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Title: |
Stock Purchase Agreement |
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Entities: |
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Date: |
2001 |
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Size: |
Preview shows 5KB of 22KB total |
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Price: |
$43 |
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ID: |
#1625334 |
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STOCK PURCHASE AGREEMENT
THIS STOCK PURCHASE AGREEMENT ("Agreement") is entered into this 24th of
April, 2001, by and among PRINCETON MINING COMPANY, an Idaho corporation
(hereinafter referred to as "Buyer"); and Randy Howell (hereinafter referred to
as "Seller"), being the sole stockholder of Brittany Enterprises, Inc. a Nevada
corporation (the "Company").
WHEREAS, Seller is the owner of record and beneficially owns Two Million
(2,000,000) shares of the issued and outstanding shares of Common Stock of the
Company (the "Shares"); and
WHEREAS, Seller desires to sell all of the Shares to Buyer, and Buyer
desires to purchase the Shares, upon the terms and conditions set forth herein.
NOW, THEREFORE, in consideration of the mutual promises and covenants
contained herein, and for other good and valuable consideration, the receipt,
adequacy and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:
I.
SALE AND PURCHASE OF THE SHARES
1.1 SALE AND PURCHASE. Subject to the terms and conditions hereof, at the
Closing (as defined in paragraph 1.2 below), Seller agrees to sell, assign,
transfer, convey and deliver to Buyer, and Buyer agrees to purchase from Seller,
the Shares listed in Exhibit "A", attached hereto.
1.2 CLOSING. The purchase shall be consummated at a closing ("Closing") to
take place at 11:00 o'clock a.m., at the offices of Seller's counsel on April
24, 2001 ("Closing Date").
1.3 PURCHASE PRICE. The aggregate purchase price ("Purchase Price") for the
Shares shall be Eighteen Million (18,000,000) shares of Common Stock of the
Buyer ("Buyer's Shares"). The Purchase Price shall be paid at Closing, by
issuance and delivery of Buyer's Shares to Seller against receipt of
certificates representing the Shares, duly endorsed for transfer to Buyer.
1.4 OTHER AGREEMENTS. At the Closing, the indicated parties shall execute
and deliver the following additional agreements in substantially the form
attached hereto:
(a) Appointment of Randy Howell as Director/President and Buyer=s
receipt of resignations of all officers and/or directors of Buyer except
for Dennis O=Brien.
(b) Stock certificates representing all of the Shares, duly endorsed
to Buyer and in blank or assignments separate from the certificates,
transferring the Shares from Seller to Buyer, copies of which are attached
hereto as Exhibit "B".
1
<PAGE>
1.5 BASIC AGREEMENTS AND TRANSACTIONS DEFINED. This Agreement and other
agreement listed in paragraph 1.4, are sometimes referred to as the "Basic
Agreements". The transactions contemplated by the Basic Agreements are sometimes
referred to as the "Transactions".
II.
REPRESENTATIONS AND WARRANTIES
2.1 REPRESENTATIONS AND WARRANTIES OF SELLER. Seller represents and
warrants to Buyer, with respect to the Shares owned by Seller, as follows:
(a) TITLE TO THE SHARES. At Closing, Seller shall own of record and
beneficially the number of the Shares listed in Exhibit "A", of the
Company, free and clear of all liens, encumbrances, pledges, claims,
options, charges and assessments of any nature whatsoever, with full right
and lawful authority to transfer the Shares to Buyer. No person has any
preemptive rights or rights of first refusal with respect to any of the
Shares. There exists no voting agreement, voting trust, or outstanding
proxy with respect to any of the Shares. There are no outstanding rights,
options, warrants, calls, commitments, or any other agreements of any
character, whether oral or written, with respect to the Shares.
(b) INVESTMENT INTENT. Seller is acquiring the shares of Buyer for his
or her own account, for investment purposes only, and not with a view to
the sale or distribution of any part thereof, and Seller has no present
intention of selling, granting participation in, or otherwise distributing
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