OFFSHORE STOCK PURCHASE AGREEMENT
Exhibit
10.1
These
securities are subject to restrictions on transferability and resale and may
not
be transferred or resold except as permitted under the Act, an applicable state
securities laws, pursuant to registration or exemption therefrom. Investors
should be aware that they will be required to bear the financial risks of this
investment for an indefinite period of time. All offers and sales of the
herein-described securities by non-U.S. persons before the expiration of a
period commencing on the date of the closing of this offering and ending one
year thereafter shall only be made in compliance with Regulation S, pursuant
to
registration under the Act, or pursuant to an exemption from registration,
and
all offers and sales after the expiration of the one-year period shall be made
only pursuant to registration or an exemption from registration. Hedging
transactions involving these securities may not be conducted unless in
compliance with the Act.
This
Offshore Stock Purchase Agreement (the "Agreement") is entered into this 30
day
of January, 2007 (the "Effective Date"), by and between XXXXX, XXXX PING, a
citizen and resident of Vancouver, British Columbia, Canada ("SELLER") and
DING,
XX XX, a citizen and resident of the People's Republic of China ("PURCHASER"),
with respect to shares of common stock of GREATER CHINA MEDIA AND ENTERTAINMENT
CORP., a Nevada corporation ("ISSUER").
WHEREAS,
PURCHASER desires to purchase One Million (1,000,000) shares of restricted
common stock of ISSUER (the "Shares"); and
WHEREAS,
SELLER agrees to deliver the Shares for the Consideration (as defined below)
to
be paid by PURCHASER, subject to the terms and conditions set forth
below.
NOW,
THEREFORE, for and in consideration of the mutual promises herein, and for
other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:
1.Β Β Β Β Β Purchase
and Sale.
On the
basis of the representations and warranties herein contained, subject to the
terms and conditions set forth herein, PURCHASER hereby agrees to purchase
the
Shares at a purchase price of US$.001 per share, for a total aggregate purchase
price of $1,000 (the "Consideration"), and SELLER hereby agrees to sell the
Shares to PURCHASER for such Consideration.
2.
|
Closing.
The closing of the purchase and sale contemplated by this Agreement
(the
"Closing") shall occur upon the transfer of the Consideration to
the
SELLER by PURCHASER by check or wire transfer of funds. SELLER shall
cause
ISSUER to deliver the Shares to PURCHASER within 14 days of receiving
full
payment under this Agreement.
|
Β |
A.
|
Transactions
and Document Exchange at Closing. Prior to or at the Closing, the
following transactions shall occur and documents shall be exchanged,
all
of which shall be deemed to occur simultaneously:
|
Β | Β | Β |
Β Β Β Β Β
(1)
by
PURCHASER:
PURCHASER shall deliver, or cause to be delivered, to SELLER: (a) the balance
of
the Consideration (if any); and (b) such other documents, instruments, and/or
certificates, if any, as are required to be delivered pursuant to the provisions
of this Agreement, or which are reasonably determined by the parties to be
required to effectuate the transactions contemplated in this Agreement, or
as
otherwise may be reasonably requested by SELLER in furtherance of the intent
of
this Agreement;
Β | Β |
(2)
by
SELLER:
SELLER shall deliver, or cause the ISSUER to make the following to
be
delivered, to PURCHASER: (a) the Shares; and (b) such other documents,
instruments, and/or certificates, if any, as are required to be delivered
pursuant to the provisions of this Agreement, or which are reasonably
determined by the parties to be required to effectuate the transactions
contemplated in this Agreement, or as otherwise may be reasonably
requested by PURCHASER in furtherance of the intent of this
Agreement.
|
B.Β Β Β Β Β Post-Closing
Documents. From time to time after the Closing, upon the reasonable request
of
any party, the party to whom the request is made shall deliver such other and
further documents, instruments, and/or certificates as may be necessary to
more
fully vest in the requesting party the Consideration or the Shares as provided
for in this Agreement, or to enable the requesting party to obtain the rights
and benefits contemplated by this Agreement.
3.
|
Private
Offering.
PURCHASER and SELLER both understand and agree that the purchase
and sale
of securities contemplated herein constitutes a private, arms-length
transaction between a willing seller and willing buyer without the
use or
reliance upon a broker, distributor or securities
underwriter.
|
Β |
A.
|
Purchase
for Investment. Neither PURCHASER nor SELLER are underwriters of,
or
dealers in, the securities to be sold and exchanged
hereunder.
|
Β |
B.
|
Investment
Risk. Because of ISSUER's financial position and other factors as
disclosed in ISSUER's publicly filed reports with the SEC, the transaction
contemplated by this Agreement may involve a high degree of financial
risk, including the risk that one or both parties may lose its entire
investment, and both parties hereby agree that they have each undertaken
an independent evaluation of the risks associated with the Shares,
and
both parties understand those risks and are willing to accept the
risk
that they may be to bear the financial risks of this investment for
an
indefinite period of time.
|
Β |
C.
|
Access
to Information. PURCHASER and ISSUER and their advisors have been
afforded
the opportunity to discuss the transaction with legal and accounting
professionals and to examine and evaluate the financial impact of
the sale
and exchange contemplated herein. PURCHASER has received and reviewed
ISSUER's most recent Form 10-KSB as amended, and quarterly reports
on Form
10-QSB for the most recent two quarters, all as filed with the SEC.
PURCHASER acknowledges that it has been furnished with the information
required to conform with the provisions of subparagraph (a)(5) of
Rule
15c2-11 of the Securities and Exchange Commission.
|
4.
|
Representations
and Warranties of PURCHASER:
PURCHASER hereby covenants and represents and warrants to SELLER
that:
|
Β |
A.
|
Organization.
PURCHASER is a citizen and resident of the People's Republic of China.
The
execution and delivery of this Agreement and the consummation of
the
transaction contemplated in this Agreement have been, or will be
prior to
Closing, duly undertaken on the part of the PURCHASER. This Agreement
has
been duly executed and delivered by PURCHASER and constitutes a binding
and enforceable obligation of
PURCHASER.
|
Β |
B.
|
Third
Party Consent. No authorization, consent, or approval of, or registration
or filing with, any governmental authority or any other person is
required
to be obtained or made by PURCHASER in connection with the execution,
delivery, or performance of this Agreement or the transfer of the
Shares,
or if any such is required, PURCHASER will have or will obtain the
same
prior to Closing.
|
Β |
C.
|
Litigation.
PURCHASER is not a defendant against whom a claim has been made or
a
judgment rendered in any litigation or proceedings before any local,
state, or federal government, including but not limited to the United
States, or any department, board, body, or agency
thereof.
|
Β |
D.
|
Authority.
This Agreement has been duly executed by PURCHASER, and the execution
and
performance of this Agreement will not violate, or result in a breach
of,
or constitute a default in, any agreement, instrument, judgment,
order, or
decree to which PURCHASER is a party or to which the Consideration
is
subject.
|
Β |
E.
|
Offshore
Transaction. PURCHASER represents and warrants to SELLER as follows:
(i)
PURCHASER is not a βU.S. personβ as that term is defined in Rule 902 of
Regulation S; (ii) PURCHASER is not, and on the Closing date will
not be,
an affiliate of ISSUER; (iii) at the execution of this Agreement,
as well
as the time this transaction is or was due, PURCHASER was outside
the
United States, and no offer to purchase the Shares was made in the
United
States; (iv) PURCHASER agrees that offers and sales of the Shares
shall
not be made to U.S. persons unless the Shares are registered or a
valid
exemption from registration can be relied on under applicable U.S.
state
and federal securities laws; (v) PURCHASER is not a distributor or
dealer;
(vi) the transactions contemplated hereby have not been and will
not be
made on behalf of any U.S. person or pre-arranged by PURCHASER with
a
purchaser located in the United States or a purchaser which is a
U.S.
person, and such transactions are not and will not be part of a plan
or
scheme to evade the registration provisions of the Act; (vii)all
offering
documents received by PURCHASER include statements to the effect
that the
Shares have not been registered under the Securities Act of 1933
and may
not be offered or sold in the United States or to U.S. Persons (other
than
distributors as defined in Regulation S) during the Restricted Period
unless the Shares are registered under the Securities Act of 1933
or an
exemption from registration is
available.
|
The
foregoing representations and warranties are true and accurate as of the date
hereof, shall be true and accurate as of the date of the acceptance by SELLER
of
PURCHASERβs purchase, and shall survive thereafter. If PURCHASER has knowledge,
prior to the acceptance of this Offshore Stock Purchase Agreement by SELLER,
that any such representations and warranties shall not be true and accurate
in
any respect, PURCHASER prior to such acceptance, will give written notice of
such fact to SELLER specifying which representations and warranties are not
true
and accurate and the reasons therefor.
PURCHASER
agrees to fully indemnify, defend and hold harmless
SELLER, his agents and attorneys from and against any and all losses, claims,
damages, liabilities and expenses, including reasonable attorney's fees and
expenses, which may result from a breach of PURCHASER's representations,
warranties and agreements contained herein.
Β
Β |
F.
|
Accredited
Investor. PURCHASER is an accredited investor as that term is defined
in
Rule 501(a) of Regulation D promulgated under the Act. PURCHASER
further
represents and warrants that the information as disclosed in βExhibit Aβ
attached hereto is true and
correct.
|
Β |
G.
|
Beneficial
Owner. PURCHASER is purchasing stock for its own account or for the
account of beneficiaries for whom PURCHASER has full investment discretion
with respect to stock and whom PURCHASER has full authority to bind,
so
that each such beneficiary is bound hereby as if such beneficiary
were a
direct signatory hereunder, and all representations, warranties and
agreements herein were made directly by such
beneficiary.
|
Β |
H.
|
Directed
Selling Efforts. PURCHASER will not engage in any activity for the
purpose
of, or that could reasonably be expected to have the effect of,
conditioning the market in the United States for any of the Shares
sold
hereunder. To the best of its knowledge, neither PURCHASER nor any
person
acting for PURCHASER has conducted any βdirected selling effortsβ as that
term is defined in Rule 902 of Regulation S.
|
Β |
I.
|
Independent
Investigation; Access. PURCHASER, in electing to purchase the Shares
herein, has relied solely upon independent investigation made by
it and
its representatives. PURCHASER has been given no oral or written
representation or warranty from ISSUER other than as set forth in
this
Agreement. PURCHASER and its representatives, if any, have, prior
to any
sale to it, been given access and the opportunity to examine all
material
books and records of ISSUER, all material contracts and documents
relating
to ISSUER and this offering and an opportunity to ask questions of,
and to
receive answers from, ISSUER or any officer of ISSUER acting on its
behalf
concerning ISSUER and the terms and conditions of this offering.
PURCHASER
and its advisors, if any, have been furnished with access to all
publicly
available materials relating to the business, finances and operations
of
ISSUER and materials relating to the offer and sale of the Shares
which
have been requested. PURCHASER and its advisors, if any, have received
complete and satisfactory answers to any such
inquiries.
|
Β |
J.
|
No
Government Recommendation or Approval. PURCHASER understands that
no
United States federal or state agency, or similar agency of any other
country, has passed upon or made any recommendation or endorsement
of the
Shares, or this transaction.
|
Β
Β |
K.
|
No
Formation or Membership in βGroup.β PURCHASER is not part of a βgroupβ as
that term is defined under the Act. PURCHASER is not, and does not
intend
to become, included with two or more persons acting as a partnership,
syndicate, or other group for the purpose of acquiring, holding or
disposing of securities of the
Company.
|
Β |
L.
|
Hedging
Transactions. PURCHASER hereby agrees not to engage in any hedging
transactions involving the securities described herein unless in
compliance with the Act and Regulation S promulgated
thereunder.
|
5.
|
Conditions
Precedent to SELLER'S Closing.
All obligations of SELLER under his Agreement, and as an inducement
to
SELLER to enter into this Agreement, are subject to PURCHASERβs covenants
and agreements to each of the
following:
|
Β |
A.
|
Acceptance
of Documents. All instruments and documents delivered to SELLER pursuant
to this Agreement or reasonably requested by SELLER to verify the
representations and warranties of PURCHASER herein, shall be satisfactory
to SELLER and its legal counsel.
|
Β |
B.
|
Representations
and Warranties. The representations and warranties by PURCHASER set
forth
in this Agreement shall be true and correct at and as of the Closing
date,
with the same force and effect as though made at and as of the date
hereof, except for changes permitted or contemplated by this
Agreement.
|
Β |
C.
|
No
Breach or Default. PURCHASER shall have performed and complied with
all
covenants, agreements, and conditions required by this Agreement
to be
performed or complied with by it prior to or at the
Closing.
|
6.Β Β Β Β Β Termination.
This
Agreement may be terminated at any time prior to the date of Closing by either
party if (a) there shall be any actual or threatened action or proceeding by
or
before any court or any other governmental body which shall seek to restrain,
prohibit, or invalidate the transaction contemplated by this Agreement, and
which in the judgment of such party giving notice to terminate and based upon
the advice of legal counsel makes it inadvisable to proceed with the transaction
contemplated by this Agreement, or (b) if this Agreement has not been approved
and properly executed by the parties by March 31, 2007.
7.
|
Restrictive
Legend.
PURCHASER agrees that the Shares shall bear a restrictive legend
to the
effect that transfer is prohibited except in accordance with the
provisions of Regulation S, pursuant to registration under the Act,
or
pursuant to an available exemption from registration, and that hedging
transactions involving those securities may not be conducted unless
in
compliance with the Act.
|
8.
|
ISSUER's
Obligation to Refuse Transfer.
Pursuant to Regulation S promulgated under the Act, SELLER hereby
agrees
to cause ISSUER to refuse to register any transfer of the Shares
not made
in accordance with the provisions of Regulation S, pursuant to
registration under the Act, or pursuant to an available exemption
from
registration.
|
9.
|
Miscellaneous.
|
Β |
A.
|
Valid
Execution. This Agreement has been validly
executed.
|
Β |
B.
|
Notices.
Any notice under this Agreement shall be deemed to have been sufficiently
given if sent by registered or certified mail, postage prepaid, or
by
express mail service substantially equivalent to Federal Express,
addressed as follows:
|
Β Β Β Β Β Β Β Β Β Β Β Β
Β Β Β Β Β Β Β Β Β Β Β Β To
PURCHASER:Β Β Β Β Β Β Β Β Β Β Ding,
Xx
Xx
Β Β Β Β Β Β Β
5
Can Yuan Road, Qi Xing
District
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β
Gui
Ling
City
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Guang
Xi, China
Β
Β Β Β To
SELLER:Β Β Β Β Β Β Β Β Β Β Β Β Β Xxxxx,
Xxxx Ping
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β 0000
Xxxxxx Xxxxx,
Xxxx Xxxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xxxxxxx
Xxxxxxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xxxxxx
X0X 0X0:
Β
Β |
C.
|
Entire
Agreement. This Agreement constitutes the entire agreement among
the
parties hereto with respect to the subject matter hereof and supersedes
any and all prior or contemporaneous representations, warranties,
agreements and understandings in connection therewith. This Agreement
may
be amended only by a writing executed by all parties
hereto.
|
Β |
D.
|
Severability.
If a court of competent jurisdiction determines that any clause or
provision of this Agreement is invalid, illegal or unenforceable,
the
other clauses and provisions of the Agreement shall remain in full
force
and effect and the clauses and provisions which are determined to
be void,
illegal or unenforceable shall be limited so that they shall remain
in
effect to the extent permissible by
law.
|
Β |
E.
|
Assignment.
None of the parties hereto may assign this Agreement without the
express
written consent of the other parties and any approved assignment
shall be
binding on and inure to the benefit of such successor or, in the
event of
death or incapacity, on assignor's heirs, executors, administrators,
representatives, and
successors.
|
Β |
F.
|
Applicable
Law. This Agreement has been negotiated and is being contracted for
in
Canda, Province of British Columbia.. It shall be governed by and
interpreted in accordance with the laws of Canada and the Province
of
British Columbia, regardless of any conflict-of-law provision to
the
contrary.
|
Β |
G.
|
Attorney's
Fees. If any legal action or other proceeding (including but not
limited
to binding arbitration) is brought for the enforcement of or to declare
any right or obligation under this Agreement or as a result of a
breach,
default or misrepresentation in connection with any of the provisions
of
this Agreement, or otherwise because of a dispute among the parties
hereto, the prevailing party will be entitled to recover actual attorney's
fees (including for appeals and collection and including the actual
cost
of in-house counsel, if any) and other expenses incurred in such
action or
proceeding, in addition to any other relief to which such party may
be
entitled.
|
Β |
H.
|
Counterparts
and Facsimile. This Agreement may be executed in any number of identical
counterparts (except as to signature only), each of which may be
deemed an
original for all purposes. A fax, telecopy or other reproduction
of this
instrument may be executed by one or more parties hereto and such
executed
copy may be delivered by facsimile or similar instantaneous electronic
transmission device pursuant to which the signature of or on behalf
of
such party can be discerned as legible, and such execution and delivery
shall be considered valid, binding and effective for all
purposes.
|
IN
WITNESS WHEREOF, the parties have execute this agreement below.
Β
Β Β Β Β Β Β
Β Β (In His Individual Capacity) | Β | Β | Β Β (In His Individual Capacity) |
/s/Β Ding, Xx Xx | Β | Β | /s/Β Xxxxx, Xxxx Ping |
|
Β | Β |
|
Name:
DING, XX
XX Title More Title |
Β | Β | Name:
XXXXX,
XXXX PING Title More Title |
Β
Β
EXHIBIT
"A"
PURCHASER
REPRESENTATIONS LETTER
Xxxxx,
Xxxx Ping
0000
Xxxxxx Xxxxx, Xxxx Xxxxx, Xxxxxxx Xxxxxxxx
Xxxxxx
X0X 0X0
Dear
Sir:
The
undersigned, Ding, Xx Xx, intends to purchase One Million (1,000,000) shares
(the βSharesβ) of common stock of Greater China Media and Entertainment Corp.
(the βCompanyβ) from you in a transaction that is exempt from registration under
the United States Securities Act of 1933, as amended (the βSecurities Actβ).
The
undersigned represents and warrants as follows:
(1)Β The
offer
to purchase the Shares was made to him outside of the United States, while
the
undersigned was, and is now, outside the United States;
(2)Β The
undersigned is not a U.S. Person (as such term is defined in Section 902(a)
of
Regulation S ("Regulation S") promulgated under the Securities Act; and he
is
purchasing the Shares for his own account and not for the account or benefit
of
any U.S. person;
(3)Β All
offers and sales by the undersigned of the Shares shall be made pursuant to
an
effective registration statement under the Securities Act or pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act;
(4)Β The
undersigned is familiar with and understands the terms and conditions and
requirements contained in Regulation S;
(5)Β The
undersigned has not engaged in any "directed selling efforts" (as such term
is
defined in Regulation S) with respect to the Shares; and
(6)Β The
undersigned is purchasing the Shares with investment intent and at present
does
not have the intent to sell, dispose of, or otherwise transfer, the
Shares.
Β
Β
Β | Β | Β |
Β | Β | |
Β Β |
Β Β |
Β Β |
Date:Β January 30, 2007 | By:Β Β | /s/Β Ding, Xx Xx |
Β |
Ding,
Xx Xx
|
|
Β | TitleΒ |
Β
Β
Exhibit
10.2
These
securities have not been registered with the United States Securities and
Exchange Commission or the securities commission of any state because they
are
believed to be exempt from registration under Regulation D and/or Regulation
S
promulgated under the Securities Act of 1933, as amended (the βActβ). The
foregoing authorities have not confirmed the accuracy or determined the adequacy
of this document. Any representation to the contrary is a criminal offense.
This
subscription agreement shall not constitute an offer to sell nor a solicitation
of an offer to buy the securities in any jurisdiction in which such offer or
solicitation would be unlawful.
These
securities are subject to restrictions on transferability and resale and may
not
be transferred or resold except as permitted under the Act, an applicable state
securities laws, pursuant to registration or exemption therefrom. Investors
should be aware that they will be required to bear the financial risks of this
investment for an indefinite period of time. All offers and sales of the
herein-described securities by non-U.S. persons before the expiration of a
period commencing on the date of the closing of this offering and ending one
year thereafter shall only be made in compliance with Regulation S, pursuant
to
registration under the Act, or pursuant to an exemption from registration,
and
all offers and sales after the expiration of the one-year period shall be made
only pursuant to registration or an exemption from registration. Hedging
transactions involving these securities may not be conducted unless in
compliance with the Act.
This
Offshore Stock Purchase Agreement (the βAgreementβ) is entered into this 30 day
of January, 2007 (the βEffective Dateβ), by and between XXXXX, XXXX PING, a
citizen and resident of Vancouver, British Columbia, Canada (βSELLERβ) and FENG,
ZI JIA, a citizen and resident of the Peopleβs Republic of China (βPURCHASERβ),
with respect to shares of common stock of GREATER CHINA MEDIA AND ENTERTAINMENT
CORP., a Nevada corporation (βISSUERβ).
WHEREAS,
PURCHASER desires to purchase One Million (1,000,000) shares of restricted
common stock of ISSUER (the βSharesβ); and
WHEREAS,
SELLER agrees to deliver the Shares for the Consideration (as defined below)
to
be paid by PURCHASER, subject to the terms and conditions set forth
below.
NOW,
THEREFORE, for and in consideration of the mutual promises herein, and for
other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:
1.
|
Purchase
and Sale.
On
the basis of the representations and warranties
herein contained, subject to the terms and conditions set forth herein,
PURCHASER hereby agrees to purchase the Shares at a purchase price
of
US$.001 per share, for a total aggregate purchase price of $1,000
(the
βConsiderationβ), and SELLER hereby agrees to sell the Shares to PURCHASER
for such Consideration.
|
Β
2.
|
Closing.
The closing of the purchase and sale contemplated by this Agreement
(the
βClosingβ) shall occur upon the transfer of the Consideration to the
SELLER by PURCHASER by check or wire transfer of funds. SELLER shall
cause
ISSUER to deliver the Shares to PURCHASER within 14 days of receiving
full
payment under this Agreement.
|
Β |
A.
|
Transactions
and Document Exchange at Closing. Prior to or at the Closing, the
following transactions shall occur and documents shall be exchanged,
all
of which shall be deemed to occur simultaneously:
|
Β | Β | Β |
Β Β Β Β Β
(1)
by
PURCHASER:
PURCHASER shall deliver, or cause to be delivered, to SELLER: (a) the balance
of
the Consideration (if any); and (b) such other documents, instruments, and/or
certificates, if any, as are required to be delivered pursuant to the provisions
of this Agreement, or which are reasonably determined by the parties to be
required to effectuate the transactions contemplated in this Agreement, or
as
otherwise may be reasonably requested by SELLER in furtherance of the intent
of
this Agreement;
Β | Β |
(2)
by
SELLER:
SELLER shall deliver, or cause the ISSUER to make the following to
be
delivered, to PURCHASER: (a) the Shares; and (b) such other documents,
instruments, and/or certificates, if any, as are required to be delivered
pursuant to the provisions of this Agreement, or which are reasonably
determined by the parties to be required to effectuate the transactions
contemplated in this Agreement, or as otherwise may be reasonably
requested by PURCHASER in furtherance of the intent of this
Agreement.
|
Β |
B.
|
Post-Closing
Documents. From time to time after the Closing, upon the reasonable
request of any party, the party to whom the request is made shall
deliver
such other and further documents, instruments, and/or certificates
as may
be necessary to more fully vest in the requesting party the Consideration
or the Shares as provided for in this Agreement, or to enable the
requesting party to obtain the rights and benefits contemplated by
this
Agreement.
|
3.
|
Private
Offering.
PURCHASER and SELLER both understand and agree that the purchase
and sale
of securities contemplated herein constitutes a private, arms-length
transaction between a willing seller and willing buyer without the
use or
reliance upon a broker, distributor or securities
underwriter.
|
Β |
A.
|
Purchase
for Investment. Neither PURCHASER nor SELLER are underwriters
of, or dealers in, the securities to be sold and exchanged
hereunder.
|
Β |
B.
|
Investment
Risk. Because of ISSUER's financial position and other factors as
disclosed in ISSUER's publicly filed reports with the SEC, the transaction
contemplated by this Agreement may involve a high degree of financial
risk, including the risk that one or both parties may lose its entire
investment, and both parties hereby agree that they have each undertaken
an independent evaluation of the risks associated with the Shares,
and
both parties understand those risks and are willing to accept the
risk
that they may be to bear the financial risks of this investment for
an
indefinite period of time.
|
Β |
C.
|
Access
to Information. PURCHASER and ISSUER and their advisors have been
afforded
the opportunity to discuss the transaction with legal and accounting
professionals and to examine and evaluate the financial impact of
the sale
and exchange contemplated herein. PURCHASER has received and reviewed
ISSUER's most recent Form 10-KSB as amended, and quarterly reports
on Form
10-QSB for the most recent two quarters, all as filed with the SEC.
PURCHASER acknowledges that it has been furnished with the information
required to conform with the provisions of subparagraph (a)(5) of
Rule
15c2-11 of the Securities and Exchange Commission.
|
4.Β Β Β Β Β Representations
and Warranties of PURCHASER:
PURCHASER hereby covenants and represents and warrants to SELLER
that:
Β |
A.
|
Organization.
PURCHASER is a citizen and resident of the People's Republic of China.
The
execution and delivery of this Agreement and the consummation of
the
transaction contemplated in this Agreement have been, or will be
prior to
Closing, duly undertaken on the part of the PURCHASER. This Agreement
has
been duly executed and delivered by PURCHASER and constitutes a binding
and enforceable obligation of
PURCHASER.
|
Β |
B.
|
Third
Party Consent. No authorization, consent, or approval of, or registration
or filing with, any governmental authority or any other person is
required
to be obtained or made by PURCHASER in connection with the execution,
delivery, or performance of this Agreement or the transfer of the
Shares,
or if any such is required, PURCHASER will have or will obtain the
same
prior to Closing.
|
Β |
C.
|
Litigation.
PURCHASER is not a defendant against whom a claim has been made or
a
judgment rendered in any litigation or proceedings before any local,
state, or federal government, including but not limited to the United
States, or any department, board, body, or agency
thereof.
|
Β |
D.
|
Authority.
This Agreement has been duly executed by PURCHASER, and the execution
and
performance of this Agreement
will not violate, or result in a breach of, or constitute a default
in,
any agreement, instrument, judgment, order, or decree to which PURCHASER
is a party or to which the Consideration is
subject.
|
Β |
E.
|
Offshore
Transaction. PURCHASER represents and warrants to SELLER as follows:
(i)
PURCHASER is not a βU.S. personβ as that term is defined in Rule 902 of
Regulation S; (ii) PURCHASER is not, and on the Closing date will
not be,
an affiliate of ISSUER; (iii) at the execution of this Agreement,
as well
as the time this transaction is or was due, PURCHASER was outside
the
United States, and no offer to purchase the Shares was made in the
United
States; (iv) PURCHASER agrees that offers and sales of the Shares
shall
not be made to U.S. persons unless the Shares are registered or a
valid
exemption from registration can be relied on under applicable U.S.
state
and federal securities laws; (v) PURCHASER is not a distributor or
dealer;
(vi) the transactions contemplated hereby have not been and will
not be
made on behalf of any U.S. person or pre-arranged by PURCHASER with
a
purchaser located in the United States or a purchaser which is a
U.S.
person, and such transactions are not and will not be part of a plan
or
scheme to evade the registration provisions of the Act; (vii)all
offering
documents received by PURCHASER include statements to the effect
that the
Shares have not been registered under the Securities Act of 1933
and may
not be offered or sold in the United States or to U.S. Persons (other
than
distributors as defined in Regulation S) during the Restricted Period
unless the Shares are registered under the Securities Act of 1933
or an
exemption from registration is
available.
|
The
foregoing representations and warranties are true and accurate as of the date
hereof, shall be true and accurate as of the date of the acceptance by SELLER
of
PURCHASER's purchase, and shall survive thereafter. If PURCHASER has knowledge,
prior to the acceptance of this Offshore Stock Purchase Agreement by SELLER,
that any such representations and warranties shall not be true and accurate
in
any respect, PURCHASER prior to such acceptance, will give written notice of
such fact to SELLER specifying which representations and warranties are not
true
and accurate and the reasons therefor.
PURCHASER
agrees to fully indemnify, defend and hold harmless SELLER, his agents and
attorneys from and against any and all losses, claims, damages, liabilities
and
expenses, including reasonable attorney's fees and expenses, which may result
from a breach of PURCHASER's representations, warranties and agreements
contained herein.
Β |
F.
|
Accredited
Investor. PURCHASER is an accredited investor as that term is defined
in
Rule 501(a) of Regulation D promulgated under the Act. PURCHASER
further
represents and warrants that the information as disclosed in βExhibit
Aβattached
hereto is true and
correct.
|
Β |
G.
|
Beneficial
Owner. PURCHASER is purchasing stock for its own account or for the
account of beneficiaries for whom PURCHASER has full investment discretion
with respect to stock and whom PURCHASER has full authority to bind,
so
that each such beneficiary is bound hereby as if such beneficiary
were a
direct signatory hereunder, and all representations, warranties and
agreements herein were made directly by such
beneficiary.
|
Β |
H.
|
Directed
Selling Efforts. PURCHASER will not engage in any activity for the
purpose
of, or that could reasonably be expected to have the effect of,
conditioning the market in the United States for any of the Shares
sold
hereunder. To the best of its knowledge, neither PURCHASER nor any
person
acting for PURCHASER has conducted any βdirected selling effortsβ as that
term is defined in Rule 902 of Regulation S.
|
Β |
I.
|
Independent
Investigation; Access. PURCHASER, in electing to purchase the Shares
herein, has relied solely upon independent investigation made by
it and
its representatives. PURCHASER has been given no oral or written
representation or warranty from ISSUER other than as set forth in
this
Agreement. PURCHASER and its representatives, if any, have, prior
to any
sale to it, been given access and the opportunity to examine all
material
books and records of ISSUER, all material contracts and documents
relating
to ISSUER and this offering and an opportunity to ask questions of,
and to
receive answers from, ISSUER or any officer of ISSUER acting on its
behalf
concerning ISSUER and the terms and conditions of this offering.
PURCHASER
and its advisors, if any, have been furnished with access to all
publicly
available materials relating to the business, finances and operations
of
ISSUER and materials relating to the offer and sale of the Shares
which
have been requested. PURCHASER and its advisors, if any, have received
complete and satisfactory answers to any such
inquiries.
|
Β |
J.
|
No
Government Recommendation or Approval. PURCHASER understands that
no
United States federal or state agency, or similar agency of any other
country, has passed upon or made any recommendation or endorsement
of the
Shares, or this transaction.
|
Β |
K.
|
No
Formation or Membership in βGroup.β PURCHASER is not part of a βgroupβ as
that term is defined under the Act. PURCHASER is not, and does not
intend
to become, included with two or more persons acting as a partnership,
syndicate, or other group for the purpose of acquiring, holding or
disposing of securities of the
Company.
|
Β |
L.
|
Hedging
Transactions. PURCHASER hereby agrees not to engage in any hedging
transactions involving the securities described herein unless in
compliance with the Act and Regulation S promulgated
thereunder.
|
5.
|
Conditions
Precedent to SELLER'S Closing.
All obligations of SELLER under his Agreement, and as an inducement
to
SELLER to enter into this Agreement, are subject to PURCHASERβs covenants
and agreements to each of the
following:
|
Β |
A.
|
Acceptance
of Documents. All instruments and documents delivered to SELLER pursuant
to this Agreement or reasonably requested by SELLER to verify the
representations and warranties of PURCHASER herein, shall be satisfactory
to SELLER and its legal counsel.
|
Β |
B.
|
Representations
and Warranties. The representations and warranties by PURCHASER set
forth
in this Agreement shall be true and correct at and as of the Closing
date,
with the same force and effect as though made at and as of the date
hereof, except for changes permitted or contemplated by this
Agreement.
|
Β |
C.
|
No
Breach or Default. PURCHASER shall have performed and complied with
all
covenants, agreements, and conditions required by this Agreement
to be
performed or complied with by it prior to or at the
Closing.
|
6.Β Β Β Β Β Termination.
This
Agreement may be terminated at any time prior to the date of Closing by either
party if (a) there shall be any actual or threatened action or proceeding by
or
before any court or any other governmental body which shall seek to restrain,
prohibit, or invalidate the transaction contemplated by this Agreement, and
which in the judgment of such party giving notice to terminate and based upon
the advice of legal counsel makes it inadvisable to proceed with the transaction
contemplated by this Agreement, or (b) if this Agreement has not been approved
and properly executed by the parties by March 31, 2007.
7.
|
Restrictive
Legend.
PURCHASER agrees that the Shares shall bear a restrictive legend
to the
effect that transfer is prohibited except in accordance with the
provisions of Regulation S, pursuant to registration under the Act,
or
pursuant to an available exemption from registration, and that hedging
transactions involving those securities may not be conducted unless
in
compliance with the Act.
|
8.
|
ISSUER's
Obligation to Refuse Transfer.
Pursuant to Regulation S promulgated
under the Act, SELLER hereby agrees to cause ISSUER to refuse to
register
any transfer of the Shares not made in accordance with the provisions
of
Regulation S, pursuant to registration under the Act, or pursuant
to an
available exemption from
registration.
|
9.
|
Miscellaneous.
|
Β |
A.
|
Valid
Execution. This Agreement has been validly
executed.
|
Β |
B.
|
Notices.
Any notice under this Agreement shall be deemed to have been sufficiently
given if sent by registered or certified mail, postage prepaid, or
by
express mail service substantially equivalent to Federal Express,
addressed as follows:
|
To
PURCHASER:Β Β Β Β Β Β Feng,
Zi
Jia
Β 069
Bo Xxx Xxxxx
Xxxxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β
Xx
Xxx, Xxxxx Xx Xxxxxxxx, Xxxxx
Β
To
SELLER:Β Β Β Β Β Β Β Β
Xxxxx,
Xxxx Ping.
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β 0000
Xxxxxx Xxxxx,
Xxxx Xxxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xxxxxxx
Xxxxxxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xxxxxx
X0X 0X0:
Β
C.Β Β Β Β Β Entire
Agreement. This Agreement constitutes the entire agreement among the parties
hereto with respect to the subject matter hereof and supersedes any and all
prior or contemporaneous representations, warranties, agreements and
understandings in connection therewith. This Agreement may be amended only
by a
writing executed by all parties hereto.
D.Β Β Β Β Β Severability.
If a court of competent jurisdiction determines that any clause or provision
of
this Agreement is invalid, illegal or unenforceable, the other clauses and
provisions of the Agreement shall remain in full force and effect and the
clauses and provisions which are determined to be void, illegal or unenforceable
shall be limited so that they shall remain in effect to the extent permissible
by law.
Β |
E.
|
Assignment.
None of the parties hereto may assign this Agreement without the
express
written consent of the other parties and any approved assignment
shall be
binding on and inure to the benefit of such successor or, in the
event of
death or incapacity, on assignor's heirs, executors, administrators,
representatives, and successors.
|
Β |
F.
|
Applicable
Law. This Agreement has been negotiated and is being contracted for
in
Canda, Province of British Columbia.. It shall be governed by and
interpreted in accordance with the laws of Canada and the Province
of
British Columbia, regardless of any conflict-of-law provision to
the
contrary.
|
Β
Β |
G.
|
Attorney's
Fees. If any legal action or other proceeding (including but not
limited
to binding arbitration) is brought for the enforcement of or to declare
any right or obligation under this Agreement or as a result of a
breach,
default or misrepresentation in connection with any of the provisions
of
this Agreement, or otherwise because of a dispute among the parties
hereto, the prevailing party will be entitled to recover actual attorney's
fees (including for appeals and collection and including the actual
cost
of in-house counsel, if any) and other expenses incurred in such
action or
proceeding, in addition to any other relief to which such party may
be
entitled.
|
Β |
H.
|
Counterparts
and Facsimile. This Agreement may be executed in any number of identical
counterparts (except as to signature only), each of which may be
deemed an
original for all purposes. A fax, telecopy or other reproduction
of this
instrument may be executed by one or more parties hereto and such
executed
copy may be delivered by facsimile or similar instantaneous electronic
transmission device pursuant to which the signature of or on behalf
of
such party can be discerned as legible, and such execution and delivery
shall be considered valid, binding and effective for all
purposes.
|
IN
WITNESS WHEREOF, the parties have execute this agreement below.
Β
Β
Β (In His Individual Capacity) | Β | Β | Β (In His Individual Capacity) |
/s/Β Feng, Zi Jia | Β | Β | /s/Β Xxxxx, Xxxx Ping |
|
Β | Β |
|
Name:
FENG, ZI JIA Title More Title |
Β | Β | Name:
XXXXX,
XXXX PING Title More Title |
EXHIBIT
"A"
PURCHASER
REPRESENTATIONS LETTER
Xxxxx,
Xxxx Ping
0000
Xxxxxx Xxxxx, Xxxx Xxxxx, Xxxxxxx Xxxxxxxx
Xxxxxx
X0X 0X0
Dear
Sir:
The
undersigned, Feng Zi Jia, intends to purchase One Million (1,000,000) shares
(the βSharesβ) of common stock of Greater China Media and Entertainment Corp.
(the βCompanyβ) from you in a transaction that is exempt from registration under
the United States Securities Act of 1933, as amended (the βSecurities Actβ).
The
undersigned represents and warrants as follows:
(1)Β The
offer
to purchase the Shares was made to him outside of the United States, while
the
undersigned was, and is now, outside the United States;
(2)Β The
undersigned is not a U.S. Person (as such term is defined in Section 902(a)
of
Regulation S ("Regulation S") promulgated under the Securities Act; and he
is
purchasing the Shares for his own account and not for the account or benefit
of
any U.S. person;
(3)Β All
offers and sales by the undersigned of the Shares shall be made pursuant to
an
effective registration statement under the Securities Act or pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act;
(4)Β The
undersigned is familiar with and understands the terms and conditions and
requirements contained in Regulation S;
(5)Β The
undersigned has not engaged in any "directed selling efforts" (as such term
is
defined in Regulation S) with respect to the Shares; and
(6)Β The
undersigned is purchasing the Shares with investment intent and at present
does
not have the intent to sell, dispose of, or otherwise transfer, the
Shares.
Β
Β | Β | Β |
Β | Β | |
Β Β |
Β Β |
Β Β |
Date:Β January 30, 2007 | By:Β Β | /s/Β Feng, Zi Xxx |
Β |
Xxxx,
Xx Xxx
|
|
Β | TitleΒ |
Exhibit
10.3
These
securities have not been registered with the United States Securities and
Exchange Commission or the securities commission of any state because they
are
believed to be exempt from registration under Regulation D and/or Regulation
S
promulgated under the Securities Act of 1933, as amended (the βActβ). The
foregoing authorities have not confirmed the accuracy or determined the adequacy
of this document. Any representation to the contrary is a criminal offense.
This
subscription agreement shall not constitute an offer to sell nor a solicitation
of an offer to buy the securities in any jurisdiction in which such offer or
solicitation would be unlawful.
These
securities are subject to restrictions on transferability and resale and may
not
be transferred or resold except as permitted under the Act, an applicable state
securities laws, pursuant to registration or exemption therefrom. Investors
should be aware that they will be required to bear the financial risks of this
investment for an indefinite period of time. All offers and sales of the
herein-described securities by non-U.S. persons before the expiration of a
period commencing on the date of the closing of this offering and ending one
year thereafter shall only be made in compliance with Regulation S, pursuant
to
registration under the Act, or pursuant to an exemption from registration,
and
all offers and sales after the expiration of the one-year period shall be made
only pursuant to registration or an exemption from registration. Hedging
transactions involving these securities may not be conducted unless in
compliance with the Act.
This
Offshore Stock Purchase Agreement (the βAgreementβ) is entered into this 30 day
of January, 2007 (the βEffective Dateβ), by and between XXXXX, XXXX PING, a
citizen and resident of Vancouver, British Columbia, Canada (βSELLERβ) and LI,
TIE JUN a citizen and resident of the Peopleβs Republic of China (βPURCHASERβ),
with respect to shares of common stock of GREATER CHINA MEDIA AND ENTERTAINMENT
CORP., a Nevada corporation (βISSUERβ).
WHEREAS,
PURCHASER desires to purchase One Million (1,000,000) shares of restricted
common stock of ISSUER (the βSharesβ); and
WHEREAS,
SELLER agrees to deliver the Shares for the Consideration (as defined below)
to
be paid by PURCHASER, subject to the terms and conditions set forth
below.
NOW,
THEREFORE, for and in consideration of the mutual promises herein, and for
other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:
1.Β Β Β Β Β Purchase
and Sale.
On the
basis of the representations and warranties herein contained, subject to the
terms and conditions set forth herein, PURCHASER hereby agrees to purchase
the
Shares at a purchase price of US$.001 per share, for a total aggregate purchase
price of $1,000 (the βConsiderationβ), and SELLER hereby agrees to sell the
Shares to PURCHASER for such Consideration.
2.Β Β Β Β
Closing.
The
closing of the purchase and sale contemplated by this Agreement (the βClosingβ)
shall occur upon the transfer of the Consideration to the SELLER by PURCHASER
by
check or wire transfer of funds. SELLER shall cause ISSUER to deliver the Shares
to PURCHASER within 14 days of receiving full payment under this
Agreement.
A.Β Β Β Β Β Transactions
and Document Exchange at Closing. Prior to or at the Closing, the following
transactions shall occur and documents shall be exchanged, all of which shall
be
deemed to occur simultaneously:
Β | Β | Β |
Β Β Β Β Β
(1)
by
PURCHASER:
PURCHASER shall deliver, or cause to be delivered, to SELLER: (a) the balance
of
the Consideration (if any); and (b) such other documents, instruments, and/or
certificates, if any, as are required to be delivered pursuant to the provisions
of this Agreement, or which are reasonably determined by the parties to be
required to effectuate the transactions contemplated in this Agreement, or
as
otherwise may be reasonably requested by SELLER in furtherance of the intent
of
this Agreement;
Β | Β |
(2)
by
SELLER:
SELLER shall deliver, or cause the ISSUER to make the following to
be
delivered, to PURCHASER: (a) the Shares; and (b) such other documents,
instruments, and/or certificates, if any, as are required to be delivered
pursuant to the provisions of this Agreement, or which are reasonably
determined by the parties to be required to effectuate the transactions
contemplated in this Agreement, or as otherwise may be reasonably
requested by PURCHASER in furtherance of the intent of this
Agreement.
|
Β |
B.
|
Post-Closing
Documents. From time to time after the Closing, upon the reasonable
request of any party, the party to whom the request is made shall
deliver
such other and further documents, instruments, and/or certificates
as may
be necessary to more fully vest in the requesting party the Consideration
or the Shares as provided for in this Agreement, or to enable the
requesting party to obtain the rights and benefits contemplated by
this
Agreement.
|
3.
|
Private
Offering.
PURCHASER and SELLER both understand and agree that the purchase
and sale
of securities contemplated herein constitutes a private, arms-length
transaction between a willing seller and willing buyer without the
use or
reliance upon a broker, distributor or securities
underwriter.
|
Β |
A.
|
Purchase
for Investment. Neither PURCHASER nor SELLER are underwriters of,
or
dealers in, the securities to be sold and exchanged
hereunder.
|
B.Β Β Β Β Β Investment
Risk. Because of ISSUER's financial position and other factors as disclosed
in
ISSUER's publicly filed reports with the SEC, the transaction contemplated
by
this Agreement may involve a high degree of financial risk, including the risk
that one or both parties may lose its entire investment, and both parties hereby
agree that they have each undertaken an independent evaluation of the risks
associated with the Shares, and both parties understand those risks and are
willing to accept the risk that they may be to bear the financial risks of
this
investment for an indefinite period of time.
Β |
C.
|
Access
to Information. PURCHASER and ISSUER and their advisors have been
afforded
the opportunity to discuss the transaction with legal and accounting
professionals and to examine and evaluate the financial impact of
the sale
and exchange contemplated herein. PURCHASER has received and reviewed
ISSUER's most recent Form 10-KSB as amended, and quarterly reports
on Form
10-QSB for the most recent two quarters, all as filed with the SEC.
PURCHASER acknowledges that it has been furnished with the information
required to conform with the provisions of subparagraph (a)(5) of
Rule
15c2-11 of the Securities and Exchange Commission.
|
4.
|
Representations
and Warranties of PURCHASER:
PURCHASER hereby covenants and represents and warrants to SELLER
that:
|
Β |
A.
|
Organization.
PURCHASER is a citizen and resident of the People's Republic of China.
The
execution and delivery of this Agreement and the consummation of
the
transaction contemplated in this Agreement have been, or will be
prior to
Closing, duly undertaken on the part of the PURCHASER. This Agreement
has
been duly executed and delivered by PURCHASER and constitutes a binding
and enforceable obligation of
PURCHASER.
|
Β |
B.
|
Third
Party Consent. No authorization, consent, or approval of, or registration
or filing with, any governmental authority or any other person is
required
to be obtained or made by PURCHASER in connection with the execution,
delivery, or performance of this Agreement or the transfer of the
Shares,
or if any such is required, PURCHASER will have or will obtain the
same
prior to Closing.
|
Β |
C.
|
Litigation.
PURCHASER is not a defendant against whom a claim has been made or
a
judgment rendered in any litigation or proceedings before any local,
state, or federal government, including but not limited to the United
States, or any department, board, body, or agency
thereof.
|
Β |
D.
|
Authority.
This Agreement has been duly executed by PURCHASER, and the execution
and
performance of this Agreement will not violate, or result in a breach
of,
or constitute a default in, any agreement, instrument, judgment,
order, or
decree to which PURCHASER is a party or to which the Consideration
is
subject.
|
Β |
E.
|
Offshore
Transaction. PURCHASER represents and warrants to SELLER as follows:
(i)
PURCHASER is not a βU.S. personβ as that term is defined in Rule 902 of
Regulation S; (ii) PURCHASER is not, and on the Closing date will
not be,
an affiliate of ISSUER; (iii) at the execution of this Agreement,
as well
as the time this transaction is or was due, PURCHASER was outside
the
United States, and no offer to purchase the Shares was made in the
United
States; (iv) PURCHASER agrees that offers and sales of the Shares
shall
not be made to U.S. persons unless the Shares are registered or a
valid
exemption from registration can be relied on under applicable U.S.
state
and federal securities laws; (v) PURCHASER is not a distributor or
dealer;
(vi) the transactions contemplated hereby have not been and will
not be
made on behalf of any U.S. person or pre-arranged by PURCHASER with
a
purchaser located in the United States or a purchaser which is a
U.S.
person, and such transactions are not and will not be part of a plan
or
scheme to evade the registration provisions of the Act; (vii)all
offering
documents received by PURCHASER include statements to the effect
that the
Shares have not been registered under the Securities Act of 1933
and may
not be offered or sold in the United States or to U.S. Persons (other
than
distributors as defined in Regulation S) during the Restricted Period
unless the Shares are registered under the Securities Act of 1933
or an
exemption from registration is
available.
|
The
foregoing representations and warranties are true and accurate as of the date
hereof, shall be true and accurate as of the date of the acceptance by SELLER
of
PURCHASER's purchase, and shall survive thereafter. If PURCHASER has knowledge,
prior to the acceptance of this Offshore Stock Purchase Agreement by SELLER,
that any such representations and warranties shall not be true and accurate
in
any respect, PURCHASER prior to such acceptance, will give written notice of
such fact to SELLER specifying which representations and warranties are not
true
and accurate and the reasons therefor.
PURCHASER
agrees to fully indemnify, defend and hold harmless SELLER, his agents and
attorneys from and against any and all losses, claims, damages, liabilities
and
expenses, including reasonable attorney's fees and expenses, which may result
from a breach of PURCHASER's representations, warranties and agreements
contained herein.
Β |
F.
|
Accredited
Investor. PURCHASER is an accredited investor as that term is defined
in
Rule 501(a) of Regulation D promulgated under the Act. PURCHASER
further
represents and warrants that the information as disclosed in βExhibit Aβ
attached hereto is true and
correct.
|
Β |
G.
|
Beneficial
Owner. PURCHASER is purchasing stock for its own account or for the
account of beneficiaries for whom PURCHASER has full investment discretion
with respect to stock and whom PURCHASER has full authority to bind,
so
that each such beneficiary is bound hereby as if such beneficiary
were a
direct signatory hereunder, and all representations, warranties and
agreements herein were made directly by such
beneficiary.
|
Β |
H.
|
Directed
Selling Efforts. PURCHASER will not engage in any activity for the
purpose
of, or that could reasonably be expected to have the effect of,
conditioning the market in the United States for any of the Shares
sold
hereunder. To the best of its knowledge, neither PURCHASER nor any
person
acting for PURCHASER has conducted any βdirected selling effortsβ as that
term is defined in Rule 902 of Regulation S.
|
Β |
I.
|
Independent
Investigation; Access. PURCHASER, in electing to purchase the Shares
herein, has relied solely upon independent investigation made by
it and
its representatives. PURCHASER has been given no oral or written
representation or warranty from ISSUER other than as set forth in
this
Agreement. PURCHASER and its representatives, if any, have, prior
to any
sale to it, been given access and the opportunity to examine all
material
books and records of ISSUER, all material contracts and documents
relating
to ISSUER and this offering and an opportunity to ask questions of,
and to
receive answers from, ISSUER or any officer of ISSUER acting on its
behalf
concerning ISSUER and the terms and conditions of this offering.
PURCHASER
and its advisors, if any, have been furnished with access to all
publicly
available materials relating to the business, finances and operations
of
ISSUER and materials relating to the offer and sale of the Shares
which
have been requested. PURCHASER and its advisors, if any, have received
complete and satisfactory answers to any such
inquiries.
|
Β |
J.
|
No
Government Recommendation or Approval. PURCHASER understands that
no
United States federal or state agency, or similar agency of any other
country, has passed upon or made any recommendation or endorsement
of the
Shares, or this transaction.
|
Β |
K.
|
No
Formation or Membership in βGroup.β PURCHASER is not part of a βgroupβ as
that term is defined under the Act. PURCHASER is not, and does not
intend
to become, included with
two or more persons acting as a partnership, syndicate, or other
group for
the purpose of acquiring, holding or disposing of securities of the
Company.
|
Β |
L.
|
Hedging
Transactions. PURCHASER hereby agrees not to engage in any hedging
transactions involving the securities described herein unless in
compliance with the Act and Regulation S promulgated
thereunder.
|
5.
|
Conditions
Precedent to SELLER'S Closing.
All obligations of SELLER under his Agreement, and as an inducement
to
SELLER to enter into this Agreement, are subject to PURCHASER's covenants
and agreements to each of the
following:
|
Β |
A.
|
Acceptance
of Documents. All instruments and documents delivered to SELLER pursuant
to this Agreement or reasonably requested by SELLER to verify the
representations and warranties of PURCHASER herein, shall be satisfactory
to SELLER and its legal counsel.
|
Β |
B.
|
Representations
and Warranties. The representations and warranties by PURCHASER set
forth
in this Agreement shall be true and correct at and as of the Closing
date,
with the same force and effect as though made at and as of the date
hereof, except for changes permitted or contemplated by this
Agreement.
|
Β |
C.
|
No
Breach or Default. PURCHASER shall have performed and complied with
all
covenants, agreements, and conditions required by this Agreement
to be
performed or complied with by it prior to or at the
Closing.
|
6.Β Β Β Β Β Termination.
This
Agreement may be terminated at any time prior to the date of Closing by either
party if (a) there shall be any actual or threatened action or proceeding by
or
before any court or any other governmental body which shall seek to restrain,
prohibit, or invalidate the transaction contemplated by this Agreement, and
which in the judgment of such party giving notice to terminate and based upon
the advice of legal counsel makes it inadvisable to proceed with the transaction
contemplated by this Agreement, or (b) if this Agreement has not been approved
and properly executed by the parties by March 31, 2007.
7.
|
Restrictive
Legend.
PURCHASER agrees that the Shares shall bear a restrictive legend
to the
effect that transfer is prohibited except in accordance with the
provisions of Regulation S, pursuant to registration under the Act,
or
pursuant to an available exemption from registration, and that hedging
transactions involving those securities may not be conducted unless
in
compliance with the Act.
|
8.
|
ISSUER's
Obligation to Refuse Transfer.
Pursuant to Regulation S promulgated under the Act, SELLER hereby
agrees
to cause ISSUER to refuse to register any transfer of the Shares
not made
in accordance with the provisions of Regulation S, pursuant to registration
under the Act, or pursuant to an available exemption from
registration.
|
9.
|
Miscellaneous.
|
A.Β Β Β Β Β Valid
Execution. This Agreement has been validly executed.
Β |
B.
|
Notices.
Any notice under this Agreement shall be deemed to have been sufficiently
given if sent by registered or certified mail, postage prepaid, or
by
express mail service substantially equivalent to Federal Express,
addressed as follows:
|
Β
To
PURCHASER:Β Β Β Β Β Β Li,
Tie
Jun
#5011
Team 0, Xx Xxx Xxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xx
Xxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xxxxxxxxxxxx,
Xxxxx
To
SELLER:Β Β Β Β Β Β Β Β Β Xxxxx,
Xxxx Ping.
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β 0000
Xxxxxx Xxxxx,
Xxxx Xxxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xxxxxxx
Xxxxxxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xxxxxx
X0X 0X0:
Β
C.Β Β Β Β Β Entire
Agreement. This Agreement constitutes the entire agreement among the parties
hereto with respect to the subject matter hereof and supersedes any and all
prior or contemporaneous representations, warranties, agreements and
understandings in connection therewith. This Agreement may be amended only
by a
writing executed by all parties hereto.
D.Β Β Β Β Β Severability.
If a court of competent jurisdiction determines that any clause or provision
of
this Agreement is invalid, illegal or unenforceable, the other clauses and
provisions of the Agreement shall remain in full force and effect and the
clauses and provisions which are determined to be void, illegal or unenforceable
shall be limited so that they shall remain in effect to the extent permissible
by law.
Β |
E.
|
Assignment.
None of the parties hereto may assign this Agreement without the
express
written consent of the other parties and any approved assignment
shall be
binding on and inure to the benefit of such successor or, in the
event of
death or incapacity, on assignor's heirs, executors, administrators,
representatives, and successors.
|
Β |
F.
|
Applicable
Law. This Agreement has been negotiated and is being contracted for
in
Canda, Province of British Columbia.. It shall be governed by and
interpreted in accordance with the laws of Canada and the Province
of
British Columbia, regardless of any conflict-of-law provision to
the
contrary.
|
Β |
G.
|
Attorney's
Fees. If any legal action or other proceeding (including but not
limited
to binding arbitration) is brought for the enforcement of or to declare
any right or obligation under this Agreement or as a result of a
breach,
default or misrepresentation in connection with any of the provisions
of
this Agreement, or otherwise because of a dispute among the parties
hereto, the prevailing party will be entitled to recover actual attorney's
fees (including for appeals and collection and including the actual
cost
of in-house counsel, if any) and other expenses incurred in such
action or
proceeding, in addition to any other relief to which such party may
be
entitled.
|
Β |
H.
|
Counterparts
and Facsimile. This Agreement may be executed in any number of identical
counterparts (except as to signature only), each of which may be
deemed an
original for all purposes. A fax, telecopy or other reproduction
of this
instrument may be executed by one or more parties hereto and such
executed
copy may be delivered by facsimile or similar instantaneous electronic
transmission device pursuant to which the signature of or on behalf
of
such party can be discerned as legible, and such execution and delivery
shall be considered valid, binding and effective for all
purposes.
|
IN
WITNESS WHEREOF, the parties have execute this agreement below.
Β
(In
His
Individual Capacity)
Β (In His Individual Capacity) | Β | Β | Β (In His Individual Capacity) |
/s/Β Li, Tie Jun | Β | Β | /s/Β Xxxxx, Xxxx Ping |
Β Β Β Β Β Β |
Β | Β |
|
Name:
LI, TIE
JUN Title More Title |
Β | Β | Name:
XXXXX, XXXX
PING Title More Title |
Β
Β
EXHIBIT
"A"
PURCHASER
REPRESENTATIONS LETTER
Xxxxx,
Xxxx Ping
0000
Xxxxxx Xxxxx, Xxxx Xxxxx, Xxxxxxx Xxxxxxxx
Xxxxxx
X0X 0X0
Dear
Sir:
The
undersigned, Li, Tie Jun, intends to purchase One Million (1,000,000) shares
(the βSharesβ) of common stock of Greater China Media and Entertainment Corp.
(the βCompanyβ) from you in a transaction that is exempt from registration under
the United States Securities Act of 1933, as amended (the βSecurities Actβ).
The
undersigned represents and warrants as follows:
(1)Β The
offer
to purchase the Shares was made to him outside of the United States, while
the
undersigned was, and is now, outside the United States;
(2)Β The
undersigned is not a U.S. Person (as such term is defined in Section 902(a)
of
Regulation S ("Regulation S") promulgated under the Securities Act; and he
is
purchasing the Shares for his own account and not for the account or benefit
of
any U.S. person;
(3)Β All
offers and sales by the undersigned of the Shares shall be made pursuant to
an
effective registration statement under the Securities Act or pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act;
(4)Β The
undersigned is familiar with and understands the terms and conditions and
requirements contained in Regulation S;
(5)Β The
undersigned has not engaged in any "directed selling efforts" (as such term
is
defined in Regulation S) with respect to the Shares; and
(6)Β The
undersigned is purchasing the Shares with investment intent and at present
does
not have the intent to sell, dispose of, or otherwise transfer, the
Shares.
Β
Β | Β | Β |
Β | Β | |
Β Β |
Β Β |
Β Β |
Date:Β January 30, 2007 | By:Β Β | /s/Β Li, Tie Xxx |
Β |
Xx, Tie Jun |
|
Β | TitleΒ |
Β
Β
Exhibit
10.4
These
securities have not been registered with the United States Securities and
Exchange Commission or the securities commission of any state because they
are
believed to be exempt from registration under Regulation D and/or Regulation
S
promulgated under the Securities Act of 1933, as amended (the βActβ). The
foregoing authorities have not confirmed the accuracy or determined the adequacy
of this document. Any representation to the contrary is a criminal offense.
This
subscription agreement shall not constitute an offer to sell nor a solicitation
of an offer to buy the securities in any jurisdiction in which such offer or
solicitation would be unlawful.
These
securities are subject to restrictions on transferability and resale and may
not
be transferred or resold except as permitted under the Act, an applicable state
securities laws, pursuant to registration or exemption therefrom. Investors
should be aware that they will be required to bear the financial risks of this
investment for an indefinite period of time. All offers and sales of the
herein-described securities by non-U.S. persons before the expiration of a
period commencing on the date of the closing of this offering and ending one
year thereafter shall only be made in compliance with Regulation S, pursuant
to
registration under the Act, or pursuant to an exemption from registration,
and
all offers and sales after the expiration of the one-year period shall be made
only pursuant to registration or an exemption from registration. Hedging
transactions involving these securities may not be conducted unless in
compliance with the Act.
This
Offshore Stock Purchase Agreement (the βAgreementβ) is entered into this 30 day
of January, 2007 (the βEffective Dateβ), by and between XXXXX, XXXX PING, a
citizen and resident of Vancouver, British Columbia, Canada (βSELLERβ) and XXX,
XXXX QI, a citizen and resident of the People's Republic of China (βPURCHASERβ),
with respect to shares of common stock of GREATER CHINA MEDIA AND ENTERTAINMENT
CORP., a Nevada corporation (βISSUERβ).
WHEREAS,
PURCHASER desires to purchase One Million (1,000,000) shares of restricted
common stock of ISSUER (the βSharesβ); and
WHEREAS,
SELLER agrees to deliver the Shares for the Consideration (as defined below)
to
be paid by PURCHASER, subject to the terms and conditions set forth
below.
NOW,
THEREFORE, for and in consideration of the mutual promises herein, and for
other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:
1.Β Β Β Β Β Purchase
and Sale.
On the
basis of the representations and warranties
herein contained, subject to the terms and conditions set forth herein,
PURCHASER hereby agrees to purchase the Shares at a purchase price of US$.001
per share, for a total aggregate purchase price of $1,000 (the βConsiderationβ),
and SELLER hereby agrees to sell the Shares to PURCHASER for such
Consideration.
2.Β Β Β Β Β Closing.
The
closing of the purchase and sale contemplated by this Agreement (the βClosingβ)
shall occur upon the transfer of the Consideration to the SELLER by PURCHASER
by
check or wire transfer of funds. SELLER shall cause ISSUER to deliver the Shares
to PURCHASER within 14 days of receiving full payment under this
Agreement.
Β |
A.
|
Transactions
and Document Exchange at Closing. Prior to or at the Closing, the
following transactions shall occur and documents shall be exchanged,
all
of which shall be deemed to occur simultaneously:
|
Β | Β | Β |
Β Β Β Β Β Β (1)
by
PURCHASER:
PURCHASER shall deliver, or cause to be delivered, to SELLER: (a) the balance
of
the Consideration (if any); and (b) such other documents, instruments, and/or
certificates, if any, as are required to be delivered pursuant to the provisions
of this Agreement, or which are reasonably determined by the parties to be
required to effectuate the transactions contemplated in this Agreement, or
as
otherwise may be reasonably requested by SELLER in furtherance of the intent
of
this Agreement;
Β | Β |
(2)
by
SELLER:
SELLER shall deliver, or cause the ISSUER to make the following to
be
delivered, to PURCHASER: (a) the Shares; and (b) such other documents,
instruments, and/or certificates, if any, as are required to be delivered
pursuant to the provisions of this Agreement, or which are reasonably
determined by the parties to be required to effectuate the transactions
contemplated in this Agreement, or as otherwise may be reasonably
requested by PURCHASER in furtherance of the intent of this
Agreement.
|
Β |
B.
|
Post-Closing
Documents. From time to time after the Closing, upon the reasonable
request of any party, the party to whom the request is made shall
deliver
such other and further documents, instruments, and/or certificates
as may
be necessary to more fully vest in the requesting party the Consideration
or the Shares as provided for in this Agreement, or to enable the
requesting party to obtain the rights and benefits contemplated by
this
Agreement.
|
3.
|
Private
Offering.
PURCHASER and SELLER both understand and agree that the purchase
and sale
of securities contemplated herein constitutes a private, arms-length
transaction between a willing seller and willing buyer without the
use or
reliance upon a broker, distributor or securities
underwriter.
|
Β |
A.
|
Purchase
for Investment. Neither PURCHASER nor SELLER are
underwriters of, or dealers in, the securities to be sold and exchanged
hereunder.
|
Β |
B.
|
Investment
Risk. Because of ISSUER's financial position and other factors as
disclosed in ISSUER's publicly filed reports with the SEC, the transaction
contemplated by this Agreement may involve a high degree of financial
risk, including the risk that one or both parties may lose its entire
investment, and both parties hereby agree that they have each undertaken
an independent evaluation of the risks associated with the Shares,
and
both parties understand those risks and are willing to accept the
risk
that they may be to bear the financial risks of this investment for
an
indefinite period of time.
|
Β |
C.
|
Access
to Information. PURCHASER and ISSUER and their advisors have been
afforded
the opportunity to discuss the transaction with legal and accounting
professionals and to examine and evaluate the financial impact of
the sale
and exchange contemplated herein. PURCHASER has received and reviewed
ISSUER's most recent Form 10-KSB as amended, and quarterly reports
on Form
10-QSB for the most recent two quarters, all as filed with the SEC.
PURCHASER acknowledges that it has been furnished with the information
required to conform with the provisions of subparagraph (a)(5) of
Rule
15c2-11 of the Securities and Exchange Commission.
|
4.Β Β Β Β Β Representations
and Warranties of PURCHASER:
PURCHASER hereby covenants and represents and warrants to SELLER
that:
Β |
A.
|
Organization.
PURCHASER is a citizen and resident of the People's Republic of China.
The
execution and delivery of this Agreement and the consummation of
the
transaction contemplated in this Agreement have been, or will be
prior to
Closing, duly undertaken on the part of the PURCHASER. This Agreement
has
been duly executed and delivered by PURCHASER and constitutes a binding
and enforceable obligation of
PURCHASER.
|
Β |
B.
|
Third
Party Consent. No authorization, consent, or approval of, or registration
or filing with, any governmental authority or any other person is
required
to be obtained or made by PURCHASER in connection with the execution,
delivery, or performance of this Agreement or the transfer of the
Shares,
or if any such is required, PURCHASER will have or will obtain the
same
prior to Closing.
|
Β |
C.
|
Litigation.
PURCHASER is not a defendant against whom a claim has been made or
a
judgment rendered in any litigation or proceedings before any local,
state, or federal government, including but not limited to the United
States, or any department, board, body, or agency
thereof.
|
Β |
D.
|
Authority.
This Agreement has been duly executed by PURCHASER, and the execution
and
performance of this Agreement
will not violate, or result in a breach of, or constitute a default
in,
any agreement, instrument, judgment, order, or decree to which PURCHASER
is a party or to which the Consideration is
subject.
|
Β |
E.
|
Offshore
Transaction. PURCHASER represents and warrants to SELLER as follows:
(i)
PURCHASER is not a βU.S. personβ as that term is defined in Rule 902 of
Regulation S; (ii) PURCHASER is not, and on the Closing date will
not be,
an affiliate of ISSUER; (iii) at the execution of this Agreement,
as well
as the time this transaction is or was due, PURCHASER was outside
the
United States, and no offer to purchase the Shares was made in the
United
States; (iv) PURCHASER agrees that offers and sales of the Shares
shall
not be made to U.S. persons unless the Shares are registered or a
valid
exemption from registration can be relied on under applicable U.S.
state
and federal securities laws; (v) PURCHASER is not a distributor or
dealer;
(vi) the transactions contemplated hereby have not been and will
not be
made on behalf of any U.S. person or pre-arranged by PURCHASER with
a
purchaser located in the United States or a purchaser which is a
U.S.
person, and such transactions are not and will not be part of a plan
or
scheme to evade the registration provisions of the Act; (vii)all
offering
documents received by PURCHASER include statements to the effect
that the
Shares have not been registered under the Securities Act of 1933
and may
not be offered or sold in the United States or to U.S. Persons (other
than
distributors as defined in Regulation S) during the Restricted Period
unless the Shares are registered under the Securities Act of 1933
or an
exemption from registration is
available.
|
The
foregoing representations and warranties are true and accurate as of the date
hereof, shall be true and accurate as of the date of the acceptance by SELLER
of
PURCHASER's purchase, and shall survive thereafter. If PURCHASER has knowledge,
prior to the acceptance of this Offshore Stock Purchase Agreement by SELLER,
that any such representations and warranties shall not be true and accurate
in
any respect, PURCHASER prior to such acceptance, will give written notice of
such fact to SELLER specifying which representations and warranties are not
true
and accurate and the reasons therefor.
PURCHASER
agrees to fully indemnify, defend and hold harmless SELLER, his agents and
attorneys from and against any and all losses, claims, damages, liabilities
and
expenses, including reasonable attorney's fees and expenses, which may result
from a breach of PURCHASERβs representations, warranties and agreements
contained herein.
Β |
F.
|
Accredited
Investor. PURCHASER is an accredited investor as that term is defined
in
Rule 501(a) of Regulation D promulgated under the Act. PURCHASER
further
represents and warrants that the information as disclosed in βExhibit
Aβattached
hereto is true and
correct.
|
Β |
G.
|
Beneficial
Owner. PURCHASER is purchasing stock for its own account or for the
account of beneficiaries for whom PURCHASER has full investment discretion
with respect to stock and whom PURCHASER has full authority to bind,
so
that each such beneficiary is bound hereby as if such beneficiary
were a
direct signatory hereunder, and all representations, warranties and
agreements herein were made directly by such
beneficiary.
|
Β |
H.
|
Directed
Selling Efforts. PURCHASER will not engage in any activity for the
purpose
of, or that could reasonably be expected to have the effect of,
conditioning the market in the United States for any of the Shares
sold
hereunder. To the best of its knowledge, neither PURCHASER nor any
person
acting for PURCHASER has conducted any βdirected selling effortsβ as that
term is defined in Rule 902 of Regulation S.
|
Β |
I.
|
Independent
Investigation; Access. PURCHASER, in electing to purchase the Shares
herein, has relied solely upon independent investigation made by
it and
its representatives. PURCHASER has been given no oral or written
representation or warranty from ISSUER other than as set forth in
this
Agreement. PURCHASER and its representatives, if any, have, prior
to any
sale to it, been given access and the opportunity to examine all
material
books and records of ISSUER, all material contracts and documents
relating
to ISSUER and this offering and an opportunity to ask questions of,
and to
receive answers from, ISSUER or any officer of ISSUER acting on its
behalf
concerning ISSUER and the terms and conditions of this offering.
PURCHASER
and its advisors, if any, have been furnished with access to all
publicly
available materials relating to the business, finances and operations
of
ISSUER and materials relating to the offer and sale of the Shares
which
have been requested. PURCHASER and its advisors, if any, have received
complete and satisfactory answers to any such
inquiries.
|
Β |
J.
|
No
Government Recommendation or Approval. PURCHASER understands that
no
United States federal or state agency, or similar agency of any other
country, has passed upon or made any recommendation or endorsement
of the
Shares, or this transaction.
|
Β |
K.
|
No
Formation or Membership in βGroup.β PURCHASER is not part of a βgroupβ as
that term is defined under the Act. PURCHASER is not, and does not
intend
to become, included with two or more persons acting as a partnership,
syndicate, or other group for the purpose of acquiring, holding or
disposing of securities of the
Company.
|
Β |
L.
|
Hedging
Transactions. PURCHASER hereby agrees not to engage in any hedging
transactions involving the securities described herein unless in
compliance with the Act and Regulation S promulgated
thereunder.
|
Β
5.
|
Conditions
Precedent to SELLERβS Closing.
All obligations of SELLER under his Agreement, and as an inducement
to
SELLER to enter into this Agreement, are subject to PURCHASERβs covenants
and agreements to each of the
following:
|
Β |
A.
|
Acceptance
of Documents. All instruments and documents delivered to SELLER pursuant
to this Agreement or reasonably requested by SELLER to verify the
representations and warranties of PURCHASER herein, shall be satisfactory
to SELLER and its legal counsel.
|
Β |
B.
|
Representations
and Warranties. The representations and warranties by PURCHASER set
forth
in this Agreement shall be true and correct at and as of the Closing
date,
with the same force and effect as though made at and as of the date
hereof, except for changes permitted or contemplated by this
Agreement.
|
Β |
C.
|
No
Breach or Default. PURCHASER shall have performed and complied with
all
covenants, agreements, and conditions required by this Agreement
to be
performed or complied with by it prior to or at the
Closing.
|
6.Β Β Β Β Β Termination.
This
Agreement may be terminated at any time prior to the date of Closing by either
party if (a) there shall be any actual or threatened action or proceeding by
or
before any court or any other governmental body which shall seek to restrain,
prohibit, or invalidate the transaction contemplated by this Agreement, and
which in the judgment of such party giving notice to terminate and based upon
the advice of legal counsel makes it inadvisable to proceed with the transaction
contemplated by this Agreement, or (b) if this Agreement has not been approved
and properly executed by the parties by March 31, 2007.
7.Β Β Β Β Β Restrictive
Legend.
PURCHASER agrees that the Shares shall bear a restrictive legend to the effect
that transfer is prohibited except in accordance with the provisions of
Regulation S, pursuant to registration under the Act, or pursuant to an
available exemption from registration, and that hedging transactions involving
those securities may not be conducted unless in compliance with the
Act.
8.Β Β Β Β Β ISSUER's
Obligation to Refuse Transfer.
Pursuant to Regulation S promulgated under the Act, SELLER hereby agrees to
cause ISSUER to refuse to register any transfer of the Shares not made in
accordance with the provisions of Regulation S, pursuant to registration under
the Act, or pursuant to an available exemption from registration.
9.Β Β Β Β Β Miscellaneous.
Β |
A.
|
Valid
Execution. This Agreement has been validly
executed.
|
Β |
B.
|
Notices.
Any notice under this Agreement shall be deemed to have been sufficiently
given if sent by registered or certified mail, postage prepaid, or
by
express mail service substantially equivalent to Federal Express,
addressed as follows:
|
To
PURCHASER:Β Β Β Β Β Β Β Β Β Β Xxx,
Xxxx Qi
Β Β 00
Xxx Xxxx Xxxx, Xxxxx
Xxxx Xxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xxx
Xxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xxxx
Xx, Xxxxx
Β
To
SELLER:Β Β Β Β Β Β Β Β Β Β Xxxxx,
Xxxx Ping
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β 0000
Xxxxxx Xxxxx, Xxxx Xxxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xxxxxxx
Xxxxxxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xxxxxx
X0X 0X0:
Β
C.Β Β Β Β Β Entire
Agreement. This Agreement constitutes the entire agreement among the parties
hereto with respect to the subject matter hereof and supersedes any and all
prior or contemporaneous representations, warranties, agreements and
understandings in connection therewith. This Agreement may be amended only
by a
writing executed by all parties hereto.
Β |
D.
|
Severability.
If a court of competent jurisdiction determines that any clause or
provision of this Agreement is invalid, illegal or unenforceable,
the
other clauses and provisions of the Agreement shall remain in full
force
and effect and the clauses and provisions which are determined to
be void,
illegal or unenforceable shall be limited so that they shall remain
in
effect to the extent permissible by
law.
|
Β |
E.
|
Assignment.
None of the parties hereto may assign this Agreement without the
express
written consent of the other parties and any approved assignment
shall be
binding on and inure to the benefit of such successor or, in the
event of
death or incapacity, on assignor's heirs, executors, administrators,
representatives, and successors.
|
Β |
F.
|
Applicable
Law. This Agreement has been negotiated and is being contracted for
in
Canda, Province of British Columbia.. It shall be governed by and
interpreted in accordance with the laws of Canada and the Province
of
British Columbia, regardless of any conflict-of-law provision to
the
contrary.
|
Β |
G.
|
Attorney's
Fees. If any legal action or other proceeding (including but not
limited
to binding arbitration) is brought for the enforcement of or to declare
any right or obligation
under this Agreement or as a result of a breach, default or
misrepresentation in connection with any of the provisions of this
Agreement, or otherwise because of a dispute among the parties hereto,
the
prevailing party will be entitled to recover actual attorney's fees
(including for appeals and collection and including the actual cost
of
in-house counsel, if any) and other expenses incurred in such action
or
proceeding, in addition to any other relief to which such party may
be
entitled.
|
Β |
H.
|
Counterparts
and Facsimile. This Agreement may be executed in any number of identical
counterparts (except as to signature only), each of which may be
deemed an
original for all purposes. A fax, telecopy or other reproduction
of this
instrument may be executed by one or more parties hereto and such
executed
copy may be delivered by facsimile or similar instantaneous electronic
transmission device pursuant to which the signature of or on behalf
of
such party can be discerned as legible, and such execution and delivery
shall be considered valid, binding and effective for all
purposes.
|
IN
WITNESS WHEREOF, the parties have execute this agreement below.
Β Β Β Β Β
Β
Β (In His Individual Capacity) | Β | Β | Β (In His Individual Capacity) |
/s/Β Xxx, Xxxx Qi | Β | Β | /s/Β Xxxxx, Xxxx Ping |
|
Β | Β |
|
Name:
XXX, XXXX QI
Title More Title |
Β | Β | Name:
XXXXX, XXXX
PING Title More Title |
Β
Β
EXHIBIT
"A"
PURCHASER
REPRESENTATIONS LETTER
Xxxxx,
Xxxx Ping
0000
Xxxxxx Xxxxx, Xxxx Xxxxx, Xxxxxxx Xxxxxxxx
Xxxxxx
X0X 0X0
Dear
Sir:
The
undersigned, Xxx, Xxxx Qi, intends to purchase One Million (1,000,000) shares
(the βSharesβ) of common stock of Greater China Media and Entertainment Corp.
(the βCompanyβ) from you in a transaction that is exempt from registration under
the United States Securities Act of 1933, as amended (the βSecurities Actβ).
The
undersigned represents and warrants as follows:
(1)Β The
offer
to purchase the Shares was made to him outside of the United States, while
the
undersigned was, and is now, outside the United States;
(2)Β The
undersigned is not a U.S. Person (as such term is defined in Section 902(a)
of
Regulation S ("Regulation S") promulgated under the Securities Act; and he
is
purchasing the Shares for his own account and not for the account or benefit
of
any U.S. person;
(3)Β All
offers and sales by the undersigned of the Shares shall be made pursuant to
an
effective registration statement under the Securities Act or pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act;
(4)Β The
undersigned is familiar with and understands the terms and conditions and
requirements contained in Regulation S;
(5)Β The
undersigned has not engaged in any "directed selling efforts" (as such term
is
defined in Regulation S) with respect to the Shares; and
(6)Β The
undersigned is purchasing the Shares with investment intent and at present
does
not have the intent to sell, dispose of, or otherwise transfer, the
Shares.
Β
Β | Β | Β |
Β | Β | |
Β Β |
Β Β |
Β Β |
Date:Β January 30, 2007 | By:Β Β | /s/Β Xxx, Xxxx Xx |
Β |
Xxx, Xxxx Xx |
|
Β | TitleΒ |
Β
Exhibit
10.5
These
securities have not been registered with the United States Securities and
Exchange Commission or the securities commission of any state because they
are
believed to be exempt from registration under Regulation D and/or Regulation
S
promulgated under the Securities Act of 1933, as amended (the βActβ). The
foregoing authorities have not confirmed the accuracy or determined the adequacy
of this document. Any representation to the contrary is a criminal offense.
This
subscription agreement shall not constitute an offer to sell nor a solicitation
of an offer to buy the securities in any jurisdiction in which such offer or
solicitation would be unlawful.
These
securities are subject to restrictions on transferability and resale and may
not
be transferred or resold except as permitted under the Act, an applicable state
securities laws, pursuant to registration or exemption therefrom. Investors
should be aware that they will be required to bear the financial risks of this
investment for an indefinite period of time. All offers and sales of the
herein-described securities by non-U.S. persons before the expiration of a
period commencing on the date of the closing of this offering and ending one
year thereafter shall only be made in compliance with Regulation S, pursuant
to
registration under the Act, or pursuant to an exemption from registration,
and
all offers and sales after the expiration of the one-year period shall be made
only pursuant to registration or an exemption from registration. Hedging
transactions involving these securities may not be conducted unless in
compliance with the Act.
OFFSHORE
STOCK PURCHASE AGREEMENT
This
Offshore Stock Purchase Agreement (the βAgreementβ) is entered into this 30 day
of January, 2007 (the βEffective Dateβ), by and between XXXXX, XXXX PING, a
citizen and resident of Vancouver, British Columbia, Canada (βSELLERβ) and TENG,
ZE YONG, a citizen and resident of the Peopleβs Republic of China (βPURCHASERβ),
with respect to shares of common stock of GREATER CHINA MEDIA AND ENTERTAINMENT
CORP., a Nevada corporation (βISSUERβ).
WHEREAS,
PURCHASER desires to purchase One Million (1,000,000) shares of restricted
common stock of ISSUER (the βSharesβ); and
WHEREAS,
SELLER agrees to deliver the Shares for the Consideration (as defined below)
to
be paid by PURCHASER, subject to the terms and conditions set forth
below.
NOW,
THEREFORE, for and in consideration of the mutual promises herein, and for
other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:
1.Β Β Β Β Β Purchase
and Sale.
On the
basis of the representations and warranties herein contained, subject to the
terms and conditions set forth herein, PURCHASER hereby agrees to purchase
the
Shares at a purchase price of US$.001 per share, for a total aggregate purchase
price of $1,000 (the βConsiderationβ), and SELLER hereby agrees to sell the
Shares to PURCHASER for such Consideration.
2.Β Β Β Β Β Closing.
The
closing of the purchase and sale contemplated by this Agreement (the βClosingβ)
shall occur upon the transfer of the Consideration to the SELLER by PURCHASER
by
check or wire transfer of funds. SELLER shall cause ISSUER to deliver the Shares
to PURCHASER within 14 days of receiving full payment under this
Agreement.
A.Β Β Β Β Β Transactions
and Document Exchange at Closing. Prior to or at the Closing, the following
transactions shall occur and documents shall be exchanged, all of which shall
be
deemed to occur simultaneously:
Β | Β | Β |
Β Β Β Β Β Β (1)
by
PURCHASER:
PURCHASER shall deliver, or cause to be delivered, to SELLER: (a) the balance
of
the Consideration (if any); and (b) such other documents, instruments, and/or
certificates, if any, as are required to be delivered pursuant to the provisions
of this Agreement, or which are reasonably determined by the parties to be
required to effectuate the transactions contemplated in this Agreement, or
as
otherwise may be reasonably requested by SELLER in furtherance of the intent
of
this Agreement;
Β | Β |
(2)
by
SELLER:
SELLER shall deliver, or cause the ISSUER to make the following to
be
delivered, to PURCHASER: (a) the Shares; and (b) such other documents,
instruments, and/or certificates, if any, as are required to be delivered
pursuant to the provisions of this Agreement, or which are reasonably
determined by the parties to be required to effectuate the transactions
contemplated in this Agreement, or as otherwise may be reasonably
requested by PURCHASER in furtherance of the intent of this
Agreement.
|
Β |
B.
|
Post-Closing
Documents. From time to time after the Closing, upon the reasonable
request of any party, the party to whom the request is made shall
deliver
such other and further documents, instruments, and/or certificates
as may
be necessary to more fully vest in the requesting party the Consideration
or the Shares as provided for in this Agreement, or to enable the
requesting party to obtain the rights and benefits contemplated by
this
Agreement.
|
3.Β Β Β Β Β Private
Offering.
PURCHASER and SELLER both understand and agree that the purchase and sale of
securities contemplated herein constitutes a private, arms-length transaction
between a willing seller and willing buyer without the use or reliance upon
a
broker, distributor or securities underwriter.
A.Β Β Β Β Β Purchase
for
Investment. Neither PURCHASER nor SELLER are underwriters of, or dealers in,
the
securities to be sold and exchanged hereunder.
B.Β Β Β Β Β Investment
Risk. Because of ISSUER's financial position and other factors as disclosed
in
ISSUER's publicly filed reports with the SEC, the transaction contemplated
by
this Agreement may involve a high degree of financial risk, including the risk
that one or both parties may lose its entire investment, and both parties hereby
agree that they have each undertaken an independent evaluation of the risks
associated with the Shares, and both parties understand those risks and are
willing to accept the risk that they may be to bear the financial risks of
this
investment for an indefinite period of time.
Β |
C.
|
Access
to Information. PURCHASER and ISSUER and their advisors have been
afforded
the opportunity to discuss the transaction with legal and accounting
professionals and to examine and evaluate the financial impact of
the sale
and exchange contemplated herein. PURCHASER has received and reviewed
ISSUER's most recent Form 10-KSB as amended, and quarterly reports
on Form
10-QSB for the most recent two quarters, all as filed with the SEC.
PURCHASER acknowledges that it has been furnished with the information
required to conform with the provisions of subparagraph (a)(5) of
Rule
15c2-11 of the Securities and Exchange Commission.
|
4.
Representations
and Warranties of PURCHASER:
PURCHASER hereby covenants and represents and warrants to SELLER
that:
A.
Organization. PURCHASER is a citizen and resident of the People's Republic
of
China. The execution and delivery of this Agreement and the consummation of
the
transaction contemplated in this Agreement have been, or will be prior to
Closing, duly undertaken on the part of the PURCHASER. This Agreement has been
duly executed and delivered by PURCHASER and constitutes a binding and
enforceable obligation of PURCHASER.
Β |
B.
|
Third
Party Consent. No authorization, consent, or approval of, or registration
or filing with, any governmental authority or any other person is
required
to be obtained or made by PURCHASER in connection with the execution,
delivery, or performance of this Agreement or the transfer of the
Shares,
or if any such is required, PURCHASER will have or will obtain the
same
prior to Closing.
|
Β |
C.
|
Litigation.
PURCHASER is not a defendant against whom a claim has been made or
a
judgment rendered in any litigation or proceedings before any local,
state, or federal government, including but not limited to the United
States, or any department, board, body, or agency
thereof.
|
Β |
D.
|
Authority.
This Agreement has been duly executed by PURCHASER, and the execution
and
performance of this Agreement will not violate, or result in a breach
of,
or constitute a default in, any agreement, instrument, judgment,
order, or
decree to which PURCHASER is a party or to which the Consideration
is
subject.
|
Β |
E.
|
Offshore
Transaction. PURCHASER represents and warrants to SELLER as follows:
(i)
PURCHASER is not a βU.S. personβ as that term is defined in Rule 902 of
Regulation S; (ii) PURCHASER is not, and on the Closing date will
not be,
an affiliate of ISSUER; (iii) at the execution of this Agreement,
as well
as the time this transaction is or was due, PURCHASER was outside
the
United States, and no offer to purchase the Shares was made in the
United
States; (iv) PURCHASER agrees that offers and sales of the Shares
shall
not be made to U.S. persons unless the Shares are registered or a
valid
exemption from registration can be relied on under applicable U.S.
state
and federal securities laws; (v) PURCHASER is not a distributor or
dealer;
(vi) the transactions contemplated hereby have not been and will
not be
made on behalf of any U.S. person or pre-arranged by PURCHASER with
a
purchaser located in the United States or a purchaser which is a
U.S.
person, and such transactions are not and will not be part of a plan
or
scheme to evade the registration provisions of the Act; (vii)all
offering
documents received by PURCHASER include statements to the effect
that the
Shares have not been registered under the Securities Act of 1933
and may
not be offered or sold in the United States or to U.S. Persons (other
than
distributors as defined in Regulation S) during the Restricted Period
unless the Shares are registered under the Securities Act of 1933
or an
exemption from registration is
available.
|
The
foregoing representations and warranties are true and accurate as of the date
hereof, shall be true and accurate as of the date of the acceptance by SELLER
of
PURCHASER's purchase, and shall survive thereafter. If PURCHASER has knowledge,
prior to the acceptance of this Offshore Stock Purchase Agreement by SELLER,
that any such representations and warranties shall not be true and accurate
in
any respect, PURCHASER prior to such acceptance, will give written notice of
such fact to SELLER specifying which representations and warranties are not
true
and accurate and the reasons therefor.
PURCHASER
agrees to fully indemnify, defend and hold harmless SELLER, his agents and
attorneys from and against any and all losses, claims, damages, liabilities
and
expenses, including reasonable attorney's fees and expenses, which may result
from a breach of PURCHASER's representations, warranties and agreements
contained herein.
Β |
F.
|
Accredited
Investor. PURCHASER is an accredited investor as that term is defined
in
Rule 501(a) of Regulation D promulgated under the Act. PURCHASER
further
represents and warrants that the information as disclosed in βExhibit Aβ
attached hereto is true and
correct.
|
Β |
G.
|
Beneficial
Owner. PURCHASER is purchasing stock for its own account or for the
account of beneficiaries for whom PURCHASER has full investment discretion
with respect to stock and whom PURCHASER has full authority to bind,
so
that each such beneficiary is bound hereby as if such beneficiary
were a
direct signatory hereunder, and all representations, warranties and
agreements herein were made directly by such
beneficiary.
|
Β |
H.
|
Directed
Selling Efforts. PURCHASER will not engage in any activity for the
purpose
of, or that could reasonably be expected to have the effect of,
conditioning the market in the United States for any of the Shares
sold
hereunder. To the best of its knowledge, neither PURCHASER nor any
person
acting for PURCHASER has conducted any βdirected selling effortsβ as that
term is defined in Rule 902 of Regulation S.
|
Β |
I.
|
Independent
Investigation; Access. PURCHASER, in electing to purchase the Shares
herein, has relied solely upon independent investigation made by
it and
its representatives. PURCHASER has been given no oral or written
representation or warranty from ISSUER other than as set forth in
this
Agreement. PURCHASER and its representatives, if any, have, prior
to any
sale to it, been given access and the opportunity to examine all
material
books and records of ISSUER, all material contracts and documents
relating
to ISSUER and this offering and an opportunity to ask questions of,
and to
receive answers from, ISSUER or any officer of ISSUER acting on its
behalf
concerning ISSUER and the terms and conditions of this offering.
PURCHASER
and its advisors, if any, have been furnished with access to all
publicly
available materials relating to the business, finances and operations
of
ISSUER and materials relating to the offer and sale of the Shares
which
have been requested. PURCHASER and its advisors, if any, have received
complete and satisfactory answers to any such
inquiries.
|
Β |
J.
|
No
Government Recommendation or Approval. PURCHASER understands that
no
United States federal or state agency, or similar agency of any other
country, has passed upon or made any recommendation or endorsement
of the
Shares, or this transaction.
|
Β
Β |
K.
|
No
Formation or Membership in βGroup.β PURCHASER is not part of a βgroupβ as
that term is defined under the Act. PURCHASER is not, and does not
intend
to become, included with
two or more persons acting as a partnership, syndicate, or other
group for
the purpose of acquiring, holding or disposing of securities of the
Company.
|
Β |
L.
|
Hedging
Transactions. PURCHASER hereby agrees not to engage in any hedging
transactions involving the securities described herein unless in
compliance with the Act and Regulation S promulgated
thereunder.
|
5.Β Β Β Β Β Conditions
Precedent to SELLER'S Closing.
All
obligations of SELLER under his Agreement, and as an inducement to SELLER to
enter into this Agreement, are subject to PURCHASER's covenants and agreements
to each of the following:
Β |
A.
|
Acceptance
of Documents. All instruments and documents delivered to SELLER pursuant
to this Agreement or reasonably requested by SELLER to verify the
representations and warranties of PURCHASER herein, shall be satisfactory
to SELLER and its legal counsel.
|
Β |
B.
|
Representations
and Warranties. The representations and warranties by PURCHASER set
forth
in this Agreement shall be true and correct at and as of the Closing
date,
with the same force and effect as though made at and as of the date
hereof, except for changes permitted or contemplated by this
Agreement.
|
Β |
C.
|
No
Breach or Default. PURCHASER shall have performed and complied with
all
covenants, agreements, and conditions required by this Agreement
to be
performed or complied with by it prior to or at the
Closing.
|
6.Β Β Β Β Β Termination.
This
Agreement may be terminated at any time prior to the date of Closing by either
party if (a) there shall be any actual or threatened action or proceeding by
or
before any court or any other governmental body which shall seek to restrain,
prohibit, or invalidate the transaction contemplated by this Agreement, and
which in the judgment of such party giving notice to terminate and based upon
the advice of legal counsel makes it inadvisable to proceed with the transaction
contemplated by this Agreement, or (b) if this Agreement has not been approved
and properly executed by the parties by March 31, 2007.
7.
|
Restrictive
Legend.
PURCHASER agrees that the Shares shall bear a restrictive legend
to the
effect that transfer is prohibited except in accordance with the
provisions of Regulation S, pursuant to registration under the Act,
or
pursuant to an available exemption from registration, and that hedging
transactions involving those securities may not be conducted unless
in
compliance with the Act.
|
8.Β Β Β Β Β ISSUER's
Obligation to Refuse Transfer.
Pursuant to Regulation S promulgated under the Act, SELLER hereby agrees to
cause ISSUER to refuse to register any transfer of the Shares not made in
accordance with the provisions of Regulation S, pursuant to registration
under the Act, or pursuant to an available exemption from
registration.
9.
|
Miscellaneous.
|
A.Β Β Β Β Β Valid
Execution. This Agreement has been validly executed.
Β |
B.
|
Notices.
Any notice under this Agreement shall be deemed to have been sufficiently
given if sent by registered or certified mail, postage prepaid, or
by
express mail service substantially equivalent to Federal Express,
addressed as follows:
|
To
PURCHASER:Β Β Β Β Β Β Teng,
Ze
Yong
Β 00-0
Xxxx Xxx
Xxxxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xxx
Xxxx Xxxxxxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xxx
Xxx, Xxxxx
To
SELLER:Β Β Β Β Β Β Β Β Β Xxxxx,
Xxxx Ping.
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β 0000
Xxxxxx Xxxxx, Xxxx Xxxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xxxxxxx
Xxxxxxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xxxxxx
X0X 0X0:
Β
C.Β Β Β Β Β Entire
Agreement. This Agreement constitutes the entire agreement among the parties
hereto with respect to the subject matter hereof and supersedes any and all
prior or contemporaneous representations, warranties, agreements and
understandings in connection therewith. This Agreement may be amended only
by a
writing executed by all parties hereto.
Β |
D.
|
Severability.
If a court of competent jurisdiction determines that any clause or
provision of this Agreement is invalid, illegal or unenforceable,
the
other clauses and provisions of the Agreement shall remain in full
force
and effect and the clauses and provisions which are determined to
be void,
illegal or unenforceable shall be limited so that they shall remain
in
effect to the extent permissible by
law.
|
Β |
E.
|
Assignment.
None of the parties hereto may assign this Agreement without the
express
written consent of the other parties and any approved assignment
shall be
binding on and inure to the benefit of such successor or, in the
event of
death or incapacity, on assignor's heirs, executors, administrators,
representatives, and successors.
|
Β |
F.
|
Applicable
Law. This Agreement has been negotiated and is being contracted for
in
Canda, Province of British Columbia.. It shall be governed by and
interpreted in accordance with the laws of Canada and the Province
of
British Columbia, regardless of any conflict-of-law provision to
the
contrary.
|
Β |
G.
|
Attorney's
Fees. If any legal action or other proceeding (including but not
limited
to binding arbitration) is brought for the enforcement of or to declare
any right or obligation under this Agreement or as a result of a
breach,
default or misrepresentation in connection with any of the provisions
of
this Agreement, or otherwise because of a dispute among the parties
hereto, the prevailing party will be entitled to recover actual attorney's
fees (including for appeals and collection and including the actual
cost
of in-house counsel, if any) and other expenses incurred in such
action or
proceeding, in addition to any other relief to which such party may
be
entitled.
|
Β |
H.
|
Counterparts
and Facsimile. This Agreement may be executed in any number of identical
counterparts (except as to signature only), each of which may be
deemed an
original for all purposes. A fax, telecopy or other reproduction
of this
instrument may be executed by one or more parties hereto and such
executed
copy may be delivered by facsimile or similar instantaneous electronic
transmission device pursuant to which the signature of or on behalf
of
such party can be discerned as legible, and such execution and delivery
shall be considered valid, binding and effective for all
purposes.
|
IN
WITNESS WHEREOF, the parties have execute this agreement below.
Β Β Β Β Β Β
Β (In His Individual Capacity) | Β | Β | Β (In His Individual Capacity) |
/s/Β Teng, Ze Yong | Β | Β | /s/Β Xxxxx, Xxxx Ping |
|
Β | Β |
|
Name:
TENG, ZE
YONG Title More Title |
Β | Β | Name:
XXXXX,
XXXX PING Title More Title |
Β
Β
EXHIBIT
"A"
PURCHASER
REPRESENTATIONS LETTER
Xxxxx,
Xxxx Ping
0000
Xxxxxx Xxxxx, Xxxx Xxxxx, Xxxxxxx Xxxxxxxx
Xxxxxx
X0X 0X0
Dear
Sir:
The
undersigned, Teng, Ze Yong, intends to purchase One Million (1,000,000) shares
(the βSharesβ) of common stock of Greater China Media and Entertainment Corp.
(the βCompanyβ) from you in a transaction that is exempt from registration under
the United States Securities Act of 1933, as amended (the βSecurities Actβ).
The
undersigned represents and warrants as follows:
(1)Β The
offer
to purchase the Shares was made to him outside of the United States, while
the
undersigned was, and is now, outside the United States;
(2)Β The
undersigned is not a U.S. Person (as such term is defined in Section 902(a)
of
Regulation S ("Regulation S") promulgated under the Securities Act; and he
is
purchasing the Shares for his own account and not for the account or benefit
of
any U.S. person;
(3)Β All
offers and sales by the undersigned of the Shares shall be made pursuant to
an
effective registration statement under the Securities Act or pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act;
(4)Β The
undersigned is familiar with and understands the terms and conditions and
requirements contained in Regulation S;
(5)Β The
undersigned has not engaged in any "directed selling efforts" (as such term
is
defined in Regulation S) with respect to the Shares; and
(6)Β The
undersigned is purchasing the Shares with investment intent and at present
does
not have the intent to sell, dispose of, or otherwise transfer, the
Shares.
Dated
this 30 day of January, 2007
Β | Β | Β |
Β | Β | |
Β Β |
Β Β |
Β Β |
Date:Β January 30, 2007 | By:Β Β | /s/Β Teng, Ze XxxxΒ Β Β Β |
Β |
Xxxx, Ze Xxxx |
|
Β | TitleΒ |
Β
Exhibit
10.6
These
securities have not been registered with the United States Securities and
Exchange Commission or the securities commission of any state because they
are
believed to be exempt from registration under Regulation D and/or Regulation
S
promulgated under the Securities Act of 1933, as amended (the βActβ). The
foregoing authorities have not confirmed the accuracy or determined the adequacy
of this document. Any representation to the contrary is a criminal offense.
This
subscription agreement shall not constitute an offer to sell nor a solicitation
of an offer to buy the securities in any jurisdiction in which such offer or
solicitation would be unlawful.
These
securities are subject to restrictions on transferability and resale and may
not
be transferred or resold except as permitted under the Act, an applicable state
securities laws, pursuant to registration or exemption therefrom. Investors
should be aware that they will be required to bear the financial risks of this
investment for an indefinite period of time. All offers and sales of the
herein-described securities by non-U.S. persons before the expiration of a
period commencing on the date of the closing of this offering and ending one
year thereafter shall only be made in compliance with Regulation S, pursuant
to
registration under the Act, or pursuant to an exemption from registration,
and
all offers and sales after the expiration of the one-year period shall be made
only pursuant to registration or an exemption from registration. Hedging
transactions involving these securities may not be conducted unless in
compliance with the Act.
OFFSHORE
STOCK PURCHASE AGREEMENT
This
Offshore Stock Purchase Agreement (the βAgreementβ) is entered into this 30 day
of January, 2007 (the βEffective Dateβ), by and between XXXXX, XXXX PING, a
citizen and resident of Vancouver, British Columbia, Canada (βSELLERβ) and XXXX,
XX, a citizen and resident of the Peopleβs Republic of China (βPURCHASERβ), with
respect to shares of common stock of GREATER CHINA MEDIA AND ENTERTAINMENT
CORP., a Nevada corporation (βISSUERβ).
WHEREAS,
PURCHASER desires to purchase One Million (1,000,000) shares of restricted
common stock of ISSUER (the βSharesβ); and
WHEREAS,
SELLER agrees to deliver the Shares for the Consideration (as defined below)
to
be paid by PURCHASER, subject to the terms and conditions set forth
below.
NOW,
THEREFORE, for and in consideration of the mutual promises herein, and for
other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:
1.Β Β Β Β Β Purchase
and Sale.
On the
basis of the representations and warranties herein contained, subject to the
terms and conditions set forth herein, PURCHASER hereby agrees to purchase
the
Shares at a purchase price of US$.001 per share, for a total aggregate purchase
price of $1,000 (the βConsiderationβ), and SELLER hereby agrees to sell the
Shares to PURCHASER for such Consideration.
2.Β Β Β Β
Closing.
The
closing of the purchase and sale contemplated by this Agreement (the βClosingβ)
shall occur upon the transfer of the Consideration to the SELLER by PURCHASER
by
check or wire transfer of funds. SELLER shall cause ISSUER to deliver the Shares
to PURCHASER within 14 days of receiving full payment under this
Agreement.
A.Β Β Β Β Β Transactions
and Document Exchange at Closing. Prior to or at the Closing, the following
transactions shall occur and documents shall be exchanged, all of which shall
be
deemed to occur simultaneously:
Β | Β | Β |
Β Β Β Β Β
(1)Β by
PURCHASER:
PURCHASER shall deliver, or cause to be delivered, to SELLER: (a) the balance
of
the Consideration (if any); and (b) such other documents, instruments, and/or
certificates, if any, as are required to be delivered pursuant to the provisions
of this Agreement, or which are reasonably determined by the parties to be
required to effectuate the transactions contemplated in this Agreement, or
as
otherwise may be reasonably requested by SELLER in furtherance of the intent
of
this Agreement;
Β | Β |
(2)
by
SELLER:
SELLER shall deliver, or cause the ISSUER to make the following to
be
delivered, to PURCHASER: (a) the Shares; and (b) such other documents,
instruments, and/or certificates, if any, as are required to be delivered
pursuant to the provisions of this Agreement, or which are reasonably
determined by the parties to be required to effectuate the transactions
contemplated in this Agreement, or as otherwise may be reasonably
requested by PURCHASER in furtherance of the intent of this
Agreement.
|
B.Β Β Β Β Β Post-Closing
Documents. From time to time after the Closing, upon the reasonable request
of
any party, the party to whom the request is made shall deliver such other and
further documents, instruments, and/or certificates as may be necessary to
more
fully vest in the requesting party the Consideration or the Shares as provided
for in this Agreement, or to enable the requesting party to obtain the rights
and benefits contemplated by this Agreement.
3.Β Β Β Β Β Private
Offering.
PURCHASER and SELLER both understand and agree that the purchase and sale of
securities contemplated herein constitutes a private, arms-length transaction
between a willing seller and willing buyer without the use or reliance upon
a
broker, distributor or securities underwriter.
A.Β Β Β Β Β Purchase
for
Investment. Neither PURCHASER nor SELLER are underwriters of, or dealers in,
the
securities to be sold and exchanged hereunder.
B.Β Β Β Β Β Investment
Risk. Because of ISSUER's financial position and other factors as disclosed
in
ISSUER's publicly filed reports with the SEC, the transaction contemplated
by
this Agreement may involve a high degree of financial risk, including the risk
that one or both parties may lose its entire investment, and both parties hereby
agree that they have each undertaken an independent evaluation of the risks
associated with the Shares, and both parties understand those risks and are
willing to accept the risk that they may be to bear the financial risks of
this
investment for an indefinite period of time.
C.Β Β Β Β Β Access
to
Information. PURCHASER and ISSUER and their advisors have been afforded the
opportunity to discuss the transaction with legal and accounting professionals
and to examine and evaluate the financial impact of the sale and exchange
contemplated herein. PURCHASER has received and reviewed ISSUER's most recent
Form 10-KSB as amended, and quarterly reports on Form 10-QSB for the most recent
two quarters, all as filed with the SEC. PURCHASER acknowledges that it has
been
furnished with the information required to conform with the provisions of
subparagraph (a)(5) of Rule 15c2-11 of the Securities and Exchange Commission.
4.Β Β Β Β Β Representations
and Warranties of PURCHASER:
PURCHASER hereby covenants and represents and warrants to SELLER
that:
A.Β Β Β Β Β Organization.
PURCHASER is a citizen and resident of the People's Republic of China. The
execution and delivery of this Agreement and the consummation of the transaction
contemplated in this Agreement have been, or will be prior to Closing, duly
undertaken on the part of the PURCHASER. This Agreement has been duly executed
and delivered by PURCHASER and constitutes a binding and enforceable obligation
of PURCHASER.
Β |
B.
|
Third
Party Consent. No authorization, consent, or approval of, or registration
or filing with, any governmental authority or any other person is
required
to be obtained or made by PURCHASER in connection with the execution,
delivery, or performance of this Agreement or the transfer of the
Shares,
or if any such is required, PURCHASER will have or will obtain the
same
prior to Closing.
|
Β |
C.
|
Litigation.
PURCHASER is not a defendant against whom a claim has been made or
a
judgment rendered in any litigation or proceedings before any local,
state, or federal government, including but not limited to the United
States, or any department, board, body, or agency
thereof.
|
Β |
D.
|
Authority.
This Agreement has been duly executed by PURCHASER, and the execution
and
performance of this Agreement will not violate, or result in a breach
of,
or constitute a default in, any agreement, instrument, judgment,
order, or
decree to which PURCHASER is a party or to which the Consideration
is
subject.
|
Β |
E.
|
Offshore
Transaction. PURCHASER represents and warrants to SELLER as follows:
(i)
PURCHASER is not a βU.S. personβ as that term is defined in Rule 902 of
Regulation S; (ii) PURCHASER is not, and on the Closing date will
not be,
an affiliate of ISSUER; (iii) at the execution of this Agreement,
as well
as the time this transaction is or was due, PURCHASER was outside
the
United States, and no offer to purchase the Shares was made in the
United
States; (iv) PURCHASER agrees that offers and sales of the Shares
shall
not be made to U.S. persons unless the Shares are registered or a
valid
exemption from registration can be relied on under applicable U.S.
state
and federal securities laws; (v) PURCHASER is not a distributor or
dealer;
(vi) the transactions contemplated hereby have not been and will
not be
made on behalf of any U.S. person or pre-arranged by PURCHASER with
a
purchaser located in the United States or a purchaser which is a
U.S.
person, and such transactions are not and will not be part of a plan
or
scheme to evade the registration provisions of the Act; (vii)all
offering
documents received by PURCHASER include statements to the effect
that the
Shares have not been registered under the Securities Act of 1933
and may
not be offered or sold in the United States or to U.S. Persons (other
than
distributors as defined in Regulation S) during the Restricted Period
unless the Shares are registered under the Securities Act of 1933
or an
exemption from registration is
available.
|
The
foregoing representations and warranties are true and accurate as of the date
hereof, shall be true and accurate as of the date of the acceptance by SELLER
of
PURCHASERβs purchase, and shall survive thereafter. If PURCHASER has knowledge,
prior to the acceptance of this Offshore Stock Purchase Agreement by SELLER,
that any such representations and warranties shall not be true and accurate
in
any respect, PURCHASER prior to such acceptance, will give written notice of
such fact to SELLER specifying which representations and warranties are not
true
and accurate and the reasons therefor.
PURCHASER
agrees to fully indemnify, defend and hold harmless SELLER, his agents and
attorneys from and against any and all losses, claims, damages, liabilities
and
expenses, including reasonable attorney's fees and expenses, which may result
from a breach of PURCHASERβs representations, warranties and agreements
contained herein.
Β |
F.
|
Accredited
Investor. PURCHASER is an accredited investor as that term is defined
in
Rule 501(a) of Regulation D promulgated under the Act. PURCHASER
further
represents and warrants that the information as disclosed in βExhibit Aβ
attached hereto is true and
correct.
|
Β |
G.
|
Beneficial
Owner. PURCHASER is purchasing stock for its own account or for the
account of beneficiaries for whom PURCHASER has full investment discretion
with respect to stock and whom PURCHASER has full authority to bind,
so
that each such beneficiary is bound hereby as if such beneficiary
were a
direct signatory hereunder, and all representations, warranties and
agreements herein were made directly by such
beneficiary.
|
Β |
H.
|
Directed
Selling Efforts. PURCHASER will not engage in any activity for the
purpose
of, or that could reasonably be expected to have the effect of,
conditioning the market in the United States for any of the Shares
sold
hereunder. To the best of its knowledge, neither PURCHASER nor any
person
acting for PURCHASER has conducted any βdirected selling effortsβ as that
term is defined in Rule 902 of Regulation S.
|
Β |
I.
|
Independent
Investigation; Access. PURCHASER, in electing to purchase the Shares
herein, has relied solely upon independent investigation made by
it and
its representatives. PURCHASER has been given no oral or written
representation or warranty from ISSUER other than as set forth in
this
Agreement. PURCHASER and its representatives, if any, have, prior
to any
sale to it, been given access and the opportunity to examine all
material
books and records of ISSUER, all material contracts and documents
relating
to ISSUER and this offering and an opportunity to ask questions of,
and to
receive answers from, ISSUER or any officer of ISSUER acting on its
behalf
concerning ISSUER and the terms and conditions of this offering.
PURCHASER
and its advisors, if any, have been furnished with access to all
publicly
available materials relating to the business, finances and operations
of
ISSUER and materials relating to the offer and sale of the Shares
which
have been requested. PURCHASER and its advisors, if any, have received
complete and satisfactory answers to any such
inquiries.
|
Β |
J.
|
No
Government Recommendation or Approval. PURCHASER understands that
no
United States federal or state agency, or similar agency of any other
country, has passed upon or made any recommendation or endorsement
of the
Shares, or this transaction.
|
K.Β Β Β Β Β No
Formation
or Membership in βGroup.β PURCHASER is not part of a βgroupβ as that term is
defined under the Act. PURCHASER is not, and does not intend to become, included
with
two
or more persons acting as a partnership, syndicate, or other group for the
purpose of acquiring, holding or disposing of securities of the
Company.
L.Β Β Β Β Β Hedging
Transactions. PURCHASER hereby agrees not to engage in any hedging transactions
involving the securities described herein unless in compliance with the Act
and
Regulation S promulgated thereunder.
5.Β Β Β Β Β Conditions
Precedent to SELLER'S Closing.
All
obligations of SELLER under his Agreement, and as an inducement to SELLER to
enter into this Agreement, are subject to PURCHASER's covenants and agreements
to each of the following:
Β |
A.
|
Acceptance
of Documents. All instruments and documents delivered to SELLER pursuant
to this Agreement or reasonably requested by SELLER to verify the
representations and warranties of PURCHASER herein, shall be satisfactory
to SELLER and its legal counsel.
|
B.Β Β Β Β Β Representations
and
Warranties. The representations and warranties by PURCHASER set forth in this
Agreement shall be true and correct at and as of the Closing date, with the
same
force and effect as though made at and as of the date hereof, except for changes
permitted or contemplated by this Agreement.
Β |
C.
|
No
Breach or Default. PURCHASER shall have performed and complied with
all
covenants, agreements, and conditions required by this Agreement
to be
performed or complied with by it prior to or at the
Closing.
|
6.Β Β Β Β Β Termination.
This
Agreement may be terminated at any time prior to the date of Closing by either
party if (a) there shall be any actual or threatened action or proceeding by
or
before any court or any other governmental body which shall seek to restrain,
prohibit, or invalidate the transaction contemplated by this Agreement, and
which in the judgment of such party giving notice to terminate and based upon
the advice of legal counsel makes it inadvisable to proceed with the transaction
contemplated by this Agreement, or (b) if this Agreement has not been approved
and properly executed by the parties by March 31, 2007.
7.
|
Restrictive
Legend.
PURCHASER agrees that the Shares shall bear a restrictive legend
to the
effect that transfer is prohibited except in accordance with the
provisions of Regulation S, pursuant to registration under the Act,
or
pursuant to an available exemption from registration, and that hedging
transactions involving those securities may not be conducted unless
in
compliance with the Act.
|
8.
|
ISSUER's
Obligation to Refuse Transfer.
Pursuant to Regulation S promulgated under the Act, SELLER hereby
agrees
to cause ISSUER to refuse to register any transfer of the Shares
not made
in accordance with the provisions of Regulation S, pursuant to registration
under the Act, or pursuant to an available exemption from
registration.
|
9.
|
Miscellaneous.
|
A.
Valid
Execution. This Agreement has been validly executed.
B.
Notices. Any notice under this Agreement shall be deemed to have been
sufficiently given if sent by registered or certified mail, postage prepaid,
or
by express mail service substantially equivalent to Federal Express, addressed
as follows:
To
PURCHASER:Β Β Β Β Β Β Xxxx,
Xx
Β 29-748
Feng Hui Road, Xxxx Xx District
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β
XiβAn,
China
Β
To
SELLER: Β Β Β
Xxxxx,
Xxxx Ping.
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β 0000
Xxxxxx Xxxxx,
Xxxx Xxxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xxxxxxx
Xxxxxxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xxxxxx
X0X 0X0
Β
Β |
C.
|
Entire
Agreement. This Agreement constitutes the entire agreement among
the
parties hereto with respect to the subject matter hereof and supersedes
any and all prior or contemporaneous representations, warranties,
agreements and understandings in connection therewith. This Agreement
may
be amended only by a writing executed by all parties
hereto.
|
Β |
D.
|
Severability.
If a court of competent jurisdiction determines that any clause or
provision of this Agreement is invalid, illegal or unenforceable,
the
other clauses and provisions of the Agreement shall remain in full
force
and effect and the clauses and provisions which are determined to
be void,
illegal or unenforceable shall be limited so that they shall remain
in
effect to the extent permissible by
law.
|
Β |
E.
|
Assignment.
None of the parties hereto may assign this Agreement without the
express
written consent of the other parties and any approved assignment
shall be
binding on and inure to the benefit of such successor or, in the
event of
death or incapacity, on assignor's heirs, executors, administrators,
representatives, and successors.
|
Β |
F.
|
Applicable
Law. This Agreement has been negotiated and is being contracted for
in
Canda, Province of British Columbia.. It shall be governed by and
interpreted in accordance with the laws of Canada and the Province
of
British Columbia, regardless of any conflict-of-law provision to
the
contrary.
|
Β |
G.
|
Attorney's
Fees. If any legal action or other proceeding (including but not
limited
to binding arbitration) is brought for the enforcement of or to declare
any right or obligation under this Agreement or as a result of a
breach,
default or misrepresentation in connection with any of the provisions
of
this Agreement, or otherwise because of a dispute among the parties
hereto, the prevailing party will be entitled to recover actual attorney's
fees (including for appeals and collection and including the actual
cost
of in-house counsel, if any) and other expenses incurred in such
action or
proceeding, in addition to any other relief to which such party may
be
entitled.
|
Β |
H.
|
Counterparts
and Facsimile. This Agreement may be executed in any number of identical
counterparts (except as to signature only), each of which may be
deemed an
original for all purposes. A fax, telecopy or other reproduction
of this
instrument may be executed by one or more parties hereto and such
executed
copy may be delivered by facsimile or similar instantaneous electronic
transmission device pursuant to which the signature of or on behalf
of
such party can be discerned as legible, and such execution and delivery
shall be considered valid, binding and effective for all
purposes.
|
IN
WITNESS WHEREOF, the parties have execute this agreement below.
Β Β Β Β Β
Β
Β (In His Individual Capacity) | Β | Β | Β (In His Individual Capacity) |
/s/Β Xxxx, Xx | Β | Β | /s/Β Xxxxx, Xxxx Ping |
|
Β | Β |
|
Name:
XXXX, XX
Title More Title |
Β | Β | Name:
XXXXX, XXXX
PING Title More Title |
Β
Β
Β
EXHIBIT
"A"
PURCHASER
REPRESENTATIONS LETTER
Xxxxx,
Xxxx Ping
0000
Xxxxxx Xxxxx, Xxxx Xxxxx, Xxxxxxx Xxxxxxxx
Xxxxxx
X0X 0X0
Dear
Sir:
The
undersigned, Xxxx, Xx, intends to purchase One Million (1,000,000) shares (the
βSharesβ) of common stock of Greater China Media and Entertainment Corp. (the
βCompanyβ) from you in a transaction that is exempt from registration under the
United States Securities Act of 1933, as amended (the βSecurities Actβ).
The
undersigned represents and warrants as follows:
(1)Β The
offer
to purchase the Shares was made to him outside of the United States, while
the
undersigned was, and is now, outside the United States;
(2)Β The
undersigned is not a U.S. Person (as such term is defined in Section 902(a)
of
Regulation S ("Regulation S") promulgated under the Securities Act; and he
is
purchasing the Shares for his own account and not for the account or benefit
of
any U.S. person;
(3)Β All
offers and sales by the undersigned of the Shares shall be made pursuant to
an
effective registration statement under the Securities Act or pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act;
(4)Β The
undersigned is familiar with and understands the terms and conditions and
requirements contained in Regulation S;
(5)Β The
undersigned has not engaged in any "directed selling efforts" (as such term
is
defined in Regulation S) with respect to the Shares; and
(6)Β The
undersigned is purchasing the Shares with investment intent and at present
does
not have the intent to sell, dispose of, or otherwise transfer, the
Shares.
Β
Β | Β | Β |
Β | Β | |
Β Β |
Β Β |
Β Β |
Date:Β January 30, 2007 | By:Β Β | /s/Β Wang, Xx |
Β |
Xxxx, He |
|
Β | TitleΒ |
Exhibit
10.7
These
securities have not been registered with the United States Securities and
Exchange Commission or the securities commission of any state because they
are
believed to be exempt from registration under Regulation D and/or Regulation
S
promulgated under the Securities Act of 1933, as amended (the βActβ). The
foregoing authorities have not confirmed the accuracy or determined the adequacy
of this document. Any representation to the contrary is a criminal offense.
This
subscription agreement shall not constitute an offer to sell nor a solicitation
of an offer to buy the securities in any jurisdiction in which such offer or
solicitation would be unlawful.
These
securities are subject to restrictions on transferability and resale and may
not
be transferred or resold except as permitted under the Act, an applicable state
securities laws, pursuant to registration or exemption therefrom. Investors
should be aware that they will be required to bear the financial risks of this
investment for an indefinite period of time. All offers and sales of the
herein-described securities by non-U.S. persons before the expiration of a
period commencing on the date of the closing of this offering and ending one
year thereafter shalll only be made in compliance with Regulation S, pursuant
to
registration under the Act, or pursuant to an exemption from registration,
and
all offers and sales after the expiration of the one-year period shall be made
only pursuant to registration or an exemption from registration. Hedging
transactions involving these securities may not be conducted unless in
compliance with the Act.
OFFSHORE
STOCK PURCHASE AGREEMENT
This
Offshore Stock Purchase Agreement (the βAgreementβ) is entered into this 30 day
of January, 2007 (the βEffective Date?, by and between XXXXX, XXXX PING, a
citizen and resident of Vancouver, British Columbia, Canada (βSELLERβ) and XU,
CHAO, a citizen and resident of the Peopleβs Republic of China (βPURCHASERβ),
with respect to shares of common stock of GREATER CHINA MEDIA AND ENTERTAINMENT
CORP., a Nevada corporation (βISSUERβ).
WHEREAS,
PURCHASER desires to purchase One Million (1,000,000) shares of restricted
common stock of ISSUER (the βSharesβ); and
WHEREAS,
SELLER agrees to deliver the Shares for the Consideration (as defined below)
to
be paid by PURCHASER, subject to the terms and conditions set forth
below.
NOW,
THEREFORE, for and in consideration of the mutual promises herein, and for
other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:
1.Β Β Β Β
Purchase
and Sale.
On the
basis of the representations and warranties
herein contained, subject to the terms and conditions set forth herein,
PURCHASER hereby agrees to purchase the Shares at a purchase price of US$.001
per share, for a total aggregate purchase price of $1,000 (the βConsiderationβ),
and SELLER hereby agrees to sell the Shares to PURCHASER for such
Consideration.
Β
2.Β Β Β Β Β Closing.
The
closing of the purchase and sale contemplated by this Agreement (the βClosingβ)
shall occur upon the transfer of the Consideration to the SELLER by PURCHASER
by
check or wire transfer of funds. SELLER shall cause ISSUER to deliver the Shares
to PURCHASER within 14 days of receiving full payment under this
Agreement.
Β |
A.
|
Transactions
and Document Exchange at Closing. Prior to or at the Closing, the
following transactions shall occur and documents shall be exchanged,
all
of which shall be deemed to occur simultaneously:
|
Β | Β | Β |
Β Β Β Β Β
(1)
by
PURCHASER:
PURCHASER shall deliver, or cause to be delivered, to SELLER: (a) the balance
of
the Consideration (if any); and (b) such other documents, instruments, and/or
certificates, if any, as are required to be delivered pursuant to the provisions
of this Agreement, or which are reasonably determined by the parties to be
required to effectuate the transactions contemplated in this Agreement, or
as
otherwise may be reasonably requested by SELLER in furtherance of the intent
of
this Agreement;
Β | Β |
(2)
by
SELLER:
SELLER shall deliver, or cause the ISSUER to make the following to
be
delivered, to PURCHASER: (a) the Shares; and (b) such other documents,
instruments, and/or certificates, if any, as are required to be delivered
pursuant to the provisions of this Agreement, or which are reasonably
determined by the parties to be required to effectuate the transactions
contemplated in this Agreement, or as otherwise may be reasonably
requested by PURCHASER in furtherance of the intent of this
Agreement.
|
Β |
B.
|
Post-Closing
Documents. From time to time after the Closing, upon the reasonable
request of any party, the party to whom the request is made shall
deliver
such other and further documents, instruments, and/or certificates
as may
be necessary to more fully vest in the requesting party the Consideration
or the Shares as provided for in this Agreement, or to enable the
requesting party to obtain the rights and benefits contemplated by
this
Agreement.
|
3.Β Β Β Β Β Private
Offering.
PURCHASER and SELLER both understand and agree that the purchase and sale of
securities contemplated herein constitutes a private, arms-length transaction
between a willing seller and willing buyer without the use or reliance upon
a
broker, distributor or securities underwriter.
Β |
A.
|
Purchase
for Investment. Neither PURCHASER nor SELLER are underwriters
of, or dealers in, the securities to be sold and exchanged
hereunder.
|
Β |
B.
|
Investment
Risk. Because of ISSUER's financial position and other factors as
disclosed in ISSUER's publicly filed reports with the SEC, the transaction
contemplated by this Agreement may involve a high degree of financial
risk, including the risk that one or both parties may lose its entire
investment, and both parties hereby agree that they have each undertaken
an independent evaluation of the risks associated with the Shares,
and
both parties understand those risks and are willing to accept the
risk
that they may be to bear the financial risks of this investment for
an
indefinite period of time.
|
Β |
C.
|
Access
to Information. PURCHASER and ISSUER and their advisors have been
afforded
the opportunity to discuss the transaction with legal and accounting
professionals and to examine and evaluate the financial impact of
the sale
and exchange contemplated herein. PURCHASER has received and reviewed
ISSUER's most recent Form 10-KSB as amended, and quarterly reports
on Form
10-QSB for the most recent two quarters, all as filed with the SEC.
PURCHASER acknowledges that it has been furnished with the information
required to conform with the provisions of subparagraph (a)(5) of
Rule
15c2-11 of the Securities and Exchange Commission.
|
4.Β Β Β Β Β Representations
and Warranties of PURCHASER:
PURCHASER hereby covenants and represents and warrants to SELLER
that:
A.Β Β Β Β Β Organization.
PURCHASER is a citizen and resident of the People's Republic of China. The
execution and delivery of this Agreement and the consummation of the transaction
contemplated in this Agreement have been, or will be prior to Closing, duly
undertaken on the part of the PURCHASER. This Agreement has been duly executed
and delivered by PURCHASER and constitutes a binding and enforceable obligation
of PURCHASER.
Β |
B.
|
Third
Party Consent. No authorization, consent, or approval of, or registration
or filing with, any governmental authority or any other person is
required
to be obtained or made by PURCHASER in connection with the execution,
delivery, or performance of this Agreement or the transfer of the
Shares,
or if any such is required, PURCHASER will have or will obtain the
same
prior to Closing.
|
Β |
C.
|
Litigation.
PURCHASER is not a defendant against whom a claim has been made or
a
judgment rendered in any litigation or proceedings before any local,
state, or federal government, including but not limited to the United
States, or any department, board, body, or agency
thereof.
|
Β |
D.
|
Authority.
This Agreement has been duly executed by PURCHASER, and the execution
and
performance of this Agreement
will not violate, or result in a breach of, or constitute a default
in,
any agreement, instrument, judgment, order, or decree to which PURCHASER
is a party or to which the Consideration is
subject.
|
Β |
E.
|
Offshore
Transaction. PURCHASER represents and warrants to SELLER as follows:
(i)
PURCHASER is not a βU.S. personβ as that term is defined in Rule 902 of
Regulation S; (ii) PURCHASER is not, and on the Closing date will
not be,
an affiliate of ISSUER; (iii) at the execution of this Agreement,
as well
as the time this transaction is or was due, PURCHASER was outside
the
United States, and no offer to purchase the Shares was made in the
United
States; (iv) PURCHASER agrees that offers and sales of the Shares
shall
not be made to U.S. persons unless the Shares are registered or a
valid
exemption from registration can be relied on under applicable U.S.
state
and federal securities laws; (v) PURCHASER is not a distributor or
dealer;
(vi) the transactions contemplated hereby have not been and will
not be
made on behalf of any U.S. person or pre-arranged by PURCHASER with
a
purchaser located in the United States or a purchaser which is a
U.S.
person, and such transactions are not and will not be part of a plan
or
scheme to evade the registration provisions of the Act; (vii)all
offering
documents received by PURCHASER include statements to the effect
that the
Shares have not been registered under the Securities Act of 1933
and may
not be offered or sold in the United States or to U.S. Persons (other
than
distributors as defined in Regulation S) during the Restricted Period
unless the Shares are registered under the Securities Act of 1933
or an
exemption from registration is
available.
|
The
foregoing representations and warranties are true and accurate as of the date
hereof, shall be true and accurate as of the date of the acceptance by SELLER
of
PURCHASERβs purchase, and shall survive thereafter. If PURCHASER has knowledge,
prior to the acceptance of this Offshore Stock Purchase Agreement by SELLER,
that any such representations and warranties shall not be true and accurate
in
any respect, PURCHASER prior to such acceptance, will give written notice of
such fact to SELLER specifying which representations and warranties are not
true
and accurate and the reasons therefor.
PURCHASER
agrees to fully indemnify, defend and hold harmless SELLER, his agents and
attorneys from and against any and all losses, claims, damages, liabilities
and
expenses, including reasonable attorney's fees and expenses, which may result
from a breach of PURCHASERβs representations, warranties and agreements
contained herein.
Β |
F.
|
Accredited
Investor. PURCHASER is an accredited investor as that term is defined
in
Rule 501(a) of Regulation D promulgated under the Act. PURCHASER
further
represents and warrants that the information as disclosed in βExhibit
Aβattached
hereto is true and
correct.
|
Β |
G.
|
Beneficial
Owner. PURCHASER is purchasing stock for its own account or for the
account of beneficiaries for whom PURCHASER has full investment discretion
with respect to stock and whom PURCHASER has full authority to bind,
so
that each such beneficiary is bound hereby as if such beneficiary
were a
direct signatory hereunder, and all representations, warranties and
agreements herein were made directly by such
beneficiary.
|
Β |
H.
|
Directed
Selling Efforts. PURCHASER will not engage in any activity for the
purpose
of, or that could reasonably be expected to have the effect of,
conditioning the market in the United States for any of the Shares
sold
hereunder. To the best of its knowledge, neither PURCHASER nor any
person
acting for PURCHASER has conducted any βdirected selling effortsβ as that
term is defined in Rule 902 of Regulation S.
|
Β |
I.
|
Independent
Investigation; Access. PURCHASER, in electing to purchase the Shares
herein, has relied solely upon independent investigation made by
it and
its representatives. PURCHASER has been given no oral or written
representation or warranty from ISSUER other than as set forth in
this
Agreement. PURCHASER and its representatives, if any, have, prior
to any
sale to it, been given access and the opportunity to examine all
material
books and records of ISSUER, all material contracts and documents
relating
to ISSUER and this offering and an opportunity to ask questions of,
and to
receive answers from, ISSUER or any officer of ISSUER acting on its
behalf
concerning ISSUER and the terms and conditions of this offering.
PURCHASER
and its advisors, if any, have been furnished with access to all
publicly
available materials relating to the business, finances and operations
of
ISSUER and materials relating to the offer and sale of the Shares
which
have been requested. PURCHASER and its advisors, if any, have received
complete and satisfactory answers to any such
inquiries.
|
Β |
J.
|
No
Government Recommendation or Approval. PURCHASER understands that
no
United States federal or state agency, or similar agency of any other
country, has passed upon or made any recommendation or endorsement
of the
Shares, or this transaction.
|
Β |
K.
|
No
Formation or Membership in βGroup.β PURCHASER is not part of a βgroupβ as
that term is defined under the Act. PURCHASER is not, and does not
intend
to become, included with two or more persons acting as a partnership,
syndicate, or other group for the purpose of acquiring, holding or
disposing of securities of the
Company.
|
L.Β Β Β Β Β Hedging
Transactions. PURCHASER hereby agrees not to engage in
any
hedging transactions involving the securities described herein unless in
compliance with the Act and Regulation S promulgated
thereunder.
5.Β Β Β Β Β Conditions
Precedent to SELLERβS Closing.
All
obligations of SELLER under his Agreement, and as an inducement to SELLER to
enter into this Agreement, are subject to PURCHASERβs covenants and agreements
to each of the following:
A.Β Β Β Β Β Acceptance
of
Documents. All instruments and documents delivered to SELLER pursuant to this
Agreement or reasonably requested by SELLER to verify the representations and
warranties of PURCHASER herein, shall be satisfactory to SELLER and its legal
counsel.
Β |
B.
|
Representations
and Warranties. The representations and warranties by PURCHASER set
forth
in this Agreement shall be true and correct at and as of the Closing
date,
with the same force and effect as though made at and as of the date
hereof, except for changes permitted or contemplated by this
Agreement.
|
Β |
C.
|
No
Breach or Default. PURCHASER shall have performed and complied with
all
covenants, agreements, and conditions required by this Agreement
to be
performed or complied with by it prior to or at the
Closing.
|
6.Β Β Β Β Β Termination.
This
Agreement may be terminated at any time prior to the date of Closing by either
party if (a) there shall be any actual or threatened action or proceeding by
or
before any court or any other governmental body which shall seek to restrain,
prohibit, or invalidate the transaction contemplated by this Agreement, and
which in the judgment of such party giving notice to terminate and based upon
the advice of legal counsel makes it inadvisable to proceed with the transaction
contemplated by this Agreement, or (b) if this Agreement has not been approved
and properly executed by the parties by March 31, 2007.
7.
|
Restrictive
Legend.
PURCHASER agrees that the Shares shall bear a restrictive legend
to the
effect that transfer is prohibited except in accordance with the
provisions of Regulation S, pursuant to registration under the Act,
or
pursuant to an available exemption from registration, and that hedging
transactions involving those securities may not be conducted unless
in
compliance with the Act.
|
8.
|
ISSUERβs
Obligation to Refuse Transfer.
Pursuant to Regulation S promulgated under the Act, SELLER hereby
agrees
to cause ISSUER to refuse to register any transfer of the Shares
not made
in accordance with the provisions of Regulation S, pursuant to
registration under the Act, or pursuant to an available exemption
from
registration.
|
9.
|
Miscellaneous.
|
A.Β Β Β Β Β Valid
Execution. This Agreement has been validly executed.
Β |
B.
|
Notices.
Any notice under this Agreement shall be deemed to have been sufficiently
given if sent by registered or certified mail, postage prepaid, or
by
express mail service substantially equivalent to Federal Express,
addressed as follows:
|
To
PURCHASER:Β Β Β Β Β Β Xu,
Chao
#5,
Xxxx
Xxxx Xxxxxxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β 000
Xxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β XxxXxxx,
Xxxxxxxxxxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xxxxx
To
SELLER:Β Β Β Β Β Β Β Β Β Xxxxx,
Xxxx Ping.
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β 0000
Xxxxxx Xxxxx,
Xxxx Xxxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xxxxxxx
Xxxxxxxx
Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Β Xxxxxx
X0X 0X0:
Β
C.Β Β Β Β
Entire
Agreement. This Agreement constitutes the entire agreement among the parties
hereto with respect to the subject matter hereof and supersedes any and all
prior or contemporaneous representations, warranties, agreements and
understandings in connection therewith. This Agreement may be amended only
by a
writing executed by all parties hereto.
D.Β Β Β Β Β Severability.
If a court of competent jurisdiction determines that any clause or provision
of
this Agreement is invalid, illegal or unenforceable, the other clauses and
provisions of the Agreement shall remain in full force and effect and the
clauses and provisions which are determined to be void, illegal or unenforceable
shall be limited so that they shall remain in effect to the extent permissible
by law.
E.Β Β Β Β Β Assignment.
None of the parties hereto may assign this Agreement without the express written
consent of the other parties and any approved assignment shall be binding on
and
inure to the benefit of such successor or, in the event of death or incapacity,
on assignor's heirs, executors, administrators, representatives, and
successors.
Β |
F.
|
Applicable
Law. This Agreement has been negotiated and is being contracted for
in
Canda, Province of British Columbia.. It shall be governed by and
interpreted in accordance with the laws of Canada and the Province
of
British Columbia, regardless of any conflict-of-law provision to
the
contrary.
|
G.Β Β Β Β Β Attorney's
Fees. If any legal action or other proceeding (including but not limited to
binding arbitration) is brought for the enforcement of or to declare any right
or obligation
under this Agreement or as a result of a breach, default or misrepresentation
in
connection with any of the provisions of this Agreement, or otherwise because
of
a dispute among the parties hereto, the prevailing party will be entitled to
recover actual attorney's fees (including for appeals and collection and
including the actual cost of in-house counsel, if any) and other expenses
incurred in such action or proceeding, in addition to any other relief to which
such party may be entitled.
Β |
H.
|
Counterparts
and Facsimile. This Agreement may be executed in any number of identical
counterparts (except as to signature only), each of which may be
deemed an
original for all purposes. A fax, telecopy or other reproduction
of this
instrument may be executed by one or more parties hereto and such
executed
copy may be delivered by facsimile or similar instantaneous electronic
transmission device pursuant to which the signature of or on behalf
of
such party can be discerned as legible, and such execution and delivery
shall be considered valid, binding and effective for all
purposes.
|
IN
WITNESS WHEREOF, the parties have execute this agreement below.
Β
Β
Β
Β (In His Individual Capacity) | Β | Β | Β (In His Individual Capacity) |
/s/Β Xu, Chao | Β | Β | /s/Β Xxxxx, Xxxx Ping |
|
Β | Β |
|
Name:
XU,
CHAOΒ Β Β Β Β Β Title More Title |
Β | Β | Name:
XXXXX,
XXXX PING Title More Title |
Β
Β
Β
Β
EXHIBIT
"A"
PURCHASER
REPRESENTATIONS LETTER
Xxxxx,
Xxxx Ping
0000
Xxxxxx Xxxxx, Xxxx Xxxxx, Xxxxxxx Xxxxxxxx
Xxxxxx
X0X 0X0
Dear
Sir:
The
undersigned, Xu, Chao intends to purchase One Million (1,000,000) shares (the
βSharesβ) of common stock of Greater China Media and Entertainment Corp. (the
βCompanyβ) from you in a transaction that is exempt from registration under the
United States Securities Act of 1933, as amended (the βSecurities Actβ).
The
undersigned represents and warrants as follows:
(1)Β The
offer
to purchase the Shares was made to him outside of the United States, while
the
undersigned was, and is now, outside the United States;
(2)Β The
undersigned is not a U.S. Person (as such term is defined in Section 902(a)
of
Regulation S ("Regulation S") promulgated under the Securities Act; and he
is
purchasing the Shares for his own account and not for the account or benefit
of
any U.S. person;
(3)Β All
offers and sales by the undersigned of the Shares shall be made pursuant to
an
effective registration statement under the Securities Act or pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act;
(4)Β The
undersigned is familiar with and understands the terms and conditions and
requirements contained in Regulation S;
(5)Β The
undersigned has not engaged in any "directed selling efforts" (as such term
is
defined in Regulation S) with respect to the Shares; and
(6)Β The
undersigned is purchasing the Shares with investment intent and at present
does
not have the intent to sell, dispose of, or otherwise transfer, the
Shares.
Dated
this 30 day of January, 2007
Β | Β | Β |
Β | Β | |
Β Β |
Β Β |
Β Β |
Date:Β January 30, 2007 | By:Β Β | /s/Β Xu, Xxxx |
Β |
Xx,
Xxxx
|
|
Β | TitleΒ |
Β