Document:

f8k063010ex10i_ajacq4.htm

Exhibit 10.1

 

STOCK PURCHASE AGREEMENT

 

Dated as of June 30, 2010

 

By and Among

 

Erik Mark Levine

 

and

 

Laurence Jay Levine

 

and

 

Richard IL Anslow

 

and

 

Gregg E. Julia

 

and

 

AJ Acquisition Corp. IV, Inc.

 

  

  

  

TABLE OF CONTENTS

 

	SECTION 1. CONSTRUCTION AND INTERPRETATION	 3
	1.1. Principles of Construction	 3
	SECTION 2. THE TRANSACTION	 4
	2.1. Purchase Price	 4
	2.2. Transfer of Shares and Terms of Payment	 4
	2.3. Closing	 4
	SECTION 3. REPRESENTATIONS AND WARRANTIES   	 4
	3.1. Representations and Warranties of the Sellers	 4
	3.2. Covenants of the Sellers and the Company	 7
	SECTION 4. MISCELLANEOUS 	 9
	4.1. Expenses	 9
	4.2. Governing Law	 9
	4.3. Resignation of Old and Appointment ofNew Board of Directors and Officers	 9
	4.4. Disclosure	 10
	4.5. Notices	 10
	4.6. Parties in Interest    	 11
	4.7. Entire Agreement  	 11
	4.8. Amendments	 11
	4.9. Severability	 11
	4.10. Counterparts  	 11

 

  

  

  

 

STOCK PURCHASE AGREEMENT

 

This stock purchase agreement ("Agreement"), dated as of June 30, 2010, is entered into by and among AJ Acquisition Corp. IV, Inc. ("AJ Acquisition" or the "Company") and Richard I. Anslow and Gregg E. Jaclin, (each a "Seller" and collectively, the "Seller"), and Erik Mark Levine ("Erik Levine") and Laurence Jay Levine ("Laurence Levine") (collectively the "Purchasers" and together with the Company and the Sellers, the "Parjes").

 

WITNESSETH:

 

WHEREAS, the Sellers, are shareholders of AJ Acquisition, a corporation organized and existing under the laws of the State of Nevada, who own and/or control in the aggregate 100,000 shares of the Company, which represents 100% of the issued and outstanding common shares of the Company; and

 

WHEREAS, the Purchasers desires to acquire all of such shares of the Company.

 

NOW, THEREFORE, in consideration of the premises and of the covenants, representations, warranties and agreements herein contained, the Parties have reached the following agreement with respect to the sale by the Sellers of such common stock of the Company to the Purchasers:

 

SECTION I. CONSTRUCTION AND INTERPRETATION 

 

1.1. Principles of Construction.

 

(a) All references to Articles, Sections, subsections and Appendixes are to Articles, Sections, subsections and Appendixes in or to this Agreement unless otherwise specified. The words "hereof," "herein" and "hereunder" and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The term "including" is not limiting and means "including without limitations."

 

(b) In the computation of periods of time from a specified date to a later specified date, the word "from" means "from and including;" the words "to" and "until" each mean "to but excluding;" and the word "through" means "to and including."

 

(c) The Table of Contents hereto and the Section headings herein are for convenience only and shall not affect the construction hereof.

 

(d) This Agreement is the result of negotiations among and has been reviewed by each Party's counsel. Accordingly, this Agreement shall not be construed against any Party merely because of such Party's involvement in its preparation.

 

(e) Wherever in this Agreement the intent so requires, reference to the neuter, masculine or feminine shall be deemed to include each of the other, and reference to either the singular or the plural shall be deemed to include the other.

 

  

  

  

 

SECTION 2. THE TRANSACTION

 

2.1. Purchase Price.

 

The Sellers hereby agree to sell to the Purchasers, and the Purchasers, in reliance on the representations and warranties contained herein, and subject to the terms and conditions of this Agreement, agrees to purchase from the Sellers 100,000 common shares of the capital stock of AJ Acquisition (the "Acquired Shares") for a total purchase price of $40,000 (the "Purchase Price"), payable in full to the Sellers according to the terms of this Agreement, in United States currency as directed by the Sellers at Closing.

 

2.2. Transfer of Shares and Terms of Payment.

 

In consideration for the transfer of the Acquired Shares by the Sellers to the Purchasers, the Purchasers shall pay the Purchase Price in accordance with the terms of this Agreement. Transfer of the shares and payment thereof shall be in the following manner:

 

i) Upon execution of this Agreement, the Purchasers shall each pay $20,000 for a total of $40,000 ("Payment") to Anslow & Jaclin, L.LP (the "Escrow Agent").

 

ii) Simultaneously with the transfer of the Payment, the Sellers shall deliver to the Escrow Agent, the certificates for the Acquired Shares duly endorsed for transfer or with executed stock powers attached to be released and delivered to the Purchasers upon receipt of the Payment by the Escrow Agent, as follows:

 

Erik Levine                  60,000 shares

Laurence Levine        40,000 shares

 

2.3. Closing.

 

Subject to the terms and conditions of this Agreement, the Closing shall take place by wire transfer and overnight mail on or before 5:00 P.M. EST on June 30, 2010 (the "Closing Date").

 

SECTION 3. REPRESENTATIONS AND WARRANTIES

 

3.1. Representations and Warranties of the Sellers and the Company. The Sellers and the Company hereby make the following representations and warranties to the Purchasers:

 

3.1.1 The Company is a corporation duly organized and validly existing under the laws of the State of Nevada and has all corporate power necessary to engage in all transactions in which ft has been involved, as well as any general business transactions in the future that may be desired by its directors.

 

3.1.2 The Company is in good standing with the Secretary of State of Nevada.

 

3.1.3 Prior to or at Closing, all of the Company's outstanding debts and obligations shall be paid off (at no expense or liability to the Purchasers) and the Seller shall provide evidence of such payoff to the Purchasers' reasonable satisfaction. Should the Purchasers discover any obligation of the Company that was not paid prior to the Closing Date, the Sellers undertake to indemnify the Purchasers for any and all such liabilities, whether outstanding or contingent at the time of Closing.

 

  

  

  

 

3.1.4 The Company will have no assets or liabilities at the Closing Date.

 

3.1.5 The Company is not subject to any pending or threatened litigation, claims or lawsuits from any party, and there are no pending or threatened proceedings against the Company by any federal, state or local government, or any department, board, agency or other body thereof.

 

3.1.6 The Company is not a party to any contract, lease or agreement which would subject it to any performance or business obligations after the Closing.

 

3.1.7 The Company does not awn any real estate or any interests in real estate.

 

3.1.8 The Company is not liable for any taxes, including income, real or personal property taxes, to any governmental or state agencies whatsoever. The Company has timely filed all income, real or personal property, sales, use, employment or other governmental tax returns or reports required to be filed by it with any federal, state or other governmental agency and all taxes required to be paid by the Company in respect of such returns have been paid in full. None of such returns are subject to examination by any such taxing authority and the Company has not received notice of any intention to require the Company to file any additional tax returns in any jurisdiction to which it may be subject.

 

3.1.9 The Company, to the actual knowledge of Sellers, is not in violation of any provision of laws or regulations of federal, state or local government authorities and agencies.

 

3.1.10 The Sellers either are or on the Closing Date will be, the lawful owners of record of the Acquired Shares, and the Sellers presently have, and will have at the Closing Date, the power to transfer and deliver the Acquired Shares to the Purchasers in accordance with the terms of this Agreement. The delivery to the Purchasers of certificates evidencing the transfer of the Acquired Shares pursuant to the provisions of this Agreement will transfer to the Purchasers good and marketable title thereto, free and clear of all liens, encumbrances, restrictions and claims of any kind.

 

3.1.11 There are no authorized shares of the Company other than 100,000,000 common shares and 10,000,000 preferred shares, and there are no issued and outstanding shares of the Company other than 100,000 common shares. Sellers at the Closing Date will have full and valid title to the Acquired Shares, and there will be no existing impediment or encumbrance to the sale and transfer of the Acquired Shares to the Purchasers; and on delivery to the Purchasers of the Acquired Shares being sold hereby, all of such Shares shall be free and clear of all liens, encumbiances, charges or assessments of any kind; such Shares will be legally and validly issued and fully paid and non-assessable shares of the Company's common stock; and all such common stock has been issued under duly authorized resolutions of the Board of Directors of the Company.

 

3.1.12 All issuances of the Company of the shares in their common stock in past transactions have been legally and validly effected, without violation of any preemptive rights, and all of such shares of common stock are fully paid and non-assessable.

 

  

  

  

3.1.13 There are no outstanding subscriptions, options, warrants, convertible securities or rights or commitments of any nature in regard to the Company's authorized but unissued common stock or any agreements restricting the transfer of outstanding or authorized but unissued common stock. There are no shareholders agreements, voting agreements or other similar agreements with respect to the Company's capital stock to which the Company is a party or, to the knowledge of the Company, between or among any of the Company's shareholders.

 

3.1.14 There are no outstanding judgments, liens or any other security interests filed against the Company or any of its properties.

 

3.1.15 The Company has no subsidiaries.

 

3.1.16 The Company has no employment contracts or agreements with any of its officers, directors, or with any consultants; and the Company has no employees or other such parties.

 

3.1.17 The Company has no insurance or employee benefit plans whatsoever. 3.1.18 The Company is not in default under any contract, or any other document.

 

3.1.19 The Company has no outstanding powers of attorney and no obligations concerning the performance of the Sellers concerning this Agreement.

 

3.1.20 The execution and delivery of this Agreement, and the subsequent closing thereof, will not result in the breach by the Company or the Sellers of (i) any agreement or other instrument to which they are or have been a party or (it) the Company's Articles of Incorporation or Bylaws.

 

3.1.21 All financial and other Information which the Company and/or the Sellers furnished or will furnish to the Purchasers, including information with regard to the Company and/or the Sellers contained in the SEC filings filed by the Company since its inception (i) is true, accurate and complete as of its date and in all material respects except to the extent such information is superseded by information marked as such, (ii) does not omit any material fact, not misleading and (iii) presents fairly the financial condition of the organization as of the date and for the period covered thereby.

 

3.1.22 The common stock of the Company is registered under Section 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and there are no proceedings pending to revoke or terminate such registration. Since the date of the common stock's registration under the Exchange Act, the Company has filed all reports with the Securities and Exchange Commission required to be filed by the Exchange Act, including its Quarterly Report on Form 10-Q for the first quarter of 2010, and all such reports were filed timely.

 

The representations and warranties herein by the Sellers shall be true and correct in all material respects on and as of the Closing Date hereof with the same force and effect as though said representations and warranties had been made on and as of the Closing Date,

 

  

  

  

 

The representations and warranties made above shall survive the Closing Date and shall expire for all purposes in the date numerically corresponding to the Closing Date in the twelfth month after the Closing Date.

 

3.2. Covenants of the Sellers and the Company.

 

From the date of this Agreement and until the Closing Date, the Sellers and the Company covenant the following:

 

3.2.1 The Sellers will, to the best of their respective abilities, preserve intact the current status of the Company as an issuer registered under Section 12(g) of the 1934 Exchange Act.

 

3.2.2 The Sellers will furnish Purchasers with all corporate records and documents, such as Articles of Incorporation and Bylaws, minute books, stock books, or any other corporate document or record (including financial and bank documents, books and records) requested by the Purchasers.

 

3.2.3 The Company will not enter into any contract or business transaction, merger or business combination, or incur any further debts or obligations without the express written consent of the Purchasers.

 

3.2.4 The Company will not amend or change its Articles of Incorporation or Bylaws, or issue any further shares or create any other class of shares in the Company without the express written consent of the Purchasers.

 

3.2.5 The Company will not issue any stock options, warrants or other rights or interests in or to its shares without the express written consent of the Purchasers.

 

3.2.6 The Sellers will not encumber or mortgage any right or interest in their shares of the common stock being sold to the Purchasers hereunder, and also they will not transfer any rights to such shares of the common stock to any third party whatsoever.

 

3.2.7 The Company will not declare any dividend in cash or stock, or any other benefit

 

3.2.8 The Company will not institute any bonus, benefit, profit sharing, stock option, pension retirement plan or similar arrangement.

 

3.2.9 At Closing, the Company and the Sellers will obtain and submit to the Purchasers resignations of current officers and directors.

 

3.2.10 The Sellers agree to indemnify the Purchasers against and to pay any loss, damage, expense or claim or other liability incurred or suffered by the Purchasers by reason of the breach of any covenant or inaccuracy of any warranty or representation contained in this Agreement.

 

3.3 Representations and Warranties of the Purchasers. The Purchasers hereby makes the following representations and warranties to the Sellers:

 

  

  

  

 

3.3.1 The Purchasers have the requisite power and authority to enter into and perform this Agreement and to purchase the shares being sold to it hereunder. The execution, delivery and performance of this Agreement by such Purchasers and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action, and no further consent or authorization of such Purchasers are required. This Agreement has been duly authorized, executed and delivered by such Purchasers and constitutes, or shall constitute when executed and delivered, a valid and binding obligation of such Purchasers enforceable against such Purchasers in accordance with the terms thereof.

 

3.3.2 The Purchasers are, and will be at the time of the execution of this Agreement, an "accredited investor", as such term is defined in Regulation D promulgated by the Commission under the Securities Act of 1933, as amended (the "1933 Act"), is experienced in investments and business matters, has made investments of a speculative nature and has purchased securities of United States publicly-owned companies in the past and, with its representatives, has such knowledge and experience in financial, tax and other business matters as to enable such Purchasers to utilize the information made available by the Company to evaluate the merits and risks of and to make an informed investment decision with respect to the proposed purchase, which represents a speculative investment. The Purchasers have the authority and is duly and legally qualified to purchase and own shares of the Company. The Purchasers are able to bear the risk of such investment for an indefinite period and to afford a complete loss thereof. The information set forth on the signature page hereto regarding the Purchasers is accurate.

 

3.3.3 On the Closing Date, such Purchasers will purchase the Acquired Shares pursuant to the terms of this Agreement for its own account for investment only and not with a view toward, or for resale in connection with, the public sale or any distribution thereof.

 

3.3.4 The Purchasers understand and agree that the Acquired Shares have not been registered under the 1933 Act or any applicable state securities laws, by reason of their Issuance in a transaction that does not require registration under the 1933 Act (based in part on the accuracy of the representations and warranties of the Purchasers contained herein), and that such Acquired Shares must be held indefinitely unless a subsequent disposition is registered under the 1933 Act or any applicable state securities laws or is exempt from such registration. In any event, and subject to compliance with applicable securities laws, the Purchasers may enter Into lawful hedging transactions in the course of hedging the position they assume and the Purchasers may also enter into lawful short positions or other derivative transactions relating to the Acquired Shares, or interests in the Acquired Shares, and deliver the Acquired Shares, or interests in the Acquired Shares, to close out their short or other positions or otherwise settle other transactions, or loan or pledge the Acquired Shares, or interests in the Acquired Shares, to third parties who in turn may dispose of these Acquired Shares.

 

3.3.5 The Acquired Shares shall bear the following or similar legend;

 

"THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE

 

 

 

 

 

 

 

REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED SUNDER SAID ACT OR (H) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES."

 

3.3.6 The offer to sell the Acquired Shares was directly communicated to such Purchasers by the Company. At no time were such Purchasers presented with or solicited by any leaflet, newspaper or magazine article, radio or television advertisement, or any other form of general advertising or solicited or invited to attend a promotional meeting otherwise than in connection and concurrently with such communicated offer.

 

3.3.7 Such Purchasers represents that the foregoing representations and warranties are true and correct as of the date hereof and, unless such Purchasers otherwise notifies the Company prior to the Closing Date shall be true and correct as of the Closing Date.

 

3.3.8 The foregoing representations and warranties shall survive the Closing Date and for a period of one year thereafter.

 

Section 4. Miscellaneous

 

4.1. Expenses.

 

Each of the Parties shall, bear his own expenses in connection with the transactions contemplated by this Agreement.

 

4.2. Governing Law.

 

The interpretation and construction of this Agreement, and all matters relating hereto, shall be governed by the laws of the State of Nevada applicable to agreements executed and to be wholly performed solely within such state.

 

4.3. Resignation of Old and Appointment of New Board of Directors and Officers.

 

The Company and the Sellers shall take such corporate action(s) required by AI Acquisition's Articles of Incorporation and/or Bylaws to (a) appoint the below named persons to their respective positions, to be effective upon the filing and effectiveness of a Schedule 14f-1 Information Statement, and (b) obtain and submit to the Purchasers, together with all required corporate action(s) the resignation of the current board of directors, and any and all corporate officers and check signers as of the Closing Date.

 

	 	Name	Position
	 	Erik Mark Levine	Director, President and CEO

 

  

  

  

 

4.4. Disclosure.

 

The Sellers and the Company agree that they will not make any public comments, statements, or communications with respect to, or otherwise disclose the execution of this Agreement or the terms and conditions of the transactions contemplated by this Agreement without the prior written consent of the Purchasers, which consent shall not be unreasonably withheld.

 

4.5. Notices.

 

Any notice or other communication required or permitted under this Agreement shall be sufficiently given if delivered in person or sent by facsimile or by overnight registered mail, postage prepaid, addressed as follows:

 

If to Sellers, to:

 

Richard I. Anslow

Gregg Jaclin

c/o Anslow & Jaclin, LLP 

195 Route 9, Suite 204 Manalapan, NJ 07726

 

If to the Company:

 

Al Acquisition Corp. IV, Inc. 

195 Route 9, Suite 204

Manalapan, NJ 07726

 

With a copy to (which shall not constitute notice):

 

Gregg E. Jaclin, Esq. 

Anslow & Jaclin, LLP 

195 Route 9, Suite 204 

Manalapan, NJ 07726

 

If to the Purchasers, to:

 

Erik Mark Levine

2743 Sandalwood Avenue 

Henderson, NV 89074

 

Laurence Jay Levine 

7118 Montrico Drive 

Boca Raton, FL 33433

 

With a copy to (which shall not constitute notice):

 

Or such other address or number as shall be furnished in writing by any such Party, and such notice or communication shall, if properly addressed, be deemed to have been given as of the date so delivered or sent by facsimile.

 

  

  

  

 

4.6. Parties in Interest.

 

This Agreement may not be transferred, assigned or pledged by any Party hereto, other than by operation of law. This Agreement shall be binding upon and shall inure to the benefit of the Parties hereto and their respective heirs, executors, administrators, successors and permitted assigns.

 

4.7. Entire Agreement.

 

This Agreement and the other documents referred to herein contain the entire understanding of the Parties hereto with respect to the subject matter contained herein. This Agreement shall supersede all prior agreements and understandings between the Parties with respect to the transactions contemplated herein.

 

4.8. Amendments.

 

This Agreement may not be amended or modified orally, but only by an agreement in writing signed by the Parties.

 

4.9. Severability.

 

In case any provision in this Agreement shall be held invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions hereof will not in any way be affected or impaired thereby.

 

4.10. Counterparts.

 

This Agreement may be executed in any number of counterparts, including counterparts transmitted by telecopier, PDF or facsimile transmission, any one of which shall constitute an original of this Agreement. When counterparts of copies have been executed by all parties, they shall have the same effect as if the signatures to each counterpart or copy were upon the same document and copies of such documents shall be deemed valid as originals. The Parties agree that all such signatures may be transferred to a single document upon the request of any Party.

 

[-signature page follows-J

  

  

  

 

In Witness Whereof, each of the Parties hereto has caused its/his name to be hereunto subscribed as of the day and year first above written.

 

	 	Company:	 
	 	 	 
	 	AJ Acquisition Corp. IV, Inc.	 
	 	 	 	 
	
 

	
By: 

	/s/ Richard I. Anslow	 
	 	 	Name: Richard I. Anslow	 
	 	 	Title: Chief Executive Officer	 
	 	 	 	 

	 	Sellers:	 
	 	 	 	 
	
 

	
By: 

	/s/ Richard I. Anslow	 
	 	 	Name: Richard I. Anslow, Individually	 
	 	 	 	 
	 	By:	/s/ Gregg E. Jaclin	 
	 	 	Name: Gregg E. Jaclin	 

 

 

	 	Purchasers:	 
	 	 	 	 
	
 

	
By: 

	/s/ Erik Mark Levine	 
	 	 	Name: Erik Mark Levine, Individually	 
	 	 	 	 
	 	By:	/s/ Laurence Jay Levine	 
	 	 	Name: Laurence Jay Levine, Individuallyf8k062510ex10i_volcan.htm

 

Exhibit 10.1

 

Volcan Australla Corporation Pty Ltd

ACN 131 553 341

Level 34, 50 Bridge Street, Sydney NSW 2000

Tel: (02) 8216-0777 Fax: (02) 8216-0788

 

25 June 2010 

 

13 Tammuz 5770

The Directors

Australian Gold Investments Limited

Level 34, 50 Bridge St 

SYDNEY NSW 2000

 

Letter agreement between Volcan Australia Corporation Pty Ltd and Australian Gold Investments Limited ACN 124 873 507

 

Volcan Australia Corporation Pty Ltd (Volcan Australia) is the registered holder of the exploration licences set out in the Schedule (Tenements). Volcan Australia is a wholly-crooned subsidiary of Volcan Holdings, Inc. (Volcan Holdings), a company listed on the OTC Bulletin Board operated by the Financial industry Regulatory Authority. Inc, in the USA.

 

Australian Gold Investments Limited (AGV) is a minerals exploration company.

 

AGV proposes to earn interests in the Tenements through an issue of shares and options (Proposed Transaction). The parties have entered into this agreement (Letter Agreement) to set cut the material terms and conditions of the Proposed Transaction. The parties intend lo be bound by this Letter Agreement but also intend to have its terms restated in a full form farm-in joint venture agreement (Farm-In Agreement) which will not be different in effect from but may be more expansive and precise than this Letter Agreement.

 

The parties agree on the following terms and conditions:

 

1.         Key provisions

 

AGV will purchase an 80% interest in the Tenements by;

 

	
(i)  

	
Issuing 65 million FPO shares in AGV to Volcan Holdigs;

 

	
(ii)  

	
Issuing 65 million 5 year options to purchase FPO shares in AGV at an exercise price of 5c per share to Volcan Holdings;

 

	
(iii)  

	
Agreeing to assign to Volcan a $1 per ton royalty on production from the Tenements. This royalty will be either in USD Of AUD depending on whichever is the higher, and will increase at every July 1 in accordance with the CPI, beginning from July 1 2011: and

 

	
(iv)  

	
Agreeing to keep the Tenements in good standing.

 

2.         Announcements

 

No announcement or other csclosure may be made concerning the contents of this Letter Agreement, the Farm-In Agreement or any ancillary matter except in each of the fdlovArig cases:

 

	
(a)  

	
by mutual written consent of the parties;

 

 

  

1

  

 

	
(b)  

	
as required by law or by a stock exchange on which the party's shares (or that of its holding cornpany) are listed;

 

	
(c)  

	
to a party's professional advisors and financiers, or

 

	
(d)  

	
any disclosure document or other fundraising document issued by Volean Australia or Volcan Holdings to raise capital.

 

3.         Confidentiality

 

	
(a)  

	
Subject to clause 3(c), each party must keep any information of which it becomes aware in connection with this Letter Agreement, confidential.

 

	
(b)  

	
A party may make any disclosure In relation to this Letter Agreement:

 

	
(i)  

	
to any professional advisor, financial advisor, banker, financier or auditor where that person is obliged to keep the information confidential;

 

	
(ii)  

	
to comply with any applicable law or any requirement of any regulatory body, including the ASX;

 

	
(iii)  

	
to any of its employees to whom it is necessary to disclose the information;

 

	
(iv)  

	
to obtain the consent of any third party to any term of, or to any act pursuant to, this Letter Agreement;

 

	
(v)  

	
to enforce its rights or to defend any claim or action under this Letter Agreement;

 

	
(vi)  

	
in a manner authorised by this Letter Agreement and

 

	
(vii)  

	
where the information has come into pubic domain through no fault of that Party.

 

4.         Legally binding nature of this Letter Agreement

 

	
(a)  

	
Subject to any relevant regulatory and shareholder approval, this Letter Agreement is intended to create legally binding obligations on the parties and will bind each party when executed by that party.

 

	
(b)  

	
The parties acknowledge that this Letter Agreement is to be replaced by the Farm-in Agreement that will be fuller, and more formal in form but will be no different in effect and will reflect this document. Until this Letter Agreement is so replaced, it is the intention of the parties that this Letter Agreement is enforceable, that this Letter Agreement must be treated as certain, clear and complete and, as such, binding.

 

5.         Notices

 

	
(a)  

	

Any notice or communication given to a party under this Letter Agreement is only given If it is in inviting and sent in one of the following ways:

 

	
(i)  

	
delivered or posted to that party at Its address as set out below; or 

 

	
(ii)  

	
faxed to that party at its fax number set out below.

 

 

	 Volcan Australia
	 Name:	 Volcan Australia Corporation Pty Ltd
	 Address: 	 Level 34, 50 Bridge Street Sydney NSW 2000
	 Fax No:	 (02) 8216-0788
	 Attention:	 Sholom Feldman

  

  

2

  

                 

 

	 AGV
	 Name:	 AGV Limited
	 Address: 	 Level 34, 50 Bridge Street Sydney NSW 2000
	 Fax No:	 (02) 8216-0788
	 Attention:	 The Company Secretary

 

6.         Stamp duty

 

AGV will pay any stamp duty due in respect of this Letter Agreement. 

 

7.         Amendments

 

This Letter Agreement may only be varied by a document signed by or on behalf of the parties.

 

8.         Assignment

 

A party cannot assign, novate or otherwise transfer any of its rights or obligations under this Letter Agreement without the prior written consent of the other party.

 

9.         Waiver

 

A provision of, or right created under, this Letter Agreement may not be;

 

(a) waived except in writing signed by the party granting the waiver; or

 

(b) varied except in writing signed by the parties.

 

10.       Consents

 

Any consent referred to in, or required under, this Letter Agreement from any party may not be unreasonably withheld, unless this Letter Agreernent expressly provides for that consent to be grim in that party's absolute discretion.

 

11.       Counterparts

 

(a)       The parties may execute this Letter Agreement in two or more counterparts.

 

(b)       The parties deem that each counterpart is an original.

 

(c)       All counterparts together constitute one instrument.

 

12.       Entire agreement

 

This Letter Agreement constitutes the entire agreement of the parties and supersedes all prior discussions, undertakings and agreements.

 

13.       No representation or reliance

 

	
(a)  

	
The parties acknowledge that no party (nor any persen acting on a party's behalf) has made any representation or other inducement to it to enter into this Letter Agreement, except for representations or inducements expressly set out in this Letter Agreement.

 

	
(b)  

	
Each party acknowledges and confirms that it has not entered into this Letter Agreement in reliance on any representation or other inducement by or on behalf of any other party except for representations or inducements expressly se; cut in this Letter Agreement.

 

 

  

3

  

 

14.      Costs

 

Each party is liable for the costs and expenses incurred by it in connection with the negotiation, entering into and completion of this document and the Farm-in Agreement.

 

15.      GST

 

If any payment made by one party to any other party under or relating to this document constitutes consideration for a taxable supply for the purposes of GST or any similar tax, the amount to be paid for the supply will be increased so that the net amount retained by the supplier after payment of that GST is the same as if the supplier was not liable to pay GST in respect of that supply. This provision is subiect to any other agreement regarding the payment of GST on specific supplies and includes payments for supplies relating to the breach or termination of, and indemnifies arising from, this document.

 

16.      Governing law and lurisdiPtion

 

 

	
(a)  

	
This Letter Agreement is governed by, and will be construed according to the laws of the State of New South Wales, Australia.

 

	
(b)  

	
The parties submit to the non-exclusive jurisdiction of the courts of New South Wales.

 

	
(c)  

	
The parties agree that any dispute regarding the preparation. interpretation and subject matter of this Letter Agreement shall be referred to and reserved through a process of arbitration, the determination of such process shall be binding on the parties.

 

 

Please evidence your agreement to the terms contained in this Letter Agreement by signing this Letter Agreement at the place indicated below.

 

	Executed by Volcan Australia Corporation	)
	Pty Limited ACN 131 553 341 in	) 
	accordance with section 127 of the	) 
	Corporations Act 2001 (Cth):	) 

 

	/s/ Sholom Feldman	 	/s/ Pnina Feldman	 
	Director	 	Director/ Secretary	 
	 	 	 	 
	Sholom Feldman	 	Pnina Feldman	 
	(Print) Full Name	 	(Print) Full Name	 

 

 

 

	Executed by Australian Gold Investments	)
	Limited ACN 124 873 507 in accordance	) 
	with section 127 of the Corporations Act	) 
	2001 (Cth):	 

 

	/s/ Sholom Feldman	 	/s/ Pnina Feldman	 
	Director	 	Director/ Secretary	 
	 	 	 	 
	Sholom Feldman	 	Pnina Feldman	 
	(Print) Full Name	 	(Print) Full Name	 

 

 

  

4

  

 

 

 

	Signed by Volcan Holdings Inc in the	) 
	presence of:	) 

 

	/s/ Pnina Feldman	 	/s/ Sholom Feldman	 
	Signature of Witness 	 	Signature of	 
	 	 	 	 
	Pnina Feldman	 	Sholom Feldman	 
	(Print) Name of Witness	 	 	 

 

 

 

 

 

  

5

  

 

Schedule

Exploration Licences

 

EPM18138, EPM18139, EPM18140, EPM18463 and EPM18464

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}]]