1.01
|
Definitions
|
1.02
|
Headings
|
1.03
|
Extended
Meanings
|
1.04
|
Currency
|
2.01
|
Purchase
and Sale and Purchase
Price
|
2.02
|
Closing
|
|
(a)
|
Warrant
Certificate No. N-1 for 1,000,000 New
Warrants;
|
|
(b)
|
Warrant
Certificate No. N-2 for 1,000,000 New Warrants;
and
|
|
(c)
|
Warrant
Certificate No. N-3 for 1,000,000 New
Warrants.
|
3.01
|
Vendor’s
Representations and
Warranties
|
|
(a)
|
the
Vendor is a corporation duly incorporated under the laws of the Province
of Ontario;
|
|
(b)
|
the
Vendor is the sole beneficial owner of the Warrants free and clear
of all
liens, charges, encumbrances and any other rights of
others;
|
|
(c)
|
the
Vendor has good and sufficient power, authority and right to enter
into
and deliver this Agreement and to transfer the legal and beneficial
title
and ownership of the Warrants to the Purchaser free and clear of
all
liens, charges, encumbrances and any other rights of
others;
|
|
(d)
|
there
is no contract, option or any other right of another binding upon
or which
at any time in the future may become binding upon the Vendor to sell,
transfer, assign, pledge, charge, mortgage or in any other way dispose
of
or encumber the Warrants other than pursuant to the provisions of
this
Agreement; and
|
|
(e)
|
the
Vendor is not a non-resident person within the meaning of section
116 of
the Tax Act on the date hereof.
|
3.02
|
Purchaser’s
Representations and
Warranties
|
|
(a)
|
the
Purchaser is a corporation duly continued under the laws of
Canada;
|
|
(b)
|
the
Purchaser has good and sufficient power, authority and right to enter
into
and deliver this Agreement; and
|
|
(c)
|
the
Purchaser is a taxable Canadian corporation as defined in subsection
89(1)
of the Tax Act.
|
3.03
|
Survival
of Representations, Warranties and
Covenants
|
4.01
|
Mutual
Conditions
|
|
(a)
|
the
successful completion of the Arrangement;
and
|
|
(b)
|
any
approvals required or exemptions from Canadian Securities Legislation
shall have been obtained and be in full force and effect and shall
not be
subject to any stop-order or proceeding seeking a stop-order or
revocation. Any such approvals include, but are not limited
to:
|
|
(i)
|
Toronto
Stock Exchange and American Stock Exchange approvals for the repurchase
of
securities by an issuer; and
|
|
(ii)
|
exemptions
from the minority approval and valuation requirement provisions of
National Instrument 61-501 - Insider Bids, Issuer Bids, Business
Combinations and Related Party Transactions of the Canadian Securities
Regulatory Authorities.
|
4.02
|
Purchaser’s
Condition
|
5.01
|
Inconsistent
Activities
|
5.02
|
Taxes
|
5.03
|
Vendor’s
Indemnity
|
5.04
|
Purchaser’s
Indemnity
|
6.01
|
Expenses
|
6.02
|
Further
Assurances
|
6.03
|
Time
of the Essence
|
6.04
|
Benefit
of the Agreement
|
6.05
|
Entire
Agreement
|
6.06
|
Amendments
and Waiver
|
6.07
|
Governing
Law
|
6.08
|
Attornment
|
6.09
|
Counterparts
|
6650309
CANADA INC.
|
||||
By:
|
“Aiping
Young”
|
|||
Name: Aiping
Young
Title: President
and Chief ExecutiveOfficer
|
||||
THE
ERIN MILLS INVESTMENT CORPORATION
|
||||
By:
|
“Gerry
C. Quinn”
|
|||
Name: Gerry
C. Quinn
Title: President
|
||||