Document:

Lithium Exploration Group, Inc.: Exhibit 10.80 - Filed by newsfilecorp.com

CONVERTIBLE PROMISSORY NOTE 
$100,000

THIS NOTE AND THE SHARES ISSUABLE UPON CONVERSION OF THIS NOTE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THIS NOTE
AND THE SHARES ISSUABLE UPON CONVERSION OF THIS NOTE MAY NOT BE SOLD, OFFERED
FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT OR APPLICABLE EXEMPTION OR SAFE HARBOR PROVISION.

Issue Date: February 24, 2015 

FOR VALUE RECEIVED, Lithium Exploration Group, Inc. as
Obligor ("Borrower,” or “Obligor”), hereby promises to pay to River North Equity
LLC, (the “Lender” or “Holder”) on the Maturity Date the Principal Sum, as
defined below, along with the Interest Rate, as defined below, according to the
terms herein. 

	The "Lender" shall be: 	River North Equity LLC 

	The "Principal Sum" shall be: 	
      $118,000 (one hundred eighteen thousand US Dollars) which
      amount includes $100,000 paid by the Lender and $18,000 in respect of
      interest at 12% per annum for 18 months. 

	The “Consideration” shall be: 	
      $100,000 (one hundred thousand US dollars) in the form of
      cash payment by wire or check. 

	The "Interest Rate" shall be: 	
      12% per annum, calculated monthly, in arrears. The
      Principal Sum is inclusive of interest at the Interest Rate for 18 months.
      Interest shall continue to accrue at a rate of 12% per annum on any
      portion of the Principal Sum outstanding following the 
Maturity Date.
      

	The "Conversion Price" shall be the following
    price: 	
      the lower of (i) 65% of the lowest reported sale price of
      the Borrower's common stock (the “Common Stock”) for the 25 trading days
      immediately prior to the closing date on February 24, 2015 (the “Closing
      Date”), or (ii) 65% of the lowest reported sale price for the 25 trading
      days prior to the conversion date of the Note. 

	
      The "Maturity Date" is the date upon which the Principal
      Sum of this Note, as well as any unpaid interest shall be due and payable
      in cash, and that date shall be: 
	August 24, 2016. 

ARTICLE 1 PAYMENT-RELATED PROVISIONS 

1.1      Principal Sum. The
Principal Sum is $118,000 (one hundred eighteen thousand USD) which includes
$100,000 (one hundred thousand USD) payable to be advanced by the Lender and
$18,000 (eighteen thousand USD) in interest at the Interest Rate for 18
months.

1.2      Events of
Default. The occurrence of any of the following events shall be an “Event of
Default” or “Default” under this Note: 

(a)      the Borrower shall fail to
make the payment of any amount of principal outstanding on the date such payment
is due hereunder; 

(b)      the Borrower shall fail
to fully comply with the reporting requirements of the Exchange Act; and/or
Borrower shall cease to be subject to the reporting requirements of the Exchange
Act.; 

(c)      the Borrower shall fail
to maintain the listing on any one of the OTC Pink, OTC QB, OTC QX, Nasdaq
SmallCap Market, Nasdaq National Market, American Stock Exchange or The New York
Stock Exchange for more than five (5) trading days or fail to remove a "Stop"
sign from its ticker symbol within five (5) days after such sign is posted; 

(d)      the Borrower’s notice to
the Lender, including by way of public announcement, at any time, of its
inability to comply or its intention not to comply with proper requests for
conversion of this Note into shares of Common Stock; 

(e)      the Borrower shall fail
to (i) timely deliver the shares of Common Stock upon conversion of the Note or
any accrued and unpaid interest, or (ii) make the payment of any fees and/or
liquidated damages under this Note, which failure in the case of items (i) and
(ii) of this Section 1.2 (e) is not remedied within three (3) business days
after the incurrence thereof; 

(f)      default shall be made in
the performance or observance of (i) any material covenant, condition or
agreement contained in this Note (other than as set forth in clause (e) of this
Section 1.2) and such default is not fully cured within five (5) business days
after the occurrence thereof; or (ii) any material covenant, condition or
agreement contained in any Transaction Document which is not covered by any
other provisions of this Section 1.2 and such default is not fully cured within
five (5) business days after the occurrence thereof; ; 

(g)      any material
representation or warranty made by the Borrower herein or in any Transaction
Document, shall prove to have been false or incorrect or breached in a material
respect on the date as of which made; 

(h)      the Borrower shall (A)
default in any payment of any amount or amounts of principal of or interest on
any indebtedness (other than the indebtedness hereunder) the aggregate principal
amount of which indebtedness is in excess of $100,000 or (B) default in
the observance or performance of any other agreement or condition relating to
any indebtedness or contained in any instrument or agreement evidencing,
securing or relating thereto, or any other event shall occur or condition exist,
the effect of which default or other event or condition is to cause, or to
permit the holder or holders or beneficiary or beneficiaries of such
indebtedness to cause with the giving of notice if required, such indebtedness
to become due prior to its stated maturity;

(i)      the Borrower shall (i)
apply for or consent to the appointment of, or the taking of possession by, a
receiver, custodian, trustee or liquidator of itself or of all or a substantial
part of its property or assets, (ii) make a general assignment for the benefit
of its creditors, (iii) commence a voluntary case under the United States
Bankruptcy Code (as now or hereafter in effect) or under the comparable laws of
any jurisdiction (foreign or domestic), (iv) file a petition seeking to take
advantage of any bankruptcy, insolvency, moratorium, reorganization or other
similar law affecting the enforcement of creditors’ rights generally, (v)
acquiesce in writing to any petition filed against it in an involuntary case
under United States Bankruptcy Code (as now or hereafter in effect) or under the
comparable laws of any jurisdiction (foreign or domestic), (vi) issue a notice
of bankruptcy or winding down of its operations or issue a press release
regarding same, or (vii) take any action under the laws of any jurisdiction
(foreign or domestic) analogous to any of the foregoing; 

(j)      a proceeding or case shall be
commenced in respect of the Borrower, without its application or consent, in any
court of competent jurisdiction, seeking (i) the liquidation, reorganization,
moratorium, dissolution, winding up, or composition or readjustment of its
debts, (ii) the appointment of a trustee, receiver, custodian, liquidator or the
like of it or of all or any substantial part of its assets in connection with
the liquidation or dissolution of the Borrower or (iii) similar relief in
respect of it under any law providing for the relief of debtors, and such
proceeding or case described in clause (i), (ii) or (iii) shall continue
undismissed, or unstayed and in effect, for a period of sixty (60) days or any
order for relief shall be entered in an involuntary case under United States
Bankruptcy Code (as now or hereafter in effect) or under the comparable laws of
any jurisdiction (foreign or domestic) against the Borrower or action under the
laws of any jurisdiction (foreign or domestic) analogous to any of the foregoing
shall be taken with respect to the Borrower and shall continue undismissed, or
unstayed and in effect for a period of sixty (60) days; or 

(k)      the failure of the Borrower
to instruct its transfer agent to remove any legends from shares of Common Stock
eligible to be sold under Rule 144 of the Securities Act (or any available
exemption under said Act) and have the transfer agent DWAC the shares of Common
Stock to the Lender's broker within two (2) business days of the Holder's
request or issue unlegended certificates to the Holder within three (3) business
days of the Holder’s request if DWAC transfer is not available at such time, so
long as the Holder has provided reasonable assurances and opinions of counsel to
the Borrower that such shares of Common Stock can be resold pursuant to Rule 144
or any available exemption under the Securities Act; or 

(l)      the failure of the Borrower
to pay any amounts due to the Holder herein within three (3) business days of
receipt of notice to the Company. 

(m)      So long as Borrower shall
have any obligation under this Note, Borrower covenants that at any time when
the Holder shall deliver a conversion notice, the par value of Borrower's Common
Stock shall not be higher than the Conversion Price applicable to such
conversion notice. 

(n)      So long as Borrower shall
have any obligation under this Note, should there be no bid for 5 consecutive
trading days on the trading market where Borrower's Common Stock is listed or
traded, then Borrower shall immediately have its Common Stock undergo a reverse
stock split at a ratio of 100-to-1.

1.3      Consequences of
Default/Remedies. In the event of any Event of Default, as defined in above
section 1.2, the outstanding principal amount of this Note, plus accrued but
unpaid interest, liquidated damages, fees and other amounts owing in respect
thereof through the date of acceleration, shall become, at the Holder’s
election, immediately due and payable in cash at the Mandatory Default Amount.
Commencing five (5) days after the occurrence of any Event of Default that
results in the eventual acceleration of this Note, the interest rate on this
Note shall accrue at an interest rate equal to the lesser of 18% per annum or
the maximum rate permitted under applicable law. In connection with such
acceleration described herein, the Holder need not provide, and the Borrower
hereby waives, any presentment, demand, protest or other notice of any kind, and
the Holder may immediately and without expiration of any grace period enforce
any and all of its rights and remedies hereunder and all other remedies
available to it under applicable law. Such acceleration may be rescinded and
annulled by Holder at any time prior to payment hereunder and the Holder shall
have all rights as a holder of the Note until such time, if any, as the Holder
receives full payment pursuant to this Section 1.2. No such rescission or
annulment shall affect any subsequent Event of Default or impair any right
consequent thereon. The Mandatory Default Amount means the greater of (i) the
outstanding principal amount of this Note, plus all accrued and unpaid interest,
liquidated damages, fees and other amounts hereon, divided by the Conversion
Price on the date the Mandatory Default Amount is either demanded or paid in
full, whichever has a lower Conversion Price, multiplied by the VWAP on the date
the Mandatory Default Amount is either demanded or paid in full, whichever has a
higher VWAP, or (ii) 130% of the outstanding principal amount of this Note, plus
100% of accrued and unpaid interest, liquidated damages, fees and other amounts
hereon. 

1.4      Redemption. During the first
18 months this Note is in effect, the Borrower may redeem this Note by paying to
the Holder an amount as follows: (i) if the redemption is within the first 60
days after the Issue Date of this Note, then for an amount equal to 110% of the
unpaid Principal Sum of this Note, (ii) if the redemption is on or after the
61st day after the Issue Date of this Note, but prior to the 121st day after the
Issue Date of this Note, then for an amount equal to 120% of the unpaid
Principal Sum of this Note, and (iii) if the redemption is after the 121st day
after the Issue Date of this Note, but prior to the Maturity Date of this Note,
then for an amount equal to 130% of the unpaid Principal Sum. This Note may not
be redeemed on or after the Maturity Date. The redemption must be closed and
paid for within 10 business days of the Company sending the redemption demand or
the redemption will be invalid. 

ARTICLE 2 CONVERSION RIGHTS 

The Holder will have the right to convert the Principal Sum
(including interest, and other fees) under this Note into Shares of the
Borrower's Common Stock as set forth below. 

2.1      Conversion Rights and
Cashless Exercise. The Holder will have the right at its election from and after
the Issue Date, and then at any time, to convert all or part of the outstanding
and unpaid Principal Sum, accrued interest and other fees into shares of fully
paid and non-assessable shares of common stock of Lithium Exploration Group,
Inc. (as such stock exists on the date of issuance of this Note, or any shares
of capital stock of Lithium Exploration Group, Inc. into which such stock is
hereafter changed or reclassified, the "Common Stock") as per the Conversion
Formula set forth in Section 2.2. Any such conversion shall be cashless, and
shall not require further payment from Holder. Unless otherwise
agreed in writing by both the Borrower and the Holder, at no time will the
Holder convert any amount of the Note into common stock that would result in the
Holder owning more than 9.99% of the common stock outstanding of Lithium
Exploration Group, Inc., as calculated in accordance with sections 13(d) and
13(g) of the Securities Exchange Act of 1934, as amended (the “Exchange Act’).
Shares from any such conversion will be delivered to Holder (in any name
directed by Holder) by 2:30pm EST within 2 (two) business days of conversion
notice delivery (see 3.1) by “DWAC/FAST” electronic transfer and within 3
(three) business days if DWAC transfer is not available at such time. 

2.2.      Conversion Formula. The
number of shares issued through conversion is the conversion amount divided by
the Conversion Price, as illustrated below. The Holder and the Borrower shall
maintain records showing the principal amount(s) converted and the date of such
conversion(s). If no objection is delivered from Borrower to Holder regarding
any variable or calculation of the conversion notice within 24 (twenty-four)
hours of delivery of the conversion notice, the Borrower shall have been
thereafter deemed to have irrevocably confirmed and irrevocably ratified such
notice of conversion and waive any objection thereto. The Company acknowledges
and agrees that, absent a duly delivered objection notice as required above, the
Holder shall materially rely on the confirmation and ratification of the
conversion price and, notwithstanding subsequent information to the contrary
that such computation was made in error, such deemed conversion price shall
thereafter be the conversion price for purposes of such conversion. 

# Shares = Conversion
  Amount 
                      Conversion
Price 

2.3.      Reservation of Shares.
Reference is made to the 20 for 1 reverse stock split (the “Reverse Stock
Split”) approved by the Board of Directors of the Borrower on January 19,
2015. Borrower represents that it will reserve for the Holder no less than
100,000,000 of the post Reverse Stock Split shares with VStock Transfer as soon
as the Reverse Stock Split is made effective and the new cusip has been issued.
Within 7 business days after the Reverse Stock Split becomes effective, but in
no event later than April 1, 2015, Borrower shall deliver to the Holder a letter
from Borrower to Vstock Transfer, executed by Borrower and acknowledged and
agreed to by VStock Transfer. The Borrower represents that upon issuance, such
shares will be duly and validly issued, fully paid and non-assessable. The
Borrower agrees that its issuance of this Note constitutes full authority to its
officers, agents and transfer agents who are charged with the duty of executing
and issuing shares to execute and issue the necessary shares of Common Stock
upon the conversion of this Note.

2.4.      Delivery of Conversion
Shares. Shares from any such conversion will be delivered to Holder by 2:30pm
EST within 2 (two) business days of conversion notice delivery (see 3.1) by
“DWAC/FAST” electronic transfer (such date, the “Share Delivery Date”). For
example, if Holder delivers a conversion notice to Borrower at 5:15 pm eastern
time on Monday, January 1st, Borrower’s transfer agent must deliver
shares to Holder’s broker via “DWAC/FAST” electronic transfer by no later than
2:30 pm eastern time on Wednesday January 3rd . If those shares are
not delivered in accordance with this timeframe stated in this Section 2.6,
Holder, at any time prior to selling those shares (in whole or in part), may
rescind that particular conversion (in whole or in part) and have the conversion
amount (in whole or in part) returned to the note balance with the conversion shares (in whole or in part) returned to the
Borrower (under Holder and Borrower’s expectation that any returned conversion
amounts will tack back to the original date of the note). The Company will
make its best efforts to deliver shares to Holder same day / next day. If DWAC transfer is not available at the time of conversion, a certificate shall
be issued and shipped (same day delivery) to the Holder within 3 (three) days of
conversion notice.

2.4.1      Nothing herein shall
limit a Holder’s right to pursue any other remedies available to it hereunder
(including election to pursue its rights under this Section 2.4 and
subsections), at law or in equity including, without limitation, a decree of
specific performance and/or injunctive relief with respect to the Borrower’s
failure to timely deliver shares of Common Stock upon conversion of the Note as
required pursuant to the terms hereof. 

2.4.2      Conversion Delay
Penalties. Holder may assess, at its election, penalties or liquidated damages
(both referred to herein as “penalties”) as follows. 

2.4.2.
A.      For each conversion, Borrower agrees to
deliver share issuance instructions to its transfer agent same day. In the event
that the share issuance instructions and all applicable paperwork are not
delivered to the Borrower’s transfer agent, broker, or clearing firm the same
day the conversion notice is delivered, a penalty of $2,000 per day will be
assessed for each day until share issuance instructions are delivered to the
transfer agent ($2,000 per day inclusive of the day of conversion); and such
penalty will be added to the principal balance of the Note (under Holder and
Borrower’s expectation that any penalty amounts will tack back to the original
date of the note). 

2.4.2.
B.      For each conversion, in the event that shares
are not delivered by the third business day (inclusive of the day of
conversion), a penalty of $2,000 per day will be assessed for each day after
such third business day until share delivery is made; and such penalty will be
added to the principal balance of the Note (under Holder and Borrower’s
expectation that any penalty amounts will tack back to the original date of the
note). Borrower will not be subjected to any penalties once its transfer
agent processes the shares to the DWAC system. 

2.4.3      If failure to deliver
Conversion Shares occurs as follows, Holder may elect to enforce one or more of
these remedies at its sole election. 

2.4.3.
A.      In addition to any other rights available
to the Holder, if the Borrower fails to cause its transfer agent to transmit to
the Holder the shares on or before the Share Delivery Date, and if after such
date the Holder is required by its broker to purchase (in an open market
transaction or otherwise) or if the Holder’s brokerage firm otherwise purchases,
shares of Common Stock to deliver in satisfaction of a sale by the Holder of the
shares which the Holder anticipated receiving upon such conversion (a
“Buy-In”), then the Borrower shall (A) pay in cash to the Holder the
amount, if any, by which (x) the Holder’s total purchase price (including
brokerage commissions and other fees, if any) for the shares of Common Stock so
purchased exceeds (y) the amount obtained by multiplying (1) the number of
Shares that the Borrower was required to deliver to the Holder in connection with the conversion at
issue times (2) the price at which the sell order giving rise to such purchase
obligation was executed, and (B) at the option of the Holder, either (x)
reinstate the portion of the Note and equivalent number of shares for which such
conversion was not honored (in which case such conversion shall be deemed
rescinded), (y) deliver to the Holder the number of shares of Common Stock that
would have been issued had the Borrower timely complied with its conversion and
delivery obligations hereunder, or (z) pay in cash to the Holder the amount
obtained by multiplying (1) the number of Shares that the Borrower was required
to deliver to the Holder in connection with the conversion at issue times (2)
the price at which the sell order giving rise to such purchase obligation was
executed. The Holder shall provide the Borrower written notice indicating the
amounts payable to the Holder in respect of the Buy-In and, upon request of the
Borrower, evidence of the amount of such loss. 

2.4.3. B. If the Borrower fails for
any reason to deliver to the Holder the Shares by DWAC/FAST electronic transfer
(such as by delivering a physical stock certificate) and if the Holder incurs a
Market Price Loss, then at any time subsequent to incurring the loss the Holder
may provide the Borrower written notice indicating the amounts payable to the
Holder in respect of the Market Price Loss and the Borrower must make the Holder
whole by either of the following options at Holder’s election: 

Market Price Loss = [(VWAP of the
Common Stock on the day of conversion) x (Number of shares receivable from the
conversion)] – [(Sales price realized by Holder) x (Number of shares receivable
from the conversion)]. 

Option A – Pay Market Price Loss in
Cash. The Borrower must pay the Market Price Loss by cash payment, and any such
cash payment must be made by the third business day from the time of the
Holder’s written notice to the Borrower. 

Option B – Add Market Price Loss to
Principal Sum. The Borrower must pay the Market Price Loss by adding the Market
Price Loss to the balance of the Principal Sum (under Holder’s and the
Borrower’s expectation that any Market Price Loss amounts will tack back to the
original date of issue of this Note). 

2.4.3. C. If the Borrower fails for
any reason to deliver to the Holder the Shares by the Share Delivery Date and if
the Holder incurs a Failure to Deliver Loss, then at any time subsequent to
incurring the loss the Holder may provide the Borrower written notice indicating
the amounts payable to the Holder in respect of the Failure to Deliver Loss and
the Borrower must make the Holder whole as follows: 

Failure to Deliver Loss = [(Highest
trading price of the Common Stock at any time on or after the day of conversion)
x (Number of shares receivable from the conversion)] - [(Sales price realized by
Holder) x (Number of shares receivable from the conversion)].

The Borrower must pay the Failure to
Deliver Loss by cash payment, and any such cash payment must be made by the
third business day from the time of the Holder’s written notice to the Borrower.

ARTICLE 3 MISCELLANEOUS

3.1.      Notices. Any notice required
or permitted hereunder must be in writing and either personally served, sent by
facsimile or email transmission, or sent by overnight courier. Notices will be
deemed effectively delivered at the time of transmission if by facsimile or
email, and if by overnight courier the business day after such notice is
deposited with the courier service for delivery. 

3.2      Prohibition on Certain
Financings. As an inducement to the Holder for the purchase of this Note the
Borrower hereby agrees not to accept, for as long as any portion of this Note
remains payable to Lender, any future equity financing from Vista Capital
Investments, LLC or Black Mountain Equities, Inc.

3.3.      Amendment Provision.
The term "Note" and all reference thereto, as used throughout this instrument,
means this instrument as originally executed, or if later amended or
supplemented, then as so amended or supplemented.

3.4.      Assignability. The
Borrower may not assign this Note. This Note will be binding upon the Borrower
and its successors, and will inure to the benefit of the Holder and its
successors and assigns, and may be assigned by the Holder to anyone of its
choosing without Borrower’s approval. 

3.5.      Governing Law. This Note
will be governed by, and construed and enforced in accordance with, the laws of
the State of Nevada, without regard to the conflict of laws principles thereof.
Each of the Borrower and the Holder (i) hereby submits to the exclusive
jurisdiction of the state and federal courts of Nevada for the purposes of any
suit, action or proceeding arising out of or relating to this Note and (ii)
hereby waives, and agrees not to assert in any such suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of such court,
that the suit, action or proceeding is brought in an inconvenient forum or that
the venue of the suit, action or proceeding is improper. Each of the Borrower
and the Holder consents to process being served in any such suit, action or
proceeding by mailing a copy thereof to such party at the address in effect for
notices to it under this agreement and agrees that such service shall constitute
good and sufficient service of process and notice thereof. Nothing in this
Section 3.5 shall affect or limit any right to serve process in any other manner
permitted by law.

3.6.      Delivery of Process by
Holder To Borrower. In the event of any action or proceeding by Holder against
Borrower, and only by Holder against Borrower, service of copies of summons
and/or complaint and/or any other process which may be served in any such action
or proceeding may be made by Holder via overnight delivery service such as FedEx
or UPS, process server, or by personal delivery of a copy of such process to the
Borrower at its last known address or to its last known attorney set forth in
its most recent SEC filing. 

3.7. No Rights as Stockholder Until Conversion. This Note does
not entitle the Holder to any voting rights, dividends or other rights as a
stockholder of the Company prior to the conversion hereof as set forth in
Section 2.1. So long as this Note is unconverted, this Note carries no voting
rights and does not convey to the Holder any “control” over the Company, as such
term may be interpreted by the SEC under the Securities Act or the Exchange Act,
regardless of whether this Note is currently convertible. 

3.8. Maximum Payments. Nothing contained herein may be deemed
to establish or require the payment of a rate of interest or other charges in
excess of the maximum permitted by applicable law. In the event that the rate of
interest required to be paid or other charges hereunder exceed the maximum
permitted by such law, any payments in excess of such maximum will be credited
against amounts owed by the Borrower to the Holder and thus refunded to the
Borrower.

3.9. Attorney Fees. In the event any attorney is employed by
either party to this Note with regard to any legal or equitable action,
arbitration or other proceeding brought by such party for the enforcement of
this Note or because of an alleged dispute, breach, default or misrepresentation
in connection with any of the provisions of this Note, the prevailing party in
such proceeding will be entitled to recover from the other party reasonable
attorneys' fees and other costs and expenses incurred, in addition to any other
relief to which the prevailing party may be entitled. 

3.10. Nonwaiver. No course of dealing or any delay or failure
to exercise any right hereunder on the part of Holder shall operate as a waiver
of such right or otherwise prejudice the Holder’s rights, powers or remedies.

3.11. No Public Announcement. Except as required by securities
law, no public announcement may be made regarding this Note, payments, or
conversions without written permission by both Borrower and Holder. 

3.12. Opinion of Counsel. In the event that an opinion of
counsel is needed for any matter related to this Note, Holder has the right to
have any such opinion provided by its counsel. Holder also has the right to have
any such opinion provided by Borrower’s counsel. 

3.13. Director’s Resolution. Once effective, Borrower will
execute and deliver to Holder a copy of a Board of Director’s resolution
resolving that this note is validly issued, paid, and effective. 

3.14. No Shorting. Holder agrees that so long as any Note from
Borrower to Holder remains outstanding, Holder will not enter into or effect any
“short sales” of the common stock or hedging transaction which establishes a net
short position with respect to the common stock of Lithium Exploration Group,
Inc. Borrower acknowledges and agrees that upon submission of conversion notice
as set forth in Section 3.1 (up to the amount of cash paid in under the Note),
Holder immediately owns the common shares described in the conversion notice and
any sale of those shares issuable under such conversion notice would not be
considered short sales. 

3.15 Solvency. The Borrower represents that (after giving
effect to the transaction contemplated by this Note) it is solvent (i.e.,
its assets have a fair market value in excess of the amount required to pay its
probable liabilities on its existing debts as they become absolute and matured) and currently Borrower has no information that would
lead it to reasonably conclude that it would not, after giving effect to the
transaction contemplated by this Note, have the ability to, nor does it intend
to take any action that would impair its ability to, pay its debts from time to
time incurred in connection therewith as such debt mature. 

3.16      Integrated Offering. Neither
the Borrower, nor any of its affiliates, nor any person acting on its or their
behalf has, directly or indirectly, made any offers or sales of any security or
solicited any offers to buy any security, under circumstances that would cause
this offering of the Note to be integrated with prior offerings by the Borrower
for purposes of the Securities Act 

  	BORROWER: 
	 
	LITHIUM EXPLORATION GROUP,
      INC. 
	 	 
	By:	 
	 	Alexander Walsh 
	 	President 
	 	  
	LENDER/HOLDER: 
	 	  
	RIVER NORTH EQUITY LLC

	 	 
	By:	 
	     	Edward Liceaga 
	 	President 
	 	  
	[Convertible Promissory Note
      Signature Page]Lithium Exploration Group, Inc.: Exhibit 10.82 - Filed by newsfilecorp.com

SHARE PURCHASE AGREEMENT 

This Share Purchase Agreement is made effective as of the
1st day of May, 2015. 

BETWEEN: 

	
      ALTA DISPOSAL LTD., a corporation, incorporated
      pursuant to the laws of the Province of Alberta (hereinafter called the
      “Vendor”) 

OF THE FIRST PART 

AND 

	
      NATEL HOFMANN, an individual, residing in the
      Hamlet of Wardlow, in the Province of Alberta, or her nominees
      (hereinafter called the “Purchaser”) 

OF THE SECOND PART 

AND 

	
      TERO OILFIELD SERVICES LTD., a corporation,
      incorporated  pursuant to the laws of the Province of Alberta
      (hereinafter called the “Corporation”) 

OF THE THIRD PART 

RECITALS 

	A. 	
      WHEREAS the Corporation operates a water well
      drilling and water disposal business located in central Alberta;

	 	 
	B. 	
      AND WHEREAS the Vendor owns 500,000 Class “A”
      Voting Common Shares of the Corporation (the “Shares”) which represents
      50% of the issued and outstanding shares of the Corporation;

	 	 
	C. 	
      AND WHEREAS the Vendor wishes to sell and convey
      the Shares to the Purchaser and the Purchaser wishes to purchase the
      Shares upon the terms and conditions hereinafter set forth;

	 	 
	D. 	
      AND WHEREAS the Vendor is willing to provide a
      restrictive covenant not to compete with the Corporation after the sale of
      the Shares;

NOW THEREFORE THIS AGREEMENT
WITNESSES THAT in consideration of the mutual covenants contained herein and other good and
valuable consideration (the receipt and sufficiency of which is acknowledged),
the Parties agree as follows: 

2 

SECTION ONE 
INTERPRETATION 

	1.1. 	
      DEFINITIONS

Whenever used in this Agreement, including the recitals and any
schedules hereto, the following words and phrases shall have the following
meanings unless the context otherwise requires: 

	 	(a) 	
      “Agreement” means this Share Purchase Agreement
      and includes any agreement amending this agreement or any agreement or
      instrument which is supplemental or ancillary thereof, and the expressions
      “above”, “below”, “herein”, “hereto”, “hereof” and similar expressions
      refer to this Agreement;

	 	 	 
	 	(b) 	
      “Books and Records” means all books, records,
      files and papers of the Corporation, including computer programs
      (including source codes and software programs), computer manuals, computer
      data, financial and tax working papers, financial and tax books and
      records, business reports, business plans and projections, sales and
      advertising materials, sales and purchases records and correspondence,
      trade association files, research and development records, lists of
      present and former customers and suppliers, personnel and employment
      records, minute and share certificate books, and all copies and recordings
      of the foregoing;

	 	 	 
	 	(c) 	
      “Business” means the business currently carried on
      by the Corporation as a water well drilling, water disposal and service
      company as a going concern and the intangible goodwill associated
      therewith and any and all interests of whatsoever kind and nature related
      thereto;

	 	 	 
	 	(d) 	
      “Closing Date” means May 15, 2015 or such other
      date as the Parties agree to in writing;

	 	 	 
	 	(e) 	
      “Counsel” means any barrister, solicitor or
      attorney or a firm thereof retained by the Vendor or Purchaser as the case
      may be;

	 	 	 
	 	(f) 	
      “Documents” means all contracts, agreements,
      documents, permits, licenses, certificates, plans, drawings,
      specifications, reports, compilations, analysis, studies, financial
      statements, budgets, market surveys, minute books, corporate records,
      corporate seals and any other documents or information of whatsoever
      nature relating to the Corporation or its Business and any all rights in
      relation thereto;

	 	 	 
	 	(g) 	
      “Effective Date” means 8:00 a.m. (Calgary, Alberta
      time), on May 1, 2015;

	 	 	 
	 	(h) 	
      “Party” or “Parties” means a party or
      parties to this Agreement;

	 	 	 
	 	(i) 	
      “Purchaser” means Natel Hofmann or her
      nominees;

3 

	 	(j) 	
      “Purchase Price” means the sum of $300,000
    US;

	 	 	 
	 	(k) 	
      “Shares” means 500,000 Class “A” Voting Common
      Shares of the Corporation;

	 	 	 
	 	(l) 	
      “Transaction” means the transaction contemplated
      by this Agreement;

	 	 	 
	 	(m) 	
      “Time of Closing” means 11:00 am, Calgary time, on
      the Closing Date when the Closing of the purchase and sale herein provided
      for shall be completed; and

	 	 	 
	 	(n) 	
      “Vendor” means Alta Disposal
Ltd.

	1.2. 	
      SCHEDULES

Appended hereto are the following schedules, which are
incorporated into this Agreement by reference and are deemed to be a part
hereof: 

Schedule A – Resignation of Alex Walsh as a Director and
Officer of the Corporation 

	1.3. 	
      SCHEDULE REFERENCES

Wherever any provision of any schedule to this Agreement
conflicts with any provision in the body of this Agreement, the provisions of
the body of this Agreement shall prevail. References herein to a schedule shall
mean a reference to a schedule to this Agreement. References in any schedule to
this Agreement shall mean a reference to this Agreement. References in any
schedule to another schedule shall mean a reference to a schedule to this
Agreement. 

	1.4. 	
      US DOLLARS

All dollar amounts referred to in this Agreement are in US
funds, unless otherwise indicated herein. All payments contemplated herein shall
be by certified cheque or bank draft issued by a Canadian chartered bank or such
other transfer of immediately available funds as may be acceptable to the
Vendor. 

	1.5. 	
      DIRECTION TO PAY

The Vendor hereby directs the Purchase to pay the Purchase
Price to Lithium Exploration Group, Inc. 

	1.6. 	
      EXTENDED MEANINGS

In this Agreement, words importing the singular number include
the plural and vice versa; words importing the masculine gender include the
feminine and neuter genders; and references to any statute shall extend to and
include orders-in-council or regulations passed under and pursuant thereto, of
any amendment or re-enactment of such statute, orders-in-council or regulations,
or any statute, order-in-council or regulations substantially in replacement
thereof. 

4 

	1.7. 	
      ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the
Parties pertaining to the subject matter hereof and supersedes all prior and
contemporaneous agreements, understandings, negotiations and discussions,
whether oral or written, of the Parties, and there are no warranties,
representations or other agreements between the Parties in connection with the
subject matter hereof. No amendment, supplement, modification, waiver or
termination of this Agreement shall be binding unless executed in writing by the
party to be bound thereby. 

	1.8. 	
      HEADINGS

Section headings are not to be considered part of this
Agreement and are included solely for convenience of reference and are not
intended to be full or accurate descriptions of the contents thereof. 

	1.9. 	
      SUCCESSORS AND ASSIGNS

All of the terms and provisions in this Agreement shall be
binding upon and shall enure to the benefit of the Parties and their respective
successors and assigns. 

SECTION TWO 
PURCHASE OF SHARES 

	2.1. 	
      PURCHASE OF SECURITIES

Subject to the terms and conditions of this Agreement, the
Vendor hereby sells to the Purchaser and the Purchaser hereby purchases from the
Vendor on the Closing Date, with effect on the Effective Date, the Shares for
the Purchase Price of $300,000 US (the “Purchase Price”). The Shares shall
constitute 50% of the issued and outstanding voting common shares in the capital
of the Corporation, free and clear of all liens and encumbrances.

	2.2. 	
      PAYMENT OF PURCHASE PRICE

Subject to the terms and conditions of this Agreement, the
Purchase Price shall be paid by the Purchaser to the Vendor for the Shares in
two installments, with one installment of $100,000 US paid on the Closing Date
of May 15, 2015 and the balance of $200,000 US to be paid on or before June 1,
2015. Both payments shall be payable to the Vendor by certified cheque or bank
draft.

	2.3. 	
      DELIVERY OF SHARES

Subject to the fulfilment of all of the terms and conditions
hereof (unless waived as herein provided), on the Closing Date, the Vendor shall
deliver (or make arrangements to deliver) to the Purchaser a share certificate
representing the Shares duly endorsed for transfer to the Purchaser, together
with such other documentation as contemplated in Section 5.1 hereof. 

	2.4. 	
      EFFECTIVE DATE OF TRANSFER

For accounting, title and tax purposes, the transfer and
assignment of the Shares from the Vendor to the Purchaser shall be effective as of the Effective
Date.

5 

	2.5. 	
      ASSUMPTION OF ALL LIABILITIES BY
  PURCHASER

The Parties agree that there will be no distribution of revenue
by the Corporation for the period from the purchase date of the Shares by the
Vendor until the Closing date of the Transaction. The Parties also agree that
the Vendor shall not be liable for any expenses or financial obligations of the
Corporation in that same time period. 

	2.6. 	
      TERMINATION OF AGREEMENTS

The Parties acknowledge that the Option Agreement entered into
between the Vendor and the Purchaser as of March 1, 2014 has been terminated.
The Parties also agree that the Unanimous Shareholder Agreement between the
Vendor, the Purchaser and the Corporation and dated effective as of March 1,
2014, shall be terminated on the Closing Date.

SECTION THREE 
REPRESENTATIONS AND WARRANTIES OF
THE VENDOR

To induce the Purchaser to enter into this Agreement and
complete the Transaction the Vendor represents and warrants to and in favour of
the Purchaser as provided in this Section Three as follows: 

	3.1. 	
      SHARES

	 	(a) 	
      The Vendor has or will have on the Closing Date good,
      marketable, beneficial and/or recorded title to the Shares, and such
      Shares are free of all mortgages, charges, liens, pledges, claims,
      security interests and agreements and other encumbrances of whatsoever
      nature and no person, firm or corporation has any agreement or option or
      right capable of becoming an agreement or option for the purchase from the
      Vendor of any of the Shares except as provided herein, and the Vendor has
      good right, full power and absolute authority to sell and assign the
      Shares to the Purchaser for the purpose and in the manner as provided in
      this Agreement. The Shares are not subject to any shareholder, pooling,
      escrow or similar agreements.

	 	 	 
	 	(b) 	
      No consents of, filings with or approval of any
      governmental or regulatory body or authority is required by the Vendor for
      the Vendor's sale and transfer of the Shares to the Purchaser, other than
      those presently held or obtained by the Vendor which are in full force and
      effect.

	 	 	 
	 	(c) 	
      The Vendor is not obligated to obtain the written consent
      of any person to the Transaction.

	3.2. 	
      INCOME TAX

	 	(a) 	
      The Vendor is a resident of Canada within the meaning of
      the Income Tax Act;

6 

	 	(b) 	
      There are no remittances due to the Canada Revenue Agency
      on the Closing Date.

	3.3. 	
      EXECUTION AND DELIVERY OF
  AGREEMENT

This Agreement has been duly executed and delivered by the
Vendor or its duly appointed power of attorney and representative and all
documents required hereunder to be executed and delivered by the Vendor shall
have been duly executed and delivered by the Vendor and this Agreement does and
such documents and instruments shall, constitute legal, valid and binding
obligations of the Vendor enforceable in accordance with their respective terms.

	3.4. 	
      REPRESENTATIONS AND WARRANTIES SURVIVING CLOSING
      DATE

	 	(a) 	
      The covenants, representations and warranties of the
      Vendor contained in Section Three hereof and elsewhere in this Agreement
      and in any certificate or other material delivered under this Agreement
      are accurate and complete, do not contain any untrue statement of a
      material fact or, considered in the context in which presented, omit to
      state a material fact necessary in order to make the statements and
      information contained herein or therein not misleading.

	 	 	 
	 	(b) 	
      Any claims against the Vendor by the Purchaser pursuant
      to the terms hereof shall not be enforceable against the Vendor unless
      notice thereof shall have been given in writing to the Vendor within one
      (1) year of the Closing Date.

	 	 	 
	 	(c) 	
      Each and every right, remedy and power granted to the
      Purchaser hereunder pursuant to Section Three or under any documents or
      instruments delivered pursuant to the terms and conditions hereof, shall
      be cumulative and shall be in addition to any other right, remedy or power
      herein or therein specifically granted or hereinafter existing in equity
      at law, by virtue or statue or otherwise and every such right, remedy and
      power may be exercised by the Purchaser from time to time concurrently or
      independently and as often and in such order as the Vendor may deem
      expedient.

	 	 	 
	 	(d) 	
      Notwithstanding any other provision of this Agreement, a
      claim for any breach of any of the representations and warranties
      contained in this Agreement or in any contract, agreement, instrument,
      certificate or other document executed or delivered pursuant hereto
      involving fraud or fraudulent misrepresentations may be made at any time
      following the Closing Date, subject only to applicable limitation periods
      imposed by applicable law.

SECTION FOUR 
REPRESENTATIONS AND WARRANTIES OF
THE PURCHASER 

To induce the Vendor to enter into this Agreement and complete
the transactions contemplated thereby, the Purchaser represents and warrants to
and in favour of the Vendor as provided in this Section Four: 

7 

	4.1. 	
      EXECUTION AND DELIVERY OF
  AGREEMENT

	 	(a) 	
      The execution and delivery of this Agreement by the
      Purchaser and the consummation of the Transaction has been authorized by
      the Purchaser and does not breach any agreement to which the Purchaser is
      a party or by which he is bound.

	 	 	 
	 	(b) 	
      This Agreement has been duly executed and delivered by
      the Purchaser or his duly appointed power of attorney and representative,
      and all documents required hereunder to be executed and delivered by the
      Purchaser shall have been duly executed and delivered by the Purchaser,
      and this Agreement does, and such documents and instruments shall,
      constitute legal, valid and binding obligations of the Purchaser and are
      enforceable in accordance with their respective
terms.

	4.2. 	
      AUTHORITY

The Purchaser has good right, full power and absolute authority
to purchase the Shares on the terms described herein and in the manner
contemplated by this Agreement.

	4.3. 	
      INCOME TAX

	 	(a) 	
      The Purchaser is a resident of Canada within the meaning
      of the Income Tax Act;

	 	 	 
	 	(b) 	
      All remittance to the Canada Revenue Agency due by the
      Corporation at the Closing Date, have been
remitted.

	4.4. 	
      CONSENTS

	 	(a) 	
      No consents of, filings with or approval of any
      governmental or regulatory body or authority is required by the Purchaser
      to purchase the Shares from the Vendor.

	 	 	 
	 	(b) 	
      The Purchaser is not obligated to obtain the written
      consent of any person to the transaction contemplated by this Agreement,
      other than those persons from whom consent has, or prior to the Closing
      Date, will be obtained.

	4.5. 	
      REPRESENTATIONS AND WARRANTIES SURVIVING CLOSING
      DATE

	 	(a) 	
      The covenants, representations and warranties of the
      Purchaser contained in Section Four hereof and elsewhere in this
      Agreement, and in certificate or other material delivered under this
      Agreement are accurate and complete, do not contain any untrue statement
      of any material facts or, considered in the context in which presented,
      omit to state a material fact necessary in order to make the statements
      and information contained herein and therein misleading.

	 	 	 
	 	(b) 	
      Any claims against the Purchaser by the Vendor pursuant
      to the terms hereof shall not be enforceable against the Purchaser unless
      notice thereof shall have been given in writing to the Purchaser within
      one (1) year of the Closing Date.

	 	 	 
	 	(c) 	
      Each and every right, remedy and power granted to the
      Vendor hereunder pursuant to Section Four or under any documents or
      instruments delivered pursuant to the terms and conditions hereof, shall be cumulative and shall be
in addition to any other right, remedy or power herein or therein specifically
granted or hereinafter existing in equity at law, by virtue or statue or
otherwise and every such right, remedy and power may be exercised by the Vendor
from time to time concurrently or independently and as often and in such order
as the Purchaser may deem expedient. 

8 

	 	(d) 	
      Notwithstanding Section 4.6(c) a claim for any breach of
      any of the representations and warranties contained in this Agreement or
      in any contract, agreement, instrument, certificate or other document
      executed or delivered pursuant hereto involving fraud or fraudulent
      misrepresentations may be made at any time following the Closing Date,
      subject only to applicable limitation periods imposed by applicable
      law.

SECTION FIVE 
COMPLETION OF PURCHASE

	5.1. 	
      PURCHASER’S CONDITIONS

The obligation of the Purchaser to complete the purchase of the
Shares contemplated herein, is subject to the fulfilment of each of the
following conditions precedent, unless waived in writing by the Purchaser. 

	 	(a) 	
      The Vendor’s Representations, Warranties
      and Covenants: At the Time of Closing, the Vendor shall have executed,
      delivered and performed all agreements and documents on its part to be
      performed hereunder; all representations and warranties contained in
      Section Three shall be true at the Time of Closing, except where a
      different date is otherwise specified therein, and in such case, at the
      date specified, with the same effect as if made on and as of such date,
      the Vendor shall deliver a Certificate executed as of the Time of Closing
      certifying that all representations and warranties of the Corporation and
      the Vendor as contained herein are true and correct as of such date,
      except where a different date is otherwise specified therein, and in such
      case, at the date specified.

	 	 	 
	 	(b) 	
      Approvals: At the Closing Date, there shall have
      been obtained the written consents or approvals, in form and substance
      satisfactory to the Purchaser, acting reasonably, of any governmental or
      regulatory agency or person whose consent to the transactions contemplated
      hereby is required, including, but without limitation the approval by the
      board of directors of the Corporation.

	 	 	 
	 	(c) 	
      Closing Documents: The Corporation shall have
      executed and delivered to the Purchaser all documents as the Purchaser or
      the Purchaser’s Counsel may reasonably request for the purposes of
      effecting the transfer and delivery of the Shares in accordance with the
      terms of this Agreement, including the
following:

	 	i. 	
      Certificate representing the Shares, accompanied by stock
      transfer powers duly executed in blank or duly executed instruments of
      transfer, and all such other assurances, consents and other documents as
      the Purchaser may reasonably request to effectively transfer to the Purchaser
title to the Shares free and clear of all encumbrances; 

9 

	 	ii. 	
      Original share registers, share transfer ledgers, minute
      books and corporate seals (if any) of the Corporation;

	 	 	 
	 	iii. 	
      All other Books and Records of the Corporation in the
      possession of the Vendor; and

	 	 	 
	 	iv. 	
      A certified copy of a resolution of the board of
      directors of the Corporation consenting to the transfer of the Shares from
      the Vendor to the Purchaser as contemplated by this
  Agreement.

	 	(d) 	
      Delivery of Documents: The Vendor shall deliver to
      the Purchaser, or make arrangements satisfactory to the Purchaser, to
      deliver, in organized form all Documents relating to the Corporation as
      are in the possession of the Vendor at the Closing
Date.

If any such conditions shall not be fulfilled or waived in
writing by the Purchaser at or prior to the Time of Closing, the Purchaser may
rescind this Agreement by written notice to the Vendor and, in such event, the
Purchaser and the Vendor shall be released from all obligations hereunder.
Notwithstanding the foregoing, the Purchaser acknowledges that the $100,000
deposit is non-refundable to the Purchaser. 

	5.2. 	
      VENDOR'S CONDITIONS

The obligation of the Vendor to complete the sale of the Shares
contemplated herein, is subject to the fulfilment of the condition precedent,
unless waived in writing by the Vendor, that at the Closing Date the
representations and warranties contained in Section Four shall be true at the
Closing Date with the same effect as if made on and as of such date. 

	5.3. 	
      RESCISSION AND TERMINATION

In the event this Agreement is rescinded and terminated
pursuant to the provisions of Section 5.1 and Section 5.2 hereof, each Party
shall be released from all obligations hereunder and each Party shall take all
reasonable actions to return the other Parties to the position relative to the
Shares which such Party occupied prior to the execution hereof. 

SECTION SIX 
INDEMNIFICATION 

	6.1. 	
      MUTUAL INDEMNIFICATIONS FOR BREACHES OF WARRANTIES,
      ETC.

The Vendor hereby covenants and agrees with the Purchaser and
the Purchaser hereby covenants and agrees with the Vendor (the party or parties
so covenanting and agreeing to indemnify another party or parties hereinafter in
this Section referred to as the “Indemnifying Party” and the party or parties so
to be indemnified being hereinafter called the “Indemnified Party”) to indemnify
and save harmless the Indemnified Party, effective as and from the Closing Date,
from and against any claims, demands, actions, causes of action, damages, loss,
costs, liability or expense (hereinafter in this Section called “Claims”) which
may be made or brought against the Indemnified Party and/or which it may suffer
or incur as a result of, in respect of, or arising out of any non-fulfilment of
any covenant or agreement on the part of the Indemnifying Party under this
Agreement or any incorrectness in or breach of any representation or warranty or
covenant of the Indemnifying Party contained herein or in any certificate or
other document furnished by the Indemnifying Party pursuant hereto. 

10 

SECTION SEVEN 
CLOSING 

	7.1. 	
      CLOSING AND CLOSING DATE

The Closing of the sale and purchase herein contemplated shall
take place at the offices of VAN DER WISSEL Law Firm in Calgary, Alberta, on the
Closing Date or upon such earlier or later time and date as may be agreed upon
between the Parties. 

SECTION EIGHT 
RESTRICTIVE COVENANT 

For the period of three (3) years from the Closing the Vendor
and its shareholders, officers and directors, shall not anywhere within 200
kilometres from the Town of Brooks, without the prior consent in writing of the
Corporation, either individually or in partnership or in conjunction with any
other person or persons, firm or corporation as employee, principal, officer,
agent stockholder or in any other manner whatsoever directly or indirectly carry
on or be engaged or concerned with or interested in or advise or act as
consultant for, lend money to, guarantee the debts or obligations of, or
otherwise provide financial assistance for, a business that is in competition
with the business of the Corporation as conducted by the Corporation at the
Closing Date.

SECTION EIGHT 
GENERAL 

	8.1. 	
      EXPENSES

All Parties shall be responsible for their own legal and audit
fees and other charges and expenses incurred in connection with the purchase and
sale of the Shares, the preparation of this Agreement and all negotiations
between the Parties. 

	8.2. 	
      TIME OF THE ESSENCE

Time shall be of the essence of this Agreement. 

	8.3. 	
      GOVERNING LAW

This Agreement shall be construed in accordance with the laws
of the Province of Alberta, and the parties hereto attorn to the courts of such
jurisdiction. 

11 

	8.4. 	
      COUNTERPARTS

This Agreement may be executed in several counterparts, each of
which so executed shall be deemed to be an original, and such counterparts
together shall constitute one and the same instrument and, notwithstanding their
date of execution, shall be deemed to bear the date as of the date above
written. 

	8.5. 	
      NOTICES

Any notice required or permitted to be given by a Party to the
other shall be given in writing and addressed: 

	 	(a) 	
      if to the Vendor at:

	 	ALTA DISPOSAL LTD. 
	 	Suite 300, 840 – 6 Avenue SW 
	 	Calgary, Alberta T2P 3E5 
	 	Attention: Alex Walsh, President 
	 	Telephone: (403) 930-1925 
	 	Email: aw@lithiumexplorationgroup.com

	 	(b) 	
      if to the Purchaser or the Corporation
  at:

	 	VAN DER WISSEL Law Firm 
	 	200, 638 – 11th Ave. S.W. 
	 	Calgary, AlbertaT2S 0J7 
	 	Telephone: (403) 537-9935 
	 	Email: svanderwissel@vdwlaw.ca 

Any such notice shall be delivered, or mailed by prepaid
registered post. Any notice delivered as aforesaid shall be deemed to have been
received by the Party to which it is so delivered at the time on the date of its
being so delivered. Any notice mailed as aforesaid shall be deemed to have been
received by the Party to which it is so mailed on the third business day next
following the time on the date of it being so mailed. Any Party may change its
address for notice by giving notice to that effect. 

	8.6. 	
      ENUREMENT

This Agreement shall enure to the benefit of the Parties, their
respective heirs, successors and permitted assigns. 

	8.7. 	
      FURTHER ASSURANCES

The Vendor will from time to time, on and after the Closing
Date, at the request and expense of the Purchaser, execute and deliver all such
other additional instruments, notices, releases and other documents and shall do
all such other acts and things as may be reasonably necessary to more fully
convey the Shares to the Purchaser. 

12 

	8.8. 	
      PUBLIC ANNOUNCEMENTS

	 	(a) 	
      The Parties acknowledge that the Vendor is a wholly owned
      subsidiary of a reporting issuer, that the Vendor and its parent company
      are required to give public disclosure with respect to the Transaction and
      any ongoing matters with respect to the Corporation and the Corporation
      and the Purchaser hereby consent to any such disclosure required to
      satisfy the Vendor’s reporting requirements.

	 	 	 
	 	(b) 	
      Notwithstanding the foregoing, the Parties may disclose
      any information required to be disclosed to any federal, provincial, state
      or local government or governmental agency or regulatory body, branch,
      board, agency or necessary to comply with relevant timely disclosure laws
      or the requirements of regulatory authorities, including stock exchange,
      having jurisdiction in respect of the securities of the
  Parties.

Remainder of page left blank intentionally

13 

	8.9. 	
      SEVERABILITY

If, in any jurisdiction, any provision of this Agreement or its
application to any Party or circumstance is restricted, prohibited or
unenforceable, that provision shall, as to that jurisdiction, be ineffective
only to the extent of that restriction, prohibition or unenforceability without
invalidating the remaining provisions of this Agreement, without affecting the
validity or enforceability of that provision in any other jurisdiction and, if
applicable, without affecting its application to the other parties or
circumstances. The Parties shall engage in good faith negotiations to replace
any provision which is so restricted, prohibited or unenforceable with an
unrestricted and enforceable provision, the economic effect of which comes as
close as possible to that of the restricted, prohibited or unenforceable
provision which it replaces. 

IN WITNESS WHEREOF the Parties have executed this
Agreement as of the date and year first above written. 

	 	 	ALTA DISPOSAL LTD.
	 	 	 
	 	 	
		Per: 	Alexander Walsh, President 
	 	 	 
	 	 	 
	Witness 	 	NATEL HOFMANN 
	 	 	 
	 	 	 
	  	 	TERO OILFIELD SERVICES LTD. 
	 	 	 
	 	 	 
		Per: 	Gary Hofmann 

14 

SCHEDULE “A”

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