Mexus Gold US (MXSG)

[Eli's Gone]

https://www.sec.gov/Archives/edgar/data/1355677/000107878216003149/f10k033116_10k.htm

As of July 6, 2016, there were 532,731,149 shares of our common stock were issued and outstanding.



18. SUBSEQUENT EVENTS



Exploitation and Mining Concessions Agreement


Effective May 19, 2016, Mexus Gold Mining, S.A. de C.V., a wholly owned Mexican subsidiary of the Company entered into an Exploration, Exploitation and Mining Concessions Agreement with Marmar Holding SA de C.V. (“Marmar”) in regard to the Santa Elena (formally known as Julio) mining project Mining Concession with title 221448 and Mining Concession with title 221447 on the lot called Marta Elena.


Pursuant to the terms of the Agreement, Mexus will contribute its interests in both properties and equipment to the joint venture and Marmar will contribute production expertise, equipment and administrative capability to immediately begin operations on the Santa Elena project and will bear all costs associated with operations and administration.


Profits from net revenues will be distributed 5% Mexus and 95% to Marmar until “Payout” which is defined as the point when Marmar has recovered its original operational and administrative costs associated with the Project. Thereafter, revenues will be split between the parties on a 50/50 basis.