"On January 15, 2010 we completed the sale of our Lac Levac and Lac des Montagnes properties to
Nemaska Exploration Inc (“Nemaska”). The Company has received a total of $650,000 in cash, 4,285,714
shares and 4,285,714 warrants of Nemaska. Golden Goose also received in addition to the above, a
$1,000,000 convertible debenture redeemable over the next 36 months and a 2% NSR royalty on the
properties it has sold to Nemaska
To exercise the option, Nemaska had to pay the following before December 31, 2009:
· $450,000 in cash
· $1,500,000 in common shares at 30%discount to the initial public offering (“IPO”) stock price including a
two-year warrant exercisable at a strike price equivalent to the stock price of the IPO which is
.50. The
shares will be held on escrow and 10% will be released on the listing date and 15% of the shares will be
released at six months intervals following the listing; and · $1,000,000 in the form of an 8% convertible redeemable debenture (convertible at the holder’s option into shares at the price of the IPO and 24-month warrants exercisable at a 20%premium to the IPO price). The debenture will be forced to be converted if the publicly-traded shares of Nemaska close at a price 30% higher than the IPO price for 20 consecutive days. Interest is payable in cash once a year on the
anniversary of the transaction date. The debenture will be secured by the claims of the Lac Levac property
and can be bought back at anytime by Nemaska for $1,100,000."

Chers