[SIGNATURE PAGE IMMEDIATELY TO FOLLOW]
Exhibit 10.3
May 20, 2015
| RE: | Closing Statement in connection with the Note Purchase Agreement between Omagine Inc. (“Company”) and YA Global Master SPV, Ltd. (“Investor”). |
This letter shall constitute the Closing Statement agreed upon between the Company and the Investor regarding various payments and transfers to be made by the parties in connection with Note Purchase Agreement dated May 20, 2015 (“Subscription Agreement”).
The parties hereby agree that the Investor shall make the payments and transfers set forth below in accordance with the wire instructions to the account of each recipient as set forth on Schedule A attached hereto (or otherwise provided to the Investor):
| Gross Proceeds to be paid to the Company: | $ | 500,000.00 | ||
| Less: | ||||
| Commitment Fee to be paid to the YA Global II SPV LLC (as designee of the Investor): | $ | (50,000.00 | ) | |
| Net Proceeds to the Company | $ | 450,000.00 | ||
[SIGNATURE PAGE IMMEDIATELY TO FOLLOW]
| 1 |
Omagine Inc.
By: /s/ Charles P. Kuczynski
| Name: Charles P. Kuczynski |
| Title: Vice President and Secretary |
YA Global Master SPV, Ltd.
By: Yorkville Advisors Global, LP
Its: Investment Manager
By: Yorkville Advisors Global, LLC
Its: General Partner
By: /s/ Gerald Eicke
| Name: Gerald Eicke |
| Title: Managing Member |
| 2 |
SCHEDULE A
ACCOUNT INSTRUCTIONS
| Omagine Inc. | |
| Omagine, Inc. Account Number 610-98230-3
HSBC Bank ABA # 021001088 Swift ID: MRMDUS33
Fifth Avenue Branch 452 Fifth Avenue New York, N.Y. 10118
Bank Contact: Kevin O’Dea Telephone: 212 ###-###-####
| |
YA Global II SPV LLC:
Instructions on file.
3
