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Acquisition Agreement and Plan of Merger

 

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Title:

Acquisition Agreement and Plan of Merger

Entities:

Kaire Holdings Inc

Date:

2003

Size:

Preview shows 6KB of 75KB total

Price:

$38

ID:

#1339040

 

 

► Plans ► Agreements ► Merger ► Acquisition Agreements & Plan of Merger

 

 

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                    ACQUISITION AGREEMENT AND PLAN OF MERGER


ACQUISITION AGREEMENT AND PLAN OF MERGER (this "Agreement") made as of this 14th
---------
day of March, 2003, by and among Kaire Holdings, Incorporated, an Delaware
corporation having its principal place of business at 8135 Clybourn Ave., Sun
Valley, CA 91352 ("KAHI"), KAHI Acquisition Sub, Inc., a Delaware corporation
----
("KAHI SUB"), and EntreMetrix, a Nevada corporation having its principal place
---------
of business at 18622 MacArthur Boulevard, 2nd Floor, Irvine, California 92612
("ENTR").
----

CAPITALIZED TERMS USED IN THIS AGREEMENT AND NOT OTHERWISE DEFINED SHALL
HAVE THE MEANINGS ASCRIBED TO SUCH TERMS IN SECTION 27.

WHEREAS, ENTR shall acquire 100% of the common stock of KAHI SUB, a wholly
owned subsidiary of KAHI, upon the merger of KAHI SUB with and into ENTR in
exchange for a combination of a promissory note plus 250,000,000 of the issued
and outstanding shares of KAHI Common Stock.

WHEREAS, KAHI is authorized to issue 900,000,000 shares of its common
stock, par value $0.001 per share (the "KAHI Common Stock") of which 490,484,863
-----------------
shares are issued and outstanding (the "Outstanding KAHI Common Stock"); and
-----------------------------

WHEREAS, KAHI SUB is a wholly owned subsidiary of KAHI and is authorized to
issue 200 shares of common stock, par value $.001 (referred to as the "KAHI SUB
--------
Shares"), all of which such KAHI SUB Shares are issued and outstanding and owned
------
by KAHI; and

WHEREAS, the respective Boards of Directors of KAHI and KAHI SUB deem it
advisable and generally to the advantage and welfare of the Companies, and their
respective shareholders, that (i) KAHI SUB be merged with and into ENTR under
the terms and conditions hereinafter set forth (the "Merger") and to be a tax
free reorganization under Section 368(a)(1)(A) of the Code; and

NOW, THEREFORE, in consideration of the premises, covenants and conditions
hereof, the parties hereto do mutually agree as follows:

1. Vote on Merger and Related Matters. The Constituent Corporations
-------------------------------------
shall each, as soon as practicable, but prior to closing, and in no event later
than 10 days after the execution and delivery hereof, (i) cause a special
meeting of its shareholders to be called to consider and vote upon the Merger on
the terms and conditions hereinafter set forth, or (ii) obtain written consent
of such shareholders, as is necessary, to approve the Merger. Subject to the
further conditions and provisions of this Agreement, a closing of the Merger
shall be held (the "Closing"), and a certificate of merger and all other
-------
documents or instruments deemed necessary or appropriate by the parties hereto
to effect the Merger shall be executed and filed with the Secretaries of States
of the States of Nevada and Delaware as promptly as possible thereafter. The
certificate of merger for the Merger (the "Certificate of Merger") so filed
---------------------
shall be substantially in the forms of Exhibits A1 and A2 annexed hereto, with
------------------
such changes therein as the Boards of Directors of the Constituent Corporations
shall mutually approve.

2. Representations, Warranties and Covenants of ENTR. ENTR and the
-----------------------------------------------------
ENTR Shareholders, jointly and severally, represent, warrant and covenant as
follows, except to the extent set forth on the ENTR Schedule of Exceptions:

(a) ENTR is, and on the Effective Date will be, a duly organized
and a validly existing corporation in good standing under the laws of
Nevada and in such other jurisdictions as it is qualified to do business.
Each ENTR Shareholder, including the name of the Shareholder and address
for notice of the applicable Shareholder is set forth on the ENTR Schedule
of Exceptions ("Outstanding ENTR Shareholder Interests"). All Outstanding
--------------------------------------
ENTR Shareholder Interests, on the Effective Date, will be duly authorized,
validly issued, fully paid and nonassessable. There are no, and on the
Effective Date there will be no, issued or outstanding rights, options or
warrants to purchase any equity interest in ENTR, including but not limited
to any Shareholder interests of ENTR or any other issued or outstanding
securities of any nature convertible into or exercisable or exchangeable
for Shareholder interests of ENTR, as applicable.


<PAGE>
The Outstanding ENTR Shareholder Interests have all been issued pursuant to
an appropriate exemption from the registration requirements of the
Securities Act and from any applicable registration requirements of the
various states.

(b) ENTR does not have, and on the Effective Date will not have,
any subsidiaries, nor does it own any direct or indirect interest in any
other business entity.

(c) ENTR has, and on the Effective Date will have, full power and
authority to enter into this Agreement and, subject to any required Member

 

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