WARRANT FOR THE PURCHASE OF SHARES OF COMMON STOCK OF TRUE NORTH ENERGY CORPORATION (A Nevada corporation)True North Energy CORP • September 19th, 2007 • Crude petroleum & natural gas • New York
FOR VALUE RECEIVED, True North Energy Corporation ("Company"), hereby certifies that EH&P Investments AG, Albisriederstrasse 164, CH-8040, Zurich, Switzerland or his, her or its registered assigns ("Holder"), is entitled, subject to the terms set forth below, to purchase from the Company, at any time or from time to time during the three-year period commencing on August 30, 2007 and expiring on August 29, 2010, one hundred eighty-two thousand two hundred forty-nine (182,249) shares of Common Stock of the Company ("Common Stock"), at a purchase price of $1.92 per share. The number of shares of Common Stock purchasable upon exercise of this Warrant, and the purchase price per share, each as adjusted from time to time pursuant to the provisions of this Warrant, are hereinafter referred to as the "Warrant Shares" and the "Exercise Price," respectively.
CONVERTIBLE PROMISSORY NOTETrue North Energy CORP • September 19th, 2007 • Crude petroleum & natural gas • Texas
FOR VALUE RECEIVED, the undersigned, True North Energy Corporation, a Nevada corporation (the "Obligor"), hereby promises to pay to the order of EH&P Investments AG (the "Holder"), the principal sum of Two Hundred Fifty Thousand Dollars ($250,000) payable as set forth below. The Obligor also promises to pay to the order of the Holder interest on the principal amount hereof at a rate of 8% per annum, which interest shall be payable as set forth below. Interest shall be calculated on the basis of the year of 365 days and for the number of days actually elapsed. The payments of principal and interest hereunder shall be made in coin or currency of the United States of America which at the time of payment shall be legal tender therein for the payment of public and private debts.
CONVERTIBLE PROMISSORY NOTETrue North Energy CORP • September 19th, 2007 • Crude petroleum & natural gas • Texas
FOR VALUE RECEIVED, the undersigned, True North Energy Corporation, a Nevada corporation (the "Obligor"), hereby promises to pay to the order of EH&P Investments AG (the "Holder"), the principal sum of Two Hundred Fifty Thousand Dollars ($250,000) payable as set forth below. The Obligor also promises to pay to the order of the Holder interest on the principal amount hereof at a rate of 8% per annum, which interest shall be payable as set forth below. Interest shall be calculated on the basis of the year of 365 days and for the number of days actually elapsed. The payments of principal and interest hereunder shall be made in coin or currency of the United States of America which at the time of payment shall be legal tender therein for the payment of public and private debts.
