Business
Notice of Material Transaction
Notice of Material Transaction.
About this update from Dynaresource, Inc.
[{"type":"text","content":"DYNARESOURCE, INC.:\n\"NOTICE OF MATERIAL TRANSACTION\"\n\nJULY 15, 2007:\n\nDynaResource, Inc. sets forth the following Notice of Material Transaction, (The \"Stock Purchase and EARN IN\" Agreement (\"EARN IN\"), DATED September 1, 2006; Between: DynaResource, Inc. (\"DynaResource\") and DynaResource de Mexico SA. de CV. (\"DynaMexico\"), (\"Seller\"); and Goldgroup Resources, Inc., of Vancouver, British Columbia (\"Goldgroup\"), (\"Buyer\"), and Together, (\"the Parties\"). \n\nThe EARN IN provides for the sale of up to Fifty per cent (50 %) of the Total Outstanding Shares of DynaMexico, the wholly owned subsidiary of DynaResource, and the Owner of the San Jose de Gracia District in Northern Sinaloa Mexico (\"SJG\"); In Exchange for the Total Cash Contributions from Goldgroup to DynaMexico, and Expenditures through DynaMexico related to the Exploration and Development of the SJG, in the amount of Eighteen Million Dollars USD. ($ 18,000,000.); Contributed and Expended in Four (4) Phases, as set forth below:\n\nPHASE 1: Completion Date - June 15, 2007; Capital Expended -$ 1,000,000. USD.; Interest Earned - 0% (total of 0% of DynaMexico Shares); PHASE 2: Completion Date - March 15, 2008; Capital Expended - $ 2,000,000. USD.; Interest Earned - 15% (Total Capital Expended of $ 3 M. USD, Total Earned of 15% of DynaMexico Shares); PHASE 3: Completion Date - September 15, 2009; Capital Expended - $3,000,000. USD.; Interest Earned - 10% (Total Capital Expended of $ 6 M. USD., Total Earned of 25% of DynaMexico Shares); PHASE 4: Completion Date - March 15, 2011; Capital Expended - $ 12,000,000. USD.; Interest Earned - 25% (Total Capital Expended of $ 18 M. USD., Total Interest Earned of 50% of DynaMexico Shares). \n\nPursuant to the Earn In Agreement:\n\n1. DynaResource attached the \"SJG Title Opinion\", compiled by Urias Romero y Asociados, Abraham Urias, Mazatlan, Sinaloa, with attachments and schedules; describing the status and position of DynaMexico and it's Affiliates in Mexico, and confirming the Ownership and Status of the Mining Concessions comprising the SJG District in Sinaloa, Mexico; \n\n2. DynaResource attached its Audited, Consolidated Financial Statement at December 31, 2005; \n\n3. The Parties agree to a Revised Setting of the Board of Directors of DynaMexico, to: a. Two (2) Members of DynaResource; K.D. Diepholz, Chair...