Exhibit 10.8
EXTENSION AGREEMENT
BETWEEN:
XXXXXXX XXXXXX, businesswoman (herein "Xxxxxx"),
of #000 000 Xxxxxxxxx Xx., Xxxxxxxxx, Xxxxxxx Xxxxxxxx, X0X 0X0
AND:
NAPTAU GOLD CORPORATION, a Delaware Corporation
(herein "NAPTAU"), having its registered offices at
11th Floor, Xxxxxx Square North, 00xx xxx Xxxxxx Xxxxxxx,
Xxxxxxxxxx, Xxx Xxxxxx Xxxxxx, Xxxxxxxx 00000
WITNESS THAT
WHEREAS
(1) NAPTAU and Xxxxxx entered into an agreement on the 12th day of
October, 1995 for the acquisition by NAPTAU of Placer Lease #1160 in the Cariboo
Mining Division of British Columbia, in the area of Likely, British Columbia,
Canada (the "Agreement");
(2) Pursuant to the Agreement NAPTAU was obligated, in part, to pay the
sum of USD$200,000 to Xxxxxx on or before December 12, 1995;
(3) NAPTAU has not as yet made the payment above referred to; and
(4) Both Xxxxxx and NAPTAU would like to extend the time for payment of
the said principal sum on mutually satisfactory terms;
IT IS NOW AGREED that in consideration of the payment of TEN DOLLARS ($10) by
NAPTAU to Xxxxxx, the receipt and sufficiency of which is hereby acknowledged,
and the further mutual covenants and agreements following, that:
1. The time for payment of the principal sum of USD$200,000 as required by
the Agreement is hereby extended to October 12, 1996.
2. NAPTAU agrees to pay forthwith in consideration for entering this
extension agreement and in settlement of the interest owing on the above
principal sum the amount of USD$20,000.
3. Xxxxxx xxx choose to convert the amount required to be paid by
paragraph 2 into shares of the common stock of NAPTAU.
4. NAPTAU may pay at any time before October 12, 1995 the principal sum
due under the Agreement, but if it chooses to do so
there will be no adjustment of the amount required to be paid by NAPTAU pursuant
to paragraph 2.
IN WITNESS WHEREOF THE PARTIES HERETO, IF CORPORATE PARTIES HAVING BEEN DULY
AUTHORIZED BY THEIR RESPECTIVE BOARDS OF DIRECTORS, HAVE SET THEIR HANDS AND
SEALS AS OF THE 30TH DAY OF APRIL, 1996.
NAPTAU GOLD CORPORATION
BY: XXXXXX X. XXXXX, President
EXECUTED BY XXXXXXX XXXXXX )
IN THE PRESENCE OF: )
Name: _______________________ )
Address: ____________________ ) ________________________________
_____________________________ ) XXXXXXX XXXXXX
Occupation: _________________ )
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