Exhibit 10.1
Alto Group Holdings, Inc. Letter of Intent
000 Xxxx Xxxxxx00xx Xxxxx
Xxx Xxxx, XX 00000-0000
Phone: 000-000-0000
Fax: 000-000-0000
September 29th, 2009
This Letter of Intent is between Mateo Mining, Inc., a Delaware Corporation
with offices located at 00 Xxxxxxxx Xxxxxx Xxx Xxxx 00000 hereinafter referred
to as "Mateo", and ALTO Group Holdings, Inc., a Nevada Corporation with offices
located at 000 Xxxx Xxxxxx 11 Floor New York, N.Y. 10005 hereinafter referred to
as "ALTO". Mateo and ALTO may also be referred to as the "Parties" or
individually as a "Party."
WHEREAS; ALTO has an interest in entering into an agreement with Mateo pursuant
to which ALTO shall acquire all the rights and assets of Mateo existing now and
acquired in the interim time period between the date hereof and the date of
execution of a Final definitive Agreement between the parties. The Final
Definitive Agreement will be mutually defined and drafted by the parties within
20 days from the signing of this binding letter of intent ("LOI"); and
WHEREAS; Mateo will not enter into any other agreements with regard to the sale
of any of its rights and/or assets during the term of this agreement; and
WHEREAS; ALTO and Mateo will enter into a stand still period for 20 days to
complete due diligence and draft a final agreement; and
WHEREAS; ALTO wishes to have Mateo conduct bulk sampling as part of its due
diligence before the Final Definitive Agreement is drafted between both parties;
and
WHEREAS; ALTO agrees to make an immediate payment of a total of $115,000 to
Mateo at an account designated by management to complete the bulk sample
testing, pay outstanding bills and have Mateo stand still during this due
diligence period, with such amount to count against any total amounts due under
the Final Definitive Agreement.
THEREFORE NOW, both Mateo and ALTO have agreed on the terms listed herein and
understand this letter of intent is valid and binding for 20 days from the date
hereof.
For MATEO MINING INC. For ALTO Group Holdings, Inc.
By: /s/ Xxxx Xxxx By: /s/ Xxxxxxx Xxxxxxxxx
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Xxxx Xxxx, President Xxxxxxx Xxxxxxxxx, Chairman
