SEC Contract Filing

Filing Date: 2015-03-16

Document Content:
<DOCUMENT>
<TYPE>EX-10.53
<SEQUENCE>4
<FILENAME>srgldircap1053_ex10z53.htm
<DESCRIPTION>EXHIBIT 10.53
<TEXT>
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<HEAD>
<TITLE>NEITHER THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY</TITLE>
<META NAME="author" CONTENT="Majorminoroil">
<META NAME="date" CONTENT="03/16/2015">
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<A NAME="Pg1"></A><DIV style="width:792px"><P style="margin:0px"><BR></P>
<P style="line-height:13.8pt; margin:0px"><BR></P>
<P style="line-height:13.8pt; margin:0px"><BR></P>
<P style="line-height:13.8pt; margin:0px"><BR></P>
<P style="line-height:13.8pt; margin-top:4.2px; margin-bottom:0px; padding-left:96px; padding-right:82.8px; font-family:'Times New Roman Bold,Times New Roman'; font-size:12pt">NEITHER THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY <BR>
THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES <BR>
ARE CONVERTIBLE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT <BR>
OF 1933, &nbsp;AS &nbsp;AMENDED, OR &nbsp;APPLICABLE &nbsp;STATE SECURITIES LAWS. &nbsp;&nbsp;THE <BR>
SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR <BR>
ASSIGNED (I) &nbsp;IN &nbsp;THE &nbsp;ABSENCE &nbsp;OF (A) &nbsp;AN &nbsp;EFFECTIVE &nbsp;REGISTRATION </P>
<P style="line-height:13.65pt; margin-top:0.467px; margin-bottom:0px; padding-left:95.933px; padding-right:82.933px; font-family:'Times New Roman Bold,Times New Roman'; font-size:12pt">STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS <BR>
AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE <BR>
SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM, THAT <BR>
REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD </P>
<P style=margin-top:1.133px;margin-bottom:-1pt;font-size:1pt /><P style="line-height:13.8pt; margin-top:0px; margin-bottom:-2px; text-indent:95.933px; width:320.267px; font-family:'Times New Roman Bold,Times New Roman'; font-size:12pt; float:left">PURSUANT &nbsp;&nbsp;&nbsp;TO &nbsp;&nbsp;&nbsp;RULE</P>
<P style="line-height:13.8pt; margin-top:0px; margin-bottom:-2px; width:47.2px; font-family:'Times New Roman Bold,Times New Roman'; font-size:12pt; float:left">144</P>
<P style="line-height:13.8pt; margin-top:0px; margin-bottom:-2px; width:114.733px; font-family:'Times New Roman Bold,Times New Roman'; font-size:12pt; float:left">OR &nbsp;&nbsp;&nbsp;RULE</P>
<P style="line-height:13.8pt; margin:0px; padding-left:95.933px; text-indent:-2px; font-family:'Times New Roman Bold,Times New Roman'; font-size:12pt">144A &nbsp;&nbsp;&nbsp;UNDER &nbsp;&nbsp;&nbsp;SAID &nbsp;&nbsp;&nbsp;ACT.</P>
<P style="line-height:14pt; margin:0px; padding-left:95.933px; padding-right:82.933px; font-family:'Times New Roman Bold,Times New Roman'; font-size:12pt; clear:left">NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES. </P>
<P style="line-height:13.8pt; margin:0px"><BR></P>
<P style=margin-top:17.667px;margin-bottom:-1pt;font-size:1pt /><P style="line-height:13.8pt; margin-top:0px; margin-bottom:-2px; text-indent:95.933px; width:480px; font-family:'Times New Roman Bold,Times New Roman'; font-size:12pt; float:left">Principal Amount: $360,000.00</P>
<P style="line-height:13.8pt; margin:0px; padding-left:95.933px; text-indent:-2px; font-family:'Times New Roman Bold,Times New Roman'; font-size:12pt">Issue Date: December 31, 2014</P>
<P style="line-height:13.6pt; margin:0px; padding-left:95.933px; font-family:'Times New Roman Bold,Times New Roman'; font-size:12pt; clear:left">Debt Settlement Price: $360,000.00 </P>
<P style="line-height:13.8pt; margin:0px"><BR></P>
<P style="line-height:13.8pt; margin-top:17.933px; margin-bottom:0px; padding-left:268px; font-family:'Times New Roman Bold,Times New Roman'; font-size:12pt"><U>CONVERTIBLE PROMISSORY NOTE </U></P>
<P style="line-height:13pt; margin:0px"><BR></P>
<P style="line-height:13pt; margin-top:2.533px; margin-bottom:0px; padding-left:96px; padding-right:83.2px; font-family:'Times New Roman Bold,Times New Roman'; font-size:12pt">Source Gold Corp.<FONT style="font-family:'Times New Roman'">, a Nevada &nbsp;corporation (hereinafter &nbsp;called &nbsp;the &#147;Borrower&#148;), &nbsp;hereby &nbsp;promises &nbsp;to &nbsp;pay &nbsp;to &nbsp;the &nbsp;order &nbsp;of </FONT>&nbsp;Direct Capital Group Inc<FONT style="font-family:'Times New Roman'">, a Nevada corporation, or registered assigns (the &#147;Holder&#148;) the sum of $360,000.00 together with any interest as set forth herein, on July 1, 2015 (the &#147;Maturity Date&#148;), and to pay interest on the unpaid principal balance hereof at the rate of eight percent (8%) (the &#147;Interest Rate&#148;) per annum from the date hereof (the &#147;Issue Date&#148;) until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. &nbsp;This Note may not be prepaid in whole or in part except as otherwise explicitly set forth herein. Any amount of principal or interest on this Note, which is not paid when due shall bear interest at the rate of twenty two percent (22%) per annum from the due date thereof until the same is paid (&#147;Default Interest&#148;). &nbsp;Interest shall commence accruing on the date that the Note is fully paid and shall be computed on the basis of a 365-day year and the actual number of days elapsed. &nbsp;All payments due hereunder (to the extent not converted into Common free trading stock, $0.00001par value per share (the &#147;Common Stock&#148;) in accordance with the terms hereof) shall be made in lawful money of the United States of America. &nbsp;All payments shall be made at such address as the Holder shall hereafter give to the Borrower by written notice made in accordance with the provisions of this Note. &nbsp;Whenever any amount expressed to be due by the terms of this Note is due o