Assignment
This assignment is made this 28th day of May 2002 by and between New Cinema
Partners Inc. a Nevada Corporation (NCPP) and Travellers International Inc., an
Ontario Corporation (Travellers).
Whereas, Travellers has entered into an exclusive Letter of Intent (LOI) dated
May 24, 2002 to acquire Witnet Co. Ltd. A Korean Corporation (Witnet) attached
hereto as Exhibit "A".
Whereas, Travellers wishes to assign the LOI to NCPP on this date.
And Whereas NCPP has recognized the value of the Letter of Intent and wishes to
purchase the rights of the Letter of Intent from Travellers pursuant to the
terms and conditions as set out herein;
In full satisfaction of the assignment of the Letter of Intent from Travellers
to NCPP, Travellers shall receive Ten Million (10,000,000) common shares of New
Cinema Partners Inc. which shares shall be subject to restrictions pursuant to
Rule 144 of the General Rules and Regulations under the Securities Act of 1933
(the "Shares"). The Shares shall be registered in the following name and in the
following amounts and delivered to Travellers within 7 days of the date herein:
Travellers International Inc. 5,000,000
Travellers International Inc. 5,000,000
The Board of Directors of New Cinema Partners Inc. has consented to and approved
this transaction.
Therefore the parties have agreed that the Letter of Intent is hereby assigned
in its entirety to NCPP by Travellers for good and valued consideration and NCPP
has accepted such assignment.
Travellers International Inc.
Per:___________________
Name: Xxxx Xxxxxx
Title: President
I have the authority to bind the Corporation
New Cinema Partners Inc.
Per:___________________
Name: Xxxxxx Xxxxxxx
Title: President
I have the authority to bind the Corporation
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