EXHIBIT 10.2
AGREEMENT made as of the 1st day of November 2003
AMONG:
YUKON GOLD CORPORATION, INC., a corporation incorporated under the laws of
the State of Delaware ("YGCI").
-and-
YUKON GOLD CORP. ("YUKON") an Ontario corporation
WHEREAS YGCI has assigned certain subscription agreements to YGCI as
described in Schedule "A";
AND WHEREAS YGCI wishes to authorize Yukon to retain a portion of the
subscription monies as a loan.
NOW THEREFORE THIS AGREEMENT WITNESSETH THAT in consideration of the
mutual covenants and agreements herein contained and for other good and valuable
consideration (the receipt and sufficiency of which is hereby acknowledged), the
parties hereto agree with each other as follows:
1. Yukon has accepted the subscription but has not issued any shares or warrants
as called for in the subscription agreements.
2. YGCI is the controlling shareholder of Yukon and has entered into an
assignment agreement with Yukon and each of the subscribers agreeing to issue
its own shares and warrants to satisfy the subscription agreement.
3. Yukon has received CDN$451,245.15 of the subscription funds which shall be
recorded in the books and records of Yukon as a loan due to YGCI and in YGCI's
books and records as a receivable.
4. The subscription from X.X. Xxxxxxx III for US$50,000 was assigned before
Yukon received the closing funds and the closing funds less commission of 10%
were paid to YGCI.
5. In addition YGCI caused its subscriber Joranamo Trust to loan Yukon
US$20,000.
6. The result of the assignment of the subscription agreements will leave YGCI
owning all of the outstanding shares of Yukon and will be indebted to YGCI for
CDN$451,245.15 plus US$20,000.
IN WITNESS WHEREOF the parties hereto have executed this Agreement as of
the date first set out above.
YUKON GOLD CORPORATION, INC. YUKON GOLD CORP.
Per: /s/ Xxxxxxxx Xxxxxx Per: /s/ Xxxxxxxx Xxxxxx
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SCHEDULE A
FIRST NAME LAST NAME ADDRESS1 CITY STATE POSTAL NO OF NO OF AMOUNT
CODE SHARES WARRANTS
X.X. Xxxxxx 00000 Xxxxx Xxxxx Xxx Xxxxxxx XX 00000 180,180 90,090 $92,662.00
Xxxxxx X. Xxxxxx III 000 Xxxxx Xxx Xxxxxxxxxx XX 00000 42,000 14,000 $18,848.20
Xxxxxxx Xxxxxxx 00000 Xxxxxxx Xxxxx Xxx Xxxxxxx XX 00000 83,400 27,800 $40,860.00
Xxxxxxx Hope 00000 Xxxxxxxx Xxx Xxxxxxx XX 00000 108,960 36,320 $54,480.00
Xxxxx Xxxxxxxxxx 0000 Xxxxx Xxxxxxxx Xxx Xxxxxxx XX 00000 53,913 17,971 $26,956.00
Xxxxx X. Xxxx 00000 Xxxxx Xxxxxx Xxx Xxxxxxx XX 00000 135,135 45,045 $67,567.50
J. Xxxx Xxxxxx XX Xxx 00000 Xxx Xxxxxxx XX 00000 131,001 43,667 $64,950.00
X. X. Xxxxxxx III 000 Xxxxxxxx Xxx Xxxxxxx XX 00000 130,001 43,667 $65,500.00
Xxx Xxxxx National Bank of Daingerfield Xxxxxxxxxxxx XX 00000 40,000 20,000 $21,037.05
000 Xxxx Xx. Xxx X
Xxxxxx & Xxxxx Xxxx 00000 Xxx Xxxxx Xxx Xxxxxxx XX 00000 122,342 61,171 $63,884.40
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