Document:

Exhibit 4.6

 

Execution Copy

 

IVANHOE ELECTRIC INC.

REGISTRATION RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS AGREEMENT (this
 “Agreement”) is entered into as of November 10, 2021, by and among IVANHOE ELECTRIC INC., a Delaware corporation
(the “Company”), and CENTRAL ARIZONA RESOURCES, LLC, an Arizona limited liability company (“CAR”).

 

RECITALS

 

WHEREAS, the Company and CAR are parties
to the Assignment Agreement dated as of October 27, 2021, (as the same may be amended, supplemented or otherwise modified from time
to time, the “Assignment Agreement”) by and among CAR, Presidio Group Inc., Gold Coast Mining Inc., Russell Mining
Inc., the Company and Mesa Cobre Holding Corporation (“Mesa Cobre”), pursuant to which CAR has agreed to assign to
Mesa Cobre, and Mesa Cobre has agreed to accept, all of CAR’s rights, titles, duties, interest and obligations under the CAR Santa
Cruz Agreements, for consideration comprised of cash and certain newly issued shares of Common Stock to be issued by the Company to CAR
upon the completion of an IPO or (if sooner) upon the first anniversary of the date hereof (the shares so issuable to CAR, collectively,
the “CAR Shares”).

 

WHEREAS, as required by Article 5 of
the Assignment Agreement, the Company and CAR wish to enter into this Agreement for the purpose of providing the Investors with certain
registration rights with respect to the CAR Shares, as set forth below.

 

NOW THEREFORE, in consideration of the mutual
covenants and agreements of the parties hereto, and of the mutual benefits to be gained by the performance thereof, and for other good
and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto, for themselves, their heirs,
executors, administrators, successors and assigns, do hereby covenant and agree as follows:

 

ARTICLE 1

CERTAIN DEFINED TERMS

 

As used in this Agreement, the following additional
terms, not defined elsewhere, have the meanings herein specified:

 

“Affiliate” means a Person that
is controlled by, that controls, or that is under common control with, a particular Person. For purpose of this definition, the term “control”
(including the terms “controlled by” and “under common control with”) means having, directly or indirectly, the
power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities
or by contract or otherwise.

 

“Agreement” has the meaning
set forth in the introductory paragraph hereof.

 

“Assignment Agreement” has the
meaning set forth in the recitals hereto.

 

    	 	1	 

     

    

 

“Board” means the board of directors
of the Company.

 

“Business Day” means any day
of the year on which banking institutions in New York, New York, USA are open to the public for conducting business and are not required
or authorized to close.

 

“CAR Santa Cruz Agreements”
has the meaning ascribed to it in the Assignment Agreement.

 

“Company” has the meaning set
forth in the introductory paragraph hereof.

 

“Company Securities” means,
collectively, (a) the CAR Shares, (b) other shares of Common Stock, if any, acquired by any Investor prior to the IPO, and (c) any
shares of Common Stock or other securities of the Company issued as a split, stock dividend or similar distribution or event with respect
to, in exchange for, or in replacement of, any of the securities described in clause (a) or (b) above.

 

“Commission” means the Securities
and Exchange Commission or any successor agency of the United States federal government serving a similar function.

 

“Common Stock” means the common
stock, par value $0.0001 per share, of the Company.

 

“CAR Shares” has the meaning
set forth in the recitals hereto.

 

“Exchange Act” means the U.S.
Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Investors” means, collectively,
CAR and each Permitted Transferee of CAR (or of any other Investor) that becomes an owner of Company Securities and agrees by its execution
and delivery of a Joinder to be bound as an Investor by all the terms and provisions hereof.

 

“IPO” has the meaning ascribed
to it in the Assignment Agreement.

 

“Joinder” means a counterpart
of this Agreement, in the form of Exhibit A hereto, whereby a Permitted Transferee of Company Securities agrees to bind itself as
an Investor to the terms and provisions of this Agreement.

 

“Lock-up Period” has the meaning
set forth in Section 2.7.

 

“Mesa Cobre” has the meaning
set forth in the recitals hereto.

 

“Permitted
Transferee” means (i) with respect to an entity, such entity’s Affiliates, (ii) with respect to a
partnership, such partnership’s partners or redeeming partners in accordance with their respective partnership interests,
(iii) with respect to a limited liability company, such limited liability company’s members or redeeming members in
accordance with their respective membership interests, (iv) with respect to a corporation, such corporation’s
stockholders in accordance with their respective equity interests in the corporation, and (v) with respect to a natural person,
such person’s spouse, ancestors, descendants or siblings (natural or adopted) and the ancestors, descendants or siblings
(natural or adopted) of such person’s spouse (all of the foregoing collectively referred to as “family members”)
or a custodian or trustee of any trust, partnership or limited liability company for the benefit of, or the ownership interests of
which are owned wholly by, such person or any such family members, or (vi) any recipient of a bona fide gift to a
charitable or tax-exempt organization as approved by the Board.

 

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“Person” means any individual,
partnership, limited partnership, corporation, limited liability company, association, joint stock corporation, trust, joint venture,
unincorporated organization or governmental entity or department, agency or political subdivision thereof, or any other entity.

 

“Registrable Securities” means
all CAR Shares owned by an Investor or its Permitted Transferees, including any shares of Common Stock issued as a split, stock dividend
or similar distribution or event with respect to, in exchange for, or in replacement of, any of the CAR Shares. As to any particular Registrable
Securities, such securities shall cease to be Registrable Securities when (i) a registration statement covering such Registrable
Securities has been declared effective by the Commission and such Registrable Securities have been disposed of pursuant to such effective
registration statement, (ii) such Registrable Securities are distributed to the public pursuant to and in compliance with Rule 144
(or any similar provision then in effect) under the Securities Act, or (iii) such Registrable Securities become eligible for sale
to the public without restriction under the Securities Act in accordance with Rule 144.

 

“Registration Filing Period”
means the forty-five (45)-day period following the earliest of of (a) the six-month anniversary of the closing date of the IPO, (b) the
expiration date of the Lock-up Period and (c) the six-month anniversary of the first date as of which the Company becomes subject
to the periodic reporting requirements of the Exchange Act (other than by reason of the IPO).

 

“Securities Act” means the U.S.
Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Shelf Period” has the meaning
set forth in Section 2.2.

 

“Shelf Registration” has the
meaning set forth in Section 2.1(a).

 

“Shelf Registration Statement”
has the meaning set forth in Section 2.1(a).

 

ARTICLE 2

REGISTRATION RIGHTS

 

2.1            Shelf
Registration.

 

(a)            If,
at any time prior to the second anniversary of the date hereof, either (i) an IPO occurs or (ii) the Company otherwise
becomes subject to the periodic reporting requirements of the Exchange Act, then the Company shall use its best efforts to prepare
and file with the Commission, during the Registration Filing Period, a shelf registration statement pursuant to Rule 415 under
the Securities Act on the then applicable form or any successor form (a “Shelf Registration Statement”) relating
to the offer and sale of Registrable Securities held by the Investors from time to time hereunder in accordance with the
method(s) of distribution elected by the Investors, and the Company shall use its best efforts to cause such Shelf Registration
Statement to become effective under the Securities Act as soon as reasonably practicable thereafter. Any such registration pursuant
to this Section 2.1(a) shall hereinafter be referred to as a “Shelf Registration.”

 

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(b)            Notwithstanding
anything in this Agreement to the contrary, in the event that, the Company determines (based on written advice of its counsel) that, as
of the last day of the Registration Filing Period, all Registrable Securities shall have ceased to be such pursuant to the second sentence
of the definition of “Registrable Securities”, the Company shall not be required to file the Shelf Registration Statement
and this Agreement shall terminate and be of no further force or effect.

 

2.2            Continued
Effectiveness. Subject to Section 2.3(c), the Company shall use its best efforts to keep the Shelf Registration Statement continuously
effective under the Securities Act in order to permit the prospectus forming part of the Shelf Registration Statement to be usable by
a seller until the earlier of: (i) the date as of which all Registrable Securities have been sold pursuant to the Shelf Registration
Statement or another registration statement filed under the Securities Act; and (ii) the first date as of which the Investors no
longer hold any Registrable Securities (such period of effectiveness, the “Shelf Period”). All registration rights
granted under this Article 2 will terminate upon the expiration of the Shelf Period.

 

2.3            Registration
Procedures. In connection with any Shelf Registration Statement filed with the Commission and kept effective by the Company pursuant
to Sections 2.1 and 2.2, the Company shall:

 

(a)            furnish
to each seller of Registrable Securities such number of copies of such Shelf Registration Statement, each amendment and supplement thereto,
the prospectus included in such Shelf Registration Statement (including each preliminary prospectus and any supplements thereto) and such
other documents as such seller may reasonably request in order to facilitate the disposition of the Registrable Securities owned by such
seller;

 

(b)            use
best efforts to register or qualify such Registrable Securities under such other securities or blue sky laws of such jurisdictions as
any seller of Registrable Securities reasonably requests and do any and all other acts and things which may be reasonably necessary or
advisable to enable such seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by such seller
(provided that the Company shall not be required to (i) qualify generally to do business in any jurisdiction where it would not otherwise
be required to qualify but for this subparagraph, (ii) subject itself to taxation in any such jurisdictions, (iii) consent to
general service of process in any such jurisdiction or (iv) undertake such actions in any jurisdiction other than the states of the
United States of America and the District of Columbia);

 

(c)            notify
each seller of Registrable Securities, at any time when a prospectus relating thereto is required to be delivered under the
Securities Act, of the happening of any event as a result of which the prospectus included in such registration statement contains
an untrue statement of a material fact or omits any fact necessary to make the statements therein not misleading, and, at the
request of any such seller, the Company shall supplement or amend such Shelf Registration Statement (if required by the registration
form used by the Company for such Shelf Registration Statement, by the instructions applicable to such registration form or by the
Securities Act or the rules or regulations promulgated thereunder) and prepare a supplement or amendment to such prospectus so
that, as thereafter delivered to purchasers of Registrable Securities, such prospectus shall not contain an untrue statement of a
material fact or omit to state any fact necessary to make the statements therein not misleading; provided, however,
that each seller shall, immediately upon receipt of any notice from the Company of the happening of any event of the kind described
in this paragraph (c), forthwith discontinue disposition of Registrable Securities pursuant to the Shelf Registration Statement
until (i) the Commission has declared any post-effective amendment to the Shelf Registration Statement effective, if necessary,
and (ii) the seller has received copies of the supplement or amendment of the prospectus prepared in accordance with this
paragraph (c), and, if so directed by the Company, each seller shall deliver to the Company all copies, other than permanent file
copies then in the seller’s possession, of the prospectus covering Registrable Securities current at the time of receipt of
such notice;

 

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(d)            use
its best efforts to cause the Registrable Securities to be listed on each securities exchange on which the Common Stock is then listed,
or, if the Common Stock is not so listed, to be listed on an exchange or quoted on an electronic inter-dealer quotation system on which
the securities of issuers engaging in businesses similar to that of the Company, as determined by the Board, are listed or quoted;

 

(e)            provide
a transfer agent and registrar for the Registrable Securities not later than the effective date of the Shelf Registration Statement;

 

(f)            make
available for inspection by any seller of Registrable Securities and any attorney, accountant or other agent retained by any such seller,
all financial statements and pertinent corporate documents of the Company, and cause the Company’s officers, directors, employees
and independent accountants to supply all information reasonably requested by any such seller, attorney, accountant or agent in connection
with the Shelf Registration Statement;

 

(g)            permit
any holder of Registrable Securities which holder, in the Company’s judgment, might be deemed to be an underwriter or a controlling
Person of the Company, to participate in the preparation of the Shelf Registration Statement and to require the insertion therein of material,
furnished to the Company in writing, which in the reasonable judgment of such holder and its counsel should be included therein;

 

(h)            to
the extent the Company is eligible under the relevant provisions of Rule 430B under the Securities Act, include in the Shelf Registration
Statement such disclosures as may be required by Rule 430B under the Securities Act (referring to the unnamed selling security holders
in a generic manner) in order to ensure that any Investor may be added to the Shelf Registration Statement at a later time through the
filing of a prospectus supplement rather than a post-effective amendment; and

 

(i)            if
the Shelf Registration Statement has not been effective for the Shelf Period, in the event of the issuance of any stop order
suspending the effectiveness of the Shelf Registration Statement, or of any order suspending or preventing the use of any related
prospectus or suspending the qualification of any Common Stock included in such registration statement for sale in any jurisdiction,
promptly use best efforts to obtain the withdrawal of such order. If any holder is identified in the Shelf Registration Statement as
a holder of any securities of the Company and if in its sole and exclusive judgment such holder is or might be deemed to be a
controlling Person of the Company, such holder shall have the right to require (i) to the extent permitted by law, the
insertion therein of language, in form and substance satisfactory to such holder and presented to the Company in writing, to the
effect that the holding by such holder of such securities is not to be construed as a recommendation by such holder of the
investment quality of the Company’s securities covered thereby and that such holding does not imply that such holder shall
assist in meeting any future financial requirements of the Company, and (ii) in the event that such reference to such holder by
name or otherwise is not required by the Securities Act or any similar federal statute then in force, the deletion of the reference
to such holder; provided, that such holder shall furnish to the Company an opinion of counsel to such effect, which opinion
and counsel shall be reasonably satisfactory to the Company.

 

    	 	5	 

     

    

 

2.4            Company
Information Requests. The Company may require any Investor or Permitted Transferee to furnish to the Company such information regarding
the distribution of Registrable Securities and such other information relating to such Investor or Permitted Transferee and its ownership
of Registrable Securities or other securities of the Company as the Company may from time to time reasonably request in writing, and the
Company may exclude from the Shelf Registration the Registrable Securities of each Investor or Permitted Transferee who fails to furnish
such information within a reasonable time after receiving such written request. Each Investor and Permitted Transferee shall furnish such
information to the Company and otherwise cooperate with the Company as reasonably necessary to enable the Company to comply with the provisions
of this Agreement.

 

2.5            Expenses.
All expenses incident to the Company’s performance of or compliance with this Article 2, including without limitation
all registration and filing fees, fees and expenses of compliance with securities or blue sky laws, printing expenses, messenger and delivery
expenses, and fees and disbursements of counsel for the Company and all independent certified public accountants and other Persons retained
by the Company, and the reasonable fees and expenses of one counsel to the Investors holding Registrable Securities (such counsel fees
not to exceed US$20,000) shall be borne by the Company. Any underwriting discounts and commissions relating to Registrable Securities
shall be borne by the sellers of the Registrable Securities sold pursuant to the Shelf Registration Statement.

 

2.6            Indemnification.

 

(a)            The
Company shall indemnify, to the extent permitted by law, each holder of Registrable Securities, its officers, directors, managers,
managing members and each Person who controls such holder (within the meaning of the Securities Act) against all losses, claims,
damages, liabilities and expenses resulting from (i) any untrue or alleged untrue statement of material fact contained in the
Shelf Registration Statement or any prospectus or preliminary prospectus included therein, or in any amendment thereof or supplement
thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements
therein not misleading or (ii) any other violation by the Company of the Securities Act or other laws relating to the Shelf
Registration, except insofar as the same are caused by or contained in any information furnished in writing to the Company by such
holder expressly for use therein or by such holder’s failure to deliver a copy of the Shelf Registration Statement or any
prospectus or preliminary prospectus included therein or any amendments or supplements thereto after the Company has furnished such
holder with a sufficient number of copies of the same. Notwithstanding anything in this Agreement to the contrary, the obligations
of the Company under this Section 2.6(a) shall not apply to amounts paid in settlement of any such loss, claim,
damage, liability or expense if such settlement is effected without the consent of the Company (which consent shall not be
unreasonably withheld or delayed).

 

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(b)            Each
holder of Registrable Securities shall severally indemnify the Company, its directors and officers and each Person who controls the Company
(within the meaning of the Securities Act) against any losses, claims, damages, liabilities and expenses resulting from any untrue or
alleged untrue statement of material fact contained in the Shelf Registration Statement or any prospectus or preliminary prospectus included
therein or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein
or necessary to make the statements therein not misleading, but only to the extent that such untrue statement or omission is contained
in any information furnished in writing to the Company by such holder expressly for use therein, provided that in no event shall the indemnity
provided for in this Section 2.6(b) exceed the gross proceeds from the offering received by the indemnifying holder.

 

(c)            Any
Person entitled to indemnification hereunder shall (i) give prompt written notice to the indemnifying party of any claim with respect
to which it seeks indemnification and (ii) unless in such indemnified party’s reasonable judgment a conflict of interest between
such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of
such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not
be subject to any liability for any settlement made by the indemnified party without its consent (but such consent shall not be unreasonably
withheld). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay
the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless
in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other of such
indemnified parties with respect to such claim.

 

(d)            If
the indemnification provided for in this Section 2.6 is held by a court of competent jurisdiction to be unavailable to an
indemnified party with respect to any losses, claims, damages or liabilities referred to herein, the indemnifying party, in lieu of indemnifying
such indemnified party thereunder, shall, to the extent permitted by applicable law, contribute to the amount paid or payable by such
indemnified party as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect the relative fault
of the indemnifying party on the one hand and of the indemnified party on the other in connection with the violation(s) that resulted
in such loss, claim, damage or liability, as well as any other relevant equitable considerations. The relative fault of the indemnifying
party and of the indemnified party shall be determined by a court of law by reference to, among other things, whether the untrue (or alleged
untrue) statement of a material fact or the omission (or alleged omission) to state a material fact relates to information supplied by
the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity
to correct or prevent such statement or omission; provided, that in no event shall any contribution by a holder of Registrable
Securities hereunder exceed the net proceeds from the offering received by such holder.

 

    	 	7	 

     

    

 

2.7            Lock-Up.

 

(a)            Each
Investor holding Registrable Securities shall not sell or otherwise transfer, make any short sale of, grant any option for the purchase
of, or enter into any hedging or similar transaction with the same economic effect as a sale, of any Company Securities held by such holder
during the period (the “Lock-up Period”) commencing on the effective date of the registration statement for an IPO
and ending on the date specified by the Company or the managing underwriter of such IPO (it being understood that the Lock-up Period shall
not in any event exceed 180 days). The obligations described in this Section 2.7 shall not apply to a registration relating
solely to a transaction on Form S-4 or similar forms that may be promulgated in the future. The Company may impose stop-transfer
instructions and may stamp each certificate or other document representing Company Securities with the legend set forth in Section 2.7(b) or
a substantially similar legend with respect to Company Securities subject to the foregoing restriction until the end of the Lock-up Period.
Each holder of Registrable Securities agrees to execute a market standoff agreement with said underwriters in customary form consistent
with the provisions of this Section 2.7.

 

(b)            The
Company may stamp each certificate or other document representing Company Securities with the following legend or a substantially similar
legend with respect to Company Securities subject to the restriction set forth in Section 2.7(a) until the end of the
Lock-up Period:

 

“THE SECURITIES REPRESENTED BY
THIS CERTIFICATE ARE SUBJECT TO THE CONDITIONS ON TRANSFER SPECIFIED IN THE REGISTRATION RIGHTS AGREEMENT DATED AS OF NOVEMBER             ,
2021, BY AND AMONG THE COMPANY AND THE OTHER PARTY(IES) THERETO, AS THE SAME MAY BE AMENDED, RESTATED OR OTHERWISE MODIFIED FROM
TIME TO TIME. UPON WRITTEN REQUEST, A COPY OF SUCH CONDITIONS WILL BE FURNISHED BY THE COMPANY TO THE HOLDER HEREOF WITHOUT CHARGE.”

 

2.8            Termination
and Effective Termination. This Agreement shall terminate on the earliest of (a) the second anniversary of the date hereof, provided
that prior to such date (i) the IPO has not occurred and (ii) the Company has not otherwise become subject to the periodic reporting
requirements of the Exchange Act, (b) the date determined by the Company in accordance with Section 2.1(b) (based
on written advice of its counsel) and (c) the first date as of which the Investors no longer hold any Registrable Securities, except
in each case for the provisions of Section 2.6, which shall survive any such termination of this Agreement. No termination of this
Agreement shall relieve any Person of liability for breach of Section 2.5 for expenses incurred prior to termination.

 

ARTICLE 3

MISCELLANEOUS PROVISIONS

 

3.1            Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall serve as an original of the party executing the same,
but all of which shall constitute but one and the same Agreement.

 

3.2            Binding
Agreement. This Agreement shall be binding upon the parties hereto, their heirs, administrators, executors, successors and
assigns, and the parties hereto do covenant and agree that they themselves and their heirs, executors, administrators, successors
and assigns shall execute any and all instruments, releases, assignments, and consents that may be required of them in accordance
with the provisions of this Agreement.

 

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3.3            Headings.
All headings set forth in this Agreement are intended for convenience only and shall not control or affect the meaning, construction or
effect of this Agreement or of any of the provisions hereof.

 

3.4            Other
Interpretive Matters. For purposes of this Agreement, (a) when calculating the period of time before which, within which or following
which any act is to be done or step taken pursuant to this Agreement, the date that is the reference date in calculating such period is
excluded, and if the last day of such period is a non-Business Day, the period in question ends on the next succeeding Business Day, (b) unless
the context otherwise requires, all references in this Agreement to any “Article,” “Section,” “Schedule”
or “Exhibit” are to the corresponding Article, Section, Schedule or Exhibit of this Agreement, and (c) the word
 “including,” or any variation thereof, means “including without limitation” and does not limit any
general statement that it follows to the specific or similar items or matters immediately following it.

 

3.5            Singular
and Plural. As used herein, the singular shall include the plural, the plural shall include the singular and any use of the male,
female or neuter gender shall include the other genders, all wherever the same shall be applicable and when the context shall admit or
require.

 

3.6            Enforceability.
The determination by a court of competent jurisdiction that any particular provision of this Agreement is unenforceable or invalid shall
not affect the enforceability of or invalidate the other provisions hereof, and this Agreement shall be construed in all respects as if
such invalid or unenforceable provision had never been part hereof and were omitted from this Agreement. Upon such a determination, the
parties shall negotiate in good faith to modify this Agreement so as to give effect to the original intent of the parties as closely as
possible, so that the transactions contemplated hereby may be consummated as originally contemplated to the fullest extent possible.

 

3.7            Waivers.
Any waiver, permission, consent or approval of any kind or nature by any party hereto, of or with respect to any breach or default under
this Agreement, and any other waiver of any provision of this Agreement by any party hereto, must be in writing and shall be effective
only in the specific instance and for the specific purpose given, and shall be effective only to the extent in such writing specifically
set forth, and the same shall not operate or be construed as a waiver of any subsequent breach or default by any party hereto, including
the party to whom originally given.

 

3.8            Amendments.
This Agreement may be amended, modified or waived in whole or in part only by a writing signed by holders of Registrable Securities that,
as of the effective date of such amendment, modification or waiver, own a majority of the Registrable Securities then outstanding, and
by the Company. Each such amendment, modification or waiver shall be binding upon each party hereto.

 

3.9            Notices.
Any notice required or permitted hereunder shall be given in writing, addressed to the notice recipient at the address shown on Schedule
A hereto. If the Company is the notice recipient, the notice shall be copied via email to the Company’s Corporate Secretary
at the email address noted on Schedule A. The notice shall be sent by first class mail, postage prepaid, return receipt requested,
by nationally recognized overnight parcel delivery service for next day delivery, by facsimile or other electronic communication; or
by hand delivery with a receipt confirmation requested. Notice given in accordance with this paragraph shall be presumed to have been
delivered and received five (5) days after mailing if sent by first class mail, one day after mailing if sent for next day delivery
by overnight parcel delivery service, and on the day of delivery if by facsimile or other electronic communication or hand delivered.

 

    	 	9	 

     

    

 

3.10          Entire
Agreement. This Agreement constitutes the entire agreement of the parties hereto with respect to the subject matter hereof, and supersedes
all prior agreements and understandings of the parties hereto, oral or written, with respect to the subject matter hereof.

 

3.11          Assignment
of Rights.

 

The rights of the Investors hereunder may be assigned
(but only with all related obligations as set forth below) in connection with a transfer of Company Securities to a Permitted Transferee
of the Investor; provided, however, that (i) the transferor shall, not less than ten (10) days prior to such transfer,
furnish the Company with written notice of the name and address of such Permitted Transferee and the Registrable Securities with respect
to which such registration rights are being assigned; and (ii) such Permitted Transferee shall acquire such Registrable Securities
in a transaction that complies with the Securities Act and all other applicable laws and shall agree to be subject to all applicable restrictions
set forth in the Assignment Agreement and this Agreement. Without prejudice to any other or similar conditions imposed hereunder with
respect to any such transfer, no assignment permitted under the terms of this Section 3.11 will be effective unless the Permitted
Transferee to which the assignment is being made, if not an Investor, has delivered to the Company an executed copy of the Joinder. For
the avoidance of doubt, no assignment, transfer or other disposition of Company Securities may be made by any Investor unless the transferee
agrees in writing to be bound by the provisions of Section 2.7.

 

3.12          Regulation
S.

 

Notwithstanding anything in this Agreement to the
contrary, none of the Investors or their respective Permitted Transferees will offer, sell or otherwise dispose of any CAR Shares in the
United States or to a U.S. Person (as defined in Rule 902(k) of Regulation S under the Securities Act) unless such offer, sale
or disposition is made in accordance with an exemption from the registration requirements under the Securities Act and the securities
laws of all applicable states of the United States or the Commission has declared effective a registration statement in respect of such
CAR Shares.

 

3.13          Successors
and Assigns. Except as otherwise expressly provided in this Agreement, this Agreement shall benefit and bind the successors, permitted
assigns, heirs, executors and administrators of the parties to this Agreement.

 

3.14          Stock
Splits, Etc. All references to numbers of shares in this Agreement shall be appropriately adjusted to reflect any stock
dividend, split, combination, recapitalization of shares or membership interests or other similar transaction occurring after the
date of this Agreement.

 

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3.15          Remedies.
Each party hereto, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
to specific performance of its rights under this Agreement. Each party hereto agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Agreement and hereby agrees to waive the defense in any action
for specific performance that a remedy at law would be adequate.

 

3.16          Governing
Law. This Agreement shall be deemed to be a contract governed by the laws of the State of Delaware and shall for all purposes (whether
in contract or in tort) be construed in accordance with the laws of such state, without reference to the conflicts of laws provisions
thereof.

 

3.17          Submission
to Jurisdiction. The parties hereto hereby irrevocably submit to the jurisdiction of the courts of the State of Delaware sitting in
New Castle County over any action or proceeding arising out of or relating to this Agreement, and each party hereto hereby irrevocably
agrees that all claims in respect of such action or proceeding may be heard and determined in such courts. The parties hereto hereby irrevocably
waive any objection which they may now or hereafter have to the laying of venue of such action or proceeding brought in such court or
any claim that such action or proceeding brought in such court has been brought in an inconvenient forum. Each of the parties hereto hereby
irrevocably consents to process being served by any party to this Agreement in any action or proceeding by delivery of a copy thereof
in accordance with the provisions of Section 3.9.

 

3.18          Waiver
of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT
TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

3.19          Representations
and Warranties. Each party hereto represents and warrants to each other party hereto that (a) it is authorized to execute this
Agreement, (b) it has full power and authority to enter into this Agreement and perform its obligations hereunder, (c) this
Agreement is duly executed and delivered by it and constitutes the valid and binding agreement of such party, enforceable against such
party in accordance with its terms, and (d) it has full knowledge of the terms of this Agreement and has consented to this Agreement.

 

[THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY
LEFT BLANK.]

 

    	 	11	 

     

    

 

IN
WITNESS WHEREOF, the parties have caused this Registration Rights Agreement to be executed, by their duly authorized officers
or managers, as of the same day and year first above written.

 

	 	IVANHOE ELECTRIC INC.
	 	 	 
	 	By:	/s/ Eric J. Finlayson
	 	Name:	Eric J. Finlayson
	 	Title:	President
	 	 
	 	CENTRAL ARIZONA RESOURCES, LLC
	 	 	 
	 	By:	
	 	Name:	
	 	Title:	Managing Member

 

[Signature page to
Registration Rights Agreement]

 

    	 	 	 

     

    

 

EXHIBIT A

 

FORM OF JOINDER AGREEMENT

 

This
JOINDER AGREEMENT (this “Agreement”), dated as of __ 20____, is entered into by and between IVANHOE
ELECTRIC INC., a Delaware corporation (the “Company”), and  _____________ (“Joining
Party”).

 

RECITALS

 

WHEREAS,
the Company and certain other parties are parties to a Registration Rights Agreement dated as of [•], 2021 (the “Registration
Rights Agreement”);

 

WHEREAS,
in accordance with the terms of the Registration Rights Agreement, upon the transfer or sale of any Company Securities, the
transferee must join the Registration Rights Agreement as a party thereto;

 

WHEREAS,
 ____________ has transferred Company Securities to Joining Party pursuant to  __________; and

 

WHEREAS,
Joining Party agrees to be bound by the Registration Rights Agreement.

 

NOW,
THEREFORE, for good and valuable consideration, receipt and adequacy of which are hereby acknowledged, the parties hereto,
intending to be legally bound hereby, agree as follows:

 

1.            All
defined terms used but not otherwise defined herein have the meanings ascribed to such terms in the Registration Rights Agreement.

 

2.            Joining
Party acknowledges receipt of a copy of the Registration Rights Agreement and, after review and examination thereof, agrees to be bound
as an Investor by all the terms and provisions thereof.

 

3.            The
Company hereby (a) accepts Joining Party’s agreement to be bound as an Investor by the Registration Rights Agreement and (b) agrees
that the Registration Rights Agreement is hereby amended to include Joining Party as a party thereto.

 

IN
WITNESS WHEREOF, the parties hereto have duly executed this Joinder Agreement as of the day and year first above written.

 

	 	IVANHOE ELECTRIC INC.
	 	 
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	[JOINING PARTY]
	 	 
	 	By:	 
	 	Name:	 
	 	Title:Exhibit 10.10

 

AGREEMENT AMENDMENT

 

THIS AGREEMENT is entered into effective as of 1 January 2016.

 

AMONG:

 

Global
Mining Management (BVI) Corp., a British Virgin Islands corporation having an office at #654-999 Canada Place, Vancouver, British
Columbia Canada V6C 3E1

 

(hereinafter called the “Global”)

 

AND

 

Global
Mining Management Corporation, a British Columbia corporation having an office at #654-999 Canada Place, Vancouver, British
Columbia Canada V6C 3E1

 

(hereinafter called the “Holdco”)

 

AND:

 

THE
SHAREHOLDERS OF GLOBAL MINING MANAGEMENT (BVI) CORP., listed on Schedule “A” hereto.

 

(hereinafter called the “Operating Corporate Shareholders”)

 

WHEREAS:

 

		A.	The Operating Corporate Shareholders, Holdco and Global entered into an Amended and Restated Shareholders’ Corporate Management
and Cost Sharing Agreement dated December 4, 2013 (the “Agreement”), and,

 

		B.	The Operating Corporate Shareholders and Global wish to amend the Agreement upon the terms and conditions hereinafter set forth.

 

NOW THEREFORE, in consideration of the premises and of the covenants
and conditions hereinafter set forth., the parties hereto agree as follows:

 

		1.	Section 2 of the Agreement be amended to include the following:

 

“2.8     In the event
that a party wishes to unilaterally terminate its participation in this Agreement for any reason, this Agreement may be terminated by
such party with effect sixty (60) days after written notice of such unilateral termination is given to each other party.”

 

In addition, if any of the Operating Corporate
Shareholders undergoes a “change of control”, then any other party to this Agreement may, on written notice to the
Operating Corporate Shareholder that has undergone the “change of control”, require it relinquish to the issuer of
the security the entirety of its shareholding in Global for no consideration, such relinquishment to be completed not later than
five (5) calendar days after the receipt of such notice.

 

     Page 1 of 19

    

    

 

For the purposes of the foregoing paragraph, a “change
of control” shall be deemed to have occurred to an Operating Corporate. Shareholder if (a) any person, or combination of persons,
acting jointly or in concert by virtue of any agreement, arrangement, commitment or understanding, comes to own or control more than 50%
of the voting rights attached to all outstanding voting securities of the Operating Corporate Shareholder, or (b) any person, or
combination of persons, acting jointly or in concert by virtue of any agreement, arrangement, commitment or understanding, comes to have
the legally enforceable right to elect or appoint a majority of the directors of the Operating Corporate Shareholder, or (c) there
occurs a consolidation, merger, amalgamation, arrangement or other reorganization or acquisition involving the Operating Corporate Shareholder
and another entity or corporation, as a result of which the holders of the outstanding voting securities of the Operating Corporate Shareholder
hold less than 50% of the outstanding voting securities of the successor entity or corporation after completion of such transaction.

 

		2.	Save and except as herein amended, the Agreement shall be and remains in full force and effect.

 

IN WITNESS WHEREOF the parties have executed these presents
as of the day and the year first above written.

 

	Global Mining Management (BVI) Corp.	 
	 	 	 
	Per:	/s/ Leslie Lowry	 
	 	Leslie Lowry, Authorized Signatory	 
	 	 	 
	Global Mining Management Corporation	 
	 	 	 
	Per:	/s/ Leslie Lowry	 
	 	Leslie Lowry, Authorized Signatory	 

 

     Page 2 of 19

    

    

 

SCHEDULE “A”

 

OPERATING CORPORATE SHAREHOLDERS

 

The undersigned hereby acknowledges and agrees to be bound by the terms
of the Amended and Restated Shareholders’ Corporate Management and Cost Sharing Agreement made as of the 4th day of December 2013,
and amended January 1, 2016, among the undersigned, Global Mining Management (BVI) Corp. and Global Mining Management Corporation.

 

	Shareholder: JD Holding Inc.	 
	 	 	 
	Per:	/s/ David Baker	 
	 	Name:	David Baker	 
	 	Position:	Chief Financial Officer	 

 

Signed this 19th day of July, 2017

 

     Page 3 of 19

    

    

 

SCHEDULE “A”

OPERATING CORPORATE SHAREHOLDERS

 

The undersigned hereby acknowledges and agrees to the amendment to
the Amended and Restated Shareholders’ Corporate Management and Cost Sharing Agreement dated December 4, 2013.

 

Signed this         day of February, 2016.

 

	SHAREHOLDER: KAIZEN DISCOVERY INC.	 
	 	 	 
	Per:		 
	 	Name:	 
	 	Position:	 

 

     Page 4 of 19

    

    

 

SCHEDULE “A”

OPERATING CORPORATE SHAREHOLDERS

 

The undersigned hereby acknowledges and agrees to the amendment to
the Amended and Restated Shareholders’ Corporate Management and Cost Sharing Agreement dated December 4, 2013.

 

Signed this 18 day of February, 2016.

 

	SHAREHOLDER: IVANHOE MINES LTD.	 
	 	 	 
	Per:		 
	 	Name: 	 	 
	 	Position:	  	 

 

     Page 5 of 19

    

    

 

SCHEDULE “A”

OPERATING CORPORATE SHAREHOLDERS

 

The undersigned hereby acknowledges and agrees to the amendment to
the Amended and Restated Shareholders’ Corporate Management and Cost Sharing Agreement dated December 4, 2013.

 

Signed this 16 day of February, 2016.

 

	SHAREHOLDER: GOVIEX URANIUM INC.	 
	 	 	 
	Per:	/s/ Daniel Major	 
	 	Name: Daniel Major	 
	 	Position: Chief Executive Officer	 

 

     Page 6 of 19

    

    

 

SCHEDULE “A”

OPERATING CORPORATE SHAREHOLDERS

 

The undersigned hereby acknowledges and agrees to the amendment to
the Amended and Restated Shareholders’ Corporate Management and Cost Sharing Agreement dated December 4, 2013.

 

Signed this 29 day of January, 2016.

 

	SHAREHOLDER: IVANHOE CAPITAL CORPORATION	 
	 	 	 
	Per:		 
	 	Name: 		 
	 	Position: 	Vice President & Secretary	 

 

     Page 7 of 19

    

    

 

SCHEDULE “A”

OPERATING CORPORATE SHAREHOLDERS

 

The undersigned hereby acknowledges and agrees to the amendment to
the Amended and Restated Shareholders’ Corporate Management and Cost Sharing Agreement dated December 4, 2013.

 

Signed this 29 day of January. 2016.

 

	SHAREHOLDER: IVANHOE CAPITAL FINANCE LTD.	 
	 	 	 
	Per:		 
	 	Name: 		 
	 	Position: 	Vice President	 

 

     Page 8 of 19

    

    

 

SCHEDULE “A”

OPERATING CORPORATE SHAREHOLDERS

 

The undersigned hereby acknowledges and agrees to the amendment to
the Amended and Restated Shareholders’ Corporate Management and Cost Sharing Agreement dated December 4, 2013.

 

Signed this 29 day of January, 2016.

 

	SHAREHOLDER: I-PULSE INC.	 
	 	 	 
	Per:		 
	 	Name: 	 	 
	 	Position: 	Vice President & Secretary	 

 

     Page 9 of 19

    

    

 

SCHEDULE “A”

OPERATING CORPORATE SHAREHOLDERS

 

The undersigned hereby acknowledges and agrees to the amendment to
the Amended and Restated Shareholders’ Corporate Management and Cost Sharing Agreement dated December 4, 2013.

 

Signed this 29 day of January, 2016.

 

	SHAREHOLDER: HIGH POWER EXPLORATION INC.	 
	 	 	 
	Per:		 
	 	Name: 	 	 
	 	Position: 	Secretary	 

 

     Page 10 of 19

    

    

 

AMENDED AND RESTATED SHAREHOLDERS’ CORPORATE
MANAGEMENT AND COST SHARING AGREEMENT

 

THIS AGREEMENT made as of the 4th day of Dec, 2013

 

AMONG:

 

THE
SHAREHOLDERS OF GLOBAL MINING MANAGEMENT (BVI) CORP. (the “Operating Corporate Shareholders”)

 

AND:

 

GLOBAL
MINING MANAGEMENT (BVI) CORP., a company incorporated under the laws of the British Virgin Islands

 

(“Holdco”)

 

AND:

 

GLOBAL
MINING MANAGEMENT CORPORATION, a company incorporated under the laws of British Columbia

 

(“Global”)

 

WHEREAS:

 

		(A)	each of the Operating Corporate Shareholders has subscribed, or will subscribe, for an equal number of shares of Holdco and the shares
of Holdco owned, or to be owned, by the Operating Corporate Shareholders constitute, or will constitute, in the aggregate, all of the
issued and outstanding shares of Holdco;

 

		(B)	Holdco owns, all of the issued and outstanding shares of Global;

 

		(C)	each of the Operating Corporate Shareholders is a corporation engaged in one or more active businesses inside or outside Canada;

 

		(D)	in carrying on their various businesses, the Operating Corporate
Shareholders share, on the terms herein provided,

 

		(1)	office space, furnishings, equipment and communications facilities, (collectively, the “Shared Office Facilities”), and

 

		(2)	the employment, each on a shared basis, of various administrative, office and management personnel (the “Shared Employees”)
who provide various services to one or more Operating Corporate Shareholders including, without limitation, accounting, corporate secretarial,
administrative, human resources, financing, legal, IT and management services, necessary to fulfill the day-to-day responsibilities
imposed on them, to carry out and ensure compliance with the regulatory requirements applicable to them and generally to carry on their
businesses.

 

		(E)	the Operating Corporate Shareholders have caused Holdco to be incorporated to hold the shares of Global and have caused Global to
be incorporated to:

 

		(1)	facilitate and simplify, as agent for the Operating Corporate Shareholders, the payment of the Shared Employees, and

 

     Page 11 of 19

    

    

 

		(2)	provide the Shared Office Facilities to the Operating Companies on a cost recovery basis, and

 

		(F)	the parties wish to memorialize the basis on which the Operating Corporate Shareholders share the Shared Employees and Shared Office
Facilities through Global and the basis upon which they share the corporate governance and ownership of Global through Holdco.

 

NOW
THEREFORE THIS AGREEMENT WITNESSES that in consideration of the premises, the parties covenant and agree as follows:

 

		1.	PARTIES

 

		1.1	The parties to this Agreement are Holdco, Global and the Operating Corporate Shareholders and, for the purposes of this Agreement,
the term “Operating Corporate Shareholders” is intended to include all of the shareholders, from time to time, of Holdco.

 

		1.2	Each of the Operating Corporate Shareholders, by executing Schedule “A” to this Agreement, covenants and agrees to be
bound by the terms of this Agreement.

 

		1.3	No shares of Holdco will be issued to any person until such person has agreed in writing to become a party to this Agreement and to
assume and be bound by all of the obligations applicable to an Operating Corporate Shareholder under this Agreement.

 

		1.4	Any Operating Corporate Shareholder that ceases to be a shareholder of Holdco will, as of the date it ceases to be a shareholder,
cease to be a party to this Agreement and will be released from all obligations applicable to an Operating Corporate Shareholder under
this Agreement other than:

 

(a)          the
confidentiality obligations set out in Section 7.1; and

 

		(b)	any unfulfilled obligations in existence as of the date of cessation including, without limitation, any delinquent obligation to advance
funds to Global in respect of Shared Employees or Shared Office Facilities.

 

		1.5	Each of the parties to this Agreement hereby consents to:

 

		(a)	the addition, from time to time, of further parties to this
Agreement as Operating Corporate Shareholders; and

 

		(b)	the deletion, from time to time, of existing parties to this Agreement (other than Holdco or Global) who cease to be shareholders
of Holdco.

 

on the terms herein provided and each of the parties to this
Agreement hereby acknowledges and agrees that any such addition or deletion will be deemed not to be an amendment of this Agreement and
will not require the assent by, or any further act of, any subsisting Operating Corporate Shareholder in order to be effective.

 

     Page 12 of 19

    

    

 

		1.6	This Agreement will be deemed to be the subscription agreement pursuant to which each of the Operating Corporate Shareholders subscribes
for its shares in Holdco.

 

		2.	SHAREHOLDINGS OF HOLDCO

 

		2.1	Each Operating Corporate Shareholder will, at all times, hold an equal number of shares of Holdco and all of the shares of Holdco
will, at all times, rank pari passu.

 

		2.2	As of the date of this Agreement, Holdco has issued to each of the Operating Corporate Shareholders listed in Schedule “A”,
one (1) share of Holdco in consideration for the payment by each such Operating Corporate Shareholder of the sum of Cdn. $2.00, of
which, in each case, the sum of Cdn. $1.00 has been designated as capital and the sum of Cdn. $1.00 has been designated as surplus.

 

		2.3	Subject only to the express terms of this Agreement, the directors of Holdco may, at any time in their absolute discretion, issue
shares of Holdco to any person, on the terms described in Section 2.2, provided that, in conjunction therewith, the subscriber agrees
in writing to become an Operating Corporate Shareholder under this Agreement in accordance with Section 1.3.

 

		2.4	Any Operating Corporate Shareholder may, subject to Section 1.4, voluntarily withdraw from this Agreement by surrendering to
Holdco, in consideration of the sum of Cdn.$1.00 per share, its share in Holdco upon not less than 90 days written notice to Holdco.

 

		2.5	If, at any time or for any reason, whether within or beyond the control of an Operating Corporate Shareholder, any of the following
events occurs with respect to an Operating Corporate Shareholder (the “Defaulting Shareholder”), Holdco may, by notice (a
 “Default Notice”) in writing delivered to the Defaulting Shareholder, acquire all of the Defaulting Shareholder’s shares
of Holdco at a price of Cdn.$1.00 per share:

 

		(a)	the Defaulting Shareholder commits a material breach of any provision of this Agreement and, if capable of remedy, fails to take all
necessary action to remedy such breach within 60 days after notice thereof from Holdco; or

 

		(b)	the Defaulting Shareholder commits an act of bankruptcy, proposes a compromise or arrangement to its creditors generally, has a petition
in bankruptcy filed against it, makes a voluntary assignment in bankruptcy or takes any proceeding to have itself wound up or declared
bankrupt or has a receiver or receiver-manager appointed in respect of all or any portion of its assets or business.

 

		2.6	Notwithstanding any other provision of this Agreement, no Operating Corporate Shareholder will sell, assign, transfer or otherwise
dispose of any of its shares of Holdco except to Holdco without the prior written consent of Holdco.

 

		2.7	Each certificate representing shares of Holdco will be endorsed with a legend to the effect that such shares are subject to the terms
of this Agreement.

 

     Page 13 of 19

    

    

 

		3.	DIRECTORS AND OFFICERS OF HOLDCO AND GLOBAL

 

		3.1	Until replaced in accordance with the Memorandum and Articles of Holdco, the board of directors of Holdco will consist of the following
persons:

 

Beverly Downing

Pierre Masse

Penny Schattenkirk

Leslie Lowry

 

		3.2	The officers of Holdco will be appointed by, and will hold office at the pleasure of, the board of directors of Holdco.

 

		3.3	Holdco, as the sole shareholder of Global will elect or appoint, from time to time, the directors of Global in accordance with the
Memorandum and Articles of Global.

 

		3.4	The officers of Global will be appointed by, and will hold office
at the pleasure of, the board of directors of Global.

 

		4.	TERM OF AGREEMENT

 

		4.1	This Agreement will continue in force for a period of 21 years less one day after the death of the last survivor of the issue of Her
Majesty Queen Elizabeth II living on the date of this Agreement unless earlier terminated pursuant to Section 4.2.

 

		4.2	This Agreement may be terminated earlier than provided in Section 4.1 by unanimous written agreement of Holdco, Global and each
of the Operating Corporate Shareholders and will be deemed to be immediately terminated if:

 

		(a)	at any time Holdco has only one Operating Corporate Shareholder;
or

 

		(b)	Holdco and Global are wound up and dissolved.

 

		5.	SHARED EMPLOYEE

 

		5.1	The Operating Corporate Shareholders will co-operate in hiring and employing the Shared Employees, and in particular will cause and
procure that:

 

		(a)	each Shared Employee is, subject to Section 5.4, remunerated at the same gross rate of salary and receives the same benefits
from each Operating Corporate Shareholder that employs the employee;

 

		(b)	each Operating Corporate Shareholder will maintain appropriate records of the time spent by each Shared Employee in providing employment
services to the Operating Corporate Shareholder; and

 

     Page 14 of 19

    

    

 

		(c)	each Operating Corporate Shareholder will, in respect of each Shared Employee and in time to permit Global to carry out its obligations
under Section 5.2, advance to Global on a monthly basis, as agent of the Operating Corporate Shareholder, that proportion of the
gross salary, benefit costs, and any other amounts required to be paid by the Operating Corporate Shareholder in respect of its employment
of the Shared Employee for the relevant period, equal to the proportion that:

 

		(i)	the number of hours spent by the Shared Employee in the relevant period on matters pertaining to the Operating Corporate Shareholder
is of;

 

		(ii)	the number of hours spent by the Shared Employee in the relevant period on matters pertaining to all Operating Corporate Shareholders.

 

		5.2	Global will, as agent for each Operating Corporate Shareholder, apply the funds advanced to it pursuant to Section 5.1(c) in
a timely manner to:

 

		(a)	make a bi-monthly payment to each Shared Employee equal to the aggregate of all amounts payable to the employee as salary, wages and
other remuneration by all the Operating Companies Shareholders for the relevant period, net of any statutory or other amounts required
or agreed to be withheld therefrom; and

 

		(b)	pay each Operating Corporate Shareholder’s share of all benefit costs, statutory or other withholding amounts and any other
amounts required or agreed to be paid by each Operating Corporate Shareholder in respect of each Shared Employee for the relevant period.

 

		5.3	For greater certainty, it is acknowledged and confirmed that each Shared Employee is and shall be an employee of each Operating Corporate
Shareholder that utilizes the services of the employee and is not and shall not be an employee of Global and that all acts that Global
shall do in connection with a Shared Employee shall be done as agent for each Operating Corporate Shareholder pro tanto.

 

		5.4	Notwithstanding the generality of Section 5.1(a), each Operating Corporate Shareholder may at any time and from time to time
grant employee stock options to one or more Shared Employees, and any such grant by an Operating Corporate Shareholder shall not impose
any obligation on any other Operating Corporate Shareholder to grant a similar employee stock option to the employee.

 

		5.5	Each Operating Corporate Shareholder shall provide Global with a deposit equal to three months estimated costs and shall increase
the deposit if the estimated costs increase for an extended period of time.

 

		6.	SHARED OFFICE FACILITIES

 

		6.1	Global will provide the Shared Office Facilities including, without limitation, such office space, equipment, furnishings, kitchen
facilities/supplies, general office supplies including long distance telephone calls, facsimile, delivery and courier services, and postage,
select insurance, cell phones and computers, special duplicating and printing services as the Operating Corporate Shareholders require.

 

     Page 15 of 19

    

    

 

		6.2	Unless a flat monthly rate is negotiated in advance, Global will recover from each Operating Corporate Shareholder on a monthly basis
that proportion of the monthly cost to it of the Shared Office Facilities that:

 

		(a)	the total time spent by Shared Employees on matters pertaining to the Operating Corporate Shareholder during the relevant month is
of.

 

		(b)	the total time spent by all Shared Employees on behalf of all Operating Corporate Shareholders during the relevant month.

 

		6.2.1	Global will present to each Operating Corporate Shareholder on a monthly basis a statement setting out the total cost of the Shared
Office Facilities for the relevant month and each Operating Corporate Shareholder’s share thereof, and each Operating Corporate
Shareholder will promptly on receipt thereof remit to Global the Operating Corporate Shareholder’s share of the cost of the Shared
Office Facilities for the relevant month as so presented.

 

		7.	CONFIDENTIALITY

 

		7.1	No party shall make any disclosure to third parties or to the public of any information relating to this Agreement or the parties
to this Agreement except with the approval of the board of directors of Holdco but the foregoing will not prohibit any disclosure by any
party to the extent required under applicable law or the rules and policies of any stock exchange or similar regulatory authority.

 

		8.	NON-WAIVER

 

		8.1	The failure of a party to insist upon strict adherence to any one or more of the terms of this Agreement on one or more occasions
will not be construed as a waiver of any such term by such party or deprive such party of the right to require strict compliance thereafter
with the same or any other term of this Agreement.

 

		9.	SEVERABILITY

 

		9.1	If any portion of this Agreement is held to be invalid or unenforceable by a court of competent jurisdiction, the remaining covenants
and restrictions or portions thereof will remain in full force and effect.

 

		10.	ASSIGNMENT

 

		10.1	The obligations and rights of a party under this Agreement may not be assigned or transferred without the prior written consent of
each of the other parties first being obtained.

 

		11.	GENERAL

 

		11.1	The headings used throughout this Agreement are inserted for reference purposes only and are not to be considered, or taken into account,
in interpreting the terms or provisions of this Agreement, nor to be deemed in any way to qualify, modify or affect any such terms or
provisions.

 

		11.2	This Agreement constitutes the entire agreement between the parties hereto in relation to the subject matter hereof and replaces and
supersedes all prior agreements, memoranda, correspondence, communications, negotiations and representations, whether verbal or written,
expressed or implied, statutory or otherwise the parties hereto with respect to the subject matter herein.

 

     Page 16 of 19

    

    

 

		11.3	Except as otherwise expressly provided herein, this Agreement may only be changed or modified by an agreement in writing signed by
the parties hereto.

 

		11.4	This Agreement will be governed by and interpreted in accordance with the laws of British Columbia, and the courts and arbitrators
of British Columbia will have exclusive jurisdiction.

 

		11.5	The parties will each do, or cause to be done, all acts or things necessary to implement and carry into effect this Agreement to the
full extent contemplated hereby.

 

[Signature page to follow]

 

     Page 17 of 19

    

    

 

IN
WITNESS WHEREOF Holdco, Global and each of the Operating Corporate Shareholders have executed this Agreement as of the day
and year first above written.

 

	GLOBAL MINING MANAGEMENT BVI) CORP.	 
	 	 	 
	Per:	/s/ B Downing	 
	 	 	 
	Name:	B Downing	 
	 	 	 
	Position:	President	 
	 	 
	GLOBAL MINING MANAGEMENT CORPORATION	 
	 	 	 
	Per:	/s/ B Downing	 
	 	 	 
	Name:	B Downing	 
	 	 	 
	Position:	President	 

 

     Page 18 of 19

    

    

 

SCHEDULE “A”

 

OPERATING CORPORATE SHAREHOLDERS

 

The undersigned hereby acknowledge and agree to be bound by the terms
of the Shareholders’ Corporate Management and Cost Sharing Agreement made as of the 4th day of December 2013 among
the undersigned, Global Mining Management (BVI) Corp, and Global Mining Management Corporation.

 

	Per:	 	 
	 	Name:	 
	 	Position:	 

 

     Page 19 of 19

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