SECURITY AGREEMENTSecurity Agreement • May 16th, 2008 • Mexoro Minerals LTD • Gold and silver ores • Delaware
SECURITY AGREEMENT (this “Agreement”), dated as of May 9, 2008 between MEXORO MINERALS LTD., a Colorado corporation, (“Borrower”), and Paramount Gold and Silver Corp., a Delaware corporation, (“Lender”). The Lender and Borrower are concurrently entering into a Secured Convertible Debenture, dated as of even date herewith, (as amended, modified or supplemented from time to time in accordance with its terms, the (“Debenture”) pursuant to which the Lender will make a loan to the Borrower in the Principal Amount (as such term is defined in the Debenture) pursuant to, and subject to the terms and conditions thereof.
SERIES A COMMON STOCK PURCHASE WARRANT To Purchase [-----------] Shares of Common Stock of MEXORO MINERALS LTD.Securities Agreement • May 16th, 2008 • Mexoro Minerals LTD • Gold and silver ores
THIS COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, [Name of Subscriber] (the “Holder”), is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date hereof (the “Initial Exercise Date”) and on or prior to the close of business on the second anniversary of the Initial Exercise Date (the “Termination Date”) but not thereafter, to subscribe for and purchase from Mexoro Minerals Ltd, a Colorado corporation (the “Company”), up to [----------] shares (the “Warrant Shares”) of Common Stock, without par value, of the Company (the “Common Stock”). The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 1(b).
