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CONVERTIBLE PROMISSORY NOTE

Convertible Promissory Note
CONVERTIBLE PROMISSORY NOTE | Document Parties: CANYON COPPER CORP. | Asset Protection Fund Ltd You are currently viewing:
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CANYON COPPER CORP. | Asset Protection Fund Ltd

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Title: CONVERTIBLE PROMISSORY NOTE
Date: 12/13/2006

CONVERTIBLE PROMISSORY NOTE, Parties: canyon copper corp. , asset protection fund ltd
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CONVERTIBLE PROMISSORY NOTE

 

 

EXECUTED BY:

 Canyon Copper Corp. (the "Borrower")

 

 

IN FAVOUR OF:

 Asset Protection Fund Ltd. (the "Lender")

 

 

PRINCIPAL AMOUNT:

 $250,000 (U.S.)

 

 

DATE OF EXECUTION:

 September 11, 2006

 

 

PLACE OF EXECUTION:

 Vancouver, BC, Canada

FOR VALUE RECEIVED the Borrower hereby promises to pay to or to the order of the Lender on April 11, 2007, the principal sum of $250,000 (U.S.), together with interest thereon at the rate of 8% per annum, both before and after maturity from the date hereof.

The Lender may at its option, at any time prior to April 11, 2007, convert all or any portion of the principal sum into that number of fully-paid and non-assessable shares of common stock of the Borrower (the “Conversion Shares”) as shall be equal to the principal sum at a conversion rate which shall be the lesser of $0.30 U.S. per share or the closing price of the Borrower’s shares for the bus


 
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