CONSENT, WAIVER AND SUBORDINATIONConsent, Waiver and Subordination • November 21st, 2011 • Golden Phoenix Minerals Inc • Metal mining • Nevada
THIS CONSENT, WAIVER AND SUBORDINATION (this “Agreement”), dated as of August 3, 2011, is made by and among MINERAL RIDGE GOLD, LLC, a Nevada limited liability company (the “Company”), GOLDEN PHOENIX MINERALS, INC., a Nevada corporation and a member of the Company (“GPXM”), and SCORPIO GOLD (US) CORPORATION, a Nevada corporation and a member and manager of the Company (“Scorpio US”) for the benefit of WATERTON GLOBAL VALUE, L.P., by the general partner of its general partner, Cortleigh Limited (together with its successors and assigns, the “Beneficiary”).
