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Title: |
Securities Purchase Agreement |
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Date: |
2006 |
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Preview shows 4KB of 20KB total |
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Price: |
$36 |
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ID: |
#2437344 |
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SECURITIES PURCHASE AGREEMENT
This Securities Purchase Agreement ("Agreement"), dated as of August 21,
2006, among, Intercell International Corporation ("IIC"), and NewMarket
Technology, Inc. (the "Buyer").
W I T N E S S E T H:
A. WHEREAS, IIC is a corporation duly organized under the laws of the State
of Nevada.
B. WHEREAS, Buyer wishes to purchase an aggregate of 250,000 shares of
Series A Preferred stock of IIC (collectively, the "Purchase Shares"), and IIC
desires to sell the Purchase Shares to Buyer free and clear of liens and
encumbrances.
NOW, THEREFORE, it is agreed among the parties as follows:
ARTICLE I
The Consideration
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1.1 Subject to the conditions set forth herein, IIC shall sell to Buyer and
Buyer shall purchase an aggregate of 250,000 shares of Series A Preferred stock
of IIC from IIC. The purchase price for the shares to be paid by Buyer to IIC is
$250,000 advanced to escrow (the "Consideration") which is herewith assigned by
Buyer to and for the benefit of IIC.
ARTICLE II
Closing and Issuance of Shares
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2.1 The Purchase Shares shall be issued by IIC to Buyer fully paid and
nonassessable free and clear of any liens or encumbrances upon receipt of the
Consideration by IIC, and satisfaction of a) the conditions precedent in Article
VI, and b) procedures in Article 5.
2.2 Closing hereunder shall be completed by delivery of the requisite
closing documents, consideration and share certificates on or before August 21,
2006 at 5:00 p.m. PST ("Closing Date") subject to satisfaction of the terms and
conditions set forth herein. Consideration may be delivered by Federal Express
and any closing documents may be delivered by facsimile, Federal Express or
other appropriate means.
{PAGE}
ARTICLE III
Representations, Warranties and Covenants of IIC
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IIC hereby represents, warrants and covenants to Buyer as follows:
3.1 IIC is a corporation duly organized, validly existing and in good
standing under the laws of the State of Nevada, and has the corporate power and
authority to own or lease its properties and to carry on its business as it is
now being conducted. The Articles of Incorporation and Amendments and Bylaws of
IIC, are complete and accurate, and the minute books of IIC, copies of which
have also been made available to Buyer, contain a record, which is complete and
accurate in all material respects, of all meetings, and all corporate actions of
the shareholders and Board of Directors of IIC.
3.2 The authorized capital stock of IIC consists of 200,000,000 shares of
common stock; and 10 million shares of preferred is authorized of which 250,000
shares have been designated as Series A Preferred with the Rights and Privileges
as contained on Exhibit A hereto. There are 23,836,323 shares of Common Stock of
IIC issued and outstanding and no shares of Preferred of any series are
currently outstanding. All such shares of capital stock of IIC are validly
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