Document:

Exhibit 10.3

AGREEMENT TO CONVERT DEBT

 

 

THIS AGREEMENT
is made and entered into effective the 31st day of December, 2020, by and between ATHENA SILVER CORPORATION, a Delaware
corporation ("Athena" or the "Company"), and John D. Gibbs (Claimant").

 

WITNESSETH

 

WHEREAS, the
Company, or an affiliate of the Company, has an outstanding debt with Claimant in the particulars hereinbelow set forth; and

 

WHEREAS, the
Company desires to satisfy that obligation by the issuance to Claimant of shares of common stock of the Company ("Shares");
and

 

WHEREAS, Claimant
is willing to accept said Shares in lieu of cash or money in payment of Athena’s obligation to Claimant;

 

NOW, THEREFORE,
in consideration of the mutual covenants and agreements hereinbelow set forth, and for such good and other valuable consideration,
the receipt and sufficiency whereof is hereby acknowledged, the parties agree as follows:

 

SECTION I.:     CONVERSION
OF DEBT

 

		A.	Claimant and Athena affirm and agree that as of the date of this Agreement, Athena is indebted
to Claimant for $2,244,870 of advances its Convertible Credit Facility since July 18, 2012 together with accrued interest of $668,011.72
accrued interest

 

B.       Claimant,
for his/its successors in interest and assigns, agrees to accept, as payment in full of $315,000 in unpaid principal advances on
the Convertible Credit Facility for the periods stated in Section I(A) an aggregate of 7,000,000 Shares of Common Stock, valued
at $0.045 per Share. It is understood that Claimant's acceptance of 7,000,000 Shares in payment of the Indebtedness shall not discharge
or otherwise satisfy the outstanding indebtedness and obligation of Athena to Claimant in excess of the Indebtedness.

 

C.       Claimant
agrees that upon delivery to Claimant by Athena of a certificate or certificates representing 7,000,000 Shares, said Shares being
validly issued, fully paid and non-assessable, and Claimant's acceptance of such Shares, Claimant, for its successors in interest
and assigns, agrees to release and forever discharge Athena, its officers, directors, shareholders, affiliates, employees and agents,
from any liability, payment or obligation whatsoever in connection with or arising out of the Indebtedness. Claimant's acceptance
of such Shares shall constitute a full and complete release, settlement and discharge of any of Athena’s obligation to Claimant,
in connection with the Indebtedness, without the necessity of Claimant executing any further documentation, release or settlement
agreement; it being the express understanding of the parties hereto that this Agreement, upon its performance, shall constitute
such evidence of release and discharge.

 

D.       With
respect to accepting the Shares in lieu of other forms of payment of the Indebtedness, Claimant represents and warrants as follows:

 

 

1.       Claimant
fully understands that Athena has a limited net worth.

 

 

 

 

    	 	1	 

     

    

 

2.       Claimant
acknowledges receipt of such information as he deems necessary or appropriate as a prudent and knowledgeable investor in evaluating
the conversion of the obligation. The Claimant acknowledges that Athena has made available to him the opportunity to obtain additional
information to evaluate his status as an unsecured creditor and the alternatives available to him. The Claimant acknowledges that
he had an opportunity to ask questions of Athena and to the extent he availed himself of such opportunity, he received satisfactory
answers from Athena, or its affiliates.

 

3.       Claimant
understands that there exists inherent risks in accepting the Shares in lieu of payment of the obligation, which risks include,
but are not limited to, the lack of liquidity of the Shares, and the Company's history of unprofitable operations. Claimant agrees
to accept all risks associated with converting the Indebtedness and accepting the Shares in lieu of payment thereof.

 

SECTION II:     REPRESENTATIONS
AND WARRANTIES BY ATHENA:

 

Athena represents
and warrants to Claimant that, as of the date of this Agreement, and as of the date of closing:

 

A.       Organization
and Corporation Power.

 

The Company is a corporation
duly organized, validly existing, and in good standing under the laws of the State of Delaware; and has all required corporate
power and authority to own its property and to carry on its business as now being conducted, and to carry out the transactions
contemplated hereby.

 

B.       Authorization.

 

1.       The
execution and delivery of this Agreement do not, and the consummation of the transactions contemplated hereby will not, violate
any provision of any charter, articles of incorporation, by-law, mortgage, lien, lease, agreement, contract, instrument, order
judgment, or decree to which the Company is a party, or by which it is bound, and will not violate any other restriction of any
other kind or character of which Company is subject.

 

2.       The
Directors of the Company have taken or will take all action required by law, the Company's Articles of Incorporation and Bylaws,
or otherwise, to authorize execution and delivery of this Agreement, the shares and the consummation of the transactions described
herein.

 

3.       This
Agreement, upon execution and delivery in accordance herewith, is the valid and binding obligation of the Company, enforceable
in accordance with its terms, subject to the terms of bankruptcy and similar laws, and any rules and regulations adopted thereunder.
The execution, delivery and performance of this Agreement have been duly authorized by all necessary corporate and other action.

 

C.       Capitalization.

 

There are sufficient
authorized Shares of the Company to cover the issuance of all shares to be issued and sold pursuant to this Agreement. There are
no restrictions on the transferability of shares of the Company's Shares imposed by or pursuant to the Company's Articles of Incorporation,
or the Company's Bylaws, or by agreement to which the Company is a party, except for restrictions imposed by or on account of
federal and state securities laws.

 

SECTION III.:   REPRESENTATIONS AND
WARRANTIES BY CLAIMANT

 

Claimant represents
and warrants to Athena that, as of the date of this Agreement, and as of the date of closing, the following are true and accurate
to its knowledge and belief:

 

 

 

 

    	 	2	 

     

    

 

A.       No
Other Information Relied Upon.

 

Claimant represents,
warrants and agrees that he has been afforded the opportunity to make, and has made, all such investigation of Athena and its financial
condition, business, affairs and prospects as he deems appropriate. Claimant acknowledges receipt of such information as he deems
necessary or appropriate as a prudent and knowledgeable investor in evaluating the exchange of the shares. Claimant acknowledges
that Athena has made available to him the opportunity to obtain additional information to evaluate the merits and risks of this
exchange. Claimant acknowledges that he has had the opportunity to ask questions of Athena, and, to the extent he availed himself
such opportunity, he received satisfactory answers from Athena, its affiliates, associates, officers and directors.

 

B.       Nature
of the Risk.

 

Claimant represents,
warrants and agrees that he understands that Athena’s business is, by its nature, speculative; that Claimant is aware that
the financial resources of Athena are extremely limited and that it is very likely that the Company will require additional capital,
and there is no assurance that such capital will be available if necessary; that Claimant is familiar with the high degree of risk
that is involved in the Company's business, and that Claimant is financially able and willing to accept the substantial risk involved
in such investment, including the risk of loss of the entire amount invested.

 

C.       Unregistered
Shares.

 

Claimant represents
that he understands that the Athena shares of common stock have not been registered for sale under federal or state securities
laws and that said securities are being issued to Claimant pursuant to a claimed exemption from the registration requirements of
such laws which is based upon the fact that said securities are not being offered to the public. Claimant understands that in order
to satisfy such requirement he must be acquiring the shares with no view to making a public distribution of said securities and
the representations and warranties contained in this Section III are given with the intention that Athena may rely thereon
for purposes of claiming such exemption; and that he understands that he must bear the economic risk of his investment in the securities
for a substantial period of time, because the securities have not been registered under the federal or state securities laws, and
cannot be sold unless subsequently registered under such laws, or unless an exemption from such registration is available.

 

D.       Securities
Acquired for Investment; Limitations on Dispositions.

 

Claimant represents
that he is acquiring the securities for his own account and for investment and not with a view to, or for sale in connection with,
any distribution thereof in violation of the Securities Act of 1933, as amended. Claimant agrees that the stock will not be offered
for sale, sold or otherwise transferred for value and that no transfer thereof will be made by the Claimant unless (a) a registration
statement with respect thereto has become effective under the Securities Act of 1933, as amended, or (b) there is presented to
the Company an opinion of counsel for Claimant reasonably satisfactory to the Company that such registration is not required, or
(c) there is presented to the Company a letter from the Securities and Exchange Commission (said Commission having been informed
of all relevant circumstances) to the effect that in the event either the securities are transferred by Claimant without such registration
the Commission or the staff will not recommend any action. Claimant further agrees that the securities will not be offered for
sale, sold or otherwise transferred unless, in the opinion of legal counsel for Athena, such sale or disposition does not and will
not violate any provisions of any federal or state securities law or regulation. Claimant consents that any transfer agent of the
Company may be instructed not to transfer any of the securities unless it receives satisfactory evidence of compliance with the
foregoing provisions and that there may be endorsed upon any certificates (or instruments issued in substitution therefor), the
Company's regular legend regarding the sale of restricted securities.

 

SECTION IV.:   MISCELLANEOUS

 

A.       Payment
of Expenses of Prevailing Party in Dispute.

 

Unless otherwise specifically
provided for herein, in the event that there is a dispute concerning this Agreement, including, without limitation, the issue of
compliance with any term of this Agreement, the court may in its discretion, direct that the prevailing party shall be entitled
to reimbursement from the other party of reasonable attorneys' fees and other expenses incurred in resolving the said dispute.

 

 

 

 

    	 	3	 

     

    

 

B.       Survival
and Incorporation of Representations.

 

The representations,
warranties, covenants and agreements made herein or in any certificates or documents executed in connection herewith shall survive
the execution and delivery thereof, and all statements contained in any certificate or other document delivered by the Company
hereunder or in connection herewith shall be deemed to constitute representations and warranties made by the Company in this Agreement.

 

C.       Amendments
and Waivers.

 

This Agreement may
not be amended, nor may compliance with any term, covenant, agreement, condition or provision set forth herein be waived (either
generally or in a particular instance and either retroactively or prospectively) unless such amendment or waiver is agreed to in
writing by all parties hereto.

 

D.       Governing
Law.

 

This Agreement shall
be construed and enforced in accordance with and governed by the laws of the State of Colorado.

 

E.       Counterparts.

 

This Agreement may
be executed by telex, telecopy or other facsimile transmission, and such facsimile transmission shall be valid and binding to the
same extent as if it were an original. Further, this Agreement may be executed in counterparts, each of which shall be deemed an
original, but all of which shall together constitute one agreement.

 

F.       Severability.

 

Wherever there is
any conflict between any provision of this Agreement and any statute, law, regulation or judicial precedent, the latter shall prevail,
but in such event the provisions of this Agreement thus affected shall be curtailed and limited only to the extent necessary to
bring it within the requirement of the law. In the event that any part, section, paragraph or clause of this Agreement shall be
held by a court of proper jurisdiction to be invalid or unenforceable, the entire Agreement shall not fail on account thereof,
but the balance of the Agreement shall continue in full force and effect unless such construction would clearly be contrary to
the intention of the parties or would result in unconscionable injustice.

 

G.       Entire
Agreement.

 

This Agreement constitutes
the entire agreement of the parties hereto with respect to the subject matter hereof. There are no representations, warranties,
conditions, or obligations except as herein specifically provided. Any amendment or modification hereof must be in writing.

 

IN WITNESS WHEREOF,
the parties have signed the Agreement the date and year first above written.

 

 

ATHENA SILVER CORPORATION

a Delaware corporation

 

 

By:                                                                              

John Power, President

 

 

CLAIMANT:

 

By:                                                                              

John D. Gibbs

 

 

 

    	 	4Exhibit 10.4

AGREEMENT TO CONVERT DEBT

 

 

THIS AGREEMENT
is made and entered into effective the 28th day of December, 2020, by and between ATHENA SILVER CORPORATION, a
Delaware corporation ("Athena" or the "Company"), and John C. Power (Claimant").

 

WITNESSETH

 

WHEREAS, the
Company, or an affiliate of the Company, has an outstanding debt with Claimant in the particulars hereinbelow set forth; and

 

WHEREAS, the
Company desires to satisfy that obligation by the issuance to Claimant of shares of common stock of the Company ("Shares");
and

 

WHEREAS, Claimant
is willing to accept said Shares in lieu of cash or money in payment of Athena’s obligation to Claimant;

 

NOW, THEREFORE,
in consideration of the mutual covenants and agreements hereinbelow set forth, and for such good and other valuable consideration,
the receipt and sufficiency whereof is hereby acknowledged, the parties agree as follows:

 

SECTION I.:     CONVERSION
OF DEBT

 

		A.	Claimant and Athena affirm and agree that as of the date of this Agreement, Athena is indebted
to Claimant for $25,000 in cash advances made in December 2018.

 

B.       Claimant,
for his/its successors in interest and assigns, agrees to accept, as payment in full of $25,000 in unpaid advances for the periods
stated in Section I(A) an aggregate of 555,556 Shares of Common Stock, valued at $0.045 per Share. It is understood that Claimant's
acceptance of 555,556 Shares in payment of the Indebtedness shall not discharge or otherwise satisfy the outstanding indebtedness
and obligation of Athena to Claimant in excess of the Indebtedness.

 

C.       Claimant
agrees that upon delivery to Claimant by Athena of a certificate or certificates representing 555,556 Shares, said Shares being
validly issued, fully paid and non-assessable, and Claimant's acceptance of such Shares, Claimant, for its successors in interest
and assigns, agrees to release and forever discharge Athena, its officers, directors, shareholders, affiliates, employees and agents,
from any liability, payment or obligation whatsoever in connection with or arising out of the Indebtedness. Claimant's acceptance
of such Shares shall constitute a full and complete release, settlement and discharge of any of Athena’s obligation to Claimant,
in connection with the Indebtedness, without the necessity of Claimant executing any further documentation, release or settlement
agreement; it being the express understanding of the parties hereto that this Agreement, upon its performance, shall constitute
such evidence of release and discharge.

 

D.       With
respect to accepting the Shares in lieu of other forms of payment of the Indebtedness, Claimant represents and warrants as follows:

 

 

1.       Claimant
fully understands that Athena has a limited net worth.

 

 

 

 

 

    	 	1	 

     

    

 

2.       Claimant
acknowledges receipt of such information as he deems necessary or appropriate as a prudent and knowledgeable investor in evaluating
the conversion of the obligation. The Claimant acknowledges that Athena has made available to him the opportunity to obtain additional
information to evaluate his status as an unsecured creditor and the alternatives available to him. The Claimant acknowledges that
he had an opportunity to ask questions of Athena and to the extent he availed himself of such opportunity, he received satisfactory
answers from Athena, or its affiliates.

 

3.       Claimant
understands that there exists inherent risks in accepting the Shares in lieu of payment of the obligation, which risks include,
but are not limited to, the lack of liquidity of the Shares, and the Company's history of unprofitable operations. Claimant agrees
to accept all risks associated with converting the Indebtedness and accepting the Shares in lieu of payment thereof.

 

SECTION II:     REPRESENTATIONS
AND WARRANTIES BY ATHENA:

 

Athena represents
and warrants to Claimant that, as of the date of this Agreement, and as of the date of closing:

 

A.       Organization
and Corporation Power.

 

The Company is a corporation
duly organized, validly existing, and in good standing under the laws of the State of Delaware; and has all required corporate
power and authority to own its property and to carry on its business as now being conducted, and to carry out the transactions
contemplated hereby.

 

B.       Authorization.

 

1.       The
execution and delivery of this Agreement do not, and the consummation of the transactions contemplated hereby will not, violate
any provision of any charter, articles of incorporation, by-law, mortgage, lien, lease, agreement, contract, instrument, order
judgment, or decree to which the Company is a party, or by which it is bound, and will not violate any other restriction of any
other kind or character of which Company is subject.

 

2.       The
Directors of the Company have taken or will take all action required by law, the Company's Articles of Incorporation and Bylaws,
or otherwise, to authorize execution and delivery of this Agreement, the shares and the consummation of the transactions described
herein.

 

3.       This
Agreement, upon execution and delivery in accordance herewith, is the valid and binding obligation of the Company, enforceable
in accordance with its terms, subject to the terms of bankruptcy and similar laws, and any rules and regulations adopted thereunder.
The execution, delivery and performance of this Agreement have been duly authorized by all necessary corporate and other action.

 

C.       Capitalization.

 

There are sufficient
authorized Shares of the Company to cover the issuance of all shares to be issued and sold pursuant to this Agreement. There are
no restrictions on the transferability of shares of the Company's Shares imposed by or pursuant to the Company's Articles of Incorporation,
or the Company's Bylaws, or by agreement to which the Company is a party, except for restrictions imposed by or on account of federal
and state securities laws.

 

SECTION III.:    REPRESENTATIONS AND
WARRANTIES BY CLAIMANT

 

Claimant represents
and warrants to Athena that, as of the date of this Agreement, and as of the date of closing, the following are true and accurate
to its knowledge and belief:

 

 

 

 

    	 	2	 

     

    

 

A.       No
Other Information Relied Upon.

 

Claimant represents,
warrants and agrees that he has been afforded the opportunity to make, and has made, all such investigation of Athena and its financial
condition, business, affairs and prospects as he deems appropriate. Claimant acknowledges receipt of such information as he deems
necessary or appropriate as a prudent and knowledgeable investor in evaluating the exchange of the shares. Claimant acknowledges
that Athena has made available to him the opportunity to obtain additional information to evaluate the merits and risks of this
exchange. Claimant acknowledges that he has had the opportunity to ask questions of Athena, and, to the extent he availed himself
such opportunity, he received satisfactory answers from Athena, its affiliates, associates, officers and directors.

 

B.       Nature
of the Risk.

 

Claimant represents,
warrants and agrees that he understands that Athena’s business is, by its nature, speculative; that Claimant is aware that
the financial resources of Athena are extremely limited and that it is very likely that the Company will require additional capital,
and there is no assurance that such capital will be available if necessary; that Claimant is familiar with the high degree of risk
that is involved in the Company's business, and that Claimant is financially able and willing to accept the substantial risk involved
in such investment, including the risk of loss of the entire amount invested.

 

C.       Unregistered
Shares.

 

Claimant represents
that he understands that the Athena shares of common stock have not been registered for sale under federal or state securities
laws and that said securities are being issued to Claimant pursuant to a claimed exemption from the registration requirements of
such laws which is based upon the fact that said securities are not being offered to the public. Claimant understands that in order
to satisfy such requirement he must be acquiring the shares with no view to making a public distribution of said securities and
the representations and warranties contained in this Section III are given with the intention that Athena may rely thereon
for purposes of claiming such exemption; and that he understands that he must bear the economic risk of his investment in the securities
for a substantial period of time, because the securities have not been registered under the federal or state securities laws, and
cannot be sold unless subsequently registered under such laws, or unless an exemption from such registration is available.

 

D.       Securities
Acquired for Investment; Limitations on Dispositions.

 

Claimant represents
that he is acquiring the securities for his own account and for investment and not with a view to, or for sale in connection with,
any distribution thereof in violation of the Securities Act of 1933, as amended. Claimant agrees that the stock will not be offered
for sale, sold or otherwise transferred for value and that no transfer thereof will be made by the Claimant unless (a) a registration
statement with respect thereto has become effective under the Securities Act of 1933, as amended, or (b) there is presented to
the Company an opinion of counsel for Claimant reasonably satisfactory to the Company that such registration is not required, or
(c) there is presented to the Company a letter from the Securities and Exchange Commission (said Commission having been informed
of all relevant circumstances) to the effect that in the event either the securities are transferred by Claimant without such registration
the Commission or the staff will not recommend any action. Claimant further agrees that the securities will not be offered for
sale, sold or otherwise transferred unless, in the opinion of legal counsel for Athena, such sale or disposition does not and will
not violate any provisions of any federal or state securities law or regulation. Claimant consents that any transfer agent of the
Company may be instructed not to transfer any of the securities unless it receives satisfactory evidence of compliance with the
foregoing provisions and that there may be endorsed upon any certificates (or instruments issued in substitution therefor), the
Company's regular legend regarding the sale of restricted securities.

 

SECTION IV.:    MISCELLANEOUS

 

A.       Payment
of Expenses of Prevailing Party in Dispute.

 

Unless otherwise specifically
provided for herein, in the event that there is a dispute concerning this Agreement, including, without limitation, the issue of
compliance with any term of this Agreement, the court may in its discretion, direct that the prevailing party shall be entitled
to reimbursement from the other party of reasonable attorneys' fees and other expenses incurred in resolving the said dispute.

 

 

 

 

    	 	3	 

     

    

 

B.       Survival
and Incorporation of Representations.

 

The representations,
warranties, covenants and agreements made herein or in any certificates or documents executed in connection herewith shall survive
the execution and delivery thereof, and all statements contained in any certificate or other document delivered by the Company
hereunder or in connection herewith shall be deemed to constitute representations and warranties made by the Company in this Agreement.

 

C.       Amendments
and Waivers.

 

This Agreement may
not be amended, nor may compliance with any term, covenant, agreement, condition or provision set forth herein be waived (either
generally or in a particular instance and either retroactively or prospectively) unless such amendment or waiver is agreed to in
writing by all parties hereto.

 

D.       Governing
Law.

 

This Agreement shall
be construed and enforced in accordance with and governed by the laws of the State of Colorado.

 

E.       Counterparts.

 

This Agreement may
be executed by telex, telecopy or other facsimile transmission, and such facsimile transmission shall be valid and binding to the
same extent as if it were an original. Further, this Agreement may be executed in counterparts, each of which shall be deemed an
original, but all of which shall together constitute one agreement.

 

F.       Severability.

 

Wherever there is
any conflict between any provision of this Agreement and any statute, law, regulation or judicial precedent, the latter shall prevail,
but in such event the provisions of this Agreement thus affected shall be curtailed and limited only to the extent necessary to
bring it within the requirement of the law. In the event that any part, section, paragraph or clause of this Agreement shall be
held by a court of proper jurisdiction to be invalid or unenforceable, the entire Agreement shall not fail on account thereof,
but the balance of the Agreement shall continue in full force and effect unless such construction would clearly be contrary to
the intention of the parties or would result in unconscionable injustice.

 

G.       Entire
Agreement.

 

This Agreement constitutes
the entire agreement of the parties hereto with respect to the subject matter hereof. There are no representations, warranties,
conditions, or obligations except as herein specifically provided. Any amendment or modification hereof must be in writing.

 

IN WITNESS WHEREOF,
the parties have signed the Agreement the date and year first above written.

 

 

ATHENA SILVER CORPORATION

a Delaware corporation

 

 

By:                                                                              

John Power, President

 

 

CLAIMANT:

 

By:                                                                              

 

 

 

 

    	 	4

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