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posted on
Mar 16, 2009 08:17AM
entered into five consulting agreements and amended two consulting agreements during 2009 with seven individuals for various corporate
planning and business development services to the Company. Pursuant to these consulting agreements, the Company issued an aggregate of
25,000,000 shares at a price of $0.03 per share totaling $750,000 and 26,000,000 shares at a price of $0.0125 per share totaling $325,000
respectively as consulting service fees in January 2009; and issued 6,000,000 shares at a price of $ 0.0085 totaling $51,000 and 6,555,000 shares
at a price of $0.0087 totaling $57,000 respectively as consulting service fees in February 2009.
On March 1, 2009, the Company signed a Corporate Finance Advisors and Consulting Agreement with a UK registered company (the
“Facilitator”) to provide consulting and financial management, restructuring and introduction or development of a financeable structure, in order
to raise capital, debt or equity in the range of US $25,000,000 to $50,000,000, while providing other consulting services to the Company. The
financing amount relates to the requirements of the development plan for the Nolan Mine in Alaska. In accordance with the consulting
agreement, on March 1, 2009, the Company signed a Corporate Facilitator Finders Fee Agreement wherein the Facilitator is entitled to receive a
cash finders’ fee equal to 10% for an investment amount of up to $300,000, 7.5% for an amount up to $1,000,000, and 5% for amounts greater
than $1,000,000 of the financing transaction proceeds received by the Company.
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