STOCK PURCHASE AGREEMENT
This
AGREEMENT is made as of April 30, 2010 by and between Fusion Capital Investments
Corp. ("Purchaser") and CX2 Technologies, Inc. (the “Company”), collectively
“the Parties”, with respect to the purchase and sale of the Acquired Shares (as
hereinafter defined).
WITNESSETH:
WHEREAS,
the Company desires to sell, and Purchaser desires to acquire an
aggregate of the majority of the issued and outstanding shares of the
common stock of the Company, $0.001 par value per share (the “Common
Stock”), consisting of not less than 51% of what will be ,at the time
of Closing, the issued and outstanding shares of the Common Stock (the “Acquired
Shares”);
WHEREAS,
the parties have entered into that certain Letter of Intent (the “LOI”)
effective as of March 30, 2010 pursuant to which the parties agreed, inter
alia, to negotiate for the acquisition of such Common Stock in exchange
for the Purchase Price (as hereinafter defined);
WHEREAS,
the Parties desire to consummate the acquisition upon the terms and
conditions set forth herein;
NOW,
THEREFORE, in consideration of the promises and the mutual covenants and
agreements hereinafter contained in this Agreement and for other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Parties hereto hereby AGREE
as
follows:
1. SALE
AND PURCHASE OF THE SHARES. The Company hereby sells and Purchaser hereby
purchases from the Company, 29,000,000 shares of the Common Stock as outlined
below:
A. PURCHASE
PRICE FOR THE SHARES. The Purchase Price for the Shares
shall be:
(i) Fifty
Five Thousand One Hundred Dollars ($55,100) in cash to be paid to the Company as
follows:
(a)
$25,100.00 upon the full execution of this Agreement; and
(b) the
remaining $30,000.00 at Closing (as hereinafter defined); and
(c) All
legal fees related to the LOI and the preparation, negotiation and Closing of
this Agreement (the “Legal Fees”).
2. REPRESENTATIONS AND
WARRANTIES
2.1 REPRESENTATIONS OF THE
COMPANY.
The
Company represents and warrants that:
(i) The
Company has all requisite power, authority and legal capacity to execute and
deliver this Agreement and other agreements, documents or instruments
or certificates contemplated by this Agreement or to be executed by the Company
in connection with the consummation of the transaction(s), including the
issuance of the Common Shares, contemplated by this Agreement.
(ii) This
Agreement has been duly and validly executed and delivered by the
Company and constitute legal, valid and binding obligations of the Company,
enforceable in accordance with their respective terms and subject to applicable
laws.
2.2 REPRESENTATIONS
OF THE PURCHASER.
Purchaser represents and warrants that:
(i)
Purchaser has all requisite power, authority and legal capacity to execute and
deliver this Agreement and each other agreement, document or instrument or
certificate contemplated by this agreement or to be executed by Purchaser in
connection with the consummation of the transactions contemplated by this
Agreement.
(ii) The Purchaser
is a sophisticated and accredited investor and has gotten all the information it
needs in order to consummate the purchase of the Shares.
(iii)
This Agreement and each of the ancillary documents, including the LOI Agreement,
has been duly and validly executed and delivered by Purchaser and constitutes
legal, valid and binding obligation of the Purchaser, enforceable in accordance
with their respective terms and subject to applicable laws.
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OTHER
NEGOTIATIONS. The Company agrees that, prior to the Closing Date,
it will not, directly or indirectly, through any representative or
otherwise, solicit offers from, or in any manner encourage any proposal
from any other person relating tothe sale of all or substantially all of
the assets, business, or equity ownership of the Company to be purchased
by Purchaser.
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EXECUTION
AND CLOSING. A closing (the “Closing”) shall take place upon the
successful completion of the
financials.
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CONFIDENTIALITY.
The Parties hereto shall agree on the language for any public
disclosure of: (i) the existence of this Agreement, or (ii) its economic
or other implications to any Party or their interests. Any confidential
information or trade secret a Party obtains pursuant to the transaction
contemplated herein shall not be disclosed to any third party without the
prior written consent of the other Parties
hereto.
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ASSIGNMENT.
No Party may assign its rights or delegate its obligations herein without
the express written consent of the other
Parties.
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NO
WAIVER; SEVERABILITY. No waiver of any provision of this Agreement
shall be deemed a waiver of any other provision, or constitute a
continuing waiver. The terms and conditions set forth in this Agreement
are each deemed separate and independent, and if any such covenant or
agreement is determined by any court of competent jurisdiction to be
invalid the remaining provisions shall continue in full force and
effect.
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HEADINGS.
The headings in this Agreement are for convenience of reference
only and will not alter or otherwise affect the meaning of this
Agreement.
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COUNTERPARTS.
The Agreement may be executed in any number of counterparts, each
of which when so executed and delivered shall be deemed an original, and
each such counterpart taken together shall constitute one and the same
instrument.
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NO
MODIFICATION. This Agreement may not be amended or modified except
by a written agreement signed by all
Parties.
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ATTORNEY’S
FEES. In the event of any court proceeding to enforce the terms
hereof or of any dispute hereunder, the prevailing party in such
proceeding and/or dispute shall be entitled to recover its expenses
associated therewith including, without limitation, reasonable attorney‘s
and paralegals’ fees and costs through and including all trial and
appellate levels and post-judgment
proceedings.
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ENTIRE
AGREEMENT. This Agreement constitutes the entire
agreement between the Parties hereto with respect
to the subject matter hereof and supersedes all prior agreements,
understandings and arrangements, both oral and written, between the
parties hereto with respect to such subject
matter.
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NOTICES.
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All
notices and other communications given or made pursuant to this Agreement shall
be in writing and shall be deemed effectively given:
(i) upon
personal delivery to the party to be notified,
(ii) when
sent by confirmed electronic mail or facsimile if sent during normal business
hours of the recipient, and if not so confirmed, then on the next business
day,
(iii)
five (5) days after having been sent by registered or certified mail, return
receipt requested, postage prepaid, or
(iv) one
(1) day after deposit with a nationally recognized overnight courier, specifying
next day delivery, with written verification of receipt. All communications
shall be sent:
If
to Purchaser: Fusion Capital Investments Corp.
000
Xxxxxxxx Xxxxxx
Xxxxx, XX
00000
Fax
No.: (000) 000-0000
If
to the Company: CX2 Technologies, Inc.
0000
Xxxxxxx Xxxx, Xxxxx 000X
Xxxx
Xxxxx, Xxxxxxx 00000
Fax
No.: (000) 000-0000
or to
such other address as may have been furnished to any of the Parties, as the case
may be.
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GOVERNING
LAW. The agreement evidenced by signature of this Agreement by all
Parties (the “Agreement”) is made in Florida under, and shall be construed
in accordance with, the internal laws of the State of Florida without
resort to Florida’s conflict of law provisions. Any and all proceedings
which shall arise between the Parties regarding this Agreement shall be
held in Miami-Dade County, Florida.
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SUCCESSORS
AND ASSIGNS; THIRD PARTY RIGHTS. This Agreement shall be binding
and inure to the benefit of the parties hereto and their respective heirs
and legal representatives. No party may assign his rights hereunder.
Except as otherwise provided in this Agreement, nothing shall be deemed to
create any right with respect to any person or entity not a party to this
Agreement.
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FURTHER
ASSURANCES. Each of the parties hereto agrees, at any time and from
time to time, upon the reasonable request of the other party, to perform,
execute, acknowledge and deliver all such further acts, deeds,
assignments, conveyances, instruments or powers of attorney as may be
necessary or appropriate to carry out the provisions of this
Agreement.
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AUTHORITY
TO BIND. Each of the parties has read and understands the contents
of this Agreement and is empowered and duly authorized on behalf of that
party to execute it.
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IN
WITNESS WHEREOF, the parties hereto have set their hands as of the
date
first
above written.
PURCHASER | ||||||
FUSION CAPITAL INVESTMENTS CORP. | ||||||
By: |
/s/
Xxxxxxxx Xxxx
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Name: |
Xxxxxxxx
Xxxx
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Title: |
President
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