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On July 13th, 2007, Canada Gold sold the Santa Gertrudis Property, and on February 28, 2008, the San Enrique Property, both to Animas Resources Ltd. (tsx.v:ANI) under various terms and considerations, including:
- $726,386 in cash and 1,500,000 common shares of Animas subject to an Escrow Agreement.
| Release Dates | Shares to be Released | Received | Escrow Balance |
| July 13, 2007 | 150,000 | 150,000 | - |
| January 13, 2008 | 225,000 | 225,000 | - |
| July 13, 2008 | 225,000 | 225,000 | - |
| January 13, 2009 | 225,000 | 225,000 | - |
| July 13, 2009 | 225,000 | 225,000 | - |
| January 13, 2010 | 225,000 | - | 225,000 |
| July 13, 2010 | 225,000 | - | 225,000 |
| Total | 1,500,000 | 1,050,000 | 450,000 |
- 3 additional payments of US $500,000 in cash and/or common shares of Animas Resources Ltd. at the option of Animas Resources Ltd. on the first, second and third anniversaries of the closing date.
| Payment Dates | Amount | Payment in Cash |
Payment in Common Shares | Common Shares | Receivable Balance |
| July 10, 2008 | $500,000 US | - | $500,000 US | 325,829 | - |
| July 10, 2009 | $500,000 US | - | $250,000 US | 637,700 | * $250,000 US |
| July 10, 2010 | $500,000 US | - | - | - | * $500,000 US |
| Total | $1,500,000 US | - | $500,000 US | 325,829 | $1,000,000 US |
On February 29, 2008, Animas exercised the option to acquire a 100% interest in the San Enrique property. As consideration, Animas elected to issue 307,429 common shares with a value of US $450,000 based on a deemed value per share equal to a 30 day weighed average trading price. Terms of the option also include US $20 for each ounce in excess of 45,000 ounces on the properties subject to the option in accordance with certain other terms and independent verification in compliance with National Instrument 43-101.
* On May 11th, 2009, Canada Gold and Animas renegotiated the terms of the remaining anniversary payments. The new payment due dates are the following:
| US$ (in cash or common shares at the option of Animas) |
Shares | |
| On approval | - | 254,454 |
| Jan. 31, 2010 (previously July 2009) | $250,000 US | - |
| July 31, 2010 (previously $500,000 July 2010) | $250,000 US | - |
| Jan. 31, 2011 (previously July 2010) | $250,000 US | - |
| Total | $750,000 US | 254,454 |
Canada Gold holds approximately 2.7 million common shares in Animas (tsx.v: ANI).
