EXHIBIT
10.1
NOTE AND RESTRICTED STOCK
PURCHASE AGREEMENT
This NOTE
AND RESTRICTED STOCK PURCHASE AGREEMENT (the " Agreement
") is made and entered into as of January 13, 2009 by and between
CelLynx Group, Inc. , a Nevada corporation (the "
Company "), and Jay Tandon (the " Lender
").
The Note and the Restricted Stock are sometimes
referred to herein as the “ Securities
.”
In connection with this subscription, Lender and
the Company agree as follows:
1. Purchase of Note and Restricted
Stock. The Lender hereby irrevocably agrees, represents
and warrants with, to and for the benefit of the Company, that such
Lender is executing this Agreement in connection with a loan made
to the Company by Lender in the amount of US $100,000 in
consideration of (i) an Unsecured Convertible Promissory Note
in the form attached hereto as Exhibit A in the principal
amount of US $100,000 convertible into common stock of the Company
at a conversion price of $0.20 per share (the “ Note
”), and (ii) 50,000 shares of restricted common stock of the
Company (the “ Restricted Stock ”).
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B.
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Representations and Warranties of the
Lender
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The Lender
hereby represents and warrants to the Company as of the date
hereof:
1. Place of Business . The
principal place of business address set forth below is such
Lender's true and correct principal place of business.
2. Sale or Transfer of the
Securities. The Lender understands that the Securities
have not been registered under the United States Securities Act of
1933, as amended (the “Securities Act”), or under the
laws of any other jurisdiction. The Lender understands and agrees
that transfer or sale of the Securities may be restricted or
prohibited unless they are subsequently registered under the
Securities Act and, where required, under the laws of other
jurisdictions or an exemption from registration is available. The
Lender will not offer, sell, transfer or assign the Securities or
any interest therein in contravention of this Agreement, the
Securities Act or any other law. The Lender understands and
acknowledges that, because of the substantial restrictions on the
transferability of the Securities, it may not be possible for the
Lender to sell the Note, the underlying shares thereof, or the
Restricted Stock readily, even in the case of an
emergency.
3. Representation of Accredited
Investor Status, Investment Experience and Ability to Bear Risk
. Lender acknowledges that the Offering has not been registered
with the United States Securities and Exchange Commission because
the Company is relying on an exemption from registration under
Section 4(2) of the Securities Act, and Regulation D and/or
Regulation S promulgated thereunder. Lender
believes that at the time of the sale of the Securities to
Lender, Lender (or, if Lender is a corporation, limited liability
company or trust, each of its equity owners) qualifies as an
"accredited investor" (as defined under Rule 501 of Regulation D
promulgated under the Securities Act).
In addition,
Lender is knowledgeable and experienced with respect to the
financial and business activities contemplated by the Company and
is capable of evaluating the risks and merits of investing in the
Securities and, in making a decision to proceed with this loan, has
not relied upon any representations, warranties or agreements,
other than those set forth in this Agreement.
4. Own Advice . In connection with
the Lender's loan to the Company, the Lender has carefully
considered and has, to the extent the Lender believes such
discussion necessary, discussed with the Lender's professional
legal, tax and financial advisers (the " Investment Advisors
") the suitability of making the Loan pursuant to this Agreement
for the Lender's particular tax and financial situation and the
Lender has determined that the Securities are a suitable investment
for the Lender.
5. Risks . The Lender represents
and warrants that the Lender is aware that the Securities involve a
substantial degree of risk of loss of the Lender's entire
investment and that there is no assurance of any income from the
Lender's investment. The Lender further represents that the Lender
is relying solely on the Lender's own conclusions or the advice of
the Lender’s Investment Advisors with respect to tax aspects
of any investment in the Securities. The Lender further
represents that it has read and reviewed the Company’s
filings made with the United States Securities and Exchange
Commission available online at www.sec.gov.
6. Inquiries/Non-solicitation . The
Lender and its Investment Advisors have been given access to, and
prior to the execution of this Agreement, have been provided with
an opportunity to ask questions of, and receive answers from, the
Company officers concerning the Company, and to obtain any other
information which the Lender and the Lender's Investment Advisors
required with respect to the Company and an investment in the
Company in order to evaluate such investment and verify the
accuracy of all information furnished to the Lender and its
Investment Advisors regarding the Company. All such questions, if
asked, were answered satisfactorily and all information or
documents provided were found to be satisfactory. Neither the
Lender nor its Investment Advisors have been furnished any offering
literature on which they have relied on other than this Agreement
and the Lender and its Investment Advisors have relied only on this
Agreement. At no time was the Lender presented with or solicited by
any leaflet, public promotion meeting, newspaper or magazine
article, radio or television advertisement or any other form of
general advertising or general solicitation.
7. Authority . The Lender is
authorized and has full right and power to purchase the Securities
and to perform the Lender's obligations pursuant to the provisions
of this Agreement; the person signing this Agreement and any other
instrument executed and delivered herewith on behalf of such Lender
has been duly authorized by such entity and has full power and
authority to do so. If the Lender is a corporation, partnership,
unincorporated association or other entity, the person signing this
Agreement has the legal capacity to authorize, deliver and be bound
by this Agreement and to take all actions required pursuant hereto
and further certifies that all necessary approvals of directors,
shareholders or otherwise have been given and obtained; and if the
Lender is an individual, is of the full age of majority in the
jurisdiction in which the Lender is resident and is legally
competent to execute, deliver and be bound by this Agreement and
take all action pursuant hereto.
8. No Default . The execution and
delivery of this Agreement and the consummation of the transactions
contemplated hereby and thereby will not conflict with, or result
in any violation of or default pursuant to, any provision of any
governing instrument applicable to the Lender, or any agreement or
other instrument to which the Lender is a party or by which the
Lender or any of the Lender's properties are bound or any permit,
franchise, judgment, decree, statute, rule or regulation applicable
to the Lender or any of the Lender's business or
properties.
9. Purchase Entirely For Own
Account . This Agreement is made with the Lender in reliance
upon the Lender's representations to the Company, which by the
Lender's execution of this Agreement, the Lender hereby confirms,
that the Securities issuable to the Lender will be acquired for
investment for the Lender's own account, not as a nominee or agent,
and not with a view to the resale or distribution of any part
thereof, and that the Lender has no present intention of selling,
granting any participation in, or otherwise distributing the same.
The Lender represents and warrants that the Lender has no contract,
understanding, agreement or arrangement with any person to sell or
transfer or pledge to such person or anyone else any of the
Securities for which the Lender hereby subscribes (in whole or in
part) or any interest therein; and the Lender represents and
warrants that the Lender has no present plans to enter into any
such contract, undertaking, agreement or arrangement.
The Lender represents and warrants that the
funds which will be advanced by the Lender hereunder will not
represent proceeds of crime and the Lender acknowledges that the
Company may in the future be required by law to disclose the
Lender's name and other information relating to this Agreement and
the Lender's subscription hereunder, on a confidential basis, and
to the best of the Lender's knowledge (i) none of the subscription
funds to be provided by the Lender (a) have been or will be derived
from or related to any activity that is deemed criminal under the
laws of the United States of America, or any other jurisdiction, or
(b) are being tendered on behalf of a person or entity who has not
been identified to the Lender, and (ii) it shall promptly notify
the Company if the Lender discovers that any of such
representations ceases to be true, and to provide the Company with
appropriate information in connection therewith.
10.
Acknowledgments . The Lender acknowledges
that:
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no securities
commission or similar regulatory authority has reviewed or passed
on the merits of the Securities; and
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there is no
government or other insurance covering the Securities;
and
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there are risks
associated with the purchase of the Securities; and
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there are
restrictions on the Lender's ability to resell the Securities and
it is the responsibility of the Lender to find out what those
restrictions are and to comply with them before selling the
Securities; and
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the Company has
advised the Lender that the Company is relying on an exemption from
the requirements to provide the Lender with a prospectus and to
sell securities through a person or company registered to sell
securities under applicable securities laws and, as a consequence
of acquiring the Securities pursuant
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