Board Resolution Approving Sale of Rare Earth Extraction Technology by NSU Resources Inc. to Great Rock Development Corporation
NSU Resources Inc. held a board meeting to approve the sale of its rare earth elements extraction technology to Great Rock Development Corporation. In exchange, NSU will receive 10,000,000 restricted common shares of Great Rock, a payment of one dollar, and 8% smelter royalties. The shares will be subject to a two-year restriction under Rule 144. The resolution was approved by the board, and the meeting was formally concluded.
EXHIBIT 10.6
NSU RESOURCES INC
MINUTES of a Meeting of the Board of Directors of NSU Resources Inc., (the “Company”) held via Teleconference, on the 21th of April 2013 at 19:00 Standard Eastern Time with Dr Williams in Montreal, Canada and Dr Duchesne in Toronto Canada.
Present: Dr Robert Williams, Dr. Luc C Duchesne, via teleconference. Constituting a quorum of the members of the Board of Directors.
The Directors waived notice of the Meeting: The Meeting was called to discuss the sale of NSU’s rare earth elements extraction technology for 10,000,000 common shares of Great Rock Development Corporation which will bear a Rule 144 restricted legend for 2 years, plus one dollar and 8% smelter royalties “The Transaction.”
BE IT RESOLVED THAT NSU approves the transaction with Great Rock Development Corporation
There being no further business to discuss, the meeting was terminated.
| Date: April 29, 2013 | NSU Resources | |
| By | /s/ Luc C Duchesne Abstains from voting | |
| Name: Luc C. Duchesne Title: Director | ||
| Date: April 29, 2013 | Great Rock Development Corporation | |
| By | /s/ Robert Williams | |
| Name: Robert Williams Title: Director | ||
