Document:

Exhibit107-Guaranty

RECOURSE CARVE-OUT GUARANTY AGREEMENT 
[PORTFOLIO]
This GUARANTY AGREEMENT (this “Guaranty”) is made as of January 24, 2014, by GRIFFIN CAPITAL ESSENTIAL ASSET REIT, INC., a Maryland corporation (“Guarantor”), in favor of THE VARIABLE ANNUITY LIFE INSURANCE COMPANY, a Texas corporation (“VALIC”), and NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA., a Pennsylvania corporation (“NUF”), as co-lenders (collectively, “Lender”).
1.Loan and Notes.  This Guaranty is executed in connection with five (5) Loans (defined below).  The collective principal amount of the Loans is $110,640,000.   Concurrently herewith, Lender is making loans to (i) The GC Net Lease (Warren) Investors, LLC, a Delaware limited liability company (“GC Warren”) evidenced by that certain Promissory Note payable to the order of VALIC in the original principal amount referenced therein, and that certain Promissory Note payable to the order of NUF in the original principal amount referenced therein, each of even date herewith (collectively, the “New Jersey Notes”), which are collectively secured by that certain First Mortgage, Security Agreement, Fixture Filing, and Assignment of Leases and Rents (New Jersey) executed by GC Warren for the benefit of Lender (the “New Jersey Security Instrument”), covering certain real property more particularly described therein, (ii) The GC Net Lease (Beaver Creek) Investors, LLC, a Delaware limited liability company (“GC Beaver Creek”) evidenced by that certain Promissory Note payable to the order of VALIC in the original principal amount referenced therein, and that certain Promissory Note payable to the order of NUF in the original principal amount referenced therein, each of even date herewith (collectively, the “Ohio Notes”), which are collectively secured by that certain First Mortgage, Security Agreement, Fixture Filing, and Assignment of Leases and Rents (Ohio) executed by GC Beaver Creek for the benefit of Lender (the “Ohio Security Instrument”), covering certain real property more particularly described therein, (iii) The GC Net Lease (Houston Enclave) Investors, LLC, a Delaware limited liability company (“GC Houston Enclave”) evidenced by that certain Promissory Note payable to the order of VALIC in the original principal amount referenced therein, and that certain Promissory Note payable to the order of NUF in the original principal amount referenced therein, each of even date herewith (collectively, the “Texas Notes”), which are collectively secured by that certain First Deed of Trust, Security Agreement, Fixture Filing, and Assignment of Leases and Rents (Texas) executed by GC Houston Enclave for the benefit of Lender (the “Texas Security Instrument”), covering certain real property more particularly described therein, (iv)  The GC Net Lease (Charlotte) Investors, LLC, a Delaware limited liability company (“GC Charlotte”) evidenced by that certain Promissory Note payable to the order of VALIC in the original principal amount referenced therein, and that certain Promissory Note payable to the order of NUF in the original principal amount referenced therein, each of even date herewith (collectively, the “North Carolina Notes”), which are collectively secured by that certain First Deed of Trust, Security Agreement, Fixture Filing, and Assignment of Leases and Rents (North Carolina) executed by GC Charlotte for the benefit of Lender (the “North Carolina Security Instrument”), covering certain real property more particularly described therein, and (v) The GC Net Lease (Phoenix Chandler) Investors, LLC, a Delaware limited liability company (“GC Phoenix Chandler”) evidenced by that certain Promissory Note payable to the order of VALIC in the original principal amount referenced therein, and that certain Promissory Note payable to the order of NUF in the original principal amount referenced therein, each of even date herewith (collectively, the “Arizona Notes”), which are collectively secured by that certain First Deed of Trust, Security Agreement, Fixture Filing, and Assignment of Leases and Rents (Arizona) executed by GC Phoenix Chandler for the benefit of Lender (the “Arizona Security Instrument”), covering certain real property more particularly described therein.  GC Warren, GC Beaver Creek, GC Houston Enclave, GC Charlotte, and GC Phoenix Chandler are collectively referred to herein as the “Borrowers.”  The loans made to the Borrowers are collectively referred to as the “Loans.”  The New Jersey Notes, the Ohio Notes, the Texas Notes, the North Carolina Notes, and the Arizona Notes are collectively referred to herein as the “Notes.”  The New Jersey Security Instrument, the Ohio Security Instrument, the Texas Security Instrument, the North Carolina Security Instrument and the Arizona Security Instrument are collectively referred to herein as the “Security Instruments,” and, together with the Note and all other documents executed by Borrower evidencing and/or securing the Loans, “Loan Documents.” All capitalized terms used herein without definition shall have the meanings given to such terms in the Security Instruments.
2.    Purpose and Consideration.  The execution and delivery of this Guaranty by Guarantor is a condition to Lender’s willingness to make the Loan to Borrower, is made in order to induce Lender to make the Loan, and is made in recognition that Lender will be relying upon this Guaranty in making the Loan and performing any other obligations it may have under the Loan Documents.  Guarantor has a significant ownership interest in Borrower, and, accordingly, acknowledges that Guarantor will receive material direct and indirect benefit from Lender making the Loan to Borrower.
3.    Guaranty.  Guarantor hereby guarantees absolutely, primarily, and irrevocably, payment and performance of all obligations for which Borrower has, or may incur, personal liability to Lender under Section 18 of each of the Notes (collectively, the “Obligations”).
4.    Guaranty is Independent and Absolute.  The obligations of Guarantor hereunder are independent of the obligations of Borrower and of any other person who may become liable with respect to the Obligations.  Guarantor is jointly and severally liable with Borrower and with any other guarantor for the full and timely payment and performance of all of the Obligations.  Guarantor expressly agrees that a separate action or actions may be brought and prosecuted against Guarantor (or any other guarantor), whether or not any action is brought against Borrower, any other guarantor or any other person for any Obligations guaranteed hereby and whether or not Borrower, any other guarantor or any other persons are joined in any action against Guarantor.  Guarantor further agrees that Lender shall 

1

have no obligation to proceed against any security for the Obligations prior to enforcing this Guaranty against Guarantor, and that Lender may pursue or omit to pursue any and all rights and remedies Lender has against any person or with respect to any security in any order or simultaneously or in any other manner.  All rights of Lender and all obligations of Guarantor hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of the Notes or any other Loan Document, and (b) any other circumstances which might otherwise constitute a defense available to, or a discharge of Borrower in respect of, the Obligations.
5.    Authorizations to Lender.  Guarantor authorizes Lender, without notice or demand and without affecting Guarantor’s liability hereunder, from time to time (a) to renew, extend, accelerate or otherwise change the time for payment of, change, amend, alter, cancel, compromise or otherwise modify the terms of the Notes, including increasing the rate or rates of interest thereunder agreed to by Borrower, and to grant any indulgences, forbearances, or extensions of time; (b) to renew, extend, change, amend, alter, cancel, compromise or otherwise modify any of the terms, covenants, conditions or provisions of any of the Loan Documents or any of the Obligations; (c) to apply any security and direct the order or manner of sale thereof as Lender, in Lender’s discretion, may determine; (d) to proceed against Borrower, Guarantor or any other guarantor with respect to any or all of the Obligations without first foreclosing against any security therefor; (e) to exchange, release, surrender, impair or otherwise deal in any manner with, or waive, release or subordinate any security interest in, any security for the Obligations; (f) to release or substitute Borrower, any other guarantors, endorsers, or other parties who may be or become liable with respect to the Obligations, without any release being deemed made of Guarantor or any other such person; and (g) to accept a conveyance or transfer to Lender of all or any part of any security in partial satisfaction of the Obligations, or any of them, without releasing Borrower, Guarantor, or any other guarantor, endorser or other party who may be or become liable with respect to the Obligations, from any liability for the balance of the Obligations.
6.    Application of Payments Received by Lender.  Any sums of money Lender receives from or for the account of Borrower may be applied by Lender to reduce any of the Obligations or any other liability of Borrower to Lender, as Lender in Lender’s discretion deems appropriate.
7.    Waivers by Guarantor.  
(a)Guarantor hereby waives (1) presentment, demand, protest and notice of protest, notice of dishonor and of non-payment, notice of acceptance of this Guaranty, and diligence in collection; (2) notice of the existence, creation, or incurring of any new or additional Obligations under or pursuant to any of the Loan Documents; (3) any right to require Lender to proceed against, give notice to, or make demand upon a Borrower; (4) any right to require Lender to proceed against or exhaust any security or to proceed against or exhaust any security in any particular order; (5) any right to require Lender to pursue any remedy of Lender; (6) any right to direct the application of any security held by Lender; (7) any right of subrogation or to enforce any remedy which Lender may have against Borrower and any right to participate in any security now or hereafter held by Lender and any right to reimbursement from a Borrower for amounts paid to Lender by Guarantor at any time prior to the Indefeasible Payment in Full (as hereinafter defined) of all obligations of the Borrower under the Loan Documents and of all of the Obligations under this Guaranty; (8) benefits, if any, of Guarantor under any anti-deficiency statutes or single-action legislation or judicial interpretation thereof; (9) any defense arising out of any disability or other defense of a Borrower, including bankruptcy, dissolution, liquidation, cessation, impairment, modification, or limitation, from any cause, of any liability of a Borrower, or of any remedy for the enforcement of such liability; (10) any statute of limitations affecting the liability of Guarantor hereunder; (11) any right to plead or assert any election of remedies by Lender; (12) any other defenses available to a surety under applicable law; (13) notice of any adverse change in the financial condition of a Borrower or of any other fact that might increase Guarantor’s risk hereunder; (14) notice of any event of default under the Loan Documents; and (15) all other notices (except if such notice is specifically required to be given to Guarantor hereunder or under any Loan Document to which Guarantor is a party) and demands to which Guarantor might otherwise be entitled.  As used in this Guaranty, the term “Indefeasible Payment in Full” with respect to any obligations shall mean the payment in full in cash of all such obligations and the expiration of all applicable time periods regarding bankruptcy preference, fraudulent conveyance or other avoidance actions that may be applicable to the circumstances of payment of any or all of such obligations under any and all State and federal laws.
(b)    Guarantor hereby waives any right of subrogation Guarantor has or may have as against a Borrower with respect to the Obligations.  In addition, Guarantor hereby waives any right to proceed against Borrower, now or hereafter, for contribution, indemnity, reimbursement, and any other suretyship rights and claims, whether direct or indirect, liquidated or contingent, whether arising under express or implied contract or by operation of law, which Guarantor may now have or hereafter have as against Borrower with respect to the Obligations.  Guarantor also hereby waives any rights to recourse to or with respect to any asset of Borrower.  Guarantor agrees that in light of the immediately foregoing waivers, the execution of this Guaranty shall not be deemed to make Guarantor a “creditor” of any Borrower, and that for purposes of Sections 547 and 550 of the Bankruptcy Code Guarantor shall not be deemed a “creditor” of any Borrower.  Notwithstanding the foregoing, the waivers set forth in this subsection (b) shall only apply until the Indefeasible Payment in Full of all obligations of Borrower under the Loan Documents and of all of the Obligations under this Guaranty.

2

(c)    Guarantor waives all rights and defenses that Guarantor may have because the Borrower’s debt is secured by real property.  This means, among other things, (i) Lender may collect from the Guarantor without first foreclosing on any real or personal property collateral pledged by the Borrower; (ii) if Lender forecloses on any real property collateral pledged by the Borrower:  (A) the amount of the debt may be reduced only by the price for which that collateral is sold at the foreclosure sale, even if the collateral is worth more than the sale price; and (B) Lender may collect from the Guarantor, even if Lender, by foreclosing on the real property collateral, has destroyed any right the Guarantor may have to collect from the Borrower.  This is an unconditional and irrevocable waiver of any rights and defenses the Guarantor may have because the Borrower’s debt is secured by real property.
8.    Subordination by Guarantor.  Guarantor hereby agrees that any indebtedness of Borrower to Guarantor, whether now existing or hereafter created, shall be and is hereby subordinated to the indebtedness of Borrower to Lender under the Loan Documents until such time as the Indefeasible Payment in Full of all obligations of Borrower and all of the Obligations under this Guaranty.  At any time during which a Default or Event of Default shall exist under any of the Security Instruments, Guarantor shall not accept or seek to receive any amounts from Borrower on account of any indebtedness of Borrower to Guarantor.
9.    Bankruptcy Reimbursements.  Guarantor hereby agrees that if all or any part of the Obligations paid to Lender by Borrower or any other party liable for payment and satisfaction of the Obligations (other than Guarantor) are recovered from Lender in any bankruptcy proceeding, Guarantor shall reimburse Lender immediately on demand for all amounts of such Obligations so recovered from Lender, together with interest thereon at the default rate set forth in the Notes from the date such amounts are so recovered until repaid in full to Lender, and, for this purpose, this Guaranty shall survive repayment of the Loan.
10.    Net Worth Covenant.  At all times prior to the Indefeasible Payment in Full of all obligations of Borrower under the Loan Documents and of all Obligations under this Guaranty, Guarantor shall maintain a Net Worth in excess of $110,600,000.  Guarantor’s Net Worth shall be set forth in reasonable detail in the financial statements required to be delivered to Lender under this Guaranty.  The term “Net Worth” shall mean, as of a given date, (x) the total assets of Guarantor as of such date less (y) such Guarantor’s total liabilities as of such date, determined in accordance with generally accepted accounting principles, consistently applied.  
11.    Jurisdiction, Venue and Applicable Law.  Guarantor hereby submits itself to the jurisdiction and venue of any federal court located in the State of New York or any state court located in New York County, New York in connection with any action or proceeding brought for enforcement of Guarantor’s obligations hereunder, and hereby waives any and all personal or other rights under the law of any other country or state to object to jurisdiction within such locations for purposes of litigation to enforce such obligations.  Guarantor agrees that service of process upon Guarantor shall be complete upon delivery thereof in any manner permitted by law to Guarantor’s agent for service of process as designated in Section 12, below.  THIS GUARANTY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW) AND THE APPLICABLE LAWS OF THE UNITED STATES OF AMERICA.  ANY LEGAL SUIT, ACTION OR PROCEEDING AGAINST LENDER OR GUARANTOR ARISING OUT OF OR RELATING TO THIS GUARANTY MAY AT LENDER’S OPTION BE INSTITUTED IN ANY FEDERAL OR STATE COURT IN THE CITY OF NEW YORK, COUNTY OF NEW YORK, PURSUANT TO SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND GUARANTOR WAIVES ANY OBJECTIONS WHICH IT MAY NOW OR HEREAFTER HAVE BASED ON VENUE AND/OR FORUM NON CONVENIENS OF ANY SUCH SUIT, ACTION OR PROCEEDING.
12.    Service of Process.  GUARANTOR DOES HEREBY DESIGNATE AND APPOINT:
C T Corporation System  
111 Eighth Avenue 
13th Floor 
New York, NY  10011
AS ITS AUTHORIZED AGENT TO ACCEPT AND ACKNOWLEDGE ON ITS BEHALF SERVICE OF ANY AND ALL PROCESS WHICH MAY BE SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING IN ANY FEDERAL OR STATE COURT IN NEW YORK, NEW YORK, AND AGREES THAT SERVICE OF PROCESS UPON SAID AGENT AT SAID ADDRESS AND WRITTEN NOTICE OF SAID SERVICE MAILED OR DELIVERED TO GUARANTOR IN THE MANNER PROVIDED HEREIN SHALL BE DEEMED IN EVERY RESPECT EFFECTIVE SERVICE OF PROCESS UPON GUARANTOR, IN ANY SUCH SUIT, ACTION OR PROCEEDING IN THE STATE OF NEW YORK.  GUARANTOR (I) SHALL NOT CHANGE ITS DESIGNATED AGENT WITHOUT GIVING PRIOR WRITTEN NOTICE THEREOF TO LENDER AND HAVING RECEIVED LENDER’S PRIOR EXPRESS WRITTEN CONSENT TO SUCH REDESIGNATION, AND (II) SHALL PROMPTLY DESIGNATE A SUBSTITUTE AUTHORIZED AGENT WITH AN OFFICE IN NEW YORK, NEW YORK (WHICH SUBSTITUTE AGENT AND OFFICE SHALL BE DESIGNATED AS THE PERSON AND ADDRESS FOR SERVICE OF PROCESS)IF ITS AUTHORIZED AGENT CEASES TO HAVE AN OFFICE IN NEW YORK, NEW YORK OR IS DISSOLVED WITHOUT LEAVING A SUCCESSOR OR REFUSES TO CONSENT TO SUCH DESIGNATION AS 

3

AUTHORIZED AGENT FOR GUARANTOR PURSUANT TO A WRITTEN CONSENT IN FORM AND SUBSTANCE SATISFACTORY TO LENDER.
In the event service of process in accordance with the foregoing is not possible after two weeks’ reasonable effort by Lender, Guarantor hereby consents to service by publication in a newspaper of general circulation in The City of New York, New York County, New York.
13.    Financial Statements.  Within ninety (90) days after the end of the period covered thereby, Guarantor shall deliver to Lender Guarantor’s quarterly unaudited and annual audited financial statements or, alternatively, written notice as and when such financial statements are publicly available, together with a website link to such financial statements.  If a weblink is provided, the financial statements must be accessible via such link without a password or user account.  At any time that Guarantor is not a publicly held company subject to the jurisdiction of the U.S. Securities and Exchange Commission, Guarantor shall also furnish to Lender copies of its federal and state income tax returns for the preceding year within ten (10) days of the filing thereof with the appropriate governmental agencies.
14.    Assignability.  This Guaranty shall be binding upon Guarantor and Guarantor’s heirs, representatives, successors, and assigns and shall inure to the benefit of Lender and Lender’s successors and assigns.  This Guaranty shall follow the Notes and other Loan Documents which are for the benefit of Lender, and, in the event the Notes and other Loan Documents are negotiated, sold, transferred, assigned, or conveyed by Lender in whole or in part, this Guaranty shall be deemed to have been sold, transferred, assigned, or conveyed by Lender to the holder or holders of the Notes and other Loan Documents, with respect to the Obligations contained therein, and such holder or holders may enforce this Guaranty as if such holder or holders had been originally named as Lender hereunder.
15.    Payment of Costs of Enforcement.  In the event any action or proceeding is brought to enforce this Guaranty, Guarantor shall pay all costs and expenses of Lender in connection with such action or proceeding, including, without limitation, all attorneys’ fees incurred by Lender.
16.    Notices.  Any notice required or permitted to be given by Guarantor or Lender under this Guaranty shall be in writing and will be deemed given (a) upon personal delivery, (b) on the first Business Day after receipted delivery to a courier service which guarantees next-Business Day delivery, or (c) on the third business day after mailing, by registered or certified United States mail, postage prepaid, in any case to the appropriate party at its address set forth below:
If to Guarantor:
2121 Rosecrans Avenue, Suite 3321
El Segundo, California 90245
Attention:  Mr. Joseph E. Miller
with a copy to:
Griffin Capital Corporation 
790 Estate Drive, Suite 180 
Deerfield, IL 60015 
Attention:  Mary Higgins, Esq.
If to Lender:
The Variable Annuity Life Insurance Company 
National Union Fire Insurance Company of Pittsburgh, PA. 
c/o AIG Investments 
777 South Figueroa Street, 16th Floor 
Los Angeles, California 90017 
Attn:  Director-Mortgage Lending and Real Estate
with a copy to:
Greenberg Traurig, LLP 
1200 17th Street, 24th Floor 
Denver, Colorado 80202 
Attn:  Peter C. Kelley, Esq.
Either party may change such party’s address for notices or copies of notices by giving notice to the other party in accordance with this Section 16.
17.    Reinstatement of Obligations.  If at any time all or any part of any payment made by Guarantor or received by Lender from Guarantor under or with respect to this Guaranty is or must be rescinded or returned for any reason whatsoever (including, but not limited to, the insolvency, bankruptcy or reorganization of any Guarantor), then the obligations of Guarantor hereunder shall, to the extent 

4

of the payment rescinded or returned, and to the extent permitted by law, be deemed to have continued in existence, notwithstanding such previous payment made by Guarantor, or receipt of payment by Lender, and the obligations of Guarantor hereunder shall continue to be effective or be reinstated, as the case may be, as to such payment, all as though such previous payment by Guarantor had never been made.
18.    Severability of Provisions.  If any provision hereof or of any other Loan Document shall, for any reason and to any extent, be invalid or unenforceable, then the remainder of the document in which such provision is set forth, the application of the provision to other persons, entities or circumstances, and any other document referred to herein shall not be affected thereby but instead shall be enforceable to the maximum extent permitted by law.
19.    Joint and Several Obligation.  If Guarantor is more than one person or entity, then (a) all persons or entities comprising Guarantor are jointly and severally liable for all of the Obligations; (b) all representations, warranties, and covenants made by Guarantor shall be deemed representations, warranties, and covenants of each of the persons or entities comprising Guarantor; (c) any breach, default or Event of Default by any of the persons or entities comprising Guarantor hereunder shall be deemed to be a breach, default, or Event of Default of Guarantor; and (d) any reference herein contained to the knowledge or awareness of Guarantor shall mean the knowledge or awareness of any of the persons or entities comprising Guarantor.
20.    Waiver.  Neither the failure of Lender to exercise any right or power given hereunder or to insist upon strict compliance by Borrower, Guarantor, any other guarantor, or any other person with any of its obligations set forth herein or in any of the Loan Documents, nor any practice of Borrower or Guarantor at variance with the terms hereof or of any Loan Documents, shall constitute a waiver of Lender’s right to demand strict compliance with the terms and provisions of this Guaranty.
21.    Certain Waivers.  GUARANTOR, BY SIGNING THIS GUARANTY, AND LENDER, BY ACCEPTING IT, EACH KNOWINGLY, IRREVOCABLY, VOLUNTARILY AND INTENTIONALLY WAIVE TO THE FULLEST EXTENT NOT PROHIBITED BY APPLICABLE LAW ANY RIGHT EITHER MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY ACTION, PROCEEDING OR COUNTERCLAIM BASED ON THIS GUARANTY, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS GUARANTY OR ANY LOAN DOCUMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENT (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY HERETO.  THIS PROVISION IS A MATERIAL INDUCEMENT FOR LENDER AND GUARANTOR ENTERING INTO THE LOAN.
 [Balance of Page Intentionally Left Blank]

5

[SIGNATURE PAGE TO RECOURSE CARVE-OUT GUARANTY AGREEMENT (PORTFOLIO)]
IN WITNESS WHEREOF, Guarantor has executed this Guaranty as of the day and year first above written.
GUARANTOR:
   
GRIFFIN CAPITAL ESSENTIAL ASSET REIT, INC.,                                     a Maryland corporation,

By: /s/ Joseph E. Miller                
Joseph E. Miller, Chief Financial Officer

6ASSET PURCHASE AGREEMENT

ASSET PURCHASE AGREEMENT

THIS AGREEMENT is made effective as of the ____ day of _______________, 2014.

AMONG:

DANE ACQUISITION CORP., a corporation incorporated under the laws of the state of Nevada with an address of 500 McLeod Trail East - #5178, Bellingham, Washington, USA 98226.

(the “Purchaser”)

OF THE FIRST PART

AND:

DANE EXPLORATION INC., a corporation incorporated under the laws of the state of Nevada with an address of 500 McLeod Trail East - #5178, Bellingham, Washington, USA 98226.

(“Dane”)

OF THE SECOND PART

AND:

PORTUS HOLDINGS INC., a corporation incorporated under the laws of the state of Nevada with an address of 401 E Las Olas Blvd., Suite 1400, Ft. Lauderale, Florida, USA 33301.

(the “Vendor”)

OF THE THIRD PART

AND:

DAVID CHRISTIE, an individual with an address of 3577 – 349 West Georgia Street, Vancouver, British Columbia, Canada V6B 3Y4.

(the “Principal Shareholder”)

OF THE FOURTH PART

WHEREAS:

A.

The Vendor owns, operates and carries on the Business (as defined below).

B.

The Purchaser now wishes to purchase the assets of the Business (the “Purchased Assets”), which are set out in Schedule A and exclude the Excluded Assets (as defined below), and the Vendor has agreed to sell to the Purchaser the Purchased Assets on and subject to the terms and conditions of this Agreement.

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the foregoing and of the sum of $10.00 paid by the each party to the other, the receipt of which is hereby acknowledged, the parties hereto agree each with the other as follows:

1

1.

INTERPRETATION

1.1

Where used herein or in any amendments or Schedules hereto, the following terms will have the following meanings:

(a)

“Agreement” means this Asset Purchase Agreement, including all schedules, and all instruments supplemental to or in amendment or confirmation of this Agreement;

(b)

“Business” means the global, multilingual, cloud based food and beverage service online portal business owned and operated by the Vendor and as more particular described in the Vendor’s reports and registration statements filed with the SEC pursuant to the Exchange Act and the Securities Act, including, but not limited to, the Vendor’s Amendment No. 3 to the Vendor’s Registration Statement on Form S-1 (SEC File No. 333-186588) filed with the SEC on or about November 7, 2013;

(c)

“Closing Date” means February 12, 2014 or such other date as agreed in writing by the parties;

(d)

“Dane Financial Statements” means the audited financial statements for the year ended September 30, 2013, filed with the SEC;

(e)

“Dane Shares” means the 50,000,000 shares of the Purchaser’s common stock to be issued to the Vendor in accordance with the terms of this Agreement.

(f)

"Employment Agreements" means the employment, service and pension agreements of the Vendor set forth in Schedule C.

(g)

"Exchange Act" means the United States Securities Exchange Act of 1934.

(h)

"Excluded Assets" means those assets of the Vendor pertaining to the Business that will not be acquired by the Purchaser and set forth in Schedule F.

(j)

“Material Agreements” mean the material agreements of the Vendor set forth in Schedule E;

(k)

“MI 51-105” means Canadian Multilateral Instrument 51-105 – Issuers Quoted in the U.S. Over-The-Counter Markets;

(l)

“Permitted Encumbrances” mean the security interests granted by the Vendor and disclosed to the Purchaser, as listed in Schedule B;

(m)

“Principal Shares” means the 50,000,000 presently issued restricted shares in the common stock of Dane held by the Principal Shareholder;

(n)

“Purchased Assets” means all of the assets, property and undertaking, except for the Excluded Assets, primarily owned and used by the Vendor or held by it for use in, or in respect of the operation of, the Business including, without limitation the following properties and assets:

(i)

all fixed assets, machines, machinery, equipment (including, without limitation, manufacturing and quality control equipment and office equipment including computer equipment), fixtures, furniture, furnishings, vehicles and other tangible property, if any, used or held by the Vendor primarily in respect of the Business whether located in or on the premises of the Vendor or elsewhere, including, without limitation, those listed in Schedule A;

2

(ii)

all lands and premises and freehold and leasehold property and interest therein, owned by the Vendor and all plant, buildings, structures, erections, improvements, appurtenances and fixtures (including fixed machinery and fixed equipment) situate thereon or forming part thereof including, without limitation, the lands and premises set forth in Schedule D and all plants, buildings, structures, improvements, appurtenances and fixtures situate on or forming part thereof;

(iii)

all right, title and interest of the Vendor in, to and under all contracts and agreements and other rights of or pertaining to the Business and all right, title and interest of the Vendor in, to and under the material contracts and agreements described in Schedule E; provided that the Purchaser shall in no event be liable or responsible for any liabilities or obligations which shall be in existence, or accruing, at the Closing Date;

(iv)

all right, title, benefit and interest of the Vendor in respect of all registered or unregistered trademarks, logos and trade names of or pertaining to the Business or owned by the Vendor including, without limitation, those listed in Schedule A and all renewals, modifications and extensions thereof;

(v)

all patterns, plans, designs, research data, copyrights, trade secrets and other proprietary know-how, processes, drawings, technology, unpatented blue prints, flow sheets, equipment and parts listed and descriptions and related instructions, manuals, data, records and procedures including those listed in Schedule A and any and all data used in the Business, and all licenses, agreements and other contracts and commitments relating to any of the foregoing to which the Vendor is a party except for the Excluded Assets;

(vi)

all amounts prepaid in connection with the Business and the Purchased Assets including, without limitation, taxes, business taxes, rents, telephone and insurance;

(vii)

the goodwill of the Business including, without limitation, the exclusive right to the Purchase to represent itself as carrying on the Business in continuation of and in succession to the Vendor and all right, title and interest of the Vendor in, to and in respect of the name “Portus Cloud” and variations thereof;

(viii)

the full benefit of all warranties and warranty rights (implied, express or otherwise) against manufacturers or sellers which apply to any of the Purchased Assets;

(ix)

all books and records and files relating to the Business, stored on any type of media (other than those that form part of the Excluded Assets) including, without limitation, all production, inventory, sales and customer records and lists (containing addresses, phone numbers and business contacts of such customers and all correspondence, research materials, contract documents, licenses and permits, except that where the Vendor is required by law to retain a particular book, record or file, it shall retain such book, record or file and deliver to the Purchaser a copy thereof;

(x)

all accounts receivable (other than those that form part of the Excluded Assets); and

(xi)

all other rights, property and assets (other than the Excluded Assets) of the Vendor primary in connection with the Business, of whatsoever nature or kind and wherever situated.

3

(o)

“Real Property” means the real property and leases of the Vendor set forth in Schedule D; and

(p)

“SEC” means the United States Securities and Exchange Commission;

(q)

“Securities Act” means the United States Securities Act of 1933, as amended; and

(r)

“Vendor Financial Statements” means the audited annual financial statements for the year ended December 31, 2012 and the unaudited interim financial statements for the period ended September 30, 2013. 

1.2

All dollar amounts referred to in this agreement are in United States dollars, unless expressly stated otherwise.

1.3

The following schedules are attached to and form part of this Agreement:

Schedule A – List of Assets

Schedule B – List of Permitted Encumbrances

Schedule C – Employment, Service & Pension Agreements of the Vendor

Schedule D – Real Property & Leases of the Vendor

Schedule E – Material Agreements of the Vendor

Schedule F – Excluded Assets

2.

PURCHASE AND SALE OF ASSETS

2.

Subject to the terms and conditions of this Agreement, the Vendor will sell, assign and transfer to the Purchaser and the Purchaser will purchase from the Vendor the Purchased Assets free and clear of all liens, encumbrances and charges, except for the Permitted Encumbrances, on the Closing Date. 

2.2

In consideration of the Purchased Assets, Dane will issue the Dane Shares to the Vendor on the Closing Date.

3.

NON-ASSUMPTION OF LIABILITIES

3.

Except for the Permitted Encumbrances, it is understood and agreed between the parties that the Purchaser is not assuming and will not be liable or responsible for any of the liabilities, debts or obligations of the Vendor or the Business existing or accruing at the Closing Date, whether or not relating to the Business, and the Vendor will indemnify and save harmless the Purchaser, its officers, directors, employees, agents and shareholders from and against all costs, expenses, losses, claims or liabilities, including reasonable legal fees and disbursements, suffered or incurred by the Purchaser or any Persons arising out of any liabilities, debts and obligations, save and except those obligations, commitments, debts or liabilities of or claims against the Vendor specifically assumed by the Purchaser under the terms of this Agreement.

4

4.

SECURITIES PROVISIONS

4.

The Vendor acknowledges and agrees that the Dane Shares will be issued by Dane to the Vendor pursuant to the exemptions from the registration requirements of the Securities Act set out in Rule 506 of Regulation D promulgated under the Securities Act, that the Dane Shares will be “restricted securities” under the Securities Act and the rules and regulations promulgated thereunder, and that any certificates representing the Dane Shares will be endorsed with a legend substantially similar to the following in accordance with Regulation D of the Securities Act:

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR ANY STATE SECURITIES LAWS, AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.  SUCH SECURITIES MAY NOT BE REOFFERED FOR SALE OR RESOLD OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS.”

4.2

The Vendor agrees not to reoffer, resell, transfer or dispose the Dane Shares unless such reoffer, resale, transfer or disposition is made pursuant to an effective registration under the Securities Act and any applicable state securities laws, or pursuant to an available exemption from the registration requirements of the Securities Act, and any applicable state securities laws.  The Vendor further agrees that the Purchaser may refuse to register any resale or transfer of the Dane Shares not made pursuant to an effective registration under the Securities Act and any applicable state securities law or pursuant to an available exemption from the registration requirements of the Securities Act.

4.3

The Vendor covenants, represents and warrants to Dane as follows, and acknowledges that Dane is relying upon such covenants, representations and warranties in connection with the sale of the Dane Shares to the Vendor:

(a)

An investment in Dane’s securities is highly speculative, and the Vendor is an investor in securities of companies in the development stage and acknowledges that it is able to fend for itself, can bear the economic risk of his investment, has such knowledge and experience in financial or business matters such that he is capable of evaluating the merits and risks of the investment in the securities of Dane.

(b)

The Vendor can bear the economic risk of an investment in the securities of Dane.

(c)

The Vendor has had full opportunity to review Dane’s filings with the SEC, including Dane’s annual reports on Form 10-K, quarterly reports on Form 10-Q, Current Reports on Form 8-K and additional information regarding the business and financial condition of Dane.  The Vendor believes it has received all the information it considers necessary or appropriate for deciding whether to purchase the Dane Shares. The Vendor further represents that it has had an opportunity to ask questions and receive answers from Dane regarding the terms and conditions of the offering of the Dane Shares under this Agreement and the business, properties, prospects and financial condition of Dane.  The Vendor has had full opportunity to discuss this information with the Vendor’s legal and financial advisers prior to execution of this Agreement.

5

(d)

The Vendor acknowledges that it has been informed that the offering of the Dane Shares by Dane has not been reviewed by the SEC or any other regulatory body and that the Dane Shares are being issued by Dane pursuant to an exemption from registration under the Securities Act and any applicable state securities laws.

(e)

The Vendor understands that the Dane Shares will be "restricted securities" under the Securities Act and the rules and regulations promulgated thereunder as they are being acquired from Dane in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the Securities Act only in certain limited circumstances. In this connection, the Vendor represents that it is familiar with SEC Rule 144, as presently in effect, and understands the resale limitations imposed thereby and by the Securities Act and the rules and regulations promulgated thereunder.

(f)

The Vendor acknowledges that Dane is in the early stages of development of its business and may require substantial funds in the near future in order to continue as a going concern.

(g)

The Vendor is not aware of any general solicitation or advertisement of the Dane Shares.

4.4

The Vendor acknowledges and agrees that Dane is an “OTC reporting issuer” as that term is defined in MI 51-105, and that the Dane Shares will be issued and sold pursuant to exemptions from the prospectus requirements of applicable Canadian securities laws.  The Vendor further acknowledges and agrees that the Dane Shares may not be traded in or from a jurisdiction in Canada unless such trade is made in accordance with the provisions of MI 51-105, the Vendor will, and will cause its affiliates to, comply with such conditions in  making any trade of the Dane Shares in or form a jurisdiction in Canada and Dane will refuse to register any transfer of the Dane Shares made in connection with a trade of the Dane Shares in or from a jurisdiction in Canada and not made in accordance with the provisions of MI 51-105.  Notwithstanding the generality of the foregoing, as of the date hereof, MI 51-105 generally provides that the Dane Shares may not be traded in or form a jurisdiction in Canada unless the following conditions have been met:

(a)

A four month period has passed from the later of (i) the date that Dane distributed the Dane Shares, and (ii) the date the Dane Shares were distributed by a control person of Dane;

(b)

If the person trading the Dane Shares is a control person of Dane, such person has held the Dane Shares for at least 6 months;

(c)

The number of Dane Shares that the person proposes to trade, plus the number of common shares of Dane that such person has traded in the preceding 12 months, does not exceed 5% of Dane’s outstanding common shares;

(d)

The trade is made through an investment dealer registered in a jurisdiction in Canada;

(e)

The investment dealer executes the trade through any of the over-the-counter markets in the United States;

(f)

There has been no unusual effort made to prepare the market or create a demand for the Dane Shares;

(g)

No extraordinary commission or other consideration is paid to a person for the trade;

6

(h)

If the person trading the Dane Shares is an insider of Dane, the person reasonably believes that Dane is not in default of securities legislation; and

(i)

All certificates representing the Dane Shares bear the Canadian restrictive legend set out in Section 13(1) of MI 51-105.

4.5

As of the date hereof, the Vendor represents and warrants to Dane that it does not presently intend to trade the Dane Shares in or from a jurisdiction in Canada.  If, after the date hereof, the Vendor does not trade the Dane Shares in or from a jurisdiction in Canada, it will, prior to any such trade, and in addition to complying with the provisions of section 4.4 of this Agreement, re-submit all certificates representing the Dane Shares to the Vendor for purposes of having the legend set out in Section 13(1) of MI 51-105 endorsed on such certificates.

5.

CANCELLATION OF PRINCIPAL SHARES

5.

The Principal Shareholder will surrender to Dane 49,800,000 shares of Dane’s common stock held by the Principal Shareholder for cancellation on the Closing Date.  

5.2

The Principal Shareholder acknowledges that:

(a)

the surrender of the 49,800,000 shares is for no valuation consideration; and

(b)

the Purchaser, Dane and the Vendor are relying on such surrender in entering into this Agreement and the transaction contemplated therein.

6.

REPRESENTATIONS AND WARRANTIES OF THE VENDOR

6.

The Vendor represents and warrants to the Purchaser, Dane and the Principal Shareholder as follows, and acknowledges that the Purchaser, Dane and the Principal Shareholder are relying upon such representations and warranties in connection with the execution of this Agreement:

(a)

The Vendor has been duly incorporated and organized, is validly existing and is in good standing under the laws of the state of Nevada, and has the corporate power to own or lease its property and to carry on its Business.

(b)

The Vendor has all necessary corporate power, authority and capacity to own the Purchased Assets and to carry on the Business as presently conducted and is in good standing each jurisdiction in which the nature of the Business or the Purchase Assets makes qualification necessary.

(c)

The Vendor has all necessary corporate power, authority and capacity to enter into this Agreement and to carry out its obligations under this Agreement; the execution and delivery of this Agreement and the consummation of the transactions contemplated thereby have been duly authorized by all necessary corporate action on the party of the Vendor.

(d)

The Purchased Assets do not constitute all of the property and assets of the Vendor, including goodwill and corporate franchises, within the meaning contemplated by NRS 78.565, and that the Excluded Assets constitute real, valuable and substantive assets of the Vendor.

7

(e)

With the exception of the Permitted Encumbrances, the Purchased Assets are owned by the Vendor as the legal and beneficial owner with good and marketable title thereto, free and clear of all mortgages, liens, charges, security interests, adverse claims, pledges, encumbrances and demands whatsoever with the sole and exclusive right to use the same.  All intellectual property is in good standing and duly registered in all appropriate offices where required to preserve the rights and interests thereto.  The Vendor has no knowledge of any claim or adverse ownership to infringe, oppose or conflict with any of the intellectual property.  The conduct of the Business does not infringe on the patents, trademarks or copyrights, domestic or foreign, of any other person, firm or entity.

(f)

The Vendor has no indebtedness to any person, firm or corporation which is capable by operation of law, instrument or otherwise now or hereafter of constituting a lien, charge, security interest or encumbrance against any of the Purchased Assets, or to which the Purchaser may become liable on or after the consummation of the transactions contemplated herein, except for the Permitted Encumbrances.

(g)

The books and records of the Vendor fairly and correctly set out and disclose in all material respects, in accordance with generally accepted accounting principles, the financial position of the Vendor as at the date hereof, and all material financial transactions of the Vendor relating to the Business have been accurately recorded in such books and records.

(h)

The Vendor Financial Statements present fairly the assets, liabilities (whether accrued, absolute, contingent or otherwise) and the financial condition of the Vendor as at the date thereof and there will not be, prior to the Closing Date, any material increase in the liabilities of the Vendor other than increases arising as a result of carrying on the Business in the ordinary and normal course.  Since the date of the Vendor Financial Statements, there has been no event, occurrence or development that has had or that could reasonably be expected to have a material adverse effect on the Business or the Purchased Assets.

(i)

The entering into this Agreement and the consummation of the transactions contemplated hereby will not result in the violation of any term or provision of any instrument or agreement, written or oral, to which the Vendor may be a party, and will not, to the best of the knowledge of the Vendor, result in the violation of any law or regulation of the United States or of any statements in which it is resident or in which the Business is or at the Closing Date will be carried on or of any local laws, municipal bylaws or ordinances to which the Vendor or the Business may be subject.

(j)

There are no actions, suits or proceedings pending or threatened against or affecting the Vendor or affecting the Purchased Assets, at law or in equity, or before or by any federal, provincial, state, municipal or other governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign and the Vendor is not aware of any existing ground on which any such action, suit or proceeding might be commenced with any reasonable likelihood of success.

(k)

No person other than the Vendor has any beneficial or legal interest in the Purchased Assets, with the exception of the Permitted Encumbrances.

(l)

The Purchased Assets are in good operating condition and are in a state of good repair and maintenance.

(m)

The Vendor does not have any outstanding material agreements, contracts or commitments, whether written or oral, of any nature or kind whatsoever, including, but not limited to, employment, service, consulting or pension agreements, other than those agreements set forth in the Vendor’s filings with the SEC.

8

(n)

The Vendor has the right to use all of the intellectual property necessary to conduct the Business, including, but not limited to, the patents, trademarks, trade names and copyrights both domestic and foreign, set out in the Schedules hereto.

(o)

The Vendor has made full disclosure to the Purchaser of all aspects of the Business and has made all of its books and records available to the representatives of the Purchaser in order to assist the Purchaser in the performance of its due diligence searches and no material facts in relation to the Purchased Assets have been concealed by the Vendor.

6.2

The Vendor acknowledges and agrees that the Purchaser, Dane and the Principal Shareholder has entered into this Agreement relying on the warranties and representations and other terms and conditions of this Agreement notwithstanding any independent searches or investigations that may be undertaken by or on behalf of the Purchaser, Dane and the Principal Shareholder and that no information which is now known or should be known or which may hereafter become known to the Purchaser, Dane and the Principal Shareholder or their respective officers, directors or professional advisors will limit or extinguish the right to indemnify hereunder.

7.

REPRESENTATIONS AND WARRANTIES OF THE PURCHASER AND DANE

7.

The Purchaser and Dane represent and warrant to the Vendor and acknowledges that the Vendor is relying upon such representations and warranties in entering into this agreement:

()

The Purchaser has been duly incorporated and organized, is validly existing and is in good standing under the laws of the state of Nevada, and has the corporate power to own or lease its property and to carry on its business.

(b)

Dane has been duly incorporated and organized, is validly existing and is in good standing under the laws of the state of Nevada, and has the corporate power to own or lease its property and to carry on its business.

(c)

The authorized capital of Dane consists of 250,000,000 shares of common stock, with a par value of $0.001 per share, of which 53,600,000 shares of common stock are currently issued and outstanding as fully paid and non-assessable shares.

(d)

No person, firm or corporation has any agreement or option, including convertible securities, warrants or convertible obligations of any nature, or any right or privilege (whether by law, pre-emptive or contractual) capable of becoming an agreement or option for the purchase, subscription, allotment or issuance of any of the unissued shares in the capital of Dane.

(e)

The directors of the Purchaser are:

Name

Position

David Christie

Director, President, Secretary and Treasurer

(f)

The directors of Dane are:

Name

Position

David Christie

Director, President, Chief Executive Officer, Chief Financial Officer, Secretary and Treasurer

(g)

The Dane Financial Statements present fairly the assets, liabilities (whether accrued, absolute, contingent or otherwise) and the financial condition of Dane as at the date thereof.

9

(h)

There have been no material adverse changes in the financial position or condition of Dane or damage, loss or destruction materially affecting the business or property of Dane from the date of the Dane Financial Statements to the Closing Date except as may be disclosed by Dane in Current Reports on Form 8-K filed with the SEC.

(i)

Dane and the Purchaser have made full disclosure to the Vendor of all material aspects of Dane and the Purchaser’s business and has made all of its books and records available to the representatives of the Vendor in order to assist the Vendor in the performance of its due diligence searches and no material facts in relation to Dane and the Purchaser’s business have been concealed by Dane and the Purchaser.

(j)

Neither Dane nor the Purchaser is a party to or bound by any agreement or guarantee, warranty, indemnification, assumption or endorsement or any other like commitment of the obligations, liabilities (contingent or otherwise) or indebtedness of any other person, firm or corporation.

(k)

There are no actions, suits or proceedings (whether or not purportedly on behalf of Dane or the Purchaser), pending or threatened against or affecting Dane, the Purchaser or their business, at law or in equity, or before or by any federal, state, municipal or other governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign and Dane and the Purchaser are not aware of any existing ground on which any such action, suit or proceeding might be commenced with any reasonable likelihood of success.

(l)

Dane’s shares of common stock are quoted on the FINRA OTC Bulletin Board and the OTC Markets QB and Dane is not in breach of any regulation, by-law or policy of, or any of the terms and conditions of its quotation on the FINRA OTC Bulletin Board or the OTC Markets QB applicable to Dane or its operations.

(m)

Neither Dane nor the Purchaser currently have any employees and is not party to any collective agreements with any labour unions or other association of employees.

(n)

The entering into this Agreement and the consummation of the transactions contemplated hereby will not result in the violation of any term or provision of the articles of incorporation or bylaws of the Purchaser and Dane or of any indenture, instrument or agreement, written or oral, to which the Purchaser and Dane may be a party.

(o)

There are no actions, suits or proceedings pending or threatened against or affecting the Purchaser and Dane, at law or in equity, or before or by any federal, provincial, state, municipal or other governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign and the Purchaser and Dane are not aware of any existing ground on which any such action, suit or proceeding might be commenced with any reasonable likelihood of success.

7.2

The Purchaser and Dane acknowledge and agree that the Vendor has entered into this Agreement relying on the warranties and representations and other terms and conditions of this Agreement notwithstanding any independent searches or investigations that may be undertaken by or on behalf of the Vendor and that no information which is now known or should be known or which may hereafter become known to the Vendor or its respective officers, directors or professional advisors will limit or extinguish the right to indemnify hereunder.

10

8.

REPRESENTATIONS AND WARRANTIES OF THE PRINCIPAL SHAREHOLDER

8.

The Principal Shareholder represents and warrants to the Vendor and acknowledges that the Vendor is relying upon such representations and warranties in entering into this agreement:

()

The Principal Shares are owned by the Principal Shareholder as the beneficial and recorded owner with good and marketable title thereto, free and clear of all mortgages, liens, charges, security interests, adverse claims, pledges, encumbrances and demands whatsoever.

(b)

The entering into this Agreement and the consummation of the transactions contemplated hereby will not result in the violation of any term or provision of the articles of incorporation or bylaws of the Principal Shareholder or of any indenture, instrument or agreement, written or oral, to which the Principal Shareholder may be a party.

(c)

There are no actions, suits or proceedings pending or threatened against or affecting the Principal Shareholder, at law or in equity, or before or by any federal, provincial, state, municipal or other governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign and the Principal Shareholder are not aware of any existing ground on which any such action, suit or proceeding might be commenced with any reasonable likelihood of success.

8.2

The Principal Shareholder acknowledges that he has been advised to obtain independent legal advice.

9.

ACTS IN CONTEMPLATION OF CLOSING

9.1

The Vendor covenants and agrees with Dane, the Purchaser and the Principal Shareholder to, prior to or on the Closing Date, deliver to Dane and the Purchaser those audited and unaudited financial statements of the Vendor as are required by Rule 3-05, Rule 8-04 and Article 11 of Regulation S-X, as applicable, of the SEC in order to permit Dane to make the SEC filings required in respect of the acquisition of the Purchased Assets in accordance with this Agreement, including, but not limited to, annual financial statements for the year ended December 31, 2012, prepared in accordance with United States Generally Accepted Accounting Procedures (“US GAAP”) and audited in accordance with PCAOB audit standards, and unaudited interim financial statements for the period ended September 30, 2013, prepared in accordance with US GAAP.

9.2

The Vendor will assist Dane in preparing an information statement required under Rule 502 of Regulation D and will provide such information relating to the Vendor as may be necessary.

9.3

Dane will take such steps as may be necessary, including the filing of an information statement pursuant to Section 14(f) of the Exchange Act and Rule 14f-1 thereunder, to effect the following changes in the officers and directors of Dane.

		
	Name

	Position

	G. Dale Murray II

	Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer & Director

11

10.

CLOSING CONDITIONS

10.1

The obligation of the Purchaser and Dane to complete the purchase of the Purchased Assets will be subject to the fulfilment or satisfaction of, or compliance with, on or before the Closing Date, each of the following conditions precedent:

(a)

All of the representations and warranties of the Vendor made in or pursuant to this Agreement including, without limitation, the representations and warranties made by the Vendor set forth in section 6.1, will be true and correct in all material respects at the Closing and with the same effect as if made at and as of Closing.

(b)

At the Closing Date, there will have been no materially adverse change in the status or condition of the Purchased Assets that could have a materially adverse affect on the Purchased Assets or upon the Vendor’s ability to transfer and sell the same to the Purchaser on the terms and conditions set out in this Agreement.

10.2

In the event any of the foregoing conditions contained in Section 10.1 hereof are not fulfilled or performed at or before the Closing Date to the reasonable satisfaction of the Purchaser, Dane and the Principal Shareholder, the Purchaser, Dane and the Principal Shareholder may terminate this Agreement by written notice to the Vendor and in such event the Purchaser will be released from all further obligations hereunder but any of such conditions may be waived in writing in whole or in part by the Purchaser, Dane and the Principal Shareholder without prejudice to its rights of termination in the event of the non-fulfilment of any other conditions.

10.3

The obligation of the Vendor to complete the sale of the Purchased Assets will be subject to the fulfilment or satisfaction of, or compliance with, on or before the Closing Date, the following condition precedent:  

(a)

All of the representations and warranties of the Purchaser and Dane made in or pursuant to this Agreement including, without limitation, the representations and warranties made by the Purchaser and Dane set forth in paragraph 7.1, will be true and correct in all material respects at the Closing and with the same effect as if made at and as of Closing.

(b)

At the Closing Date there will have been no materially adverse change in the affairs, assets, liabilities, financial condition or business (financial or otherwise) of Dane and the Purchaser from that shown on or reflected in the Dane Financial Statements.

(c)

Dane will have made the Schedule 14F-1 Information Statement filing as required under paragraph 9.2.

10.4

In the event that the foregoing conditions contained in Section 10.3 hereof are not fulfilled or performed at or before the Closing Date to the reasonable satisfaction of the Vendor, the Vendor will have all the rights and privileges granted to the Purchaser under Section 10.2, mutatis mutandis.

11.

CLOSING ARRANGEMENTS

11.

The closing will take place on the Closing Date at the offices of the Purchaser's solicitors (the "Closing").

12

11.

On the Closing Date, the Vendor will deliver to the Purchaser and Dane:

()

a general conveyance of the Purchased Assets to the Purchaser and all other deeds of conveyance, bills of sale, transfer and assignments, duly executed, in form and content satisfactory to the Purchaser's solicitors appropriate to effectively vest good and marketable title to the Purchased Assets into the name of the Purchaser free and clear of all encumbrances, with the exception of the Permitted Encumbrances, and immediately registerable in all places where registration is necessary or desirable to effect the valid transfer of the Business and the Purchased Assets to the Purchaser; and

()

possession of the Purchased Assets.

11.

On the Closing Date, the Purchaser and Dane will deliver to the Vendor the following:

(a)

certificates representing the Dane Shares duly endorsed with legends, acceptable to Dane's counsel, respecting restrictions on transfer as required by or necessary under the applicable securities legislation of the United States or any state; and

(b)

sequential resignations and directors resolutions such that the following will have been appointed directors and/or officers of Dane immediately following closing:

		
	Name

	Position

	George Dale Murray II

	Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer & Director

11.4

On the Closing Date, the Principal Shareholder will surrender to Dane the certificates representing 49,800,000 of the Principal Shares duly endorsed in blank for transfer or with a stock power of attorney (in either case with the signature guaranteed by the appropriate official) for cancellation.

11.5

Following the Closing Date Dane will make all required filings and pay all required fees required for “OTC reporting issuers” under MI 51-105.

12.

INDEMNIFICATION

12.1

The Vendor will indemnify and save harmless the Purchaser and Dane from and against any and all losses, claims, damages (including lost profits, consequential damages, interest, penalties, fines and monetary sanctions), liabilities and costs incurred or suffered by the Purchaser and Dane by reason of, or resulting from, in connection with or arising in any manner whatsoever out of the breach of any warranty or the inaccuracy of any representation of the Vendor contained or referred to in this Agreement or in any agreement, instrument or document delivered by or on behalf of the Vendor in connection with this Agreement.

12.2

The Purchaser and Dane will indemnify and save harmless the Vendor from and against any and all losses, claims, damages (including lost profits, consequential damages, interest, penalties, fines and monetary sanctions), liabilities and costs incurred or suffered by the Vendor by reason of, or resulting from, in connection with or arising in any manner whatsoever out of the breach of any warranty or the inaccuracy of any representation of the Purchaser and Dane contained or referred to in this Agreement or in any agreement, instrument or document delivered by or on behalf of the Purchaser in connection with this Agreement.

13.

GENERAL PROVISIONS

13.1

Time will be of the essence of this Agreement.

13

13.2

The parties will execute and deliver such further documents and instruments and do all such acts and things as may be reasonably necessary or requisite to carry out the full intent and meaning of this Agreement and to effect the transactions contemplated by this Agreement.

13.3

This Agreement will enure to the benefit of and be binding upon the Vendor, the Purchaser and Dane and, as applicable, their heirs, executors, administrators, successors and assigns.

13.4

This Agreement contains the whole agreement between the parties hereto in respect of the subject matter of this Agreement and there are no warranties, representations, terms, conditions or collateral agreements expressed, implied or statutory, other than as expressly set forth in this Agreement.

13.5

Any notice to be given under this Agreement will be duly and properly given if made in writing and by delivering or faxing the same to the addressee at the address as set out on page one of this Agreement.  Any notice given as aforesaid will be deemed to have been given or made on, if delivered, the date on which it was delivered or, if facsimile, on the next business day after it was facsimiled.  Any party hereto may change its address for notice from time to time by notice given to the other parties hereto in accordance with the foregoing.

13.6

If any provision of this Agreement will be invalid, illegal or unenforceable in any respect under any applicable law, such provision may be severed from this Agreement, and the validity, legality and enforceability of the remaining provisions hereof will not be affected or impaired by reasons thereof.

13.7

This Agreement will be construed and enforced in accordance with, and the rights of the parties will be governed by, the laws of the state of Nevada.

-THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK-

14

13.8

This Agreement may be executed in one or more counter-parts, each of which so executed will constitute an original and all of which together will constitute one and the same agreement.

IN WITNESS WHEREOF the parties hereto have executed this agreement as of the day and year first above written.

DANE ACQUISITION CORP.

a Nevada corporation 

by its authorized signatory:

_____________________________

David Christie, CEO

DANE EXPLORATION INC.

a Nevada corporation 

by its authorized signatory:

_____________________________

David Christie, CEO

PORTUS HOLDINGS INC.

a Nevada corporation 

by its authorized signatory:

_____________________________

G. Dale Murray, II, CEO

SIGNED, SEALED AND DELIVERED

BY DAVID CHRISTIE

in the presence of:

______________________________

_____________________________

Signature

DAVID CHRISTIE

______________________________

Name

______________________________ 

Address

______________________________

15

SCHEDULE A

to that Asset Purchase Agreement dated as of the ____ day of January, 2014

LIST OF ASSETS AND INTELLECTUAL PROPERTY

1.

Purchased Assets

The Purchased Assets include all assets, designs, schematics, business models, servers, contracts to use cloud servers, software and websites in order to implement the Business.

2.

Intellectual Property and Business Model

The business model and Intellectual Property comprising the Purchased Assets include, but not limited to:

1.

Design of the cloud based integration of the food service supply chain;

2.

Alternative value concept for pricing in comparison to current market;

3.

Conceptual design for a multi-lingual cloud based translator (possibly patentable);

4.

Information standardization using GS-1 for proposed food driven bar code system;

5.

Potential to supply and maintain database for GS-1;

6.

Design of a local growers network to add to the supply chain;

7.

Design model for Data as a Service specific to food service supply chain; and

8.

Design model for Analytics as a Service specific to food service supply chain.

3.

Websites

The website(s) that comprise the Purchased assets include, but are not limited to:

www.portus-inc.com

and such other websites in order for the Purchaser to implement the Business.

16

SCHEDULE B

to that Asset Purchase Agreement dated as of the ____ day of January, 2014

PERMITTED ENCUMBRANCES

None.

17

SCHEDULE C

to that Asset Purchase Agreement dated as of the ____ day of January, 2014

EMPLOYMENT, SERVICE & PENSION AGREEMENTS OF THE VENDOR

None.

18

SCHEDULE D

to that Asset Purchase Agreement dated as of the ____ day of January, 2014

REAL PROPERTY & LEASES OF THE VENDOR

None.

19

SCHEDULE E

to that Asset Purchase Agreement dated as of the ____ day of January, 2014

LIST OF MATERIAL CONTRACTS

None.

20

SCHEDULE F

to that Asset Purchase Agreement dated as of the ____ day of January, 2014

EXCLUDED ASSETS

1.

Share Exchange Agreement dated October 12, 2012 among Portus Holdings Inc., Portus Acquisition Corp. and SureQuest Systems, Inc.

2.

Service Licensing Agreement dated February 8, 2013 between Portus Holdings Inc. and SureQuest Systems, Inc. 

21

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00225-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00225-of-00352.parquet"}]]