Document:

EX-10.1

CERTIFICATE OF AMENDMENT

TO THE CERTIFICATE OF INCORPORATION

OF

TECHNISCAN, INC.

TechniScan, Inc. (the “Corporation”), does hereby certify that the Corporation’s Certificate
of Incorporation originally filed with the Delaware Secretary of State on September 4, 2009, as
amended on October 8, 2009 and as further amended on October 9, 2009, is hereby amended pursuant to
Section 242 of the General Corporation Law of the State of Delaware.

The Corporation does hereby further certify that this Certificate of Amendment was duly
adopted by the Corporation’s Board of Directors and by the stockholders of the Corporation in
accordance with the applicable provisions of Section 242 of the General Corporation Law of the
State of Delaware.

The Certificate of Incorporation of the Corporation, as amended, is further amended as
follows:

Article 4 of the Certificate of Incorporation, as amended, shall be deleted in its entirety
and replaced with the following:

“The total number of shares of all classes of stock which the
Corporation shall have the authority to issue is 150,000,000 shares of
common stock, par value $0.001 per share (the “Common Stock”).

Upon the effectiveness of the Certificate of Amendment of the
Certificate of Incorporation (the “Effective Time”), each 4 shares of Common
Stock (“Old Common Stock”), issued and outstanding immediately prior to the
Effective Time will automatically and without any action on the part of the
respective holders thereof, be combined and reclassified into one (1) share
of Common Stock (the “New Common Stock”) (and such combination and
conversion, the “Reverse Stock Split”). Notwithstanding the immediately
preceding sentence, no fractional shares of New Common Stock shall be issued
to the holders of record of Old Common Stock in connection with the Reverse
Stock Split and the Corporation shall not recognize on its stock record
books any purported transfer of any fractional share of New Common Stock.
In lieu thereof, all fractional shares will be rounded up to the next whole
share on a certificate basis to holders thereof who would otherwise be
entitled to receive fractional shares, except for the provisions hereof,
upon surrender of certificates representing those shares to the
Corporation’s transfer agent. The ownership of such fractional interests
shall not entitle the holder thereof to any voting, dividend or other right,
except the right to receive payment therefor as described above. Each stock
certificate that, immediately prior to the Effective Time, represented
            shares of Old Common Stock shall, from and after the Effective Time,
automatically and without the necessity of presenting the same for exchange,
represent that number of whole shares of New Common Stock into which the
            shares of Old Common Stock represented by such certificate shall have been
reclassified as set forth above, provided, however, that each holder of
record of a certificate that represented shares of Old Common Stock shall
receive, upon surrender of such certificate, a new certificate representing
the number of whole shares of New Common Stock into which the shares of Old
Common Stock represented by such certificate shall have been reclassified.”

The remainder of the Certificate of Incorporation, as amended, shall remain unchanged
and in full force and effect.

IN WITNESS WHEREOF, the Corporation has caused this Certificate of Amendment to be signed on June
18, 2010.

TECHNISCAN, INC.

 /s/ David C. Robinson

	 	 	Name: David C. Robinson

Title: Chief Executive Officer

STATE OF DELAWARE

CERTIFICATE OF CORRECTION

OF

TECHNISCAN, INC.

TechniScan, Inc., a corporation organized and existing under and by virtue of the General
Corporation Law of the State of Delaware.

DOES HEREBY CERTIFY:

1. The name of the corporation is TechniScan, Inc.

	2.	 	That a Certificate of Amendment to the Certificate of Incorporation was filed by the
Secretary of State of Delaware on June 18, 2010 and that said Certificate of Amendment
requires correction as permitted by Section 103 of the General Corporation Law of the State of
Delaware.

	3.	 	The Certificate of Amendment was not correct because it did not specify an effective time
subsequent to the time it was filed.

	4.	 	The Certificate of Amendment is hereby corrected to provide for an effective time of, and it
shall become effective on, June 28, 2010.

IN WITNESS WHEREOF, said corporation has caused this Certificate of Correction to be signed this
22nd day of June, 2010.

TechniScan, Inc.

By: /s/ Steven K. Passey

Name: Steven K. Passey

Title: Chief Financial Officerpzg_ex102.htm

EXHIBIT 10.2

 

LOAN AGREEMENT

 

THIS LOAN AGREEMENT is dated for reference June 22, 2010

BETWEEN:

X-CAL RESOURCES LTD.,

a corporation existing under the laws of British Columbia (“Borrower”)

AND:

PARAMOUNT GOLD AND SILVER CORP.,

a corporation existing under the laws of the Delaware

(“Lender”)

WHEREAS:

	
A.  

	
The Lender entered into an arrangement agreement with the Borrower dated June 22, 2010, as amended, supplemented, restated or replaced from time to time (the “Arrangement Agreement”);

	
B.  

	
The Lender has agreed to make a series of unsecured Loan Advances to the Borrower to be used by the Borrower for Expenditures in accordance with the budget set out in Schedule E of the Arrangement Agreement; and

	
C.  

	
The parties have agreed to set forth in this agreement (the “Loan Agreement”) the terms and conditions upon which such Loan Advances will be made.

THEREFORE, the parties agree as follows:

 

	1.	
Definitions. As used in the Agreement, the following terms have the following meanings:

	 	 	 
	 	“Expenditures” for all purposes of this Loan Agreement means all moneys expended by the Borrower in connection with working capital and property maintenance payments required to keep the X-Cal Properties in good standing and to complete the Arrangement.
	 	 	 
	 	“Repayment Date” means date the Credit Facility is due in accordance with section 3.1(c) of the Arrangement Agreement.
	 	 	 
	 	All other capitalized terms used herein but not defined in this Loan Agreement shall have the meanings given to them in the Arrangement Agreement.
	 	 	 
	2.	
Credit Facility.  Subject to the terms and conditions hereof: 

	 	 	 
	 	(a) 	an unsecured demand credit facility in the amount of US$1.1 million (the “Credit Facility”) is to be made available by the Lender to the Borrower as recorded by the Lender on the grid or grids attached hereto as Schedule “A” (the “Grid”); and

 

 

 

 

  

  

  

 

 

	 	(c) 	an advance of monies made by the Lender under the Credit Facility (a “Loan Advance”) will initially be made available upon delivery of a request for a Loan Advance, in the form attached hereto as Schedule “B” (the “Loan Advance Notice”), along with an initial monthly forecast of anticipated working capital requirements (initially, for July, 2010) (the “Monthly Forecast”), and a detailed list of disbursements in respect of the initial Loan Advance, and thereafter will be made available on a monthly basis on the first Business Day of each month upon delivery of a Loan Advance Notice, along with a Monthly Forecast for such month, and a detailed list of disbursements in respect of such Loan Advance.
	 	 	 
	3.	
Purpose. The proceeds of the Loan Advances shall be used by the Borrower solely for Expenditures approved by the Lender in its sole discretion, acting reasonably.

	 	 	 
	4.	
Conditions Precedent to Loan Advances. On or before a Loan Advance after the date of this Loan Agreement, the following conditions shall be met by the Borrower to the satisfaction of the Lender:

	 	 	 
	 	(a)	
the Borrower shall have delivered a Loan Advance Notice in respect of such Loan Advance, as well as a Monthly Forecast, and a detailed list of disbursements in respect of such Loan Advance, at least ten (10) days prior to the date of the Loan Advance; and

	 	 	 
	 	(b)	
such additional evidence, documents and undertakings as the Lender may request, acting reasonably, to complete the transactions contemplated hereunder and reasonable evidence of compliance with the conditions set forth in this Loan Agreement shall have been furnished to the Lender.

 

	5.	

Acceptance of Loan Advance Notice. The Lender shall not be required to accept a Loan Advance Notice in respect of a Loan Advance pursuant to Section 4 if the Lender is not satisfied, acting reasonably:

	 	 	 
	 	(a)	

as to the accuracy or completeness of the material delivered to them as a condition precedent to such Loan Advance; and/or

	 	 	 
	 	(b)	

that such Loan Advance is being used solely for the purpose set out in Section 3.

 

	 	The Lender shall promptly advise the Borrower if it is not prepared to make the Loan Advance and specify the reasons therefor.
	 	 
	6.	

Grid; Account of Record. The amount of each Loan Advance made by the Lender to the Borrower shall be entered by the Lender on the Grid and the record thereof shall, in the absence of fraud, manifest error or negligence on the part of the Lender with respect thereto, constitute conclusive proof of the fact of all such Loan Advances made to the Borrower under this Loan Agreement from time to time. The Borrower expressly acknowledges and agrees that the Grid may be completed by the Lender as aforesaid and that this Loan Agreement and the Grid completed as aforesaid may be introduced as evidence of the available balance of the Credit Facility hereon without the necessity for further proof of the facts thereof.

	 	 	 
	7.	

Disbursement of Loan Advances. Loan Advances shall be disbursed by the Lender by wire transfer to a bank account of the Borrower to be identified by the Borrower in the Loan Advance Notice. Unless otherwise specified, the word “dollar” and the “$” sign refer to the lawful money of Canada, and all amounts to be advanced, paid, tendered or calculated under this Loan Agreement are to be advanced, paid, tendered or calculated in the currency of Canada.

  

2

  

 

	
8.

	
Summary of Payments and Disbursements. The Borrower shall provide the Lender with a summary of the payments and disbursements it has made for every month within 5 days of the end of such month.

	
9.

	
Interest. Interest shall accrue on the amount of each Loan Advance as set out in section 3.1(c) and (d) of the Arrangement Agreement. Interest shall accrue from day to day and on the basis of a 365 day year. All accrued interest will be payable together with all principal owed hereunder on or before the Repayment Date.

 

	
10.  

	
Repayment of Principal. The aggregate amount of outstanding Loan Advances will be repaid on the Repayment Date, together with all accrued interest. All payments to be made by the Borrower under this Loan Agreement shall be made in immediately available, freely transferable, cleared funds to the bank account of the Lender to be informed by the Lender from time to time.

	
11.  

	
Right of Prepayment. The Borrower shall be entitled to prepay at any time the outstanding balance of Loan Advances.

	
12.  

	
Taxes. All payments to be made by the Borrower under this Loan Agreement will be made without set-off or counterclaim and without deduction for any taxes, levies, duties, fees, deductions, withholdings, restrictions or conditions of any kind. If applicable law required a deduction or withholding to be made, the Borrower will pay to the Lender an additional amount as is necessary to ensure the Lender receives the full amount the Lender would have received if no deduction or withholding has been made.

	
13.  

	
Notices. All notices, payments and other required communications to the parties under this Loan Agreement shall be in writing and shall be addressed to the respective parties in accordance with Article 8 of the Arrangement Agreement.

	
14.  

	
Governing Law. This Loan Agreement is governed by, and is construed and interpreted in accordance with, the laws of the Province of British Columbia and the laws of Canada applicable therein.

	
15.  

	
Arbitration. All disputes, disagreements, controversies, questions or claims arising out of or relating to this Agreement, including, without limitation, with respect to its formation, execution, validity, application, interpretation, performance, breach, termination or enforcement, will be determined by a sole arbitrator under the International Commercial Arbitration Act (British Columbia) and such determination will be final and binding and there will be no appeal of that determination on any ground.

	
16. 

	
Jurisdiction. Any dispute arising between the Parties out of or in connection with this Loan Agreement, its existence, enforceability, nature, interpretation, scope, performance or termination shall be finally submitted to the jurisdiction of the competent Courts of the Province of British Columbia.

	
17.  

	
Time of Essence.  Time is of essence in all respects of this Loan Agreement.

	
18.  

	
Further Assurances. Each party will, at the requesting party’s cost and expense, execute and deliver any further agreements and documents and provide any further assurances, undertakings and information as may be reasonably required by the requesting party to give effect to this Loan Agreement and, without limiting the generality of this section, will do or cause to be done all acts and things, execute and deliver or cause to be executed and delivered all agreements and documents and provide any assurances, undertakings and information as may be required at any time by all Governmental Authorities having jurisdiction over the affairs of a party or as may be required at any time under applicable law.

 

  

3

  

	
19. 

	
Severability. If any provision of this Loan Agreement is determined to be invalid or unenforceable in whole or in part, such invalidity or unenforceability shall attach only to such provision or part of such provision and the remaining part of such provision and all other provisions of this Loan Agreement shall continue in full force and effect. This Loan Agreement and the agreements and other documents required to be delivered pursuant to this Loan Agreement, constitute the entire agreement between the Parties; however, in case this Loan Agreement contradicts terms and/conditions set forth under the Arrangement Agreement, the Arrangement Agreement shall prevail.

	
20.  

	
Amendments. This Agreement may be amended only by mutual written agreement of both Parties.

	
21.  

	
Assignment. All of the covenants, stipulations, promises and agreements in this Loan Agreement shall bind the parties’ respective successors and permitted assigns, whether so expressed or not; provided, however and unless otherwise provided in the Arrangement Agreement, that the Borrower may not, without the prior consent of the Lender, assign any rights, powers, duties, or obligations under this Loan Agreement.

	
22.  

	
Non-Waiver. The failure at any time of the Lender to exercise any of its options or any other rights under this Loan Agreement will not constitute a waiver thereof, nor will it be a bar to the exercise of any of its options or rights at a later date. All rights and remedies of the Lender will be cumulative and may be pursued singly, successively or together, at the option of the Lender. The acceptance by the Lender of any partial payment will not constitute a waiver of any default or of any of the Lender’s rights under this Loan Agreement. No waiver of any of its rights hereunder, and no modification or amendment of this Loan Agreement will be deemed to be made by the Lender unless the same is in writing and duly signed on their behalf; and each such waiver, if any, will apply only with respect to the specific instance involved, and will in no way impair the rights of the Lender or the obligations of Borrower to the Lender in any other respect at any other time.

 

	
23.

	

Counterparts. This Loan Agreement and any amendments hereto may be executed in counterparts, each of which shall be deemed to be an original and all of which together shall be considered one and the same agreement. A signed copy of this Loan Agreement sent by facsimile, e-mail or other functionally equivalent electronic means of transmission shall be effectual and valid proof of execution and delivery.

 

  

4

  

 

 

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

 

	 	X-CAL RESOURCES LTD.	 
	 	 	 	 	 
	
 

	
By: 

	/s/ Shawn Kennedy	 
	 	 	Name: 	Shawn Kennedy	 
	 	 	Title: 	President	 
	 	 	 	 	 

	 	PARAMOUNT GOLD AND SILVER CORP.	 
	 	 	 	 	 
	
 

	
By: 

	/s/ Chris Crupi	 
	 	 	Name: 	Christopher Crupi	 
	 	 	Title: 	CEO	 
	 	 	 	 	 

 

 

  

5

  

SCHEDULE “A”

 

GRID OF LOAN ADVANCES

MADE BY THE LENDER TO THE BORROWER

	
Loan Advance Date

	
Amount of Loan Advance

	
Unpaid Principal Balance

	
  

 

	  	  
	
  

 

	  	  
	
  

 

	  	  
	
  

 

	  	  
	
  

 

	  	  
	
  

 

	  	  
	
  

 

	  	  
	
  

 

	  	  
	
  

 

	  	  
	
  

 

	  	  
	
  

 

	  	  
	
  

 

	  	  
	
  

 

	  	  
	
  

 

	  	  
	
  

 

	  	  
	
  

 

	  	  
	
  

 

	  	  
	
  

 

	  	  
	
  

 

	  	  
	
  

 

	  	  

  

  

  

SCHEDULE “B”

 

LOAN ADVANCE NOTICE

 

	
TO:

	
PARAMOUNT GOLD AND SILVER CORP. (the “Lender”)

	
FROM:

	
X-CAL RESOURCES LTD. (the “Borrower”)

	  	  

This Loan Advance Notice is delivered to you pursuant to the loan agreement (the “Loan Agreement”) dated June 22, 2010 between the Borrower and the Lender. All capitalized terms set forth in this Loan Advance Notice shall have the respective meanings set forth in the Loan Agreement unless otherwise defined herein.

The Borrower hereby confirms that all representations and warranties set forth in the Loan Agreement are true and accurate in all material respects and that the Borrower has complied in all material respects with all covenants and agreements of the Borrower set out in the Loan Agreement for which compliance is required prior to the date hereof.

The Borrower hereby requests the Loan Advance as follows:

 

	(a)	 	Date of Loan Advance:	 	 	 	 
	 	 	 	 	 	 	 
	(b)	 	Amount of Loan Advance: 	 CDN$	 	 	 
	 	 	 	 	 	 	 
	(c)	 	
Borrower’s account for

disbursement of Loan Advance:

	 	 	 	 
	 	 	 	 	 	 	 

                                                    

DATED this ____ day of _______________, 2010.

	 	X-CAL RESOURCES LTD.	 
	 	 	 	 	 
	
 

	
By:  

	 	 
	 	 	Name:  	 	 
	 	 	Title:

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