AMENDMENT TO BINDING TERM SHEET
AMENDMENT
TO
BINDING TERM SHEET
This amending agreement (the “Amendment”) amends the binding term sheet (the “Term Sheet”) dated as of September 7, 2020 between Homestake Mining Company of California (“Homestake”), Lac Minerals (USA) LLC (“Lac Minerals”), Augusta Investments Inc. (“Augusta”) and Bullfrog Gold Corp. (“BFGC”, and together with Homestake, Lac Minerals and Augusta, the “Parties”), pursuant to which the Parties agreed to enter into an integrated transaction involving: (i) the purchase by BFGC of all of the Equity Interests in Bullfrog Mines LLC; and (ii) a concurrent financing in which the Augusta Group agreed to acquire Units of BFGC. The Parties agreed to amend the Term Sheet as follows:
A.Interpretation
Capitalized terms: | All capitalized terms used but not defined herein shall have the meaning ascribed to them in the Term Sheet. |
B.Amendments to Term Sheet
Amendments: | Section “E. Timing and Conditions to Closing – Termination:” of the Term Sheet is amended by deleting the words “30th day” and replacing them with “31st day”. All references to “Bullfrog Mining LLC” in the Term Sheet are replaced with “Bullfrog Mines LLC”. |
No other changes: | All of the terms and conditions of the Term Sheet remain in full force and effect, except to the extent explicitly provided herein. |
C.Miscellaneous
Date: | This Amendment is effective as of October 7, 2020 (the “Amendment Date”). |
Governing Law: | This Amendment shall be governed by the laws of the Province of Ontario, and any claims or disputes will be subject to the exclusive jurisdiction of the courts of the Province of Ontario. |
Counterparts: | Each Party to this Amendment may sign this Amendment and transmit the signed copy to the other Parties hereto who agree to accept it as if such document bore original signatures. This Amendment may be executed in one or more counterparts, each of which is deemed to be an original and all of which taken together constitute one and the same instrument. |
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Tor#: 9839210.1
IN WITNESS WHEREOF the Parties have executed this Amendment as of the Amendment Date.
HOMESTAKE MINING COMPANY OF CALIFORNIA
By: /s/ Xxxxxxx X. XxXxxxxx
Name:Xxxxxxx X. XxXxxxxx
Title: Director
LAC MINERALS (USA) LLC
By: /s/ Xxxxxxx X. XxXxxxxx
Name:Xxxxxxx X. XxXxxxxx
Title: Director
/s/ Xxxxxxx Xxxxxx |
Name:Xxxxxxx Xxxxxx |
Title:President |
|
By: /s/ Xxxxx Xxxxxx
Name:Xxxxx Xxxxxx
Title:CEO & President
AUGUSTA INVESTMENTS INC.
By: /s/ Xxxxxxx X. Xxxxx
Name:Xxxxxxx X. Xxxxx
Title:Director
Signature Page – Amendment to Binding Term Sheet
