Document:

Till Capital Ltd.: Exhibit 4.15 - Filed by newsfilecorp.com

ASSET PURCHASE AGREEMENT 

THIS ASSET PURCHASE AGREEMENT is made as of April 17, 2014.

BETWEEN: 

  
    
      TILL CAPITAL LTD. (FORMERLY RESOURCE HOLDINGS LTD.), a company
        incorporated under the laws of Bermuda and having its registered office at
        Crawford House, 50 Cedar Avenue, Hamilton, HMll Bermuda 

      (the "Purchaser") 

    

  

AND: 

  
    
      KUDU PARTNERS, L.P., a limited partnership formed under the
        laws of Delaware and having its registered office at 16192 Coastal Highway,
        Lewes, DE 19558 

      (the "LP") 

    

  

AND: 

  
    
      LA PLATA RIVER PARTNERS, LLC, the general partner of the LP, a
        limited liability company formed under the laws of Delaware and having its
        registered office at 16192 Coastal Highway, Lewes, DE 19558 

      (the "GP" and together with the LP, the "Vendors") 

    

  

WHEREAS: 

	A. 	
      The Purchaser and Americas Bullion Royalty Corp. ("AMB")
      have entered into an arrangement agreement dated as of February 18, 2014,
      as amended on March 25, 2014 (the "Arrangement Agreement") which provides
      for the implementation of certain transactions (the "Arrangement") where,
      among other things, the Purchaser will acquire all of the issued and
      outstanding shares of Americas Bullion Royalty Corp. by way of a plan of
      arrangement (the "Plan of Arrangement"), a copy of which is attached as
      Schedule A to the Arrangement Agreement;

	 	 
	B. 	
      Pursuant to Section 2.3(i) of the Plan of Arrangement,
      the transactions contemplated by this Agreement shall occur in accordance
      with and on the terms and conditions specified in this
Agreement;

	 	 
	C. 	
      The Parties are entering into this Agreement to document
      and evidence the purchase and sale of the Purchased Assets (as defined
      below) as contemplated in the Plan of Arrangement;

	 	 
	D. 	
      The GP holds in trust for the LP certain cash amounts
      (the "Cash"), certain marketable securities (the "Marketable Securities")
      and certain illiquid securities (the "Illiquid Securities"), all as more particularly set
      out in Schedule A hereto (the Cash, Marketable Securities and Illiquid
      Securities, collectively the "Purchased Assets"); and

- 2 -

	E. 	
      The Purchaser wishes to purchase and the LP wishes to
      sell the Purchased Assets on the terms and conditions set out
    herein.

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of
the premises and the mutual agreements contained herein and other good and
valuable consideration (the receipt, and adequacy, of which is acknowledged by
each of the Parties hereto) the Parties hereto represent, covenant and agree as
follows: 

ARTICLE l 
INTERPRETATION 

1.1        Definitions 

      
     The Parties agree that the following terms shall
have the following meanings in this Agreement: 

	 	(a) 	"Agreement" means this Asset
      Purchase Agreement. 
	 	 	
       

	 	(b) 	
      "AMB Shares" means the shares of Americas Bullion Royalty
      Corp. 

	 	 	
       

	 	(c) 	
      "Arrangement" has the meaning ascribed thereto in Recital
      A; 

	 	 	
       

	 	(d) 	
      "Arrangement Agreement" has the meaning ascribed thereto
      in Recital A; 

	 	 	
       

	 	(e) 	
      "Authorization" means, with respect to any Person, any
      order, permit, approval, consent, waiver, licence or similar authorization
      of any Governmental Entity having jurisdiction over the Person; 

	 	 	
       

	 	(f) 	
      "Business Costs" has the meaning ascribed thereto in
      Section 2.2(e); 

	 	 	
       

	 	(g) 	
      "Business Costs Statement" has the meaning ascribed
      thereto in Section 2.3; 

	 	 	
       

	 	(h) 	
      "Business Day" means any day other than a Saturday,
      Sunday or statutory holiday in Bermuda; 

	 	 	
       

	 	(i) 	
      "Cash" has the meaning ascribed thereto in Recital D and
      as more particularly described in Schedule A; 

	 	 	
       

	 	(j) 	
      "Cash Portion of the Purchase Price" has the meaning
      ascribed thereto in Section 2.2(b); 

	 	 	
       

	 	(k) 	
      "Closing" means the closing of the Transaction;

	 	 	
       

	 	(1) 	
      "Effective Date" has the meaning ascribed thereto in the
      Plan of Arrangement; 

- 3 -

	 	(m) 	
      "Effective Time" has the meaning ascribed
      thereto in the Plan of Arrangement;

	 	 	 
	 	(n) 	
      "Exchange Ratio" means 0.01, or such other number as the
      directors of AMB may determine in accordance with Section 2.5 of the Plan
      of Arrangement;

	 	 	 
	 	(o) 	
      "Governmental Entity" means (i) any governmental or
      public department, central bank, court, commission, board, bureau, agency,
      commissioner, minister, governor-in-council, cabinet, tribunal or
      instrumentality whether international, multinational, national, federal,
      provincial, state, municipal, local or other, (ii) any subdivision or
      authority of any of the above and (iii) any quasi-governmental or private
      body exercising any regulatory, expropriation or taxing authority under or
      for the account of any of the above;

	 	 	 
	 	(p) 	
      "GP" means La Plata Rivers
      Partners, LLC;

	 	 	 
	 	(q) 	
      "Liquid Securities" has the meaning ascribed
      thereto in Recital D and as more particularly described in Schedule
    A;

	 	 	 
	 	(r) 	
      "Liquid Securities Portion of the Purchase
      Price" has the meaning ascribed thereto in 2.2(d);

	 	 	 
	 	(s) 	
      "Laws" means all statutes,
      regulations, statutory rules, orders, and terms and conditions of any
      grant of approval, permission, authority or license of any court,
      Governmental Entity, statutory body or self-regulatory authority, and the
      term 11applicable 11 with respect to such Laws and
      in the context that refers to one or more Persons, means that such Laws
      apply to such Person or Persons or its or their business, undertaking,
      property or securities and emanate from a Governmental Entity, statutory
      body or self-regulatory authority having jurisdiction over the Person or
      Persons or its or their business, undertaking, property or
    securities;

	 	 	 
	 	(t) 	
      "Lien" means any mortgage, charge, pledge, hypothec,
      security interest, prior claim, encroachments, option, right of first
      refusal or first offer, occupancy right, covenant, assignment, lien
      (statutory or otherwise), defect of title, or restriction or adverse right
      or claim, or other third party interest or encumbrance of any kind, in
      each case, whether contingent or absolute;

	 	 	 
	 	(u) 	
      "LP" means Kudu Partners,
    L.P.;

	 	 	 
	 	(v) 	
      "Marketable Securities" has the
      meaning ascribed thereto in Recital D and as more particularly described
      in Schedule A;

	 	 	 
	 	(w) 	
      "Marketable Securities Portion of the Purchase Price" has
      the meaning ascribed thereto in Section 2.2(c);

	 	 	 
	 	(x) 	
      "Parties" means the Purchaser and the
  Vendors;

- 4 -

	 	(y) 	
      "Person" means any individual, sole proprietorship,
      partnership, limited partnership, joint venture, syndicate, unincorporated
      association, corporation, trust, trustee, executor, administrator or other
      legal representative, regulatory body or agency, government or
      governmental agency, authority or entity however designated or
      constituted;

	 	 	 
	 	(z) 	
      "Plan of Arrangement" has the meaning ascribed thereto in
      Recital A;

	 	 	 
	 	(aa) 	
      "Purchase Price" has the meaning ascribed thereto in
      Section 2.2;

	 	 	 
	 	(bb) 	
      "Purchase Price Calculation Date" has the meaning
      ascribed thereto in 2.2(b);

	 	 	 
	 	(cc) 	
      "Purchased Assets" has the meaning ascribed thereto in
      Recital D;

	 	 	 
	 	(dd) 	
      "Purchaser" means Till Capital Ltd. (formerly Resource
      Holdings Ltd.);

	 	 	 
	 	(ee) 	
      "Taxes" means (i) any and all taxes, duties, fees,
      excises, premiums, assessments, imposts, levies and other charges or
      assessments of any kind whatsoever imposed by any Governmental Entity,
      whether computed on a separate, consolidated, unitary, combined or other
      basis, including those levied on, or measured by, or described with
      respect to, income, gross receipts, profits, gains, windfalls, capital,
      capital stock, production, recapture, transfer, land transfer, license,
      gif t, occupation, wealth, environment, net worth, indebtedness, surplus,
      sales, goods and services, harmonized sales, use, value-added, excise,
      special assessment, stamp, withholding, business, franchising, real or
      personal property, health, employee health, payroll, workers'
      compensation, employment or unemployment, severance, social services,
      social security, education, utility, surtaxes, customs, import or export,
      and including all license and registration fees and all employment
      insurance, health insurance and government pension plan premiums or
      contributions; (ii) all interest, penalties, fines, additions to tax or
      other additional amounts imposed by any Governmental Entity on or in
      respect of amounts of the type described in clause (i) above or this
      clause (ii); (iii) any liability for the payment of any amounts of the
      type described in clauses (i) or (ii) as a result of being a member of an
      affiliated, consolidated, combined or unitary group for any period; and
      (iv) any liability for the payment of any amounts of the type described in
      clauses (i) or (ii) as a result of any express or implied obligation to
      indemnify any other Person or as a result of being a transferee or
      successor in interest to any party;

	 	 	 
	 	(ff) 	
      "Till Shares" means the restricted voting shares of Till
      Capital Ltd. (formerly Resource Holdings Ltd.) to be issued to the LP in
      consideration of the Purchased Assets, to be held in trust by the GP on
      behalf of the LP;

	 	 	 
	 	(gg) 	
      "Transaction" means the purchase and sale of the
      Purchased Assets contemplated by this
Agreement;

- 5 -

	 	(hh) 	
      "TSX" means the Toronto Stock
  Exchange;

	 	 	 
	 	(ii) 	
      "TSX-V" means the TSX Venture
      Exchange;

	 	 	 
	 	(jj) 	
      "Vendors" means the LP and the GP; and

	 	 	 
	 	(kk) 	
      "VWAP" has the meaning ascribed thereto in Section
      2.2.

	1.2 	
      Interpretation

	 	 	 
		
      For the purposes of this Agreement:

	 	 	 
		(a) 	
      the schedules attached to this Agreement form an integral
      part of this Agreement for the purposes of it;

	 	 	 
		(b) 	
      for the purposes of this Agreement, references to "the
      knowledge of the Vendors" or "the Vendors have no knowledge" means the
      actual current knowledge of senior management of the Vendors without any
      obligation to make on inquiries of any Person;

	 	 	 
		(c) 	
      words importing the singular number include the plural
      and vice versa, and words importing the masculine gender include the
      feminine and neuter genders;

	 	 	 
		(d) 	
      any reference in this Agreement to an article, paragraph,
      subparagraph, Section, Subsection or Schedule is a reference to the
      appropriate article, paragraph, subparagraph, Section, Subsection or
      Schedule in or to this Agreement;

	 	 	 
		(e) 	
      the headings are for convenience of reference only and
      shall not affect the construction or interpretation of this
    Agreement;

	 	(f) 	
      the words "herein", "hereof" and "hereunder" and words of
      similar import refer to this Agreement as a whole and not to any
      particular Article, section, subsection, paragraph, subparagraph or other
      subdivision or Schedule hereof;

	 	(g) 	
      the word "including" when following
      any general statement, term or matter, will not be construed to limit such
      general statement, term or matter to the specific items or matters set
      forth immediately following such word or to similar items or matters, but
      will be construed to refer to all other items or matters that could
      reasonably fall within the scope of such general statement, term or
      matter, whether or not non-limiting language (such as "without
      limitation", "but not limited to" or words of similar import) is used with
      reference thereto; and

	 	 	
       

	 	(h) 	
      when calculating the period of time within which or
      following which any act is to be done or step taken pursuant to this
      Agreement, the date which is the reference date in calculating such period
      will be excluded and if the last day of such period is a non-Business Day,
the period in question will end on the next Business Day. 

- 6 -

ARTICLE 2 
PURCHASE AND SALE 

2.1        Purchase and Sale

            The
LP, by its GP, hereby agrees to sells, assigns and transfers to the Purchaser
and the Purchaser hereby agrees to purchases from the GP, in trust for the LP,
the Purchased Assets free and clear of all Liens and in accordance with and
subject to the terms and conditions set forth in this Agreement. 

2.2        Purchase Price

(1)        The purchase
price payable by the Purchaser to the LP for the Purchased Assets (the "Purchase
Price") shall be the aggregate of: 

	 	(b) 	
      an amount (the "Cash Portion of the Purchase Price")
      equal to the value in US dollars of the Cash; for the purposes of the
      foregoing, the US dollar value of the Cash shall be determined using the
      closing rate of the exchange published by the Bank of Canada on the day
      that is two (2) Business Days before the Closing, or such other date as
      the parties may agree, (the "Purchase Price Calculation Date"), provided
      that, if such day is not a Business Day, then the Purchase Price
      Calculation Date shall be the first Business Day immediately preceding
      such day;

	 	 	
       

	 	(c) 	
      an amount (the "Marketable Securities Portion of the
      Purchase Price") equal to the fair market value of the Marketable
      Securities as determined by volume weighted average price
      ("VWAP" of each type of Marketable ) Security for
      the 10 trading day period immediately prior to the Purchase Price
      Calculation Date;

	 	 	
       

	 	(d) 	
      an amount (the "Illiquid Securities Portion of
      the Purchase Price") equal to fair market value of the Illiquid Securities
      as agreed to by the Parties, each acting reasonably; and

	 	 	
       

	 	(e) 	
      the normal business costs incurred by the LP from March
      1, 2014 up until the Closing (the "Business Costs") as set out in the
      Business Costs Statement, which is estimated to be $22,000, but in no
      event shall the Business Costs exceed $30,000.

(2)        The Cash Portion
of the Purchase Price, the Marketable Securities Portion of the Purchase Price,
the Illiquid Securities Portion of the Purchase Price and the Business Costs
shall be calculated in US dollars using the closing rate of the exchange
published by the Bank of Canada on the Purchase Price Calculation Date.
Notwithstanding the foregoing, the Purchase Price shall be calculated in
Canadian dollars using the closing rate of the exchange published by the Bank of
Canada on the Purchase Price Calculation Date. 

- 7 -

2.3        Business Costs
Determination 

            Three
(3) days prior to the Closing, the GP, on behalf of the LP, will supply the
Purchaser with a statement setting out the Business Costs of the L.P. Upon
approval by the Purchaser acting reasonably, such statement will be the
"Business Costs Statement". 

2.4        Payment of
Purchase Price 

(1)        At Closing and
subject to the GP, on behalf of the LP's obligations to comply with the
requirements of section 116 of the Income Tax Act (Canada), as
applicable, the Purchase Price shall be paid and satisfied by the Purchaser to
the GP, in trust for the LP, that number of shares of the Purchaser (the "Till
Shares") which has a value equal to the VWAP of an AMB Share on the TSX or the
TSX-V, as applicable, for the 10 trading day period immediately prior to the
Purchase Price Calculation Date divided by the Exchange Ratio; provided that,
the directors of AMB, may at any time prior to the Effective Time, by resolution
of the AMB board of directors, alter the Exchange Ratio if it determines that it
is necessary or advisable to do so in order to ensure that the Purchaser will,
upon completion of the Arrangement, meet the minimum distribution requirements
of the TSX-V applicable to a Tier 1Issuer (as defined in the TSX-V Corporate
Finance Manual). 

(2)        The Till Shares
shall be issued as fully paid as fully paid and non-assessable, and shall be
free of all Liens. 

(3)        The Parties agree
that delivery of the share certificates in accordance with section 6.2(c) shall
satisfy in full the Purchaser's obligation to pay the Purchase Price. 

2.5        Taxes and Fees

            Each
of the Purchaser and the GP, on behalf of the LP, will be liable for all Taxes,
duties, registration fees or other like charges properly payable by such Party
under applicable Law in connection with the Transaction. 

ARTICLE 3 
REPRESENTATION AND WARRANTIES OF THE VENDORS

3.1        Representations
and Warranties of the Vendors 

            The
Vendors represent and warrant as follows to the Purchaser at the date of this
Agreement and acknowledge and confirm that the Purchaser is relying upon such
representations and warranties in connection with the purchase of the Purchased
Assets: 

	 	(a) 	
      Incorporation and Qualification of the GP. The GP is a
      corporation duly incorporated, validly existing and in good standing under
      the Laws of Delaware and has the power and authority to enter into this
      Agreement and to carry out the transactions contemplated by this
      Agreement, all of which have been duly and validly authorized by all
      requisite proceedings and that this Agreement constitutes a legal, valid,
      and binding obligation of the GP in accordance with its
  terms.

- 8 -

	 	(b) 	
      Incorporation and Qualification of the LP. The LP is a
      limited partnership duly organized and validly existing under the laws of
      Delaware, has the power and authority to enter into this Agreement and to
      carry out the transactions contemplated by this Agreement, all of which
      have been duly and validly authorized by all requisite proceedings and
      that this Agreement constitutes a legal, valid, and binding obligation of
      the LP in accordance with its terms.

	 	 	 
	 	(c) 	
      Corporate Authority. The execution and delivery of and
      performance by the LP and the GP, on behalf of the LP, of this Agreement
      have been authorized by all necessary corporate action on the part of the
      GP and the LP. The transfer of the Purchased Assets to the Purchaser has
      been authorized by all necessary corporate action on the part of the LP
      and the GP, acting on behalf of the LP.

	 	 	 
	 	(d) 	
      Enforceability. This Agreement has been duly executed and
      delivered by the GP, in its own capacity and on behalf of the LP, and
      constitutes a legal, valid and binding agreement of the LP and the GP, in
      its own capacity and on behalf of the LP, enforceable against them in
      accordance with its terms.

	 	 	 
	 	(e) 	
      No Conflicts. The execution and delivery of this
      Agreement, the consummation of the transactions among the Parties
      contemplated hereby, or the due observance and performance by the Vendors
      of their obligations herein:

	 	(i) 	
      will not conflict with or result in a breach of or
      violate any of the terms, conditions or provisions of the limited
      partnership agreement, the charter documents or by laws of the Vendors, as
      applicable;

	 	 	 
	 	(ii) 	
      will not conflict with or result in a breach of or
      violate any of the terms, conditions or provisions of any Law, judgment,
      order, injunction, decree, regulation or ruling of any court or
      Governmental Entity, domestic or foreign, to which the Vendors are
      subject; or

	 	 	 
	 	(iii) 	
      will not violate or conflict with or result in a breach
      of any provision of, or constitute a default (or an event which, with
      notice or lapse of time or both, would constitute a default) under or
      result in the termination of or accelerate the performance required by, or
      result in the creation of any Lien, security interest, charge or
      encumbrance upon any of the Purchased Assets or the properties or assets
      of the Vendors under any of the terms, conditions or provisions of the
      articles or any note, bond, mortgage, indenture, deed of trust, licence,
      agreement or other instrument or obligation to which the Vendors are a
      party or pursuant to which any of their properties or assets may be bound
      or affected.

	 	(f) 	
      Title to Purchased Assets. The GP is the sole registered
      owner of the Purchased Assets and holds the Purchased Assets in trust for
      LP. The LP is the sole beneficial owner of the Purchased Assets. The
      Vendors have good and marketable title to the Purchased Assets, free and
      clear of all Liens, charges, mortgages, security interests, encumbrances,
      rights, calls, claims and demands of every nature and kind whatsoever. The
      GP, has the full power and authority to sell, transfer and assign to the
      Purchaser the Purchased Assets and to vest in the Purchaser a good, valid
      and subsisting title in and to the Purchased Assets free and clear of all
      Liens, charges, mortgages, security interests, encumbrances, rights,
      calls, claims, demands or liabilities of every nature and kind whatsoever.
      All of the Purchased Assets have been issued in compliance with all
      applicable Laws including, without limitation, applicable securities Laws. 

- 9 -

	 	(g) 	
      No Other Agreements to Purchase. Except for the
      Purchaser's right under this Agreement, no person has any written or oral
      agreement, option or warrant or any right or privilege (whether by Law,
      pre- emptive or contractual) capable of becoming such for the purchase or
      acquisition from the LP, by its GP, of any of the Purchased Assets.
  

	 	  	
       

	 	(h) 	
      Authorizations and Consents. There is no requirement on
      the part of the GP, on behalf of the LP, to make any filing with or give
      any notice to any Governmental Entity or body, or obtain any order,
      permit, approval, waiver, license or similar authorization, in connection
      with the completion of the transactions contemplated by this Agreement,
      except for filings and notifications required by applicable Laws,
      applicable securities Laws. 

	 	  	
       

	 	(i) 	
      Residence. The Vendors and each Person who is a partner
      of the LP are non- residents of Canada for the purposes of the Income
      Tax Act (Canada). 

	 	  	
       

	 	G) 	
      No Action. The Vendors are not aware of any action, suit
      or proceeding, at law or at equity, for or by any court or any federal,
      provincial, municipal or other governmental department, comrmssion, board,
      agency or instrumentality which would prevent or materially adversely
      affect the transactions contemplated by this Agreement. 

	 	  	
       

	 	(k) 	
      Bankruptcy. The Vendors have not committed an act of
      bankruptcy, proposed a compromise or arrangement to their creditors, had
      any petition for a receiving order filed against them, taken any
      proceeding with respect to a compromise, arrangement or winding up, or
      otherwise taken advantage of any insolvency or bankruptcy legislation, had
      a receiver appointed to any part of their property or had any execution or
      distress or seizure levied upon any of their property. 

	 	  	
       

	 	(1) 	
      Securities Laws. Neither of the Vendors is a reporting
      issuer (as such term is defined in the Securities Act (British
      Columbia). 

- 10-

ARTICLE 4 
PURCHASER'S REPRESENTATIONS AND WARRANTIES

4.1        Purchaser's
Representations and Warranties 

            The
Purchaser represents and warrants as follows to the Vendors at the date of this
Agreement and acknowledges and confirms that the Vendors are relying on such
representations and warranties in connection with the sale by the GP, in trust
for the LP, of the Purchased Assets: 

	 	(a) 	
      Incorporation and Qualification. The Purchaser is a
      corporation incorporated and existing under the Laws of Bermuda. The
      Purchaser has the corporate power to enter into and perform its
      obligations under this Agreement.

	 	(b) 	
      Corporate Authority. The execution and delivery of and
      performance by the Purchaser of this Agreement have been authorized by all
      necessary corporate action on the part of the
Purchaser.

	 	(c) 	
      Approvals. The Purchaser has obtained all necessary
      approvals to enter into this Agreement and to carry out the transactions
      contemplated by this Agreement.

	 	 	 
	 	(d) 	
      Enforceability. This Agreement constitutes a legal, valid
      and binding obligation of the Purchaser enforceable against the Purchaser
      in accordance with its terms.

	 	 	 
	 	(e) 	
      Non-Contravention. Neither the execution, delivery and
      performance by the Purchaser of this Agreement nor the completion of the
      transactions contemplated hereby will conflict with or result in a breach
      of or default under any agreement or other instrument or obligation to
      which the Purchaser is a party or by which the Purchaser is
  bound.

ARTICLE 5
CLOSING 

5.1        Closing 

            Closing
shall occur on the Effective Date at the time set out in the Plan of
Arrangement. 

5.2        Conditions
Precedent to the Agreement 

            The
obligations of the parties to complete the Transaction and to deliver the
documents contemplated hereby are conditional on the satisfaction or waiver of
all conditions precedent in the Arrangement Agreement which condition is for the
benefit of both the Vendors and Purchaser and may not be waived. 

- 11-

ARTICLE 6 
CLOSING COVENANTS 

6.1        Vendor's
Covenants 

            The
Vendor covenants to the Purchaser to deliver on or before the Effective Time the
following: 

	 	(a) 	
      certified copies of (a) the resolutions of the directors
      of the GP approving the execution, performance, and delivery of this
      Agreement and (b) the constating documents of the GP and the limited
      partnership agreement of the LP;

	 	 	 
	 	(b) 	
      a certificate of good standing of the GP and the
    LP;

	 	 	 
	 	(c) 	
      a bill of sale with respect to the Purchased
    Assets;

	 	 	 
	 	(d) 	
      the Cash; and

	 	 	 
	 	(e) 	
      any other documentation as may reasonably be required by
      the Purchaser.

6.2        Purchaser's
Covenants 

            The
Purchaser covenants to the Vendor to deliver on or before the Effective Time the
following: 

	 	(a) 	
      certified copies of (a) the resolutions of the directors
      of the Purchaser approving the execution, performance, and delivery of
      this Agreement, and (b) the constating documents of the
  Purchaser;

	 	 	 
	 	(b) 	
      a certificate of good standing of the
Purchaser;

	 	 	 
	 	(c) 	
      a share certificate of the Purchaser representing the
      Till Shares registered in the name of the GP, in trust for the LP in full
      satisfaction of the Purchase Price;

	 	 	 
	 	(d) 	
      a bill of sale with respect to the Purchased Assets;
      and

	 	 	 
	 	(e) 	
      any other documentation as may reasonably be required by
      the Vendors.

ARTICLE 7 
SURVIVAL OF COVENANTS, REPRESENTATIONS AND
WARRANTIES 

7.1        Survival of
Covenants, Representations and Warranties of the Vendors 

            The
covenants, representations and warranties of the Vendors contained in this
Agreement and in any certificates or documents delivered pursuant to or in
connection with the transactions contemplated by this Agreement shall survive
the closing of the purchase and sale of the Purchased Assets and,
notwithstanding such closing, and regardless of any investigation by or on behalf of the Purchaser, shall continue
in full force and effect for the benefit of the Purchaser without limitation of
time, subject only to applicable limitation periods imposed by Law. 

- 12-

7.2        Survival of
Covenants, Representations and Warranties of the Purchaser 

            The
covenants, representations and warranties of the Purchaser contained in this
Agreement and in any certificates or documents delivered pursuant to or in
connection with the transactions contemplated by this Agreement shall survive
the closing of the purchase and sale of the Purchased Assets and,
notwithstanding such closing, and regardless of any investigation by or on
behalf of the Vendors, shall continue in full force and effect for the benefit
of the Vendors without limitation of time, subject only to applicable limitation
periods imposed by Law. 

ARTICLE 8
GENERAL 

8.1        Time of the
Essence 

            Time
is of the essence in this Agreement. 

8.2        Enurement 

            This
Agreement becomes effective when executed by the Vendors, the Purchaser and the
Company. After that time, it will be binding upon and enure to the benefit of
the Parties and their respective successors, legal representatives and permitted
assigns. Neither this Agreement nor any of the rights or obligations under this
Agreement, including any right to payment, may be assigned or transferred, in
whole or in part, by either Party without the prior written consent of the other
Party. 

8.3        Entire Agreement

            This
Agreement constitutes the entire agreement between the Parties with respect to
the transactions contemplated in this Agreement and supersedes all prior
agreements, understandings, negotiations and discussions, whether oral or
written, of the Parties with respect to such transactions. There are no
representations, warranties, covenants, conditions or other agreements, express
or implied, collateral, statutory or otherwise, between the Parties in
connection with the subject matter of this Agreement, except as specifically set
forth in this Agreement. The Parties have not relied and are not relying on any
other information, discussion or understanding in entering into and completing
the transactions contemplated by this Agreement. 

8.4        Waiver 

           
No waiver of any of the provisions of this Agreement will constitute a waiver of
any other provision (whether or not similar). No waiver will be binding unless
executed in writing by the Party to be bound by the waiver. A Party's failure or
delay in exercising any right under this Agreement will not operate as a waiver
of that right. A single or partial exercise of any right will not preclude a Party from any other
or further exercise of that right or the exercise of any other right it may
have. 

- 13-

8.5        Further
Assurances 

            Each
of the Parties covenants and agrees to do such things, to attend such meetings
and to execute such further documents and assurances as may be deemed necessary
or advisable from time to time in order to carry out the terms and conditions of
this Agreement in accordance with their true intent and the transfer of title of
the Marketable Securities and the Illiquid Securities to the Purchaser, or as
directed by the Purchaser. 

8.6        Termination 

            This
Agreement may, by notice in writing given at or prior to the completion of the
transaction, be terminated by mutual consent of the Vendors and the Purchaser.

8.7        Severability 

            If
any provision of this Agreement is determined to be illegal, invalid or
unenforceable, by an arbitrator or any court of competent jurisdiction from
which no appeal exists or is taken, that provision will be severed from this
Agreement and the remaining provisions will remain in full force and effect.

8.8        Amendment or
Modification 

            This
Agreement will not be amended or modified, unless such amendment or modification
is agreed to in writing by the Parties, and each Party executes a written
instrument giving effect to such modification. 

8.9        Governing Law

            This
Agreement is governed by, and will be interpreted and construed in accordance
with, the Laws of Bermuda 

8.10      Currency 

           
All references herein to dollar amounts are references to dollars in the lawful
currency of the United States of America. 

8.11      Counterparts 

            This
Agreement may be executed in any number of counterparts, each of which is deemed
to be an original, and such counterparts together constitute one and the same
instrument. Transmission of an executed signature page by facsimile, email or
other electronic means is as effective as a manually executed counterpart of
this Agreement. 

[Signature page follows] 

The parties have executed this   Agreement as of the date first written above.

	 	TILL CAPITAL LTD. (FORMERLY

    RESOURCE HOLDINGS LTD.)
	 	 	 
	:	By:	/s/ Timothy P. Leybold
	 	 	

    
	 	 	Name:  Timothy P. Leybold
	 	 	Title:    Chief Financial Officer

	 	KUDU PARTNERS, L.P., BY ITS

    GENERAL PARTNER, LA PLATA RIVER

    PARTNERS LLC
	 	 	 
	:	By:	/s/ William Lupien
	 	 	

    
	 	 	Name:  William Lupien
	 	 	Title:    

	 	LA PLATA RIVER
    PARTNERS LLC
	 	 	 
	:	By:	/s/ William Lupien
	 	 	

    
	 	 	Name:  William Lupien
	 	 	Title:    

Schedule A - Purchased Assets 

 

 

 

 

 

 

 

 

 

A - 1Till Capital Ltd.: Exhibit 4.16 - Filed by newsfilecorp.com

Schedule "G" to the SPD Share Purchase Agreement 

THIS OFFERING IS BEING MADE ONLY IN JURISDICTIONS WHERE THE
SHARES MAY BE LAWFULLY OFFERED FOR SALE. NO OFFER IS MADE NOR WILL SUBSCRIPTIONS
BE ACCEPTED FROM RESIDENTS OF ANY JURISDICTION WHERE THE OFFER AND SALE OF THE
SHARES WILL CONTRAVENE APPLICABLE SECURITIES LAWS. THIS OFFERING IS NOT BEING
MADE TO U.S. PERSONS (AS THAT TERM IS DEFINED IN REGULATION S). 

 

	 
	PRIVATE PLACEMENT 
	 
	SUBSCRIPTION AGREEMENT OF COMMON SHARES
      
	 
	 

INSTRUCTIONS TO PURCHASER 

	I . 	
      Page 1- Complete all the information in the boxes on page
      I and sign where indicated. 

	2. 	
      Schedule "A" or "B'' - Complete either the Corporate
      Placee Registration Form attached hereto as Schedule "A" or the
      Confirmation of Previously Filed Corporate Placee Registration Form
      attached hereto as Schedule "B". 

	3. 	
      Schedule "C" - If you are an "accredited investor", then
      complete the "Accredited Investor Questionnaire" attached hereto as
      Schedule "B". 

	4. 	
      Pages 6 & 7 - If you are not an "accredited investor"
      and are resident in Canada, then ensure that you have completed either of
      sections 8(e)(iii) or (iv) on pages 6 or 7 of this Subscription.

	5. 	
      Payment - Send a bank draft, certified cheque along with
      your completed forms to the address below. If you wish to pay by wire
      transfer, refer to Schedule "D". 

The completed forms and any cheques should be delivered to:

Attention: Nancy La Couvee, Corporate Secretary 
SILVER
PREDATOR CORP. 
#800 - 1199 West Hastings Street 
Vancouver, British
Columbia, Canada V6E 3T5 
Fax: (604) 608-9345 
Email:
nlacouvee@silverpredator.com 

Should you have any questions regarding the completion of this
Subscription and the attached Schedules please contact Nancy La Couvee at (778)
968-6941. 

PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT - COMMON SHARES 

ACCEPTANCE: The Company hereby accepts the subscription as set
forth above on the tenns and conditions contained in this Subscription
Agreement. 

Dated at Vancouver, British Columbia, this ______________day of
_________________________________________2014. 

SILVER PREDATOR CORP. 

Per: 
____________________________________________
       
(AuthorizedSignatory) 

	I. 	
      Aggregate Subscription Payment to be converted into
      Canadian dollars using the noon rate of exchange published by the Bank of
      Canada on the business day immediately preceding the Closing
  Date.

PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT· COMMON SHARES 

ACCEPTANCE: The Company hereby accepts the subscription as set
forth above on the terms and conditions contained in this Subscription
Agreement. 

Dated at Vancouver, British Columbia, this 17 day of
April, 2014. 

SILVER PREDATOR CORP. 

	Per: 	/s/
      Anthony Jackson 	 
	  	(AuthorizedSignatory) 	 

	1. 	
      Aggregate Subscription Payment to be converted into
      Canadian dollars using the noon rate of exchange published by the Bank of
      Canada on the business day immediately preceding the Closing
  Date.

TO:        SILVER PREDATOR
CORP. 

1.                    
Subscription. The undersigned (the "Purchaser") hereby tenders to SILVER
PREDATOR CORP. (the "Company" or the "Issuer") this subscription offer which,
upon acceptance by the Company, will constitute an agreement (the "Subscription
Agreement") of the Purchaser with the Company to purchase from the Company the
number of Shares (as defined below) set out on page 1 hereof at the Purchase
Price, on the terms and subject to the conditions set forth in this Subscription
Agreement. 

By its acceptance of this offer, the Company covenants, agrees
and confirms that the Purchaser will have the benefit of all of the
representations, warranties, covenants, agreements, terms and conditions set
forth hereunder. 

2.                    
Definitions. In this Subscription Agreement, unless the context otherwise
requires: 

	 	(a) 	
      "Accredited Investor Status Certificate" means the
      accredited investor status certificate required to be completed by a
      Purchaser who is a resident of Canada, in the form of Schedule "C"
      attached hereto; 

	 	  	
       

	 	(b) 	
      "affiliate", "distribution" and "insider" have the
      respective meanings ascribed to them in the Securities Act (British
      Columbia); 

	 	  	
       

	 	(c) 	
      "Closing" means the completion of the issue and sale by
      the Company and the purchase by the Purchaser of the Shares pursuant to
      this Subscription Agreement; 

	 	  	
       

	 	(d) 	
      "Closing Date" means May 15, 2014 or such other date
      mutually agreed by the Company and the Purchaser; 

	 	  	
       

	 	(e) 	
      "Closing Time" means 10:00 a.m. (Pacific time) on the
      Closing Date or such other time as the Company and the Purchaser may
      determine; 

	 	  	
       

	 	(f) 	
      "Common Share" means common shares without par value in
      the capital of the Company; 

	 	  	
       

	 	(g) 	
      "Designated Provinces" means Ontario, British Columbia
      and Alberta; 

	 	  	
       

	 	(h) 	
      "material" means material in relation to the Company;
    

	 	  	
       

	 	(i) 	
      "material change" means any change in the business,
      operations, assets, liabilities, ownership or capital of the Company
      (except the transactions contemplated herein) that would reasonably be
      expected to have a significant effect on the market price or value of the
      Shares and includes a decision to implement such a change made by the
      board of directors of the Company or by senior management of the Company
      who believe that confirmation of the decision by the board of directors is
      probable; 

	 	  	
       

	 	(j) 	
      "Offering" means the offering of such number of Common
      Shares for an aggregate subscription price of US$ l ,800,000 to the
      Purchaser converted into Canadian dollars using the noon rate of exchange
      published by the Bank of Canada on the business day immediately preceding
      the Closing Date; 

	 	  	
       

	 	(k) 	
      "Public Record" means all information and materials filed
      by the Company with the Commissions and which are available through the
      SEDAR website (including all exhibits and schedules thereto and documents
      incorporated by reference therein) from January 1, 2012 to the date
      hereof; 

	 	  	
       

	 	(1) 	
      "Purchase Price" means the price per Share, equal to the
      greater of: (i) the volume weighted average trading price of the Common
      Shares on the Stock Exchange for the seven trading days immediately
      preceding the date that is two days before the Closing Date; and (ii) the
      minimum price permitted by the Stock Exchange. 

	 	  	
       

	 	(m) 	
      "Purchaser" means Till Capital Ltd.; 

	 	  	
       

	 	(n) 	
      "Regulation S" means Regulation S under the U.S.
      Securities Act; 

2 

	 	(o) 	
      "Securities Commissions" means, collectively, the
      secunt1es commission or other securities regulatory authority in each of
      the Designated Provinces;

	 	 	 
	 	(p) 	
      "Securities Laws" means, collectively, the applicable
      securities laws of each of the Designated Provinces and the respective
      regulations and rules made and forms prescribed thereunder together with
      all applicable published policy statements, blanket orders, rulings and
      notices of the Securities Commissions;

	 	 	 
	 	(q) 	
      "SEDAR" means the System for Electronic Document Analysis
      and Retrieval;

	 	 	 
	 	(r) 	
      "Shares" means common shares of the Company offed for
      sale to the Purchaser pursuant to this Offering;

	 	 	 
	 	(s) 	
      "Stock Exchange" means the TSX Venture
Exchange;

	 	 	 
	 	(t) 	
      "U.S. Person" means a U.S. Person as that term is defined
      in Regulation S under the U.S. Securities Act; and

	 	 	 
	 	(u) 	
      "U.S. Securities Act" means the United States
      Securities Act of 1933, as amended and rules and regulations
      thereunder.

3.                    
Delivery and Payment. The Purchaser agrees that the following shall be delivered
to the Company at the address set out on the face page hereof, at such time as
the Company may advise: 

	 	(a) 	
      a completed and duly signed copy of this Subscription
      Agreement;

	 	 	 
	 	(b) 	
      if the Purchaser is not an individual and will hold more
      than 5% of the Issuer's issued and outstanding common shares upon
      completion of the Offering, a fully executed corporate placee registration
      form in the form set out in Schedule "A" unless the Purchaser has filed
      such a form with the Stock Exchange within the last year and it is still
      current, in which case the Purchaser will deliver confirmation of such
      filing in the form set out in Schedule "B".

	 	 	 
	 	(c) 	
      if the Purchaser is purchasing as an "accredited
      investor", a completed and duly signed copy of the Accredited Investor
      Status Certificate;

	 	 	 
	 	(d) 	
      any other documents required by applicable securities
      laws which the Company requests; and

	 	 	 
	 	(e) 	
      a wire transfer made payable on or before the Closing
      Date (or such other date as the Company may advise) in same day freely
      transferable Canadian funds at par in Vancouver, British Columbia to
      "SILVER PREDATOR CORP." representing the aggregate purchase price payable
      by the Purchaser for the Shares, or such other method of payment against
      delivery of the Shares as the Company may accept.

                         The
Purchaser acknowledges and agrees that such undertakings, questionnaires and
other documents, when executed and delivered by the Purchaser, will form part of
and will be incorporated into this Subscription Agreement with the same effect
as if each constituted a representation and warranty or covenant of the
Purchaser hereunder in favour of the Company. The Purchaser consents to the
filing of such undertakings, questionnaires and other documents as may be
required to be filed with the Stock Exchange or other securities regulatory
authority in connection with the transactions contemplated hereby. The Purchaser
acknowledges and agrees that this offer, the Purchase Price and any other
documents delivered in connection herewith will be held by the Company until
such time as the Company accepts or rejects this offer. 

4.                    
Closing. The transactions contemplated hereby will be completed at the Closing
at the offices of the Company at Suite 800, 1199 West Hastings Street,
Vancouver, British Columbia. At the Closing, the Company will issue the Shares
subscribed and paid for hereunder and deliver them such Shares to the Purchaser
at the address set forth on the cover page hereof. 

5.                    
General Representations, Warranties and Covenants of the Company. By accepting
this offer, the Company represents and warrants to the Purchaser as follows:

3 

	 	(a) 	
      the Company and its subsidiaries are valid and subsisting
      corporations duly incorporated and in good standing under the laws of the
      jurisdictions in which they are incorporated, continued or
    amalgamated;

	 	 	 
	 	(b) 	
      the Company has all requisite corporate power and
      capacity to enter into, and carry out its obligations under, this
      Subscription Agreement and this Subscription Agreement is a legal, valid
      and binding obligation of the Company;

	 	 	 
	 	(c) 	
      no Offering Memorandum has been or will be provided to
      the Purchaser;

	 	 	 
	 	(d) 	
      the Company has complied, or will comply, with all
      applicable corporate and securities laws and regulations in connection
      with the offer, sale and issuance of the Shares, and in connection
      therewith has not engaged in any "direct selling efforts," as such term is
      defined in Regulation S, or any "general solicitation or general
      advertising" as described in Regulation D of the U.S. Securities
    Act;

	 	 	 
	 	(e) 	
      on the Closing Date, the Company will have taken all
      corporate steps and proceedings necessary to approve the transactions
      contemplated hereby, including the execution and delivery of this
      Subscription Agreement;

	 	 	 
	 	(t) 	
      the Company and its subsidiaries are the beneficial
      owners of the properties, business and assets or the interests in the
      properties, business or assets referred to in its Public Record and except
      as disclosed therein, all agreements by which the Company or its
      subsidiaries holds an interest in a property, business or asset are in
      good standing according to their terms, and the properties are in good
      standing under the applicable laws of the jurisdictions in which they are
      situated;

	 	 	 
	 	(g) 	
      the financial statements comprised in the Public Record
      accurately reflect the financial position of the Company as at the date
      thereof, and no adverse material changes in the financial position of the
      Company have taken place since the date of the Company's last financial
      statements except as filed in the Public Record;

	 	 	 
	 	(h) 	
      neither the Company nor any of its subsidiaries is a
      party to any actions, suits or proceedings which could materially affect
      its business or financial condition, and to the best of the Company's
      knowledge no such actions, suits or proceedings have been threatened as at
      the date hereof, except as disclosed in the Public Record;

	 	 	 
	 	(i) 	
      except as set out in the Public Record or herein, no
      person has any right, agreement or option, present or future, contingent
      or absolute, or any right capable of becoming a right, agreement or option
      for the issue or allotment of any unissued common shares of the Company or
      any other security convertible or exchangeable for any such shares or to
      require the Company to purchase, redeem or otherwise acquire any of the
      issued or outstanding Shares of the Company;

	 	(j) 	
      the entering into and performance by the Company will
      not, on the Closing Date, constitute a default under any term or provision
      of the constating documents or resolutions of the Company, or any
      judgment, decree, order, statute, rule or regulation, or any agreement or
      instrument applicable to the Company which in any way materially adversely
      affects the Company or the condition (financial or otherwise) of the
      Company or which would have any material effect upon the ability of the
      Company to perform its obligations arising under this Subscription
      Agreement;

	 	(k) 	
      the Shares will, at the time of Closing, be duly
      allotted, validly issued, fully paid and non- assessable and will be free
      of all liens, charges and encumbrances and the Company will reserve
      sufficient shares in the treasury of the Company to enable it to issue the
      Shares; 

	 	  	     
	 	(1) 	
      the outstanding Shares are now, and will be on the
      Closing Date, listed on the Stock Exchange; 

	 	  	     
	 	(m) 	
      on the Closing Date, no order ceasing or suspending
      trading in the securities of the Company nor prohibiting the sale of such
      securities will have been issued to the Company or its directors, officers
      or promoters and, to the knowledge of the Company, no investigations or
      proceedings for such purposes are pending or threatened;

4 

	 	(n) 	
      prior to the Closing Date, the Company will have obtained
      all required approvals from the Stock Exchange in order to permit the
      completion of the transactions contemplated hereby;

	 	 	 
	 	(o) 	
      the Company will use reasonable commercial efforts to
      satisfy as expeditiously as possible any conditions of the Stock Exchange
      required to be satisfied prior to the Exchange's acceptance of the
      Company's notice of the Offering;

	 	 	 
	 	(p) 	
      the Company will use its best efforts to obtain all
      necessary approvals for this Offering;

	 	 	 
	 	(q) 	
      as at the Closing Date, the Company is a reporting issuer
      in good standing under the securities laws of the Provinces of British
      Columbia, Alberta and Ontario and the Company will use its commercially
      reasonable best efforts to maintain its status; and

	 	 	 
	 	(r) 	
      the Company has full corporate authority to issue the
      Shares at the Closing Time.

6.                    
Acceptance or Rejection. The Company will have the right to accept or reject
this offer in whole or in part at any time at or prior to the Closing Time. The
Purchaser acknowledges and agrees that the acceptance of this offer will be
conditional upon the sale of the Shares to the Purchaser being exempt from any
prospectus or offering memorandum requirements of all applicable Securities Laws
and the equivalent provisions of securities laws of any other applicable
jurisdiction. The Company will be deemed to have accepted this offer upon the
Company's execution of the acceptance form on the face page of this Subscription
Agreement and the delivery at the Closing of the certificates representing the
Shares to or upon the direction of the Purchaser in accordance with the
provisions hereof. 

If this subscription is rejected in whole, any cheques or other
forms of payment delivered to the Company will be promptly returned to the
Purchaser without interest or deduction. If this subscription is accepted only
in part, a cheque representing any refund for that portion of the subscription
for the Shares which is not accepted will be promptly delivered to the Purchaser
without interest or deduction. 

7.                    
Purchaser's Representations and Warranties. The Purchaser represents and
warrants to the Company, as representations and warranties that are true as of
the date of this offer and will be true as of the Closing Date, that: 

	 	(a) 	
      Authorization and Effectiveness. If the Purchaser is a
      corporation, or other unincorporated entity, the Purchaser is a valid and
      existing entity, has the necessary capacity and authority to execute and
      deliver this offer and to observe and perform its covenants and
      obligations hereunder and has taken all necessary corporate action in
      respect thereof. If the Purchaser is an individual, partnership, syndicate
      or other form of unincorporated organization, the Purchaser has the
      necessary legal capacity and authority to execute and deliver this offer
      and to observe and perform its covenants and obligations hereunder and has
      obtained all necessary approvals in respect thereof. In either case,
      whether the Purchaser is a corporation, individual, or an unincorporated
      entity, upon acceptance by the Company, this offer will constitute a
      legal, valid and binding contract of the Purchaser enforceable against the
      Purchaser in accordance with its terms and will not result in a violation
      of any of the Purchaser's constating documents, or equivalent, or any
      agreement to which the Purchaser is a party or by which it is
  bound;

	 	 	 
	 	(b) 	
      Residence. The Purchaser is a resident of the
      jurisdiction referred to under "Name and Address of Purchaser" set out on
      the face page hereof and: (i) is not a U.S. Person or a resident of the
      United States nor is it purchasing the Shares for the account or benefit
      of a U.S. Person or a resident of the United States; (ii) was not offered
      the Shares in the United States; and (iii) did not execute or deliver this
      Subscription Agreement in the United States;

	 	 	 
	 	(c) 	
      Purchasing as Principal. Except to the extent
      contemplated herein, the Purchaser is purchasing the Shares as principal
      (as defined in applicable Securities Laws), for its own account and not
      for the benefit of any other person;

	 	 	 
	 	(d) 	
      Purchasing as Agent or Trustee. In the case of the
      purchase by the Purchaser of the Shares as agent or trustee for any
      principal whose identity is disclosed or undisclosed or identified by
      account number only, each beneficial purchaser of the Shares for whom the
      Purchaser is acting, is purchasing its Shares as principal for its own
      account, and not for the benefit of any other
person, for investment only and not with a view to resale or
      distribution, and the beneficial purchaser is properly described in
      subparagraph (e)(i), (ii), (iii) or (iv) below, and the Purchaser has due
      and proper authority to act as agent or trustee for and on behalf of such
      beneficial purchaser in connection with the transactions contemplated
      hereby;

5 

	 	(e) 	
      Purchaser Has Benefit of Statutory Exemptions. Unless it
      satisfies the requirements under subparagraph 8(d), the Purchaser is (or
      is deemed to be) purchasing the Shares as principal for its own account,
      not for the benefit of any other person, for investment only and not with
      a view to the resale or distribution of all or any of the Shares, it is
      resident in or otherwise subject to applicable securities laws of the
      jurisdiction set under ''Name and Address of Purchaser" on the face page
      hereof and it fully complies with one or more of the criteria set forth
      below:

	 	(i) 	
      it is resident in or otherwise subject to applicable
      securities laws of Canada and it is an "accredited investor", as such term
      is defined in National Instrument 45-106 - Prospectus and Registration
      Exemptions of the Canadian Securities Adilllnistrators adopted under
      the securities legislation of the Canadian jurisdictions ("NI 45-106"), it
      was not created or used solely to purchase or hold securities as an
      accredited investor as described in paragraph (m) of the definition of
      "accredited investor" in NI 45-106, and it has concurrently executed and
      delivered an Accredited Investor Status Certificate in the form attached
      as Schedule "C" to this Subscription Agreement and has initialled or
      placed a check mark in Appendix "A" to Schedule "C" thereto indicating
      that the Purchaser satisfies one of the categories of "accredited
      investor" set forth in such definition; or

	 	 	 
	 	(ii) 	
      it is resident in or otherwise subject to applicable
      securities laws of Canada and it has an aggregate acquisition cost for the
      Shares of not less than $150,000 paid in cash at the time of the trade and
      it was not created or used solely to purchase or hold securities in
      reliance on this exemption from the registration and prospectus
      requirements of applicable securities laws; or

	 	 	 
	 	(iii) 	
      it is resident in or otherwise subject to applicable
      securities laws of Canada (other than Ontario) and it is (if
      applicable, please initial):

	 	(A) 	
      a "director", "executive officer" or "control person" (as
      such terms are defined in NI 45-106 and reproduced in Schedule "C" of this
      Subscription Agreement) of the Company, or of an affiliate of the Company;
      or 

	 	  	     
	 	(B) 	
      a "spouse" (as such term is defined in NI 45-106 and
      reproduced in Schedule "C" of this Subscription Agreement), parent,
      grandparent, brother, sister, child or grandchild of any person referred
      to in subparagraph (A) above; or 

	 	  	     
	 	(C) 	
      a parent, grandparent, brother, sister, child or
      grandchild of the spouse of any person referred to in subparagraph (A)
      above; or 

	 	  	     
	 	(D) 	
      a close personal friend of any person referred to in
      subparagraph (A) above and, if requested by the Company, will provide a
      signed statement describing the relationship with any of such persons; or
      

	 	  	     
	 	(E) 	
      a close business associate of any person referred to in
      subparagraph (A) above and, if requested by the Company, will provide a
      signed statement describing the relationship with any of such persons; or
      

6 

	 	(F) 	
      a "founder" of the Company (as such term is defined in NI
      45-106 and reproduced in Schedule C of this Subscription Agreement), or a
      spouse, parent, grandparent, brother, sister, child, grandchild, close
      personal friend or close business associate of a founder of the Company
      and, if requested by the Company, will provide a signed statement
      describing the relationship with such founder of the Company; or

	 	 	 
	 	(G) 	
      a parent, grandparent, brother, sister, child or
      grandchild of a spouse of a founder of the Company; or

	 	 	 
	 	(H) 	
      a person of which a majority of the voting securities are
      beneficially owned by, or a majority of directors are, persons described
      in subparagraphs (A) through (G) above; or

	 	 	 
	 	(I) 	
      a trust or estate of which all of the beneficiaries or a
      majority of the trustees or executors are persons described in
      subparagraphs (A) through (G) above; or

	 		
      (Note: for the purposes of subparagraph (D) and (F)
      above, a person is not a "close personal friend" solely because the
      individual is a relative or a member of the same organization, association
      or religious group or because the individual is a client, customer
      orformer client or customer, nor is an individual a close personal friend
      as a result of being a close personal friend of a close personal friend of
      one of the listed individuals above, rather the relationship must be
      direct. A close personal friend is one who knows the director, executive
      officer, founder or control person well enough and has known them for a
      sufficient period of time to be in a position to assess their capabilities
      and trustworthiness. Further, for the purposes of subparagraph (E) and (F)
      above, a person is not a "close business associate" solely because the
      individual is a client, customer, former client or customer, nor is the
      individual a close business associate if they are a close business
      associate of a close business associate of one of the listed individuals
      above, rather the relationship must be direct. A close business associate
      is an individual who has had sufficient prior dealings with the director,
      executive officer, founder or control person to be in a position to assess
      their capabilities and trustworthiness.); or

	 	 	 
	 	(iv) 	
      it is resident in or otherwise subject to applicable
      securities laws of Ontario and it is (if applicable, please
      initial):

	 	_______	(A) 	
      a "founder" of the Company, or an "affiliate" of a
      "founder" of the Company (as such terms are defmed in NI 45-106 and
      reproduced in Schedule "C" of this Subscription Agreement); or

	 	 	 	 
	 	 	(B) 	
      a "spouse" (as such term is defmed in NI 45-106 and
      reproduced in Schedule "C" of this Subscription Agreement), parent,
      brother, sister, grandparent, grandchild or child of an executive officer,
      director or "founder" of the Company; or

	 	 	 	 
	 	 	(C) 	
      a person that is a "control person" of the Company;
    or

	 	(v) 	
      it is resident in or otherwise subject to applicable
      securities laws of Canada and it is an employee, executive officer,
      director or consultant (as such terms (other than employee) are defmed in
      NI 45-106 and reproduced in Schedule "C" of this Subscription Agreement)
      of the Company and its participation in the trade is voluntary, meaning it
      is not induced to participate in the trade by expectation of employment or
      appointment or continued employment or appointment with, or engagement or
      continued engagement to provide services to, as applicable, the
      Company;

7 

	 	(f) 	
      Company or Unincorporated Organization. If the Purchaser,
      or any beneficial purchaser referred to in subparagraph (d) above, is a
      corporation or a partnership , syndicate, trust or other form of
      unincorporated organization, the Purchaser or such beneficial purchaser
      was not incorporated or created solely, nor is it being used primarily, to
      permit purchases without a prospectus under applicable law;

	 	 	 
	 	(g) 	
      Absence of Offering Memorandum. The offering and sale of
      the Shares to the Purchaser were not made as a result of any advertising
      in the printed media of general and regular paid circulation, radio or
      television or any other form of advertisement and, except for this
      Subscription Agreement, the only documents, if any, delivered or otherwise
      furnished to the Purchaser in connection with such offering and sale were
      a term sheet, copies of news releases issued by the Company and other
      publicly available documents, which documents the Purchaser acknowledges
      do not, individually or collectively, constitute an offering memorandum or
      similar document;

	 	 	 
	 	(h) 	
      No Undisclosed Information. The Shares are not being
      purchased by the Purchaser as a result of any material information
      concerning the Company that has not been publicly disclosed and the
      Purchaser's decision to tender this offer and acquire the Shares has not
      been made as a result of any oral or written representation as to fact or
      otherwise made by or on behalf of the Company or any other person other
      than as set'out in this Subscription Agreement and the decision is
      otherwise based entirely upon currently available public information
      concerning the Company;

	 	 	 
	 	(i) 	
      Investment Suitability. The Purchaser has obtained, to
      the extent it or he deems necessary, its own professional advice with
      respect to the risks inherent in the investment in the Shares, and the
      suitability of the investment in the Shares in light of its financial
      condition and investment needs; and the Purchaser, and any beneficial
      purchaser referred to in subparagraph (d) above, has such knowledge and
      experience in financial and business affairs as to be capable of
      evaluating the merits and risks of the investment hereunder in the Shares
      and is able to bear the economic risk of loss of such
investment;

	 	 	 
	 	(j) 	
      Source of Subscription Funds.

	 	(i) 	
      none of the subscription funds used for the purchase of
      the Shares (the "Subscription Funds") (A) will represent proceeds of crime
      for the purposes of the Proceeds of Crime (Money Laundering) and
      Terrorist Financing Act (Canada), (B) have been or will be derived
      from or related to any activity that is deemed criminal under the laws of
      Canada, the United States or any other jurisdiction , or (C) are being
      tendered on behalf of a person or entity who has not been identified to
      the Purchaser, and

	 	 	 
	 	(ii) 	
      the Purchaser shall promptly notify the Company if the
      Purchaser discovers that any of the representations in paragraph (i) above
      ceases to be true, and to provide the Company with appropriate information
      in connection therewith; and

	 	(k) 	
      Absence of Certain Representations. No person has made to
      the Purchaser any written or oral
representation:

	 	(i) 	
      that any person will resell or repurchase any of the
      Shares;

	 	 	 
	 	(ii) 	
      that any person will refund the purchase price of any of
      the Shares; or

	 	 	 
	 	(iii) 	
      as to the future price or value of the
  Shares.

	 	(l) 	
      International Purchaser. If the Purchaser is resident
      outside of Canada and the United States, the Purchaser
:

	 	(i) 	
      is knowledgeable of, or has been independently advised as
      to the applicable securities laws of the securities regulatory authorities
      (the "Authorities") having application in the jurisdiction in which the
      Purchaser is resident (the "International Jurisdiction") which would apply
      to the acquisition of the Shares, if any;

8 

	 	(ii) 	
      is purchasing the Shares pursuant to exemptions from the
      prospectus and registration or equivalent requirements under the
      applicable securities laws of the Authorities in the International
      Jurisdiction or, if such is not applicable, the Purchaser is permitted to
      purchase the Shares under the applicable securities laws of the
      Authorities in the International Jurisdiction without the need to rely on
      any exemption;

	 	 	 
	 	(iii) 	
      confirms that the applicable securities laws of the
      Authorities in the International Jurisdiction do not require the Issuer to
      make any filings or seek any approvals of any nature whatsoever from any
      Authority of any kind whatsoever in the International Jurisdiction in
      connection with the issue and sale or resale of the Shares; and

	 	 	 
	 	(iv) 	
      confirms that the purchase of the Shares by the Purchaser
      does not trigger:

	 	(A) 	
      an obligation to prepare and file a registration
      statement, offering memorandum, prospectus, offering circular or similar
      document, or any other report with respect to such purchase in the
      International Jurisdiction; or

	 	 	 
	 	(B) 	
      continuous disclosure reporting obligations of the Issuer
      in the International Jurisdiction; and

	 	(v) 	
      the Purchaser will, if requested by the Issuer, comply
      with such other requirements as the Issuer may reasonably
  require.

                         The
Purchaser acknowledges and agrees that the foregoing representations and
warranties are made by it with the intention that they may be relied upon in
determining its eligibility or (if applicable) the eligibility of others on
whose behalf it is contracting hereunder to purchase the Shares under relevant
securities legislation. The Purchaser further agrees that by accepting delivery
of the Shares on the Closing Date, it shall be representing and warranting that
the foregoing representations and warranties are true and correct as at the
Closing Date with the same force and effect as if they had been made by the
Purchaser at the time of the Closing and that they shall survive the purchase by
the Purchaser of the Shares and shall continue in full force and effect
notwithstanding any subsequent disposition by the Purchaser of the Shares. The
Purchaser undertakes to notify the Company immediately of any change in any
representation, warranty or other information relating to the Purchaser set
forth herein which takes place prior to the Closing Time. 

8.                    
Finder's Fee to Certain Investment Institutions. [Intentionally Deleted.] 

9.                    
Purchaser's Expenses. The Purchaser acknowledges and agrees that except as
otherwise provided herein, all costs and expenses incurred by the Purchaser
(including any fees and disbursements of special counsel retained by the
Purchaser) relating to the purchase of the Shares shall be borne by the
Purchaser. 

10.                   Resale
Restrictions. The Purchaser understands and acknowledges that the Shares will be
subject to certain resale restrictions under applicable Securities Laws and the
Purchaser agrees to comply with such restrictions. The Purchaser also
acknowledges that it has been advised to consult its own legal advisors with
respect to applicable resale restrictions and that it is solely responsible (and
the Company is not in any manner responsible) for complying with such
restrictions. 

                         For
purposes of complying with applicable Securities Laws and National Instrument
45-102 Resale of Securities, as well as Stock Exchange policies, the
Purchaser understands and acknowledges that when issued all the certificates
representing the Shares, as well as all certificates issued in exchange for or
in substitution of the foregoing securities, will bear the following legends:

  "WITHOUT PRIOR WRITTEN APPROVAL OF TSX VENTURE EXCHANGE AND
    COMPLIANCE WITH ALL APPLICABLE SECURITIES LEGISLATION, THE SECURITIES
    REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD, TRANSFERRED, HYPOTHECATED OR
    OTHERWISE TRADED ON OR THROUGH THE FACILITIES OF CANADIAN RESIDENT UNTIL TSX
  VENTURE EXCHANGE OR OTHERWISE IN CANADA OR TO OR FOR THE BENEFIT OF A
  <9>,2014." 

  "UNLESS
  PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT
  TRADE THE SECURITY BEFORE <9>,2014." 

9 

(with the "< >"completed to reflect a date that
is four months plus one day following the Closing Date.) 

14.                   Legal
and Tax Advice. The Purchaser acknowledges and agrees that it is solely
responsible for obtaining its own legal and tax advice as it considers
appropriate in connection with the execution, delivery and performance by it of
this Subscription Agreement and the completion of the transactions contemplated
hereby. 

15.                  
No Statutory Right of Rescission or Damages; Additional Acknowledgements. The
Purchaser acknowledges and agrees that: 

	 	(a) 	
      no securities commission or similar regulatory authority
      has reviewed or passed on the merits of the Shares;

	 	 	 
	 	(b) 	
      there is no government or other insurance covering the
      Shares;

	 	 	 
	 	(c) 	
      there are risks associated with the purchase of the
      Shares;

	 	 	 
	 	(d) 	
      there are restrictions on the purchaser's ability to
      resell the securities and it is the responsibility of the purchaser to
      find out what those restrictions are and to comply with them before
      selling the securities;

	 	 	 
	 	(e) 	
      the issuer has advised the purchaser that the issuer is
      relying on an exemption from the requirements to provide the purchaser
      with a prospectus and to sell securities through a person registered to
      sell securities under the Securities Act and, as a consequence of
      acquiring securities pursuant to this exemption, certain protections,
      rights and remedies provided by the Securities Act, including statutory
      rights of rescission or damages, will not be available to the
    purchaser

	 	 	 
	 	(f) 	
      as a consequence of acquiring the Shares pursuant to
      exemptions from registration and prospectus requirements under the
      Securities Laws, certain protections, rights and remedies provided by the
      Securities Laws, including statutory rights of rescission or damages, will
      not be available to the Purchaser;

	 	 	 
	 	(g) 	
      except for this Subscription Agreement as otherwise set
      forth herein, it has relied solely upon publicly available information
      relating to the Company and not relied upon any oral or written
      representation as to fact or otherwise made by or on behalf of the Company
      except as expressly set forth herein and such publicly available
      information having been delivered to the Purchaser;

	 	 	 
	 	(h) 	
      the Purchaser, or, where the Purchaser is not purchasing
      as principal, each beneficial purchaser, has such knowledge in financial
      and business affairs as to be capable of evaluating the merits and risks
      of its investment and is able to bear the economic risk of loss of its
      investment;

	 	 	 
	 	(i) 	
      the Company may be required to provide to the applicable
      securities regulatory authorities and to the Stock Exchange a list setting
      forth the identities of the beneficial purchaser of the
  Shares;

	 	(j) 	
      notwithstanding that the Purchaser may be purchasing
      Shares as an agent on behalf of an undisclosed principal, the Purchaser
      agrees to provide, on request, particulars as to the identity of such
      undisclosed principal as may be required by the Company in order to comply
      with the foregoing;

	 	(k) 	
      none of the Shares have been or will be registered under
      the U.S. Securities Act or the securities laws of any state and may not be
      offered or sold, directly or indirectly, in the United States to, or for
      the account or benefit of, a U.S. person (as defined in Regulation S),
      which definition includes, but is not limited to, an individual resident
      in the United States and an estate or trust of which any executor or
      administrator or trustee, respectively, is a U.S. person and any
      partnership or company organized or incorporated under the laws of the
      United States unless registered under the U.S. Securities Act and the
      securities laws of all applicable states or unless an exemption from such
      registration is available, and the Company has no obligation or present
      intention of filing a registration statement under the U.S. Securities Act
      in respect of any of the Shares;

	 	(l) 	
      the Purchaser acknowledges and agrees
  that:

10 

	 	(i) 	
      the offer to purchase the Shares was not made to the
      Purchaser in the United States;

	 	 	 
	 	(ii) 	
      this Agreement was delivered to, executed and delivered
      by the Purchaser outside the United States;

	 	 	 
	 	(iii) 	
      the Purchaser is not, and will not be purchasing the
      Shares for the account or benefit of, any U.S. Person or person in the
      United States;

	 	 	 
	 	(iv) 	
      the current structure of this transaction and all
      transactions and activities contemplated hereunder is not a scheme to
      avoid the registration requirements of the 1933 Act;

	 	 	 
	 	(v) 	
      the Purchaser and any person for whose account it is
      acquiring the Shares, if applicable, has no intention to distribute either
      directly or indirectly any of the Securities in the United States, except
      in compliance with the 1933 Act;

	 	 	 
	 	(vi) 	
      if the Purchaser is a corporation, partnership or other
      legal entity incorporated or organized in the United States, the
      Purchaser's affairs are controlled and directed from outside of the United
      States, its purchase of the Securities was not solicited in the United
      States, no part of the transaction which is the subject of this
      Subscription Agreement occurred in the United States, and the Issuer has
      informed the Purchaser that no market for the Securities currently exists
      in the United States; and

	 	 	 
	 	(vii) 	
      the entering into of this Agreement and the transactions
      contemplated hereby will not result in the violation of any of the terms
      and provision of any laws applicable to or constating documents of, the
      Purchaser or of any agreement, written or oral, to which the Purchaser may
      be a part or by which he or she is or may be bound ;
and

	 	(m) 	
      if the Stock Exchange imposes escrow or other resale
      restrictions on the Shares then the Purchaser agrees to be bound by such
      restrictions .

16.                   No
Revocation. The Purchaser agrees that this offer is made for valuable
consideration and may not be withdrawn, cancelled, terminated or revoked by the
Purchaser without the consent of the Company. Further, the Purchaser expressly
waives and releases the Company from all rights of withdrawal or rescission to
which the Purchaser might otherwise be entitled pursuant to the Securities Laws.

17.                   Indemnity.
The Purchaser agrees to indemnify and hold harmless the Company and its
directors, officers, employees, agents, advisers and shareholders from and
against any and all loss, liability, claim, damage and expense (including, but
not limited to, any and all fees, costs and expenses reasonably incurred in
investigating, preparing or defending against any claim, law suit,
administrative proceeding or investigation whether commenced or threatened)
arising out of or based upon any representation or warranty of the Purchaser
contained herein being untrue in any material respect or any breach or failure
by the Purchaser to comply with any covenant or agreement made by the Purchaser
herein. 

18.                   Collection
of and Use of Personal Information. 

	 	(a) 	
      The Purchaser (on its own behalf and, if applicable, on
      behalf of any person for whose benefit the Purchaser is subscribing)
      acknowledges and consents to the fact the Issuer is collecting the
      Purchaser's (and any beneficial purchaser's) personal information for the
      purpose of completing the Purchaser' subscription. The Purchaser (on its
      own behalf and, if applicable, on behalf of any person for whose benefit
      the Purchaser is subscribing) acknowledges and consents to the Issuer
      retaining the personal information for as long as permitted or required by
      applicable law or business practices. The Purchaser (on its own behalf
      and, if applicable, on behalf of any person for whose benefit the
      Purchaser is subscribing) further acknowledges and consents to the fact
      the Issuer may be required by applicable securities laws, stock exchange
      rules, and Investment Industry Regulatory Organization of Canada rules to
      provide regulatory authorities any personal information provided by the
      Purchaser respecting itself (and any beneficial purchaser). The Purchaser
      represents and warrants that it has the authority to provide the consents
      and acknowledgements set out in this paragraph on behalf of all beneficial
      purchaser.

11 

	 	(b) 	
      The Purchaser and disclosed principal, if applicable,
      hereby acknowledges and consents to: (i) the disclosure by the Purchaser
      and the Issuer of Personal Information (defined below) concerning the
      Purchaser to any Securities Commission, or to the Stock Exchange and its
      affiliates, authorized agent, subsidiaries and divisions, if applicable;
      and (ii) the collection, use and disclosure of Personal Information by the
      Stock Exchange for the following purposes (or as otherwise identified by
      the Stock Exchange, from time to time):

	 	(i) 	
      to conduct background checks;

	 	 	 
	 	(ii) 	
      to verify the Personal Information that has been provided
      about the Purchaser;

	 	 	 
	 	(iii) 	
      to consider the suitability of the Purchaser as a holder
      of securities of the Issuer;

	 	 	 
	 	(iv) 	
      to consider the eligibility of the Issuer to list and
      continue to be listed on the Stock Exchange;

	 	 	 
	 	(v) 	
      to provide disclosure to market participants as the
      security holdings of the Issuer's shareholders, and their involvement with
      any other reporting issuers, issuers subject to a cease trade order or
      bankruptcy, and information respecting penalties, sanctions or personal
      bankruptcies, and possible conflicts of interest with the
Issuer;

	 	 	 
	 	(vi) 	
      to detect and prevent fraud;

	 	 	 
	 	(vii) 	
      to conduct enforcement proceedings; and

	 	 	 
	 	(viii) 	
      to perform other investigations as required by and to
      ensure compliance with all applicable rules, policies, rulings and
      regulations of the Stock Exchange, securities legislation and other legal
      and regulatory requirements governing the conduct and protection of the
      public markets in Canada.

	 	(c) 	
      The Purchaser also acknowledges that: (i) the Stock
      Exchange also collects additional Personal Information from other sources,
      including securities regulatory authorities in Canada or elsewhere,
      investigative law enforcement or self-regulatory organizations, and
      regulations service providers to ensure that the purposes set forth above
      can be accomplished; (ii) the Personal Information the Stock Exchange
      collects may also be disclosed to the agencies and organizations referred
      to above or as otherwise permitted or required by law, and they may use it
      in their own investigations for the purposes described above; (iii) the
      Personal Information may be disclosed on the Stock Exchange's website or
      through printed materials published by or pursuant to the direction of the
      Stock Exchange; and (iv) the Stock Exchange may from time to time use
      third parties to process information and provide other administrative
      services, and may share the information with such providers.

	 	 	 
	 	(d) 	
      If the Purchaser is resident in Ontario, the public
      official who can answer questions about the Ontario Securities
      Commission's indirect collection of Personal Information is the
      Administrative Assistant to the Director of Corporate Finance, Ontario
      Securities Commission, Suite 1903, Box 55, 20 Queen Street West, Toronto,
      Ontario, M5H 3S8, Telephone 416-593-8086.

	 	 	 
	 	(e) 	
      Herein, "Personal Information" means any
      information about the Purchaser required to be disclosed to a Securities
      Commission or the Exchange, whether pursuant to a Securities Commission or
      Stock Exchange form or a request made by a Securities Commission or the
      Stock Exchange including the Corporate Placee Registration Form attached
      hereto.

19.                   Modification.
Subject to the terms hereof, neither this Subscription Agreement nor any
provision hereof shall be modified, changed, discharged or terminated except by
an instrument in writing signed by the party against whom any waiver, change,
discharge or termination is sought. 

20.                  
Assignment. The terms and provisions of this Subscription Agreement shall
be binding upon and enure to the benefit of the Purchaser, the Company and their
respective successors and assigns; provided that this Subscription Agreement
shall not be assignable by any party without the prior written consent of the
other party. 

12 

21.                  
Miscellaneous . All representations, warranties, agreements and covenants made
or deemed to be made by the Purchaser herein will survive the execution and
delivery, and acceptance, of this offer and the Closing. 

22.                   Governing
Law. This Subscription Agreement shall be governed by and construed in
accordance with the laws of the Province of British Columbia and the federal
laws of Canada applicable therein. The Purchaser on its own behalf and, if
applicable, on behalf of others for whom it is contracting hereunder, hereby
irrevocably attorns to the exclusive jurisdiction of the courts of the Province
of British Columbia with respect to any matters arising out of this Subscription
Agreement. 

23.                  
Counterpart and Facsimile Subscriptions. This Subscription Agreement may be
signed in counterparts, including counterparts by means of facsimile or scanned
PDF via email transmission, each of which will be deemed an original, but all of
which, taken together, and delivered will constitute one and the same Agreement.
This Subscription Agreement will not be effective as to any party hereto until
such time as this Agreement or a counterpart thereof has been executed and
delivered, by facsimile or otherwise, by each party hereto. 

24.                   Entire
Agreement and Headings. This Subscription Agreement (including the schedules
hereto) contains the entire agreement of the parties hereto relating to the
subject matter hereof and there are no representations, covenants or other
agreements relating to the subject matter hereof except as stated or referred to
herein. This Subscription Agreement may be amended or modified in any respect by
written instrument only. The headings contained herein are for convenience only
and shall not affect the meanings or interpretation hereof. 

26.                   Time
of Essence. Time shall be of the essence of this Subscription Agreement. 

27.                  
Effective Date. This Subscription Agreement is intended to be effective and
binding upon the parties on acceptance by the Company. 

END OF TERMS 

13 

 

SCHEDULE "A" 

FORM 4C 
CORPORATE PLACEE REGISTRATION FORM 

This Form will remain on file with the Exchange and must be
completed if required under section 4(b) of Part II of Form 4B. The corporation,
trust, portfolio manager or other entity (the "Placee") need only file it on one
time basis, and it will be referenced for all subsequent Private Placements in
which it participates. If any of the information provided in this Form changes,
the Placee must notify the Exchange prior to participating in further placements
with Exchange listed Issuers. Ifas a result of the Private Placement, the Placee
becomes an Insider of the Issuer, Insiders of the Placee are reminded that they
must file a Personal Information Form (2A) or, if applicable, Declarations, with
the Exchange. 

	I. 	
      Placee Information:

	 	(a) 	
      Name: Till Capital Ltd.

	 	 	 
	 	(b) 	
      Complete Address : Crawford House, 5 Cedar Avenue,
      Hamilton, HM 11 Bermuda

	 	 	 
	 	(c) 	
      Jurisdiction oflncorporation or Creation:
      Bermuda                                                     

	2. 	(a) 	Is the Placee purchasing
      securities as a portfolio manager: (Yes/No)?
      No                        

	 	(b) 	
      Is the Placee carrying on business as a portfolio manager
      outside of Canada: (Yes/No)?
      No                        

	3. 	
      Ifthe answer to 2(b) above was "Yes", the undersigned
      certifies that:

	 	 	 
		(a) 	
      it is purchasing securities of an Issuer on behalf of
      managed accounts for which it is making the investment decision to
      purchase the securities and has full discretion to purchase or sell
      securities for such accounts without requiring the client's express
      consent to a transaction;

	 	 	 
		(b) 	
      it carries on the business of managing the investment
      portfolios of clients through discretionary authority granted by those
      clients (a "portfolio manager" business) in _______________
      [jurisdiction], and it is permitted by law to carry on a portfolio manager
      business in that jurisdiction;

	 	 	 
		(c) 	
      it was not created solely or primarily for the purpose of
      purchasing securities of the Issuer;

	 	 	 
		(d) 	
      the total asset value of the investment portfolios it
      manages on behalf of clients is not less than $20,000,000; and

	 	 	 
		(e) 	
      it has no reasonable grounds to believe, that any of the
      directors, senior officers and other insiders of the Issuer, and the
      persons that carry on investor relations activities for the Issuer has a
      beneficial interest in any of the managed accounts for which it is
      purchasing.

	4. 	
      Ifthe answer to 2(a). above was "No", please provide the
      names and addresses of Control Persons of the
Placee:

	Name * 	City 	Province or State 	Country 
	 	 	 	 
	 	 	 	 

	 	 
      
	 	 
      
	 	 
      
	 	 
      
	 	 
      
		
      * If the Control Person is not an individual, provide the
      name of the individual that makes the investment decisions on behalf of
      the Control Person.

	 	 
	5. 	
      Acknowledgement - Personal Information and Securities
      Laws

	 	(a) 	
      "Personal lnfonnation" means any information about an
      identifiable individual, and includes information contained in sections 1,
      2 and 4, as applicable, of this Fonn.

The undersigned hereby acknowledges and
agrees that it has obtained the express written consent of each individual to:

	 	(i) 	
      the disclosure of Personal Information by the undersigned
      to the Exchange (as defined in Appendix 68) pursuant to this Form;
    and

	 	 	 
	 	(ii) 	
      the collection, use and discloslll'e of Personal
      lnfonnation by the Exchange for the purposes described in Appendix 68 or
      as otherwise identified by the Exchange, from time to
  time.

	 	(b) 	
      The undersigned acknowledges that it is bound by the
      provisions of applicable Securities Law, including provisions concerning
      the filing of insider reports and reports of
  acquisitions.

(a) Dated and certified (if applicable), acknowledged and agreed, at Hayden, Idaho on April 17, 2014

	 	Till Capital Ltd.
	 	(Name of Purchaser - please print)

    

	:	By:/s/ Timothy P. Leybold
	 	(Authorized Signature)
	 	 
	 	Chief Financial Offier
	 	(Official Capacity - please print)
	 	 
	 	Timothy Leybold
	 	 
	 	(Please print name of individual whose signature appears above)
	 	 	 

Corporate Placee Signature Page (SPD Subscription)

SCHEDULE B 

CONFIRMATION OF PREVIOUSLY FILED CORPORATE PLACEE
REGISTRATION FORM 

TO:                       
 SILVER  PREDATOR CORP. 

      
     In connection with the proposed subscription for
common shares of Silver Predator Corp., the undersigned hereby confirms that the
undersigned has previously filed a Form 4C - Corporate Placee Registration Form
with the TSX Venture Exchange and that the information in such Corporate Placee
Registration Form is accurate and up-to- date as of the date hereof. 

Dated ___________________________________________, 2014. 

	 	 
	 	(Name of Purchaser - please print) 
	 	 
	 	 
	 	(Authorized Signature) 
	 	 
	 	 
	 	(Official Capacity - please print) 
	 	 
	 	 
	 	(Please print name of individual whose
      signature appears above) 

B-l 

SCHEDULE "C" 

ACCREDITED INVESTOR STATUS CERTIFICATE 

TO:                
SILVER PREDATOR CORP. (the "Company") 

            In
connection with the purchase of Shares of the Company (the "Shares") by the
undersigned subscriber or, if applicable, the principal on whose behalf the
undersigned is purchasing as agent (the "Subscriber" for the purposes of this
Schedule "C"), the Subscriber hereby represents, warrants, covenants and
certifies to the Company that: 

1.        The Subscriber is
purchasing or is deemed to be purchasing the Shares as principal for its own
account or complies with the provisions of paragraph 8(d) of the Subscription
Agreement; 

2.        The Subscriber is
an "accredited investor" within the meaning of National Instrument 45-106
entitled "Prospectus and Registration Exemptions" ("NI 45-106") by virtue of
satisfying the indicated criterion as set out in this Schedule "C"; 

3.        The Subscriber was
not created or used solely to purchase or hold securities as an accredited
investor as described in paragraph (m) of the definition of "accredited
investor" in NI45-106; and 

4.        Upon execution of
this Schedule "C" by the Subscriber, this Schedule "C" shall be incorporated
into and form a part of the Subscription Agreement. 

Dated: ______________________________, 2014 

	 	 
	 	Print name of Subscriber 
	 	 
	 	By: Signature 
	 	 
	 	 
	 	Print name of Signatory (if different from
      Subscriber) 
	 	 
	 	 
	 	Title 

IMPORTANT: PLEASE INITIAL THE APPLICABLE PROVISION IN

APPENDIX "A" ON THE NEXT PAGES 

B-1 

APPENDIX "A" 

TO SCHEDULE "C" 

NOTE: 
THE
SUBSCRIBER MUST INITIAL BESIDE THE APPLICABLE PORTION OF THE DEFINITION BELOW.

Accredited Investor - (defined in National Instrument 45-106)
means: 

	_________	(a) 	
      a Canadian financial institution, or a Schedule III bank;
      or 

	 	  	
       

	_________	(b) 	
      the Business Development Bank of Canada incorporated
      under the Business Development Bank of Canada Act (Canada);
      or 

	 	  	
       

	_________	(c) 	
      a subsidiary of any person referred to in paragraphs (a)
      or (b), if the person owns all of the voting securities of the subsidiary,
      except the voting securities required by law to be owned by directors of
      that subsidiary; or 

	 	  	
       

	_________	(d) 	
      a person registered under the securities legislation of a
      jurisdiction of Canada as an adviser or dealer, other than a person
      registered solely as a limited market dealer under one or both of the
      Securities Act (Ontario) or the Securities Act (Newfoundland
      and Labrador); or 

	 	  	
       

	_________	(e) 	
      an individual registered or formerly registered under the
      securities legislation of a jurisdiction of Canada as a representative of
      a person referred to in paragraph (d); or 

	 	  	
       

	_________	(f) 	
      the Government of Canada or a jurisdiction of Canada, or
      any crown corporation, agency or wholly-owned entity of the Government of
      Canada or a jurisdiction of Canada; or 

	 	  	
       

	_________	(g) 	
      a municipality, public board or commission in Canada and
      a metropolitan community, school board, the Comite de gestion de la taxe
      scolaire de l'ile de Montreal or an intermunicipal management board in
      Quebec; or 

	 	  	
       

	_________	(h) 	
      any national, federal, state, provincial, territorial or
      municipal government of or in any foreign jurisdiction, or any agency of
      that government; or 

	 	  	
       

	_________	(i) 	
      a pension fund that is regulated by either the Office of
      the Superintendent of Financial Institutions (Canada) or a pension
      commission or similar regulatory authority of a jurisdiction of Canada; or
      

	 	  	
       

	_________	(j) 	
      an individual who, either alone or with a spouse,
      beneficially owns financial assets having an aggregate realizable value
      that before taxes, but net of any related liabilities, exceeds $1,000,000;
      or 

	 	  	
       

	_________	(k) 	
      an individual whose net income before taxes exceeded
      $200,000 in each of the 2 most recent calendar years or whose net income
      before taxes combined with that of a spouse exceeded $300,000 in each of
      the 2 most recent calendar years and who, in either case, reasonably
      expects to exceed that net income level in the current calendar year; or
      

	 	  	
       

			
      (Note: if individual accredited
      investors wish to purchase through wholly-owned holding companies
      or similar entities, such purchasing entities must qualify under section
      (t) below, which must be initialled.) 

	 	  	
       

	_________	(l) 	
      an individual who, either alone or with a spouse, has net
      assets of at least $5,000,000; or 

B-2 

	_________	(m) 	
      a person, other than an individual or investment fund,
      that has net assets of at least $5,000,000 as shown on its most recently
      prepared financial statements; or

	 	 	 
	_________	(n) 	
      an investment fund that distributes or has distributed
      its securities only to

	 	(i) 	
      a person that is or was an accredited investor at the
      time of the distribution,

	 	 	 
	 	(ii) 	
      a person that acquires or acquired securities in the
      circumstances referred to in sections 2.10 or 2.19 of National Instrument
      45-106, or

	 	 	 
	 	(iii) 	
      a person described in paragraph (i) or (ii) that acquires
      or acquired securities under section 2.18 of National Instrument 45-106;
      or

	_________	(o) 	
      an investment fund that distributes or has distributed
      securities under a prospectus in a jurisdiction of Canada for which the
      regulator or, in Quebec, the securities regulatory authority, has issued a
      receipt; or 

	 	  	     
	_________	(p) 	
      a trust company or trust corporation registered or
      authorized to carry on business under the Trust and Loan Companies Act
      (Canada) or under comparable legislation in a jurisdiction of Canada
      or a foreign jurisdiction, acting on behalf of a fully managed account
      managed by the trust company or trust corporation, as the case may be; or
      

	 	  	     
	_________	(q) 	
       a person acting on behalf of a fully managed
      account managed by that person, if that person

	 	(i) 	
      is registered or authorized to carry on business as an
      adviser or the equivalent under the securities legislation of a
      jurisdiction of Canada or a foreign jurisdiction , and

	 	 	 
	 	(ii) 	
      in Ontario, is purchasing a security that is not a
      security of an investment fund; or

	_________	(r) 	
      a registered charity under the Income Tax Act
      (Canada) that, in regard to the trade, has obtained advice from an
      eligibility adviser or an adviser registered under the securities
      legislation of the jurisdiction of the registered charity to give advice
      on the securities being traded; or 

	 	  	     
	_________	(s) 	
      an entity organized in a foreign jurisdiction that is
      analogous to any of the entities referred to in paragraphs (a) to (d) or
      paragraph (i) in form and function; or 

	 	  	     
	_________	(t) 	
      a person in respect of which all of the owners of
      interests, direct, indirect or beneficial, except the voting securities
      required by law to be owned by directors, are persons that are accredited
      investors (as defined in National Instrument 45-106); or 

	 	  	     
	_________	(u) 	
      an investment fund that is advised by a person registered
      as an adviser or a person that is exempt from registration as an adviser;
      or 

	 	(i) 	
      a person that is recognized or designated by the
      securities regulatory authority or, except in Ontario and Quebec, the
      regulator as an accredited investor.

For the purposes hereof: 

	(a) 	
      "affiliate" means an issuer connected with another issuer
      because

	 	 	 
		(i) 	
      one of them is the subsidiary of the other; or

	 	 	 
		(ii) 	
      each of them is controlled by the same
  person.

B-3 

	(b) 	
      "Canadian financial institution" means

	 	 	 
		(i) 	
      an association governed by the Cooperative Credit
      Associations Act (Canada) or a central cooperative credit society for
      which an order has been made under section 473(1) of that Act,
or

	 	 	 
		(ii) 	
      a bank, loan corporation, trust company, trust
      corporation, insurance company, treasury branch, credit union, caisse
      populaire, financial services cooperative, or league that, in each case,
      is authorized by an enactment of Canada or a jurisdiction of Canada to
      carry on business in Canada or a jurisdiction of
Canada;

	(c) 	
      "consultant" means, for an issuer, a person, other
      than an employee, executive officer, or director of the issuer or of a
      related entity of the issuer, that

	 	 	 
		(i) 	
      is engaged to provide services to the issuer or a related
      entity of the issuer, other than services provided in relation to a
      distribution,

	 	 	 
		(ii) 	
      provides the services under a written contract with the
      issuer or a related entity of the issuer, and

	 	 	 
		(iii) 	
      spends or will spend a significant amount of time and
      attention on the affairs and business of the issuer or a related entity of
      the issuer,

and includes 

	 	(iv) 	
      for an individual consultant, a corporation of which the
      individual consultant is an employee or shareholder, and a partnership of
      which the individual consultant is an employee or partner, and

	 	 	 
	 	(v) 	
      for a consultant that is not an individual, an employee,
      executive officer, or director of the consultant, provided that the
      individual employee, executive officer, or director spends or will spend a
      significant amount of time and attention on the affairs and business of
      the issuer or a related entity of the issuer;

	(d) 	
      "control person" means any person that owns or
      directly or indirectly exercises control or direction over securities of
      an issuer carrying votes which, if exercised, would entitle the first
      person to elect a majority of the directors of the issuer, unless that
      first person holds the voting securities only to secure an
    obligation;

	 	 	 
	(e) 	
      "director" means

	 	 	 
		(i) 	
      a member of the board of directors of a company or an
      individual who performs similar functions for a company, and

	 	 	 
		(ii) 	
      with respect to a person that is not a company, an
      individual who performs functions similar to those of a director of a
      company;

	(f) 	
      "eligibility adviser" means

	 	 	 	 
		(i) 	
      a person that is registered as an investment dealer and
      authorized to give advice with respect to the type of security being
      distributed, and

	 	 	 	 
		(ii) 	
      in Saskatchewan and Manitoba, also means a lawyer who is
      a practicing member in good standing with a law society of a jurisdiction
      of Canada or a public accountant who is a member in good standing of an
      institute or association of chartered accountants, certified general
      accountants or certified management accountants in a jurisdiction of
      Canada provided that the lawyer or public accountant must not

	 	 	 	 
			(A) 	
      have a professional, business or personal relationship
      with the issuer, or any of its directors, executive officer, founders, or
      control persons, and

	 	 	 	 
			(B) 	
      have acted for or been retained personally or otherwise
      as an employee, executive officer, director, associate or partner of a
      person that has acted for or been retained by the issuer or any of its
      directors, executive officers, founders or control persons within the
      previous 12 months;

B-4 

	(g) 	
      "executive officer" means, for an issuer, an individual
      who is

	 	(i) 	
      a chair, vice-chair or president,

	 	 	 
	 	(ii) 	
      a vice-president in charge of a principal business unit,
      division or function including sales, finance or production, or

	 	 	 
	 	(iii) 	
      performing a policy-making function in respect of the
      issuer;

	(h) 	
      "financial assets" means

	 	(i) 	
      cash,

	 	 	 
	 	(ii) 	
      securities, or

	 	 	 
	 	(iii) 	
      a contract of insurance, a deposit or an evidence of a
      deposit that is not a security for the purposes of securities
      legislation;

	(i) 	"foreign jurisdiction" means a country other
      than Canada or a political subdivision of a country other than Canada;
  
	 	 
	(j) 	"founder" means, in respect of an issuer, a
      person who, 

	 	(i) 	
      acting alone, in conjunction, or in concert with one or
      more persons, directly or indirectly, takes the initiative in founding,
      organizing or substantially reorganizing the business of the issuer,
      and

	 	 	 
	 	(ii) 	
      at the time of the trade is actively involved in the
      business of the issuer;

	
      (k) 
	
      "fully managed account" means an account of a client for
      which a person makes the investment decisions if that person has full
      discretion to trade in securities for the account without requiring the
      client's express consent to a transaction; 

	 	 
	(1) 	"investment fund" has the same meaning as in
      National Instrument 81-106 Investment Fund Continuous Disclosure; 
	 	 
	(m) 	"jurisdiction" means a province or territory of
      Canada except when used in the term foreign jurisdiction; 
	 	 
	(n) 	"local jurisdiction" means the jurisdiction in
      which the Canadian securities regulatory authority is situate; 
	 	 
	(o) 	"non-redeemable investment fund" has the same
      meaning as in National Instrument 21-101 Marketplace Operation; 
	 	 
	(p) 	"person" includes 

	 	(i) 	
      an individual,

	 	 	 
	 	(ii) 	
      a corporation,

	 	 	 
	 	(iii) 	
      a partnership, trust, fund and an association, syndicate,
      organization or other organized group of persons, whether incorporated or
      not, and

	 	 	 
	 	(iv) 	
      an individual or other person in that person's capacity
      as a trustee, executor, administrator or personal or other legal
      representative;

	(q) 	
      "regulator" means, for the local jurisdiction, the
      Executive Director or Director or la Commission des valeurs mobilieres du
      Quebec as defined under securities legislation of the local
      jurisdiction;

	 	 
	(r) 	
      "related liabilities" means

	 	(i) 	
      liabilities incurred or assumed for the purpose of
      financing the acquisition or ownership of financial assets,
  or

B-5 

	 	(ii) 	
      liabilities that are secured by financial
  assets;

	(s) 	
      "Schedule III bank" means an authorized
      foreign bank named in Schedule III of the Bank Act
  (Canada);

	 	 	 
	(t) 	
      "spouse" means, an individual who,

	 	 	 
		(i) 	
      is married to another individual and is not living
      separate and apart within the meaning of the Divorce Act (Canada),
      from the other individual,

	 	 	 
		(ii) 	
      is living with another individual in a marriage-like
      relationship, including a marriage-like relationship between individuals
      of the same gender, or

	 	 	 
		(iii) 	
      in Alberta, is an individual referred to in paragraph (i)
      or (ii), or is an adult interdependent partner within the meaning of the
      Adult Interdependent Relationships Act
(Alberta);

	(u) 	
      "subsidiary" means an issuer that is
      controlled directly or indirectly by another issuer and includes a
      subsidiary of that subsidiary.

All monetary references are in Canadian Dollars. 

B-6 

SCHEDULE "D" 

 

PAYMENT INSTRUCTIONS 

Deliver a certified cheque or bank draft before the Closing Date
in same day freely transferable Canadian funds at par in Vancouver, British
Columbia to: 

SILVER PREDATOR CORP. 
800 - 1199
West Hastings Street 
Vancouver, British Columbia, Canada V6E 3T5

Attention: Nancy La Couvee, Corporate Secretary 
Tel: 778-968-6941

or 

Send funds by wire transfer according to instructions on Page
C-2 (following this page).

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}]]