Document:

Passport Potash, Inc.: Exhibit 10.19 - Filed by newsfilecorp.com

AMENDMENT TO 
OPTION AGREEMENT 

            THIS
AMENDMENT TO OPTION AGREEMENT (this “Amendment”) is entered into this 4th day of
December, 2009, by and between TWIN BUTTES RANCH, LLC, an Arizona limited
liability company (“Optionor”), and PASSPORT METALS, INC., a Quebec registered
corporation (“Optionee”). 

RECITALS 

            A.       
Optionor and Optionee have entered into an Option Agreement, dated August 28,
2009 (“Option Agreement”), pursuant to which Optionor granted the option to
purchase certain real property described therein to Optionee. 

            B.       
Capitalized terms used herein and not otherwise defined herein shall have the
meanings given to such terms in the Option Agreement. 

      
     NOW, THEREFORE, in consideration of the promises
and covenants contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties agree
as follows: 

            1.       
Review Termination Date. Optionor and Optionee acknowledge that certain
letter correspondence from Olsen-Smith, Ltd., to Passport Metals, Inc. (Tim
Henneberry), whereby the Review Termination Date was extended until December 4,
2009 (“Letter Amendment”), and Optionor and Optionee hereby ratify the terms of
said Letter Amendment and confirm the extension of the Review Termination Date
until December 4, 2009. 

            2.       
Lease Agreement. Concurrent with the execution of this Amendment,
Optionor and Optionee shall execute that certain Mining Lease attached hereto as
Exhibit “A” (“Lease”), and incorporated herein by this reference, which Optionor
and Optionee agree satisfies the terms of Section 11 of the Option Agreement.

            3.       
Optionee Approval of Title Commitment and Review Period. Optionee
represents and acknowledges that it has completed its review of the Title
Commitment and the Property as provided under Sections 7 and 8, respectively, of
the Option Agreement and by execution hereof provides written notice to Escrow
Agent of Optionee’s approval of (i) the Title Commitment pursuant to Section 7
and (ii) the results of Optionee’s Review as required under said Section 8.
Accordingly, Optionee shall take the necessary steps to immediately deliver to
Escrow Agent the Initial Option Payment of $50,000.00 and the reimbursement for
Optionor’s attorney fees in the amount of $10,000.00 as required under the terms
of the Option Agreement, which amounts shall be immediately released by Escrow
Agent to Optionor and shall be non-refundable to Optionee in accordance with the
terms of the Option Agreement. 

            4.       
Counterparts. This Amendment may be executed in counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one and the same Amendment. 

            5.       
Facsimile Signatures. This Amendment may be executed by either or all
parties by facsimile signature, and any such facsimile signature shall be deemed
an original signature and Escrow Agent is hereby authorized and instructed to
rely thereon. 

            6.       
Effect of Amendment. In the event of any inconsistencies between this
Amendment and the Option Agreement, the terms of this Amendment shall govern.
Except as provided for herein, all other terms and conditions of the Option
Agreement shall remain unchanged and the parties hereto reaffirm the terms and
conditions of such Option Agreement. 

      
     IN WITNESS WHEREOF, the parties hereto have
executed this Amendment as of the date first above written. 

	OPTIONOR: 	OPTIONEE: 
	  	  
	TWIN BUTTES RANCH, LLC, an 	PASSPORT METALS, INC., a 
	Arizona limited liability company 	Quebec registered corporation

	By: 	/s/
      Michael R. Fitzgerald 	 	By: 	SEE COUNTERPART 
	  	MICHAEL R. FITZGERALD, 	 	  	Its: 
	  	Manager 	 	  	  
	  	  	 	  	  
	  	  	 	By: 	  
	  	  	 	  	Its: 

2 

IN WITNESS WHEREOF, the parties hereto have executed this
Amendment as of the date first above written. 

	OPTIONOR: 	OPTIONEE: 
	  	  
	TWIN BUTTES RANCH, LLC, an 	PASSPORT METALS, INC., a 
	Arizona limited liability company 	Quebec registered corporation
  

	By: 	SEE
      COUNTERPART 	 	By: 	/s/ Richard Hunter 
	  	MICHAEL R. FITZGERALD, 	 	  	Its: 
      Director                                                                     
      
	  	Manager 	 	  	 
	  	  	 	  	 
	  	  	 	By: 	  
	  	  	 	  	Its: ____________________________________

2 

Exhibit “A” 

Mining Lease 

 

 

 

(SEE ATTACHMENT) 

 

 

MINING LEASE 

            THIS
MINING LEASE (“Lease”) is made and entered into as of the
4th day of December, 2009 

BETWEEN: 

  
    
      
        TWIN BUTTES RANCH, LLC, an Arizona limited liability
          company, having an address at Post Office Box 447, Holbrook, Arizona, 86025 

        (“Twin Buttes”) 

      

    

  

AND: 

  
    
      
        PASSPORT METALS INC., a company incorporated under the
          laws of Quebec, and having a business office situated at 608 — 1199 West Pender
          Street, Vancouver, BC V6E 2R1 

        (“Passport”) 

      

    

  

            WHEREAS,
Twin Buttes is the owner of and has the exclusive right to deal with certain
property (the “Mining Property”) situated in Navajo County, Arizona, more
particularly described in Schedule A; and

            WHEREAS,
Passport desires to lease the Mining Property from Twin Buttes for the purpose
of prospecting and exploring the Property and conducting such other tests as may
be necessary to determine the existence of pot ash in connection with Seller’s
due diligence under that certain Option Agreement, dated August 27, 2009,
between Twin Buttes, as Optionor, and Passport, as Optionee (the “Option
Agreement”) 

           
NOW THEREFORE Twin Buttes and Passport AGREE as follows: 

PART 1 

INTERPRETATION 

Definitions 

1.1                   
The following terms, wherever used in this Lease, have the meanings set forth
below: 

- 2 - 

(a)        “Date of
Beginning of Operations” means the date when commercial drilling operations
begin on or under the Mining Property, Passport agreeing to notify Twin Buttes
of that date within 15 days after the Date of Beginning of Operations; 

(b)        “Mining
Property” means the property described in Schedule A; 

(c)        “Term” means
the period of time referred to and described in §3.1; 

Interpretation 

1.2                   
In this Lease, except as otherwise expressly provided or as the context
otherwise requires, 

(a)        “this Lease” means
this Lease as from time to time supplemented or amended by one or more
agreements entered into pursuant to the applicable provisions of this Lease,

(b)        a reference to a
Part is to a Part of this Lease, and the symbol § followed by a number or some
combination of numbers and letters refers to the section, paragraph,
subparagraph, clause or subclause of this Lease so designated, 

(c)        headings are solely
for convenience of reference and are not intended to be complete or accurate
descriptions of content or to be guides to interpretation of this Lease or any
part of it, 

(d)        the word
“including”, when following a general statement or term, is not to be construed
as limiting the general statement or term to any specific item or matter set
forth or to similar items or matters, but rather as permitting the general
statement or term to refer also to all other items or matters that could
reasonably fall within its broadest possible scope, 

(e)        a reference to
currency means United States currency, 

(f)        a reference to a
statute includes all regulations made thereunder, all amendments to the statute
or regulations in force from time to time, and every statute or regulation that
supplements or supersedes such statute or regulations, 

(g)        a reference to an
entity includes any successor to that entity, 

(h)        a word importing the
masculine gender includes the feminine and neuter, a word in the singular
includes the plural, a word importing a corporate entity includes an individual,
and vice versa, and 

(i)        a reference to
“approval”, “authorization” or “consent” means written approval, authorization
or consent.

- 3 - 

PART 2 

TWIN BUTTES’S COVENANTS AS TO TITLE 

2.1                   
Twin Buttes covenants to Passport that 

(a)      
 Twin Buttes has good title to the Mining Property as set forth in that
certain Commitment for Title Insurance issued by First American Title Insurance
Company, with an Effective Date of August 27, 2009, in connection with the
Option Agreement (“Title Commitment”), 

(b)        the Mining Property
is free from all encumbrances, except as set forth in the Title Commitment, and

(c)        Twin Buttes has the
right to lease the Mining Property and to grant the rights given to Passport in
this Lease. 

PART 3 

TERM 

Term 

3.1                   
This Lease will have a Term of approximately four (4) years beginning on the
date of this Lease and ending on August 28, 2013, unless sooner terminated (i)
as herein provided, or (ii) as provided for in the Option Agreement. 

PART 4 

GRANT OF LEASE 

Grant 

4.1                   
Except as specifically provided, Twin Buttes leases to Passport, for the Term
and subject to the conditions provided in this Lease, all the right, title and
interest of Twin Buttes in and to the Mining Property including the surface and
subsurface rights thereof, all ores, minerals and mineral rights, and all right,
title and interest which may be acquired by or for Twin Buttes in or pertaining
to the Mining Property or any part of it during the Term subject to pre-existing
rights to certain minerals on certain sections of the Mining Property as
outlined in Schedule A, it being acknowledged by Passport that the lease granted
hereunder is a non-exclusive lease and is expressly subject to Twin Buttes use
of the Mining Property in a manner consistent with Twin Buttes historical
activities on the Mining Property, or as may otherwise be necessary in
connection with Twin Buttes ownership of the Mining Property.

Notwithstanding anything contained herein to the contrary, it
is the intent of the parties that the lease granted hereunder be used solely for
the purpose of Passport’s further review of the Mining Property (in a manner similar to that provided for in the Option
Agreement) in order to determine the existence of pot ash and the economic
feasibility of the purchase and development of the Mining Property by Passport,
and not for the purpose of harvesting any ores, minerals or metals, including
pot ash, for sale or generation of revenue by Passport and no ores, minerals or
metals shall be harvested for such purpose. In no event shall the activities
conducted on the Mining Property by Passport, or its agents, constitute waste or
adversely affect the fair market value or marketability of the Mining Property.

- 4 - 

Quiet Enjoyment 

4.2                   
Subject to the provisions of this Lease and Twin Buttes continued use of the
Mining Property as provided for in §4.1, during the Term, Passport will have
quiet enjoyment of the Mining Property. 

Taxes 

4.3                   
Twin Buttes shall pay the real property taxes levied upon the Mining Property
during the term of the Lease. Passport shall pay all other taxes imposed by any
governmental agency or authority in connection with Passport’s occupation or use
of the Mining Property in addition to any taxes and assessments whatsoever
levied or assessed against its personal property situated upon the Mining
Property. 

Relationship Between Parties 

4.4                   
Twin Buttes and Passport acknowledge and agree that the relationship between the
parties is that of an independent contractor. As such, Passport is individually
responsible for any and all taxes, including FICA, FUTA, and unemployment taxes,
worker’s compensation coverage, and other liabilities incurred as an independent
contractor. 

PART 5 

RIGHTS OF PASSPORT 

5.1                   
Passport will be entitled to enter into and on the Mining Property throughout
the Term to explore for, develop, mine, remove, treat and produce all ores,
minerals and metals which are or may be found therein or thereon; provided,
however, that such ores, minerals and metals may only be mined, removed, treated
and produced in de minimus amounts, solely for the purpose of determining the
saturation and existence of such ores, minerals and metals and in no event shall
Passport be permitted to sell any such ores, minerals or metals. 

5.2                   
Passport may, in its sole discretion make any use or uses of the Mining Property
consistent with the purposes described in §5.1, including the construction of
roads subject to the prior approval of Twin Buttes, which approval shall not be
unreasonably withheld. 

- 5 - 

PART 6 

OPTION AGREEMENT 

Option Payments 

6.1                   
As a condition to the grant of this Lease, Passport shall pay the option
payments due under the Option Agreement and keep all terms of the Option
Agreement in good standing. 

6.2                   
Twin Buttes and Passport acknowledge and agree that a default under the Option
Agreement shall be default under this Lease, and a default under this Lease
shall be a default under the Option Agreement. 

PART 7 

PASSPORT’S COVENANTS WITH TWIN BUTTES 

7.1                   
Passport will, upon execution and delivery of this Lease, begin drilling
operations on the Mining Property as soon as possible. 

7.2                   
These drilling operations will include, as effectively and as speedily as
practical, exploring the Mining Property according to the best modern methods of
good practice and the proper development and maintenance of the Mining
Property.

Compliance with Laws 

7.3                   
Passport will conduct all exploration, development and mining operations in, on
and under the Mining Property in a careful manner in accordance with good mining
practice, and in compliance with all applicable legislation and, without
limiting the generality of the foregoing, Passport will, on termination of this
Lease, leave the Mining Property in a safe condition with all openings
safeguarded in accordance with the provisions of all applicable legislation or
regulations affecting them. 

Prevention of Liens 

7.4                   
Passport will 

(a)      
 pay all accounts of every kind for wages, supplies, workers’ compensation,
assessments and all other accounts and indebtedness incurred by it in connection
with any operations carried on by it in or on the Mining Property as those
payments become payable so that no claim or lien can arise on the Mining
Property or the ores, minerals or metals contained therein, 

(b)      
 indemnify and save harmless Twin Buttes against all loss, costs, actions,
suits, damages or claims which may be made against Twin Buttes in respect of any
operations carried on the Mining Property, and 

- 6 - 

(c)        discharge
immediately any lien or other encumbrance which may arise in respect of any work
done pursuant to this Lease. 

Records, Reports, Etc. 

7.5                   
Passport will keep true and accurate records, reports, maps, plans and surveys
of all exploration, development and mining work done on or under the Mining
Property, and will permit Twin Buttes to have access to and to copy any and all
documents. 

PART 8 

TWIN BUTTES’S RIGHTS TO INSPECT 

8.1                   
Twin Buttes and its authorized representatives will at all times have the right,
subject to §8.2, to enter on and visit all parts of the Mining Property above
and below ground for the purpose of inspecting, in a manner and at those times
as do not unduly interfere with the mining operations of Passport. 

8.2                   
Twin Buttes will exercise its rights under §8.1 at its own risk and will
indemnify Passport against all loss or damage occurring as a result of a breach
hereunder by Twin Buttes. 

PART 9 

INDEMNITY 

9.1                   
Except as specifically provided to the contrary, Passport will indemnify Twin
Buttes against all liabilities, claims and causes of action for injury to or
death of persons, and damage to or loss or destruction of property resulting
from the use or occupancy by Passport of the Mining Property or its operations
performed under this Lease. 

PART 10 

CONDUCT OF MINING OPERATIONS 

10.1                 
For the purpose of enabling Passport to prospect and explore Mining Property
with greater economy and convenience, Passport is granted the right to conduct
exploration activities on the Mining Property including geological, geophysical,
trail and road building and reverse circulation and diamond drilling. 

10.2                  Nothing
will relieve Passport from its obligations provided in this Lease for payments
or reports. 

- 7 - 

Control of Work by Passport 

10.3                  Subject
to the other provisions of this Lease, Passport will have complete discretion
and control with respect to all prospecting and exploration work carried out on
the Mining Property. 

Maintenance of Mining Property 

10.4                 
All operations on the Mining Property will be conducted in a manner which causes
the least damage and defacement practicable under the circumstances, and will be
in accordance with the provisions of any applicable environmental legislation,
hazardous or waste product legislation, or other similar or applicable
legislation. 

10.5                  At
the end of the Term, Passport will, as far as practicable, and subject to
Passport’s rights under this Lease, leave the Mining Property in the same state
and condition as it was in at the time of Passport’s entry on it. 

10.6                 
Passport will reimburse Twin Buttes for all actual physical damage to the Mining
Property (not including mere depreciation in value of the surface estate
incidentally resulting from mining operations thereon) and actual damages to
improvements, roads, wells, crops, timber, grass and livestock resulting from
Passport’s operations. 

PART 11 

ENVIRONMENTAL PROVISIONS 

General 

11.1                  Passport
will 

(a)      
 receive, handle, use, store, treat, ship and dispose of any and all
environmental contaminants (as established from time to time by applicable
legislation or regulation or bylaw) in strict compliance with all applicable
environmental, health or safety laws, regulations, order or approvals; and 

(b)      
 remove before the end of the Term, from the Mining Property all
environmental contaminants. 

11.2                 
Passport will not release into the environment, or deposit, discharge, place, or
dispose of at, on or near the Mining Property any hazardous or toxic materials,
substances, pollutants, contaminants or wastes as a result of the mining
operations conducted by it. 

11.3                  Passport
will not permit the Mining Property to be used at any time by any person as a
landfill or waste disposal site unless otherwise provided by this Lease. 

- 8 - 

Environmental Assessment 

11.4                 
Whenever requested by Twin Buttes, Passport will provide Twin Buttes with
access, during reasonable business hours and on reasonable notice, to the Mining
Property for the purpose of conducting an environmental assessment of the Mining
Property conducted in a manner that does not unreasonably interfere with
Passport’s operations. 

11.5                  The
environmental assessment will be at Twin Buttes’s sole expense. 

11.6                 
If the environmental assessment conducted by Twin Buttes pursuant to §11.4
reveals any previous or ongoing release of hazardous substances on or under the
Mining Property, then Twin Buttes may give notice to Passport of remedial
measures as Twin Buttes may, based on the results of the environmental
assessment, consider necessary. 

11.7                 
If Passport fails to undertake diligently the remedial measures specified by
Twin Buttes within 90 days after receipt of notice, Twin Buttes may immediately
terminate this Lease. 

Passport’s Indemnification 

11.8                  Passport
will indemnify and save harmless Twin Buttes from and against any and all 

(a)      
 liabilities, losses, claims, costs and damages (including lost profits,
consequential damages, interest, penalties, fines, monetary sanctions), and 

(b)      
 expenses incurred or suffered by Twin Buttes (including amounts paid to
lawyers, accountants, and engineers) 

by reason of, resulting from, in connection with, or arising in
any manner whatsoever out of the breach of any term contained in this Part 11.

11.9                  The
indemnification provided in §11.8 will remain in full force and effect for one
year from the expiration or other termination of the Term. 

PART 12 

TERMINATION 

Passport’s Default 

12.1                 
If 

(a)         Passport fails
to pay the payments due under the Option Agreement, 

(b)      
 Passport fails to perform or observe any other provision of this Lease to
be observed or performed by Passport, Twin Buttes gives Passport 30 days’ notice
of such failure, and Passport fails to 

- 9 - 

(i)        within 30 days after
such notice is given to commence diligently, or 

(ii)     
 thereafter proceed diligently 

to cure such failure, 

(c)        Passport or any
agent of Passport falsifies any report required to be furnished to Twin Buttes
pursuant to the terms of this Lease, 

(d)        Passport or any
person occupying the Mining Property or any part of it commits an act of
bankruptcy or becomes bankrupt or insolvent or takes the benefit of any Act in
force for bankrupt or insolvent debtors or files any proposal or makes any
assignment for the benefit of creditors, 

(e)        a receiver is
appointed for all or any portion of Passport’s property or an order is made for
the winding-up of Passport, 

(f)        Passport abandons or
attempts to abandon the Mining Property, 

Twin Buttes, in addition to any other rights or remedies it may
have pursuant to this Lease, by law or in equity, will have, to the extent
permitted by law, 

(a)      
 the immediate right of re-entry either by force or otherwise and to remove
all people and property from the Mining Property, 

(b)      
 the right to store any property so removed in a public warehouse or
elsewhere at the cost of, and for the account of Passport, or sell by way of
private or public sale, 

all without service of notice or resort to legal process and
without being deemed guilty of trespass, or becoming liable, for any loss or
damage which may be occasioned thereby. 

12.2                 
In addition to Twin Buttes’s right of re-entry, Twin Buttes may by notice
terminate this Lease, without prejudice to any other rights or remedies it may
have together with the reasonable expenses of Twin Buttes attributable to the
termination of this Lease and Passport will immediately deliver up possession of
the Mining Property to Twin Buttes. 

Passport’s Right to Terminate 

12.3                 
Passport may terminate this Lease at any time on not less than 60 days’ previous
notice of its intention to do so, and at the expiration of the 60 days, this
Lease will terminate accordingly. 

12.4                  After
the termination of this Lease, Passport will be entitled for a period of 120
days to enter on and remove from the Mining Property all machinery and equipment
placed on the Mining Property; provided, however, that Passport shall continue
to comply with the provisions of §7.3 and §10.5 of this Lease during such
period. 

- 10 - 

12.5                 
Upon the approval of Twin Buttes, which approval may be withheld in Twin Buttes’
sole discretion, Passport may leave machinery and equipment on the Mining
Property after termination of this Lease; provided, however, that any such
machinery and equipment shall thereafter become the property of Twin Buttes.

12.6                  Nothing
in §12.4 will prevent Passport from removing machinery and equipment placed on
the Mining Property during the Term. 

PART 13 

ASSIGNMENT AND SUBLETTING 

Restrictions 

13.1                 
Passport will not assign this Lease in whole or in part, nor sublet all or any
part of the Mining Property, nor permit any business to be operated in or from
the Mining Property by another nor mortgage or encumber this Lease or the Mining
Property or any party of it, nor part with or share possession of any part of
the Mining Property in any instance without the consent of Twin Buttes, which
consent may not, subject to §13.6 to §13.9 and subject to the conditions set
forth in §13.11, be unreasonably withheld. Notwithstanding anything contained in
this Lease to the contrary, any assignment of this Lease shall be accompanied by
an assignment of the Option Agreement to the intended assignee. 

13.2                  The
consent by Twin Buttes to any assignment or subletting will not constitute a
waiver of the necessity for consent to any subsequent assignment or subletting.

13.3                  The
prohibition against assigning or subletting will be construed to include a
prohibition against any assignment or subletting by operation of law. 

13.4                  Any
assignment of this Lease if consented to by Twin Buttes will be prepared by
Passport or its solicitors, and all costs with respect to it will be borne by
Passport. 

13.5                 
Any consent granted by Twin Buttes will require Passport to cause any assignee,
sublessee or occupant to enter into a direct agreement with Twin Buttes agreeing
to be bound by all of the terms contained in this Lease, as if the assignee,
sublessee or occupant had originally executed this Lease as Passport. 

13.6                  If
Passport intends to deal with this Lease in a manner referred to in §13.1, then
Passport will give notice to Twin Buttes of that intent, specifying the person
proposed to be granted an interest in this Lease and providing information with
respect thereto (including financial information) as Twin Buttes may request and
requesting Twin Buttes to consent to that proposal. 

13.7                  Twin
Buttes may then, at its option, notify Passport either that it will grant
consent (but subject to the other requirements of this Part 13) or that it
proposes to cancel this Lease (effective on the effective date of the proposed
dealing with this Lease) in preference to the giving of consent, whereupon
Passport will be entitled, within fifteen days of receipt of notice, to notify
Twin Buttes that it will refrain from that dealing failing which
Passport will conclusively be deemed to have accepted Twin Buttes’s proposal to
cancel this Lease. 

- 11 - 

13.8                  Notwithstanding
the foregoing, if Twin Buttes has reasonable grounds for refusing to consent to
the proposed dealing it may refuse to consent and require this Lease to remain
in full force and effect. 

13.9                 
If Passport receives from any assignee of this Lease, either directly or
indirectly, any consideration for the assignment of this Lease, either in the
form of cash, goods or services, Passport will immediately pay an amount
equivalent to that consideration to Twin Buttes. 

13.10               
No consent of Twin Buttes to any transfer by Passport of any interest in this
Lease will have the effect of releasing Passport from any potential future
liabilities pursuant to this Lease. 

Conditions of Consent 

13.11                If
Passport receives consent under §13.1, it will at the option of Twin Buttes be
on condition that 

(a)        all of the
provisions of this Lease remain as specified, 

(b)      
 Passport delivers to Twin Buttes 

(i)        a fully and duly
executed copy of the agreement to assign or sublet or part with or share
possession of the Mining Property, and 

(ii)        a fully and duly
executed written undertaking wherein each person to be granted an interest in
the Mining Property covenants with Twin Buttes not to commit any act in or on
the Mining Property which will be contrary to this Lease and to be bound by all
provisions of this Lease binding on Passport. 

PART 14 

MISCELLANEOUS 

Payments and Communications 

14.1                 
All payments and communications which may be or are required to be given by
either party to the other, will (in the absence of any specific provision to the
contrary) be in writing and delivered or sent by prepaid registered mail or
telecopier to the parties at their following respective addresses: 

(a)                 
if to Twin Buttes at: 

Post Office Box 447 
Holbrook,
Arizona, 86025 
Attention: Michael F. Fitzgerald 

- 12 - 

Facsimile: <> 

with a copy to: 

Olsen-Smith, Ltd. 
301 East
Virginia Avenue 
Suite 3300 
Phoenix, Arizona 85004 
Attention: James
J. Rossie, Jr., Esq.
Facsimile: 602-254-1041 

(b)                 
if to Passport at: 

608 - 1199 West Pender Street

Vancouver, BC V6E 2R1 
Attention: Richard Hunter 
Facsimile. <>

14.2                If
any payment or communication is sent by prepaid registered mail, it will,
subject to §14.3, be conclusively deemed to have been received on the third
business day after it is mailed and, if delivered or telecopied, it will be
conclusively deemed to have been received at the time of delivery or
transmission. 

14.3                 Notwithstanding
§14.1, if it may be reasonably anticipated that, due to any strike, lock-out or
similar event involving an interruption in postal service, a payment or
communication will, if mailed, not be received by the addressee by no later than
the third business day after it is mailed, then the mailing of such payment or
communication will not be an effective means of sending it and instead it must
then be delivered by an alternative means which it may reasonably be anticipated
will cause it to be received reasonably expeditiously by the addressee. 

14.4                  Either
party may from time to time change its address by notice to the other. 

Entire Agreement 

14.5                  With
respect to the subject-matter of this Lease, this agreement 

(a)        sets forth the
entire agreement between the parties and any persons who have in the past or who
are now representing either of the parties, 

(b)        supersedes all
previous understandings and communications between the parties or any of them,
oral or written, and 

(c)        constitutes the
entire agreement between the parties. 

- 13 - 

14.6             
 Each party acknowledges that this Lease is entered into after full
investigation and that no party is relying on any statement or representation
made by any other which is not embodied in this Lease. 

14.7              
Each party acknowledges that it will have no right to rely on any amendment,
promise, modification, statement or representation made or occurring after the
execution of this Lease unless it is in writing and executed by each of the
parties. 

Partial Invalidity 

14.8             
 If any provision of this Lease or the application of it to any person or
circumstance will, to any extent, be invalid or unenforceable, the remainder of
this Lease, or the application of that provision to persons or circumstances
other than those as to which it is held invalid or unenforceable, will not be
affected thereby and each provision of this Lease will be valid and enforced to
the fullest extent permitted by law and be independent of every other provision
of this Lease. 

Force Majeure 

14.9             
 No party will be held responsible or liable or be deemed to be in default
or in breach of this Lease for its delay, failure or inability to meet any of
its obligations under this Lease (other than any obligation to pay money) caused
by or arising from any cause which is unavoidable or beyond the reasonable
control of that party, including war, warlike operations, riot, insurrection,
orders of government, strike, lock-out, disturbance or any act of God or other
cause which frustrates the performance of this Lease. 

Time of the Essence 

14.10             Time
will be of the essence of this Lease and of every part of it and no extension or
variation of this agreement will operate as a waiver of this provision. 

Non-performance 

14.11            
The failure of any party to this Lease to enforce at any time any of the
provisions of this Lease or any of its rights in respect to it or to insist on
strict adherence to any term of this Lease will not be considered to be a waiver
of that provision, right or term or in any way to affect the validity of this
Lease or deprive the applicable party of the right thereafter to insist on
strict adherence to that term or any other term of this Lease. 

14.12             The
exercise by any party to this Lease of any of its rights provided by this Lease
will not preclude or prejudice the party from exercising any other right it may
have by reason of this Lease or otherwise, irrespective of any previous action
or proceeding taken by it under this Lease. 

14.13             A
waiver by a party of the performance of any of the provisions of this Lease will
be effective only if in writing and signed by a duly authorized representative
of that party. 

- 14 - 

Enurement 

14.14             This
Lease will enure to the benefit of and be binding on Twin Buttes and Passport
and their respective administrators, successors and permitted assigns. 

When Date not a Business Day 

14.15             Whenever
a payment to be made or action to be taken under this Lease is required to be
made or taken on a day other than a Business Day, the payment will be made or
action taken on the next Business Day following. 

Additional Acts and Documents 

14.16            
Each party hereto agrees to do all such things and take all such actions and to
make, execute and deliver such other documents and instruments, as shall be
reasonably requested to carry out the provisions, intent and purposes of this
Lease. 

Governing Law 

14.17             This
Lease shall be deemed to be made under, and shall be construed in accordance
with and governed by, the laws of the State of Arizona, and suit to enforce any
provision of this Lease or to obtain any remedy with respect hereto shall be
brought in Superior Court, Maricopa County, Arizona, and for this purpose each
party hereby expressly and irrevocably consent to the jurisdiction of said
court. 

Counterparts 

14.18            
This Lease may be executed in any number of counterparts; all such counterparts
(or a facsimile thereof) shall be deemed to constitute one and the same
instrument, and each of said counterparts shall be deemed an original hereof.

Calculation of Periods 

14.19             Unless
otherwise specified, a period within or following which a payment is to be made
or act is to be done will be calculated by excluding the day on which the period
is provided to begin and including the day which the period is provided to end
and by extending the period to the next Business Day following if the last day
of the period would otherwise not be a Business Day. 

[SIGNATURES ON FOLLOWING PAGE] 

- 15 - 

IN WITNESS WHEREOF this Lease has been executed by the
parties hereto as of the day and year first above written. 

	TWIN BUTTES RANCH, LLC, an 	) 	  
	Arizona limited liability company 	) 	  
	  	  	) 	  
	  	  	) 	  
	  	  	) 	  
	  	SEE
      COUNTERPART 	) 	  
	By: 	Michael R. Fitzgerald, Manager 	) 	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	The Corporate Seal of 	) 	  
	PASSPORT METALS INC., a Quebec 	) 	  
	registered corporation 	) 	  
	was affixed in the presence of: 	) 	  
	  	  	) 	  
	  	  	) 	C/S 
	  	  	) 	  
	Per: 	/s/
      Richard Hunter 	) 	  
	  	Authorized Signatory 	) 	  
	  	  	) 	  
	  	 
    	) 	  
	Per: 	Authorized Signatory 	) 	  

14.16            
Each party hereto agrees to do all such things and take all such actions and to
Make, execute and deliver such other documents and instruments, as shall be
reasonably requested to carry out the provisions, intent and purposes of this
Lease. 

Governing 1aw 

14.17             This
Lease shall be deemed to be made under, and shall be construed in accordance
with and governed by, the laws of the State of Arizona, and suit to enforce any
provision of this Lease or to obtain any remedy with respect hereto shall be
brought in Superior Court, Maricopa County, Arizona, and for this purpose each
party hereby expressly and irrevocably consent to the jurisdiction of said
court. 

Counterparts 

14.18             This
Lease may be executed in any number of counterparts; all such counterparts (or a
facsimile thereof) shall be deemed to constitute one and the same instrument,
and each of said counterparts shall be deemed an original hereof. 

Calculation of Periods 

14.19            
Unless otherwise specified, a period within or following which a payment is to
be made or act is to be done will be calculated by excluding the day on which
the period is provided to begin and including the day which the period is
provided to end and by extending the period to the next Business Day following
if the last day of the period would otherwise not be a Business Day. 

[SIGNATURES ON FOLLOWING PAGE] 

      
     IN WITNESS WHEREOF this Lease tips been
executed by the parties hereto as of the day and year first above written. 

	TWIN BUTTES RANCH, LLC, an 	) 	  
	Arizona limited liability company 	) 	  
	 	) 	  
	 	) 	  
	 	) 	  
	 	  	  
	By:     /s/ Michael R.
      Fitzgerald                                                               	) 	  
	           Michael
      R. Fitzgerald, Manager 	) 	  
	 	  	  
	 	  	  
	 	  	  
	 	  	  
	The Corporate Seal of 	) 	  
	PASSPORT METALS INC., a Quebec 	) 	  
	registered corporation 	) 	  
	was affixed in the presence of: 	) 	  
	 	) 	C/S 
	 	) 	  
	Per:    SEE
      COUNTERPART                                                               
       	) 	  
	           Authorized
      Signatory 	) 	  

- 16 - 

SCHEDULE A

Parcel Number 1. - Parcel Identifier 106-01-002 

All of Sections 19, 20, 21, 23, 25, 26, 27, 29, 30, 33 and 35;
Section 18 less the right of way for the railroad; that portion of Sections 7,
9, 11, 15 and 17 lying south and east of the Puerco River; the east half of
Section 28; the northeast quarter and south half of Section 32; and the north
half of Section 34, all lying in Township 18 North, Range 23 East of the Gila
and Salt River Base and Meridian, Navajo County, Arizona. 

Except all oil and gas rights, petrified wood and geothermal
resources whatsoever underlying or appurtenant to said lands as reserved in deed
recorded in docket 809, page 953 of official records. 

Parcel Number 2. - Parcel Identifier 106-01-019 

That portion of Section 13, Township 18 North, Range 23 East of
the Gila and Salt River Base and Meridian, Navajo County, Arizona, lying south
and east of the Puerco River 

Except all oil and gas rights, petrified wood and geothermal
resources whatsoever underlying or appurtenant to said lands as reserved in deed
recorded in docket 809, page 953 of official records. 

Parcel Number 3 - Parcel Identifier 110-17-003 

All of Sections 1, 12, 13 and 24; and that portion of Section
25 lying north of Highway 180, all lying in Township 17 North, Range 22 East of
the Gila and Salt River Base and Meridian, Navajo County, Arizona. 

Except all oil and gas rights, petrified wood and geothermal
resources whatsoever underlying or appurtenant to said lands as reserved in deed
recorded in docket 809, page 953 of official records. 

Parcel Number 4 - Parcel Identifier 110-18-001A 

All of Sections 1, 3, 5, 7, 8, 9, 10, 11, 13, 14, 15, 17, 18,
19, 21, 22, 23, 24, 25, 26 and 29; and that portion of Section 30 lying north of
old Highway 180, all lying in Township 17 North, Range 23 East of the Gila and
Salt River Base and Meridian, Navajo County, Arizona. 

Except all oil and gas rights, petrified wood and geothermal
resources whatsoever underlying or appurtenant to said lands as reserved in deed
recorded in docket 809, page 953 of official records. 

Except for coal and all other minerals as reserved to the
United States of America in the Patent to Said Land, as to Sections 10 and the
east half of Section 30. 

- 17 - 

Parcel Number 5 - Parcel Identifier 106-01-005 

The northwest quarter of the northwest quarter of Section 14;
and all of Section 24, all lying in Township 18 North, Range 23 East of the Gila
and Salt River Base and Meridian, Navajo County, Arizona. 

Except and undivided 1/4th interest in all oil, gas and
minerals in, on or under the surface of said land, as reserved by George W.
Hennessy and Francis Hennessy, Husband and Wife in deed recorded September 19,
1962 in docket 169, page 97 and an undivided Y2 interest as reserved by Howell
Gage and Essie Gage, Husband and Wife, in agreement recorded in docket 262, page
536 of official records (Section 14 only). 

Except all oil, gas, coal and minerals whatsoever, as reserved
in instrument recorded in book 36 of deeds, page 415 of official records
(section 24 only).IntelGenx Technologies Corp.: Exhibit 4.1 - Filed by newsfilecorp.com

IntelGenx Technologies Corp.
6425 Abrams, Ville Saint
Laurent
Quebec, H4S 1X9 Canada

Gentlemen:

The undersigned (the “Investor”) hereby confirms its
agreement with IntelGenx Technologies Corp., a Delaware corporation (the
“Company”) as follows:

     1. This Subscription
Agreement, including the Terms and Conditions For Purchase of Securities
attached hereto as Annex I (collectively, (this “Agreement”) is made as
of the date set forth below between the Company and the Investor.

     2. The Company has
authorized the sale and issuance to certain investors of up to an aggregate of
(i) • authorized but unissued shares (the “Shares”) of common stock, par
value $0.00001 per share (the “Common Stock”), of the Company, (ii)
warrants (the “Warrants”) to purchase an aggregate of up to • authorized
but unissued shares of Common Stock (the

“Warrant Shares”). The Shares and the Warrants shall be
sold together as units (the “Units”), each Unit consisting of one Share
and • of one Warrant to purchase one share of Common

Stock. The Units will not be separately issued or certificated
and the Shares and the Warrants shall be immediately separable and transferable
upon issuance. The Units, the Shares and the Warrants are hereinafter referred
to as the “Securities.” The form of the Warrant is attached hereto as
Exhibit B. Each Investor will receive Units at a public offering price of
$• (the

“Purchase Price”) per Unit.

     3. The offering and sale
of the Securities (the “Offering”) are being made pursuant to (1) an
effective Registration Statement on Form S-1, File No. 333-190065 (the
“Registration Statement”) filed by the Company with the Securities and
Exchange Commission (the “Commission”) (including the prospectus
contained therein (the “Prospectus”) and (2) if applicable, certain “free
writing prospectuses” (as that term is defined in Rule 405 under the Securities
Act of 1933, as amended (the “Securities Act”)), that have been or will
be filed with the Commission and delivered to the Investor on or prior to the
date hereof (the “Issuer Free Writing Prospectus”), containing certain
supplemental information regarding the Securities, the terms of the Offering and
the Company.

     4. The Company and the
Investor agree that the Investor will purchase from the Company and the Company
will issue and sell to the Investor the Securities set forth below for the
aggregate Purchase Price set forth below. The Securities shall be purchased
pursuant to the Terms and Conditions for Purchase of Securities attached hereto
as Annex I and incorporated herein by this reference as if fully set
forth herein. The Investor acknowledges that the Offering is not being
underwritten by the placement agent (the “Placement Agent”) named in the
Prospectus and that there is no minimum offering amount.

     5. The manner of
settlement of the Shares purchased by the Investor shall be determined by such
Investor as follows (check one):

	[____] 	
      A. Delivery by crediting the account of the Investor’s
      prime broker (as specified by such Investor on Exhibit A annexed hereto)
      with the Depository Trust Company (“DTC”) through its
      Deposit/Withdrawal At Custodian (“DWAC”) system, whereby Investor’s
      prime broker shall initiate a DWAC transaction on the Closing Date using
      its DTC participant identification number, and released by •, the
      Company’s transfer agent (the “Transfer Agent”), at the Company’s
      direction. NO LATER THAN ONE (1) BUSINESS DAY AFTER THE EXECUTION
      OF THIS AGREEMENT BY THE INVESTOR AND THE COMPANY, THE
      INVESTOR SHALL: 

	 	(I) 	
      DIRECT THE BROKER-DEALER AT WHICH THE ACCOUNT OR
      ACCOUNTS TO BE CREDITED WITH THE SHARES ARE MAINTAINED TO SET UP A DWAC
      INSTRUCTING THE TRANSFER AGENT TO CREDIT SUCH ACCOUNT OR ACCOUNTS WITH THE
      SHARES, AND

	 	 	 
	 	(II) 	
      REMIT BY WIRE TRANSFER THE AMOUNT OF FUNDS EQUAL TO
      THE AGGREGATE PURCHASE PRICE FOR THE SECURITIES BEING PURCHASED BY THE
      INVESTOR TO THE FOLLOWING ACCOUNT:

     To be separately provided to the
Investor

 —OR—

	[____] 	
      B. Delivery versus payment (“DVP”) through DTC
      (i.e., on the Closing Date, the Company shall issue Shares registered in
      the Investor’s name and address as set forth below and released by the
      Transfer Agent directly to the account(s) at Roth Capital Partners, LLC
      (“Roth”) identified by the Investor; upon receipt of such Shares,
      Roth shall promptly electronically deliver such Shares to the Investor,
      and simultaneously therewith payment shall be made by Roth by wire
      transfer to the Company). NO LATER THAN ONE (1) BUSINESS DAY AFTER
      THE EXECUTION OF THIS AGREEMENT BY THE INVESTOR AND THE
      COMPANY, THE INVESTOR SHALL: 

	 	(III)	
      NOTIFY ROTH OF THE ACCOUNT OR ACCOUNTS AT ROTH
      TO BE CREDITED WITH THE SHARES BEING PURCHASED BY SUCH INVESTOR,
      AND 

	 	 	 
	 	(IV)	
      CONFIRM THAT THE ACCOUNT OR ACCOUNTS AT ROTH TO
      BE CREDITED WITH THE SHARES BEING PURCHASED BY THE
      INVESTOR HAVE A MINIMUM BALANCE EQUAL TO THE AGGREGATE PURCHASE
      PRICE FOR THE SECURITIES BEING PURCHASED BY THE INVESTOR.
    

IT IS THE INVESTOR’S RESPONSIBILITY TO (A) MAKE THE
NECESSARY WIRE TRANSFER OR CONFIRM THE PROPER ACCOUNT
BALANCE IN A TIMELY MANNER AND (B) ARRANGE FOR SETTLEMENT
BY WAY OF DWAC OR DVP IN A TIMELY MANNER. IF THE INVESTOR
DOES NOT DELIVER THE AGGREGATE PURCHASE PRICE FOR THE SECURITIES OR DOES NOT MAKE
PROPER ARRANGEMENTS FOR SETTLEMENT IN A TIMELY MANNER, THE
SECURITIES MAY NOT BE DELIVERED AT CLOSING TO THE INVESTOR
OR THE INVESTOR MAY BE EXCLUDED FROM THE CLOSING
ALTOGETHER.

     6. The executed Warrants
shall be delivered to the Investor by mail, registered in such names and sent to
such address as specified by the Investor below.

     7. The Investor represents
that, except as set forth below, (a) it has had no position, office or other
material relationship within the past three (3) years with the Company or
persons known to it to be affiliates of the Company, (b) it is not a member of
the Financial Industry Regulatory Authority, Inc. (“FINRA”) or an
Associated Person (as such term is defined under FINRA’s NASD Membership and
Registration Rules Section 1011) as of the Closing, and (c) neither the Investor
nor any group of Investors (as identified in a public filing made with the
Commission) of which the Investor is a part in connection with the Offering,
acquired, or obtained the right to acquire, 20% or more of the Common Stock (or
securities convertible into or exercisable for Common Stock) or the voting power
of the Company on a post-transaction basis. Exceptions: 

____________________________________________________________________

(If no exceptions, write “none.” If left blank, response will be
deemed to be “none.”)

     8. The Investor represents
that it has received (or otherwise had made available to it by the filing by the
Company of an electronic version thereof with the Commission) the Prospectus,
dated August •, 2013, which is a part of the Company’s Registration Statement,
the documents incorporated by reference therein and any free writing prospectus
(collectively, the “Disclosure Package”), prior to or in
connection with the receipt of this Agreement. The Investor acknowledges that,
prior to the delivery of this Agreement to the Company, the Investor will
receive certain additional information regarding the Offering, including pricing
information (the “Offering Information”). Such information may be
provided to the Investor by any means permitted under the Securities Act,
including a free writing prospectus and oral communications.

     9. No offer by the
Investor to buy Securities will be accepted and no part of the Purchase Price
will be delivered to the Company until the Investor has received the Offering
Information and the Company has accepted such offer by countersigning a copy of
this Agreement, and any such offer may be withdrawn or revoked, without
obligation or commitment of any kind, at any time prior to the Company (or Roth
on behalf of the Company) sending (orally, in writing or by electronic mail)
notice of its acceptance of such offer. An indication of interest will involve
no obligation or commitment of any kind until the Investor has been delivered
the Offering Information and this Agreement is accepted and countersigned by or
on behalf of the Company.

     10. The Company
acknowledges that the only material, non-public information relating to the
Company or its subsidiaries that the Company, its employees or agents has
provided to the Investor in connection with the Offering prior to the date
hereof is the existence of the Offering.

Number of Units: ____________________________

Purchase Price per Unit: $ ______________________

Aggregate Purchase Price: $ ____________________

Number of Warrant Shares subject to Warrants (Equal to Number
of Shares multiplied by • and rounded down to the nearest whole number):
____________________

 

     Please confirm that the foregoing
correctly sets forth the agreement between us by signing in the space provided
below for that purpose.

	 	Dated as of: August •, 2013 
	 	 	  
	 	 	  
	 	 	  
	 	INVESTOR 
	 	 	  
	 	By: 	
	 	Print Name: 	
	 	Title: 	
	 	Address: 	
	 	 	 

	Agreed and Accepted 	 
	this • day of August, 2013: 	 
	 	  	 
	INTELGENX TECHNOLOGIES CORP. 	 
	 	  	 
	 	  	 
	By: 		 
	 	Title: 	 

ANNEX I

TERMS AND CONDITIONS FOR PURCHASE OF SECURITIES

     1. Authorization and Sale of
the Securities. Subject to the terms and conditions of this Agreement, the
Company has authorized the sale of the Securities.

     2. Agreement to Sell and
Purchase the Securities; Placement Agent.

          2.1
At the Closing (as defined in Section 3.1), the Company will sell to
the Investor, and the Investor will purchase from the Company, upon the terms
and conditions set forth herein, the number of Securities set forth on the last
page of the Agreement to which these Terms and Conditions for Purchase of
Securities are attached as Annex I (the “Signature Page”) for the
aggregate purchase price therefor set forth on the Signature Page.

          2.2
The Company proposes to enter into substantially this same form of
Subscription Agreement with certain other investors (the “Other
Investors”) and expects to complete sales of Securities to them. The
Investor and the Other Investors are hereinafter sometimes collectively referred
to as the “Investors,” and this Agreement and the Subscription Agreements
executed by the Other Investors are hereinafter sometimes collectively referred
to as the “Agreements.” 

          2.3
Investor acknowledges that the Company has agreed to pay Roth Capital
Partners, LLC (the “Placement Agent”) a fee (the “Placement Fee”)
and to reimburse the Placement Agent for certain expenses in respect of the sale
of the Securities to the Investor.

          2.4
The Company has entered into a Placement Agent Agreement, dated the date
hereof, (the “Placement Agreement”), with the Placement Agent that
contains representations, warranties, covenants and agreements of the Company
that may be relied upon by the Investor, which shall be a third party
beneficiary thereof. The Company confirms that neither it nor any other Person
acting on its behalf has provided the Investor or their agents or counsel with
any information that constitutes or could reasonably be expected to constitute
material, nonpublic information, except as will be disclosed in the Prospectus
and/or in the Company’s Form 8-K to be filed with the Commission in connection
with the Offering. The Company understands and confirms that the Investor will
rely on the foregoing representations in effecting transactions in securities of
the Company.

     3. Closings and Delivery
of the Securities and Funds.

          3.1
Closing. The completion of the purchase and sale of the
Securities (the “Closing”) shall occur at a place and time (the
“Closing Date”) to be specified by the Company and the Placement Agent,
and of which the Investors will be notified in advance by the Placement Agent,
in accordance with Rule 15c6-l promulgated under the Securities Exchange Act of
1934, as amended (the “Exchange Act”). At the Closing, (a) the
Company shall cause •, the Company’s “Transfer Agent”, to deliver to the
Investor the number of Shares included in the Units set forth on the Signature
Page registered in the name of the Investor or, if so indicated on the Investor
Questionnaire attached hereto as Exhibit A, in the name of a nominee
designated by the Investor, (b) the Company shall cause to be delivered to the
Investor a Warrant for the number of Warrant Shares included in the Units set
forth on the Signature Page, and (c) the aggregate purchase price for the Securities being purchased by the Investor will be
delivered by or on behalf of the Investor to the Company.

          3.2
Conditions to the Obligations of the Parties. 

     (a)
Conditions to the Company’s Obligations. The Company’s obligation
to issue and sell the Securities to the Investor shall be subject to: (i) the
receipt by the Company of the purchase price for the Securities being purchased
hereunder as set forth on the Signature Page and (ii) the accuracy of the
representations and warranties made by the Investor and the fulfillment of those
undertakings of the Investor to be fulfilled prior to the Closing Date.

     (b)
Conditions to the Investor’s Obligations. The Investor’s
obligation to purchase the Securities will be subject to the accuracy of the
representations and warranties made by the Company and the fulfillment of those
undertakings of the Company to be fulfilled prior to the Closing Date, including
without limitation, those contained in the Placement Agreement, and to the
condition that the Placement Agent shall not have: (a) terminated the Placement
Agreement pursuant to the terms thereof or (b) determined that the conditions to
the closing in the Placement Agreement have not been satisfied. The Investor’s
obligations are expressly not conditioned on the purchase by any or all of the
Other Investors of the Securities that they have agreed to purchase from the
Company. The Investor understands and agrees that, in the event that the
Placement Agent in its sole discretion determines that the conditions to closing
in the Placement Agreement have not been satisfied or if the Placement Agreement
may be terminated for any other reason permitted by such Placement Agreement,
then the Placement Agent may, but shall not be obligated to, terminate such
Agreement, which shall have the effect of terminating this Subscription
Agreement pursuant to Section 14 below. 

     (c) The
issuance and sale of the Units and the Warrant Shares (upon exercise of the
Warrants) shall be conditional upon receipt by the Company of approval of the
TSX Venture Exchange.

          3.3
Delivery of Funds.

     (a)
DWAC Delivery. If the Investor elects to settle the Shares purchased by
such Investor through DTC’s Deposit/Withdrawal at Custodian (“DWAC”) delivery
system, no later than one (1) business day after the execution of this
Agreement by the Investor and the Company, the
Investor shall remit by wire transfer the amount of funds equal to the aggregate
purchase price for the Securities being purchased by the Investor to the
following account designated by the Company:

     To be
separately provided to the Investor

     (b)
Delivery Versus Payment through The Depository Trust Company. If the
Investor elects to settle the Shares purchased by such Investor by delivery
versus payment through DTC, no later than one (1) business day after the
execution of this Agreement by the Investor and the
Company, the Investor shall confirm that the account or accounts at the Placement
Agent to be credited with the Shares being purchased by the Investor have a
minimum balance equal to the aggregate purchase price for the Securities being
purchased by the Investor.

     3.4 Delivery of
Shares.

     (a) DWAC Delivery. If the
Investor elects to settle the Shares purchased by such Investor through DTC’s
DWAC delivery system, no later than one (1) business day after
the execution of this Agreement by the Investor and the
Company, the Investor shall direct the broker-dealer at which the
account or accounts to be credited with the Shares being purchased by such
Investor are maintained, which broker/dealer shall be a DTC participant, to set
up a DWAC instructing the Transfer Agent to credit such account or accounts with
the Shares. Such DWAC instruction shall indicate the settlement date for the
deposit of the Shares, which date shall be provided to the Investor by the
Placement Agent. Upon the closing of the Offering, the Company shall direct the
Transfer Agent to credit the Investor’s account or accounts with the Shares
pursuant to the information contained in the DWAC.

     (b) Delivery Versus Payment
through The Depository Trust Company. If the Investor elects to settle the
Shares purchased by such Investor by delivery versus payment through DTC,
no later than one (1) business day after the execution of this Agreement
by the Investor and the Company, the
Investor shall notify the Placement Agent of the account or accounts at the
Placement Agent to be credited with the Shares being purchased by such Investor.
On the Closing Date, the Company shall deliver the Shares to the Investor
through DTC directly to the account(s) at the Placement Agent identified by the
Investor. Upon receipt of such Shares, the Placement Agent shall promptly
electronically deliver such Shares to the Investor, and simultaneously therewith
payment shall be made by the Placement Agent by wire transfer to the
Company.

     4. Representations,
Warranties and Covenants of the Investor.

     The Investor acknowledges,
represents and warrants to, and agrees with, the Company and the Placement Agent
that:

          4.1
The Investor (a) is knowledgeable, sophisticated and experienced in making,
and is qualified to make decisions with respect to, investments in securities
presenting an investment decision like that involved in the purchase of the
Securities, including investments in securities issued by the Company and
investments in comparable companies, (b) has answered all questions on the
Signature Page and the Investor Questionnaire and the answers thereto are true
and correct as of the date hereof and will be true and correct as of the Closing
Date and (c) in connection with its decision to purchase the Securities set
forth on the Signature Page, has received and is relying only upon the
Disclosure Package and the documents incorporated by reference therein and the
Offering Information.

          4.2
(a) No action has been or will be taken in any jurisdiction outside the
United States by the Company or the Placement Agent that would permit an
offering of the Securities, or possession or distribution of offering materials
in connection with the issue of the Securities in any jurisdiction outside the
United States where action for that purpose is required, (b) if the Investor is outside the United
States, it will comply with all applicable laws and regulations in each foreign
jurisdiction in which it purchases, offers, sells or delivers Securities or has
in its possession or distributes any offering material, in all cases at its own
expense and (c) the Placement Agent is not authorized to make and has not made
any representation, disclosure or use of any information in connection with the
issue, placement, purchase and sale of the Securities, except as set forth or
incorporated by reference in the Registration Statement, Prospectus or any free
writing prospectus.

     4.3
(a) The Investor has full right, power, authority and capacity to enter into
this Agreement and to consummate the transactions contemplated hereby and has
taken all necessary action to authorize the execution, delivery and performance
of this Agreement, and (b) this Agreement constitutes a valid and binding
obligation of the Investor enforceable against the Investor in accordance with
its terms, except as enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting creditors’ and
contracting parties’ rights generally and except as enforceability may be
subject to general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law) and except as
to the enforceability of any rights to indemnification or contribution that may
be violative of the public policy underlying any law, rule or regulation
(including any federal or state securities law, rule or regulation).

     4.4
The Investor understands that nothing in this Agreement, the Prospectus, the
Disclosure Package, the Offering Information or any other materials presented to
the Investor in connection with the purchase and sale of the Units constitutes
legal, tax or investment advice. The Investor has consulted such legal, tax and
investment advisors and made such investigation as it, in its sole discretion,
has deemed necessary or appropriate in connection with its purchase of Units.
The Investor also understands that there is no established public trading market
for the Warrants, and that the Company does not expect such a market to develop.
In addition, the Company does not intend to apply for listing of the Warrants on
any securities exchange. The Investor understands that without an active market,
the liquidity of the Warrants will be limited. 

     4.5
The Investor will maintain the confidentiality of all information acquired
as a result of the transactions contemplated hereby prior to the public
disclosure of that information by the Company in accordance with Section 13
of this Annex.

     4.6
Since the time at which the Placement Agent first contacted such Investor
about the Offering, the Investor has not disclosed any information regarding the
Offering to any third parties (other than its legal, accounting and other
advisors) and has not engaged in any purchases or sales of the securities of the
Company (including, without limitation, any Short Sales (as defined herein)
involving the Company’s securities). The Investor covenants that it will not
engage in any purchases or sales of the securities of the Company (including
Short Sales) prior to the time that the transactions contemplated by this
Agreement are publicly disclosed. The Investor agrees that it will not use any
of the Securities acquired pursuant to this Agreement to cover any short
position in the Common Stock if doing so would be in violation of applicable
securities laws. For purposes hereof, “Short Sales” include, without limitation,
all “short sales” as defined in Rule 200 promulgated under Regulation SHO under
the Exchange Act, whether or not against the box, and all types of direct and
indirect stock pledges, forward sales contracts,
options, puts, calls, short sales, swaps, “put equivalent positions” (as defined
in Rule 16a-1(h) under the Exchange Act) and similar arrangements (including on
a total return basis), and sales and other transactions through non-U.S. broker
dealers or foreign regulated brokers.

     5. Survival of
Representations, Warranties and Agreements; Third Party Beneficiary.
Notwithstanding any investigation made by any party to this Agreement
or by the Placement Agent, all covenants, agreements, representations and
warranties made by the Company and the Investor herein will survive the
execution of this Agreement, the delivery to the Investor of the Securities
being purchased and the payment therefor. The Placement Agent shall be a third
party beneficiary with respect to the representations, warranties and agreements
of the Investor in Section 4 hereof.

     6. Notices. All notices,
requests, consents and other communications hereunder will be in writing, will
be mailed (a) if within the domestic United States by first-class registered or
certified airmail, or nationally recognized overnight express courier, postage
prepaid, or by facsimile or (b) if delivered from outside the United States, by
International Federal Express or facsimile, and will be deemed given (i) if
delivered by first-class registered or certified mail domestic, three business
days after so mailed, (ii) if delivered by nationally recognized overnight
carrier, one business day after so mailed, (iii) if delivered by International
Federal Express, two business days after so mailed and (iv) if delivered by
facsimile, upon electronic confirmation of receipt and will be delivered and
addressed as follows: 

(a) if to the Company, to:

IntelGenx Technologies Corp.
6425
Abrams, Ville Saint Laurent 
Quebec, H4S 1X9 Canada
Attention: Chief
Executive Officer 
Facsimile: (___) ___-____

with a copy (which shall not
constitute notice) to:

Dorsey & Whitney LLP
TD Canada
Trust Tower
Brookfield Place, 161 Bay Street, Suite 4310
Toronto, Ontario
M5J 2S1 Canada
Attention: Richard Raymer
Fax: (___) ___-____

(b) if to the Investor, at its address
on the Signature Page hereto, or at such other address or addresses as may have
been furnished to the Company in writing.

     7. Changes. This Agreement
may not be modified or amended except pursuant to an instrument in writing
signed by the Company and the Investor.

     8. Headings. The headings
of the various sections of this Agreement have been inserted for convenience of
reference only and will not be deemed to be part of this Agreement.

     9. Severability. In case
any provision contained in this Agreement should be invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the
remaining provisions contained herein will not in any way be affected or
impaired thereby.

     10. Governing Law. This
Agreement will be governed by, and construed in accordance with, the internal
laws of the State of New York, without giving effect to the principles of
conflicts of law that would require the application of the laws of any other
jurisdiction.

     11. Counterparts. This
Agreement may be executed in two or more counterparts, each of which will
constitute an original, but all of which, when taken together, will constitute
but one instrument, and will become effective when one or more counterparts have
been signed by each party hereto and delivered to the other parties. The Company
and the Investor acknowledge and agree that the Company shall deliver its
counterpart to the Investor along with the Prospectus (or the filing by the
Company of an electronic version thereof with the Commission).

     12. Confirmation of Sale.
The Investor acknowledges and agrees that such Investor’s receipt of the
Company’s signed counterpart to this Agreement, together with the Prospectus (or
the filing by the Company of an electronic version thereof with the Commission),
shall constitute written confirmation of the Company’s sale of the Securities to
such Investor.

     13. Press Release. The
Company and the Investor agree that the Company shall (a) prior to the opening
of the financial markets in New York City on August •, 2013 issue a press
release announcing the Offering and disclosing all material information
regarding the Offering and (b) as promptly as practicable on August •, 2013 file
a current report on Form 8-K with the Securities and Exchange Commission
including, but not limited to, a form of this Agreement and forms of Warrants as
exhibits thereto.

     14. Termination. In the
event that the Placement Agreement is terminated by the Placement Agent pursuant
to the terms thereof, this Agreement shall terminate without any further action
on the part of the parties hereto.

EXHIBIT A

INTELGENX TECHNOLOGIES CORP.

INVESTOR QUESTIONNAIRE

Pursuant to Section 3 of Annex I to the
Agreement, please provide us with the following information:

	1. 	The exact name that your Securities are to be
      registered in. You may use a nominee name if appropriate: 		
	  	  	 	 
	2. 	The relationship between the Investor and the
      registered holder listed in response to item 1 above: 		
	  	  	 	 
	3. 	The mailing address of the registered holder
      listed in response to item 1 above: 		
	  	  	 	 
	4. 	The Social Security Number or Tax
      Identification Number of the registered holder listed in the response to
      item 1 above: 		
	  	  	 	 
	5. 	Name of DTC Participant (broker-dealer at which
      the account or accounts to be credited with the Shares are maintained):
		
	  	  	 	 
	6. 	DTC Participant Number: 	 	 
	  	  	 	 
	7. 	Name of Account at DTC Participant being
      credited with the Shares: 		
	  	  	 	 
	8. 	Account Number at DTC Participant being
      credited with the Shares: 		

EXHIBIT B

FORM OF WARRANT

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