Scorpio Gold Closing Deliverables Sample Clauses

Scorpio Gold Closing Deliverables. Upon Closing, Scorpio Gold will, or will have Scorpio US as applicable, deliver to GPXM: (i) the aggregate sum of Three Million Seven Hundred Fifty Thousand Dollars (US $3,750,000) by wire transfer of same day available funds (less those amounts previously paid by Scorpio Gold to GPXM referred to as the Initial Review Payment, Monthly Payments and Additional Advance pursuant to the LOI; (ii) a certificate in GPXM’s name representing that number of common shares of capital stock of Scorpio Gold at a deemed price of Cdn $0.50 per share, having an aggregate deemed value of Three Million Seven Hundred Fifty Thousand Dollars (US $3,750,000) based upon the average noon rate of exchange as posted by the Bank of Canada for the ten (10)-business day period ending three (3) business days prior to the Closing; (iii) an executed copy of the LLC Agreement to be effective as of the date of Closing; (iv) evidence of the acquisition by Scorpio US or the Company of the Xxxx Mining Royalty (as defined in Subsection 2.1(b)(ii)).
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