Letter Agreement Regarding Right of First Offer for Iowa Canyon Property – TAC Gold Corporation and Osprey Ventures, Inc.
TAC Gold Corporation and Osprey Ventures, Inc. have agreed that for 12 months from August 6, 2010, if TAC receives an offer or decides to sell, transfer, or assign any part of its interest in the Iowa Canyon Property in Nevada, TAC must first offer those interests to Osprey Ventures, Inc. on terms at least as favorable as any other offer. This agreement ensures Osprey has the first opportunity to acquire the property interest before TAC can sell to others.
TAC GOLD CORPORATION
Suite ###-###-#### Granville Street
Vancouver, British Columbia, V6H 3J3
August 6, 2010
Osprey Ventures, Inc.
Business Address
8 Hart Avenue, 15 Floor, Flat D
Tsim Sha Tsui
Kowloon, K3 V7Y2V1
Attention: President
Dear Sir/Madam:
| Re: | Iowa Canyon Property |
This letter will serve to confirm our agreement wherein, for good and valuable consideration, the receipt and sufficiency of which is acknowledged by us, TAC Gold Corporation (“TAC”) hereby agrees that, for a period of 12 months commencing from the date hereof, should TAC receive a bona fide offer to acquire any or all of TAC’s interest in that mineral property located in Ladner County, Nevada, commonly known as the Iowa Canyon Property (the “Property”) or should TAC otherwise propose to sell, transfer or assign any or all of its interest in the Property, TAC shall first offer such interest to Osprey Ventures, Inc. (“Osprey”) on terms no less favourable to Osprey than those otherwise proposed.
Accepting the above accurately details your understanding of our agreement in this regard could you please execute this letter where indicated and return same at your earliest convenience.
| TAC GOLD COPORATION | ||
| Per: | ||
| Authorized Signatory | ||
| Acknowledged and agreed this to ____ day of _______, 2010. | ||
| OSPREY VENTURES, INC. | ||
| Per: | ||
| Authorized Signatory | ||
