Document:

Exhibit
      10.13

    
REGISTRATION
      RIGHTS AGREEMENT

     

    THIS
      REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made as of the _____ day of
      __________, 2006, by and among Key Gold Corporation, a Nevada corporation (the
      “Company”), and the individuals and entities who have executed this Agreement
      and are identified on the signature page hereto (each, a “Holder,” and
      collectively, the “Holders”).

     

    Recitals

     

    WHEREAS,
      in connection with the issuance of an aggregate of __________ shares of the
      Company’s Common Stock to the Holders (the “Shares”) pursuant to Subscription
      Agreements dated as of the date hereof by and between the Company and each
      of
      the Holders and the related issuance to the Holders of warrants to purchase
      shares up to an aggregate of __________ shares of the Company’s Common Stock
      (the “Warrants”), the Holders have requested, and the Company has agreed to
      grant, registration rights in respect of the Shares and the shares of the
      Company’s Common Stock underlying the Warrants (the “Warrant Shares”), as more
      specifically set forth herein below.

     

    NOW,
      THEREFORE, the parties agree as follows:

     

    Agreement

     

    1. Registration
      Rights.
      The
      Company covenants and agrees as follows:

     

    1.1 Definitions.
      For
      purposes of this Section 1:

     

    (a) The
      term
“1933 Act” means the Securities Act of 1933, as amended, and the rules and
      regulations promulgated thereunder.

     

    (b) The
      term
“Common Stock” means the common stock, par value $0.001, of the
      Company.

     

    (c) The
      term
“1934 Act” means the Securities Exchange Act of 1934, as amended, and the rules
      and regulations promulgated thereunder.

     

    (d) The
      term
“Effective Deadline” has the meaning set forth in Section 1.3
      herein.

    

    (e) The
      terms
“register,” “registered,” and “registration” refer to a registration effected by
      preparing and filing a registration statement or similar document in compliance
      with the 1933 Act, and the declaration or ordering of effectiveness of such
      registration statement or document.

     

    (f) The
      term
“Registrable Securities” means (i) the Shares and the Warrant Shares (each
      subject to appropriate adjustment for stock splits, stock dividends,
      combinations and other recapitalizations after the date hereof (collectively,
      a
“Recapitalization”)) and (ii) any Common Stock issued as a dividend or other
      distribution with respect to, or in exchange for, or in replacement of the
      shares referenced in (i) above, excluding in all cases, however, any Registrable
      Securities that have been sold by a person privately, pursuant to the provisions
      of Rule 144, or pursuant to a registration statement under the 1933 Act covering
      such Registrable Securities that has been declared effective by the
      SEC.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (g) The
      number of shares of “Registrable Securities then outstanding” shall be
      determined by the number of shares of Common Stock outstanding that are
      Registrable Securities.

     

    (h) The
      term
“SEC” means the Securities and Exchange Commission or any successor
      thereto.

     

    1.2 Information
      Under 1934 Act. With
      a
      view to making available to the Holders the benefits of Rule 144 promulgated
      under the 1933 Act and any other rule or regulation of the SEC that may at
      any
      time permit the Holders to sell the Registrable Securities without registration,
      the Company agrees, for so long as the Holders own any Registrable Securities
      not transferable pursuant to paragraph (k) of Rule 144, to:

     

    (a) Make
      and
      keep public information available, as those terms are understood and defined
      in
      SEC Rule 144;

     

    (b) File
      with
      the SEC in a timely manner all reports and other documents required of the
      Company under the 1934 Act or deliver to the Company’s market-makers all current
      information required of the Company under Section 15c2-11 of the 1934 Act and
      to
      make all financial statements of the Company available to its stockholders;
      and

     

    (c) Furnish
      to the Holders upon request (i) a written statement by the Company that it
      has
      complied with the reporting requirements of SEC Rule 144 and the 1934 Act,
      and
      (ii) such other information as may be reasonably requested in availing the
      Holders of any rule or regulation of the SEC which permits the selling of any
      such securities without registration or pursuant to such form.

     

    1.3 Mandatory
      Registration. The
      Company shall use its commercially reasonable efforts to file with the SEC
      a
      registration statement on Form SB-2 (or, if Form SB-2 is not then available
      to
      the Company, on such form of registration statement as is then available to
      effect a registration for resale of the Registrable Securities) (the
“Registration Statement”), registering all of the Registrable Securities for
      resale no later than two weeks after the filing of the Company’s 10-KSB for the
      current fiscal year and to diligently prosecute the Registration Statement
      to
      cause it to be declared effective by the SEC as soon as practicable
      thereafter.

     

    1.4 Obligations
      of the Company. Whenever
      required under this Section 1 to effect the registration of any Registrable
      Securities, the Company, at its expense, shall, as expeditiously as reasonably
      possible:

     

    (a) Prepare
      and file with the SEC a registration statement with respect to such Registrable
      Securities and use its reasonable best efforts to cause such registration
      statement to become effective and, subject to the proviso in this Section
      1.4(a), keep such registration statement effective for a period of up to ninety
      (90) days or until the distribution contemplated in the Registration Statement
      has been completed; provided,
      however,
      that
      applicable rules under the 1933 Act governing the obligation to file a
      post-effective amendment permit, in lieu of filing a post-effective amendment
      that (i) includes any prospectus required by Section 10(a)(3) of the 1933 Act,
      or (ii) reflects facts or events representing a material or fundamental change
      in the information set forth in the registration statement, the incorporation
      by
      reference of information required to be included in (i) and (ii) above to be
      contained in periodic reports filed pursuant to Section 13 or 15(d) of the
      1934
      Act in the registration statement.

     

    
      
        
        

      

      
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    (b) Prepare
      and file with the SEC such amendments and supplements to such registration
      statement and the prospectus provided by Company in connection with such
      registration statement as may be necessary to comply with the provisions of
      the
      1933 Act with respect to the disposition of all securities covered by such
      registration statement.

     

    (c) Furnish
      to the Holders such numbers of copies of a prospectus in conformity with the
      requirements of the 1933 Act, and such other documents as the Holders may
      reasonably request from time to time in order to facilitate the disposition
      of
      Registrable Securities owned by it.

     

    (d) Use
      its
      best efforts to register and qualify the securities covered by such registration
      statement under such other securities or Blue Sky laws of such jurisdictions
      as
      shall be reasonably requested by the Holders; provided that the Company shall
      not be required in connection therewith or as a condition thereto to qualify
      to
      do business or to file a general consent to service of process in any such
      states or jurisdictions, unless the Company is already required to qualify
      to do
      business or subject to service in such jurisdiction and except as may be
      required by the 1933 Act.

     

    (e) In
      the
      event of any underwritten public offering, enter into and perform its
      obligations under an underwriting agreement, in usual and customary form, with
      the managing underwriter of such offering. If a Holder makes such request
      referenced in Section 1.4 above to have his Registrable Securities included
      in
      such registration and underwriting, the Holder shall also enter into and perform
      his obligations under such an underwriting agreement.

     

    (f) Notify
      each Holder of Registrable Securities covered by such registration statement
      at
      any time when a prospectus relating thereto is required to be delivered under
      the 1933 Act of the happening of any event as a result of which the prospectus
      included in such registration statement, as then in effect, includes an untrue
      statement of a material fact or omits to state a material fact required to
      be
      stated therein or necessary to make the statements therein not misleading in
      the
      light of the circumstances then existing, and, at
      the
      request of a Holder, prepare and furnish to such Holder a reasonable number
      of
      supplements to, or amendment of, such prospectus as may be necessary so that,
      as
      thereafter delivered to the purchasers of such share, such prospectus shall
      not
      include an untrue statement of a material fact or omit to state a material
      fact
      required to be stated therein or necessary to make the statements therein not
      misleading or incomplete in light of the circumstances then existing.

     

    (g) Use
      its
      reasonable best efforts to cause all such Registrable Securities registered
      pursuant hereunder to be listed on each securities exchange on which similar
      securities issued by the Company are then listed.

     

    (h) Provide
      a
      transfer agent and registrar for all Registrable Securities registered pursuant
      hereunder and a CUSIP number for all such Registrable Securities, in each case
      not later than the effective date of such registration.

     

    (i) Make
      available for inspection by any underwriter participating in any disposition
      pursuant to such registration, and any attorney or accountant retained by the
      underwriter, all financial and other records, pertinent corporate documents
      and
      properties of the Company, and cause the Company’s officers and directors to
      supply all information reasonably requested by the underwriter, attorney or
      accountant in connection with such registration statement; provided,
      however,
      that
      the underwriter, attorney, or accountant shall agree to hold in confidence
      and
      trust all information so provided.

     

    
      
        
        

      

      
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    (j) Make
      available to each Holder participating in such registration, upon the request
      of
      such Holder:

     

    (i) in
      the
      case of an underwritten public offering, a copy of any opinion of counsel for
      the Company provided to the underwriters participating in such offering, dated
      the date such shares are delivered to such underwriters for sale in connection
      with the registration statement;

     

    (ii) in
      the
      case of an underwritten public offering, a copy of any “comfort” letters
      provided to the underwriters participating in such offering and signed by the
      Company’s independent public accountants who have examined and reported on the
      Company’s financial statements included in the registration statement, to the
      extent permitted by the standards of the AICPA or other relevant authorities;
      and

     

    (iii)  a
      copy of
      all documents filed with and all correspondence from or to the SEC in connection
      with any such offering other than non-substantive cover letters and the
      like.

     

    (k) otherwise
      use its reasonable best efforts to comply with all applicable rules and
      regulations of the SEC, and timely make available to its security holders an
      earnings statement covering the period of at least 12 months, but not more
      than
      18 months, beginning with the first month after the effective date of the
      registration statement, which earnings statement shall satisfy the provisions
      of
      Section 11(a) of the 1933 Act.

     

    1.5 Furnish
      Information.
      It shall
      be a condition precedent to the obligations of the Company to take any action
      pursuant to this Section 1 with respect to Registrable Securities of any selling
      Holder that such Holder shall furnish to the Company such information regarding
      itself, its affiliates, the Registrable Securities held by it, and the intended
      method of disposition of such securities as shall be required to effect the
      registration of such Holder’s Registrable Securities.

     

    1.6 Expenses
      of Company Registration. The
      Company shall bear and pay all expenses incurred by it in connection with any
      registration, filing, or qualification of Registrable Securities with respect
      to
      the registrations pursuant to Section 1.3 for the Holders and compliance with
      the terms hereof, including (without limitation) all registration, filing,
      and
      qualification fees, printers and accounting fees relating or apportionable
      thereto, and the fees and disbursements of counsel for the Company, but
      excluding underwriting discounts and commissions relating to Registrable
      Securities.

     

    1.7 Reductions
      of Registrable Securities to be Included.
      In
      connection with any offering involving an underwriting of shares of the
      Company’s capital stock, the Company shall not be required under Section 1.3 to
      include a Holder’s securities in such underwriting unless such Holder accepts
      the terms of the underwriting as agreed upon between the Company and the
      underwriters selected by the Company and then only in such quantity as the
      underwriters determine in their sole discretion will not jeopardize the success
      of the offering by the Company. If the total amount of securities, including
      Registrable Securities, requested by stockholders to be included in such
      offering exceeds the amount of securities sold other than by the Company that
      the underwriters determine in their sole discretion is compatible with the
      success of the offering, then the Company shall be required to include in the
      offering only that number of such securities, including Registrable Securities,
      which the underwriters determine in their sole discretion will not jeopardize
      the success of the offering (the securities so included to be apportioned pro
      rata among the selling stockholders according to the total amount of securities
      entitled to be included therein owned by each selling stockholder or in such
      other proportions as shall mutually be agreed to by such selling stockholders).
      

     

    
      
        
        

      

      
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    1.8 Delay
      of Registration. The
      Holders shall not have any right to obtain or seek an injunction restraining
      or
      otherwise delaying any such registration as the result of any controversy that
      might arise with respect to the interpretation or implementation of this Section
      1.

     

    1.9 Indemnification.
      In
      the
      event any Registrable Securities are included in a registration statement under
      this Section 1:

     

    (a) To
      the
      extent permitted by law, the Company will indemnify and hold harmless the
      Holders, each officer and director of the Holders, any underwriter (as defined
      in the 1933 Act) of the Holders, and each person, if any, who controls the
      Holders or underwriter within the meaning of the 1933 Act or the 1934 Act,
      against any losses, claims, damages, or liabilities (joint or several) to which
      they may become subject under the 1933 Act, the 1934 Act, or other federal
      or
      state law, insofar as such losses, claims, damages, or liabilities (or actions
      in respect thereof) arise out of or are based upon any of the following
      statements, omissions, or violations (collectively, a “Violation”): (i) any
      untrue statement or alleged untrue statement of a material fact contained in
      such registration statement, including any preliminary prospectus or final
      prospectus contained therein or any amendments or supplements thereto; (ii)
      the
      omission or alleged omission to state therein a material fact required to be
      stated therein, or necessary to make the statements therein not misleading;
      or
      (iii) any violation or alleged violation by the Company of the 1933 Act, the
      1934 Act, any state securities law, or any rule or regulation promulgated under
      the 1933 Act, the 1934 Act, or any state securities law; and the Company will
      pay to the Holders, underwriter, or controlling person any legal or other
      expenses reasonably incurred by them in connection with investigating or
      defending any such loss, claim, damage, liability, or action; provided,
      however,
      that
      the indemnity agreement contained in this Section 1.9(a) shall not apply to
      (1)
      a Holder if he is either an officer or director of the Company at the time
      of
      the statement, omission, or violation (a “Management Holder”), unless such
      Management Holder has sold shares included in the registration statement, (2)
      amounts paid in settlement of any such loss, claim, damage, liability, or action
      if such settlement is effected without the consent of the Company (which consent
      shall not be unreasonably withheld), or (3) any such loss, claim, damage,
      liability, or action to the extent that it arises out of or is based upon a
      Violation which occurs in reliance upon and in conformity with written
      information furnished expressly for use in connection with such registration
      by
      a Holder (including each officer and director of such Holder), underwriter,
      or
      controlling person.

     

    (b) To
      the
      extent permitted by law, the selling Holders will indemnify and hold harmless
      the Company, each of its directors, each of its officers who has signed the
      registration statement, each person, if any, who controls the Company within
      the
      meaning of the 1933 Act, any underwriter, and any controlling person of any
      such
      underwriter, against any losses, claims, damages, or liabilities (joint or
      several) to which any of the foregoing persons may become subject, under the
      1933 Act, the 1934 Act, or other federal or state law, insofar as such losses,
      claims, damages, or liabilities (or actions in respect thereto) arise out of
      or
      are based upon any Violation, in each case to the extent (and only to the
      extent) that such Violation occurs in reliance upon and in conformity with
      written information furnished by the Holder, or by an officer or director of
      the
      Holders expressly for use in connection with such registration; and the Holders
      will pay any legal or other expenses reasonably incurred by any person intended
      to be indemnified pursuant to this Section 1.9(b) in connection with
      investigating or defending any such loss, claim, damage, liability, or action;
      provided,
      however,
      that
      the indemnity agreement contained in this Section 1.9(b) shall not apply to
      amounts paid in settlement of any such loss, claim, damage, liability, or action
      if such settlement is effected without the consent of the Holder, which consent
      shall not be unreasonably withheld; provided,
      further,
      that in
      no event shall any indemnity under this Section 1.9(b) exceed the gross proceeds
      from the offering received by the Holders net of underwriters’ commissions and
      discounts.

     

    
      
        
        

      

      
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    (c) Promptly
      after obtaining actual knowledge of any third party claim or action as to which
      it may seek indemnification under this Section 1.9, an indemnified party will,
      if a claim in respect thereof is to be made against any indemnifying party
      under
      this Section 1.9, deliver to the indemnifying party a written notice thereof
      and
      the indemnifying party shall have the right to participate in, and, to the
      extent the indemnifying party so desires, jointly with any other indemnifying
      party similarly noticed, to assume the defense thereof with counsel mutually
      satisfactory to the parties; provided,
      however,
      that an
      indemnified party (together with all other indemnified parties which may be
      represented without conflict by one counsel) shall have the right to retain
      one
      separate counsel, with the fees and expenses to be paid by the indemnifying
      party, if representation of such indemnified party by the counsel retained
      by
      the indemnifying party would be inappropriate due to actual or potential
      differing interests between such indemnified party and any other party
      represented by such counsel in such proceeding. The failure to deliver written
      notice to the indemnifying party within a reasonable time of the commencement
      of
      any such action shall relieve such indemnifying party of any liability to the
      indemnified party under this Section 1.9, if, and to the extent that, such
      failure is prejudicial to such indemnifying party’s ability to defend such
      action, but the omission so to deliver written notice to the indemnifying party
      will not relieve it of any liability that it may have to any indemnified party
      otherwise than under this Section 1.9.

     

    (d) If
      the
      indemnification provided for in this Section 1.9 is held by a court of competent
      jurisdiction to be unavailable to an indemnified party with respect to any
      loss,
      liability, claim, damage, or expense referred to therein, then the indemnifying
      party, in lieu of indemnifying such indemnified party hereunder, shall
      contribute to the amount paid or payable by such indemnified party as a result
      of such loss, liability, claim, damage, or expense (including, without
      limitation, legal and other expenses incurred by such indemnified party in
      investigating or defending any such action or claim) in such proportion as
      is
      appropriate to reflect the relative fault of the indemnifying party on the
      one
      hand and of the indemnified party on the other in connection with the statements
      or omissions that resulted in such loss, liability, claim, damage, or expense
      as
      well as any other relevant equitable considerations. The relative fault of
      the
      indemnifying party and of the indemnified party shall be determined by reference
      to, among other things, whether the untrue or alleged untrue statement of a
      material fact or the omission to state a material fact relates to information
      supplied by the indemnifying party or by the indemnified party and the parties’
relative intent, knowledge, access to information, and opportunity to correct
      or
      prevent such statement or omission. Notwithstanding the provisions of this
      Section 1.9, the Holders shall not be required to contribute any amount or
      make
      any other payments under this Agreement, which in the aggregate exceed the
      net
      proceeds received by the Holders from the offering covered by the applicable
      registration statement.

     

    (e) Notwithstanding
      the foregoing, to the extent that the provisions on indemnification and
      contribution contained in the underwriting agreement entered into in connection
      with the underwritten public offering are in conflict with the foregoing
      provisions, the provisions in the underwriting agreement shall
      control.

     

    (f) The
      obligations of the Company and Holders under this Section 1.9 shall survive
      the
      completion of any offering of Registrable Securities in a registration statement
      under this Section 1, and otherwise.

     

    1.11 Transfer
      of Registration Rights. The
      rights to cause the Company to register Registrable Securities pursuant to
      this
      Section 1 may be transferred only to any person or entity that is a relative
      or
      an affiliate of the transferring Holder in connection with a permitted transfer
      of the Registrable Securities exempt from registration under the 1933
      Act.

     

    
      
        
        

      

      
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    1.12 “Market
      Stand-Off”
      Agreement. Each
      Holder hereby agrees that, during the period of duration specified by the
      Company and an underwriter of common stock or other securities of the Company,
      following the effective date of a registration statement of the Company filed
      under the 1933 Act, it shall not, to the extent requested by the Company and
      such underwriter, directly or indirectly sell, offer to sell, contract to sell
      (including, without limitation, any short sale), grant any option to purchase,
      or otherwise transfer or dispose of (other than to donees who agree to be
      similarly bound) any securities of the Company held by him or her any time
      during such period except common stock included in such registration;
provided,
      however,
      that:

     

    (a) Such
      agreement shall be applicable only to the first two such registration statements
      of the Company which covers common stock (or other securities) to be sold on
      its
      behalf to the public in an underwritten offering;

     

    (b) Such
      market stand-off time period shall not exceed 180 days;
      and

     

    (c) All
      officers and directors of the Company and holders of record of not less than
      three percent of the Company’s common stock enter into similar
      agreements.

     

    In
      order
      to enforce the foregoing covenant, the Company may impose stop-transfer
      instructions with respect to the Registrable Securities of each Holder (and
      the
      shares or securities of every other person subject to the foregoing restriction)
      until the end of such period.

     

    Notwithstanding
      the foregoing, the obligations described in this Section 1.12 shall not apply
      to
      a registration relating solely to employee benefit plans on Form S-1 or Form
      S-8
      or similar forms which may be promulgated in the future, or a registration
      relating solely to a Commission Rule 145 transaction on Form S-4 or similar
      forms which may be promulgated in the future. 

     

    2. Miscellaneous.

     

    2.1 Successors
      and Assigns. Except
      as
      otherwise provided herein, the terms and conditions of this Agreement shall
      inure to the benefit of and be binding upon the respective successors and
      assigns of the parties (including transferees of any shares of Registrable
      Securities). Nothing in this Agreement, express or implied, is intended to
      confer upon any party other than the parties hereto or their respective
      successors and assigns any rights, remedies, obligations, or liabilities under
      or by reason of this Agreement, except as expressly provided in this
      Agreement.

     

    2.2 Governing
      Law. This
      Agreement shall be governed by and construed under the laws of the State of
      Nevada as applied to agreements among Nevada residents entered into and to
      be
      performed entirely within Nevada.

     

    2.3 Counterparts.
      This
      Agreement may be executed in two or more counterparts, each of which shall
      be
      deemed an original, but all of which together shall constitute one and the
      same
      instrument.

     

    2.4 Titles
      and Subtitles.
      The
      titles and subtitles used in this Agreement are used for convenience only and
      are not to be considered in construing or interpreting this
      Agreement.

     

    2.5 Notices. Any
      notice required or permitted under this Agreement shall be given in writing
      and
      shall be deemed effectively given upon personal delivery to the party to be
      notified or by telex or confirmed facsimile, or one delivery day after deposit
      with a recognized overnight express delivery service or courier (for FedEx
      Express Overnight or equivalent delivery to and from an address within the
      United States of America) or three delivery days after deposit with a recognized
      overnight express delivery service or courier (for FedEx Express International
      Priority or equivalent delivery to and from an address outside the United States
      of America), and addressed to the party to be notified at the address indicated
      for such party below, or at such other address as such party may designate
      by
      ten days’ advance written notice to the other party:

     

    
      
        
        

      

      
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              (a)

            	
              If
                to the Company:

            
	 	 
	 	
              Key
                Gold Corporation

            
	 	
              Attention:
                President

            
	 	
              1942
                Broadway, Suite 504

            
	 	
              Boulder,
                Colorado 80302

            
	 	
              Fax
                number:
                (303) 323-1928

            
	 	 
	 	
              with
                a copy to:

            
	 	
              (which
                shall not constitute notice) 

            
	 	 
	 	
              Bryan
                Cave LLP

            
	 	
              Attention:
                Randolf W. Katz

            
	 	
              1900
                Main Street, Suite 700

            
	 	
              Irvine,
                California 92614-7328

            
	 	
              Fax
                number: (949) 223-7100

            
	 	 
	
              (b)

            	
              If
                to a Holder: 

            
	 	 
	 	 
	 	
              See
                signature page to this Agreement

            
	 	
              with
                a copy to:

            
	 	
              (which
                shall not constitute notice)

            
	 	 
	 	______________________
	 	
              Attention:_________________

            
	 	______________________
	 	______________________
	 	
              Fax
                number:________________

            

    

     

    or
      to
      such other person or address as any party shall specify by notice in writing
      to
      each of the other parties. All such notices, requests, demands, waivers, and
      communications shall be deemed to have been received on the date of delivery
      if
      the date of transmission is electronically endorsed automatically on the media
      or evidenced by courier service documentation. If notice is mailed or
      transmitted in a manner in which date of delivery cannot be ascertained from
      the
      media used or courier service records, notice shall be deemed given on the
      fifth
      business day after the mailing or other transmission or delivery thereof. A
      notice of a change of address shall be effective only upon receipt.

     

    2.6 Expenses.
      If any
      action at law or in equity is necessary to enforce or interpret the terms of
      this Agreement, the prevailing party shall be entitled to reasonable attorneys’
fees, costs, and necessary disbursements in addition to any other relief to
      which such party may be entitled.

     

    2.7 Amendments
      and Waivers.
      Any term
      of this Agreement may be amended and the observance of any term of this
      Agreement may be waived (either generally or in a particular instance and either
      retroactively or prospectively), only with the written consent of the Company
      and the holders representing a majority of the Registrable Securities then
      outstanding. Any amendment or waiver effected in accordance with this Section
      2.7 shall be binding upon each holder of any Registrable Securities then
      outstanding, each future holder of all such Registrable Securities, and the
      Company; provided that, without the consent of the Company and holders
      representing a majority of the Registrable Securities then outstanding, no
      amendment to this Agreement may be made that (i) modifies this Section 2.7,
      or
      (ii) would affect the holders of the Registrable Securities in a
      disproportionate manner (other than any disproportionate results that are due
      to
      a difference in the relative stock ownership in the Company).

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    2.8 Severability.
      If one
      or more provisions of this Agreement are held to be unenforceable under
      applicable law, such provision shall be excluded from this Agreement and the
      balance of the Agreement shall be interpreted as if such provision were so
      excluded and shall be enforceable in accordance with its terms.

     

    2.9 Aggregation
      of Stock.
      All
      shares of Registrable Securities held or acquired by affiliated entities or
      persons shall be aggregated together for the purpose of determining the
      availability of any rights under this Agreement.

     

    2.10 Entire
      Agreement.
      This
      Agreement constitutes the full and entire understanding and agreement between
      the parties regarding the matters set forth herein. Except as otherwise
      expressly provided herein, the provisions hereof shall inure to the benefit
      of,
      and be binding upon the successors, assigns, heirs, executors, and
      administrators of the parties hereto.

     

    2.11 Further
      Assurances.
      At any
      time, and from time to time, each party will execute such additional instruments
      and take such action as may be reasonably requested by any other party to carry
      out the intent and purposes of this Agreement. 

     

    2.12 Arbitration.
      Any
      dispute, controversy, or claim arising out of or relating to this Agreement
      or
      the Registrable Securities will be resolved by binding arbitration before a
      retired judge at JAMS in Clark County, Nevada. Any interim or final arbitration
      award by be enforced by any court of competent jurisdiction.

     

    [BALANCE
      OF PAGE INTENTIONALLY LEFT BLANK.]

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

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

     

    KEY
      GOLD CORPORATION

     

    By:_______________________________     

    Name:_____________________________      

    Title:______________________________    

    

    

    HOLDERS:

     

    
      	 	 	 
	
              [name]

            	 	
               [street]

            
	 	 	 
	 	 	 
	 	 	
              [city,
                state, postal code, country]

            
	 	 	 
	 	 	 
	 	 	
              [facsimile
                number]

            
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	[name] 	 	
              [street]

            
	 	 	 
	 	 	 
	 	 	
              [city,
                state, postal code, country]

            
	 	 	 
	 	 	 
	 	 	
              [facsimile
                number]

            

    

     

    
      
        
        

      

      
        10PURCHASE
      AND SALE AGREEMENT

    

    This
      Purchase and Sale Agreement (this “Agreement”) is made and entered into as of
      December 5, 2006, by and among Simona Hirsch and Dr. Jacob Hiller (Mrs. Hirsch
      and Dr. Jacob, together are referred herein as the “Sellers”) and Marcus
      Segal (
      the
“Buyer”).

    

    WHEREAS,
      the Sellers own in the aggregate seven million six hundred thousand (7,600,000)
      shares (the “Shares”) of common stock of Terrapin Enterprises, Inc., a Nevada
      corporation (the “Company”) representing 73.8% of the issued and outstanding
      share capital of the Company; there being a total of ten million two hundred
      ninety thousand (10,290,000) shares issued and outstanding.

    

    WHEREAS,
      The Sellers wish to sell to the Buyer, and the Buyer wishes to purchase from
      the
      Sellers, the Shares for such consideration and on such terms as set out
      below;

    

    NOW
      THEREFORE, in consideration of the above premises and the mutual
      representations, warranties, covenants and agreements hereinafter set forth
      and
      for other good and valuable consideration, the receipt and sufficiency of which
      is hereby acknowledged, the parties agree as follows:

    

    1.    Purchase
      and Sale; Purchase Price; Closing.
      

    

    (a) Purchase
      and Sale.
      Upon
      the terms and subject to the conditions of this Agreement, at the Closing
      (hereafter defined), the Sellers shall sell, transfer and assign to the Buyer,
      and the Buyer shall purchase from the Sellers, the Shares and any and all rights
      in the Shares to which the Sellers are entitled, and by doing so the Sellers
      shall be deemed to have assigned all of the Sellers’ right, title and interest
      in and to the Shares to the Buyer. Such sale of the Shares shall be evidenced
      by
      stock certificates, duly endorsed in blank or accompanied by stock powers duly
      executed in blank, or other instruments of transfer in form and substance
      reasonably satisfactory to the Buyer.

    

    (b)
       Purchase
      Price.
      The
      aggregate purchase price for the purchase of the Shares shall be fifty thousand
      ($50,000) dollars (the “Purchase Price”), payable by wire transfer of
      immediately available funds.

    

    (c)
       Closing.
      

    

    (1)
       The
      Closing of the transactions contemplated under this Agreement (the "Closing")
      shall take place simultaneously with the execution and delivery of this
      Agreement. The closing will take place in the City of New York or at such other
      place mutually agreed upon. 

    

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    (2)
       At
      the
      Closing: 

    

    (a)
      The
      Buyer shall pay to the Sellers the Purchase Price by wire transfer of
      immediately available funds pursuant to wire instructions previously delivered;
      and 

    

    (b)
      The
      Sellers shall deliver or cause to be delivered to the Buyer (i) the stock
      certificates evidencing the Shares owned by them duly endorsed in blank or
      accompanied by stock powers duly executed in blank, in proper form for transfer;
      (ii) a list from the transfer agent of the Company; (iii) the resignations
      of
      Simona Hirsch and Jacob Hiller from their positions as officers and
      employees of the Company, effective at the Closing; (iv) the resignations of
      Simona Hirsch, as a director of the Company, effective ten days after the
      Company files with the SEC a Schedule 14f-1; and (v) any other documents
      requested by the Buyer to consummate the transactions contemplated by this
      Agreement. The Buyer acknowledges that subsequent to the Closing, it is his
      responsibility to file a Form 3 pursuant to requirements of Section 16(a) of
      the
      Exchange Act; and a Schedule 13 D in accordance with the requirements of Section
      240.13d-1of
      the
      Exchange Act.

    

    2.    Representations
      of Sellers.

    

    Each
      Seller, jointly and severally, and the Company hereby represents and warrants
      to
      the Buyer the following: 

    

    (a)
       Authority.
      The
      Sellers have the absolute and unrestricted right, power, legal capacity and
      authority to enter into and perform their obligations under this Agreement,
      to
      carry out their obligations hereunder and to consummate the transactions
      contemplated hereby. Assuming the due authorization, execution and delivery
      by
      the Buyer, this Agreement, when executed and delivered by the Buyer, will be
      a
      valid and binding obligation of the Sellers, enforceable against the Sellers
      in
      accordance with its terms. Neither the execution and delivery of this Agreement,
      nor the consummation of the transactions contemplated hereby, will conflict
      with, or (with or without notice or lapse of time, or both) result in a
      termination, breach or violation of (i) any instrument, contract or agreement
      to
      which the Sellers are parties or by which they are bound, or (ii) any federal,
      state, local or foreign law, ordinance, judgment, decree, order, statute, or
      regulation, or that of any other governmental body or authority, applicable
      to
      the Company or either Sellers or his or her respective assets or properties.
      

     

    (b) Capitalization.
      The
      Company’s authorized capital stock consists of 100,000,000 shares of common
      stock, of which 10,290,000 shares are issued and outstanding. The Sellers are
      the sole record and beneficial owners of the Shares and has good and marketable
      title to the Shares, free and clear of any liens, pledges, hypothecations,
      charges, adverse claims, options, preferential arrangements or restrictions
      of
      any kind, including, without limitation, any restriction of the use, voting,
      transfer, receipt of income or other exercise of any attributes of ownership
      (collectively, “Encumbrances”), other than Encumbrance created by applicable
      federal and state securities laws. Upon the execution and delivery of this
      Agreement and payment of the purchase price, the Buyer shall be the lawful
      record and beneficial owner of the Shares, free and clear of all Encumbrances,
      other than any Encumbrances expressly created by applicable federal and state
      securities laws. 
      There
      are no stockholders’ agreements, voting trust, proxies, options, rights of first
      refusal or any other agreements or understandings with respect to the
      Shares.  

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    (c)
       Valid
      Issuance.
      All of
      the Shares of the Company being sold by the Sellers and bought by the Buyer
      are
      duly authorized, validly issued, fully paid and non-assessable, and were not
      issued in violation of any preemptive or similar rights. There are no
      outstanding subscriptions, options, warrants, puts, calls, agreements or other
      rights of any type or other securities, including without limitation, any
      agreements or securities (1) requiring the issuance, sale, transfer, repurchase,
      redemption or other acquisition of any shares of capital stock of the Company,
      (2) restricting the transfer of any shares of capital stock of the Company,
      or
      (3) relating to the voting of any shares of capital stock of the Company. There
      are no issued or outstanding indebtedness of the Company having the right to
      vote (or convertible into, or exchangeable for, securities having the right
      to
      vote), upon the happening of a certain event or otherwise, on any matters on
      which the equity holders of the Company may vote.

     

    (d)
       SEC
      Documents.
      All
      reports and other documents filed by the Company with the SEC (the “SEC
      Documents”) complied, as of their respective dates, in all material respects
      with the requirements of the Securities Act of 1933, as amended (the “Securities
      Act”) or the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
      as the case may be, and other federal, state and local laws, rules and
      regulations applicable to such SEC Documents, and none of the SEC Documents
      contained any untrue statement of a fact or omitted to state a fact required
      to
      be stated therein or necessary in order to make the statements therein, in
      light
      of the circumstances under which they were made, not misleading. The financial
      statements of the Company included in the SEC Documents comply as to form and
      substance in all respects with applicable accounting requirements and the
      published rules and regulations of the SEC or other applicable rules and
      regulations with respect thereto. Such financial statements have been prepared
      in accordance with generally accepted accounting principles applied on a
      consistent basis during the periods involved (except as may be otherwise
      indicated in such financial statements or the notes thereto or in the case
      of
      unaudited interim statements, to the extent they may not include footnotes
      or
      may be condensed or summary statements) and fairly present in all respects
      the
      financial position of the Company as of the dates thereof and the results of
      operations and cash flows for the periods then ended (subject, in the case
      of
      unaudited statements, to normal year-end audit adjustments). The Company has
      not
      received any letters, notices or any notifications from the SEC, NASD or NASAQ
      with respect to the Company or any of its officers or directors, with exception
      of the Delinquency Notification issued by the NASD on April 21, 2006, the
      delinquency being remedied with the filing of the Form 10-KSB and the subsequent
      removal of the ‘E’ from the Company’s ticker symbol.

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    (e)
       No
      Undisclosed Liabilities.
      The
      Company has no liabilities or obligations that are not disclosed in the SEC
      Documents, and as of the Closing shall have no debts, liabilities or
      obligations, direct or indirect, contingent or otherwise, including without
      limitation, any tax obligations.

    

    (f) No
      Undisclosed Events or Circumstances.
      No
      event or circumstance has occurred or exists with respect to the Company or
      its
      businesses, properties, prospects, operations or financial condition, that,
      under applicable law, rule or regulation, requires public disclosure or
      announcement prior to the date hereof by the Company but which has not been
      so
      publicly announced or disclosed in the SEC Documents.

    

    (g) Litigation
      and Other Proceedings.
      There
      are no lawsuits or proceedings pending or threatened, against the Company or
      its
      officers or directors, nor has the Company or the Sellers received any written
      or oral notice of any such action, suit, proceeding or
      investigation.

    

    (h)
       Full
      Disclosure.
      No
      representation or warranty or other statement made by the Company of the Sellers
      in this Agreement or otherwise in connection with the transactions contemplated
      herein contains any untrue statement or omits to state a fact necessary to
      make
      any of them, in light of the circumstances in which it was made, not misleading.
      

    

    3.
       Buyer’s
      Representations.
      

    

    The
      Buyer
      hereby represents and warrants to each Seller the following:

    

    (a) Authority.
      The
      Buyer has the absolute and unrestricted right, power, legal capacity and
      authority to enter into and perform his respective obligations under this
      Agreement, to carry out his obligations hereunder and to consummate the
      transactions contemplated hereby. This Agreement has been duly executed and
      delivered by the Buyer. No filing with, authorization from or consent or
      approval of any governmental body, agency, official or authority or any other
      third party is necessary or required to be made or obtained to enable the Buyer
      to enter into, and to perform his respective obligations under, this Agreement.
      Neither the execution and delivery of this Agreement, nor the consummation
      of
      the transactions contemplated hereby, will conflict with, or (with or without
      notice or lapse of time, or both) result in a termination, breach or violation
      of (i) any instrument, contract or agreement to which the Buyer is a party
      or by
      which he is bound, or (ii) any federal, state, local or foreign law, ordinance,
      judgment, decree, order, statute, or regulation, or that of any other
      governmental body or authority, applicable to the Buyer or his assets or
      properties. 

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (b) Investment
      Purpose.
      The
      Buyer is acquiring the Shares for his own account, for investment purposes
      only
      and not with a view to the resale or distribution of any part thereof. The
      Buyer
      understands that the Shares are restricted securities and can not be offered
      for
      sale, sold, transferred or otherwise disposed of without an effective
      registration statement pursuant to the Securities Act of 1933, as amended,
      or an
      applicable exemption therefrom.

    

    (c) Accredited
      Investor.
      The
      Buyer is an “accredited investor” as that term is defined in Rule 501(a) of
      Regulation D promulgated under the Securities Act of 1933, as amended (the
      “Securities Act”), and has been provided with all materials and information
      requested by the Buyer, including any information requested to verify any
      information furnished, and the Buyer has been provided the opportunity for
      direct communication between the Sellers and their representatives and the
      Buyer
      regarding the purchase contemplated by this Agreement, including the opportunity
      to ask questions and receive answers from the Sellers or the Company.

     

    (d) Exemption
      from Registration.
      The
      Buyer understands that the Shares are being offered and sold to it in reliance
      upon specific exemptions from the registration requirements of United States
      federal and state securities laws.

     

    4.
       Indemnification.
      Each
      Seller shall indemnify and hold harmless the Buyer and his respective employees,
      trustees, agents, beneficiaries, affiliates, representatives and their
      successors and assigns from and against any and all damages, losses,
      liabilities, taxes and costs and expenses (including, without limitation,
      attorneys’ fees and costs) resulting directly or indirectly from any
      misrepresentation, breach of warranty or nonfulfillment of any covenant or
      agreement on the part of the Sellers. 

    

    5.
       Miscellaneous.

    

    (a) This
      Agreement shall be governed by and construed in accordance with the internal
      laws of the State of Nevada without regard to principles of conflicts of laws.
      

    

    (b) If
      any
      covenant or agreement contained herein, or any part hereof, is held to be
      invalid, illegal or unenforceable for any reason, such provision will be deemed
      modified to the extent necessary to be valid, legal and enforceable and to
      give
      effect of the intent of the parties hereto.

    

    (c) This
      Agreement constitutes the entire agreement between the parties with respect
      to
      the subject matter hereof. This Agreement supersedes all prior agreements
      between the parties with respect to the subject matter hereof or thereof. There
      are no representations, warranties, covenants or undertakings with respect
      to
      the subject matter hereof other than those expressly set forth herein or in
      the
      other agreements referenced herein.

    

    (d) This
      Agreement may not be amended or modified except by the express written consent
      of the parties hereto. Any waiver by the parties of a breach of any provision
      of
      this Agreement shall not operate or be construed as a waiver of any subsequent
      breach thereof or of any other provision.

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    (e) This
      Agreement shall be binding upon, inure to the benefit of, and be enforceable
      by
      the parties hereto and their respective successors and permitted assignees
      and
      heirs and legal representatives.

    

    (f) The
      parties hereto intend that this Agreement shall not benefit or create any right
      or cause of action in or on behalf of any person other than the parties
      hereto.

    

    (g) Each
      of
      the Sellers and the Buyer agrees that this Agreement shall be deemed to have
      been jointly and equally drafted by them, and that the provisions of this
      Agreement therefore shall not be construed against a party or parties on the
      ground that such party or parties drafted or was more responsible for the
      drafting of any such provision(s). The parties agree that they have each
      carefully read the terms and conditions of this Agreement, that they know and
      understand the contents and effect of this Agreement. Each of the parties
      acknowledges that David Lubin & Associates, PLLC has acted and
      continues to act as legal counsel to the Company. Each party represents that
      it
      has received advice from counsel of its own choosing regarding the transactions
      contemplated herein. Notwithstanding the foregoing, each of the parties’ waives
      any objections or rights it has or may have which would impair, hinder or
      eliminate such law firm’s right or ability to represent or counsel the
      Company or its affiliates after the date hereof.

    

    (h) The
      parties hereto agree to execute and deliver such further documents and
      instruments and to do such other acts and things any of them, as the case may
      be, may reasonably request in order to effectuate the transactions contemplated
      by this Agreement.

    

    (i) This
      Agreement may be executed in counterparts and by facsimile, each of which shall
      be deemed an original and all of which together shall constitute one and the
      same instrument.

     

    [Remainder
      of Page Intentionally Omitted; Signature Page to Follow]

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF, each of the undersigned has caused this Agreement to be
      executed by its duly authorized officer or representative as of the date first
      above written.

    
      	 	 	 
	 	
                
                SELLERS:

            
	 
 	 
 	 
 
	
            	
            	
              /s/
                Simona Hirsch

            
	 	
              

              Simona
                Hirsch

              17
                Carlton Road

              Monsey,
                New York 10952

              Number
                of Shares: 7,200,000

            

    

     

    
      	 	 	 
	
            	
            	
              
                /s/
                  Jacob Hiller

              

            
	 	
              

              
                Dr.
                  Jacob Hiller

                17
                  Carlton Road

                Monsey,
                  New York 10952

                Number
                  of Shares: 400,000

              

            

    
      	 	 	 
	 	
              
                  
                  BUYER:

              

            
	 
 	 
 	 
 
	
            	
            	
              /s/
                Marcus Segal

            
	 	
              

              
                Marcus
                  Segal

                Address:
                  2643 20th
                  Street

                San
                  Francisco, CA 94110

              

            

    

    

    
      
        
        

      

      
        7

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