Partial Relinquishment of Warrant Rights Agreement between Warrant Holder and Consolidated Minerals Management, Inc.

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Summary

This agreement is between a warrant holder and Consolidated Minerals Management, Inc. (CMMI). The warrant holder originally had the right to purchase up to 12,000,000 shares of CMMI common stock, acquired by converting $100,000 in accrued compensation. In exchange for CMMI returning $75,000 in accrued compensation, the holder agrees to give up the right to purchase 9,000,000 shares, leaving the right to purchase up to 3,000,000 shares. All other terms of the original warrant remain unchanged.

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EX-10.5 99 v143067_ex10-5.htm
PARTIAL RELINQUISHMENT OF WARRANT RIGHTS

The undersigned is a holder of a Common Stock Purchase Warrant (“Warrant”) permitting the holder thereof to purchase up to 12,000,000 shares of Consolidated Minerals Management, Inc. (“CMMI”). This Warrant was purchased by converting $100,000 of accrued compensation owed to the undersigned by CMMI.

In consideration of CMMI returning $75,000 to the undersigned in the form of accrued compensation, the undersigned hereby agrees to relinquish the right to purchase 9,000,000 of the shares authorized under the Warrant. The holder therefore may exercise the Warrant in order to purchase a maximum of 3,000,000 shares.

All other terms of the Warrant shall remain unaffected by this partial relinquishment of rights.

The holder represents to CMMI that the Warrant has not been transferred or encumbered and that he has full authority to negotiate this partial relinquishment.

SO AGREED this __th day of November, 2007.
 
     
     
 
Printed name:
    
 
 
CONSOLIDATED MINERALS MANAGEMENT, INC.
  
     
By:
    
     
Title: