Document:

Exhibit 10.26 - Form of Warrant dated April 12, 2007

    Exhibit
      10.26

     

    UNLESS
      PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT
      TRADE THE SECURITY BEFORE THE DATE THAT IS 4 MONTHS AND A DAY AFTER THE LATER
      OF
      (i) APRIL 12, 2007, AND (ii) THE DATE THE ISSUER BECAME A REPORTING ISSUER
      IN
      ANY PROVINCE OR TERRITORY OF CANADA.

     

    THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN OFFERED AND SOLD IN AN
      “OFFSHORE TRANSACTION” IN RELIANCE UPON REGULATION S AS PROMULGATED BY THE
      SECURITIES AND EXCHANGE COMMISSION. ACCORDINGLY, THE SECURITIES REPRESENTED
      BY
      THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES
      ACT
      OF 1933 (THE “SECURITIES ACT”) AND MAY NOT BE TRANSFERRED OTHER THAN IN
      ACCORDANCE WITH REGULATION S, PURSUANT TO REGISTRATION UNDER THE SECURITIES
      ACT,
      OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
      ACT, THE AVAILABILITY OF WHICH IS TO BE ESTABLISHED TO THE SATISFACTION OF
      THE
      CORPORATION. THE SECURITIES REPRESENTED BY THIS CERTIFICATE CANNOT BE THE
      SUBJECT OF HEDGING TRANSACTIONS UNLESS SUCH TRANSACTIONS ARE CONDUCTED IN
      COMPLIANCE WITH THE SECURITIES ACT.

     

    UNLESS
      NOTICE IS OTHERWISE PROVIDED, THE WARRANTS EVIDENCED HEREBY ARE EXERCISABLE
      ON
      OR BEFORE 5:00 PM (TORONTO TIME) ON OCTOBER 12, 2008,
      AFTER WHICH TIME THE WARRANTS EVIDENCED HEREBY SHALL BE DEEMED TO BE VOID AND
      OF
      NO FURTHER FORCE AND EFFECT.

     

    2007
      SERIES I WARRANTS TO PURCHASE COMMON SHARES

     

    OF

     

    FIRSTGOLD
      CORP.

     

    
      	
               

               

               

               

              Certificate
                Number 2007 I-«Warrant_No»

               

            	
              Number
                of warrants 

               

              represented
                by this 

               

              certificate
                - «Warrants»

               

            

    

    THIS
      CERTIFIES THAT,
      for
      value received, ·
      of
«Reg_Address_1», «Reg_Address_2», «Reg_City», «Reg_Province», «Reg_Postal» is
      entitled, at any time prior to the Expiry Time, to purchase, at the Exercise
      Price, one Common Share in the capital of the Corporation, for each whole
      Warrant evidenced hereby, by surrendering to the Corporation, 3108 Gabbert
      Dr.,
      Suite 210, Cameron Park, CA 95682 Attention: Scott Dockter,
      or such
      other address as may be notified in writing by the Corporation,
      this
      Warrant, together with a Subscription Form, duly completed and executed, and
      cash or a certified cheque, money order or bank draft in lawful money of the
      United States of America payable to or to the order of the Corporation for
      the
      amount equal to the Exercise Price per Common Share multiplied by the number
      of
      Common Shares subscribed for, on and subject to the terms and conditions set
      forth below.

     

    
      
        Exhibit
          10.26

        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    Nothing
      contained herein shall confer any right upon the Holder to subscribe for or
      purchase any shares of the Corporation at any time after the Expiry Time, and
      from and after the Expiry Time these Warrants and all rights hereunder shall
      be
      void and of no value.

     

    Definitions

     

    In
      this
      Warrant, including the preamble, unless there is something in the subject matter
      or context inconsistent therewith, the following expressions shall have the
      following meanings namely:

     

    “Business
      Day”
means
      a
      day which is not a Saturday, Sunday, or a civic or statutory holiday in the
      City
      of Toronto, Ontario;

     

    “Common
      Shares”
means
      the shares of common stock of the Corporation as such shares were constituted
      on
      the date hereof, as the same may be reorganized, reclassified or redesignated
      pursuant to any of the events set out in Section 12 hereof;

     

    “Corporation”
means
      Firstgold Corp., a corporation formed under the laws of Delaware and its
      successors and assigns;

     

    “Current
      Market Price”
at
      any
      date, means the weighted average of the sale prices per Common Share at which
      the Common Shares have traded on the Exchange, or, if the Common Shares in
      respect of which a determination of Current Market Price is being made are
      not
      listed thereon, on such stock exchange on which such shares are listed as may
      be
      selected for such purpose by the directors, or, if the Common Shares are not
      listed on any stock exchange, then on the over-the-counter market, for any
      20
      consecutive trading days selected by the Corporation commencing not later than
      45 trading days and ending no later than 5 trading days before such date;
      provided, however, if such Common Shares are not traded during such 45 day
      period for at least 20 consecutive trading days, the simple average of the
      following prices established for each of 20 consecutive trading days selected
      by
      the Corporation commencing not later than 45 trading days before such
      date:

     

    the
      average of the bid and ask prices for each day on which there was no trading,
      and

     

    the
      closing price of the Common Shares for each day that there was
      trading,

     

    or
      in the
      event that at any date the Common Shares are not listed on any exchange or
      on
      the over-the-counter market, the Current Market Price shall be as determined
      by
      the directors or such firm of independent chartered accountants as may be
      selected by the directors acting reasonably and in good faith in their sole
      discretion; for these purposes, the weighted average price for any period shall
      be determined by dividing the aggregate sale prices during such period by the
      total number of Common Shares sold during such period;

     

    
      
        Exhibit
          10.26

        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    “Equity
      Shares”
means
      the Common Shares and any shares of any other class or series of the Corporation
      which may from time to time be authorized for issue if by their terms such
      shares confer on the holders hereof the right to participate in the distribution
      of assets upon the voluntary or involuntary liquidation, dissolution or winding
      up of the Corporation beyond a fixed sum or a fixed sum plus accrued
      dividends;

     

    “Exchange”
means
      the Toronto Stock Exchange; 

     

    “Exercise
      Price”
means
      US$0.65 per Common Share, unless such price shall have been adjusted in
      accordance with the provisions of Section 12, in which case it shall mean the
      adjusted price in effect at such time;

     

    “Expiry
      Time”
means
      5:00 in the afternoon, Toronto time, on October 12, ;2008;

     

    “Form
      of Transfer”
means
      the form of transfer annexed hereto as Schedule “B”;

     

    “Holder”
means
      the registered holder of this Warrant;

     

    “person”
means
      an individual, corporation, partnership, unincorporated syndicate,
      unincorporated organization, trust, trustee, executor, administrator, or other
      legal representative, or any group or combination thereof;

     

    “Qualification
      Condition”
means
      either: (i) a registration statement qualifying the resale of the 2007 Series
      I
      Warrants and the Warrant Shares issuable thereunder has been declared effective
      by the United States Securities and Exchange Commission; or (ii) the Common
      Shares (including the Warrant Shares) have been listed on the Toronto Stock
      Exchange or the TSX Venture Exchange;

     

    “Subscription
      Form”
means
      the form of subscription annexed hereto as Schedule “A”; 

     

    “this
      Warrant”,
      “Warrant”,
      “herein”,
      “hereby”,
      “hereof”,
      “hereto”,
      “hereunder”
and
      similar expressions mean or refer to this Warrant and any deed or instrument
      supplemental or ancillary thereto and any schedules hereto or thereto and not
      to
      any particular article, section, subsection, clause, subclause or other portion
      hereof; and

     

    “Warrant
      Shares”
      means
      the Common Shares issuable at any time upon the exercise of this Warrant.

     

    Expiry
      Time

     

    After
      the
      Expiry Time, all rights under any Warrants evidenced hereby, in respect of
      which
      the right of subscription and purchase herein provided for shall not theretofore
      have been exercised, shall wholly cease and terminate and such Warrants shall
      be
      void and of no value or effect.

     

    
      
        Exhibit
          10.26

        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    Exercise
      Procedure

     

    The
      Holder may exercise the right of purchase herein provided for by surrendering
      or
      delivering to the Corporation at the address set forth on the face page hereof
      or
      such
      other address as may be notified in writing by the Corporation, prior
      to
      the Expiry Time:

     

    
      	 	
              (a)

            	
              this
                Warrant, with the Subscription Form duly completed and executed by
                the
                Holder or its legal representative or attorney, duly appointed by
                an
                instrument in writing in form and manner satisfactory to the Corporation,
                and

            

    

     

    
      	 	
              (b)

            	
              cash
                or a certified cheque, money order or bank draft payable to or to
                the
                order of the Corporation in lawful money of the United States of
                America
                in an amount equal to the Exercise Price multiplied by the number
                of
                Common Shares for which subscription is being
                made.

            

    

     

    Any
      Warrant and cash, certified cheque, money order or bank draft referred to in
      the
      foregoing clauses (a) and (b) shall be deemed to be surrendered only upon actual
      receipt by the Corporation.

     

    This
      Warrant is exchangeable, upon the surrender hereof by the Holder, for new
      warrants of like tenor, and bearing the same legends, representing, in the
      aggregate, the right to subscribe for the number of Common Shares which may
      be
      subscribed for hereunder.

     

    Entitlement
      to Certificate

     

    Upon
      such
      delivery and payment as aforesaid, the Corporation shall cause to be issued
      to
      the Holder hereof the Common Shares subscribed for not exceeding those which
      such Holder is entitled to purchase pursuant to this Warrant and the Holder
      hereof shall become a shareholder of the Corporation in respect of such shares
      with effect from the date of such delivery and payment and shall be entitled
      to
      delivery of a certificate or certificates evidencing such shares and the
      Corporation shall cause such certificate or certificates to be mailed to the
      Holder hereof at the address or addresses specified in such subscription within
      five (5) business days of such delivery and payment.

     

    Register
      of Warrantholders and Transfer of Warrants

     

    The
      Corporation shall cause a register to be kept in which shall be entered the
      names and addresses of all holders of the Warrants and the number of Warrants
      held by them. No transfer of Warrants shall be valid unless made by the Holder
      or its executors, administrators or other legal representatives or its attorney
      duly appointed by an instrument in writing in form and execution satisfactory
      to
      the Corporation upon compliance with such reasonable requirements as the
      Corporation may prescribe, including compliance with all applicable securities
      legislation, and recorded on the register of holders of Warrants maintained
      by
      the Corporation, nor until stamp or governmental or other charges arising by
      reason of such transfer have been paid. 

     

    
      
        Exhibit
          10.26

        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    The
      transferee of a Warrant shall, after a Form of Transfer is duly completed and
      the Warrant is lodged with the Corporation and upon compliance with all other
      reasonable requirements of the Corporation or law, be entitled to have its
      name
      entered on the register as the owner of such Warrant, free from all equities
      or
      rights of set-off or counterclaim between the Corporation and the transferor
      or
      any previous holder of such Warrant, save in respect of equities of which the
      Corporation is required to take notice by statute or by order of a court of
      competent jurisdiction. The Corporation may treat the registered holder of
      any
      Warrant certificate as the absolute owner of the Warrants represented thereby
      for all purposes, and the Corporation shall not be affected by any notice or
      knowledge to the contrary except where the Corporation is required to take
      notice by statute or by order of a court of competent jurisdiction.

     

    Partial
      Exercise

     

    The
      Holder may subscribe for and purchase a number of Common Shares less than the
      number the Holder is entitled to purchase pursuant to this Warrant. In the
      event
      of any such subscription and purchase prior to the Expiry Time, the Holder
      shall
      in addition be entitled to receive, without charge, a new Warrant certificate
      in
      respect of the balance of the Common Shares of which he was entitled to purchase
      pursuant to this certificate and which were then not purchased.

     

    No
      Fractional Shares

     

    Notwithstanding
      any adjustments provided for in Section 12 hereof or otherwise, the Corporation
      shall not be required upon the exercise of any Warrants, to issue fractional
      Common Shares in satisfaction of its obligations hereunder. Where a fractional
      Common Share would, but for this Section 7, have been issued upon exercise
      of a
      Warrant, in lieu thereof, the holder of this Warrant shall receive the number
      of
      shares rounded up or down to the nearest whole share.

     

    Not
      a Shareholder

     

    Nothing
      in this certificate or in the holding of the Warrants evidenced hereby shall
      be
      construed as conferring upon the Holder any right or interest whatsoever as
      a
      shareholder of the Corporation.

     

    No
      Obligation to Purchase

     

    Nothing
      herein contained or done pursuant hereto shall obligate the Holder to purchase
      or pay for or the Corporation to issue any shares except those shares in respect
      of which the Holder shall have exercised its right to purchase hereunder in
      the
      manner provided herein.

     

    Ranking
      of Warrants

     

    All
      2007
      Series I warrants shall rank pari
      passu,
      notwithstanding the actual date of the issue thereof.

     

    
      
        Exhibit
          10.26

        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    Covenants

     

    The
      Corporation covenants and agrees that:

     

    so
      long
      as any Warrants evidenced hereby remain outstanding, it shall reserve and there
      shall remain unissued out of its authorized capital a sufficient number of
      Common Shares to satisfy the right of purchase herein provided for should the
      Holder determine to exercise its rights in respect of all the Common Shares
      for
      the time being called for by such outstanding Warrants; and

     

    all
      Common Shares which shall be issued upon the exercise of the right to purchase
      herein provided for, upon payment therefor of the amount at which such Common
      Shares may at the time be purchased pursuant to the provisions hereof, shall
      be
      issued as fully paid and non-assessable Common Shares and the holders thereof
      shall not be liable to the Corporation or to its creditors in respect
      thereof.

     

    The
      Corporation shall make all requisite filings under the applicable
      securities legislation.

     

    The
      Corporation shall use all reasonable efforts to preserve and maintain its
      corporate existence.

     

    Adjustment
      to Exercise Price

     

    The
      Exercise Price in effect at any time is subject to adjustment from time to
      time
      in the events and in the manner provided as follows:

     

    If
      and
      whenever at any time after the date hereof the Corporation:

     

    issues
      Common Shares or securities exchangeable for or convertible into Common Shares
      to all or substantially all the holders of the Common Shares as a stock
      dividend; or

     

    makes
      a
      distribution on its outstanding Common Shares payable in Common Shares or
      securities exchangeable for or convertible into Common Shares; or

     

    subdivides
      its outstanding Common Shares into a greater number of shares; or

     

    consolidates
      its outstanding Common Shares into a smaller number of shares;

     

    (any
      of
      such events being called a “Common
      Share Reorganization”),
      then
      the Exercise Price will be adjusted effective immediately after the effective
      date or record date for the happening of a Common Share Reorganization, as
      the
      case may be, at which the holders of Common Shares are determined for the
      purpose of the Common Share Reorganization by multiplying the Exercise Price
      in
      effect immediately prior to such effective date or record date by a fraction,
      the numerator of which is the number of Common Shares outstanding on such
      effective date or record date before giving effect to such Common Share
      Reorganization and the denominator of which is the number of Common Shares
      outstanding immediately after giving effect to such Common Share Reorganization
      (including, in the case where securities exchangeable for or convertible into
      Common Shares are distributed, the number of Common Shares that would have
      been
      outstanding had all such securities been exchanged for or converted into Common
      Shares on such effective date or record date).

     

    
      
        Exhibit
          10.26

        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    If
      and
      whenever at any time after the date hereof the Corporation fixes a record date
      for the issue of rights, options or warrants to the holders of all or
      substantially all of its outstanding Common Shares under which such holders
      are
      entitled to subscribe for or purchase Common Shares or securities exchangeable
      for or convertible into Common Shares, where:

     

    the
      right
      to subscribe for or purchase Common Shares, or the right to exchange securities
      for or convert securities into Common Shares, expires not more than 45 days
      after the date of such issue (the period from the record date to the date of
      expiry being herein in this Section 12 called the “Rights
      Period”),
      and

     

    the
      cost
      per Common Share during the Rights Period (inclusive of any cost of acquisition
      of securities exchangeable for or convertible into Common Shares in addition
      to
      any direct cost of Common Shares) (herein in this Section 12 called the
“Per
      Share Cost”)
      is
      less than 95% of the Current Market Price of the Common Shares on the record
      date, 

     

    (any
      of
      such events being called a “Rights
      Offering”),
      then
      the Exercise Price will be adjusted effective immediately after the end of
      the
      Rights Period to a price determined by multiplying the Exercise Price in effect
      immediately prior to the end of the Rights Period by a fraction:

     

    the
      numerator of which is the aggregate of:

     

    the
      number of Common Shares outstanding as of the record date for the Rights
      Offering; and

     

    a
      number
      determined by dividing the product of the Per Share Cost and:

     

    where
      the
      event giving rise to the application of this subsection 12(b) was the issue
      of
      rights, options or warrants to the holders of Common Shares under which such
      holders are entitled to subscribe for or purchase additional Common Shares,
      the
      number of Common Shares so subscribed for or purchased during the Rights Period,
      or

     

    
      
        Exhibit
          10.26

        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    where
      the
      event giving rise to the application of this subsection 12(b) was the issue
      of
      rights, options or warrants to the holders of Common Shares under which such
      holders are entitled to subscribe for or purchase securities exchangeable for
      or
      convertible into Common Shares, the number of Common Shares for which those
      securities so subscribed for or purchased during the Rights Period could have
      been exchanged or into which they could have been converted during the Rights
      Period,

     

    by
      the
      Current Market Price of the Common Shares as of the record date for the Rights
      Offering; and

     

    the
      denominator of which is:

     

    in
      the
      case described in subparagraph 12(b)(ii)(A)(2)(I), the number of Common Shares
      outstanding, or

     

    in
      the
      case described in subparagraph 12(b)(ii)(A)(2)(II), the number of Common Shares
      that would be outstanding if all the Common Shares described in subparagraph
      12(b)(ii)(A)(2)(II) had been issued,

     

    as
      at the
      end of the Rights Period.

     

    Any
      Common Shares owned by or held for the account of the Corporation or any
      subsidiary or affiliate (as defined in the Securities
      Act
      (Ontario)) of the Corporation will be deemed not to be outstanding for the
      purpose of any such computation.

     

    If
      by the
      terms of the rights, options or warrants referred to in this Section 12, there
      is more than one purchase, conversion or exchange price per Common Share, the
      aggregate price of the total number of additional Common Shares offered for
      subscription or purchase, or the aggregate conversion or exchange price of
      the
      convertible securities so offered, will be calculated for purposes of the
      adjustment on the basis of:

     

    the
      lowest purchase, conversion or exchange price per Common Share, as the case
      may
      be, if such price is applicable to all Common Shares which are subject to the
      rights, options or warrants, and

     

    the
      average purchase, conversion or exchange price per Common Share, as the case
      may
      be, if the applicable price is determined by reference to the number of Common
      Shares acquired.

     

    To
      the
      extent that any adjustment in the Exercise Price occurs pursuant to this Section
      12 as a result of the fixing by the Corporation of a record date for the
      distribution of rights, options or warrants referred to in this Section 12,
      the
      Exercise Price will be readjusted immediately after the expiration of any
      relevant exchange, conversion or exercise right to the Exercise Price which
      would then be in effect based upon the number of Common Shares actually issued
      and remaining issuable after such expiration, and will be further readjusted
      in
      such manner upon expiration of any further such right.

     

    
      
        Exhibit
          10.26

        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    If
      the
      Holder has exercised this Warrant in accordance herewith during the period
      beginning immediately after the record date for a Rights Offering and ending
      on
      the last day of the Rights Period therefor, the Holder will, in addition to
      the
      Common Shares to which it is otherwise entitled upon such exercise, be entitled
      to that number of additional Common Shares equal to the result obtained when
      the
      Exercise Price in effect immediately prior to the end of such Rights Offering
      pursuant to this subsection is multiplied by the number of Common Shares
      received upon the exercise of this Warrant during such period, and the resulting
      product is divided by the Exercise Price as adjusted for such Rights Offering
      pursuant to this subsection; provided that the provisions of Section 7 will
      be
      applicable to any fractional interest in a Common Share to which such Holder
      might otherwise be entitled. Such additional Common Shares will be deemed to
      have been issued to the Holder immediately following the end of the Rights
      Period and a certificate for such additional Common Shares will be delivered
      to
      such Holder within ten (10) Business Days following the end of the Rights
      Period.

     

    If
      and
      whenever at any time after the date hereof the Corporation fixes a record date
      for the issue or the distribution to the holders of all or substantially all
      its
      Common Shares of:

     

    shares
      of
      the Corporation of any class other than Common Shares;

     

    rights,
      options or warrants to acquire shares or securities exchangeable for or
      convertible into shares or property or other assets of the
      Corporation;

     

    evidence
      of indebtedness; or

     

    any
      property or other assets,

     

    and
      if
      such issuance or distribution does not constitute (A) a Common Share
      Reorganization, (B) a Rights Offering or (C) the issue of rights, options or
      warrants to the holders of all or substantially all of its outstanding Common
      Shares under which such holders are entitled to subscribe for or purchase Common
      Shares or securities exchangeable for or convertible into Common Shares,
      where:

     

    
      	 	
              (x)

            	
              the
                right to subscribe for or purchase Common Shares, or the right to
                exchange
                securities for or convert securities into Common Shares, expires
                not more
                than 45 days after the date of such issue,
                and

            

    

     

    
      	 	
              (y)
                

            	
              the
                cost per Common Share during the Rights Period, inclusive of the
                Per Share
                Cost, is 95% or more than the Current Market Price of the Common
                Shares on
                the record date

            

    

     

     

    
      
        Exhibit
          10.26

        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    (any
      of
      such non-excluded events being called a “Special
      Distribution”),
      the
      Exercise Price will be adjusted effective immediately after such record date
      to
      a price determined by multiplying the Exercise Price in effect on such record
      date by a fraction:

     

    the
      numerator of which is:

     

    the
      product of the number of Common Shares outstanding on such record date and
      the
      Current Market Price of the Common Shares on such record date; less

     

    the
      aggregate fair market value (as determined by action by the directors of the
      Corporation, subject, however, to the prior written consent of the Exchange,
      where required) to the holders of the Common Shares of such securities or
      property or other assets so issued or distributed in the Special Distribution;
      and

     

    the
      denominator of which is the number of Common Shares outstanding on such record
      date multiplied by the Current Market Price of the Common Shares on such record
      date.

     

    Any
      Common Shares owned by or held for the account of the Corporation or any
      subsidiary or affiliate (as defined in the Securities
      Act
      (Ontario)) of the Corporation will be deemed not to be outstanding for the
      purpose of any such computation.

     

    If
      and
      whenever at any time after the date hereof there is a Common Share
      Reorganization, a Rights Offering, a Special Distribution, a reclassification
      or
      redesignation of the Common Shares outstanding at any time or change of the
      Common Shares into other shares or into other securities (other than a Common
      Share Reorganization), or a consolidation, amalgamation or merger of the
      Corporation with or into any other corporation or other entity (other than
      a
      consolidation, amalgamation or merger which does not result in any
      reclassification or redesignation of the outstanding Common Shares or a change
      of the Common Shares into other shares), or a transfer of the undertaking or
      assets of the Corporation as an entirety or substantially as an entirety to
      another corporation or other entity (any of such events being called a
“Capital
      Reorganization”),
      the
      Holder, upon exercising this Warrant after the effective date of such Capital
      Reorganization, will be entitled to receive in lieu of the number of Common
      Shares to which such Holder was theretofore entitled upon such exercise, the
      aggregate number of shares, other securities or other property which such Holder
      would have been entitled to receive as a result of such Capital Reorganization
      if, on the effective date thereof, the Holder had been the registered holder
      of
      the number of Common Shares to which such Holder was theretofore entitled upon
      exercise of this Warrant. If determined appropriate by action of the directors
      of the Corporation, appropriate adjustments will be made as a result of any
      such
      Capital Reorganization in the application of the provisions set forth in this
      Section 12 with respect to the rights and interests thereafter of the Holder
      to
      the end that the provisions set forth in this Section 12 will thereafter
      correspondingly be made applicable as nearly as may reasonably be in relation
      to
      any shares, other securities or other property thereafter deliverable upon
      the
      exercise hereof. Any such adjustment must be made by and set forth in an
      amendment to this Warrant approved by action by the directors of the Corporation
      and will for all purposes be conclusively deemed to be an appropriate
      adjustment.

     

    
      
        Exhibit
          10.26

        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    If
      at any
      time after the date hereof and prior to the Expiry Time any adjustment in the
      Exercise Price shall occur as a result of:

     

    an
      event
      referred to in subsection 12(a);

     

    the
      fixing by the Corporation of a record date for an event referred to in
      subsection 12(b); or

     

    the
      fixing by the Corporation of a record date for an event referred to in
      subsection 12(c) if such event constitutes the issue or distribution to the
      holders of all or substantially all of its outstanding Common Shares of (A)
      Equity Shares, or (B) securities exchangeable for or convertible into Equity
      Shares at an exchange or conversion price per Equity Shares less than the
      Current Market Price on such record date or (C) rights, options or warrants
      to
      acquire Equity Shares at an exercise, exchange or conversion price per Equity
      Share less than the Current Market Price on such record date, 

     

    then,
      where required, the number of Common Shares purchasable upon the subsequent
      exercise of this Warrant shall be simultaneously adjusted by multiplying the
      number of Common Shares purchasable upon the exercise of this Warrant
      immediately prior to such adjustment by a fraction which shall be the reciprocal
      of the fraction employed in the adjustment of the Exercise Price. To the extent
      any adjustment in subscription rights occurs pursuant to this subsection 12(e)
      as a result of a distribution of exchangeable or convertible securities other
      than Equity Shares referred to in subsection 12(a) or as a result of the fixing
      by the Corporation of a record date for the distribution of rights, options
      or
      warrants referred to in subsection 12(b), the number of Common Shares
      purchasable upon exercise of this Warrant shall be readjusted immediately after
      the expiration of any relevant exchange, conversion or exercise right to the
      number of Common Shares which would be purchasable based upon the number of
      Common Shares actually issued and remaining issuable immediately after such
      expiration, and shall be further readjusted in such manner upon expiration
      of
      any further such right. To the extent that any adjustment in subscription rights
      occurs pursuant to this subsection 12(e) as a result of the fixing by the
      Corporation of a record date for the distribution of exchangeable or convertible
      securities other than Equity Shares or rights, options or warrants referred
      to
      in subsection 12(c), the number of Common Shares purchasable upon exercise
      of
      this Warrant shall be readjusted immediately after the expiration of any
      relevant exchange, conversion or exercise right to the number which would be
      purchasable pursuant to this subsection 12(e) if the fair market value of such
      securities or such rights, options or warrants had been determined for purposes
      of the adjustment pursuant to this subsection 12(e) on the basis of the number
      of Equity Shares issued and remaining issuable immediately after such
      expiration, and shall be further readjusted in such manner upon expiration
      of
      any further such right.

     

    
      
        Exhibit
          10.26

        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    Rules
      Regarding Calculation of Adjustment of Exercise Price

     

    The
      adjustments provided for in Section 12 are cumulative and will, in the case
      of
      adjustments to the Exercise Price, be computed to the nearest one-tenth of
      one
      cent and will be made successively whenever an event referred to therein occurs,
      subject to the following subsections of this Section 13.

     

    No
      adjustment in the Exercise Price is required to be made unless such adjustment
      would result in a change of at least 1% in the prevailing Exercise Price;
      provided, however, that any adjustments which, except for the provisions of
      this
      subsection, would otherwise have been required to be made, will be carried
      forward and taken into account in any subsequent adjustments.

     

    No
      adjustment in the Exercise Price will be made in respect of any event described
      in Section 12, other than the events referred to in clauses 12(a)(iii) and
      (iv),
      if the Holder is entitled to participate in such event on the same terms,
mutatis
      mutandis,
      as if
      the Holder had exercised this Warrant prior to or on the effective date or
      record date of such event.

     

    No
      adjustment in the Exercise Price will be made under Section 12 in respect of
      the
      issue from time to time of Common Shares issuable from time to time as dividends
      paid in the ordinary course to holders of Common Shares who exercise an option
      or election to receive substantially equivalent dividends in Common Shares
      in
      lieu of receiving a cash dividend, and any such issue will be deemed not to
      be a
      Common Share Reorganization.

     

    If
      at any
      time a dispute arises with respect to adjustments provided for in Section 12,
      such dispute will be conclusively determined by the auditors of the Corporation
      or if they are unable or unwilling to act, by such other firm of independent
      chartered accountants as may be selected by action by the directors of the
      Corporation and any such determination, where required, will be binding upon
      the
      Corporation, the Holder and shareholders of the Corporation. The Corporation
      will provide such auditors or accountants with access to all necessary records
      of the Corporation.

     

    In
      case
      the Corporation after the date of issuance of this Warrant takes any action
      affecting the Common Shares, other than action described in Section 12, which
      in
      the opinion of the board of directors of the Corporation would materially affect
      the rights of the Holder, the Exercise Price will be adjusted in such manner,
      if
      any, and at such time, by action by the directors of the Corporation but subject
      in all cases to the prior written consent of the Exchange, where required,
      and
      any necessary regulatory approval. Failure of the taking of action by the
      directors of the Corporation so as to provide for an adjustment on or prior
      to
      the effective date of any action by the Corporation affecting the Common Shares
      will be conclusive evidence that the board of directors of the Corporation
      has
      determined that it is equitable to make no adjustment in the
      circumstances.

     

    
      
        Exhibit
          10.26

        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    If
      the
      Corporation sets a record date to determine the holders of the Common Shares
      for
      the purpose of entitling them to receive any dividend or distribution or sets
      a
      record date to take any other action and, thereafter and before the distribution
      to such shareholders of any such dividend or distribution or the taking of
      any
      other action, decides not to implement its plan to pay or deliver such dividend
      or distribution or take such other action, then no adjustment in the Exercise
      Price will be required by reason of the setting of such record
      date.

     

    In
      the
      absence of a resolution of the directors of the Corporation fixing a record
      date
      for a Special Distribution or Rights Offering, the Corporation will be deemed
      to
      have fixed as the record date therefor the date on which the Special
      Distribution or Rights Offering is effected.

     

    As
      a
      condition precedent to the taking of any action which would require any
      adjustment to this Warrant, including the Exercise Price, the Corporation must
      take any corporate action which may be necessary in order that the Corporation
      have unissued and reserved in its authorized capital and may validly and legally
      issue as fully paid and non-assessable all the shares or other securities which
      the Holder is entitled to receive on the full exercise thereof in accordance
      with the provisions hereof.

     

    The
      Corporation will from time to time, immediately after the occurrence of any
      event which requires an adjustment or readjustment as provided in Section 12,
      forthwith give notice to the Holder specifying the event requiring such
      adjustment or readjustment and the results thereof, including the resulting
      Exercise Price.

     

    The
      Corporation covenants to and in favour of the Holder that so long as this
      Warrant remains outstanding, it will give notice to the Holder of its intention
      to fix a record date for any event referred to in subsections 12(a), (b) or
      (c)
      (other than the subdivision or consolidation of the Common Shares) which may
      give rise to an adjustment in the Exercise Price, and, in each case, such notice
      must specify the particulars of such event and the record date and the effective
      date for such event; provided that the Corporation is only required to specify
      in such notice such particulars of such event as have been fixed and determined
      on the date on which such notice is given. Such notice shall be given not less
      than 14 days prior to each such applicable record date or effective
      date.

     

    Failure
      to meet Qualification Condition

     

    In
      the
      event the Corporation does not satisfy the Qualification Condition on or before
      October 15, 2007, then each Warrant represented hereby that remains unexercised
      as of October 15, 2007 shall thereafter entitle the Holder to receive upon
      exercise 1.1 Common Shares, rather than one Share, for the Exercise
      Price.

     

    
      
        Exhibit
          10.26

        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    Consolidation
      and Amalgamation

     

    The
      Corporation shall not enter into any transaction whereby all or substantially
      all of its undertaking, property and assets would become the property of any
      other corporation (herein called a “successor
      corporation”)
      whether by way of reorganization, reconstruction, consolidation, amalgamation,
      merger, transfer, sale, disposition or otherwise, unless prior to or
      contemporaneously with the consummation of such transaction the Corporation
      and
      the successor corporation shall have executed such instruments and done such
      things as, in the opinion of counsel to the Holder, are necessary or advisable
      to establish that upon the consummation of such transaction:

     

    the
      successor corporation will have assumed all the covenants and obligations of
      the
      Corporation under this Warrant, and

     

    the
      Warrant will be a valid and binding obligation of the successor corporation
      entitling the Holder, as against the successor corporation, to all the rights
      of
      the Holder under this Warrant.

     

    Whenever
      the conditions of subsection 15(a) shall have been duly observed and performed
      the successor corporation shall possess, and from time to time may exercise,
      each and every right and power of the Corporation under this Warrant in the
      name
      of the Corporation or otherwise and any act or proceeding by any provision
      hereof required to be done or performed by any director or officer of the
      Corporation may be done and performed with like force and effect by the like
      directors or officers of the successor corporation.

     

    Representation
      and Warranty of Corporation

     

    The
      Corporation hereby represents and warrants with and to the Holder that the
      Corporation is duly authorized and has the corporate and lawful power and
      authority to create and issue this Warrant and the Common Shares issuable upon
      the exercise hereof and perform its obligations hereunder and that this Warrant
      represents a valid, legal and binding obligation of the Corporation enforceable
      in accordance with its terms.

     

    United
      States Securities Law Matters

     

    Neither
      this Warrant nor the Warrant Shares have been registered under the U.S.
      Securities Act, or any state securities laws.

     

    By
      subscribing for this Warrant the Holder is deemed to have represented to the
      Corporation that this Warrant and, if applicable, the Warrant Shares
      (collectively, the "Securities") have been acquired for investment for the
      Holder’s own account, not as a nominee agent, and not with a view to the resale
      or distribution of any part thereof to any U.S. Person within the meaning of
      Regulation S under the U.S. Securities Act, the Holder has no present intention
      of selling, granting any participation in, or otherwise distributing the same
      to
      any U.S. Person and the Holder does not have any contract, undertaking,
      agreement or arrangement with any U.S. Person to sell, transfer or grant
      participations to such person or to any third person residing in the United
      States, with respect to any of the Securities.

     

    
      
        Exhibit
          10.26

        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    The
      Securities shall be deemed restricted securities under the U.S. Securities
      Act
      and may not be resold in the United States unless they are registered under
      the
      Act and any applicable state securities law, or in the opinion of counsel in
      form and substance reasonably satisfactory to the Corporation, an exemption
      from
      such registration is available.

     

    Rule
      144
      promulgated under the U.S. Securities Act provides, in substance, that
      (1) after one year from the date restricted securities have been purchased
      and fully paid for, a holder may transfer restricted securities in the United
      States provided certain conditions are met, e.g., certain public information
      is
      available about the Corporation, and specific limitations on the amount of
      shares which can be sold within certain periods and the manner in which such
      shares must be sold are complied with, and (2) after two years from the
      date the Securities have been purchased and fully paid for, holders who are
      not
“affiliates” of the Corporation may sell restricted securities in the United
      States without satisfying such conditions.

     

    If
      the requirements of Rule 144 are not met, registration under the U.S. Securities
      Act, compliance with Regulation A, or some other registration exemption will
      be
      required for any disposition of the Securities in the United States The United
      States Securities and Exchange Commission has expressed its opinion that persons
      proposing to sell restricted securities other than in a registered offering
      or
      other than pursuant to Rule 144 will have a substantial burden of proof in
      establishing that an exemption from registration is available for such offers
      or
      sales in the United States and such persons and the brokers who participate
      in
      the transactions do so at their own risk.

     

    If
      Share Transfer Books Closed

     

    The
      Corporation shall not be required to deliver certificates for Common Shares
      while the share transfer books of the Corporation are properly closed, prior
      to
      any meeting of shareholders or for the payment of dividends or for any other
      purpose and in the event of the surrender of any Warrant in accordance with
      the
      provisions hereof and the making of any subscription and payment for the Common
      Shares called for thereby during any such period delivery of certificates for
      Common Shares may be postponed for not exceeding five (5) Business Days after
      the date of the re-opening of said share transfer books. Provided however that
      any such postponement of delivery of certificates shall be without prejudice
      to
      the right of the Holder, if the Holder has surrendered the same and made payment
      during such period, to receive such certificates for the Common Shares called
      for after the share transfer books have been re-opened.

     

    
      
        Exhibit
          10.26

        
        

      

      
        15

        
          

        

      

      
        
        

      

    

    Protection
      of Shareholders, Officers and Directors

     

    Subject
      as herein provided, all or any of the rights conferred upon the Holder may
      be
      enforced by the Holder by appropriate legal proceedings. No recourse under
      or
      upon any obligation, covenant or agreement herein contained or in any of the
      Warrants represented hereby shall be taken against any shareholder, officer
      or
      director of the Corporation, either directly or through the Corporation, it
      being expressly agreed and declared that the obligations under the Warrants
      evidenced hereby, are solely corporate obligations of the Corporation and that
      no personal liability whatever shall attach to or be incurred by the
      shareholders, officers, or directors of the Corporation or any of them in
      respect thereof, any and all rights and claims against every such shareholder,
      officer or director being hereby expressly waived as a condition of and as
      a
      consideration for the issue of the Warrants evidenced hereby.

     

    Lost
      Certificate

     

    If
      the
      Warrant certificate evidencing the Warrants issued hereby becomes stolen, lost,
      mutilated or destroyed the Corporation may, on such terms, as it may in its
      discretion impose, respectively issue and countersign a new warrant of like
      denomination, tenor and date as the certificate so stolen, lost mutilated or
      destroyed.

     

    Governing
      Law

     

    The
      corporate laws of the State of Delaware shall govern all issues concerning
      the
      relative rights of the Corporation and its stockholders. All other questions
      concerning the construction, validity, enforcement and interpretation of this
      Warrant shall be governed by the internal laws of the State of California,
      without giving effect to any choice of law or conflict of law provision or
      rule
      (whether of the State of California or any other jurisdictions) that would
      cause
      the application of the laws of any jurisdictions other than the State of
      California.

     

    Severability

     

    If
      any
      one or more of the provisions or parts thereof contained in this Warrant should
      be or become invalid, illegal or unenforceable in any respect in any
      jurisdiction, the remaining provisions or parts thereof contained herein shall
      be and shall be conclusively deemed to be, as to such jurisdiction, severable
      therefrom and:

     

    the
      validity, legality or enforceability of such remaining provisions or parts
      thereof shall not in any way be affected or impaired by the severance of the
      provisions or parts thereof severed; and

     

    the
      invalidity, illegality or unenforceability of any provision or part thereof
      contained in this Warrant in any jurisdiction shall not affect or impair such
      provision or part thereof or any other provisions of this Warrant in any other
      jurisdiction.

     

    
      
        Exhibit
          10.26

        
        

      

      
        16

        
          

        

      

      
        
        

      

    

    Headings

     

    The
      headings of the articles, sections, subsections and clauses of this Warrant
      have
      been inserted for convenience and reference only and do not define, limit,
      alter
      or enlarge the meaning of any provision of this Warrant.

     

    Numbering
      of Articles, etc.

     

    Unless
      otherwise stated, a reference herein to a numbered or lettered article, section,
      subsection, clause, subclause or schedule refers to the article, section,
      subsection, clause, subclause or schedule bearing that number or letter in
      this
      Warrant.

     

    Gender

     

    Whenever
      used in this Warrant, words importing the singular number only shall include
      the
      plural, and vice versa, and words importing the masculine gender shall include
      the feminine gender.

     

    Day
      not a Business Day

     

    In
      the
      event that any day on or before which any action is required to be taken
      hereunder is not a Business Day, then such action shall be required to be taken
      on or before the requisite time on the next succeeding day that is a Business
      Day. If the payment of any amount is deferred for any period, then such period
      shall be included for purposes of the computation of any interest payable
      hereunder.

     

    Computation
      of Time Period

     

    Except
      to
      the extent otherwise provided herein, in the computation of a period of time
      from a specified date to a later specified date, the word “from” means “from and
      including” and the words “to” and “until” each mean “to but
      excluding”.

     

    Binding
      Effect

     

    This
      Warrant and all of its provisions shall enure to the benefit of the Holder
      and
      his heirs, executors, administrators, legal personal representatives, permitted
      assigns and successors and shall be binding upon the Corporation and its
      successors and permitted assigns.

     

    Notice

     

    Any
      notice, document or communication required or permitted by this Warrant to
      be
      given by a party hereto shall be in writing and is sufficiently given if
      delivered personally, or if sent by prepaid registered mail, or if transmitted
      by any form of recorded telecommunication tested prior to transmission, to
      such
      party addressed as follows:

     

    to
      the
      Holder, in the register to be maintained pursuant to Section 5 hereof;
      and

     

    to
      the
      Corporation at:

     

    
      
        Exhibit
          10.26

        
        

      

      
        17

        
          

        

      

      
        
        

      

    

    3108
      Gabbert Dr.

    Suite
      210

    Cameron
      Park, CA 95682

    Attention:
      Scott Dockter

    Telecopier: (530)
      677-7626

     

    Notice
      so
      mailed shall be deemed to have been given on the third (3rd)
      Business Day after deposit in a post office or public letter box. Neither party
      shall mail any notice, request or other communication hereunder during any
      period in which applicable postal workers are on strike or if such strike is
      imminent and may reasonably be anticipated to affect the normal delivery of
      mail. Notice transmitted by a form of recorded telecommunication or delivered
      personally shall be deemed given on the day of transmission or personal
      delivery, as the case may be. Any party may from time to time notify the other
      in the manner provided herein of any change of address which thereafter, until
      change by like notice, shall be the address of such party for all purposes
      hereof.

     

    Time
      of Essence

     

    Time
      shall be of the essence hereof.

     

    IN
      WITNESS WHEREOF
      the
      Corporation has caused this Warrant certificate to be signed by its duly
      authorized officer as of this _______ day of April, 2007.

     

    
      	 	 	 
	 	FIRSTGOLD
              CORP.
	 
 	 
 	 
 
	 	Per:	 
	 	
              

              Authorized
                Signing Officer

            
	 	 

    

    

    
      
        
        

        Exhibit
          10.26

        
        

      

      
        18

        
          

        

      

      
        
        

        
        

      

    

    SCHEDULE
      “A”

     

    SUBSCRIPTION
      FORM

     

    TO: FIRSTGOLD
      CORP.

     

    3108
      Gabbert Dr.

    Suite
      210

    Cameron
      Park, CA 95682

     

    The
      undersigned holder of the within Warrant certificate hereby irrevocably
      subscribes for                          
      Common
      Shares of Firstgold
      Corp.
      (the
“Corporation”)
      pursuant to the within Warrant certificate at the Exercise Price per share
      specified in the said Warrant certificate and encloses herewith cash or a
      certified cheque, money order or bank draft payable to the order of the
      Corporation in payment of the subscription price therefor. Capitalized terms
      used herein have the meanings set forth in the within Warrant
      certificate.

     

    The
      undersigned hereby acknowledges that the following legends will be placed on
      the
      certificates representing the Common Shares being acquired if the Warrants
      are
      exercised prior to expiry of the hold periods applicable to the
      Warrants:

     

    UNLESS
      PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT
      TRADE THE SECURITY BEFORE THE DATE THAT IS 4 MONTHS AND A DAY AFTER THE LATER
      OF
      (i) APRIL 12, 2007, AND (ii) THE DATE THE ISSUER BECAME A REPORTING ISSUER
      IN
      ANY PROVINCE OR TERRITORY OF CANADA. 

     

    THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN OFFERED AND SOLD IN AN
      “OFFSHORE TRANSACTION” IN RELIANCE UPON REGULATION S AS PROMULGATED BY THE
      SECURITIES AND EXCHANGE COMMISSION. ACCORDINGLY, THE SECURITIES REPRESENTED
      BY
      THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933
      (THE
“SECURITIES ACT”) AND MAY NOT BE TRANSFERRED OTHER THAN IN ACCORDANCE WITH
      REGULATION S, PURSUANT TO REGISTRATION UNDER THE SECURITIES ACT, OR PURSUANT
      TO
      AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT, THE
      AVAILABILITY OF WHICH IS TO BE ESTABLISHED TO THE SATISFACTION OF THE COMPANY.
      THE SECURITIES REPRESENTED BY THIS CERTIFICATE CANNOT BE THE SUBJECT OF HEDGING
      TRANSACTIONS UNLESS SUCH TRANSACTIONS ARE CONDUCTED IN COMPLIANCE WITH THE
      SECURITIES ACT.

     

    
      
        Exhibit
          10.26

        
        

      

      
        19

        
          

        

      

      
        
        

      

    

     

    The
      undersigned hereby certifies that the undersigned is not a U.S. Person or a
      person in the United States, and is not acquiring any of the Common Shares
      issuable upon the exercise of the Warrants for the account or benefit of a
      U.S.
      Person or a person in the United States. For purposes hereof “United States” and
“U.S. Person” shall have the meanings given to such terms in Regulation S under
      the United States Securities Act of 1933, as amended.

     

    DATED
      this
      ____ day
      of
      __________,
      200__.

     

    
      	 	Name:	 
	 	Signature:	 
	 	Address:	
               

               

            

    

     

    
      	
              o  
                

            	
              Please check box if these Common
                Share
                certificates are to be delivered at the office where this Warrant
                certificate is surrendered, failing which the Common Shares certificates
                will be mailed to the subscriber at the address set out
                above.

            

    

     

    If
      any Warrants represented by this certificate are
      not being exercised, a new Warrant certificate will be issued and delivered
      with
      the Common Share certificates.

    
      
        
           

        

        Exhibit
          10.26

        
        

      

      
        20

        
          

        

      

      
        
        

        
        

      

    

    SCHEDULE
      “B”

     

    Form
      of Transfer

     

    THE
      WARRANTS REPRESENTED BY THIS CERTIFICATE MAY NOT BE TRANSFERRED
OTHER
      THAN IN ACCORDANCE WITH REGULATION S PROMULGATED UNDER THE UNITED STATES
      SECURITIES ACT OF 1933 (THE “SECURITIES ACT”), PURSUANT TO REGISTRATION UNDER
      THE SECURITIES ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION
      UNDER THE SECURITIES ACT, THE AVAILABILITY OF WHICH IS TO BE ESTABLISHED TO
      THE
      SATISFACTION OF THE CORPORATION.

     

    FOR
      VALUE RECEIVED, the
      undersigned hereby sells, assigns and transfers unto (name)
      ___________________ (the
      “Transferee”),
      of ______________________________________________
      (residential
      address)
      _____________ Warrants
      of Firstgold
      Corp.
      (the
“Corporation”)
      registered in the name of the undersigned on the records of the Corporation
      represented by the within certificate, and irrevocably appoints the Secretary
      of
      the Corporation as the attorney of the undersigned to transfer the said
      securities on the books or register of transfer, with full power of
      substitution.

     

    The
      undersigned hereby certifies that the transfer of these securities is not being
      made to, and the offer of these securities was not made to, and the person
      named
      above is not, a person in the United States or a U.S. person (as such terms
      are
      defined in Regulation S under the United States Securities Act of
      1933) unless
      an
      effective U.S. registration statement covering these securities is in place
      or a
      U.S. exemption from registration is available.

     

    DATED
      the
        
      day of
                                ,
      200    .

     

    
      	 	 	 
	
              Signature
                Guaranteed

               

            	 	
              (Signature
                of Warrant Holder, to be the same as appears on the face of this
                Warrant
                Certificate)

               

            

    

     

     

    Exhibit
      10.26

    21Promissory Note for Nano Holdings International, Inc. for 4/4/2007

     

    
      
        

      

    EXHIBIT
      10.9

    

    NOTE
      HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT 

    OF
      1933, AS AMENDED, AND IS TRANSFERABLE ONLY UPON THE 

    CONDITIONS
      SPECIFIED HEREIN.

    

    PROMISSORY
      NOTE

     

           

    
      	 US  $10,000   	
               April
                4, 2007

            

    

    

    FOR
      VALUE RECEIVED,
      the
      undersigned, Nano
      Holdings International, Inc.,
      which
      has a business address of 1640 Terrance Way, Walnut Creek, California 94597
      ("Maker"), hereby promises to pay to the order of Jenadosa
      Holdings Limited,
      P.O.
      Box HM 279, The Armoury Building, 2nd Floor, 37 Reid Street, Hamilton HM AX,
      Bermuda ("Payee"), the principal sum of Ten-Thousand Dollars ($10,000), in
      lawful money in United States of America, which shall be legal tender, bearing
      interest and payable as provided herein. This Promissory Note (“Note”)
      memorializes the terms of a loan originally made by the Payee to the Maker
      on
      April 4, 2007, and as such this Note has an effective date of April 4, 2007
      (the
“Effective Date”).

    

    Interest
      on the unpaid balance of this Note from the Effective Date of the Note, until
      such Note is paid in full, shall bear interest at the rate of 10% per annum.
      Interest will be computed on the basis of a 360-day year. All principal and
      accrued interest payable under this Note shall be due and payable on June 30,
      2008.

    

    Any
      repayment amounts not paid within fifteen (15) business days of Payee’s demand
      for repayment shall bear interest at the rate of 15% per annum until paid.
      

    

    If
      any
      payment of principal or interest on this Note shall become due on a Saturday,
      Sunday or any other day on which national banks are not open for business,
      such
      payment shall be made on the next succeeding business day.

    

     

    This
      Note
      shall be binding upon and inure to the benefit of the Payee named herein and
      Payee’s respective successors and assigns. Each holder of this Note, by
      accepting the same, agrees to and shall be bound by all of the provisions of
      this Note. Payee may assign this Note or any of its rights, interests or
      obligations to this Note without the prior written approval of Maker.

    

    No
      provision of this Note shall alter or impair the obligation of Maker to pay
      the
      principal of and interest on this Note at the times, places and rates, and
      in
      the coin or currency, herein prescribed. This Note may be repaid by the Maker
      at
      any time.

    

    Notwithstanding
      anything to the contrary in this Note or any other agreement entered into in
      connection herewith, whether now existing or hereafter arising and whether
      written or oral, it is agreed that the aggregate of all interest and any other
      charges constituting interest, or adjudicated as constituting interest, and
      contracted for, chargeable or receivable under this Note or otherwise in
      connection with this loan transaction, shall under no circumstances exceed
      the
      Maximum Rate provided by law. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      In
        the
        event the maturity of this Note is accelerated by reason of an Event of Default
        under this Note, any other agreement entered into in connection herewith
        or
        therewith, or by voluntary prepayment by Maker or otherwise, then earned
        interest may never include more than the Maximum Rate, computed from the
        dates
        of each advance of the loan proceeds outstanding until payment. If from any
        circumstance any holder of this Note shall ever receive interest or any other
        charges constituting interest, or adjudicated as constituting interest, the
        amount, if any, which would exceed the Maximum Rate shall be applied to the
        reduction of the principal amount owing on this Note, and not to the
        payment of interest; or if such excessive interest exceeds the unpaid balance
        of
        principal hereof, the amount of such excessive interest that exceeds the
        unpaid
        balance of principal hereof shall be refunded to Maker. In determining whether
        or not the interest paid or payable exceeds the Maximum Rate, to the extent
        permitted by applicable law (i) any nonprincipal payment shall be characterized
        as an expense, fee or premium rather than as interest; and (ii) all interest
        at
        any time contracted for, charged, received or preserved in connection herewith
        shall be amortized, prorated, allocated and spread in equal parts during
        the
        period of the full stated term of this Note. The term "Maximum Rate" shall
        mean
        the maximum rate of interest allowed by applicable federal or state
        law.

    

    

    Except
      as
      provided herein, Maker and any sureties, guarantors and endorsers of this Note
      jointly and severally waive demand, presentment, notice of nonpayment or
      dishonor, notice of intent to accelerate, notice of acceleration, diligence
      in
      collecting, grace, notice and protest, and consent to all extensions without
      notice for any period or periods of time and partial payments, before or after
      maturity, without prejudice to the holder. The holder shall similarly have
      the
      right to deal in any way, at any time, with one or more of the foregoing parties
      without notice to any other party, and to grant any such party any extensions
      of
      time for payment of any of said indebtedness, or to grant any other indulgences
      or forbearance whatsoever, without notice to any other party and without in
      any
      way affecting the personal liability of any party hereunder. If any efforts
      are
      made to collect or enforce this Note or any installment due hereunder, the
      undersigned agrees to pay all collection costs and fees, including reasonable
      attorney's fees.

    

    This
      Note
      shall be construed and enforced under and in accordance with the laws of the
      State of Texas.

     

    No
      failure on the part of any party to enforce any provisions of this Note will
      act
      as a waiver of the right to enforce that provision. A photocopy of this Note
      shall be effective as an original for all purposes.

     

    IN
      WITNESS WHEREOF,
      Maker
      has duly executed this Note as of the day and year first above written, with
      an
      Effective Date as provided above.

    

    

    Nano
      Holdings International, Inc.

     

    

    /s/
      David Rector

    David
      Rector

    Chief
      Executive Officer and President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}]]