BINDING LETTER OF INTENTBinding Letter of Intent • December 20th, 2019 • Elite Group Inc. • Wholesale-miscellaneous nondurable goods
The present document is a Binding Letter of Intent (“Binding LOI”) between Elite Group Inc. a Nevada corporation having its principle place of business at 4760 Preston Rd, #244-114 Frisco, Texas 75034 (“Pubco), Power Conversion Technology Inc. a Pennsylvania Corporation, whose principal place of business is located at Schreiber Industrial Park Bldg. 1, 90 Halstead Blvd, Zelienpole, PA 16063 (“PCTI”) and Catherine Chis, President of PCTI (“CC”), in her capacity as President and sole shareholder of PCTI and residing in Pennsylvania, (Pubco, PCTI and CC referred to herein as Parties or Party), whereby Pubco shall purchase all of the outstanding shares in PCTI (“Transaction”) under the following terms and conditions:
