Did anyone know David Marks and Frank Crivello charged TTGL $750,000 for finding Appco deal and they gave themselves 10 million warrants at $1.30 per share.
FINDERS FEE AGREEMENT
THIS FINDERS FEE AGREEMENT (this “Agreement”), entered into this 27th day of July, 2007, sets forth the arrangement between Crivello Group, LLC, a Florida limited liability company (“Finder”), and Titan Global Holdings, Inc., a Utah corporation (“Company”), with respect to consideration to which Finder may become entitled under the terms and conditions set forth in this Agreement.
1. Purpose. Finder has procured and presented an opportunity to the Company with respect to the potential purchase by the Company of Appalachian Oil Company, Inc. and related real estate assets (“Appco”). The Company had no contact with Appco or understanding of its availability for purchase until such time as it was introduced to the Company by the Finder.
2. Finder’s Consideration. If, during the term of this Agreement the Company or any affiliate or assignee of the Company shall complete the purchase of Appco, Finder will be given consideration as follows concurrently with the closing of the Appco purchase:
(a)
Finder shall be paid a cash fee equal to $750,000.
(b)
Finder shall be issued a warrant in the form attached hereto as Exhibit 2 to purchase 10,000,000 shares of the Company’s common stock, at an exercise price of $1.30 per share (or on a cashless basis), exercisable for a period of ten years.
AI
