Exhibit 10.10
THIS AGREEMENT is made as of December 24th 2007.
BETWEEN:
Methes Energies Canada Inc., a corporation formed under the laws
of the Province of Ontario, with its head office located at 19-
0000 Xxxxxxxx Xxxxx, , Xxxxxxxxxxx, Xxxxxxx Xxxxxx X0X 0X0.
(Hereinafter the "Corporation")
- And -
Scrap Metal Coordinators, an Ontario Corporation with its head
office located at 000 Xxxxxxxxxxx Xxxxxx Xxxxx Xxxxxxxx, Xxxxxxx
Xxxxxx.
(Hereinafter the "Vendor")
NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of premises and
the mutual covenants herein contained, the Parties hereto agree as follows:
1. The Vendor and the Corporation wish to enter into an Agreement (the
"Agreement"), the terms of which are defined herein.
2. The Vendor is the full owner of a property located at 000 Xxxx Xxxx Xxxx,
Xxxxxx Xxxxxxx after defined the "property"
3. The vendor has agreed to sell the property to the Corporation along with
certain assets to be defined at a price to be agreed upon.
4. The Vendor is in the process of dismantling various infrastructures on the
property save and except the one identified by the corporation.
5. The vendor will permit access to the corporation, its representative(s) or
agent(s) to proceed to a due diligence and an environment study on the
property.
6. On or before January 21st the Corporation should have submitted an offer of
purchase to the Vendor.
7. In the meantime the Vendor shall not negotiate with other party as it
commits to sell said property to the Corporation.
8. The Vendor shall grant to the Corporation a right of first refusal to
purchase said property for a period of 90 days from the present and will
permit and accept that the Corporation to match any offer of purchase of
said property by a third party.
9, In the event that the Vendor received an offer of purchase on said property
from a third party, it commits and agree to provide a copy of said offer to
the corporation within 24 hours and grants said corporation 48 hours from
the reception by the corporation of said notification to match said offer
by submitting a formal offer of purchase to the Vendor with same minimal
terms.
10. By the present the Corporation give a refundable deposit in the amount of
$5000 that will be applied to the purchase of said property. In case of non
purchase the Vendor will refund said deposit upon request by the
Corporation
11. The Vendor commits to give all relevant information on the property for the
corporation to execute its due diligence.
INTENTIONALLY LEFT BLANK
IN WITNESS WHEREOF this Agreement is executed by the Parties hereto with effect
as of the date first above written.
Methes Energies Canada Inc.
[SIGNATURE ILLEGIBLE] By: /s/ Xxxxxx Xxxxxx
------------------------- --------------------------
Witness Name: Xxxxxx Xxxxxx
Title: President
I have authority to bind the
Corporation
Poscor Mill Services Corp.
[SIGNATURE ILLEGIBLE] By: Xxxx VanDeMierden
------------------------- --------------------------
Witness Name: Xxxx VanDeMierden
Title: President
I have authority to bind the
Corporation
