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EXCEL - IDEA: XBRL DOCUMENT - ARX Gold CorpFinancial_Report.xls
10-Q/A - FORM 10-Q AMENDMENT (TO FILE XBRL) - ARX Gold Corpdaulton_10qa-073112.htm
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v2.4.0.6
8. Subsequent Events
15 Months Ended
Jul. 31, 2012
Subsequent Events [Abstract]  
8. Subsequent Events

On August 28, 2012, Daulton Capital Corp and the Shareholders of Grimsby Investments Ltd. entered into an Amendment to their previously signed Share Purchase Agreement of May 12, 2012, solely to address two previous conditions between the parties, namely the Company’s obligations under that agreement to tender preferred shares and funds payable to the shareholders of Grimsby Investments Ltd. §a of that Agreement called for $75,000,000 of the debt to be converted into preferred shares. That section and obligation was specifically waved and cancelled. §b of that Agreement called for $75,000,000 of the debt to be secured by a 10 year promissory note. That section and obligation was specifically amended by the waiver and cancellation of obligation to pay $67,500,000 of the debt. The remaining $7,500,000 of the debt remains, and is evidenced by a 10 year promissory note in favor of Endx Pte Limited and TigerSprey Pte Limited.