Document:

ex1024.htm

Exhibit 10.24

 

 

PROMISSORY NOTE

	
1.  

	
For value received, the undersigned, (hereinafter referred to as the “Borrower”), promises to pay to the order of the Astonia Group Ltd., (hereinafter referred to as  “Lender”), at its principal place of business at c/o Mossack Fonseca & C0 (BVI) Ltd., P.O. Box 3136, Road Town, Tortola, BVI, or at such other place as Lender may designate, the principal sum of US Six Hundred Thousand Dollars (US$600,000) or such lesser amount as shall equal the aggregate amount disbursed to the Borrower by Lender pursuant to the Agreement between the Borrower and Lender, together with interest thereon at the rate of five (5%) percent per annum on the unpaid principal balance, computed from the date of each disbursement to the Borrower, until the Loan is repaid by the Borrower. Principal, together with interest thereon, is due and payable at the end of the loan terms, until said principal and interest shall be paid in full.

	
2.  

	
The Borrower may prepay this Promissory Note in full or in part, without penalty. Any partial prepayment will not excuse any later scheduled payments until the Loan is paid in full. Prepayments shall be applied first to the payment of any outstanding late fees, then to interest and then to principal installments.

	
3.  

	
On the occurrence of any event of default, as defined in paragraph 4 of this Promissory Note, Lender, at its sole election, may take any or all of the following actions:

	
A.  

	
Declare all or any portion of the principal balance, along with accrued interest and late fees, under this Promissory Note to be immediately due and payable and may proceed to enforce this Promissory Note, upon the expiration of not less than thirty (30) days after the date written notice of Lender’s decision to accelerate is sent to Borrower. All amounts due after acceleration shall bear interest at the rate of five percent (5%) per annum. Lender may exercise this option to accelerate during any default by Borrower regardless of any prior forbearance.

 

	
B.  

	
Require Borrower to take any and all action necessary, as security for the loan, to collateralize under duly executed security documents and agrees to be bound by the terms contained therein to Lender as the Secured Party.

 

	
C.  

	
Exercise all of its rights and remedies enumerated herein, which rights are in addition to and not in limitation of any other rights Lender may have under the Agreement and applicable law.

 

	
4.  

	
Each of the following events and conditions shall constitute an event of default under this Promissory Note and the Agreements:

	
A.  

	
Failure of the Borrower to repay any principal, accrued interest, and late fees, if applicable, when due under the terms of this Promissory Note.

	
B.  

	
Failure of the Borrower to comply with, and satisfy, all the terms, conditions, and obligations, required by the Loan Agreement as a condition for this Loan.

 

 

  

  

  

	
C.  

	
Termination of the Loan Agreement pursuant to the terms thereof or breach by the Borrower of any terms or conditions of said Loan Agreement.

	
D.  

	
Occurrence of: (1) the Borrower becoming insolvent or bankrupt or being unable or admitting in writing its inability to pay its debts as they mature or making a general assignment for the benefit of or entering into any composition or arrangement with creditors; (2) proceedings for the appointment of a receiver, trustee, or liquidator of the assets of the Borrower or a substantial part thereof, being authorized or instituted by or against the Borrower; (3) proceedings under any bankruptcy, reorganization, readjustment of debt, insolvency, dissolution, liquidation or other similar law, or any jurisdiction being authorized or instituted against the Borrower; or (4) the Borrower ceases operations, is dissolved, or terminates its existence.

 

	
E.  

	
Discovery of any false or misleading statement, warranty, representation, or fact, whether or not contained in any other Loan Documents, that when made or furnished to the Lender by or on behalf of the Borrower was relied upon by  Lender and induced it to extend the Loan to Borrower.

	
5.  

	
No delay or failure of Lender in the exercise of any right or remedy hereunder or under any other agreement which secures or is related hereto shall affect any such right or remedy, and no single or partial exercise of any such right or remedy shall preclude any further exercise thereof, and no action taken or omitted by Lender shall be deemed a waiver of any such right or remedy.

	
6.  

	
Any notice required to be given to the Borrower hereunder shall be sent to the address shown on the Loan Agreement, or at such other address as the Borrower shall designate in writing to Lender. Notice to either party may be given using the following delivery methods: U.S. Mail, overnight mail, or personal delivery, providing evidence of receipt, to the respective parties identified in this Agreement. Delivery by fax or e-mail is not considered notice for the purposes of this Promissory Note.

	
7.  

	
Borrower agrees to pay all costs and expenses, including reasonable attorney fees, which may be incurred by Lender in the enforcement and defense of the Loan Agreement, including such costs and expenses incurred in any appeal.

	
8.  

	
This Promissory Note shall be binding upon the Borrower and its permitted successors and assigns and upon Lender and its permitted successors and assigns. Without the written consent of Lender, this Promissory Note is not assignable or transferable by Borrower either in whole or in part. Lender may assign its rights under this Promissory Note for security purposes, and in such event the assignee of this Promissory Note shall be entitled to enforce the provisions hereof and shall be a third party beneficiary of this Promissory Note.

	
9.  

	
This Promissory Note shall be construed and enforced in accordance with the laws of the State of California.

 

 

  

  

  

 

	 	 
Heavenstone Corp 

Borrower

Frank Kong 

Name of Authorized Representative

/s/ FRANK KONG

Authorized Signature

President & CEO 

Title

12/26/14

DateCPSM Exhibit 10.1

  Our Code of Ethics and Business Conduct is more than an expression of our commitment to integrity. It represents the guiding values of our organization and helps to instill ethically sound behavior and accountability among all CPSM Employees. We diligently educate employees about our standards, safety procedures, technical advances and provide them with an open door policy to ask questions or report concerns. Every employee, including me, certifies compliance with our standards annually. We hold one another accountable because we understand that our reputation is fundamental to our success and your enjoyment.  
 We believe that you want to conduct business with an organization that values honesty and integrity, not only because the law requires it, but also because it is the right thing to do. At CPSM, our ethical standards have always been set higher than the law requires. We are proud of our ethical heritage and I am personally committed to maintaining these same high standards in the years to come.
 Lawrence CalarcoExhibit 10.1

 

 

 

Agreement To Further
Extend The Closing of The Share Exchange Agreement

 

 

Pursuant to the Share Exchange
Agreement dated August 28, 2014 and the Agreement to Amend the share Exchange Agreement dated September 24, 2015 (collectively
referred to as the “Agreement”) entered into

 

BETWEEN:

 

GOLD UNION, INC., a Delaware
corporation having its principal office at 18th Floor, Canadia Tower #315, Monivong Boulevard, Corner Ang Duong Street, 12202 Phnom
Penh, Cambodia (previously at Shop 35A, Ground Floor, Hop Yick Commercial Centre Phase 1, 33 Hop Choi Street, Yuen Long, NT, Hong
Kong, China, and referred to as “the Company”) and G.U. INTERNATIONAL LIMITED (Company Number: 150871), a wholly owned
subsidiary of the Company, incorporated in the Republic of Seychelles under the International Business Company Acts 1996 of the
Republic of Seychelles, having its registered address at Second Floor, Capital City, Independence Avenue, P.O. Box 1008, Victoria,
Mahe, Republic of Seychelles (referred to as “GUI”);

 

AND

 

KAO WEI-CHEN (aka KAO HSUAN-YING),
holding Taiwan Citizen Identity (No. P 201459182), a citizen of Taiwan (Republic of China) having an address at L8-09 Wisma BU
8, No. 11 Lebuh Bandar Utama, Bandar Utama PJU 6, 47600 Petaling Jaya, Selangor, Malaysia (referred to as “Kao”), the
parties agreed and accepted the terms and conditions set forth therein for the Company to acquire through GUI from Kao and certain
individuals and corporations (referred to as the “PPGCT Investors”) Four Hundred and Eighty (480) shares of the common
stock of PHNOM PENH GOLDEN CORRIDOR TRADING CO. LTD., (Commercial Registration ID No.: Co. 1800KH/2013), a private limited company
incorporated under the laws of the Kingdom of Cambodia having its head office at No.56AB Third Floor, Street 432, Sangkat Tuol
Tompoung 1, Khan Chamkar Mon, Phnom Penh, Kingdom of Cambodia, and an address at No. 1EO, Street 211/138, Sangkat Veal Vong, Khan
7 Makara, Phnom Penh, Kingdom of Cambodia (referred to as “PPGCT Common Stock”), representing 48% of the total issued
and outstanding shares of the PPGCT Common Stock (hereinafter referred to as the “Sale Shares”) for a total consideration
of United States Dollars Five Million (USD 5,000,000) only (hereinafter referred to as the “Consideration”) to be satisfied
by the issuance by the Company of 2,500,000,000 shares of the Company’s common stock in aggregate, valuing the shares of
the Company’s common stock at USD 0.002 per share, to Kao and the PPGCT Investors (referred to as the “Exchange”).

 

Due to certain unforeseen
circumstances, the parties had, via several agreements during the period December 30, 2014 through to September 1, 2015, extended
the closing of the transaction contemplated in the Agreement (referred to as the “Closing”) to on or before September
30, 2015 from October 30, 2014, the initial target date as set forth in Section 2.2 of Article II of the Agreement.

 

In order to complete the
due diligence on Phnom Penh Golden Corridor Trading Co. Ltd. (referred to as “PPGCT”) to the satisfaction of the Company
and GUI, the Company and GUI had, on September 29, 2015, requested Kao and PPGCT Investors for further extension of the Closing.
The parties hereby agree to further extend the Closing to on or before October 31, 2015 or such other date as may be agreed to
by the parties.

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Agreed to on September 30, 2015 by:

 

GOLD UNION, INC. (“The Company”)

 

 

By: /s/ Supachai Sae-Chua

Supachai Sae-Chua

Chief Executive Officer,

Chief Financial Officer and Director

 

 

 

G.U. INTERNATIONAL LIMITED (“GUI”)
Witnessed By:

 

 

By: /s/ Supachai Sae-Chua

Supachai Sae-Chua

Director

 

 

 

 

KAO WEI-CHEN (aka KAO HSUAN-YING) 

(“Kao”) 

 

 

By: /s/ Kao Wei-Chen (aka Kao Hsuan-Ying)

Kao Wei-Chen (aka Kao Hsuan-Ying)

Identity No.: P 201459182

(Taiwan)

 

 

 

 

 

 

 

 

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