Exhibit 1.0
ADDENDUM TO STOCK PURCHASE AGREEMENT (this "Agreement"), dated as of September
_____, 2002, among Elangaz, a corporation organized and existing under the laws
of the Republic of Moldova(hereinafter the "Seller" or the "Company"), Emerging
Markets Corporation ( "Purchaser") and Xxxxxxxxx Acquisition Corporation.
WHEREAS, on or about July 31, 2002 Seller and Purchaser entered into a
Stock Purchase Agreement whereby Seller agreed to issue and sell to the
Purchaser and the Purchaser agreed to purchase from the Seller the common stock
of Seller for two million (2,000,000) shares of the common stock of the
Purchaser.
WHEREAS, pursuant to Paragraph 2.1(j) of the Stock Purchase Agreement,
Seller was required to make such filings for legal and accounting purposes.
WHEREAS, as the necessary financial information for Seller is currently
unavailable, Purchaser is unable to proceed with its plans to commence public
trading of its securities, as it is unable to file the necessary documents.
WHEREAS, Xxxxxxxxx Acquisition previously entered into a Stock Purchase
Agreement between Purchaser and Xxxxxxxxx Acquisition Corporation in
contemplation of the acquisition between Seller and Purchaser.
Accordingly for other good and valuable consideration the receipt and
adequacy of which are hereby acknowledged, the Seller and the Purchaser agree to
rescind the Stock Purchase Agreement previously entered into between Seller and
Purchaser.
Xxxxxxxxx Acquisition Corporation specifically acknowledges that it
agrees to the rescission of the Stock Purchase Agreement between Seller and
Purchaser. Notwithstanding said rescission, Xxxxxxxxx Acquisition Corporation
consents and agrees to the same.
IN WITNESS WHEREOF, the parties hereto have caused this Addendum to the Stock
Purchase Agreement to be duly executed by their respective authorized
signatories as of the date first indicated above.
ELANGAZ
By: /s/ Anatol Tripadus
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Signature
President
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Title
EMERGING MARKETS CORPORATION
By: /s/ Octavian Chiriad
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Signature
President and CEO
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Title
XXXXXXXXX ACQUISITION CORPORATION
By: /s/ Xxxxxxx Xxxxxxxxx
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Signature
President
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Title
