SCOUT EXPLORATION, INC.
Exhibit
99.1
609 – 000
Xxxx Xxxxxx
Xxxxxxxxx,
X.X. X0X 0X0
June 2,
2009
Water
Wise Environmental Solutions Inc.
A
propritoryship controled by Xxxx Xxxxx
XX Xxx
00000-0000 X 00xx
Xxxxxxxxx
XX
X0X
0X0
Dear
Sirs:
The
purpose of this letter is to set out a Letter of Intent between Scout
Exploration, Inc. (“Scout”) and Water Wise Environmental Solutions Inc. (“Water
Wise”).
Water
Wise is the registered and beneficial owner of certain industrial products
designated the “peon” and the “lawn caddy” which are described in Schedule A
attached to this letter.
Scout
wishes to acquire all of Water Wise’s rights to the “peon” and the “lawn caddy”
in consideration for 4,000,000 shares of Scout which shall be issued and
allotted to Water Wise on the following terms:
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a)
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first
tranche of 1,000,000 shares will be issued and allotted to Water Wise upon
Scout arranging an equity or debt financing of $250,000 which financing
will be expended to develop working proto types of the “peon”
and the “Plant caddy” and to market these products on a commercial
basis. This financing shall be closed on or before September
30, 2009;
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b)
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Upon
Water Wise filing a patent pending on the “peon” and the “Plant caddy”,
and the creation of a working proto type of the “peon:, Scout will issue
to Water Wise a further tranche of 1,000,000
shares;
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c)
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Upon
Water Wise producing a working proto type of the “lawn caddy”, Scout will
issue and allot a further tranche of 1,000,000 shares to Water
Wise; and
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d)
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Upon
Water Wise reaching commercial production and commercial sales of either
product, Scout will issue and allot a final tranche of 1,000,000
shares.
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On or
before September 30, 2009, the parties should enter into a formal agreement
setting out the terms of the acquisiton of the rights to the
products.
If this
offer is acceptable to yourself, pelase sign below.
Yours truly, |
AGREED AND ACCEPTED to, this
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________ day of June, 2009. | ||
WATER WISE
ENVIRONMENTAL
SOLUTIONS
INC.
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Per: ___________________________ | Per: ___________________________ | |
Authorized Signatory | Authorized Signatory |
SCHEDULE
A
“PEON”
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1.
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Water
Wise Peon ™
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“LAWN
CADDY”
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2.
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Water
Wise Plant Caddy ™
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3.
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Water
Wise Garden Caddy ™
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4.
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Water
Wise Lawn Caddy ™
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5.
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Water
Wise Pool Caddy ™
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