April 26, 2017 Solitario Exploration & Royalty Corp. Wheat Ridge, CO USA 80033 To: The Board of Directors of Solitario Exploration & Royalty Corp.Acquisition Agreement • June 20th, 2017 • Solitario Exploration & Royalty Corp. • Gold and silver ores
Mackie Research Capital Corporation (“MRCC”) understands that Solitario Exploration & Royalty Corp. (“Solitario” or the “Company”) and Zazu Metals Corporation (“Zazu”) have entered into a definitive agreement dated April 26, 2017 (the “Agreement”), whereby Solitario will acquire all of the issued and outstanding common shares in the capital of Zazu (the “Transaction”), by means of a plan of arrangement pursuant to Section 182 of the Business Corporation Act (Ontario) (the “Plan of Arrangement”) and that Solitario will continue as the ongoing public entity (the “Resulting Entity”).
