Letter Of IntentEstate Coffee Holdings Corp. • August 20th, 2010 • Drilling oil & gas wells
This Letter of Intent (“LOI”) sets forth our mutual understanding regarding the purchase of approximately 100 common shares of FTG from all of its existing shareholders, which shall constitute 100% of the issued and outstanding shares of FTG. The purchase price for the FTG shares shall be the issuance of 4,000,000 common shares of ECHD. This transaction will be subject to the execution of a definitive Share Purchase Agreement (the “SPA”) containing appropriate representations and warranties, as well as customary covenants, indemnification, and conditions in form and substance satisfactory to FTG, FTG’s shareholders, ECHD and their respective counsels. The SPA will provide in pertinent part as follows:
