SECURITIES PURCHASE AGREEMENTSecurities Purchase Agreement • November 14th, 2011 • Us Natural Gas Corp • Crude petroleum & natural gas • New York
This SECURITIES PURCHASE AGREEMENT (the “Agreement”), dated as of September 8, 2011, by and between US NATURAL GAS CORP., a Florida corporation, with headquarters located at 1717 Dr. Martin Luther King, Jr. Drive North, St. Petersburg, Florida 33704 (the “Company”), and ASHER ENTERPRISES, INC., a Delaware corporation, with its address at 1 Linden Place, Suite 207, Great Neck, NY 11021 (the “Buyer”).
CONVERTIBLE NOTEUs Natural Gas Corp • November 14th, 2011 • Crude petroleum & natural gas
FOR VALUE RECEIVED, US Natural Gas Corp a Florida corporation with offices at 1717 Dr. Martin Luther King Jr. St. N, St. Petersburg, Florida 33704 (hereinafter referred to as the “Payor” or the “Company”), agrees to pay to the order of Tangiers Investors, LP, a Delaware limited partnership with offices at 402 W Broadway Ste. 400 San Diego, California 92101 (hereinafter referred to as the “Payee” or “Tangiers”), on the Maturity Date set forth in Article “3” of this Convertible Note (the “Note”), unless earlier accelerated in accordance with the terms of this Note, the principal sum of twenty five thousand dollars ($25,000) with interest on the aforesaid amount as set forth in Article “2” of this Note.
