Document:

REVERSAL LOAN AND CONTROL SHARE PLEDGE
AND SECURITY AGREEMENT

 

THIS REVERSAL LOAN AND CONTROL SHARE PLEDGE
AND SECURITY AGREEMENT (this “Agreement”) is made this 8th day of August, 2007, by and among CROMWELL
URANIUM HOLDINGS, INC., an Arizona corporation (“Borrower”), Robert McIntosh (the “Stockholder”), and CROMWELL
URANIUM CORP., a Nevada corporation (“Lender”).

 

WITNESSETH:

 

WHEREAS, Lender, Stockholder and Borrower
have entered into a certain Reversal Agreement (“Reversal Agreement”) of even date herewith (capitalized terms not
otherwise defined herein shall have the meanings ascribed to such terms in the Reversal Agreement);

 

WHEREAS, pursuant to the Reversal Agreement;
among other provisions, the Stockholder is purchasing the Company Shares from the Company for a Purchase Price consisting of the
Merger Shares and, as additional consideration, the return of the Capital Infusion;

 

WHEREAS, to provide Borrower with the opportunity
to repay a portion of the Capital Infusion over time, Lender has agreed to provide Borrower with a temporary loan in the amount
of $557,927.30;

 

WHEREAS, in order to secure the Borrower’s
obligations under such loan including, but not limited to, the Borrower’s obligations under the Note and Security Agreement
(herein referenced), both dated as of even date herewith, the Stockholder has agreed to pledge to the Lender 100 shares of Borrower’s
common stock (the “Borrower Control Shares”) which will constitute 100% of the outstanding capital stock of Borrower,
on a fully-diluted basis;

 

NOW, THEREFORE, in consideration of the
premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Borrower and
the Lender, intending to be legally bound, agree as follows:

 

ARTICLE I - LOAN

 

1.1. Loan. Lender agrees, on the
terms and conditions of this Agreement, to make a loan to Borrower in the amount of Five Hundred Fifty Seven Thousand Nine Hundred
Twenty Seven Dollars and Thirty Cents ($557,927.30) (the “Loan”). Upon the execution and delivery of this Agreement
(the “Loan Date”), the full amount of the Loan to Borrower shall be deemed to have been disbursed to the Borrower.

 

    	 

    	 

    

 

1.2. The Note. Borrower has authorized
the issuance of a promissory note (the “Note”) made in favor of Lender by Borrower, which shall be in the form set
forth in Exhibit A attached hereto. The Loan shall bear interest at the rate of nine percent (9%) per annum, and shall be due and
payable to the order of Lender on November 15, 2007 (the “Due Date”); provided, however, that from and after an Event
of Default, as defined in Article VI hereof, such interest rate shall increase to fifteen percent (15%) per annum.

 

1.3. Payments. Borrower will begin
making consecutive monthly interest only payments on the Loan of accrued interest commencing thirty (30) days after the date hereof
and continuing through the Due Date, at which time Borrower shall repay the unpaid principal amount of the Loan, together with
accrued and unpaid interest. Borrower may prepay the Loan, in whole or in part, together with accrued interest thereon, at any
time without penalty.

 

ARTICLE II – SECURITY

 

As collateral security for Borrower’s
obligations hereunder and under the Note, Borrower will grant and pledge a security interest in all of its respective assets to
Lender, upon the terms and conditions of a Security Agreement in the form set forth in Exhibit B attached hereto, which is being
executed and delivered simultaneously herewith. As an additional inducement to Lender to make the Loan hereunder, the Stockholders
will pledge the Borrower Control Shares, as provided for below. All certificates representing the Borrower Control Shares, shall
be deposited into escrow pursuant to the Pledge and Escrow Agreement (the “Escrow Agreement”) being executed simultaneously
herewith.

 

ARTICLE III – BORROWER CONTROL SHARES

 

3.1 Rights Relating to Borrower Control
Shares. Prior to the occurrence of an Event of Default (as defined herein), (i) the Lender shall have no right to vote the
Borrower Control Shares at any meeting of the Borrower’s stockholders, and (ii) the Lender shall have no right to assign
or transfer the Borrower Control Shares. Upon the occurrence of such an Event of Default, the Lender shall be entitled (X) to vote
the Borrower Control Shares, and (Y) to assign or transfer such Borrower Control Shares, and to enjoy all other rights and privileges
incident to the ownership of the Borrower Control Shares. Lender shall credit against the amounts owed on the Loan, any dividends
or distributions received with respect to the Borrower Control Shares, and any proceeds received from the sale or disposition of
the Borrower Control Shares.

 

3.2Release of Pledged
Shares from Pledge and Borrower Control Shares from Escrow. Upon the payment of all amounts due to the Lender under the Loan
Documents by repayment in accordance with the terms of the Note, the parties hereto shall notify the Escrow Agent, as such term
is defined in the Escrow Agreement, to such effect in writing. Upon receipt of such written notice, the Escrow Agent shall return
to the party designated in the notice the Transfer Documents and the certificates representing the Borrower Control Shares. Notwithstanding
anything to the contrary contained herein, upon full payment of all amounts due to the Lender under the Loan Documents, by repayment
in accordance with the terms of the Note, this Agreement and Lender’s security interest and rights in and to the Borrower
Control Shares shall terminate.

 

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ARTICLE IV - REPRESENTATIONS AND WARRANTIES
OF BORROWER

 

Borrower (together with the Stockholder,
with respect to Section 4.11 below) represents and warrants to Lender as follows:

 

4.1. Organization. Borrower is a
corporation duly existing under the laws of its jurisdiction of incorporation and qualified and licensed to do business in any
jurisdiction in which the conduct of its business or its ownership of property requires that it be so qualified, except where the
failure to be so qualified would not have a material adverse effect on the business, operations, condition (financial or otherwise),
property or prospects of Borrower, or the ability of Borrower to carry out their respective obligations under the Loan Documents
(as defined in Section 4.2 below) (a “Company Material Adverse Effect”).

 

4.2. Subsidiaries. Borrower has no
Subsidiaries. For purposes of this Agreement, a “Subsidiary” means any corporation, partnership, joint venture or other
entity in which Borrower has, directly or indirectly, an equity interest representing 50% or more of the capital stock thereof
or other equity interests therein.

 

4.3. Authorization. All corporate
action on the part of Borrower and its officers, directors and stockholders necessary for the authorization, execution, delivery
and performance of all obligations of Borrower under this Agreement, the Note, the Security Agreement, the Escrow Agreement and
all other documents necessary or desirable in connection with the Loan (collectively, the “Loan Documents”) to which
any of them may be a party have been taken. This Agreement, the Note, the Escrow Agreement and the Security Agreement, when executed
and delivered by Borrower, shall constitute legal, valid and binding obligations of Borrower, enforceable against Borrower in accordance
with their terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, moratorium or similar laws
affecting creditors’ rights and the enforcement of debtors’ obligations generally and by general principles of equity,
regardless of whether enforcement is pursuant to a proceeding in equity or at law.

 

4.4. Absence of Conflicts. The execution,
delivery and performance of this Agreement and each of the other Loan Documents is not in conflict with nor does it constitute
a breach of any provision contained in Borrower’s organizational documents, nor will it constitute an event of default under
any material agreement to which Borrower is a party or by which Borrower is bound.

 

4.5. Consents and Approvals. Borrower
has obtained all consents, approvals and authorizations of, made all declarations or filings with, and given all notices to, all
governmental authorities and agencies that are necessary for the continued operation of Borrower’s business as currently
conducted, or are required by law.

 

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4.6 Capitalization. The authorized
and outstanding share capital of Borrower consists of 100,000 shares of common stock, $0.01 par value, of which 100 shares are
outstanding as of the date of this Agreement. There are no subscriptions, convertible securities, options, warrants or other rights
(contingent or otherwise) currently outstanding to purchase any of the authorized but unissued capital stock of Borrower. Borrower
has no obligation to issue shares of its capital stock, or subscriptions, convertible securities, options, warrants, or other rights
(contingent or otherwise) to purchase any shares of its capital stock or to distribute to holders of any of its equity securities,
any evidence of indebtedness or asset. No shares of Borrower capital stock are subject to a right of withdrawal or a right of rescission
under any applicable securities law. There are no outstanding or authorized stock appreciation, phantom stock or similar rights
with respect to the Borrower. To the Knowledge of the Borrower, except as otherwise contemplated by this Agreement, there are no
agreements to which the Borrower is a party or by which it is bound with respect to the voting (including without limitation voting
trusts or proxies), registration under any applicable securities laws, or sale or transfer (including without limitation agreements
relating to pre-emptive rights, rights of first refusal, co-sale rights or “drag-along” rights) of any securities of
the Borrower. To the Knowledge of the Borrower, there are no agreements among other parties, to which the Borrower is not a party
and by which it is not bound, with respect to the voting (including without limitation voting trusts or proxies) or sale or transfer
(including without limitation agreements relating to rights of first refusal, co-sale rights or “drag-along” rights)
of any securities of the Borrower.

 

4.7. Litigation. There are no actions,
suits, claims, investigations, arbitrations or other legal or administrative proceedings, to the Knowledge of Borrower, threatened
against Borrower at law or in equity, and to Borrower’s Knowledge, there is no basis for any of the foregoing. There are
no unsatisfied judgments, penalties or awards against or affecting Borrower or its businesses, properties or assets. Borrower is
not in default, and no event has occurred which with the passage of time or giving of notice or both would constitute a default
by Borrower with respect to any order, writ, injunction or decree known to or served upon Borrower of any court or of any foreign,
federal, state, municipal or other governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign.
There is no action or suit by Borrower pending or threatened against others. Borrower has complied with all laws, rules, regulations
and orders applicable to its current business, operations, properties, assets, products and services the violation of which would
have a Company Material Adverse Effect. There is no existing law, rule, regulation or order, and Borrower has no Knowledge of any
proposed law, rule, regulation or order, whether foreign, federal or state, that would prohibit or materially restrict Borrower
from, or otherwise materially adversely affect Borrower in, conducting its businesses in any jurisdiction in which it is now conducting
business.

 

As defined in this Agreement, “Knowledge”
of Borrower means the actual knowledge by a director or officer of Borrower of a particular fact or circumstance or such knowledge
as may reasonably be imputed to such person as a result of his actual knowledge of other facts or circumstances as well as any
other knowledge which such person would have possessed had they made reasonable inquiry of appropriate employees and agents of
Borrower with respect to the matter in question.

 

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4.8. Absence of Certain Events. To
the Borrower’s Knowledge, there is no existing condition, event or series of events which reasonably would be expected to
have a Company Material Adverse Effect.

 

4.9 Title to Property and Assets.
Borrower does not own any real property. Borrower has good and marketable title to all of its personal property and assets free
and clear of any material restriction, mortgage, deed of trust, pledge, lien, security interest or other charge, claim or encumbrance
which would have a Company Material Adverse Effect. With respect to properties and assets it leases, Borrower is in material compliance
with such leases and holds a valid leasehold interest free of any liens, claims or encumbrances which would have a Company Material
Adverse Effect.

 

4.10. Governmental Permits. Borrower
holds all licenses, franchises, permits and other governmental authorizations which are required for the conduct of any aspect
of Borrower’s business, as presently conducted and as presently contemplated to be conducted, including, but not limited
to, all such business operations contemplated by, or incident to, the Transactions. All such licenses, franchises, permits and
other governmental authorizations are valid and current, and Borrower has not received any notice that any governmental authority
intends to cancel, terminate or not renew any such license, franchise, permit or other governmental authorization. Borrower has
conducted and is conducting its business in compliance with the requirements, standards, criteria and conditions set forth in such
licenses, franchises, permits and other governmental authorizations, and all laws and regulations applicable thereto, and is not
in violation of any of the foregoing. The consummation of the transactions contemplated hereunder will not alter or impair or require
changes to any such license, franchise, permit or other governmental authorization.

 

4.11 Borrower Control Shares. The
Borrower Control Shares have been duly and validly authorized for issuance and pledge pursuant to this Agreement and, when issued
and delivered as provided hereunder, will be duly authorized, validly issued, fully paid and non-assessable and free and clear
of all Liens imposed by the Borrower or any other person other than restrictions on transfer provided for in the Loan Documents.
As used in this Agreement “Lien” means a lien, charge, security interest, right of first refusal, preemptive right,
mortgage, pledge, title retention device, or other encumbrance or restriction.

  

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ARTICLE V - COVENANTS OF BORROWER

 

So long as the Note is outstanding, Borrower
agrees that, unless Lender shall give its prior consent in writing:

  

5.1. Ordinary Course. Borrower shall
carry on its business in the ordinary course substantially as conducted heretofore, and shall not engage in any transaction outside
of the ordinary course of business.

 

5.2. Maintain Properties. Borrower
shall maintain its properties and facilities in good working order and condition, reasonable wear and tear excepted.

 

5.3. Performance under Agreements.
Borrower shall perform all of its obligations under agreements relating to or affecting its assets, properties or rights.

 

5.4. Maintenance of Business Organization.
Borrower shall maintain and preserve its business organization intact and use its best efforts to retain its present key employees
and relationships with suppliers, customers and others having business relationships with Borrower.

 

5.5. Compliance with Permits. Borrower
shall maintain compliance with all permits, laws, rules and regulations, consent orders and all other orders of applicable courts,
regulatory agencies, and similar governmental authorities.

 

5.6. Leases. Borrower shall maintain
its present leases in accordance with their respective terms, and shall not enter into new or amended lease instruments.

 

5.7. Payments. Except with respect
to the Loan, Borrower shall not make any payment, or incur any obligation to make any payment in the ordinary course of business
in excess of $25,000 without the prior written consent of the Lender.

 

5.8. Loan Documents. Borrower shall
comply in all respects with the terms of all other Loan Documents.

 

5.9. Indebtedness. Borrower shall
not incur any indebtedness other than: (i) trade debt incurred in the ordinary course of business, (ii) purchase money obligations
in the ordinary course of business up to $25,000, or (iii) taxes and assessments not delinquent or actively being contested in
good faith by Borrower and for which Borrower has adequate reserves.

 

5.10. Liens. Borrower shall not permit
to exist against any of its assets any Lien except for (i) Permitted Liens (as defined in the Security Agreement), (ii) taxes and
assessments not delinquent or actively being contested in good faith by Borrower and for which Borrower has adequate reserves,
or (iii) deposits or pledges for goods or services made in the ordinary course of business.

 

5.11. Mergers. Borrower shall not
merge or consolidate with or into any other corporation, or sell, assign, lease or otherwise dispose of or voluntarily part with
the control (whether in one transaction or in a series of related transactions) of assets (whether now owned or hereafter acquired)
having a fair market value of more than $25,000 at the time(s) of transfer, or sell, assign or otherwise dispose of (whether in
one transaction or in a series of transactions) any of its accounts receivable (whether now in existence or hereafter created)
at a discount or with recourse, to any person, except sales or other dispositions of assets in the ordinary course of business.

 

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5.12. Issuance of Capital Stock.
Borrower shall not issue, or agree or commit to issue, any shares of capital stock, or to issue or grant any option, warrant, security
or other rights (contingent or otherwise) to purchase or acquire shares of its capital stock, or any bond, debenture or other instrument
or obligation which has the power to vote in respect to the corporate affairs and management of Borrower.

 

5.13. Charter Documents. Borrower
shall not make any amendment to its Certificate of Incorporation or its By-Laws.

 

Within three (3) business days following
Borrower’s request for a waiver of any provision of this Article V, the Lender shall provide Borrower with their response
to such request.

 

ARTICLE VI - DEFAULTS AND REMEDIES

 

6.1. An “Event of Default” occurs
if:

 

(a) Borrower defaults in the payment
of any principal or interest of the Note when the same shall become due, either by the terms thereof or otherwise as herein provided;
or

 

(b) Borrower defaults in the performance
or observance of any other agreement, term or condition contained in the Note or the other Loan Documents; or

 

(c) Borrower shall default in
the payment of any principal of, or premium, if any, or interest on, any other indebtedness in excess of $25,000 or obligation
with respect to borrowed money after expiration of any grace or cure period or shall default in the performance of any material
term of any instrument evidencing such indebtedness or of any mortgage, indenture or agreement relating thereto after expiration
of any grace or cure period, and the effect of such default is to cause or to permit the holder or holders of such obligation to
cause, such indebtedness or obligation to become due and payable prior to its stated maturity; or

 

(d) Borrower pursuant to or within
the meaning of any Bankruptcy Law:

 

(i) commences a voluntary case,

 

(ii) consents to the entry of an
order for relief against it in an involuntary case,

 

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(iii) consents to the appointment
of a Custodian of it or for all or substantially all of its property,

 

(iv) makes a general assignment
for the benefit of its creditors, or

 

(v) is the debtor in an involuntary
case which is not dismissed within thirty (30) days of the commencement thereof, or

 

(f) A court of competent jurisdiction
enters an order or decree under any Bankruptcy Law that:

 

(i) provides for relief against
Borrower in an involuntary case,

 

(ii) appoints a Custodian of Borrower
for all or substantially all of its property, or

 

(iii) orders the liquidation of
Borrower,

 

(g) A final judgment for the payment
of money in an amount in excess of $25,000 shall be rendered against Borrower (other than any judgment as to which a reputable
insurance company shall have accepted full liability in writing) and shall remain undischarged for a period (during which execution
shall not be effectively stayed) of 20 days after the date on which the right to appeal has expired;

 

(h) Any representation or warranty
made by Borrower in this Agreement, any other Loan Document or in any other document or instrument furnished in connection with
the transactions contemplated hereby shall prove to be materially false or incorrect on the date as of which such representation
or warranty was made; or

 

(i) An event shall occur or there
exist facts or circumstances which create or result in a Company Material Adverse Effect;

 

then and in any such case (x) upon the occurrence
of any Event of Default described in paragraphs (e) or (f), the unpaid principal amount of and accrued interest on the Note shall
automatically become due and payable, without presentment, demand, protest or notice of any kind, all of which are hereby waived
by Borrower, and (y) upon the occurrence of any other Event of Default, in addition to any other rights, powers and remedies permitted
by law or in equity, the Lender may, at its option, by notice in writing to Borrower, declare the Note to be, and the Note shall
thereupon be and become, immediately due and payable, together with interest accrued thereon and all other sums due hereunder,
without presentment, demand, protest or other notice of any kind, all of which are waived by Borrower.

 

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Upon the occurrence of any Event of Default,
the holder of the Note may proceed to protect and enforce its rights by an action at law, suit in equity or other appropriate proceeding,
whether for the specific performance of any agreement contained herein or in the Note held by it, for an injunction against a violation
of any of the terms hereof or thereof, or for the pursuit of any other remedy which it may have by virtue of this Agreement, the
Security Agreement or pursuant to applicable law. Borrower shall pay to the holder of the Notes upon demand the reasonable costs
and expenses of collection and of any other actions referred to in this Article, including without limitation reasonable attorneys’
fees, expenses and disbursements.

 

No course of dealing and no delay on the
part of the holder of the Note in exercising any of its rights shall operate as a waiver thereof or otherwise prejudice the rights
of such holders, nor shall any single or partial exercise of any right, power or remedy preclude any other or further exercise
thereof or the exercise of any other right, power or remedy hereunder. No right, power or remedy conferred hereby or by the Note
on the holder thereof shall be exclusive of any other right, power or remedy referred to herein or therein or now or hereafter
available at law, in equity, by statute or otherwise.

 

6.2 Rights with Regard to the Borrower Control
Shares.

 

(a) If any one or more of the
Events of Default shall occur or shall exist, the Lender may then or at any time thereafter, so long as such default shall continue,
foreclose the lien or security interest in the Borrower Control Shares in any way permitted by law, or upon fifteen (15) days prior
written notice to the Borrower and the Stockholders, sell any or all Borrower Control Shares at private sale at any time or place
in one or more sales, at such price or prices and upon such terms, either for cash or on credit, as the Lender, in its sole discretion,
may elect, or sell any or all Borrower Control Shares at public auction, either for cash or on credit, as the Lender, in its sole
discretion, may elect, and at any such sale, the Lender may bid for and become the purchaser of any or all such Borrower Control
Shares. Pending any such action the Lender may liquidate the Borrower Control Shares.

 

(b) If any one or more of the
Events of Default shall occur or shall exist, the Lender may then, or at any time thereafter, so long as such default shall continue,
grant extensions to, or adjust claims of, or make compromises or settlements with, debtors, guarantors or any other parties with
respect to Borrower Control Shares or any securities, guarantees or insurance applying thereon, without notice to or the consent
of the Borrower or the Stockholders, without affecting the Borrower’s or the Stockholder’s liability under this Agreement
or the Notes. Each of the Borrower and the Stockholder waives notice of acceptance, of nonpayment, protest or notice of protest
or any of its contract rights and any other notices to which the Borrower or the Stockholder may be entitled.

 

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(c) If any one or more of the
Events of Default shall occur or shall exist and be continuing, then in any such event, the Lender shall have such additional rights
and remedies in respect of the Borrower Control Shares or any portion thereof as are provided by the Uniform Commercial Code (the
“Code”) as in effect in the State of New York and such other rights and remedies in respect thereof which it may have
at law or in equity or under this Agreement without demand or notice and without prior judicial hearing or legal proceedings, which
the Borrower and the Stockholder expressly waive.

 

(d) The Lender shall apply the
Proceeds, as defined in the Code, of any sale or liquidation of the Borrower Control Shares, first to the payment of the reasonable
costs and expenses incurred by the Lender in connection with such sale or collection, including without limitation reasonable attorneys’
fees and legal expenses, second to the payment of the Debt, whether on account of principal or interest or otherwise as the Lender,
in its sole discretion, may elect, and then to pay the balance, if any, to the Borrower or as otherwise required by law. If such
Proceeds are insufficient to pay the amounts required by law, the Borrower shall be liable for any deficiency.

 

6.3. For purposes of this Article, the following
definitions shall apply:

 

“Bankruptcy Law” means Title
11, U.S. Code or any similar federal or state law for the relief of debtors, or equivalent law of a non-U.S. jurisdiction.

 

“Custodian” means any receiver,
trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

ARTICLE VII – NOTICES

 

All notices, requests and demands shall
be given to or made upon the respective parties hereto in writing, such address as may be designated by it in a written notice
to the other party. All notices, requests, consents and demands hereunder shall be effective when duly deposited in the mails (by
overnight delivery by a nationally-recognized overnight courier service or by United States registered or certified mail, postage
prepaid, return receipt requested) with a copy via facsimile. Unless the parties designate otherwise, notices should be addressed
as follows:

 

If to Borrower or to the Stockholders:

 

	 	Cromwell Uranium Holdings, Inc.
	 	8655 East Via De Ventura
	 	Suite G2000
	 	Scottsdale, AZ 85258
	 	Attn: Robert McIntosh, Chief Executive Officer
	 	Facsimile: [insert]

 

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with a copy to:

 

	 	[insert counsel]

 

If to Lender:

 

	 	Cromwell Uranium Corp.
	 	1640 Terrace Way
	 	Walnut Creek, CA 94597
	 	Attn: David Rector, President and Chief Executive Officer
	 	Facsimile: (925) 930-6338

 

with a copy to:

 

	 	Gottbetter & Partners, LLP
	 	488 Madison Avenue, 12th Floor
	 	New York, NY 10022
	 	Attn: Adam S. Gottbetter, Esq.
	 	Facsimile: (212) 400-6901

 

ARTICLE VIII – CONDITIONS TO THE LOAN

 

8.1 Conditions to Borrowing. The
obligation of the Lender to make the Loan is subject to the satisfaction of such of the following conditions as shall not have
been expressly waived in writing by the Lender:

 

(a) each of the representations
and warranties made by the Borrower in or pursuant to the Loan Documents shall be true and correct in all material respects on
and as of the Loan Date;

 

(b) immediately before and after
the making of the Loan, no Event of Default shall have occurred and be continuing;

 

(c) receipt by the Lender of all
documents it may reasonably request relating to the existence of the Borrower, the corporate authority for and the validity and
enforceability of the Loan Documents, and any other matters relevant hereto, all in form and substance reasonably satisfactory
to the Lender.

 

ARTICLE IX – MISCELLANEOUS

 

9.1. Governing Law. This Agreement
shall be governed by and construed in accordance with the laws of the State of New York, without regard to conflicts of laws principles
thereof.

 

9.2. Amendment. This Agreement may
be amended, modified or terminated only by an instrument in writing signed by all parties.

 

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9.3. No Assignment. Neither this
Agreement nor any right or obligation provided for herein may be assigned by any party without the prior written consent of the
other parties.

 

9.4. Successors. The terms and provisions
of this Agreement shall be binding upon and inure to the benefit of, and be enforceable by, the respective successors and assigns
of the parties hereto.

 

9.5. Counterparts. The Agreement
may be executed in any number of counterparts, with the same effect as if all parties had signed the same document. All such counterparts
shall be deemed an original, shall be construed together and shall constitute one and the same instrument. This Agreement may be
executed by facsimile signature.

 

9.6. Construction. The language used
in this Agreement shall be deemed to be the language chosen by the parties to express their mutual intent, and no rule of strict
construction shall be applied against any party.

 

9.7. Headings. The section headings
contained in this Agreement are inserted for convenience only and shall not affect in any way the meaning or interpretation of
this Agreement.

 

9.8. Severability. Any term or provision
of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall not affect the validity or enforceability
of the remaining terms and provisions hereof or the validity or enforceability of the offending term or provision in any other
situation or in any other jurisdiction. If the final judgment of a court of competent jurisdiction declares that any term or provision
hereof is invalid or unenforceable, the parties agree that the court making the determination of invalidity or unenforceability
shall have the power to limit the term or provision, to delete specific words or phrases, or to replace any invalid or unenforceable
term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of
the invalid or unenforceable term or provision, and this Agreement shall be enforceable as so modified.

 

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IN WITNESS WHEREOF, the parties hereto have
caused this Bridge Loan and Control Share Pledge and Security Agreement to be duly executed as of the day and year first above
written.

 

	LENDER:	 	BORROWER:
	 	 	 
	CROMWELL URANIUM CORP.	 	CROMWELL URANIUM HOLDINGS, INC.
	 	 	 
	By: 	/s/ David Rector	 	By:	/s/ Robert McIntosh
	Name: David Rector	 	Name:Robert McIntosh
	Title:   Chief Executive Officer	 	Title:  Chief Executive Officer
	 	 	 
	STOCKHOLDER:	 	 
	 	 	 
	/s/ Robert McIntosh	 	 
	 	 	 
	ROBERT MCINTOSH	 	 
	 	 	 	 	 

 

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EXHIBIT A

 

Promissory Note

 

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EXHIBIT B

 

Security Agreement

 

    	15CANCELLATION AGREEMENT

 

CANCELLATION AGREEMENT,
dated December 22, 2010 (this “Agreement”), by and among, California Gold Corp., a Nevada corporation
(the “Company”), and James Davidson (the “Cancelling Party”).

 

BACKGROUND

 

WHEREAS, the Cancelling
Party is the record and beneficial owner of 35,727,625 shares of the Company's common stock, par value $0.001 per share, including
31,000,000 shares purchased from the Company on November 12, 2007 for a purchase price of $31,000 (the "2007 Shares");

 

WHEREAS, in an effort
to enhance the Company’s ability to raise financing in order to proceed with the implementation of its new business plan,
and to induce certain prospective investors to acquire securities of the Company in an ongoing private placement that is expected
to close (the “Closing”) no later than December 31, 2010, the Cancelling Party desires to have cancelled
and the Company desires to cancel 13,000,000 of the 2007 Shares (the "Subject Shares") in exchange for
$13,000 (the "Cash Consideration").

 

AGREEMENT

 

NOW, THEREFORE, in
consideration of the mutual promises herein contained and for other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties hereto agree as follows:

 

1.           Consideration.
In consideration for cancellation of the Subject Shares, the Company agrees to pay to the Cancelling Party the Cash Consideration,
by wire transfer of immediately available funds, concurrently with the Closing.

 

2.           Cancellation
of Subject Shares. The Cancelling Party has delivered to the Company for cancellation stock certificates representing the Subject
Shares along with duly executed medallion guaranteed stock powers covering the Subject Shares (or such other documents acceptable
to the Company’s transfer agent) and hereby irrevocably instructs the Company and the Company’s transfer agent to cancel
the Subject Shares, immediately following the Closing, such that the Subject Shares will no longer be outstanding on the stock
ledger of the Company and such that the Cancelling Party shall no longer have any interest in the Subject Shares whatsoever. The
Company shall immediately deliver to the Company’s transfer agent irrevocable instructions providing for the cancellation
of the Subject Shares.

 

3.           Release.
For and in consideration of the covenants and promises contained herein, the Cancelling Party,
together with his heirs, executors, administrators, and assigns, does hereby remise, release and forever discharge the Company,
its respective directors, officers, shareholders, employees and agents, and their respective successors and assigns, of and from
all claims, causes of action, suits and demands whatsoever which the Cancelling Party ever had,
now or may have howsoever arising out of the original purchase and this cancellation of the Subject Shares. 

 

    	 

    	 

    

 

4.           Representations
by the Cancelling Party.

 

(a)          The
Cancelling Party owns the Subject Shares, of record and beneficially, free and clear of all liens, claims, charges, security interests,
and encumbrances of any kind whatsoever. The Cancelling Party has sole control over the Subject Shares or sole discretionary authority
over any account in which they are held. Except for this Agreement, no person has any option or right to purchase or otherwise
acquire the Subject Shares, whether by contract of sale or otherwise, nor is there a “short position” as to the Subject
Shares.

 

(b)          The
Cancelling Party has full right, power and authority to execute, deliver and perform this Agreement and to carry out the transactions
contemplated hereby. This Agreement has been duly and validly executed and delivered by the Cancelling Party and constitutes a
valid, binding obligation of the Cancelling Party, enforceable against it in accordance with its terms (except as such enforceability
may be limited by laws affecting creditor's rights generally).

 

5.           Further
Assurances. Each party to this Agreement will use his or its best efforts to take all action and to do all things necessary,
proper, or advisable in order to consummate and make effective the transactions contemplated by this Agreement (including the execution
and delivery of such other documents and agreements as may be necessary to effectuate the cancellation of the Subject Shares).

 

6.           Amendment
and Waiver. Any term, covenant, agreement or condition of this Agreement may be amended, with the written consent of the Company
and the Cancelling Party, or compliance therewith may be waived (either generally or in a particular instance and either retroactively
or prospectively), by one or more substantially concurrent written instruments signed by the Company and the Cancelling Party.

 

7.           Survival
of Agreements, Representations and Warranties, etc. All representations and warranties contained herein shall survive the execution
and delivery of this Agreement.

 

8.           Successors
and Assigns. This Agreement shall bind and inure to the benefit of and be enforceable by the Company and the Cancelling Party,
and their respective successors and assigns.

 

9.           Governing
Law. This Agreement (including the validity thereof and the rights and obligations of the parties hereunder and thereunder)
and all amendments and supplements hereof and thereof and all waivers and consents hereunder and thereunder shall be construed
in accordance with and governed by the internal laws of the State of New York without regard to its conflict of laws rules, except
to the extent the laws of Nevada are mandatorily applicable.

 

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10.          Miscellaneous.
This Agreement embodies the entire agreement and understanding between the parties hereto and supersedes all prior agreements and
understandings relating to the subject matter hereof. In case any provision of this Agreement shall be invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. This
Agreement may be executed in any number of counterparts and by the parties hereto on separate counterparts but all such counterparts
shall together constitute but one and the same instrument. This Agreement may be reproduced by any electronic, photographic, photostatic,
magnetic, microfilm, microfiche, microcard, miniature photographic, facsimile or other similar process and the original thereof
may be destroyed. The parties agree that any such reproduction shall, to the extent permitted by law, be as admissible in evidence
as the original itself in any judicial or administrative proceeding (whether or not the original is in existence and whether or
not the reproduction was made in the regular course of business) and that any enlargement, facsimile or further reproduction shall
likewise be admissible in evidence. Facsimile execution and delivery of this Agreement is legal, valid and binding execution and
delivery for all purposes.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the date first above written.

 

	 	CALIFORNIA GOLD CORP.
	 	 
	 	By:	/s/ James Davidson
	 	 	Name: James Davidson
	 	 	Title: President and CEO
	 	 	 
	 	 	/s/ James Davidson
	 	 	JAMES DAVIDSON

 

[Signature Page to Cancellation Agreement]

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