ACQUISITION AGREEMENT
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Cheetah Oil & Gas Limited |
Exhibit 10.17
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May 12, 2004 |
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ACQUISITION AGREEMENT |
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Between; |
Cheetah Oil & Gas Limited | |||
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Xxx 000, Xxxxxxx X., |
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Xxxxxxx, X.X. X0X 0X0 |
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And |
Shareholders of Scotia Petroleum Inc |
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c/o Suite 902 – 1788 Xxxx Xxxxxxxx0, | ||||
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Xxxxxxxxx, X.X. X0X 0X0 |
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Cheetah Oil & Gas Limited agrees to purchase 85.14% of the shares of Scotia Petroleum Ltd. for the following consideration:
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1. |
Cash in the amount of $ 301,887 US to purchase 10,500,000 Scotia Petroleum |
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Inc. shares held by Xxxxxx X. Xxxxxxxx, Xxxxx X. Xxxxxxxx and Xxxxxxx Xxxxxxxx. | |||
2. Cheetah Shares totaling 256,315 restricted Cheetah Common Stock to purchase 21,018,829 Scotia Petroleum Inc.shares.
3. It is understood that Xxxx Xxxxxx as President has the agreement from theshareholders representing 85.14% of the outstanding shares of Scotia Petroleum Inc.
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Signed on behalf of Scotia Petroleum Inc. |
/s/ Xxxx Xxxxxx |
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Xxxx Xxxxxx, President | |||
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Signed on behalf of Cheetah Oil & Gas Ltd. /s/ Xxxxxxxx Xxxxxx |
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Xxxxxxxx Xxxxxx, President | ||
