Jipangu International Inc. Secures US$35,000,000 in Loans

Acted for Jipangu International Inc. in the closure of a US$35 million gold monetization loan transaction from Waterton Global Value, L.P.

Matter Value: CAD 35,000,000

November 17, 2011

Acted for Jipangu International Inc. in the closure of a US$35,000,000 gold monetization loan transaction from Waterton Global Value, L.P.

The transaction relates to Jipangu's two gold mines located in Nevada. The Davis LLP team was led by Eric Belli-Bivar, and included Sarah Bode and Susan Kacaba, Articled Student, in Toronto, and Hiroaki Takahashi and Hiroaki Shinomiya in Tokyo.