Back to top

STOCK PURCHASE AGREEMENT

Purchase and Sale Agreement

STOCK PURCHASE AGREEMENT | Document Parties: WESTMONT RESOURCES INC. | Westmont Resources, Inc You are currently viewing:
This Purchase and Sale Agreement involves

WESTMONT RESOURCES INC. | Westmont Resources, Inc

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.
Title: STOCK PURCHASE AGREEMENT
Governing Law: Texas     Date: 10/1/2008

STOCK PURCHASE AGREEMENT, Parties: westmont resources inc. , westmont resources  inc
50 of the Top 250 law firms use our Products every day

 

STOCK PURCHASE AGREEMENT

 

THIS STOCK PURCHASE AGREEMENT (this “ Agreement ”) is made and entered into this 30th day of September 2008 by and among (i) Andrew Jarvis, an individual, whose address is 1621 Freeway Drive, Suite 209, Mt. Vernon, WA 98273, (the “ Seller ”) and (ii) Peter Lindhout, an individual, whose address is 110 Wall St., 11 th Floor, New York NY 10005, and Javan King, an individual, whose address is 110 Wall St., 11 th Floor, New York NY 10005, (individually, each a “ Buyer ”, and, collectively, the “ Buyers ”,  and, together with the Seller , the “ Parties ”, and each, a “ Party ”).

 

RECITALS:

 

WHEREAS, the Parties desire that Buyers shall each acquire from Seller an approximate 19.6% interest of the common stock, par value $0.001 per share, of Westmont Resources, Inc., a Nevada corporation, (the “ Company ”) ; and

 

WHEREAS , in order to effect that acquisition, the Seller will sell to the Buyers and the Buyers will purchase from the Seller an aggregate of Three Million Six Hundred Sixty-six Thousand Six Hundred Sixty-seven (3,666,667) shares of Company’s common stock, on the terms and conditions set forth herein below.

 

AGREEMENT:

 

NOW, THEREFORE , in consideration of the foregoing recitals, the mutual promises hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

Article I

 

1.01             Purchase and Sale .   Subject to the terms and conditions of this Agreement and in reliance upon the representations, warranties, covenants and agreements contained herein, The Seller agrees to sell to Buyers and each of Buyers hereby agrees to purchase from the Seller an aggregate of Three Million Six Hundred Sixty-six Thousand Six Hundred Sixty-seven (3,666,667) shares of the Company’s common stock, par value $0.001 per share (the “ Common Shares ”), in exchange for delivery by Buyers to the Seller of cash in the aggregate sum of Six Thousand Dollars ($6,000.00) (the “ Purchase Price ”) on the date mutually agreed upon by the parties to be the date on which to close the transaction which is the subject of this Agreement (the “ Closing Date ”).

 

1.02             Certificates to be Delivered by Company .  Within five (5) business days following the Closing Date, and subject to the terms and conditions of this Agreement, the Seller hereby agrees to deliver to each Buyer a Certificate, registered in Buyer’s name and representing his portion of the Common Shares, as set forth on the signature page hereof.  The Common Shares will be delivered free of any claims or liens or encumbrances.  The Common Shares shall be issued pursuant to an exemption from registration under the Securities Act of 1933, as amended (the “ 1933 Act ”) and from registration under any and applicable state securities laws. The certificates representing the Common Shares shall bear the following restrictive legend set forth in Rule 144 of the Rules and Regulation of the 1933 Act as well as any appropriate legend required under applicable state securities laws:

 

 

 

1


 

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR APPLICABLE STATE SECURITIES LAWS.  THE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (1) IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE 1933 ACT OR APPLICABLE STATE SECURITIES LAWS, OR (2) IN THE ABSENCE OF AN OPINION OF COUNSEL, IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER THE 1933 ACT OR (3) UNLESS SOLD, TRANSFERRED OR ASSIGNED PURSUANT TO RULE 144 UNDER SAID ACT.

 

1.03             Delivery of Consideration by Buyer .   On the Closing Date, and subject to the terms and conditions of this Agreement, Buyer hereby agrees to deliver to the Company the Purchase Price in the form of a check or checks.

 

Article II

 

2.01             Company Financial Statements .  Each of the Buyers hereby acknowledges and agrees that he has had an opportunity to review the Company’


 
SITE SEARCH

AGREEMENTS / CONTRACTS

Document Title:

Entire Document: (optional)

Governing Law:(optional)


Try our advanced search >>
 

CLAUSES

Search Contract Clauses >>

Browse Contract Clause Library>>

Get Email Updates
Email:
This is only a partial view of this document. We have millions of legal documents and clauses drafted by top law firms. learn more search for free browse for free learn more