Document:

Exhibit 10.6

 

LICENSE AGREEMENT

 

This LICENSE AGREEMENT (this “Agreement”) is made and effective as of June 4, 2020 (the “Effective Date”) by and between Owl Rock Capital Partners LP (the “Licensor”), a Delaware limited partnership, and Owl Rock Capital Corporation III, a Maryland corporation (the “Licensee”) (each a “party,” and collectively, the “parties”).

 

RECITALS

 

WHEREAS, Licensor has certain common law rights in the trade name “Owl Rock” (the “Licensed Name”);

 

WHEREAS, Licensor has registered the Licensed Name as a trademark in the United States;

 

WHEREAS, the Licensee is a closed-end management investment company that intends to elect to be treated as a business development company under the Investment Company Act of 1940, as amended;

 

WHEREAS, pursuant to the Investment Advisory Agreement, dated as of June 4, 2020, by and between the Owl Rock Diversified Advisors LLC (the “Adviser”) and the Licensee (the “Advisory Agreement”), the Licensee has engaged the Adviser to act as the investment adviser to the Licensee;

 

WHEREAS, the Adviser is an indirect subsidiary of the Licensor; and

 

WHEREAS, the Licensee desires to use the Licensed Name in connection with the operation of its business, and the Licensor is willing to permit the Licensee to use the Licensed Name, subject to the terms and conditions of this Agreement.

 

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

ARTICLE 1

LICENSE GRANT

 

1.1 License.  Subject to the terms and conditions of this Agreement, Licensor hereby grants to the Licensee, and the Licensee hereby accepts from Licensor, a personal, non-exclusive, royalty-free right and license to use the Licensed Name solely and exclusively as an element of the Licensee’s own company name and in connection with the conduct of its business.  Except as provided above, neither the Licensee nor any affiliate, owner, director, officer, employee, or agent thereof shall otherwise use the Licensed Name or any derivative thereof without the prior express written consent of the Licensor to be provided in Licensor’s sole and absolute discretion.  All rights not expressly granted to the Licensee hereunder shall remain the exclusive property of Licensor.

 

1.2 Licensor’s Use.  Nothing in this Agreement shall preclude Licensor, its affiliates, or any of its respective successors or assigns from using or permitting other entities to use the Licensed Name whether or not such entity directly or indirectly competes or conflicts with the Licensee’s business in any manner.

 

ARTICLE 2

OWNERSHIP

 

2.1 Ownership.  The Licensee acknowledges and agrees that Licensor is the owner of all right, title, and interest in and to the Licensed Name, and all such right, title, and interest shall remain with the Licensor.  The Licensee shall not otherwise contest, dispute, or challenge Licensor’s right, title, and interest in and to the Licensed Name.

 

1

 

2.2 Goodwill.  All goodwill and reputation generated by Licensee’s use of the Licensed Name shall inure to the benefit of Licensor.  The Licensee shall not by any act or omission use the Licensed Name in any manner that disparages or reflects adversely on Licensor or its business or reputation.  Except as expressly provided herein, neither party may use any trademark or service mark of the other party without that party’s prior written consent, which consent shall be given or withheld in that party’s sole discretion.

 

ARTICLE 3

COMPLIANCE

 

3.1 Quality Control.  In order to preserve the inherent value of the Licensed Name, the Licensee agrees to use reasonable efforts to ensure that it maintains the quality of the Licensee’s business and the operation thereof equal to the standards prevailing in the operation of the Licensor’s and the Licensee’s business as of the date of this Agreement.  The Licensee further agrees to use the Licensed Name in accordance with such quality standards as may be reasonably established by Licensor and communicated to the Licensee from time to time in writing, or as may be agreed to by Licensor and the Licensee from time to time in writing.

 

3.2 Compliance With Laws.  The Licensee agrees that the business operated by it in connection with the Licensed Name shall comply in all material respects with all laws, rules, regulations, and requirements of any governmental body in the United States of America (the “Territory”) or elsewhere as may be applicable to the operation, advertising, and promotion of the business, and that it shall notify Licensor of any action that must be taken by the Licensee to comply with such law, rules, regulations, or requirements.

 

3.3 Notification of Infringement.  Each party shall immediately notify the other party and provide to the other party all relevant background facts upon becoming aware of (i) any registrations of, or applications for registration of, marks in the Territory that do or may conflict with the Licensed Name, and (ii) any infringements, imitations, or illegal use or misuse of the Licensed Name in the Territory.

 

ARTICLE 4

REPRESENTATIONS AND WARRANTIES

 

4.1 Mutual Representations.  Each party hereby represents and warrants to the other party as follows:

 

(a) Due Authorization.  Such party is duly formed and in good standing as of the Effective Date, and the execution, delivery and performance of this Agreement by such party have been duly authorized by all necessary action on the part of such party.

 

(b) Due Execution.  This Agreement has been duly executed and delivered by such party and, with due authorization, execution, and delivery by the other party, constitutes a legal, valid, and binding obligation of such party, enforceable against such party in accordance with its terms.

 

(c) No Conflict.  Such party’s execution, delivery, and performance of this Agreement does not: (i) violate, conflict with or result in the breach of any provision of the organizational documents of such party; (ii) conflict with or violate any law or governmental order applicable to such party or any of its assets, properties, or businesses; or (iii) conflict with, result in any breach of, constitute a default (or event which with the giving of notice or lapse of time, or both, would become a default) under, require any consent under, or give to others any rights of termination, amendment, acceleration, suspension, revocation, or cancellation of any contract, agreement, lease, sublease, license, permit, franchise, or other instrument or arrangement to which it is a party.

 

ARTICLE 5

TERM AND TERMINATION

 

5.1 Term.  This Agreement shall remain in effect only for so long as an affiliate of the Licensor remains the Licensee’s investment adviser.

 

2

 

5.2 Upon Termination.  Upon expiration or termination of this Agreement, all rights granted to the Licensee under this Agreement with respect to the Licensed Name shall cease, and the Licensee shall immediately discontinue use of the Licensed Name.

 

ARTICLE 6

MISCELLANEOUS

 

6.1 Assignment.  This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.  Neither party may assign, delegate, or otherwise transfer this Agreement or any of its rights or obligations hereunder without the prior written consent of the other party; provided, however, that the Licensor may assign this Agreement to an affiliate without Licensee’s consent.  No assignment by either party permitted hereunder shall relieve the applicable party of its obligations under this Agreement.  Any assignment by either party in accordance with the terms of this Agreement shall be pursuant to a written assignment agreement in which the assignee expressly assumes the assigning party’s rights and obligations hereunder. Notwithstanding anything to the contrary contained in this Agreement, the rights and obligations of the Licensee under this Agreement shall be deemed to be assigned to a newly-formed entity in the event of the merger of the Licensee into, or conveyance of all of the assets of the Licensee to, such newly-formed entity; provided, further, however, that the sole purpose of that merger or conveyance is to effect a mere change in the Licensee’s legal form into another limited liability entity.

 

6.2 Independent Contractor.  This Agreement does not give any party, or permit any party to represent that it has any power, right, or authority to bind the other party to any obligation or liability, or to assume or create any obligation or liability on behalf of the other party.

 

6.3 Notices.  All notices, requests, claims, demands, and other communications hereunder shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service (with signature required), by facsimile, or by registered or certified mail (postage prepaid, return receipt requested) to the other party at its principal office.

 

6.4 Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of New York applicable to contracts formed and to be performed entirely within the State of New York, without regarding the conflicts of law principles or rules thereof to the extent such principles would require or permit the application of the laws of another jurisdiction. The parties unconditionally and irrevocably consent to the exclusive jurisdiction of the courts located in the State of New York and waive any objection with respect thereto, for the purpose of any action, suit, or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby.

 

6.5 Amendment.  This Agreement may not be amended or modified except by an instrument in writing signed by all parties hereto.

 

6.6 No Waiver.  The failure of either party to enforce at any time for any period the provisions of or any rights deriving from this Agreement shall not be construed to be a waiver of such provisions or rights or the right of such party thereafter to enforce such provisions, and no waiver shall be binding unless executed in writing by all parties hereto.

 

6.7 Severability.  If any term or other provision of this Agreement is invalid, illegal, or incapable of being enforced by any law or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party.  Upon such determination that any term or other provision is invalid, illegal, or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible.

 

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6.8 Headings.  The descriptive headings contained in this Agreement are for convenience of reference only and shall not affect in any way the meaning or interpretation of this Agreement.

 

6.9 Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, and all of which together shall be deemed to be one and the same instrument.  Any party may deliver an executed copy of this Agreement and of any documents contemplated hereby by facsimile or other electronic transmission to another party and such delivery shall have the same force and effect as any other delivery of a manually signed copy of this Agreement or of such other documents.

 

6.10 Entire Agreement.  This Agreement constitutes the entire agreement of the parties with respect to the subject matter hereof and supersedes all prior agreements and undertakings, both written and oral, among the parties with respect to such subject matter.

 

6.11 Third-Party Beneficiaries.  Nothing in this Agreement, either express or implied, is intended to or shall confer upon any third party any legal or equitable right, benefit, or remedy of any nature whatsoever under or by reason of this Agreement.

 

[Remainder of Page Intentionally Blank]

 

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IN WITNESS WHEREOF, each party has caused this Agreement to be executed as of the Effective Date by its duly authorized officer.

 

	
 
    	
LICENSOR:
    
	
 
    	
Owl   Rock Capital Partners LP
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
LICENSEE:
    
	
 
    	
Owl   Rock Capital Corporation III
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

5PROPERTY
PURCHASE AGREEMENT

 

THIS
PROPERTY PURCHASE AGREEMENT (hereinafter referred to as this “Agreement”) is made effective as of October 31,
2019.

BETWEEN:

 

37
CAPITAL INC. of Suite 400, 570 Granville Street, Vancouver, BC, V6C 3P1 

(hereinafter
referred to as "37 Capital")

OF
THE FIRST PART

AND: 

COLT
RESOURCES INC. of Suite 2209, 1111 Alberni Street, Vancouver, BC V6E 4V2

(hereinafter referred to as "Colt")

OF
THE SECOND PART

 

 

37
Capital and Colt shall hereinafter collectively be referred to as the “Parties”.

WHEREAS:

A.                                      
Colt holds a 67% right, interest and title in and to the mineral claims covering an area of 650 hectares which are located in
the Kamloops Mining Division of the Province of British Columbia, Canada (hereinafter referred to as the “Extra High Property”),
as more particularly described in Schedule "A" hereto;

 

B.                                       
Colt wishes to sell all of its 67% right, interest and title in and to the Extra High Property to 37 Capital, and 37 Capital wishes
to purchase from Colt all of Colt’s 67% right, interest and title in and to the Extra High Property, on the terms and conditions
of this Agreement; and

 

C.
The Parties wish to enter into this Agreement to formalize the Parties’ respective interests and the ongoing rights and
obligations of the Parties in and to the Extra High Property;

 

NOW
THEREFORE, this Agreement witnesses that in consideration of the mutual premises and covenants herein contained and other good
and valuable consideration, the receipt and sufficiency of which is acknowledged by each party hereto, the Parties hereto agree
as follows:

 

ARTICLE
1 

INTERPRETATION

 

1.1                                     
Currency. Unless otherwise expressly stated, all references to currency in this Agreement are references to the lawful
currency of Canada.

 

1.2                                        
Headings. The use of headings in this Agreement and the schedules hereto are solely for ease of reference and shall not
affect the interpretation or the construction of any provision hereof.

 

1.3                                        
References. Unless otherwise stated, a reference to an Article, Section or other organizational division shall refer to
the respective Article, Section or other organizational division of this Agreement.

 

ARTICLE
2 

CONSIDERATION
FOR THE PURCHASE AND SALE

 

2.1                                     
Consideration. Colt shall sell to 37 Capital, and 37 Capital shall purchase from Colt all of Colt’s 67% right, interest
and title in and to the Extra High Property, on the terms and conditions of this Agreement. 37 Capital shall pay to Colt:

 

(a)
$25,000 (Twenty-Five Thousand Dollars), payable at the closing as hereinbelow defined (the "Closing") of the purchase
and sale contemplated herein;

(b)
$75,000 (Seventy-Five Thousand Dollars) after 18 (Eighteen) months from the Closing; and

 

(c)
0.5% (Half of one percent) NSR (Net Smelter Returns) Royalty which shall be payable 60 business days after the commencement of
commercial production from the Extra High Property (hereinafter referred to as “Colt’s NSR Royalty”). 37 Capital
may, at its sole discretion, purchase Colt’s NSR Royalty at any time by making a payment of $500,000 (Five Hundred Thousand
Dollars) to Colt.

 

 

ARTICLE
3

MATTERS
RELATING TO THE PROPERTY

 

3.1                                    
Conduct of operations. All operations conducted by 37 Capital on the Extra High Property shall be in accordance with good
exploration, development, mining and reclamation practice, and in compliance with all applicable legislation.

 

3.2                                    
Maintenance of Property. 37 Capital shall carry out sufficient assessment or other work and/or pay sufficient fees in lieu
of such work to maintain the Extra High Property in good standing for a period of not less than 24 (Twenty-four) months from the
Closing.

 

ARTICLE
4 

CLOSING

 

 4.1 Closing. The completion of the purchase and sale contemplated herein shall take place at the office of 37 Capital on Monday, November 4, 2019. At the Closing:

 

 (a) Colt shall deliver to 37 Capital:

 

 (i) one or more instruments of transfer, in form and content satisfactory to 37 Capital with respect to the transfer of all of Colt’s 67% right, interest and title in and to the Extra High Property to 37 Capital;

 

 (ii) a certified copy of the resolutions of Colt’s directors authorizing this Agreement and the sale of all of Colt’s 67% right, interest and title in and to the Extra High Property to 37 Capital; and

 

 (iii) such other instruments and documents as 37 Capital may reasonably request;

 

 (b) 37 Capital shall deliver to Colt:

 

(i)
a certified cheque made payable to "Colt Resources Inc." in the amount of $25,000 (Twenty-Five Thousand
Dollars);

 

 (ii) a copy of the resolutions of 37 Capital’s directors authorizing this Agreement and the purchase of all of Colt’s 67% right, interest and title in and to the Extra High Property from Colt; and

 

(iii)
such other instruments and documents as Colt may reasonably request. 

 

ARTICLE
5

REPRESENTATIONS
AND WARRANTIES

 

5.1                                    
Colt's representations and warranties. Colt represents and warrants to 37 Capital that as at the date hereof and as at
the date of the Closing:

 

 (a) the Extra High Property is in good standing, free and clear of all liens, taxes, assessments, encumbrances and other charges of any nature or kind whatsoever, whether written or oral, direct or indirect;

 

 (b) there are no actions, suits, claims, proceedings, litigation or investigations pending, or to the best of the Colt's knowledge after due investigation, threatened, or any judgments outstanding and unsatisfied, against or affecting all or any part of the Extra High Property;

 

(c)
no other person or party has any agreement or other right to acquire any interest in the Extra High Property;

 

 (d) to the best of Colt's knowledge, information and belief, any and all previous work conducted on the Extra High Property by Colt was conducted in compliance with all applicable laws;

 

 (e) it has the full and undisputed power, right and authority to enter into and deliver this Agreement, to perform and observe the covenants and conditions on its part to be performed and observed herein, and to deal with the Extra High Property as provided for in this Agreement;

 

 (f) all necessary approvals of its directors and officers, and any further approvals that may be required in connection therewith, have been obtained to authorize the entering into and delivery of this Agreement and the taking of all actions required pursuant hereto by Colt;

 

 (g) neither the execution or delivery of this Agreement, nor the performance or observance of the provisions hereof, will conflict with or result in the violation, contravention or breach of, or constitute or result in a default under:

 

 (i) the constating documents of Colt or of any resolution of its directors or officers; or

 

 (ii) any agreement, written or oral, to which Colt may be a party or by which Colt is or may be bound; or

 

 (iii) any of the terms and provisions of any law applicable to Colt.

 

 (h) this Agreement has been duly executed and delivered by Colt and it constitutes a valid, legal and binding agreement enforceable against Colt in accordance with its terms;

 

 (j) Colt has made available to 37 Capital all information in its possession or control relating to the Extra High Property that it considers material;

 

(k)
Colt does not have any material information or knowledge of any material facts pertaining to the Extra High Property or substances
thereon or therein which it has not disclosed to 37 Capital and which if known to 37 Capital might reasonably be expected to deter
37 Capital from completing the transactions contemplated hereby; and

 

(l)
Colt is not a non-resident of Canada for the purposes of the Income Tax Act (Canada).

 

 5.2 37 Capital's representations and warranties. 37 Capital represents and warrants to Colt that as at the date hereof and as at the date of the Closing:

 

(a)
it has the full and undisputed power, right and authority to enter into and deliver this Agreement, to perform and observe the
covenants and conditions or its part to be performed and observed herein, and to deal with the Extra High Property as provided
for in this Agreement; 

 (b) all necessary approvals of its directors and officers have been obtained to authorize the entering into and delivery of this Agreement and the taking of all actions required pursuant hereto by 37 Capital;

 

 (c) neither the execution or delivery of this Agreement, nor the performance or observance of the provisions hereof, will conflict with or result in the violation, contravention or breach of, or constitute or result in a default under:

 

 (i) the constating documents of 37 Capital or of any resolution of its directors or officers;

 

 (ii) any agreement, written or oral, to which 37 Capital may be a party or by which 37 Capital is or may be bound; or

 

 (iii) any of the terms and provisions of any law applicable to 37 Capital;

 

 (d) this Agreement has been duly executed and delivered by 37 Capital and it constitutes a valid, legal and binding agreement enforceable against 37 Capital in accordance with its terms; and

 

 (e) 37 Capital is not a non-resident of Canada for the purposes of the Income Tax Act (Canada).

 

5.3                                     
Investigations. No investigation made by or on behalf of either of the Parties hereto at any time shall have the effect
of waiving, diminishing the scope of or otherwise affecting any representation, warranty or covenant made by the other party herein
or pursuant hereto.

 

ARTICLE
6

TERMINATION

 

6.1                                    
Termination by 37 Capital. This Agreement may be terminated by 37 Capital at which time this Agreement shall have no further
force and effect other than Section 2.1(b) hereof.

 

ARTICLE
7

DEFAULT

 

7.1Default
by 37 Capital. In the event that 37 Capital is in default of the timely payment as required pursuant to Section 2.1(b) hereof
and, if applicable, Section 2.1(c) hereof, then Colt may give written notice of such default to 37 Capital, and 37 Capital shall
have 45 business days to remedy such default. For greater certainty, Colt shall not be entitled to receive and shall not receive
Colt’s NSR Royalty if the Extra High Property is not placed into commercial production.

 

ARTICLE
8

NO
OTHER CONSIDERATION TO COLT

 

8.1Upon
37 Capital fulfilling its obligations pursuant to Sections 2.1(a) & (b) and, if applicable, Section 2.1(c) of this Agreement,
Colt shall not be entitled to receive, and shall not receive any other consideration whatsoever from 37 Capital and furthermore,
Colt shall not have any other right, interest and title in and to the Extra High Property.

 

ARTICLE
9

FORCE
MAJEURE

 

9.1       Force
Majeure. If 37 Capital is prevented from or delayed in complying with any provisions of this Agreement by reason of strikes,
lockouts, labour shortages, power shortages, floods, fires, wars, acts of God, governmental regulations restricting normal operations
or any other reason or reasons beyond the reasonable control of 37 Capital, the time set out for the performance of the various
provisions of this Agreement as set out above shall be extended by a period of time equal in length to the period of such prevention
and delay. 37 Capital, insofar as is possible, shall promptly give written notice to Colt of the particulars of the reasons for
any prevention or delay under this section and shall take all reasonable steps to remove the cause of such prevention or delay
as soon as reasonably practicable, and shall give notice to Colt as soon as such cause ceases to subsist.

 

 

ARTICLE
10 INDEMNITIES

 

10.1     
Each party hereto shall and does hereby indemnify and save harmless the other, as well as its directors, officers, employees,
agents and representatives from and against any and all claims, suits, actions, proceedings, demands, liabilities, losses, damages,
costs, expenses, fees, fines, penalties, interests and deficiencies of any nature or kind whatsoever (collectively, the “Claims”)
arising by virtue of or in respect of any inaccuracy, misstatement, misrepresentation, act or omission made by such party in connection
with any matter set out herein.

 

10.2                                
Notwithstanding any other provision of this Agreement, the indemnities provided herein shall remain in full force and effect until
all possible liabilities of the persons indemnified thereby are extinguished by the operation of law and will not be limited to
or affected by any other indemnity obtained by such indemnified persons from any other person.

 

10.3                                
No investigation made by or on behalf of either of the Parties hereto at any time shall have the effect of waiving, diminishing
the scope of or otherwise affecting any representation, warranty or covenant made by the other party herein or pursuant hereto.
No waiver by either of the Parties hereto of any provision herein, in whole or in part, shall operate as a waiver of any other
provision herein.

 

ARTICLE
11

RELATIONSHIP
OF THE PARTIES

 

11.1
Nothing contained in this Agreement shall be deemed to constitute either party the partner of the other, nor, the agent
or legal representative of the other, nor create any fiduciary relationship between them. It is not the intention of the Parties
to create, nor shall this Agreement be construed to create, any mining, commercial, or other partnership. Neither party shall
have any authority to act for or to assume any obligation or responsibility on behalf of the other party.

 

11.2There
are no implied covenants contained in this Agreement other than those of good faith and fair dealing.

 

 

ARTICLE
12 

GENERAL

 

12.1
Notices. All notices, communications and other documents required or permitted to be given hereunder shall be in writing
and shall be personally delivered or sent by prepaid registered mail or facsimile transmission (with confirmed receipt) or electronic
email to the recipient as follows:

 

(a)
in the case of 37 Capital:

 

37
CAPITAL INC.

Suite
400, 570 Granville Street Georgia Street Vancouver, B.C. V6C 3P1

Facsimile
No. (604) 681-9428

Email:
info@37capitalinc.com

 

(b)
in the case of Colt:

 

COLT
RESOURCES INC.

Suite
2209, 1111 Alberni Street, Vancouver, BC V6E 4V2

Facsimile
No. (604) 488-0868

Email:
john.gravelle@rogers.com

 

and
shall be deemed to be validly given and received (i) if personally delivered or sent by facsimile transmission (with confirmed
receipt) or by electronic mail, on the date of delivery or transmission if delivered or transmitted during normal business hours
and on the next business day following the date of delivery or transmission if delivered or transmitted after normal business
hours; and (ii) if sent by prepaid registered mail, on the date which is five (5) business days after the date of mailing excluding
all days in which postal service is disrupted. Either party may from time to time change its address by written notice to the
other in accordance with this Section.

 

12.2                              
Entire agreement. This Agreement sets forth the entire agreement between the Parties with respect to the subject matter
hereof and supersedes all prior communications, understandings and agreements between the Parties with respect to the subject
matter hereof. The Parties shall execute and deliver any and all such instruments and other documents and perform any and all
such acts and other things as may be necessary or desirable to carry out the intent of this Agreement.

 

12.3                              
Amendments and Waivers. Any amendments hereto or waivers in respect hereof shall only be effective if made in writing and
executed by the authorized signatories of the Parties thereto. No waiver shall constitute a waiver of any other provision or act
as a continuing waiver unless such is expressly provided for.

 

12.4                             
Invalid Provisions and Limitation. The invalidity or unenforceability of any provision hereof shall not affect or impair
the validity or enforceability of the remainder of this Agreement or any other provision hereof.

 

 12.5 Assignment and Enurement This Agreement and any rights herein or hereto may be assigned or otherwise transferred only by 37 Capital to a third party. This Agreement shall enure to the benefit of and be binding upon the Parties hereto and their respective successors and permitted assigns.

 

12.6  
Arbitration. Any dispute or conflict between the Parties concerning this Agreement which cannot be settled by them shall
be submitted firstly to a mutually agreeable mediator who will have no authority to bind the Parties and, in the event that mediation
efforts are unsuccessful, to a single arbitrator pursuant to the provisions of the Commercial Arbitration Act (British Columbia)
or, if the Parties cannot agree upon a single arbitrator, to three arbitrators, one appointed by 37 Capital, one appointed by
Colt and a third appointed by the arbitrators appointed by 37 Capital and Colt. Arbitration proceedings shall take place in Vancouver,
British Columbia, at such place that the arbitrator or arbitrators shall determine.

 

12.7                              
Governing law. This Agreement shall be governed by and construed in accordance with the laws of the Province of British
Columbia and the laws of Canada applicable therein. The Parties agree that the courts of British Columbia shall have exclusive
jurisdiction to entertain any action or other legal proceedings arising under this Agreement, and the Parties attorn to the exclusive
jurisdiction of the courts of British Columbia.

 

12.8                             
Counterparts and Delivery. This Agreement, notices and future amendments, if any, associated with it may be executed and
delivered in two or more counterparts by facsimile or by electronic mail. Each such counterpart and facsimile or electronic mail
shall be deemed to form one and the same and an originally executed instrument, bearing the date set forth on the face page hereof
notwithstanding the date of execution or delivery.

 

12.9
Time. Time shall be of the essence hereof.

 

 

IN
WITNESS WHEREOF the Parties have executed this Agreement as of the day and year first above

written.

 

 

 

 

37
CAPITAL INC.

 

Per:
/s/ Jake H. Kalpakian

Authorized
Signatory

 

 

COLT
RESOURCES INC.

 

 

Per:
/s/ John Gravelle

Authorized
Signatory

    	 	1	 

     

    

 

 Schedule
“A"

List
of Mineral Claims Comprising the Extra High Property

 

	TENURE
    NUMBER	NAME
    OF CLAIM	Property
    Size (in hectares)	CONVERSION
    DATE OR DATE STAKED	BC
    MAP #	EXPIRY
    DATE
	509949	Extra
    High	60.829	2005/MAR/31	082M	2019/DEC/25
	509961	Extra
    High	121.664	2005/MAR/31	082M	2019/DEC/25
	509969	Extra
    High	344.834	2005/MAR/31	082M	2019/DEC/25
	510214	Extra
    High	40.557	2005/APR/05	082M	2019/DEC/25
	510215	Extra
    High	81.124	2005/APR/05	082M	2019/DEC/25
	Total:	 	650	 	 	 

 

    	 	2	 

     

    

 

ADDENDUM
TO THE

PROPERTY
PURCHASE AGREEMENT

 

THIS
ADDENDUM TO THE PROPERTY PURCHASE AGREEMENT dated October 31, 2019 is made effective as of November 4, 2019 (this “Addendum”).

 

BETWEEN:

 

37
CAPITAL INC. of Suite 400, 570 Granville Street, Vancouver, BC, V6C 3P1

 

(hereinafter
referred to as "37 Capital")

OF
THE FIRST PART

 

AND:

 

COLT
RESOURCES INC. of Suite 2209, 1111 Alberni Street, Vancouver, BC V6E 4V2

 

(hereinafter
referred to as "Colt")

OF
THE SECOND PART

 

37
Capital and Colt shall hereinafter collectively be referred to as the “Parties”.

 

WHEREAS:

 

		A.	The
                                         Parties entered into and executed the Property Purchase Agreement effective as of October
                                         31, 2019 (the Property Purchase Agreement”) which is more particularly described
                                         in Exhibit “A” attached hereto;

 

		and,	

 

		B.	The
                                         Parties wish to extend the completion date of the purchase and sale contemplated in the
                                         Property Purchase Agreement.

 

NOW
THEREFORE, this Addendum witnesses that in consideration of the mutual premises and covenants herein contained and other good
and valuable consideration, the receipt and sufficiency of which is acknowledged by each party hereto, the Parties hereto agree
as follows:

 

		1.	In
                                         respect to Article 4.1 (Closing), the Parties agree that the completion of the purchase
                                         and sale contemplated in the Property Purchase Agreement shall take place at the office
                                         of 37 Capital on Monday, November 25, 2019.

 

and,

 

		2.	All
                                         other terms and conditions of the Property Purchase Agreement shall remain unchanged
                                         and shall be in full force and effect.

 

 

IN
WITNESS WHEREOF the Parties have executed this Addendum as of the day and year first above written.

 

 

 

37
CAPITAL INC.

 

Per:
/s/ Jake H. Kalpakian

Authorized
Signatory

 

 

 

COLT
RESOURCES INC.

 

 

Per:
/s/ John Gravelle

Authorized
Signatory

    	 	3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00310-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00310-of-00352.parquet"}]]