Exhibit 10.1
STOCK PURCHASE
AGREEMENT
as of June 18,
2009
This STOCK PURCHASE AGREEMENT (the
“Agreement”) is made as of the date above first written
by WorldVest Equity, Inc. located at 2049 Century Park East,
Suite 4200, Los Angeles, CA 90067 (shall be referred to as
“WVE” or “Seller”) on the one hand, and
Catalyst Ventures Incorporated (shall be referred to as
“Catalyst” or the “Purchaser”) on the other
hand.
W I T N E S S E T
H
WHEREAS , WVE desires to sell to Purchaser
1000 membership units (the “Membership
Units”), representing 100% of the equity ownership WorldVest,
LLC (“WVUSA”) a Nevada Limited Liability Company and
100,000 shares of common stock representing 100%
equity ownership in FutureVest Manaagement (Shenyang) Co. Ltd.
(“FutureVest”) (collectively the Membership Units in
WVUSA and the common shares in FutureVest shall be referred to as
the “Common Stock”).
WHEREAS , Catalyst desires to purchase from WVE the
Membership Units in the WVUSA and the shares of FutureVest subject
to the terms and conditions of this Agreement; and
NOW, THEREFORE
, in consideration of the mutual
promises made hereunder each to the other and other good and
valuable consideration, the receipt of which is hereby
acknowledged, the parties hereto agree as follows:
I.
THE SHARES. Seller agrees to sell
Purchaser 1,000 Membership Units of WVUSA and 100,000 shares of
FutureVest for a total purchase price of Six Million United
States Dollars (USD $6,000,000) (the “Purchase
Price”) to be paid upon execution of this
Agreement in the following manner: Catalyst Ventures shall issue a
9% Convertible Debenture with conversion rights into shares of
Catalyst Ventures common stock which are convertible at $1.50 per
share. In addition, to the Convertible
Debenture, the Seller will also receive a warrant to purchase
4,000,000 shares of common stock exercisable at $3.00 per
share. (See the form of Debenture and Warrants attached
a Exhibit A to this Share Purchase Agreement.
III.
REPRESENTATIONS, WARRANTIES AND COVENANTS OF SELLER.
Seller hereby represents, warrants and covenants
that:
(i) it
has full power, authority and capacity to sell
the Common Stock to Purchaser in accordance with the
terms and provisions of this Agreement and to execute and deliver
this Agreement, and this Agreement is the valid and binding
obligation of WVE enforceable according to its terms.
(ii) the
Common Stock being sold by Seller are validly issued, fully paid
and non-assessable. Upon such transfer/sale, Purchaser shall
acquire good and marketable title to such shares of the Common
Stock, free and clear of any claim, lien, option, charge,
restrictive legend or encumbrance of any nature
whatsoever.
(iii) that
WVUSA and FutureVest have ongoing business at the time of the
transaction and that Catalyst agrees to assume all operations and
continue ongoing operations.
(iv) that
both WVUSA and FutureVest prior to this transaction are wholly
owned subsidiaries of WVE which is also the majority shareholder of
Catalyst.
V.
ASSIGNABILITY. Purchaser may not
assign its rights or obligations hereunder without the express
written consent of the Seller.
VI.
NO WAIVER. No failure or delay on the part of
any party hereto in exercising any right, power or remedy hereunder
shall be construed as a waiver of those rights, powers or
remedies. Any such waiver granted hereunder must be in
writing and shall be valid only in the specific instance in which
given.
VII.
GOVERNING LAW AND CONSENT TO JURISDICTION
. The terms of this Agreement shall be interpreted in
accordance with the laws of the State of
California. Both parties agree to submit to the
jurisdiction of the courts of the State of California.
VIII.
AMENDMENT. This Agreement may not be
amended except by the written consent of all the parties to this
Agreement.
IX.
ENFORCEMENT OF THE AGREEMENT. In the
event litigation is required to enforce any provisions of this
Agreement, the prevailing party will be entitled to reasonable
administrative or attorneys’ fees, including those associated
with appeals and any post judgment costs of collection.
X.
SEVERABILITY. If for any reason, any
provision of this Agreement is found to be prohibited,
unenforceable or not authorized in any jurisdiction, only that
provision shall be stricken or modified so that it is in compliance
with applicable policy. The remainder of the Agreement
shall remain in full force and be binding upon all
parties.
XI.
TITLES NOT TO AFFECT INTERPRETATION. The
titles of sections or subsections contained in this Agreement are
for convenience only, and they neither form a part of this
Agreement nor are they to be used in the constructions or
interpretations hereof.
XII CLOSING.
This Stock Purchase Agreement is expected to close within 10 days
of the date of this agreement.
IN WITNESS WHEREOF
, this Agreement has been executed
for and on behalf of the undersigned as of the date first above
written.
FOR
SELLER:
FOR PURCHASER:
WorldVest Equity,
Inc. Catalyst
Ventures Incorporated
__________________________________ __________________________________
Garrett K.
Krause, CEO Garrett
K. Krause, CEO
pursuant to a Board of Directors
and pursuant
to a Board of Directors and
shareholders resolution
of shareholders
resolution of
WorldVest Equity,
Inc. Catalyst
Ventures Incorporated
CATALYST VENTURES INCORPORATED
DBA WORLDVEST