Merger Agreement and Plan of Merger Between Mainland Resources, Inc. ("Mainland") and American Exploration Corporation ("American Exploration") Dated March 22, 2010 (the "Merger Agreement")Merger Agreement • October 12th, 2010 • Mainland Resources Inc. • Metal mining
We acknowledge that American Exploration, with our consent (as required in light of American Exploration's covenant in section 5.3(a)(v) of the Merger Agreement), completed an unregistered offering (the "Offering") of 200,000 units (the "Units") on April 5, 2010, at a subscription price of US$0.25 per Unit, for aggregate gross proceeds of US$50,000. Each Unit was comprised of one share of common stock in the capital of American Exploration and one-half of one non-transferrable common stock purchase warrant (each, a "Warrant"). Each whole Warrant entitles the holder to purchase one additional share of American Exploration common stock at an exercise price of US$0.50 per share for a period of one year. We understand that the Offering was effected pursuant to Regulation S under the U.S. Securities Act of 1933, as amended, in order to provide American Exploration with the funds necessary to pursue the transactions contemplated by the Merger Agreement and to meet its continuing reporting ob
AMENDING AGREEMENT (MERGER AGREEMENT AND PLAN OF MERGER)Amending Agreement (Merger Agreement and Plan of Merger • October 12th, 2010 • Mainland Resources Inc. • Metal mining • British Columbia
