Document:

Exhibit 10.6

 

 

GLOBAL GUARANTY AGREEMENT

 

This Guaranty is made as of July __, 2020, by
TANZANIA AMERICAN INTERNATIONAL DEVELOPMENT CORPORATION 2000 LIMITED. (the “Guarantor”) in favor of YA
II PN, LTD. (“YA II”) and RIVERFORT GLOBAL OPPORTUNITIES PLC (“Riverfort” each
a “Creditor” and collectively with YA II, the “Creditors”),with respect to all obligations
of TANZANIAN GOLD CORPORATION (the “Debtor”) owed to the Creditors.

 

RECITALS

 

WHEREAS, the Creditors and the Debtor
are entering into a Securities Purchase Agreement (the “SPA”) of even date herewith pursuant to which the Creditors
will be purchasing Convertible Debentures (the “Debentures”) from the Debtor of up to an aggregate of $14,000,000;

 

WHEREAS, it is a condition of the SPA
and the Creditors’ obligation to purchase the Debentures from the Debtor that the Guarantor guaranty all of the Debtors obligations
under the SPA, the Debentures and all other instruments, agreements or other items executed or delivered (collectively, the “Transaction
Documents”) by the Debtor to the Creditors in connection with or related to the SPA. The Creditors are only willing to
enter into the SPA if the Guarantor agrees to execute and deliver to the Creditors this Guaranty; and

 

WHEREAS, the Guarantor will benefit,
directly or indirectly, from the Debtor entering into the SPA and other Transaction Documents and extensions of credit the Creditors
will make to Debtor;

 

NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Guarantor covenants and agrees as follows:

 

1.        Guaranty
of Payment and Performance. The Guarantor, jointly and severally, hereby guarantees to each Creditor the full, prompt and
unconditional payment when due (whether at maturity, by acceleration or otherwise), and the performance, of all liabilities, agreements
and other obligations of the Debtor to the the Creditors contained in the Transaction Documents (all the foregoing, collectively,
the “Obligations”). This Guaranty is an absolute, unconditional and continuing guaranty of the full and punctual
payment and performance of the Obligations and not of their collectability only and is in no way conditioned upon any requirement
that the the Creditors first attempt to collect any of the Obligations from the Debtor or resort to any security or other means
of obtaining their payment. Should the Debtor default in the payment or performance of any of the Obligations, the obligations
of the Guarantor hereunder shall become immediately due and payable to the Creditors, without demand or notice of any nature, all
of which are expressly waived by the Guarantor.

 

2.       Limited
Guaranty. The liability of the Guarantor hereunder shall be limited to the amount of the Obligations due to the Creditors.

 

     

     

    

3.       Waivers
by Guarantor; Creditors’ Freedom to Act. The Guarantor hereby agrees that the Obligations will be paid and performed
strictly in accordance with their terms regardless of any law, regulation or order now or hereafter in effect in any jurisdiction
affecting any of such terms or the rights of the each Creditor with respect thereto. The Guarantor waives presentment, demand,
protest, notice of acceptance, notice of Obligations incurred and all other notices of any kind, all defenses that may be available
by virtue of any valuation, stay, moratorium law or other similar law now or hereafter in effect, any right to require the marshalling
of assets of the Debtor, and all suretyship defenses generally. Without limiting the generality of the foregoing, the Guarantor
agrees to the provisions of any instrument evidencing, securing or otherwise executed in connection with any Obligation and agrees
that the obligations of the Guarantor hereunder shall not be released or discharged, in whole or in part, or otherwise affected
by (i) the failure of a Creditor to assert any claim or demand or to enforce any right or remedy against the Debtor; (ii) any extensions
or renewals of, or alteration of the terms of, any Obligation or any portion thereof unless entered into by the Creditors; (iii)
any rescissions, waivers, amendments or modifications of any of the terms or provisions of any agreement evidencing, securing or
otherwise executed in connection with any Obligation unless entered into by the Creditors; (iv) the substitution or release of
any entity primarily or secondarily liable for any Obligation; (v) the adequacy of any rights a Creditor may have against any collateral
or other means of obtaining repayment of the Obligations; (vi) the impairment of any collateral securing the Obligations, including
without limitation the failure to perfect or preserve any rights the Creditors might have in such collateral or the substitution,
exchange, surrender, release, loss or destruction of any such collateral; (vii) failure to obtain or maintain a right of contribution
for the benefit of the Guarantor; (viii) errors or omissions in connection with the Creditors’ administration of the Obligations
(except behavior constituting bad faith); or (ix) any other act or omission that might in any manner or to any extent vary the
risk of any Guarantor or otherwise operate as a release or discharge of any Guarantor, all of which may be done without notice
to any Guarantor.

 

4.       Unenforceability
of Obligations Against Debtor. If for any reason the Debtor is under no legal obligation to discharge any of the Obligations,
or if any of the Obligations have become irrecoverable from the Debtor by operation of law or for any other reason, this Guaranty
shall nevertheless be binding on the Guarantor to the same extent as if the Guarantor at all times had been the principal obligor
on all such Obligations. In the event that acceleration of the time for payment of the Obligations is stayed upon the insolvency,
bankruptcy or reorganization of the Debtor, or for any other reason, all such amounts otherwise subject to acceleration under the
terms of any agreement evidencing, securing or otherwise executed in connection with any Obligation shall be immediately due and
payable by the Guarantor.

 

5.       Subrogation;
Subordination. Until the payment and performance in full of all Obligations and any and all obligations of the Debtor to the
Creditors, the Guarantor shall not exercise any rights against the Debtor arising as a result of payment by the Guarantor hereunder,
by way of subrogation or otherwise, and will not prove any claim in competition with the Creditors in respect of any payment hereunder
in bankruptcy or insolvency proceedings of any nature; the Guarantor will not claim any set-off or counterclaim against the Debtor
in respect of any liability of the Guarantor to the Debtor; and the Guarantor waives any benefit of and any right to participate
in any collateral that may be held by the Creditors. The payment of any amounts due with respect to any indebtedness of the Debtor
now or hereafter held by the Guarantor is hereby subordinated to the prior payment in full of the Obligations. The Guarantor agrees
that after the occurrence of any default in the payment or performance of the Obligations, the Guarantor will not demand, sue for
or otherwise attempt to collect any such indebtedness of the Debtor to the Guarantor until the Obligations shall have been paid
in full. If, notwithstanding the foregoing sentence, the Guarantor shall collect, enforce or receive any amounts in respect of
such indebtedness, such amounts shall be collected, enforced and received by the Guarantor as trustee for the the Creditors and
be paid over to the Creditors on account of the Obligations without affecting in any manner the liability of the Guarantor under
the other provisions of this Guaranty.

 

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7.        Termination;
Reinstatement. This Guaranty is irrevocable and shall continue until such time as the Obligations have been indefeasibly
paid in full. This Guaranty shall be reinstated if at any time any payment made or value received with respect to an Obligation
is rescinded or must otherwise be returned by the Creditors upon the insolvency, bankruptcy or reorganization of the Debtor, or
otherwise, all as though such payment had not been made or value received.

 

8.        Successors
and Assigns. This Guaranty shall be binding upon the Guarantor, its successors and assigns, and shall inure to the benefit
of and be enforceable by the Creditors and the Creditors’ shareholders, officers, directors, agents, successors and assigns.

 

9.        Amendments
and Waivers. No amendment or waiver of any provision of this Guaranty nor consent to any departure by the Guarantor therefrom
shall be effective unless the same shall be in writing and signed by the Creditors. No failure on the part of the Creditors to
exercise, and no delay in exercising, any right hereunder shall operate as a waiver thereof; nor shall any single or partial exercise
of any right hereunder preclude any other or further exercise thereof or the exercise of any other right.

 

10.       Notices.
All notices and other communications called for hereunder shall be made in writing and, unless otherwise specifically provided
herein, shall be deemed to have been duly made or given when delivered by hand or mailed first class mail postage prepaid or, in
the case of telecopied notice, when transmitted, receipt confirmed, addressed as follows: if to any Guarantor, at the address or
e-mail address set forth below, and if to the Creditors, care of Yorkville Advsiors Global, LLC, at 1012 Springfield Avenue, Mountainside,
New Jersey 07092, or at such address as a party may designate in writing.

 

11.        Governing
Law; Consent to Jurisdiction. This Guaranty is intended to take effect as a sealed instrument and shall be governed by,
and construed in accordance with, the laws of the State of New York (excluding the laws applicable to conflicts or choice of law).
The Guarantor agrees that any suit for the enforcement of this Guaranty may be brought in the courts of the State of New York,
New York County and consents to the non-exclusive jurisdiction of such court and to service of process in any such suit’s
being made upon any Guarantor by mail at the address set forth at the head of this Guaranty. The Guarantor hereby waives any objection
that it may now or hereafter have to the venue of any such suit or any such court or that such suit was brought in an inconvenient
court.

 

[Rest of page intentionally left blank. Signature
page follows.]

 

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IN WITNESS WHEREOF, the Guarantor has
caused this Guaranty to be executed and delivered as a sealed instrument as of the date appearing on page one.

 

TANZANIA AMERICAN INTERNATIONAL DEVELOPMENT CORPORATION 2000 LIMITED.

 

By: ______________________________ 

 

Name:  ____________________________

 

Title:  _____________________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4SHARE CONTRIBUTION AGREEMENT

THIS AGREEMENT
is made and entered on January 25, 2020 by and between Ryohei Uetaki, (the "Transferor") and World Scan Project, Inc.,
a Delaware corporation ( the "Transferee");

WHEREAS,
the Transferor is the one hundred percent (100%) of record owner and holder of the issued and outstanding shares of the capital
stock of World Scan Project Corporation, a Japan corporation, (“WSP Japan”) which the Transferor has issued capital
stock of 300 shares of no par value common stock; and

WHEREAS,
the Transferee desires to acquire from the Transferor and the Transferor desires to .transfer to the Transferee 300 shares of common
stock of WSP Japan (the “WSP Japan’s Stock”) without consideration, upon the terms and subject to the conditions
hereinafter set forth;

NOW, THEREFORE,
in consideration of the mutual covenants and agreements contained in this Agreement, and in order to consummate the transfer of
the WSP Japan's Stock aforementioned, it is hereby agreed as follows:

1. TRANSFER.
Subject to the terms and conditions hereinafter set forth, at the closing of the transaction contemplated hereby, the Transferor
shall convey, transfer, and deliver to the Transferee certificates representing the WSP Japan's Stock, and the Transferee shall
acquire from the Transferor the WSP Japan's Stock without consideration. The closing of the transactions contemplated by this Agreement
("Closing") shall be held at Tokyo, Japan, on January 25, 2020, or such other place, date and time as the parties hereto
may otherwise agree.

2. EFFECTIVE
DATE. The effective date of this Agreement shall be January 25, 2020.

3. REPRESENTATIONS
AND WARRANTIES OF SELLER. The Transferor hereby warrants and represents:

(a) Organization
and Standing. WSP Japan is a corporation duly organized, validly existing and in good standing under the laws of Japan and
has the corporate power and authority to carry on its business as it is now being conducted.

(b) Restrictions
on Stock.

i. The Transferor
is not a party to any agreement, written or oral, creating rights in respect to the WSP Japan's Stock in any third person or relating
to the voting of the WSP Japan's Stock.

ii. Transferor is
the lawful owner of the WSP Japan's Stock, free and clear of all security interests, liens, encumbrances, equities and other charges.

iii. There are no
existing warrants, options, stock purchase agreements, redemption agreements, restrictions of any nature, calls or rights to subscribe
of any character relating to the stock, nor are there any securities convertible into such stock.

4. REPRESENTATIONS
AND WARRANTIES OF TRANSFEROR AND TRANSFEREE. The Transferor and the Transferee hereby represent and warrant that there has
been no act or omission by the Transferor, the Transferee or WSP Japan which would give rise to any valid claim against any of
the parties hereto for a brokerage commission, finder's fee, or other like payment in connection with the transactions contemplated
hereby.

5. GENERAL
PROVISIONS

(a) Entire Agreement.
This Agreement (including the exhibits hereto and any written amendments hereof executed by the parties) constitutes the entire
Agreement and supersedes all prior agreements and understandings, oral and written, between the parties hereto with respect to
the subject matter hereof.

(b) Sections
and Other Headings. The section and other headings contained in this Agreement are for reference purposes only and shall not
affect the meaning or interpretation of this Agreement.

(c) Governing
Law. This agreement and all transactions contemplated hereby, shall be governed by, construed and enforced in accordance with
the laws of Japan. The parties herein waive trial by jury and agree to submit to the personal jurisdiction and venue of a court
of subject matter jurisdiction located in Tokyo, Japan. In the event that litigation results from or arises out of this Agreement
or the performance thereof, the parties agree to reimburse the prevailing party's reasonable attorney's fees, court costs, and
all other expenses, whether or not taxable by the court as costs, in addition to any other relief to which the prevailing party
may be entitled.

 

IN WITNESS
WHEREOF, this Agreement has been executed by each of the individual parties hereto on the date first above written.

 

Signed, sealed and delivered in the
presence of:

 

Transferor: Ryohei Uetaki

By: /s/ Ryohei Uetaki

Transferee: World Scan Project,
Inc.

By: /s/ Ryohei Uetaki

President, CEO and Director

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