Corporate Obligations

Summary of Corporate Obligations

The Company has outstanding contingent value rights (“CVR’s”) which entitles each holder to receive, net of certain deductions, a pro rata portion of a maximum aggregate amount of 5.468% of the proceeds received by us with respect to the Arbitral Award or disposition of the technical data related to the development of the Brisas Project.  In addition, the Company also maintains 1) a Bonus Pool Plan; and 2) Change of Control Agreements with each of the named executive officers.

Subject to applicable regulatory requirements regarding capital and reserves for operating expenses, accounts payable and income taxes, and any obligations arising as a result of the collection of the ICSID Award including obligations pursuant to the CVR’s and the Bonus Plan or undertakings made to a court of law, our current plans are to distribute to our shareholders, in the most cost efficient manner, a substantial majority of any net proceeds.