(g) Releases
Mineralogy, International Minerals and Australasian have entered into a deed of
assignment and release whereby Mineralogy has agreed to assign to
Australasian debts owed by International Minerals to Mineralogy (an amount not
exceeding $10.5 million) and releases International Minerals from all other
claims which Mineralogy has or may have against International Minerals. For
the purposes of clarity the effect of this assignment is that there is no liability to
Mineralogy in respect of these debts.
Mineralogy further warrants pursuant to the deed of assignment and release that
it has paid or procured the discharge of all debts and liabilities owing by
International Minerals to any person other than Mineralogy.
AMHK, Fremery Resources Limited and PNK International Limited (parties
associated with AMHK) ("Fremery Parties") entered into a deed of release with
Mineralogy and International Minerals ("Mineralogy Parties"). Under this deed
the parties agree to terminate all agreements between the Fremery Parties and
the Mineralogy Parties and that, apart from as provided in the deed, no
Mineralogy Party has any obligation or liability to any Fremery Party.
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