SHARE PURCHASE OPTION AGREEMENT
Exhibit 10.25
October 1, 2002
SHARE PURCHASE OPTION AGREEMENT
TO:
Xxxxxx X. Xxxx
0000 Xxxxxxxxx Xxxxx
000 Xxxx Xxxxxxx Xxxxxx
Xxxxxxxxx, XX X0X 0X0
1.
In consideration of the sum of $1.00 and other good and valuable consideration (the receipt and sufficiency of which is hereby acknowleged), Xxxxx Xx (the “Optionor”) grants to Xxxxxx X. Xxxx (the “Optionee”) the sole and exclusive irrevocable option (the “Option”) exercisable at any time up to and including, but not after, February 28, 2005, to purchase 3,000,000 common shares (the “Shares”) owned by the Optionor in the capital stock of China Ventures Inc. for an aggregate purchase price of $150,000.00 (the “Purchase Price”), being $0.05 per common share.
2.
The Option may be exercised by written notice given to the Optionor by delivery to the address given below, or by transmittal by facsimile at the number given below (provided that the transmittal is confirmed by telephone call) or to such other address or facsimile number as the Optionor may from time to time notify the Optionee in writing. If the Option is so exercised, the Optionor shall sell, and the Optionee or his assigns shall purchase, the Shares for the Purchase Price.
3.
The said sale of the Shares shall be closed of the fifth business day following the date of the exercise of the Option when payment of the Purchase Price shall be made by banker’s draft or certified cheque payable to or to the order of the Optionor against delivery to the Optionee of the share certificates representing the Shares, a stock power of attorney on respect of the Shares duly endorsed in blank for transfer with signature guaranteed and upon actual registration of the transfer of the Shares with the Computershare Trust Company of Canada.
4.
The Option may be assigned by the Optionee.
5.
All sums referred to herein are in Canadian funds.
6.
Time shall be the essence hereof.
7.
This Agreement shall be governed by and construed in accordance with the laws of the Province of British Columbia.
8.
This Agreement may be executed in counterparts and such counterparts may be delivered by facsimile. Each executed counterpart shall be deemed to be an original and such counterpart shall together constitute one and the same agreement.
9.
This agreement supersedes any other share purchase option agreement between Optionor and Optionee.
If the above is in accordance with your understanding, please sign and return to the Optionor a copy of this Agreement, whereupon this Agreement and your acceptance shall constitute a binding agreement between the Optionee and the Optionor.
SIGNED, SEALED AND DELIVERED by
the Optionor, XXXXX XX, in the presence of:
“signed”
__________________________________
_______________________
Signature
XXXXX XX
__________________________________
Address
__________________________________
Occupation
This Agreement is hereby accepted and agreed to as of the date first written above.
SIGNED, SEALED AND DELIVERED by
the Optionee, XXXXXX X. XXXX, in the presence of:
Xxxxxx Xxxxxxx
“signed”
__________________________________
_______________________
Signature
XXXXXX X. XXXX
1118 – 000 Xxxx Xxxxxxx Xx.
__________________________________
Address
Executive Assistant
__________________________________
Occupation