EXHIBIT 99.1
XXXXX CONTAINER CORP.
A Nevada Corporation
0000 X. Xxx Xxxxxxx Xxxxx
Xxxxxxxxxx, XX 00000
Tel. 000-000-0000
January 31, 2012
Xx. Xxxxx X. Xxxxxxx
Crown Hospitality Group, LLC
000 X. Xxxxxxxx Xxxx
Xxxxxxxxxx, Xxxxxxxx 00000
Re: July 1, 2001 Funding Agreement between Xxxxx Container Corp. ("Xxxxx") and
Crown Hospitality Group, LLC ("Crown") as Amended July 31, 2011
Dear Xx. Xxxxxxx:
Based upon conversations between Xxxxx and Crown and in accordance with Section
4.8, Notices, of the Funding Agreement dated July 1, 2011, amended July 31,
2011, the parties hereby agree to modify the financial terms and due dates of
the tranches per Exhibit A of the Funding Agreement. Crown agrees the entire
cash equity investment of $4 million will be funded by February 29, 2012. Upon
receipt of the $4 million, Xxxxx will issue 60,790,001 shares of restricted
Common shares within seven (7) business days of receipt of the entire $4 million
funding in accordance with the Funding Agreement, as Amended July 31, 2011.
The parties further agree to modifications to the "Recitals", "Article I,
Section 1.1", "Article II, Section 2.1," "Exhibit A" of the Funding Agreement
and "Article IV, Section 4.11" to provide for (1) Crown to be substituted by its
related party Crown Endeavors Global Limited ("CEG Fund"), a United Kingdom
company, (2) the funding to be accelerated and (3) a 10% finders' and investment
advisory fee of $400,000, to be paid within ten (10) business days after receipt
by Xxxxx of the $4 million, to RCG Investments, LLC, 000 Xxxxx Xxxxxxxxx, Xxxxx
000, Xxxxxxxx, Xxxxxxxx 00000.
CROWN HOSPITALITY GROUP, LLC
By /s/ Xxxxx X Xxxxxxx Dated January 31, 2012
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Xxxxx X. Xxxxxxx, Managing Member
XXXXX CONTAINER CORP.
By /s/ Xxxxxx X Xxxxx Dated January 31, 2012
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Xxxxxx X. Xxxxx, President and CEO
