On March 26, 2012, the board of directors appointed the following
new officers and directors:
· David Hedderly-Smith Chief Executive Officer
and Chairman of the Board
· Robert W. George II Director and President
· James McLaughlin Director, Chief Financial
Officer, and Treasurer
· David Saykally Director and Secretary
Concurrently, Robert W. George II resigned as CEO and as the
Chairman of the Board.
On December 5, 2012, the board of directors appointed the following
new officers and directors:
· Phillip L. Allen Director and President
· Iain Stewart Director, Secretary, Treasurer,
and acting Chief Financial Officer
· Robert Carey Director and Vice President of
· Robert Ruby Director
Following these appointments, the board accepted the resignations
of Robert W. George II as President and Director, James McLaughlin CFO, Director and Treasurer, and David Saykally as Director
On April 5, 2012, Goldspan entered into
a non-binding letter of intent with Alix Resources Corp. (Alix) for the potential purchase of an option to acquire
a 60% ownership interest in certain mineral properties known as the Golden Zone Property located in the State of
Alaska (the Property). The Property is located along the south flank of the Alaska Range 15 miles west of the Parks
Highway, approximately halfway between the cities of Anchorage and Fairbanks. Alix has the existing option on the Property (the
Underlying Option) which was entered into in September of 2010 with Hidefield Gold Inc. and Mines Trust Company (collectively
the "Owners") whereby Alix can earn up to a 70% interest in the Property.
The letter of intent contemplates the sale of an option to us
which, when exercised in conjunction with the Underlying Option held by Alix, will result in our ownership of 60% of the Property,
with Alix retaining 10% ownership.
The letter of intent was to expire on May
15, 2012 provided no definitive agreement was reached between the Parties. On June 22, 2012, Alix and Goldspan agreed to extend
the May 15, 2012 deadline to July 15, 2012. On July 16, 2012, the letter of intent was further extended to July 25, 2012. On August
7, 2012, the agreement was extended to August 31, 2012, and a non-refundable deposit of $35,000 was paid. On December 7, 2012,
the letter of intent was further extended, and the following payment schedule was agreed to: a series of three $100,000 (Canadian
dollars) payments due December 31, 2012; January 31, 2013; and February 28, 2013. Goldspan also agreed to reimburse Alix no later
than February 28, 2013 for costs totaling approximately $203,700 relating to the Gold Zone property. Goldspan also agreed to reimburse
Alix $76,811, for amounts due under the Underlying Option. In consideration of Alix granting this extension, Goldspan issued 5,000,000
common shares in December, 2012.
In accordance with ASC 855-10, the Companys
management has analyzed its operations through the date on which the financial statements were issued, and has determined it does
not have any material subsequent events to disclose other than those discussed above.