXXXX GOLD CORP. )
)
)
Per: BY: /S/ XXXXXXX X. XXXXXX )
------------------------------------ )
Authorized Signatory )
)
XXXXXXX X. XXXXXX, PRESIDENT )
------------------------------------------------- )
Name & Title
I have authority to bind the Corporation
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"EXHIBIT 1"
The Property consists of the following:
LOVELAND PROPERTY:
The Loveland Property consists of two mining leases comprising 20 units in
Loveland Township and two staked claims in Xxxxx Township and three staked
claims in Loveland Township.
Mining Leases
-------------------- --------------------- ------------------ ------------------------- -----------------------
TOWNSHIP LEASE NUMBER DESCRIPTION ANNIVERSARY DATE HECTARES
-------------------- --------------------- ------------------ ------------------------- -----------------------
Loveland 107241 P91790-95 February 1, 1999 106.675
-------------------- --------------------- ------------------ ------------------------- -----------------------
Loveland 107503 CLM268 June 1, 2004 164.132
-------------------- --------------------- ------------------ ------------------------- -----------------------
Mining Claims
-------------------- --------------------- ------------------ ------------------------- -----------------------
TOWNSHIP CLAIM NUMBER # OF UNITS RECORDING DATE CLAIMS DUE DATE
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxx 1248422 1 June 1, 2001 June 1, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxx 4211056 1 June 9, 2006 June 9, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Loveland 1182789 2 February 3, 1995 February 3, 2013
-------------------- --------------------- ------------------ ------------------------- -----------------------
Loveland 1248421 2 June 1, 2001 June 1, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Loveland 1248425 1 June 1, 2001 June 1, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
XXXXX PROPERTY:
The Xxxxx Property consists of one mining lease comprising five units in Xxxxx
Township.
Mining Lease
-------------------- --------------------- ------------------ ------------------------- -----------------------
TOWNSHIP LEASE NUMBER DESCRIPTION ANNIVERSARY DATE HECTARES
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxx 106856 P51061 Et Al August 1, 1994 82.532
-------------------- --------------------- ------------------ ------------------------- -----------------------
KAMISKOTIA PROPERTY:
The Kamiskotia Property consists of two mining leases comprising 38 units in
Xxxxxxx Township, one patented claim in Godfrey Township and 33 staked claims in
Xxxxxxx Township and eight staked claims in Xxxxxxxx Township.
Mining Leases
-------------------- --------------------- ------------------ ------------------------- -----------------------
TOWNSHIP LEASE NUMBER DESCRIPTION ANNIVERSARY DATE HECTARES
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 107285 P9174 Et Al May 1, 2000 420.873
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 107284 P96005 Et Al April 1, 2000 195.463
-------------------- --------------------- ------------------ ------------------------- -----------------------
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Patented Claim
-------------------- -------------------------------------------------- ---------------- ----------------------
TOWNSHIP LEGAL DESCRIPTION PARCEL HECTARES
-------------------- -------------------------------------------------- ---------------- ----------------------
Xxxxxxx XX 0/0 xx X 0/0 Xxx 0 Xxx 0 - X00000 00000XXX 16.187
-------------------- -------------------------------------------------- ---------------- ----------------------
Mining Claims
-------------------- --------------------- ------------------ ------------------------- -----------------------
TOWNSHIP CLAIM NUMBER # OF UNITS RECORDING DATE EXPIRY DATE
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 1086202 1 September 16, 1988 September 16, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 1086203 1 September 16, 1988 September 16, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 1086204 1 September 16, 1988 September 16, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 1086205 1 September 16, 1988 September 16, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 1086206 1 September 16, 1988 September 16, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 1086207 1 September 16, 1988 September 16, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 1086208 1 September 16, 1988 September 16, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 1154301 1 May 9, 1990 May 9, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 1154302 1 May 9, 1990 May 9, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 1154303 1 May 9, 1990 May 9, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 1154304 1 May 9, 1990 May 9, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 1154305 1 May 9, 1990 May 9, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 1155626 1 January 28, 1991 January 28, 2009
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 1155627 1 January 28, 1991 January 28, 2009
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 1155628 1 January 28, 1991 January 28, 2009
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 3016590 2 October 18, 2004 October 18, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 3019100 3 October 28, 2004 October 28, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 3019101 8 October 28, 2004 October 28, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 4204246 4 August 1, 2006 August 1, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 4205465 6 July 17, 2006 July 17, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 4209617 6 May 2, 2006 May 2, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 4209641 1 November 23, 2005 November 23, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 4209645 1 December 19, 2005 December 19, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 4214685 2 February 14, 2007 February 14, 2009
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 4214686 1 February 14, 2007 February 14, 2009
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 4214687 2 February 14, 2007 February 14, 2009
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 4214688 4 February 14, 2007 February 14, 2009
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 4219536 4 December 18, 2007 December 18, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 4219545 8 November 19, 2007 November 19, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 4219659 2 December 18, 2007 December 18, 2009
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 4223278 2 September 27, 2007 September 27, 2009
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 4223280 6 September 27, 2007 September 27, 2009
-------------------- --------------------- ------------------ ------------------------- -----------------------
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-------------------- --------------------- ------------------ ------------------------- -----------------------
TOWNSHIP CLAIM NUMBER # OF UNITS RECORDING DATE EXPIRY DATE
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxx 4224634 4 January 29, 2008 January 29, 2010
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxxx 4202635 2 October 5, 2006 October 5, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxxx 4202648 3 March 29, 2007 March 29, 2009
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxxx 4205467 4 August 4, 2006 August 4, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxxx 4205468 8 August 4, 2006 August 4, 2008
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxxx 4214722 2 March 29, 2007 March 29, 2009
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxxx 4216806 6 May 29. 2007 May 29, 2009
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxxx 4223264 12 October 22, 2007 October 22, 2009
-------------------- --------------------- ------------------ ------------------------- -----------------------
Xxxxxxxx 4223265 16 October 22, 2007 October 22, 2009
-------------------- --------------------- ------------------ ------------------------- -----------------------
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"EXHIBIT 2"
UNDERLYING AGREEMENTS
1. AN AGREEMENT BETWEEN LABRADOR MINING AND EXPLORATION COMPANY LIMITED
("LABRADOR") AND MONETA PORCUPINE MINES INC. ("MONETA") DATED MAY 28,
1987 WHICH AFFECTS CERTAIN INTERESTS IN THE LOVELAND, KAMISKOTIA AND
XXXXX PROPERTIES;
2. AN AGREEMENT BETWEEN LABRADOR AND MONETA DATED FEBRUARY 21, 1989 WHICH
AFFECTS CERTAIN INTERESTS IN THE LOVELAND PROPERTY;
3. AN AGREEMENT BETWEEN MONETA AND XXXXX XXXXXXXXX XXXX DATED MARCH 6,
1992 WHICH AFFECTS CERTAIN INTERESTS IN THE KAMISKOTIA PROPERTY;
4. AN AGREEMENT BETWEEN HOMESTAKE CANADA INC. AND MONETA DATED AUGUST 2,
1995 WHICH AFFECTS CERTAIN INTERESTS IN THE KAMISKOTIA PROPERTY;
5. AN AGREEMENT BETWEEN XXXX XXXXXXX XXXXXXXX AND MONETA DATED APRIL 12,
1995 WHICH AFFECTS CERTAIN INTERESTS IN THE KAMISKOTIA PROPERTY;
6. AN AGREEMENT BETWEEN XXXXXXX XXXXXXXXX AND MONETA DATED SEPTEMBER 10,
1991 WHICH AFFECTS CERTAIN INTERESTS IN THE KAMISKOTIA PROPERTY;
7. AN AGREEMENT BETWEEN CHANCE MINING AND EXPLORATION COMPANY LIMITED AND
MONETA DATED FEBRUARY 17, 1995 WHICH AFFECTS CERTAIN INTERESTS IN THE
KAMISKOTIA PROPERTY; AND,
8. AN AGREEMENT BETWEEN XXXXXXX XXXXX AND MONETA DATED JULY 10, 1996 WHICH
AFFECTS CERTAIN INTERESTS IN THE KAMISKOTIA PROPERTY.
REFER TO THE ATTACHED MAP.
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