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Agreement of Purchase and Sale

 

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Title:

Agreement of Purchase and Sale

Entities:

Assured Pharmacy, Inc.

Date:

2000

Size:

Preview shows 5KB of 17KB total

Price:

$35

ID:

#1494528

 

 

► Miscellany ► Agreements ► Agreements of... ► Purchase ► Agreements of Purchase & Sale

 

 

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<SEQUENCE>8

<FILENAME>0008.txt
<TEXT>

<PAGE>

AGREEMENT OF PURCHASE AND SALE


THIS AGREEMENT is dated for reference November 1, 1999.


BETWEEN:

MR. EDWARD YAU, MR. MIKE HANSON, MR. SHING
YAU, MR. LAWRENCE YAU, MRS. PHYLLIS HANSON,
MR. STEVE HANSON, MR. KIRBY LOUIE, MR. ROBERT
HUIE, MS. JULIE HANSON and MR. KEN YAU whose
collective address for delivery is 12191
McNeely Drive, Richmond, British Columbia,
V6V 2S1;

(the "Vendors")

OF THE FIRST PART

AND:

SURFORAMA.COM, INC., a corporation duly
incorporated pursuant to the laws of Nevada
with an office located at 412 - 675 West
Hastings Street, Vancouver, British Columbia
V6B 1N2;

(the "Purchaser")
OF THE SECOND PART

W H E R E A S

A. The Vendors are the registered holders and beneficial owners
of all the issued and outstanding shares in the capital of
Surforama.com Portal Services Inc., a company incorporated
pursuant to the laws of the Canada Business Corporations Act (the
"Company"), being one hundred common shares without par value; and

B. The Purchaser has agreed to purchase and the Vendors have
agreed to sell, all right, title and interest the Vendors have in
the Company, subject to the terms of this Agreement;

NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration
of the mutual covenants and provisos herein contained, THE PARTIES
HERETO AGREE AS FOLLOWS:

1. VENDOR'S REPRESENTATIONS

The Vendor represents and warrants to the Purchaser
that:

(a) The issued and outstanding share capital of the Company
consists of one hundred common shares without par value
(the "Shares") which were issued as fully paid and non-
assessable. The Vendors are the registered holders and
beneficial owners of the Shares which are validly
issued and free and clear of all liens, charges and
encumbrances;

(b) The Vendors have good and sufficient right and
authority to enter into this

<PAGE>

2

Agreement on the terms and conditions herein set forth and
to transfer the legal title and beneficial ownership of the
Shares to the Purchaser;

(c) The Company is a company duly incorporated under the
laws of Canada, is a non-reporting company, and is a
valid and subsisting company in good standing in
accordance with the Canada Business Corporations Act;

(d) The Memorandum and Articles of the Company permit the
Company to carry on its present business;

(e) The performance of this Agreement will not be in
violation of the Memorandum, Bylaws or Articles of the
Company or any of Agreement to which the Vendors or the
Company are a party and will not give any person or
company any right to terminate or cancel any agreement
or any right enjoyed by the Company and will not result
in the creation or imposition of any lien, encumbrance
or restriction of any nature whatsoever in favour of a
third party upon or against the assets of the Company;

(f) The constating documents of the Company have not been
altered since the date of incorporation of the Company;

(g) No dividends or other distribution on the Shares in the
capital of the Company have been made, declared or
authorized since incorporation;

(h) The corporate records and minute books of the Company
contain complete and accurate minutes of all meetings
of the directors and shareholders of the Company held
since incorporation. The share certificate books,
register of security holders, register of transfers and
register of directors and any similar corporate records
of the Company are complete and accurate;

(i) All material transactions of the Company have been
promptly and properly recorded or filed in or with its
respective books and records;

(j) The Company has good and marketable title to the
"surforama.com" website and all assets and intellectual
property comprised therein, all of which assets are
free and clear of all liens, charges and encumbrances;

(k) The Company holds all permits, licences, registrations
and authorizations necessary to own and operate its
assets and carry on its business;

(l) The Company is not in violation of any federal,
provincial, state, municipal or other law, regulation
or order of any government or regulatory authority;

 

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