AGREEMENT BETWEEN
XXX XXXX SIN
AND
GATEWAY DISTRIBUTORS LTD
THIS AGREEMENT ("AGREEMENT") is between Xxx Xxxx Sin ("Investor") and
Gateway Distributors LTD (the "COMPANY"). Investor and the Company are also
referred to in this agreement as the "PARTIES".
WHEREAS, the Company is offering restricted common stock at the rate of
$0.0003 in order to raise $1,200,000 dollars to Investor and/or his referrals.
This stock will not be diluted and in the event of a reverse by the Company the
Investors remaining shares cannot depreciate in value. In the event they are not
of equal value or greater, the Company will issue additional share at no cost to
the Investor.
WHEREAS Initial investment by Investor to Purchase $50,000 of Restricted
Common Stock at the sale price of $0.0003 which equals 166,670,000 shares
rounded up. Ten certificates of 16,667,000 each will be issued in the name of
Xxx Xxxx Sin for his initial investment. The funds will be deposited in the
Company's bank account via wire transfer. The banking information is as follows:
BANK INFORMATION FOR WIRE TRANSFER
ROUTING NUMBER (ABA): 000000000
ACCOUNT NUMBER: 0010278497
BANK NAME: CUMORAH CREDIT UNION
BANK ADDRESS: 0000 X XXXXXXX XXX XXX XXXXX XX 00000
NAME OF RECIPIENT: THE RIGHT SOLUTION GATEWAY
NOW THEREFORE, in consideration of the premises and mutual covenants set forth
in the Agreement, the parties hereby agree as follows:
1. SCOPE OF SERVICES: The Company hereby allows the Investor until October
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21, 2005 to complete the entire sale of $1,200,000 dollars of stock purchase. In
the event the Investor has not raised the entire amount, the Company has the
right to pursue additional Investors.
2. TERM: This Agreement shall become effective as of the date set forth on
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the signature page of this Agreement, and shall continue until the entire amount
is raised and stock owed is issued. In the event the deadline of October 21,
2005 is not met, the Company will issue the stock paid for by this date which
will fulfill all obligations of both Parties.
3. INVESTORS: Investors will immediately provide cash or certified funds for
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the stock purchase to the Escrow Company / agent or their purchase will be
considered null and void. Escrow Company / Agent shall wire funds upon receipt
of certificates for Investors within 48 hours. It will be the responsibility of
Xxx Xxxx Sin to get the name and address of the escrow firm to the Company.
4. CONFIDENTIALITY: Xxx Xxxx Sin and the Company covenants that all
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information concerning the Company, including proprietary information, which it
obtains as a result of the services, rendered pursuant to this Agreement shall
be kept confidential and shall not be used by the Investor except for the direct
benefit of this stock offering.
IN WITNES WHEREOF, the Parties hereto have executed or caused this
Agreement to be executed as of the date set forth below.
Investor
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Xxx Xxxx Sin
Investor
Date:
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Gateway Distributors LTD
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Xxxx Xxxxxx
President / CEO
Date:
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