ex10_2.htm


    AGREEMENT OF CONVEYANCE,
TRANSFER AND ASSIGNMENT OF ASSETS AND ASSUMPTION OF
OBLIGATIONS

     

    This
Agreement of Conveyance, Transfer and Assignment of Assets and Assumption of
Obligations (“Transfer
and Assumption Agreement”) is made as of June 23, 2008, by Options Media
Group Holdings, Inc., a Delaware corporation (“Assignor”), and Heavy
Metal Holdings, Inc., a Delaware corporation and a wholly-owned subsidiary of
Assignor (“Assignee”).

    


    WHEREAS, Assignor is a mineral
exploration company focused on the acquisition and development of a portfolio of
uranium properties (the “Business”);
and

    


    WHEREAS, Assignor desires to convey,
transfer and assign to Assignee, and Assignee desires to acquire from Assignor,
all of the assets of Assignor relating to the operation of the Business, and in
connection therewith, Assignee has agreed to assume all of the liabilities of
Assignor relating to the Business, on the terms and conditions set forth
herein.

    


    NOW
THEREFORE, in consideration of the mutual promises and agreements contained
herein, the parties hereto, intending to be legally bound hereby, agree as
follows:

    


    Section
1.                                Assignment.

    


    1.1.           Assignment
of Assets.  For good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged by Assignor, Assignor does hereby
assign, grant, bargain, sell, convey, transfer and deliver to Assignee, and its
successors and assigns, all of Assignor’s right, title and interest in, to and
under the assets, properties and business, of every kind and description,
wherever located, real, personal or mixed, tangible or intangible, owned, held
or used in the conduct of the Business (the “Assets”), including,
but not limited to, the Assets listed on Exhibit A hereto, and
identified in part by reference to Assignor’s balance sheet as of January 31,
2008, filed with the Securities and Exchange Commission as part of Assignor’s
quarterly report on Form 10-Q on March 18, 2008 (the “Balance Sheet”).
Notwithstanding anything to the contrary contained herein, the term Assets shall
not include either the assets of or the business conducted by Options
Acquisition Sub, Inc., a Delaware corporation.

    


    1.2           Further
Assurances.  Assignor shall from time to time after the date
hereof at the request of Assignee and without further consideration execute and
deliver to Assignee such additional instruments of transfer and assignment,
including without limitation any bills of sale, assignments of leases, deeds,
and other recordable instruments of assignment, transfer and conveyance, in
addition to this Transfer and Assumption Agreement, as Assignee shall reasonably
request to evidence more fully the assignment by Assignor to Assignee of the
Assets.

    


    Section
2.                                Assumption.

    


    2.1           Assumed
Liabilities.  As of the date hereof, Assignee hereby assumes
and agrees to pay, perform and discharge, fully and completely, (i) all
liabilities, commitments, contracts, agreements, obligations or other claims
against Assignor, whether known or unknown, asserted or unasserted, accrued or
unaccrued, absolute or contingent, liquidated or unliquidated, due or to become
due, and whether contractual, statutory, or otherwise associated with the
Business 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    whenever
arising (the “Liabilities”),
including, but not limited to, the Liabilities listed on Exhibit B, and
identified in part by reference to the Balance Sheet.

    


    2.2           Further
Assurances.  Assignee shall from time to time after the date
hereof at the request of Assignor and without further consideration execute and
deliver to Assignor such additional instruments of assumption in addition to
this Transfer and Assumption Agreement as Assignor shall reasonably request to
evidence more fully the assumption by Assignee of the Liabilities.

    


    Section
3.                                Headings.  The
descriptive headings contained in this Transfer and Assumption Agreement are for
convenience of reference only and shall not affect in any way the meaning or
interpretation of this Transfer and Assumption Agreement.

    


    Section
4.                                Governing
Law.  This Transfer and Assumption Agreement shall be governed
by and construed in accordance with the laws of the State of Delaware applicable
to contracts made and to be performed entirely within that state, except that
any conveyances of leaseholds and real property made herein shall be governed by
the laws of the respective jurisdictions in which such property is
located.

    


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intentionally.]

     

    
      
        
        

      

      
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    [SIGNATURE
PAGE TO TRANSFER AND ASSUMPTION AGREEMENT]

    


    IN WITNESS WHEREOF, this Transfer and
Assumption Agreement has been duly executed and delivered by the parties hereto
as of the date first above written.

    


    OPTIONS ACQUISITION SUB,
INC.

    


    


    By:  /s/ Scott
Frohman                                                                         

    Name:  Scott
Frohman

    Title:
Chief Executive Officer

    


    


    HEAVY
METAL HOLDINGS, INC.

    


    By: Options Media Group Holdings,
Inc.,

          Its sole
stockholder

    


    


    By: /s/ Scott Frohman

                            Name:
Scott Frohman

                                    Title: Chief
Executive Officer

     

    
      
        
        

      

      
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    Exhibit
A

    


    (a) All of
the equipment, computers, servers, hardware, appliances, implements, and all
other tangible personal property that are owned by Assignor and have been used
in the conduct of the Business;

     

    (b) all
inventory associated with the Business;

     

    (c) all real
property and real property leases to which Assignor is a party, and which affect
the Business or the Assets;

     

    (d) all
contracts to which Assignor is a party, or which affect the Business or the
Assets, including leases of personal property;

     

    (e) all
rights, claims and causes of action against third parties resulting from or
relating to the operation of the Business or the Assets, including without
limitation, any rights, claims and causes of action arising under warranties
from vendors and other third parties;

     

    (f) all
governmental licenses, permits, authorizations, consents or approvals affecting
or relating to the Business or the Assets;

     

    (g) all
accounts receivable, notes receivable, prepaid expenses and insurance and
indemnity claims to the extent related to any of the Assets or the
Business;

     

    (h) all
goodwill associated with the Assets and the Business;

     

    (i) all
business records, regardless of the medium of storage, relating to the Assets
and/or the Business, including without limitation, all schematics, drawings,
customer data, subscriber lists, statistics, promotional graphics, original art
work, mats, plates, negatives, accounting and financial information concerning
the Assets or Business;

     

    (j) all
internet domain names and URLs of the Business, software, inventions, art works,
patents, patent applications, processes, shop rights, formulas, brand names,
trade secrets, know-how, service marks, trade names, trademarks, trademark
applications, copyrights, source and object codes, customer lists, drawings,
ideas, algorithms, processes, computer software programs or applications (in
code and object code form), tangible or intangible proprietary information and
any other intellectual property and similar items and related rights owned by or
licensed to Assignor used in the Business, together with any goodwill associated
therewith and all rights of action on account of past, present and future
unauthorized use or infringement thereof; and

     

    (k) all other
privileges, rights, interests, properties and assets of whatever nature and
wherever located that are owned, used or intended for use in connection
with, or that are necessary to the continued conduct of, the Business as
presently conducted or planned to be conducted.

     

    
      
        
        

      

      
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    Exhibit
B

     

    


    (a) All
liabilities in respect of indebtedness of Assignor related to the
Business;

     

    (b) product
liability and warranty claims relating to any product or service of Assignor
associated with the Business;

     

    (c) taxes,
duties, levies, assessments and other such charges, including any penalties,
interests and fines with respect thereto, payable by Assignor to any federal,
provincial, municipal or other government, domestic or foreign, incurred in the
conduct of the Business;

     

    (d) liabilities
for salary, bonus, vacation pay, severance payments damages for wrongful
dismissal, or other compensation or benefits relating to Assignor’s employees
employed in the conduct of the Business; and

     

    (e) any
liability or claim for liability (whether in contract, in tort or otherwise, and
whether or not successful) related to any lawsuit or threatened lawsuit or claim
(including any claim for breach or non-performance of any contract) based upon
actions, omissions or events relating to the
Business.