Document:

Unassociated Document

    EXHIBIT
      10.17

     

    AMEMDMENT
      NO 1 

     

    TO

     

    REVOLVING
      LINE OF CREDIT AGREEMENT

     

    This
      Amendment No. 1 to Revolving Line of Credit Agreement (this “Amendment”)
      is
      made as of December 6, 2007 and among Hambrecht Asia Acquisition Corp., a Cayman
      Islands company (“Borrower”),
      and
      each other signatory hereto (each a “Lender”
and
      collectively, the “Lenders”),
      with
      reference to the following facts.

     

    (a)  Borrower
      and Lenders are parties to a Revolving Line of Credit Agreement, dated as of
      August 14, 2007 (the “Credit
      Agreement”),
      pursuant to which Lenders made available to Borrower a revolving line of credit
      to pay certain costs and expenses that may arise prior to a Business
      Combination.

     

    (b)  Borrower
      has requested that Lenders increase the Commitment Amount from $210,000 to
      $290,000.

     

    (c)  On
      the
      terms and subject to the conditions set forth in this Amendment, Lenders are
      willing to increase the Commitment Amount from $210,000 to
      $290,000.

     

    AGREEMENT

     

    1.  Definitions.
      All
      capitalized terms not otherwise defined herein shall have the meanings given
      to
      them in the Credit Agreement.

     

    2.  Amendment
      to Credit Agreement. The
      Credit Agreement is hereby amended to provide as follows: 

     

    2.1
      The
      Commitment amount set forth on the signature page opposite the name of Robert
      Eu, as a Lender, is hereby changed from $210,000 to $290,000.

     

    2.2
      Exhibit A to the Agreement shall be deleted in its entirety and replaced with
      Exhibit A hereto. 

     

    2.1.1  Effect
      on the Credit Agreement. Except
      as
      specifically amended herein, the Credit Agreement, and all other documents,
      instruments and agreements executed and/or delivered in connection therewith,
      shall remain in full force and effect, and are hereby ratified and
      confirmed. 

     

    3.  Miscellaneous
      Provisions

     

    3.1  Governing
      Law.
      This
      Agreement and the other Loan Documents shall be construed in accordance with
      the
      laws of the State of New York without giving effect to the principles of
      conflicts of law thereof. 

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    3.2  Counterparts.
      This
      Agreement may be executed in any number of counterparts each of which shall
      be
      deemed an original and all of which shall constitute one and the same agreement
      with the same effect as if all parties had signed the same signature page.
      The
      parties shall accept facsimile signatures as the equivalent of original
      ones.

     

    3.3  Headings.
      Section
      headings in this Amendment are included herein for convenience of reference
      only
      and shall not constitute a part of this Amendment for any other
      purpose.

     

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

     

    IN
      WITNESS WHEREOF, the parties have executed and delivered this Agreement to
      one
      another as of the date first above written.

     

    

    
      	 	 	
              HAMBRECHT
                ASIA ACQUISITION CORP.

            
	 	 	
               

              /s/Stephen
                N. Cannon     

            
	 	 	
              By:
                Stephen N. Cannon

              Its:
                Chief Financial Officer

            
	 	 	 
	 	 	 
	 	 	
              Robert
                Eu, as a Lender:

            
	
              Notice
                Address:

            	 	
               

              /s/
                Robert Eu     

            
	 	 	 
	 
	 	 

    

     

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    EXHIBIT
      A

    AMENDED
      AND RESTATED REVOLVING LINE OF CREDIT NOTE

    August
      14, 2007

     

    Not
      to Exceed $290,000 in Principal 

     

    For
      value
      received, the undersigned HAMBRECHT ASIA ACQUISITION CORP., a Delaware
      corporation (“Borrower”),
      promises to pay, in lawful money of the United States, to the order of Robert
      Eu, together with his successors and assigns (“Holder”),
      at
      such address as Holder may direct, the principal sum of Two Hundred Ninety
      Thousand Dollars ($290,000) (the “Commitment
      Amount”),
      or so
      much thereof as shall have been advanced and shall remain unpaid hereunder,
      together with interest from date of disbursement at the rate of 4% per annum
      (the “Interest
      Rate”).
      Interest shall be computed at the Interest Rate on the basis of the actual
      number of days during which the principal balance is outstanding, divided by
      365, which shall, for interest computation purposes, be considered one year.
      Notwithstanding anything to the contrary expressed or implied herein, all
      payments made by Borrower hereunder (including, without limitation, any
      prepayments) shall be applied first to pay any fees or expense reimbursement
      then due Holder, second to accrued and unpaid interest due under this Note
      and
      third to the reduction of principal due hereunder.

     

    This
      Note
      is delivered pursuant to, and is subject to all of the terms and conditions
      of,
      that certain Revolving Line of Credit Agreement dated August 14, 2007, as
      amended by Amendment No. 1 dated as of December 19, 2007 (as from time to time
      amended, modified, supplemented and restated, the “Loan
      Agreement”)
      among
      Borrower and Holder. Unless otherwise defined in this Note, capitalized terms
      used in this Note shall have the meanings ascribed to them in the Loan
      Agreement, and in the event of any conflict between the terms of this Note
      and
      the terms of the Loan Agreement, the terms of the Loan Agreement shall
      govern.

     

    Maturity.
      This
      Note shall mature and become due and payable on the Termination
      Date.

     

    Prepayment. Borrower
      may prepay Loans at any time, and reborrow subject to the terms of the Loan
      Agreement.

     

    Event
      of Default.
      Should
      an Event of Default (as defined in the Loan Agreement) occur, Lender shall
      have
      the rights set forth in Section 7 of the Loan Agreement.

     

    Borrower’s
      Acknowledgement.
      Borrower
      acknowledges that Holder is extending the credit contemplated hereby solely
      as
      an accommodation to Borrower, and is willing to do so in reliance upon
      Borrower’s monetary and non-monetary covenants contained herein and in the Loan
      Agreement.

     

    Holder’s
      Acknowledgement.
      The
      Holder acknowledges and agrees that, as specified in Section 5 of the Loan
      Agreement, the Holder has limited recourse against Borrower for repayment of
      any
      and all amounts due and owing under this Note.

     

    Miscellaneous.
      If this
      Note (or any payment due hereunder) is not paid when due, Borrower promises
      to
      pay all costs and expenses of collection and reasonable attorneys’ fees incurred
      by the Holder hereof on account of such collection, plus interest at the rate
      applicable to principal, whether or not suit is filed hereon. Borrower consents
      to renewals, replacements and extensions of time for payment hereof, before,
      at,
      or after maturity, consents to the acceptance, release or substitution of
      security for this Note, and waives demand and protest. The indebtedness
      evidenced hereby shall be payable in lawful money of the United States of
      America. In any action brought under or arising out of this Note and the other
      Loan Documents, Borrower, including successor(s) or assign(s), hereby consents
      to the application of New York law. No single or partial exercise of any power
      hereunder, or under any other Loan Document in connection herewith, shall
      preclude other or further exercises thereof or the exercise of any other such
      power.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, Borrower has executed and delivered this Note as of the date
      first above written.

     

    HAMBRECHT
      ASIA ACQUISITION CORP. 

     

    By:
      _____________________________________

     

    Its:
      _____________________________________EX10-1

EXHIBIT 10.1

__________

 

 

 

 

 

 

PLACER CLAIMS ACQUISITION AGREEMENT

 

 

 

 

 

Between:

LUNACO LTD

JENNY GRUBER

 

And:

SHIMMER GOLD CORPORATION

 

 

 

Shimmer Gold Corporation

620 - 304 8th Avenue S.W. Calgary, Alberta T2P 1C1

__________

PLACER CLAIMS ACQUISITION AGREEMENT

 

 

                       THIS PLACER CLAIMS ACQUISITION AGREEMENT (the "Agreement") is made and entered into to be effective as of the 19th day of June, 2007 (the "Effective Date").

 

BETWEEN:

JENNY GRUBER, Business Manager, of Lunaco Ltd., having an 

address for notice and delivery located at P.O. Box 20072, 

Whitehorse, Yukon Territory, Canada, Y1A 7A2 (the 

"Transferor");

        OF THE FIRST PART

AND:

Shimmer Gold Corporation, a company incorporated under the 

laws of the State of Nevada, U.S.A., and having an address for 

notice and delivery located at 620-304 8th Ave. SW Calgary, AB  

T2P 1C1 (the "Transferee");

   OF THE SECOND PART

(the Transferor and the Transferee being hereinafter singularly also 

referred to as a "Party" and collectively referred to as the "Parties" 

as the context so requires).

 

                       WHEREAS:

A.                   The Transferor is the legal, beneficial and registered owner of a 100% undivided interest in and to certain placer claims which are located on Mclaren Creek in the Atlin Mining Division of British Columbia (collectively, the "Placer Claims"); and which Placer Claims are more particularly described in Schedule "A" which is attached hereto and which forms a material part hereof;

B.                   The Transferee is a non-reporting company principally involved in the business of acquiring, exploring and developing mineral resource properties of merit;

C.                   As a consequence of certain recent discussions as between the Transferor and the Transferee the Transferor has agreed to sell to the Transferee, and the Transferee has agreed to purchase from the Transferor, a 100% legal, beneficial and registerable interest in and to all of the mineral property interests comprising the Placer Claims in consideration of the cash payment and share issuance by the Transferee to the Transferor (collectively, the "Purchase Price") as set forth in this Agreement; and

D.                   As a consequence of the proposed and within payment and delivery of the Purchase Price by the Transferee to the Transferor the Transferor has hereby agreed to transfer to the Transferee a 100% legal, beneficial and registerable interest in and to all of the mineral property interests comprising the Placer Claims (collectively, the "Transfer") in accordance with the terms and conditions of this Agreement;

- 2 -

                       NOW THEREFORE THIS AGREEMENT WITNESSETH that, in consideration of a payment to be delivered by the Transferee to the Transferor of the Purchase Price of $12,000.00 herein due within 30 days from the date that Transferor signs agreement. THE PARTIES HERETO COVENANT AND AGREE WITH EACH OTHER as follows:

 

Article 1

TRANSFER AND REPRESENTATIONS BY THE TRANSFEROR

1.1                  Transfer of the Placer Claims and the Purchase Price therefore.   In consideration of the prior payment and delivery of the following Purchase Price by the Transferee to the Transferor:

(a)        the repayment by the Transferee to the order and direction of the Transferor of all staking and Placer Claims application costs to the Atlin Mining Division of British Columbia which were incurred by the Transferor in acquiring the subject Placer Claims; and

(b)        the issuance by the Transferee to the order and direction of the Transferor of an aggregate of 6,000 common shares of the Transferee (each a "Share"), at a deemed issuance price of U.S. $0.05 per Share;

the due and complete receipt and sufficiency of which being hereby acknowledged by the Transferor; the Transferor hereby assigns and transfers to the Transferee a 100% legal, beneficial and registerable interest in and to all of the mineral property interests comprising the Placer Claims.

1.2                  Representations, warranties and covenants by the Transferor respecting the Placer Claims.   In order to induce the Transferee to enter into and consummate this Agreement and to provide the Purchase Price to the Transferor and to accept the Transfer, the Transferor hereby represents to, warrants to and covenants with the Transferee, with the intent that the Transferee will rely thereon in entering into this Agreement and in concluding the transactions contemplated herein, that, to the best of the knowledge, information and belief of the Transferor, after having made due inquiry:

(a)        the Transferor has the requisite power, authority and capacity to fulfill the Transferor's obligations under this Agreement;

(b)        this Agreement constitutes a legal, valid and binding obligation of the Transferor enforceable against the Transferor in accordance with its terms, except as enforcement may be limited by laws of general application affecting the rights of creditors;

(c)        there are no consents, approvals or conditions precedent to the performance of this Agreement and the completion of the Transfer by the Transferor;

(d)        the Transferor is not in breach of any laws, ordinances, statutes, regulations, by-laws, orders or decrees to which the Transferor is subject or which apply to the Transferor;

- 3 -
 (e)        the Transferor is not in breach of any provision or condition of, nor has the Transferor done or omitted to do anything that, with or without the giving of notice or lapse or both, would constitute a breach of any provision or condition of, or give rise to any right to terminate or cancel or accelerate the maturity of any payment under, any deed of trust, contract, certificate, consent, permit, license or other instrument to which the Transferor is a party, by which the Transferor is bound or from which the Transferor derives benefit, any judgment, decree, order, rule or regulation of any court or governmental authority to which the Transferor is subject, or any statute or regulation applicable to the Transferor, to an extent that, in the aggregate, has a material adverse affect on the Transferor or on any of the mineral property interests comprising the Placer Claims;

(f)        the Transferor is the legal, beneficial and registered owner of all of the mineral property interests comprising the Placer Claims; the particulars of which Placer Leases being more particularly described in Schedule "A" which is attached hereto;

(g)        the Transferor holds all of the mineral property interests comprising the Placer Claims free and clear of all liens, charges and claims of others;

(h)        no other person, firm or corporation has any written or oral agreement, option, understanding or commitment, or any right or privilege capable of becoming an agreement, for the purchase from the Transferor of any interest in and to any of the mineral property interests comprising the Placer Claims;

(i)        there are no outstanding orders or directions relating to environmental matters requiring any work, repairs, construction or capital expenditures with respect to any of the mineral property interests comprising Placer Claims and the conduct of the operations related thereto, nor has the Transferor received any notice of same; and, in addition, all land maintenance fees to the Effective Date of this Agreement for the Placer Claims have been paid by the Transferor;

(j)        there is no adverse claim or challenge against or to the ownership of or title to any of the mineral property interests comprising the Placer Claims or which may impede their development, nor, to the best of the knowledge, information and belief of the Transferor, after having made due inquiry, is there any basis for any potential claim or challenge, and, to the best of the knowledge, information and belief of the Transferor, after having made due inquiry, no person has any royalty, net profits or other interests whatsoever in any production from any of the mineral property interests comprising the Placer Claims;

(k)        there are no actions, suits, proceedings or investigations (whether or not purportedly against or on behalf of the Transferor), pending or threatened, which may affect, without limitation, the right of the Transferor to Transfer any interest in and to the mineral property interests comprising the Placer Claims to the Transferee at law or in equity, or before or by any federal, state, provincial, municipal or other governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, and, without limitation, there are no claims or potential claims under any relevant family relations legislation or other equivalent legislation affecting any of the mineral property interests comprising the Placer Claims.  In addition, the Transferor is not now aware of any existing ground on which any such action, suit or proceeding might be commenced with any reasonable likelihood of success; and

(l)        the Transferor is not aware of any fact or circumstance which has not been disclosed to the Transferee which should be disclosed in order to prevent the representations and warranties contained in this section from being misleading or which would likely affect the decision of the Transferee to enter into this Agreement.

- 4 -

                       The Transferor understands that the Transferee will rely on the representations, warranties and covenants contained in this Agreement in determining whether the within Transfer of the Placer Claims is in compliance with all applicable laws.  The Transferor hereby agrees to indemnify the Transferee and hold the Transferee harmless from and against any and all liability, damage, cost or expense (including reasonable attorney's fees) incurred on account of or arising out of: (i) any inaccuracy in the representations, warranties or covenants set forth in this Agreement; (ii) any suit or proceeding based upon the claim that such representations, warranties or covenants were inaccurate or misleading or otherwise cause for obtaining damages or redress from the Transferee or its affiliates; and (iii) its failure to fulfill any or all of its obligations herein.  The Transferor undertakes to notify the Transferee immediately of any change in any representation, warranty, covenant or other information relating to the Transferor as set forth in this Agreement.

 

Article 2

GENERAL PROVISIONS

2.1                  Entire agreement.   This Agreement constitutes the entire agreement to date between the Parties hereto and supersedes every previous agreement, communication, expectation, negotiation, representation or understanding, whether oral or written, express or implied, statutory or otherwise, between the Parties with respect to the subject matter of this Agreement.

2.2                  Enurement.   This Agreement will enure to the benefit of and will be binding upon the Parties hereto, their respective heirs, executors, administrators and assigns.

2.3                  Notice.   Each notice, demand or other communication required or permitted to be given under this Agreement shall be in writing and shall be sent by prepaid registered mail deposited in a post office addressed to the Party entitled to receive the same, or delivered to such Party, at the address for such Party specified above.  The date of receipt of such notice, demand or other communication shall be the date of delivery thereof if delivered, or, if given by registered mail as aforesaid, shall be deemed conclusively to be the third calendar day after the same shall have been so mailed, except in the case of interruption of postal services for any reason whatsoever, in which case the date of receipt shall be the date on which the notice, demand or other communication is actually received by the addressee.  Either Party may at any time and from time to time notify the other Party in writing of a change of address and the new address to which notice shall be given to it thereafter until further change.

2.4                  Applicable law.   The situs of this Agreement is Vancouver, British Columbia, Canada, and for all purposes this Agreement will be governed exclusively by and construed and enforced in accordance with the laws and Courts prevailing in the Province of British Columbia, Canada, and the federal laws of Canada applicable therein.

2.5                  Representation and costs.   It is hereby acknowledged by each of the Parties hereto that, as between the Parties herein, Lang Michener LLP acts solely for the Transferee, and that the Transferor has been advised by each of Lang Michener LLP and the Transferee to obtain independent legal advice with respect to the Transferor's review and execution of this Agreement.   In addition, it is hereby further acknowledged and agreed by the Parties hereto that each Party to this Agreement will bear and pay its own costs, legal and otherwise, in connection with its respective preparation, review and execution of this Agreement and, in particular, that the costs involved in the preparation of this Agreement, and all documentation necessarily incidental thereto, by Lang Michener LLP shall be at the cost of the Transferee.

- 5 -

2.6                  Further assurances.   The Parties hereto hereby, jointly and severally, covenant and agree to forthwith, upon request, execute and deliver, or cause to be executed and delivered, such further and other deeds, documents, assurances and instructions as may be required by the Parties hereto in order to carry out the true nature and intent of this Agreement.

2.7                  Severability and construction.   Each Article, section, paragraph, term and provision of this Agreement, and any portion thereof, shall be considered severable, and if, for any reason, any portion of this Agreement is determined to be invalid, contrary to or in conflict with any applicable present or future law, rule or regulation in a final unappealable ruling issued by any court, agency or tribunal with valid jurisdiction in a proceeding to any of the Parties hereto is a party, that ruling shall not impair the operation of, or have any other effect upon, such other portions of this Agreement as may remain otherwise intelligible (all of which shall remain binding on the Parties and continue to be given full force and agreement as of the date upon which the ruling becomes final).

2.8                  Captions.   The captions, section numbers, Article numbers and Schedule numbers appearing in this Agreement are inserted for convenience of reference only and shall in no way define, limit, construe or describe the scope or intent of this Agreement nor in any way affect this Agreement.

2.9                  Counterparts.   This Agreement may be signed by the Parties hereto in as many counterparts as may be necessary, and via facsimile if necessary, each of which so signed being deemed to be an original and such counterparts together constituting one and the same instrument and, notwithstanding the date of execution, being deemed to bear the Effective Date as set forth on the front page of this Agreement.

2.10                No partnership or agency.   The Parties hereto have not created a partnership and nothing contained in this Agreement shall in any manner whatsoever constitute any Party the partner, agent or legal representative of any other Party, nor create any fiduciary relationship between them for any purpose whatsoever.  No Party shall have any authority to act for, or to assume any obligations or responsibility on behalf of, any other party except as may be, from time to time, agreed upon in writing between the Parties or as otherwise expressly provided.

 

                       IN WITNESS WHEREOF each of the Parties hereto has hereunto set its common seal by the hand of its duly authorized signatory as of the Effective Date as set forth on the front page of this Agreement.

- 6 -

 

	
SIGNED, SEALED and DELIVERED by

JENNY GRUBER

the Transferor herein, in the presence of: 

"Tonya White"                                                 

Witness Signature

P.O. Box 20072, Whitehorse, Yukon Territory

Witness Address

Tonya White, Manager                                   

Witness Name and Occupation
	
)

)

)

)

)

)

)

)

)

)

)

)

)
	

"Jenny Gruber"             

JENNY GRUBER

	
The COMMON SEAL of

SHIMMER GOLD CORPORATION, 

the Transferee herein, 

was hereunto affixed in the presence of: 

"Shawn Balaghi"                                        

Authorized Signatory
	
)

)

)

)

)

)

)
	

(C/S)

 

__________

 

 

Schedule A

 

 

                       This is Schedule "A" to that certain Placer Claims Acquisition Agreement between Jenny Gruber and Shimmer Gold Corporation.

 

Placer Claims transferred from the Transferor to the Transferee

Placer claims located in the following portions of Mclaren Creek in the Atlin Mining Division of British Columbia:

Tenure ID Number 55049, Map number 104N

GPS 59 25 41 N. 132 57 47 W

__________

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00134-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00134-of-00352.parquet"}]]