ENERGY METALS CORPORATION Suite 1238, 200 Granville Street Vancouver, B.C. V6C 1S4 Tel: 604.697.5687 Fax: 604.408.4799
ENERGY METALS CORPORATION
Xxxxx 0000, 000 Xxxxxxxxx Xxxxxx
Xxxxxxxxx, X.X. X0X 0X0
Tel: 000.000.0000 Fax: 000.000.0000
April 5, 2006
512 – 000 Xxxxxxxx Xx.
Xxxxxxx, Xxxxxxx
X0X 0X0
Attention: Xxx Xxxxxxx
Re: Agreement and Plan of Merger dated March 9, 2006 (the “Merger Agreement”)
The purpose of this letter is to confirm in writing the agreement, waiver and/or consent, as applicable, of Energy Metals Corporation (“EMC”), EMC Acquisition Corp. (“Merger Sub”) and Quincy Energy Corp. (“Quincy”) to certain matters affecting the Merger Agreement, as set forth below. Upon EMC, Quincy and Merger Sub signing where noted below, this letter shall be binding upon such parties.
1.
The April 30, 2006 date referred to in subsections 5.1(a)(iii), 7.1(c)(i), 7.1(e) and 7.1(f) of the Agreement is hereby extended to June 15, 2006.
2.
The May 31, 2006 date referred to in subsections 6.1(h) and 7.1(b)(ii) of the Agreement is hereby extended to June 30, 2006.
3.
EMC hereby consents to the amendment of the exercise period of the presently issued share purchase warrants of Quincy, each exercisable for one share of Quincy’s common stock at a price of CAD$0.65 per share and currently expiring June 21, 2006, such that the warrants instead expire on September 21, 2006. EMC and Merger Sub hereby waive the relevant provisions of section 4.2 of the Merger Agreement for the limited purpose of permitting the foregoing amendment.
The foregoing is hereby agreed to this 5th day of April, 2006 by:
Energy Metals Corporation | EMC Acquisition Corp. | |||
Per: “Xxx Xxxxxxx” | Per: “Xxxx Xxxxxxx” | Per: “Xxxx Xxxxxxx” | ||
Xxx Xxxxxxx Authorized Signatory | Xxxx Xxxxxxx Authorized Signatory | Xxxx Xxxxxxx Authorized Signatory |
