Exhibit 10.7
This CONSULTING SERVICES AGREEMENT is made as of the 18th day of
September, 2002.
BETWEEN:
HEMPTOWN CLOTHING INC., a company incorporated under the laws of the
Province of British Columbia
(the "COMPANY")
AND
XXXXXXXX XXXXXXX, of #404 - 000 Xxxxxxxxx Xx., Xxxxxxxxx, X.X., X0X 0X0
(the "CONTRACTOR")
WHEREAS:
A. The Company is in need of consulting and advice in order to secure
high profile individuals as spokespeople and distributors of it's
products,
B. The Contractor has contacts that will help facilitate the Company
achieving its goals,
C. The Contractor has voluntarily agreed to subscribe for 150,000
Warrant Units (as hereinafter defined) of the Company at USD$0.001
per Warrant Unit
D. The Company and the Contractor wish to enter into a contractual
relationship for their mutual benefit.
NOW THEREFORE, in consideration of the mutual agreements and promises
contained herein, the receipt and sufficiency of which are hereby
acknowledged, the parties to this agreement hereby agree as follows:
1. The Contractor shall supply industry specific pertinent contacts on
an as needed basis to the Company.
2. The Contractor shall assist the Company in securing high profile
individuals and celebrities as distributors of the Company's
products.
3. The Contractor shall execute a subscription agreement, which is
attached hereto as Schedule "A", whereby the Contractor subscribes
for 150,000 warrant units (the "WARRANT UNITS" or singularly the
"WARRANT UNIT") at a price of USD$0.001 per Warrant Unit for total
proceeds to the Company of USD$150.00. Each Warrant Unit shall
consist of a right to purchase one common share (the "SHARES" or
singularly the "SHARE") of the Company for USD$2.00 plus one
piggyback warrant (the "PIGGYBACK WARRANT"). Each Piggyback Warrant
shall consist of a right to purchase one common share of the Company
for USD$4.00. The Contractor shall have 3 years from the date of
issue of the Warrant Unit to exercise the Warrant Unit. The
Contractor shall have 1 year from the date of
exercise of the Warrant Unit to exercise the Piggyback Warrant.
IN WITNESS whereof the parties have executed this agreement the day and
year first before written.
Hemptown Clothing Inc.
Per: "Xxxxx Xxxxx" "Xxxxxxxx XxXxxxx"
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President Xxxxxxxx XxXxxxx
