AMENDMENT AGREEMENT TO
OPTION TO PUCHASE JOINT VENTURE
AND ROYALTY AGREEMENT
RE: GOOD HOPE PROPERTY
This Agreement made the 8 day of May, 2006.
BETWEEN:
CONSOLIDATED GLOBAL MINERALS LTD. a company duly
Duly Incorporated under the laws of the Province of Alberta, having
an
Office at 3003 - 000 Xxxxxxx Xxxxxx, Xxxxxxxxx,
Xxxxxxx Xxxxxxxx X0X 0X0
(hereinafter called "Global")
OF THE FIRST PART
AND
DYNAMIC VENTRUES LTD., a company duly incorporated under the
Laws of the Province of British Columbia, having an office at 200 -
000
Xxxx Xxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxx Xxxxxxxx X0X 0X0
(hereinafter called "Dynamic")
OF THE SECOND PART
WHEREAS:
Global and Dynamic entered into an Option to Purchase, Join Venture and Royalty
Agreement (the "original Agreement") in or about February of 2004
AND WHEREAS the parties wish by this Agreement to vary some of the terms
notwithstanding that the original Agreement in paragraph 27 does not provide for
any written amendments, the parties hereto agree and consent to the terms
hereinafter set out.
AND WHERE AS the parties wish to acknowledge these terms so that they may bring
the original Agreement back into good standing.
NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the premises and
the mutual provenances, covenants and agreements herein contained, the parties
hereto agree as follows:
1. Save for the specific amendments referred to herein, the parties agree
and acknowledge that the original Agreement continues to bind them and
set out all of the terms and conditions as between them, subject to
this Amendment Agreement.
2. The parties acknowledge that Dynamic will pay to Global, upon
execution of this Agreement, the sum of TWENTY-FIVE THOUSAND
($25,000.00) DOLLARS in legal currency of the United States of
America, and that a further payment of THIRTY THOUSAND ($30,000.00)
DOLLARS in legal currency of the United States of America, will be
paid on or before the 4th day of February, 2007. The parties hereto
agree that the aforesaid payments reflect an amendment of paragraph 3
in the original Agreement in respect of the due dates with respect to
the cash payments otherwise referred to therein.
3. The parties hereto further agree to amend paragraph 3.1 (c)
4. The parties hereto further agree and acknowledge that as of the date
of this Agreement there are no defaults which are not otherwise cured
by this Agreement outstanding, which would otherwise allow Global to
terminate the original Agreement.
5. The parties hereto further agree and acknowledge that paragraph 25 of
the original Agreement indicates that the terms and provisions of the
Agreement shall be interpreted in accordance with the laws of British
Columbia. The parties hereto also acknowledge that should issues
arise with respect to
interests in lands that are situate in Nevada, then the parties agree
to submit any such disputes to a Court of competent jurisdiction in
Nevada.
6. This Agreement, together with the original Agreement, now constitutes
the entire Agreement between the parties, and replaces and supercedes
all prior agreements (save for the original Agreement which forms part
of it), memoranda, correspondence, communications and negotiations and
representations, whether verbal or written, express or implied,
statutory or otherwise between the parties with respect to the subject
matter herein and may only be varied upon further agreement in
writing, executed by both parties.
TIME OF ESSENCE:
7. Time will continue to be of essence in this Agreement.
ENFORCEMENT OF AGREEMENT
8. The covenants, promises, terms and conditions contained herein will be
binding upon the parties jointly and severally and may be enforced by
each as against each other inter se.
IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the
day of the year first above written.
DYNAMIC XXXXXXX LTD.
Per: /s/ Xxxxxx Xxxxx
--------------------
Xxxxxx Xxxxx
Authorized Signatory
CONSLIDATED GLOBAL MINERALS LTD.
Per: /s/ Xxxxxx Xxxxx
------------------
Xxxxxx Xxxxx
Authorized signatory
