Exhibit 10.8
ASSIGNMENT AGREEMENT
This Agreement made as of the 23 day of January,2007.
BETWEEN:
CANAMEX CORPORATION,a Company duly incorporated pursuant to the laws of the
Country of Mexico, formed in Tecate, registered in Mexico City #4/4955 with
Tax # E 4191064, having its business office at 188 Av Pipila FCTO,
Xxxxxxxxxxxx X.X. 22880, Ensenada, Baja California North.
(Hereinafter referred to as "Canamex")
AND:
XXXXXXX X. XXXXX, a Businessman as well as President and major shareholder
of Canamex, situated in Mexico having residence at 188 Av Pipila FCTO,
Xxxxxxxxxxxx X.X. 22880, Ensenada, Baja California North.
(Hereinafter referred to as "Xxxxx Xxxxx")
AND:
GEMCO MINERALS, INC., a Company duly incorporated in the State of Florida
Having its business office at Xxxxx 000 -00000 00* Xxxxxx Xxxxxxx, XX.
Xxxxxx X0X0X0
(Hereinafter referred to as "Gemco")
WHEREAS Xxxxx Xxxxx as the President of Canamex, a Mexican mining company, has
on behalf of that company acquired an agreement with certain individuals who
have the right to the mining claims referred to on the attached document and
referred to as the La Guadalupana and La Gaudalupana 2, and
WHEREAS Gemco has significant contacts and clients in the industrial mineral
industry, and precious inetal aSd is itttereffled in acquiring this interest
held by Xxxxx Xxxxx and Canamex.
NOW THEREFORE IN CSONSIDERATION of the sum of $10.00 US and other good and
valuable consideration, paid by each party to the other parties to this
Agreement, the receipt and sufficiency whereof is hereby acknowledged by all of
the parties hereto, and the mutual promises and covenants hereinafter set out,
the Parties agree as follows:
Page 2 of 3
1. Canamex will assign to Gemco 100% of its interest in the attached agreement
dated July 17, 2005 and a dated and executed agreement translated in English
between itself and Xxxxxxx Xxxxx Xxxxxx and Xxxxxxx Xxxxx Xxxxxxx (the
"Guadalupana Agreement"), attached as schedule "A".
2. Gemco will pay to Canamex (1.5%) percent and Xxxxx Xxxxxxx (1.5 %) percent of
the net cash receipts after all operating expenses, derived from the sale of all
industrial minerals extracted from the claim referred to in the Guadalupana
Agreement, within 15 days of the end of each quarter, and
3. Gemco will pay to Canamex (1,5%) percent and Xxxxx Xxxxxxx (1.5%) percent of
the net cash receipts after aft operating expenses, (derived from the Net
Smelter Return of precious metals extracted from the claim) referred to in the
Guadalupana Agreement, within 15 days of the end of each quarter. The said
amounts will continue until the Guadalupana site is economically exhausted or at
the discretion of Gemco.
4. Gemco agrees with Canamex that the Tio2 fine sand metal process research is
to be paid on a cost sharing basis and once the testing is complete then the
parties will enter into a separate contractual agreement with terms and
conditions set out at the time.
5. Gemco will agree to allot from treasury, Rule 144 restricted shares, 150,000
shares to Xxxxx Xxxxxxx and 150,000 shares to Xxxxx Xxxxx and or jointly to a
total of 300,000 shares, as further consideration. Such shares will be held at
Xxxxx Plummers Attorney in trust until such time that Gemco has completed all of
its due diligence process at the Guadalupana site, and not limited to other
requirements that may be deemed and necessary to make the Guadalupana a viable
commercial project. Gemco will release the shares within fifteen days upon
receiving such approvals.
6. Xxxxx Xxxxx hereby agrees to provide materials, documents and other
information that may be required by Gemco or its attorneys to assist in the
conclusion of events intended by the Agreement.
7. Upon the execution of a formal binding agreement referred to in No. 7 herein,
Gemco, will make preparation to commence testing on the Guadalupana Claims to
ascertain the commercial viability of the said claims, mainly of its industrial
minerals and other valued products. In doing so, Gemco will utilize the services
of Xxxxx Xxxxx and Canamex at a negotiated contract price as follows:
- $1,500.00 (US) per month upon the commencement of the testing stage at the
Guadalupana site.
- post-production with saleable product - $2,000.00 (US) per month
- Such an employment arrangement shall be valid for a period of one year 6om
the date above and may be renegotiated after the first year.
8. This agreement shall endure to the benefit of and shall be binding upon all
parties to this Agreement, as well as their heirs, executors, administrators and
assigns.
9. Time shall be the essence of this agreement and that the terms and provisions
herein contained constitute the entire agreement between the parties and shall
supersede all previous oral or written communication.
IN WITNESS WHEROF that all Parties and body Corporate have duly executed this
agreement This 23 day of January, 2007.
CANAMEX CORPORATION:
/S/ XXXXX XXXXX Witness: Signature
Authorized Signatory
/S/XXXXXXXXX XXXXXXXXXX
-----------------------
Print Name
XXXXXXXXX XXXXXXXXXX
Address
Pipila # 188
GEMCO MINERALS, INC:
/S/ XXX XXXXXX Witness:
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Xxx Xxxxxx, President (Authorized Signatory)
/S/XXXX XXXXXXX
-----------------------
Signature
XXXX XXXXXXX
Print Name
Xxx 000, Xxxxx, X.X. X0X 0X0
Address
XXXXXXX X. XXXXX
/S/ XXXXXXX X. XXXXX Witness:
---------------------------
XXXXXXX X. XXXXX
/S/XXXXXXXXX XXXXXXXXXX
-----------------------
Signature
XXXXXXXXX XXXXXXXXXX
Print Name
Pipilo # 188
Address
MINERA CANAMEX, S.A.
XX. XXXXXX Xx. 000, XXXX. XXXXXXXXXXXX, XXXXXXXX X.X.
ENSENADA.B.C. JULI017 DEL 2005
CARTA DE INTENCION entre MINERA CANAMEX, S. A. y Los senores Xxxxxxx Xxxxx
Xxxxxx y Xxxxxxx Xxxxx Xxxxxxx, propietarios de los lotes minaros La Guadalupana
y La guadalupana 2.
1).- Los senores Xxxxxxx Xxxxx Xxxxxx y Xxxxxxx Xxxxx Dolgado. Aceptan el 10% de
las utilidaes que se obtengan por la extraocion de los metals en las
arenas, y el 3% N.S.R. (Net Smelter Return), de lo que se obtenga de las
rocas.
2).- Otongar un period de tiempo de aproximadmente quarto meses on el tiempo
necesario par obtener los permisos y reatizar las pruebas pertinentes.
3).- Hay agua y eletricidad en el lugar.
4).- Una vez realizadas todas las pruebas y obtenidos los permisos, se realizara
un contrato, bajo el acuerdo del punto numero 1 (uno), de esta carta de
intencion, siendo esta uno del los puntos en dicho contrato. Estando de
acuardo que al momento de la firma de este, Minera Canamex, S.A., entregara
a los Senores Xxxxxxx Xxxxx Xxxxxx y Xxxxxxx Xxxxx Xxxxxxx, La Cantidad de
$20,000 (veinte Mil) U.S.A. dolares.
/S/XXXXXXX XXXXX XXXXXX /S/XXXXXXX XXXXX XXXXXXX
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XXXXXXX XXXXX XXXXXX XXXXXXX XXXXX XXXXXXX
PROPIETARIO LOTES MINEROS PROPIETARIO LOTES MINEROS
/S/XXXXXXX X. XXXXX
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XXXXXXX XXXXXXX XXXXX
REPRESENTANTE LEGAL MINERA CANAMEX, S.A.
