Document:

Exhibit 10-8

 

ASSIGNMENT

 

In
consideration for the issuance of 1,777,778 fully paid and assessable restricted shares of common stock of Bearing Mineral Exploration,
Inc., a Nevada corporation and other good and valuable consideration, receipt of which is hereby acknowledged, Art Agolli (the
“Assignor”) hereby sell, assign, transfer, and convey to Bearing Mineral Exploration, Inc, a Nevada corporation, (the
“Assignee”) all of Assignor’s right, title, and interest in and to that certain Letter Of Intent between Assignor
and Sonoro Energy Ltd., dated April 12, 2012 which is attached hereto and marked “Exhibit A”.

 

The
Assignor warrants and represents that said Letter of Intent is in full force and effect and is fully assignable.

 

The
Assignee hereby assumes and agrees to perform all obligation of the Assignor under the Letter of Intent and hereby holds Assignor
safe and harmless from any and all claims, suits or demands by any person relating to said Letter of Intent or this Assignment.

 

DATED:
April 17, 2012.

 

	 	 	/s/
    Art Agolli 
	 	 	Art
    Agolli (Assignor)
	 	 	 
	 	 	BEARING
    MINERAL EXPLORATION, INC.
	 	 	(Assignee)
	 	 	 
	 	BY:	Art
    Agolli 
	 	 	Art
    Agolli, President

 

    	 

    	 

    

 

EXHIBIT
A

 

Artan
Agolli

Suite
300, 714 – 1st Street S.E.

Calgary,
Alberta T2G 2G8

 

CONFIDENTIAL

 

April
12, 2012

 

Sonoro
Energy Ltd.

Suite
1000, 600 – 6th Avenue S.W.

Calgary,
Alberta T2P 0S5

Attention:
Mr. Richard Wadsworth

 

Letter
of Intent

 

Dear
Mr. Wadsworth:

 

Re:
Sonoro Energy Ltd.

 

Further
to our various discussions, we understand that Sonoro Energy Ltd. (formerly Sonic Technology Solutions Inc.) (the “Corporation”)
is the holder of all of the legal and equitable rights and entitlements relating to a sonic reactor (“Sonic Reactor”)
and technology and that the Corporation has developed an application utilizing the Sonic Reactor for the treatment and upgrading
of heavy oil by sonicated solvent de-asphalting. We understand that the Sonic Reactors are constructed by a third party supplier
with the designs provided by the Corporation. For the purposes hereof, all of the Corporation’s designs, trade secrets,
know how, process and application for the use of the Sonic Reactor for the treatment and upgrading of heavy oil through sonicated
solvent de-asphalting, and all related intellectual property transfer and confidentiality agreements shall be collectively hereinafter
referred to as the “Technology”.

 

We
also understand that the Corporation has established Petrosonic Albania Sha (“AlbaniaCo”) in Albania
and that the Corporation is the legal and beneficial holder of the 60,000 shares (“AlbaniaCo Shares”)
of Albania Co representing 83.3% of the outstanding shares of AlbaniaCo with a paid-up capital of CDN$1,500,000 and that AlbNafta Shpk is the legal and beneficial holder of the remaining 12,000 shares (the “Minority AlbaniaCo
Shares”) or 16.7% of the outstanding shares of AlbaniaCo with a paid up capital of CDN$300,000. We also
understand that pursuant to the terms of a Licence Agreement (the “Albania Licence”) dated June 30, 2010,
the Corporation has granted certain exclusive rights to AlbaniaCo to commercialize the Technology only in Albania and
that AlbaniaCo is entitled to the use of the Corporation’s Sonic Reactor (the “Albania Sonic
Reactor”) located in Albania.

 

This
Letter of Intent sets forth the basic terms and conditions of the proposed sale by the Corporation to Artan Agolli or his
duly authorized nominee (the “Purchaser”) of: (a) the rights in and to the Technology and the rights to commercialize
the Technology in all global jurisdictions (“Jurisdications”) except The Republic of Iraq; (the “Technology
Rights”); (b) the Albania Sonic Reactor; (c) the Sonic Reactor (the “CDN Sonic Reactor”) located
in Richmond, British Columbia; and (d) the AlbaniaCo Shares held by the Corporation.

 

    	 

    	 

    

 

Contemporaneous
with completion of the remaining transactions contemplated herein, the Purchaser and the Corporation shall enter into a licence
agreement (the “Iraq Licence Agreement”) for commercialization of the Technology in The Republic of Iraq, provided
that under the terms of the Iraq Licence Agreement: (i) the Corporation shall not be obligated to pay the Purchaser any licence
fees or royalty payments; and (ii) the Purchaser shall only be entitled to be reimbursed for its expenses, such as travel costs
and the costs for personnel.

 

The
Purchaser hereby proposes that the purchase and sale by the Corporation to the Purchaser of the Technology Rights, the Purchased
Sonic Reactors and the AlbaniaCo Shares be completed at 4:30 p.m. (Calgary time) on April 30, 2012 (the “Closing
Date”), or any other date and time as may be mutually agreed upon in writing by the parties herein, subject to the herein
specified terms.

 

		1.0	Purchase
                                                                  Price – Technology

 

		1.1	The
                                                           Purchaser shall pay to the Corporation as purchase consideration for
                                                           the Technology and the Purchased Sonic Reactors an aggregate of CDN$250,000,
                                                           subject to the remaining terms herein.

 

		1.2	As
                                                           additional consideration for the sale of the Technology Rights and
                                                           the Purchased Sonic Reactors, the Purchaser shall pay to the Corporation,
                                                           a royalty representing 10% of the Net Revenues realized by the
                                                           Purchaser or any of its affiliates in all Jurisdictions for a period
                                                           of 10 years from the date of commencement of Commercial Operations
                                                           in each Jurisdiction.

 

		1.3	For
                                                                                             the purposes hereof:

 

		(a)	“Net
                                                                                                 Revenues” shall
                                                                                                 mean the net revenues of the
                                                                                                 Purchaser or any of its affiliates
                                                                                                 in all Jurisdictions after deducting
                                                                                                 all industry standard operating
                                                                                                 expenses, including without limitation:
                                                                                                 (i) capital depreciation; (ii)
                                                                                                 taxes, fees and levies imposed
                                                                                                 by any authorized authority;
                                                                                                 and (iii) a reasonable reserve
                                                                                                 for working capital, each as
                                                                                                 reported in the appropriate financial
                                                                                                 statements of the Purchaser or
                                                                                                 its affiliates’ financial
                                                                                                 statements; and

 

		(b)	“Commercial
                                                                                                 Operations” means
                                                                                                 the Purchaser or any of one its
                                                                                                 affiliates in any Jurisdiction
                                                                                                 processes not less than an average
                                                                                                 of 50 barrels of feed stock per
                                                                                                 day over a period of thirty (30)
                                                                                                 consecutive days utilizing the
                                                                                                 Technology. 

 

		2.0	Purchase
                                                                  Price – AlbaniaCo Shares

 

		2.1	The
                                                           Purchaser shall pay to the Corporation as purchase consideration for
                                                           the AlbaniaCo Shares an aggregate of CDN$250,000,
                                                           subject to the remaining terms herein.

 

		3.0	Default
                                                                  Terms 

 

		3.1	Subject
                                                           to the remaining terms herein, all rights in and to the Technology
                                                           shall revert back to the Corporation and the Purchaser shall promptly
                                                           take all reasonable actions and comply with all reasonable requests
                                                           of the Corporation to ensure such reversion, in the event that the
                                                           Purchaser or any one of its affiliates has not commenced Commercial
                                                           Operations in any one (1) Jurisdiction within two (2) years of the
                                                           Closing Date.

 

    	 

    	 

    

 

		3.2	The
                                                           default terms specified at Article 3.1 herein shall be extend in the
                                                           event that the Purchaser or any of its affiliates is not able to carry
                                                           out its business activities due to any labour strikes, political upheaval,
                                                           an act of god or any other similar event of frustration that materially
                                                           interrupts the Purchaser’s attempts to commence Commercial Operations
                                                           in any of the Jurisdictions where the Purchaser or any of its affiliates
                                                           is actively pursing Commercial Operations.

 

		4.0	Payment
                                                                  Terms

 

		4.1	The
                                                           aggregate purchase consideration of CDN$500,000 for the
                                                           Technology, the Purchased Sonic Reactors and the AlbaniaCo Shares shall
                                                           be payable by the Purchaser to the Corporation as follows:

 

		(a)	CDN$250,000
                                                                                                   shall be payable in cash
                                                                                                   on the Closing Date; and

 

		(b)	CDN$250,000
                                                                 shall be payable by way of a convertible debenture (“Convertible
                                                                 Debenture”) of a public or private company (the “Issuer”)
                                                                 acceptable to the Corporation acting reasonably; or.

 

		(c)	In
                                                                 the event that the Purchaser secures aggregate gross proceeds
                                                                 of CDN$1,750,000 or more in financing over the 24 months
                                                                 after the Closing then the CDN$250,000 payment specified in Article
                                                                 4.1(b) herein may be paid by the Purchaser in the form of cash
                                                                 at the descrition of the Corporation.

 

	4.2	The Convertible Debenture shall have the following fundamental terms:

 

		(a)	no
                                                                  interest shall be payable by the Issuer;

 

		(b)	the
                                                                                                     maturity date (the “Maturity
                                                                                                     Date”) shall be
                                                                                                     twenty-four
                                                                                                     (24) months after the Closing
                                                                                                     Date, provided that the Purchaser
                                                                                                     or the Issuer as appropriate,
                                                                                                     shall be entitled to satisfy
                                                                                                     the indebtedness at any time
                                                                                                     prior to the Maturity Date,
                                                                                                     without any prepayment penalty;

 

		(c)	the
                                                                                                 indebtedness shall be subordinated
                                                                                                 to any future senior debt or
                                                                                                 convertible debt financing of
                                                                                                 the Issuer;

 

		(d)	the
                                                                                                 Corporation shall have the right
                                                                                                 to convert the indebtedness into
                                                                                                 common shares of the Issuer at
                                                                                                 a conversion price equal to the
                                                                                                 issuance price of common shares
                                                                                                 under the Financing and

 

		(e)	the
                                                                                                 Corporation shall have the rights
                                                                                                 to register the indebtedness
                                                                                                 as a security interest against
                                                                                                 all present and after acquired
                                                                                                 personal property of the Issuer
                                                                                                 or any of its affiliates in any
                                                                                                 Jurisdictions, as the Corporation
                                                                                                 may determine from time to time.

 

	5.0	Purchase and Sale Agreements

 

		5.1	Upon
                                                           receipt by the Purchaser of a copy of this Letter of Intent, duly executed
                                                           by the Corporation, the parties shall use good faith efforts to, by
                                                           no later than April 23, 2012 or any other date mutually agreed
                                                           upon in writing by the parties prepare an industry standard form of
                                                           technology transfer agreement and a form of share purchase and sale
                                                           agreement (the “Agreements”) incorporating the terms
                                                           of this Letter of Intent and such other terms and conditions as deemed
                                                           necessary and advisable by counsel for each of the Purchaser and the
                                                           Corporation. The Agreements shall include terms providing for representations
                                                           and warranties of the Corporation relating to the business and affairs
                                                           of the Technology and the AlbaniaCo Shares, and that as of the Closing
                                                           Date and to the knowledge of the Corporation acting diligently, there
                                                           shall be no rights, claims, penalties, dues, liabilities, liens or
                                                           security interests of any person, party, taxing authority or agency,
                                                           or any regulatory body or authority whatsoever against the Technology,
                                                           or the Purchased Sonic Reactors whether registered or not (the “Claims”),
                                                           as well as indemnities (“Indemnities”) of the Corporation
                                                           relating to the rights of the Technology or any Claims not disclosed
                                                           to the Purchaser prior to the Closing Date but which materialize after
                                                           the Closing Date.

 

    	 

    	 

    

 

		6.0	Conditions
                                                                  Precedent of Purchaser

 

		6.1	The
                                                           obligations of the Purchaser to complete the transactions contemplated
                                                           herein and under the terms of the Agreements are subject to the satisfaction
                                                           or fulfillment as at the Closing Date or any other date specified therein,
                                                           of the following conditions precedent which may in whole or in part,
                                                           be unilaterally waived by the Purchaser at any time, as follows:

 

		(a)	Up
                                                                                                 to April 23, 2012 expiring
                                                                                                 at 4:30 p.m. (Calgary time) or
                                                                                                 any other date and time mutually
                                                                                                 agreed upon in writing by the
                                                                                                 parties, the review to the sole
                                                                                                 satisfaction of the Purchaser,
                                                                                                 of the financial condition, business
                                                                                                 affairs, properties and title
                                                                                                 of the Technology, the Purchased
                                                                                                 Sonic Reactors,AlbaniaCo and
                                                                                                 the AlbaniaCo Shares, as appropriate;

 

		(b)	By
                                                                                                 no later than the Closing Date,
                                                                                                 the Purchaser shall have secured
                                                                                                 equity financing (the “Financing”)
                                                                                                 for gross aggregate proceeds
                                                                                                 of $500,000 under terms
                                                                                                 acceptable to the Purchaser;

 

		(c)	The
                                                                                                 Corporation shall terminate the
                                                                                                 Albania Licence, without consequence,
                                                                                                 claims or further obligation
                                                                                                 to the Corporation or AlbaniaCo
                                                                                                 thereunder;

 

		(d)	By
                                                                                                 April 23, 2012 expiring at 4:30
                                                                                                 p.m. (Calgary time), the Purchaser
                                                                                                 shall review and confirm that
                                                                                                 the Purchased Sonic Reactors
                                                                                                 and related material assets held
                                                                                                 by AlbaniaCo in Albania are all
                                                                                                 in good working condition;

 

		(e)	The
                                                                                                 Corporation shall enter into
                                                                                                 a form of technical services
                                                                                                 consulting agreement for a period
                                                                                                 of up to 12 months following
                                                                                                 the Closing Date pursuant to
                                                                                                 which the Corporation will facilitate
                                                                                                 the transfer of the Technology
                                                                                                 and will provide ongoing support
                                                                                                 to the Purchaser at cost to the
                                                                                                 Purchaser for the provision of
                                                                                                 the Corporation’s personnel;
                                                                                                 and

 

		(f)	There
                                                                                                 shall be no Claims against the
                                                                                                 Corporation in relation to the
                                                                                                 Technology, the Purchased Sonic
                                                                                                 Reactors, the AlbaniaCo Shares,
                                                                                                 or the operations previously
                                                                                                 undertaken by AlbaniaCo in Albania.

 

		6.2	In
                                                           the event that the Corporation has been advised by the Purchaser by
                                                           no later than the expiry dates specified above, that one or more of
                                                           the above conditions have not been satisfied, this Letter of Intent
                                                           shall be terminated effective as at such date and time. In the event
                                                           of termination of thisLetter of Intent in accordance with Article.1
                                                           herein, the parties shall have no further obligations hereunder, save
                                                           an except for the obligations of the Purchaser at Article 10.4 herein,
                                                           which shall survive the termination of thisLetter of Intent. In the
                                                           event of termination of this Letter of Intent in accordance with this
                                                           Article 6.2, the parties agree to and shall continue to be bound by
                                                           the terms of the Confidentiality Agreement between the corporation
                                                           and the Purchaser dated December 6, 2011.

 

    	 

    	 

    

 

		7.0	Mutual
                                                           Condition Precedent

 

		7.1	The
                                                           obligations of the parties to complete the transactions contemplated
                                                           herein and under the terms of the Agreements, is subject to the mutual
                                                           condition that as at the Closing Date:

 

		(a)	The parties shall have obtained
all applicable Canadian and Albanian federal, provincial, civic and regulatory licenses, consents and government approvals for
the purchase and sale of the Technology Rights, the Purchased Sonic Reactors and the AlbaniaCo Shares;

 

		(b)	The parties shall have finalized
the terms and shall have entered into the Iraq License Agreement; and

 

		(c)	The parties shall have finalized
the terms and shall have entered into the Agreements.

 

		7.2	In
                                                                                             the event that the mutual conditions
                                                                                             precedent specified at Article 7.1
                                                                                             herein have not been satisfied or
                                                                                             waived by the parties by the Closing
                                                                                             Date, this Letter of Intent may be
                                                                                             terminated by either party on notice
                                                                                             to the other and in which case, the
                                                                                             parties shall have no further obligations
                                                                                             hereunder, save an except for the
                                                                                             obligations of the Purchaser at Article
                                                                                             10.4 herein, which shall survive
                                                                                             the termination of this Letter of
                                                                                             Intent. In the event of termination
                                                                                             of this Letter of Intent in accordance
                                                                                             with this Article 7.2, the parties
                                                                                             shall continue to be bound by the
                                                                                             terms of the Non-Disclosure Agreement
                                                                                             between the Corporation and Pruchaser
                                                                                             dated
                                                                                             December 6, 2011.

 

		8.0	Exclusivity

 

		8.1	Upon
                                                                                             execution by the parties of this
                                                                                             Letter of Intent and until the Closing
                                                                                             Date, or until this Letter of Intent
                                                                                             is terminated pursuant to the terms
                                                                                             herein, the Corporation shall not
                                                                                             initiate or solicit any expressions
                                                                                             of interest or proposals from any
                                                                                             other person or party relating to
                                                                                             a possible sale, assignment or licence
                                                                                             of the Technology, or the Purchased
                                                                                             Sonic Reactors, or a sale of the
                                                                                             AlbaniaCo Shares, or a merger, amalgamation,
                                                                                             arrangement or similar transaction
                                                                                             between AlbaniaCo and any other person
                                                                                             or party.

 

		9.0	Conduct
                                                                                             of Business

 

		9.1	Upon
                                                                                             execution of this Letter of Intent
                                                                                             by the parties and until the Closing
                                                                                             Date, or until this Letter of Intent
                                                                                             is terminated pursuant to the terms
                                                                                             herein, the Corporation shall not
                                                                                             without the prior written consent
                                                                                             of the Purchaser:

 

		(a)	Authorize
                                                                                                 AlbaniaCo to issue any additional
                                                                                                 securities of any class in the
                                                                                                 authorized capital of AlbaniaCo;

 

		(b)	Authorize
                                                                                                 AlbaniaCo to grant an option
                                                                                                 or right to any person or party
                                                                                                 to purchase any un-issued securities
                                                                                                 of any class in the authorized
                                                                                                 capital of AlbaniaCo;

 

		(c)	Authorize
                                                                                                 AlbaniaCo to enter into any material
                                                                                                 contracts with any person or
                                                                                                 party other than in the ordinary
                                                                                                 course of business;

 

    	 

    	 

    

 

		(d)	Pledge,
                                                                                                 lease, dispose, encumber or grant
                                                                                                 to any person or party, any interest
                                                                                                 in any of the assets, of AlbaniaCo
                                                                                                 other than in the ordinary course
                                                                                                 of business;

 

		(e)	Operate
                                                                                                 AlbaniaCo in any manner other
                                                                                                 than a manner that is consistent
                                                                                                 with good international practices;

 

		(f)	Authorize
                                                                                                 or be party to any transaction
                                                                                                 to pledge, dispose, encumber
                                                                                                 or grant to any person or party,
                                                                                                 any interest in and to the AlbaniaCo
                                                                                                 Shares, or any part thereof;
                                                                                                 and

 

		(g)	Pledge,
                                                                                                 lease, dispose, encumber or grant
                                                                                                 to any person or party, any interest
                                                                                                 or licence in the Technology.

 

		10.0	Due
                                                                                              Diligence and Confidentiality

 

		10.1	Upon
                                                                                              execution by the parties of this
                                                                                              Letter of Intent and until the Closing
                                                                                              Date, the Corporation shall allow
                                                                                              the Purchaser and its authorized
                                                                                              officers, professional advisors,
                                                                                              financiers, investors and other
                                                                                              agents required to complete the
                                                                                              transactions contemplated herein
                                                                                              (collectively the “Agents”)
                                                                                              with reasonable access to the Confidential
                                                                                              Information (as defined below) of
                                                                                              the Corporation relating to the
                                                                                              Technology and AlbaniaCo which shall
                                                                                              enable the Purchaser to confirm
                                                                                              the financial condition, contractual
                                                                                              obligations, and the business and
                                                                                              corporate affairs of the Corporation
                                                                                              relating to the Technology, AlbaniaCo
                                                                                              and the AlbaniaCo Shares, as deemed
                                                                                              necessary or advisable by the Purchaser,
                                                                                              acting reasonably, in order to confirm
                                                                                              and verify the Corporation’s
                                                                                              representations, warranties, covenants
                                                                                              and agreements contained herein
                                                                                              and under the terms of the Agreements,
                                                                                              provided that:

 

		(a)	The
                                                                                                                      Confidential
                                                                                                                      Information
                                                                                                                      shall be
                                                                                                                      treated
                                                                                                                      as strictly
                                                                                                                      confidential
                                                                                                                      and shall
                                                                                                                      not be used
                                                                                                                      by the Purchaser
                                                                                                                      for any
                                                                                                                      purpose
                                                                                                                      other than
                                                                                                                      completing
                                                                                                                      the transactions
                                                                                                                      contemplated
                                                                                                                      herein;
                                                                                                                      and

 

		(b)	The
                                                                                                                      Corporation
                                                                                                                      shall not
                                                                                                                      be obligated
                                                                                                                      to provide
                                                                                                                      any original
                                                                                                                      copies of
                                                                                                                      the Confidential
                                                                                                                      Information
                                                                                                                      to the Purchaser
                                                                                                                      and the
                                                                                                                      Purchaser
                                                                                                                      shall take
                                                                                                                      all further
                                                                                                                      responsible
                                                                                                                      steps until
                                                                                                                      the Closing
                                                                                                                      Date to
                                                                                                                      ensure that
                                                                                                                      the Confidential
                                                                                                                      Information
                                                                                                                      is only
                                                                                                                      distributed
                                                                                                                      to the Agents.

 

		10.2	For
                                                            the purposes hereof, Confidential Information means all information
                                                            related to the Corporation and/or its affiliates (including it business,
                                                            operations, assets, liabilities, plans, prospects and affairs), which
                                                            is disclosed or otherwise obtained by, the Purchaser, regardless of
                                                            whether such information is in oral, visual, electronic, written or
                                                            other form and whether or not it is identified as “confidential”.
                                                            Confidential Information does not include any information that:

 

		(a)	Is or has become publicly available
through no fault of the Purchaser;

 

		(b)	Is or becomes available to
the Purchaser on a non-confidential basis from a source other than the Corporation or its affiliates; or

 

		(c)	Was independently acquired
or developed by the Purchaser without violating the Purchaser’s obligations under this Letter of Intent or any other obligation
of confidentiality they may have to the Corporation or its affiliates.

 

    	 

    	 

    

 

		10.3	Upon
                                                            acceptance by the Corporation of this Letter of Intent, the Purchaser
                                                            may conduct physical inspections of the Technology and the assets
                                                            of AlbaniaCo in the manner necessary for the Purchaser’s purposes
                                                            provided that any Agents have been approved by the Corporation, acting
                                                            reasonably, prior to their arrival.

 

		10.4	In
                                                            the event that the Letter of Intent or the Agreements are terminated
                                                            for any reason whatsoever, the Purchaser shall, within five (5) business
                                                            days, return to the Corporation all Confidential Information, whether
                                                            in the possession of the Purchaser or the Agents, with a sworn statutory
                                                            declaration in a form satisfactory to the Corporation’s solicitor,
                                                            acting reasonably, stating that all Confidential Information has been
                                                            returned to the Corporation without any copies being retained by the
                                                            Purchaser and to the best of the Purchaser’s knowledge, without
                                                            any copies being retained by any of the Agents.

 

		11.0	Costs
                                                                                              and Expenses

 

		11.1	Each
                                                                                              of the Corporation and the Purchaser
                                                                                              shall be solely responsible for
                                                                                              all of their respective legal, professional
                                                                                              and any other costs and expenses
                                                                                              related to the transactions contemplated
                                                                                              under the terms of this Letter of
                                                                                              Intent.

 

		12.0	Enforceability

 

		12.1	The
                                                                                              governing law applicable to this
                                                                                              Letter of Intent is the law of Alberta,
                                                                                              and the federal laws of Canada applicable
                                                                                              thereto. Notwithstanding that this
                                                                                              document constitutes a letter of
                                                                                              intent that contemplates the completion
                                                                                              of the binding, definitive Agreements,
                                                                                              the following terms represent binding,
                                                                                              enforceable agreements between the
                                                                                              parties hereto: Articles 6.1, 6.2
                                                                                              7.1(b), 7.1(c), 7.1(d), 8.1, 9.1,
                                                                                              10.1, 10.2, 10.3, 11.1, and 12.1.

 

		13.0	Final
                                                                                              Agreement

 

		13.1	This
                                                            Letter of Intent replaces and supercedes the Letter of Intent entered
                                                            into by the Corporation on December 6, 2011 with respect to the subject
                                                            matter hereof, and each of the parties hereby confirm that they have
                                                            no claims against the remaining party thereundermay

 

		14.0	Execution
                                                                                              in Counterparts

 

		14.1	This
                                                                                              Letter of Intent may be signed in
                                                                                              as many counterparts as may be necessary,
                                                                                              each of which so signed will be
                                                                                              deemed to be as original, and such
                                                                                              counterparts together will constitute
                                                                                              one and the same instrument and
                                                                                              notwithstanding the date of execution,
                                                                                              will be deemed to bear the date
                                                                                              set forth above.

 

If
the foregoing terms relating to the purchase and sale of the Technology Rights, the Purchased Sonic Reactors and the AlbaniaCo
Shares are acceptable to the Corporation, then please indicate such acceptance thereof and return to the Purchaser one (1) fully
executed copy of this Letter of Intent.

 

    	 

    	 

    

 

	Yours truly,	 
	 	 
	/s/ Art Agolli	 
	ARTAN
    AGOLLI	 

 

THE
FOREGOING TERMS OF THIS LETTER OF INTENT ARE HEREBY ACKNOWLEDGED AND ACCEPTED BY THE CORPORATION AS OF THIS 12th DAY OF
APRIL, 2012.

 

SONORO
ENERGY LTD.

 

	Per:	/s/ Richard Wadsworth	 
	 	 Richard
    Wadsworth, President & CEOEXHIBIT
4.1 

 

MICRO
IMAGING TECHNOLOGY, INC. 2014 Employee Benefit Plan 

 

SECTION
1. INTRODUCTION 

 

1.1
Establishment. Effective as provided in Section 17, Micro Imaging Technology, Inc., a California corporation (the “Company”),
hereby adopts this plan of stock-based compensation for selected Eligible Participants of the Company and affiliated corporation.
This plan shall be known as the Micro Imaging Technology, Inc. 2012 Employee Benefit Plan (the “Plan”).

 

1.2
Purpose. The purpose of this Plan is to promote the best interest of the Company, and its stockholders by providing a means of
non-cash remuneration to selected Eligible Participants.

 

SECTION
2. DEFINITIONS 

 

The
following definitions shall be applicable to the terms used in this Plan:

 

2.1
“Affiliated Corporation” means any corporation that is either a parent corporation with respect to the Company or
a subsidiary corporation with respect to the Company (within the meaning of Sections 424(e) and (f), respectively, of the Internal
Revenue Code).

 

2.2
“Code” means the Internal Revenue Code of 1986, as it may be amended from time to time.

 

2.3
“Committee” means a committee designated by the Board of Directors to administer this Plan or, if no committee is
so designated, the Board of Directors. Any Committee member who is also an Eligible Participant may receive an Option or Stock
Award only if he abstains from voting in favor of a grant to himself, and the grant is determined and approved by the remaining
Committee members. The Board of Directors, in its sole discretion, may at any time remove any member of the Committee and appoint
another Director to fill any vacancy on the Committee.

 

2.4
“Common Stock” means the Company’s $0.01 par value common stock.

 

2.5
“Company” means Micro Imaging Technology, Inc., a California corporation.

 

2.6
“Effective Date” means the effective date of this Plan, as set forth in Section 17 hereof.

 

2.7
“Eligible Participant” means any employee, director, officer, consultant, or advisor of the Company who is determined
(in accordance with the provisions of Section 4 hereof) to be eligible to receive an Option or Stock Award hereunder.

 

    	 

    	 

    

 

2.8
“Option” means the grant to an Eligible Participant of a right to acquire shares of Common Stock.

 

2.9
“Plan” means this Micro Imaging Technology, Inc. 2012 Employee Benefit Plan dated February 14, 2012.

 

2.10
“Stock Award” means the grant to an Eligible Participant of shares of Common Stock issuable directly under this Plan
rather than upon exercise of an Option. Wherever appropriate, words used in this Plan in the singular may mean the plural, the
plural may mean the singular, and the masculine may mean the feminine.

 

SECTION
3. ADOPTION AND ADMINISTRATION OF THIS PLAN 

 

Upon
adoption by the Company’s Board of Directors, this Plan became effective as of February 14, 2012. In the absence of contrary action
by the Board of Directors, and except for action taken by the Committee pursuant to Section 4 in connection with the determination
of Eligible Participants, any action taken by the Committee or by the Board of Directors with respect to the implementation, interpretation
or administration of this Plan shall be final, conclusive and binding.

 

SECTION
4. ELIGIBILITY AND AWARDS 

 

The
Committee shall determine at any time and from time to time after the effective date of this Plan: (i) the Eligible Participants;
(ii) the number of shares of Common Stock issuable directly or to be granted pursuant to an Option; (iii) the price per share
at which each Option may be exercised, in cash or cancellation of fees for services for which the Company is liable, if applicable,
or the value per share if a direct issue of stock pursuant to a Stock Award; and (iv) the terms on which each Option may be granted.
Such determination, as may from time to time be amended or altered at the sole discretion of the Committee. Notwithstanding the
provisions of Section 3 hereof, no such determination by the Committee shall be final, conclusive and binding upon the Company
unless and until the Board of Directors has approved the same; provided, however, that if the Committee is composed of a majority
of the persons then comprising the Board of Directors of the Company, such approval by the Board of Directors shall not be necessary.

 

SECTION
5. GRANT OF OPTION OR STOCK AWARD 

 

Subject
to the terms and provisions of this Plan, the terms and conditions under which an Option or Stock Award may be granted to an Eligible
Participant shall be set forth in a written agreement (i.e., a Consulting Agreement, Services Agreement, Fee Agreement, or Employment
Agreement) or, if an Option, a written Grant of Option. (The form shall be determined by the Committee, in its sole discretion,
or may be determined by the Board of Directors)

 

SECTION
6. TOTAL NUMBER OF SHARES OF COMMON STOCK 

 

The
total number of shares of Common Stock reserved for issuance by the Company either directly as Stock Awards or underlying Options
granted under this Plan shall not be more than 525,000, approved by the Board of Directors on November 19, 2013. The total number
of shares of Common Stock reserved for such issuance may be increased only by a resolution adopted by the Board of Directors and
amendment of this Plan. Such Common Stock may be authorized and unissued or reacquired Common Stock of the Company.

 

    	 

    	 

    

 

SECTION
7. PURCHASE OF SHARES OF COMMON STOCK 

 

7.1
As soon as practicable after the determination by the Committee and approval by the Board of Directors (if necessary, pursuant
to Section 4 hereof) of the Eligible Participants and the number of shares an Eligible Participant may be issued directly as a
Stock Award or eligible to purchase pursuant to an Option, the Committee shall give written notice thereof to each Eligible Participant,
which notice may be accompanied by the Grant of Option, if appropriate, to be executed by such Eligible Participant.

 

7.2
The negotiated cost basis of stock issued directly as a Stock Award or the exercise price for each Option to purchase shares of
Common Stock pursuant to paragraph 7.1 shall be as determined by the Committee, it being understood that the price so determined
by the Committee may vary from one Eligible Participant to another. In computing the negotiated direct issue price as a Stock
Award or the Option exercise price per share of Common Stock, the Committee shall take into consideration, among other factors,
the restrictions set forth in Section 11 hereof.

 

SECTION
8. TERMS AND CONDITIONS OF OPTIONS 

 

The
Committee shall determine the terms and conditions of each Option granted to Eligible Participants, which terms shall be set forth
in writing. The terms and conditions so set by the Committee may vary from one Eligible Participant to another. In the event that
all the Committee approves an Option permitting deferred payments, the Eligible Participant’s obligation to pay for such Common
Stock may be evidenced by a promissory note executed by such Eligible Participant and containing such modifications thereto and
such other provisions as the Committee, in its sole discretion, may determine.

 

SECTION
9. DELIVERY OF SHARES OF COMMON STOCK UPON EXERCISE OF OPTION 

 

The
Company shall deliver to each Eligible Participant such number of shares of Common Stock as such Eligible Participant is entitled
to receive pursuant to a Stock Award or elects to purchase upon exercise of the Option. Such shares, which shall be fully paid
and nonassessable upon the issuance thereof (unless a portion or all of the purchase price shall be paid on a deferred basis)
shall be represented by a certificate or certificates registered in the name of the Eligible Participant and stamped with an appropriate
legend referring to the restrictions thereon, if any. Subject to the terms and provisions of the laws of the State of California
and the written agreement to which he is a party, an Eligible Participant shall have all the rights of a stockholder with respect
to such shares, including the right to vote the shares and to receive all dividends or other distributions paid or made with respect
thereto (except to the extent such Eligible Participant defaults under a promissory note, if any, evidencing the deferred purchase
price for such shares), provided that such shares shall be subject to the restrictions hereinafter set forth. In the event of
a merger or consolidation to which the Company is a party, or of any other acquisition of a majority of the issued and outstanding
shares of Common Stock of the Company involving an exchange or a substitution of stock of an acquiring corporation for Common
Stock of the Company, or of any transfer of all or substantially all of the assets of the Company in exchange for stock of an
acquiring corporation, a determination as to whether the stock of the acquiring corporation so received shall be subject to the
restrictions set forth in Section 11 shall be made solely by the acquiring corporation.

 

    	 

    	 

    

 

SECTION
10. RIGHTS OF EMPLOYEES; ELIGIBLE PARTICIPANTS 

 

10.1
Employment. Nothing contained in this Plan or in any Option or Stock Award granted under this Plan shall confer upon any
Eligible Participant any right with respect to the continuation of his or her employment by the Company or any Affiliated Corporation,
or interfere in any way with the right of the Company or any Affiliated Corporation, subject to the terms of any separate employment
agreement to the contrary, at any time to terminate such employment or to increase or decrease the compensation of the Eligible
Participant from the rate in existence at the time of the grant of an Option or Stock Award. Whether an authorized leave of absence
shall constitute termination of employment shall be determined by the Committee at the time.

 

10.2
Non-transferability. No right or interest of any Eligible Participant in an Option or Stock Award shall be assignable or
transferable during the lifetime of the Eligible Participant, either voluntarily or involuntarily, or subjected to any lien, directly
or indirectly, by operation of law, or otherwise, including execution, levy, garnishment, attachment, pledge or bankruptcy. However,
the Board of Directors may, in its sole discretion, permit transfers to family members if and to the extent such transfers are
permissible under applicable securities laws. In the event of an Eligible Participant’s death, an Eligible Participant’s rights
and interest in an Option or Stock Award shall be transferable by testamentary will or the laws of descent and distribution, and
delivery of any shares of Common Stock due under this Plan shall be made to, and exercise of any Options may be made by, the Eligible
Participant’s legal representatives, heirs or legatees. If in the opinion of the Committee a person entitled to payments or to
exercise rights with respect to this Plan is unable to care for his or her affairs because of mental condition, physical condition,
or age, payment due such person may be made to, and such rights shall be exercised by, such person’s guardian, conservator or
other legal personal representative upon furnishing the Committee with evidence satisfactory to the Committee of such status.

 

SECTION
11. GENERAL RESTRICTIONS 

 

11.1
Representations. Eligible Participants to whom an Option or Stock Award is granted shall represent to the Company and agree,
that as a condition of exercising such Option, or receiving such Stock Award, in substance and form satisfactory to the Company
and its counsel that such person is acquiring the Common Stock subject to the Option or Stock Award for his or her own account
for investment and not with any present intention of selling or otherwise distributing the same, other than pursuant to an effective
registration statement under the Securities Act, and to such other effects as the Company deems necessary or appropriate in order
to comply with federal and applicable state securities laws.

 

    	 

    	 

    

 

Shares
shall not be issued under the Plan unless the issuance and delivery of such shares complies with (or is exempt from) all applicable
requirements of law, including (without limitation) the Securities Act, the rules and regulations promulgated thereunder, state
securities laws and regulations, and the regulations of any stock exchange on which the Company’s securities may then be listed,
and the Company has obtained the approval of or a favorable ruling from any governmental agency that the Company determines to
be necessary or advisable.

 

11.2
Restrictions on Transfer of Common Stock. The shares of Common Stock issuable directly as a Stock Award or upon exercise
of an Option may not be offered for sale, sold or otherwise transferred except pursuant to an effective registration statement
or pursuant to an exemption from registration, the availability of which is to be established to the satisfaction of the Company,
and any certificates representing shares of Common Stock will bear a legend to that effect. However, the Company may, in the sole
discretion of the Board of Directors, register under the Securities Act some or all of the shares of Common Stock reserved for
issuance under this Plan. Special resale restrictions may, however, continue to apply to officers, directors, control shareholders
and affiliates of the Company and such persons will be required to obtain an opinion of counsel as regards their ability to resell
shares received pursuant to this Plan.

 

11.3
Compliance with Securities Laws. Each Option or Stock Award shall be subject to the requirement that if at any time counsel
to the Company shall determine that the listing, registration or qualification of the shares of Common Stock subject to such Option
or Stock Award upon any securities exchange or under any state or federal law, or the consent or approval of any governmental
or regulatory body, is necessary as a condition of, or in connection with, the issuance or purchase of shares thereunder, such
Option or Stock Award may not be accepted or exercised in whole or in part unless such listing, registration, qualification, consent
or approval shall have been effected or obtained on conditions acceptable to the Committee. Nothing herein shall be deemed to
require the Company to apply for or to obtain such listing, registration or qualification.

 

11.4
Changes in Accounting Rules. Notwithstanding any other provision of this Plan to the contrary, if, during the term of this
Plan, any changes in the financial or tax accounting rules applicable to Options or Stock Awards shall occur that, in the sole
judgment of the Committee, may have a material adverse effect on the reported earnings, assets or liabilities of the Company,
the Committee shall have the right and power to modify as necessary, or cancel, any then outstanding and unexercised Options.

 

SECTION
12. COMPLIANCE WITH TAX REQUIREMENTS 

 

Each
Eligible Participant shall be liable for payment of all applicable federal, state and local income taxes incurred as a result
of the receipt of a Stock Award or an Option, the exercise of an Option, and the sale of any shares of Common Stock received pursuant
to a Stock Award or upon exercise of an Option. The Company may be required, pursuant to applicable tax regulations, to withhold
taxes for an Eligible Participant, in which case the Company’s obligations to deliver shares of Common Stock upon the exercise
of any Option granted under this Plan or pursuant to any Stock Award, shall be subject to the Eligible Participant’s satisfaction
of all applicable federal, state and local income and other income tax withholding requirements.

 

    	 

    	 

    

 

SECTION
13. PLAN BINDING UPON ASSIGNS OR TRANSFEREES 

 

In
the event that, at any time or from time to time, any Option or Stock Award is assigned or transferred to any party (other than
the Company) pursuant to the provisions of Section 10.2 hereof, such party shall take such Option or Stock Award pursuant to all
provisions and conditions of this Plan, and, as a condition precedent to the transfer of such interest, such party shall agree
(for and on behalf of himself or itself, his or its legal representatives and his or its transferees and assigns) in writing to
be bound by all provisions of this Plan.

 

SECTION
14. COSTS AND EXPENSES 

 

All
costs and expenses with respect to the adoption, implementation, interpretation and administration of this Plan shall be borne
by the Company.

 

SECTION
15. CHANGES IN CAPITAL STRUCTURE OF THE COMPANY 

 

Appropriate
adjustments shall be made to the number of shares of Common Stock issuable pursuant to an incomplete or pending Stock Award that
has not yet been delivered or upon exercise of any Options and the exercise price thereof in the event of: (i) a subdivision or
combination of any of the shares of capital stock of the Company; (ii) a dividend payable in shares of capital stock of the Company;
(iii) a reclassification of any shares of capital stock of the Company; or (iv) any other change in the capital structure of the
Company.

 

SECTION
16. PLAN AMENDMENT, MODIFICATION AND TERMINATION 

 

The
Board, upon recommendation of the Committee or at its own initiative, at any time may terminate and at any time and from time
to time and in any respect, may amend or modify this Plan, including:

 

(a)
Increase the total amount of Common Stock that may be awarded under this Plan, except as provided in Section 15 of this Plan;

 

b)
Change the classes of persons from which Eligible Participants may be selected or materially modify the requirements as to eligibility
for participation in this Plan;

 

(c)
Increase the benefits accruing to Eligible Participants; or

 

(d)
Extend the duration of this Plan.

 

Any
Option or other Stock Award granted to a Eligible Participant prior to the date this Plan is amended, modified or terminated will
remain in effect according to its terms unless otherwise agreed upon by the Eligible Participant; provided, however, that this
sentence shall not impair the right of the Committee to take whatever action it deems appropriate under Section 11 or Section
15. The termination or any modification or amendment of this Plan shall not, without the consent of an Eligible Participant, affect
his rights under an Option or other Stock Award previously granted to him.

 

    	 

    	 

    

 

SECTION
17. EFFECTIVE DATE OF THIS PLAN 

 

17.1
Effective Date. This Plan is effective as of November 19, 2013, the date it was adopted by the Board of Directors of the
Company.

 

17.2
Duration of this Plan. This Plan shall terminate at midnight on November 18, 2018,
which is the day before the fifth anniversary of the
Effective Date, and may be extended thereafter or terminated prior thereto by action of the Board of Directors; and no Option
or Stock Award shall be granted after such termination. Options and Stock Awards outstanding at the time of this Plan termination
may continue to be exercised, or become free of restrictions, in accordance with their terms. 

 

SECTION
18. BURDEN AND BENEFIT 

 

The
terms and provisions of this Plan shall be binding upon, and shall inure to the benefit of, each Eligible Participant, his executives
or administrators, heirs, and personal and legal representatives.

 

Approved
by the Board of Directors of Micro Imaging Technology, Inc. on November 19, 2013.

 

 

	Dated:
    November 19, 2013	 
	 	 
	/s/
    Jeffrey Nunez	 
	Jeffrey
    Nunez, Chairman

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}]]