Option & Joint Venture Agreement Dated August 31st, 1998 Gary:
EXHIBIT 10.10
SOQUEM
by telecopier and mail
Sainte-Xxx, Xxxx 21ST, 2001
Xx. Xxxx Xxxxxxxxxx
President
XxXxxxxx Bay International Ltd.
0000 Xxxxxxx Xxxxx
Xxxxxxxx, Xxxxxxxx 00000
XXX
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Re: |
Lac Doré Vanadium Project |
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Option & Joint Venture Agreement Dated August 31st, 1998 |
Xxxx:
This is to confirm that your request dated May 4th last to have Paragraph 1c of our Option and Joint Venture Agreement dated August 31st, 1998 modified to provide XxXxxxxx Bay International Ltd. ("MKBY") an extension of one additional year to deliver to SOQUEM an independent Bankable Feasibility Study has been accepted by SOQUEM's board.
Therefore, the Option Agreement will refer to August 31st, 2002, as the official delivery date for the aforementioned study.
I would also like to confirm that at the same board meeting, I was authorized to accept a seat on XXXX's board provided all the necessary conditions to our private placement in MKBY are met, and the investment is completed. I have been told you will be provided with a draft copy of a subscription document very shortly for comments, and that things are moving along.
Regards,
/s/ Xxxx Xxxxxx
Xxxx Xxxxxx, Eng., Ph.D.
President and Chief Executive Officer
