Document:

Exhibit 4.2

AGREEMENT FOR SHARE EXCHANGE

This AGREEMENT FOR SHARE EXCHANGE (this “Agreement”) is entered into on September 26,2007, by and between Green Dragon Wood Products, Inc., a Florida corporation (“GREEN DRAGON FL”), and Fit Sum Group Limited, a British Virgin Islands company (“FIT SUM”).  

RECITALS

GREEN DRAGON FL desires to complete a share exchange transaction pursuant to which GREEN DRAGON FL shall acquire certain shares of the common stock of FIT SUM in exchange for delivering to FIT SUM a certain number of shares of the voting stock of GREEN DRAGON FL as set forth below; and 

The Board of Directors of GREEN DRAGON FL and the Board of Directors of FIT SUM have each approved the proposed transaction, contingent upon satisfaction prior to closing of all of the terms and conditions of this Agreement.

AGREEMENT

THE PARTIES desire to make certain representations, warranties and agreements in connection with completion of the proposed share exchange transaction.

NOW, THEREFORE, in consideration of the foregoing recitals, which shall be considered an integral part of this Agreement, and the covenants, conditions, representations and warranties hereinafter set forth, the parties hereby agree as follows:

ARTICLE I 

THE EXCHANGE

1.1      The Exchange. At the Closing (as hereinafter defined), GREEN DRAGON FL shall acquire from the shareholders of FIT SUM a total 50,000 shares (the allocation of which is specifically set forth on Exhibit A attached hereto) in FIT SUM.  Consideration to be paid by GREEN DRAGON FL shall be a total of 4,000,000 shares of its common stock (the “Exchange Shares”) allocated pro rata based on each shareholder’s contribution. The Exchange shall take place upon the terms and conditions provided for in this Agreement and in accordance with applicable law.  For Federal income tax purposes, it is intended that the Exchange shall constitute a tax-free reorganization within the meaning of Section 368(a)(1)(B) of the Internal Revenue Code of 1986, as amended (the “Code”). 

1.2    Closing and Effective Time. Subject to the provisions of this Agreement, the parties shall hold a closing (the "Closing") on (i) the first business day on which the last of the conditions set forth in Article V to be fulfilled prior to the Closing is fulfilled or waived or (ii) at such time and place as the parties hereto may agree. Such date shall be the date of Exchange (the "Effective Time"). 

 ARTICLE II

REPRESENTATIONS AND WARRANTIES

2.1    Representations and Warranties of GREEN DRAGON FL. GREEN DRAGON FL represents and warrants to FIT SUM as follows:

(a)       Organization, Standing and Power. GREEN DRAGON FL is a corporation duly organized, validly existing and in good standing under the laws of Florida, has all requisite power and authority to own, lease and operate its properties and to carry on its business as now being conducted, and is duly qualified and in good 

standing to do business in each jurisdiction in which the nature of its business or the ownership or leasing of its properties makes such qualification necessary.

 

(b)       Capital Structure. As of the date of execution of this Agreement, the authorized capital stock of GREEN DRAGON FL consists of 500,000,000 shares of Common Stock with a par value of $0.001 per share. The Exchange Shares to be issued pursuant to this Agreement shall be, when issued pursuant to the terms of the resolution of the Board of Directors of GREEN DRAGON FL approving such issuance, validly issued, fully paid and nonassessable and not subject to preemptive rights. GREEN DRAGON FL has no other options, warrants, calls, agreements or other rights to purchase or otherwise acquire from GREEN DRAGON FL at any time, or upon the happening of any stated event, any shares of the capital stock of GREEN DRAGON FL whether or not presently issued or outstanding except as set forth herein.  

(c)    Certificate of Incorporation, Bylaws, and Minute Books. The copies of the Articles of Incorporation and of the Bylaws of GREEN DRAGON FL which have been delivered to FIT SUM are true, correct and complete copies thereof. The minute book of GREEN DRAGON FL, which has been made available for inspection, contains accurate minutes of all meetings and accurate consents in lieu of meetings of the Board of Directors (and any committee thereof) and of the shareholders of GREEN DRAGON FL since the date of incorporation and accurately reflects all transactions referred to in such minutes and consents in lieu of meetings.

(d)    Authority. GREEN DRAGON FL has all requisite power and authority to enter into this Agreement and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby have been duly authorized by the Board of Directors of GREEN DRAGON FL. No other corporate or shareholder proceedings on the part of GREEN DRAGON FL are necessary to authorize the Exchange, or the other transactions contemplated hereby.

(e)    Conflict with Other Agreements; Approvals. The execution and delivery of this Agreement does not, and the consummation of the transactions contemplated hereby will not result in any violation of, or default (with or without notice or lapse of time, or both) under, or give rise to a right of termination, cancellation or acceleration of any obligation or the loss of a material benefit under, or the creation of a lien, pledge, security interest or other encumbrance on assets (any such conflict, violation, default, right of termination, cancellation or acceleration, loss or creation, a "violation") pursuant to any provision of the Articles of Incorporation or Bylaws or any organizational document of GREEN DRAGON FL or, result in any violation of any loan or credit agreement, note, mortgage, indenture, lease, benefit plan or other agreement, obligation, instrument, permit, concession, franchise, license, judgment, order, decree, statute, law, ordinance, rule or regulation applicable to GREEN DRAGON FL which violation would have a material adverse effect on GREEN DRAGON FL taken as a whole. No consent, approval, order or authorization of, or registration, declaration or filing with, any court, administrative agency or commission or other governmental authority or instrumentality, domestic or foreign (a "Governmental Entity") is required by or with respect to GREEN DRAGON FL in connection with the execution and delivery of this Agreement by GREEN DRAGON FL or the consummation by GREEN DRAGON FL of the transactions contemplated hereby.

(f)    Books and Records. GREEN DRAGON FL has made and will make available for inspection by FIT SUM upon reasonable request all the books of GREEN DRAGON FL relating to the business of GREEN DRAGON FL. Such books of GREEN DRAGON FL have been maintained in the ordinary course of business. All documents furnished or caused to be furnished to FIT SUM by GREEN DRAGON FL are true and correct copies, and there are no amendments or modifications thereto except as set forth in such documents.

(g)    Compliance with Laws. GREEN DRAGON FL is and has been in compliance in all material respects with all laws, regulations, rules, orders, judgments, decrees and other requirements and policies imposed by any Governmental Entity applicable to it, its properties or the operation of its businesses.

(h)    Dilutive Securities. GREEN DRAGON FL has no dilutive securities of any kind, including but not limited to warrants, options or employee stock options outstanding.

(i)    Litigation. There is no suit, action or proceeding pending, or, to the knowledge of GREEN DRAGON FL, threatened against or affecting GREEN DRAGON FL which is reasonably likely to have a material adverse effect on GREEN DRAGON FL, nor is there any judgment, decree, injunction, rule or order of any Governmental Entity or arbitrator outstanding against GREEN DRAGON FL having, or which, insofar as reasonably can be foreseen, in the future could have, any such effect.

(j)    Tax Returns. GREEN DRAGON FL has duly filed or will file prior to Closing any tax reports and returns required to be filed by it and has fully paid all taxes and other charges claimed to be due from it by any federal, state or local taxing authorities. There are not now any pending questions relating to or claims asserted for, taxes or assessments asserted upon GREEN DRAGON FL.

2.2    Representations and Warranties of FIT SUM. FIT SUM represents and warrants to GREEN DRAGON FL as follows:

(a)    Organization, Standing and Power. FIT SUM is a corporation duly organized, validly existing and in good standing under the laws of the British Virgin Islands; each company has all requisite power and authority to own, lease and operate its properties and to carry on its business as now being conducted, and is duly qualified and in good standing to do business in each jurisdiction in which the nature of its business or the ownership or leasing of its properties makes such qualification necessary except for any such failure, which when taken together with all other failures, is not likely to have a material adverse effect on the business of the relevant Acquirer taken as a whole. For purpose of this Section 2.2, “material adverse effect” shall mean, with respect to each Acquirer, the result of one or more events, charges or effects which, individually or in the aggregate, would have a material adverse effect or impact on the business, assets, results of operations, intellectual property rights, prospects or financial condition of such party, taken as a whole, or is reasonably likely to delay or prevent the consummation of the transactions contemplated hereby.

(b)    Capital Structure. There are no options, warrants, calls, agreements or other rights to purchase or otherwise acquire from FIT SUM at any time, or upon the happening of any stated event, any share of the capital stock of FIT SUM.

(c)    Certificate of Incorporation, Bylaws and Minute Books. Copies of the Certificate of Incorporation and of the other corporate documents of FIT SUM which will be delivered to GREEN DRAGON FL are true, correct and complete copies thereof. The minute books of FIT SUM which will be made available for inspection contain accurate minutes of all meetings and accurate consents in lieu of meetings of the Board of Directors (and any committee thereof) and of the shareholders of FIT SUM since the date of incorporation and accurately reflect all transactions referred to in such minutes and consents in lieu of meetings.

(d)    Authority. FIT SUM has all requisite power to enter into this Agreement and, subject to approval of the proposed transaction by its shareholders, has the requisite power and authority to consummate the transactions contemplated hereby. Except as specified herein, no other corporate or shareholder proceedings on the part of FIT SUM are necessary to authorize the Exchange and the other transactions contemplated hereby.

 

(e)    Conflict with Agreements; Approvals. The execution and delivery of this Agreement does not, and the consummation of the transactions contemplated hereby will not, conflict with, or result in any violation of any provision of the Certificate of Incorporation or Bylaws of FIT SUM or of any loan or credit agreement, note, mortgage, indenture, lease, benefit plan or other agreement, obligation, instrument, permit, concession, franchise, license, judgment, order, decree, statute, law, ordinance, rule or regulation applicable to FIT SUM or its properties or assets except for any such conflict or violation, which when taken together with all other conflict or violation, is not likely to have a material adverse effect on the business of the relevant Acquirer taken 

as a whole. No consent, approval, order or authorization of, or registration, declaration or filing with, any Governmental Entity is required by or with respect to FIT SUM in connection with the execution and delivery of this Agreement by FIT SUM, or the consummation by FIT SUM of the transactions contemplated hereby.

(f)    Books and Records. FIT SUM has made and will make available for inspection by GREEN DRAGON FL upon reasonable request all the books of account, relating to the business of FIT SUM. Such books of account have been maintained in the ordinary course of business. All documents furnished or caused to be furnished to GREEN DRAGON FL by FIT SUM are true and correct copies, and there are no amendments or modifications thereto except as set forth in such documents.

(g)    Compliance with Laws. FIT SUM is and has been in compliance in all material respects with all laws, regulations, rules, orders, judgments, decrees and other requirements and policies imposed by any Governmental Entity applicable to it, its properties or the operation of its businesses.

(h)    Liabilities and Obligations. FIT SUM has no material liabilities or obligations (absolute, accrued, contingent or otherwise) except (i) liabilities that are reflected and reserved against on the FIT SUM financial statements delivered to GREEN DRAGON FL that have not been paid or discharged since the date thereof and (ii) liabilities incurred since the date of such financial statements in the ordinary course of business consistent with past practice and in accordance with this Agreement.

(i)    Litigation. There is no suit, action or proceeding pending, or, to the knowledge of FIT SUM threatened against or affecting FIT SUM, which is reasonably likely to have a material adverse effect on FIT SUM, nor is there any judgment, decree, injunction, rule or order of any Governmental Entity or arbitrator outstanding against FIT SUM having, or which, insofar as reasonably can be foreseen, in the future could have, any such effect.

(j)    Taxes. FIT SUM has filed or will file within the time prescribed by law (including extension of time approved by the appropriate taxing authority) all tax returns and reports required to be filed with all other jurisdictions where such filing is required by law; and FIT SUM has paid, or made adequate provision for the payment of all taxes, interest, penalties, assessments or deficiencies due and payable on, and with respect to such periods. FIT SUM knows of (i) no other tax returns or reports which are required to be filed which have not been so filed and (ii) no unpaid assessment for additional taxes for any fiscal period or any basis therefore.

(k)    Licenses, Permits; Intellectual Property. FIT SUM owns or possesses in the operation of its business all material authorizations which are necessary for it to conduct its business as now conducted. Neither the execution nor delivery of this Agreement nor the consummation of the transactions contemplated hereby will require any notice or consent under or have any material adverse effect upon any such authorizations.

 2.3    Additional Representations and Warranties. 

(a)    Shares Free and Clear. The shares of FIT SUM are free and clear of any liens, claims, options, charges or encumbrances of any nature.

(b)    Unqualified Right to Transfer Shares. The shareholders of FIT SUM have the unqualified right to sell, assign, and deliver the shares of FIT SUM and, upon consummation of the transactions contemplated by this Agreement, GREEN DRAGON FL will acquire good and valid title to such shares, free and clear of all liens, claims, options, charges, and encumbrances of whatsoever nature.

(c)    Agreement and Transaction Duly Authorized. Neither the execution and delivery of this Agreement nor the consummation of the transactions contemplated hereby will constitute a violation or default under any term or provision of any contract, commitment, indenture, other agreement or restriction of any kind or character to which such shareholders are a party or by which such shareholders are bound.

(d)    Share Ownership. Shareholders are presently shareholders of FIT SUM.

 

ARTICLE III

COVENANTS RELATING TO CONDUCT OF BUSINESS

RESERVED

ARTICLE IV

ADDITIONAL AGREEMENTS AND RELATED TRANSACTIONS

4.1    Restricted GREEN DRAGON FL Shares. The Exchange Shares will not be registered under the Securities Act, but will be issued pursuant to applicable exemptions from such registration requirements for transactions not involving a public offering and/or for transactions which constitute “offshore transactions” as defined in Regulation S under the Securities Act of 1933. Accordingly, the Exchange Shares will constitute "restricted securities" for purposes of the Securities Act and the holders of Exchange Shares will not be able to transfer such shares except upon compliance with the registration requirements of the Securities Act or in reliance upon an available exemption therefrom. 

4.2    Access to Information. Upon reasonable notice, GREEN DRAGON FL and FIT SUM shall each afford to the officers, employees, accountants, counsel and other representatives of the other company, and with respect to FIT SUM, the Acquired Entities, access to all their respective properties, books, contracts, commitments and records and, during such period, each of GREEN DRAGON FL and FIT SUM shall furnish promptly to the other (a) a copy of each report, schedule, registration statement and other document filed or received by it during such period pursuant to the requirements of Federal or state securities laws and (b) all other information concerning its business, properties and personnel as such other party may reasonably request. Unless otherwise required by law, the parties will hold any such information which is nonpublic in confidence until such time as such information otherwise becomes publicly available through no wrongful act of either party, and in the event of termination of this Agreement for any reason each party shall promptly return all nonpublic documents obtained from any other party, and any copies made of such documents, to such other party.

4.3 Legal Conditions to Exchange. Each of GREEN DRAGON FL and FIT SUM shall take all reasonable actions necessary to comply promptly with all legal requirements which may be imposed on itself with respect to the Exchange and will promptly cooperate with and furnish information to each other in connection with any such requirements imposed upon any of them or upon any of their related entities or subsidiaries in connection with the Exchange. Each party shall take all reasonable actions necessary to obtain (and will cooperate with each other in obtaining) any consent, authorization, order or approval of, or any exemption by, any Governmental Entity or other public or private third party, required to be obtained or made by GREEN DRAGON FL or FIT SUM or any of their related entities or subsidiaries in connection with the Exchange or the taking of any action contemplated thereby or by this Agreement.

ARTICLE V

CONDITIONS PRECEDENT

5.1    Conditions to Each Party's Obligation to Effect the Exchange. The respective obligations of each party to effect the Exchange shall be conditional upon the filing, occurring or obtainment of all authorizations, consents, orders or approvals of, or declarations or filings with, or expirations of waiting periods imposed by any governmental entity or by any applicable law, rule, or regulation governing the transactions contemplated hereby. FIT SUM represents and warrant that it has obtained the appropriate required consents of the PRC government, if any

5.2    Conditions to Obligations of GREEN DRAGON FL. The obligation of GREEN DRAGON FL to effect the Exchange is subject to the satisfaction of the following conditions on or before the Closing Date unless waived by GREEN DRAGON FL:

(a)    Representations and Warranties. The representations and warranties of FIT SUM set forth in this Agreement shall be true and correct in all material respects as of the date of this Agreement and (except to the extent such representations and warranties speak as of an earlier date) as of the Closing Date as though made on and as of the Closing Date, except as otherwise contemplated by this Agreement, and FIT SUM shall complete all government and legal process to transfer the shares of common stock to GREEN DRAGON FL.

(b)    Performance of Obligations of FIT SUM. FIT SUM shall have performed in all material respects all obligations required to be performed by it under this Agreement at or prior to the Closing, and GREEN DRAGON FL shall have received a certificate signed on behalf of GREEN DRAGON FL by the President to such effect.

(c)    Closing Documents. GREEN DRAGON FL shall have received all closing documents as counsel for GREEN DRAGON FL shall reasonably request.

(d)    Consents. FIT SUM shall have obtained the consent or approval of each person whose consent or approval shall be required in connection with the transactions contemplated hereby under any loan or credit agreement, note, mortgage, indenture, lease or other agreement or instrument, except those for which failure to obtain such consents and approvals would not, in the reasonable opinion of GREEN DRAGON FL, individually or in the aggregate, have a material adverse effect on FIT SUM and of its subsidiaries and related entities taken as a whole upon the consummation of the transactions contemplated hereby. FIT SUM shall also have received the approval of its shareholders in accordance with applicable law.

(e)    Due Diligence Review. GREEN DRAGON FL shall have completed to its reasonable satisfaction a review of the business, operations, finances, assets and liabilities of FIT SUM and shall not have determined that any of the representations or warranties of FIT SUM or its shareholders contained herein are, as of the date hereof or the Closing, inaccurate in any material respect or that FIT SUM or its shareholders is otherwise in violation of any of the provisions of this Agreement.

 

(f)    Pending Litigation. There shall not be any litigation or other proceeding pending or threatened to restrain or invalidate the transactions contemplated by this Agreement, which, in the sole reasonable judgment of GREEN DRAGON FL, made in good faith, would make the consummation of the Exchange imprudent. In addition, there shall not be any other litigation or other proceeding pending or threatened against FIT SUM, the consequences of which, in the judgment of GREEN DRAGON FL, could be materially adverse to FIT SUM.

5.3    Conditions to Obligations of FIT SUM. The obligations of FIT SUM to effect the Exchange is subject to the satisfaction of the following conditions unless waived by FIT SUM:

(a)    Representations and Warranties. The representations and warranties of GREEN DRAGON FL set forth in this Agreement shall be true and correct in all material respects as of the date of this Agreement and (except to the extent such representations speak as of an earlier date) as of the Closing Date as though made on and as of the Closing Date, except as otherwise contemplated by this Agreement, FIT SUM shall have received a certificate signed on behalf of GREEN DRAGON FL by the President to such effect.

(b)    Performance of Obligations of GREEN DRAGON FL. GREEN DRAGON FL shall have performed in all material respects all obligations required to be performed by it under this Agreement at or prior to the Closing Date, and GREEN DRAGON FL shall have received a certificate signed on behalf of GREEN DRAGON FL by the President to such effect.

 

(c)    Closing Documents. FIT SUM shall have received all closing documents as counsel for FIT SUM shall reasonably request.

(d)    Consents. GREEN DRAGON FL shall have obtained the consent or approval of each person whose consent or approval shall be required in connection with the transactions contemplated hereby.

(e)    Due Diligence Review. FIT SUM shall have completed to its reasonable satisfaction a review of the business, operations, finances, assets and liabilities of GREEN DRAGON FL and shall not have determined that any of the representations or warranties of GREEN DRAGON FL contained herein are, as of the date hereof or the Closing Date, inaccurate in any material respect or that GREEN DRAGON FL is otherwise in violation of any of the provisions of this Agreement.

(f)    Pending Litigation. There shall not be any litigation or other proceeding pending or threatened to restrain or invalidate the transactions contemplated by this Agreement, which, in the sole reasonable judgment of FIT SUM, made in good faith, would make the consummation of the Exchange imprudent. In addition, there shall not be any other litigation or other proceeding pending or threatened against GREEN DRAGON FL the consequences of which, in the judgment of FIT SUM, could be materially adverse to GREEN DRAGON FL.

ARTICLE VI

TERMINATION AND AMENDMENT

6.1    Termination. This Agreement may be terminated at any time prior to the Effective Time:

(a)    by mutual consent of GREEN DRAGON FL and FIT SUM;

 

(b)    by either GREEN DRAGON FL or FIT SUM if there has been a material breach of any representation, warranty, covenant or agreement on the part of GREEN DRAGON FL or FIT SUM, as the case may be set forth in this Agreement which breach has not been cured within five (5) business days following receipt by the breaching party of notice of such breach, or if any permanent injunction or other order of a court or other competent authority preventing the consummation of the Exchange shall have become final and non-appealable.

6.2    Effect of Termination. In the event of termination of this Agreement by either GREEN DRAGON FL or FIT SUM as provided in Section 6.1, this Agreement shall forthwith become void and there shall be no liability or obligation on the part of any party hereto. In such event, all costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the party incurring such expenses.

6.3    Amendment. This Agreement may be amended by mutual agreement of GREEN DRAGON FL and FIT SUM.   Any such amendment must be by an instrument in writing signed on behalf of each of the parties hereto.

6.4    Extension; Waiver. At any time prior to the Effective Time, the parties hereto, by action taken or authorized by their respective Board of Directors, may, to the extent legally allowed, (a) extend the time for the performance of any of the obligations or other acts of the other parties hereto, (b) waive any inaccuracies in the representations and warranties contained herein or in any document delivered pursuant hereto and (c) waive compliance with any of the agreements or conditions contained herein. Any agreement on the part of a party hereto to any such extension or waiver shall be valid only if set forth in a written instrument signed on behalf of such party.

.ARTICLE VII

GENERAL PROVISIONS

7.1    Survival of Representations, Warranties and Agreements. All of the representations, warranties and agreements in this Agreement or in any instrument delivered pursuant to this Agreement shall survive the Effective Time for as long as the applicable status of limitation shall remain open.

7.2    Notices. All notices and other communications hereunder shall be in writing and shall be deemed given if delivered personally, telecopied (which is confirmed) or mailed by registered or certified mail (return receipt requested) to the parties at the following addresses (or at such other address for a party as shall be specified by like notice):

(a)  If to GREEN DRAGON FL:

6860 Gulfport Blvd. South, #159

South Pasadena, FL 33707

941-723-7564

 (b)  If to FIT SUM:

 

P.O. Box 957

Offshore Incorporations Centre

Road Town, Tortola

British Virgin Islands

7.3    Interpretation. When a reference is made in this Agreement to Sections, such reference shall be to a Section of this Agreement unless otherwise indicated. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Whenever the words "include", "includes" or "including" are used in this Agreement, they shall be deemed to be followed by the words "without limitation". The phrase "made available" in this Agreement shall mean that the information referred to has been made available if requested by the party to whom such information is to be made available.

7.4    Counterparts. This Agreement may be executed in two or more counterparts, all of which shall be considered one and the same agreement and shall become effective when two or more counterparts have been signed by each of the parties and delivered to the other parties, it being understood that all parties need not sign the same counterpart.

7.5    Entire Agreement; No Third Party Beneficiaries; Rights of Ownership. This Agreement (including the documents and the instruments referred to herein) constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof, and is not intended to confer upon any person other than the parties hereto any rights or remedies hereunder.

7.6    Governing Law. This Agreement shall be governed and construed in accordance with the laws of the State of Florida without regard to principles of conflicts of law. Each party hereby irrevocably submits to the jurisdiction of any Florida state court or any federal court in the State of Florida in respect of any suit, action or proceeding arising out of or relating to this Agreement, and irrevocably accept for themselves and in respect of their property, generally and unconditionally, the jurisdiction of the aforesaid courts.

7.7    No Remedy in Certain Circumstances. Each party agrees that, should any court or other competent authority hold any provision of this Agreement or part hereof or thereof to be null, void or unenforceable, or order any party to take any action inconsistent herewith or not to take any action required herein, the other party shall not be entitled to specific performance of such provision or part hereof or thereof or to any other remedy, 

including but not limited to money damages, for breach hereof or thereof or of any other provision of this Agreement or part hereof or thereof as a result of such holding or order.

 

7.8    Publicity. Except as otherwise required by law or the rules of the SEC, so long as this Agreement is in effect, no party shall issue or cause the publication of any press release or other public announcement with respect to the transactions contemplated by this Agreement without the written consent of the other party, which consent shall not be unreasonably withheld.

7.9    Assignment. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any of the parties hereto (whether by operation of law or otherwise) without the prior written consent of the other parties. Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit of and be enforceable by the parties and their respective successors and assigns.

IN WITNESS WHEROF, this Agreement has been signed by the parties set forth below as of the date set forth above.

		
	 

	 
	FIT SUM GROUP LIMITED

/s/LEE KWOK LEUNG_________

	 

	Lee Kwok Leung

	 

	

GREEN DRAGON WOOD PRODUCTS, INC. 

	 
	

/s/LEE KWOK LEUNG_________

	 

	Lee Kwok Leung

	 

	 

	 
	 

	 

	 

	 

	 

	 
	 

	 

	 

EXHIBIT A

			
	Name of Stockholder

	FIT SUM Shares Exchanged

	GREEN DRAGON FL Shares Received 

	Lee Kwok Leung

	30,000

	2,400,000

	Law Mei Ling

	7,500

	600,000

	Yau Chi Wing

	450

	36,000

	Hui Hoi Wah

	450

	36,000

	Yip Lau Pui

	450

	36,000

	Wong Sai Wing

	450

	36,000

	Uchida Kazumi

	450

	36,000

	Ng Tean Yee

	450

	36,000

	Wong Mei Cheng

	450

	36,000

	Cheng Siu Fai

	450

	36,000

	Lam Yick Kwan

	450

	36,000

	Wong Kune Kuan

	450

	36,000

	Yip Chi-him Roger

	870

	69,600

	Law Ching Ting

	450

	36,000

	Ip Lau Shing

	450

	36,000

	Wong Yuet Ha

	450

	36,000

	Yip Wai Man Florence

	450

	36,000

	Law Ching Ping

	450

	36,000

	Ho Kam Lan

	450

	36,000

	Law Kam Lam

	450

	36,000

	Yip Chi Chung

	450

	36,000

	Michael J. Daniels

	450

	36,000

	Lynnette J. Harrison

	450

	36,000

	David Rees

	450

	36,000

	Chan Tsz King

	870

	69,600

	Chun Ka Tsun

	450

	36,000

	Lo Wai Kau, Winnie

	860

	68,800

	 

	 

	 

	Total

	1,000,000

	4,000,000Exhibit 10.1

Exhibit 10.1

MINERAL PROPERTY
PURCHASE AGREEMENT 

THIS AGREEMENT dated for
reference May 24, 2007. 

 

BETWEEN: 

 

TERRY
LONEY of 326 Penman Ave., Box 40 Garson, Ontario P3L 1S5; 

 

(the
"Vendor") 

OF THE FIRST PART

 

AND: 

 

LINCOLN MINING CORP., a company incorporated
pursuant to the laws of Nevada with an office at 9454 Wilshire Blvd, Suite 301,
Beverly Hills, CA, 90212; 

 

(the
"Purchaser") 

OF THE SECOND PART

 

W H E R E A S : 

 

A.                    
The Vendor holds the right to transfer ownership to one mining claim that is
situated in all or parts of Section 8 of T35N, R36E Mount Diablo Base Meridian
in the Elko County, within the state of Nevada and registered as the Zone Lode
Mining Claim (the "Claim"); 

 

B.                    
The Vendor has agreed to sell and the Purchaser has agreed to purchase a 100%
right, interest and title in and to the Claim upon the terms and conditions
hereinafter set forth; 

 

NOW THEREFORE THIS AGREEMENT
WITNESSETH that in consideration of the mutual covenants and provisos herein
contained, THE PARTIES HERETO AGREE AS FOLLOWS: 

 

1.
                    VENDOR’S
REPRESENTATIONS

 

1.1                    The
Vendor represents and warrants to the Purchaser that:

 

           (a)
        The Vendor holds power of
attorney for the registered and beneficial owner of the Claim and holds the
right to transfer title to the Claim and to explore and develop the Claim;

 

           (b)
        The Vendor holds the Claim free
and clear of all liens, charges and claim of others, and the Vendor has a free
and unimpeded right of access to the Claim and has use of the Claim surface for
the herein purposes;

 

      
    (c)         The
Claim has been duly and validly located and recorded in a good and miner-like
manner pursuant to the laws of Nevada and is in good standing in Nevada as of
the date of this Agreement;

2

          (d)
         There are no adverse
claims or challenges against or to the Vendor’s ownership of or title to the
Claim nor to the knowledge of the Vendor is there any basis therefore, and there
are no outstanding agreements or options to acquire or purchase the Claim or any
portion thereof;

 

          (e)
         The Vendor has the full
right, authority and capacity to enter into this Agreement without first
obtaining the consent of any other person or body corporate and the consummation
of the transaction herein contemplated will not conflict with or result in any
breach of any covenants or agreements contained in, or constitute a default
under, or result in the creation of any encumbrance under the provisions of any
indenture, agreement or other instrument whatsoever to which the Vendor is a
party or by which he is bound or to which he is subject; and

 

          (f)
         No proceedings are pending
for, and the Vendor is unaware of any basis for, the institution of any
proceedings which could lead to the placing of either Vendor in bankruptcy, or
in any position similar to bankruptcy.

 

1.2                    The
representations and warranties of the Vendor set out in paragraph 1.1 above form
a part of this Agreement and are conditions upon which the Purchaser has relied
in entering into this Agreement and shall survive the acquisition of any
interest in the Claim by the Purchaser.

 

2.                    
THE PURCHASER'S REPRESENTATIONS 

 

                       The
Purchaser warrants and represents to the Vendor that it is a body corporate,
duly incorporated under the laws of the state of Nevada with full power and
absolute capacity to enter into this Agreement and that the terms of this
Agreement have been authorized by all necessary corporate acts and deeds in
order to give effect to the terms hereof. 

 

3.                    
SALE OF CLAIM 

 

                       The
Vendor hereby sells, grants and devises to the Purchaser a 100% undivided right,
title and interest in and to the Claim in consideration of the Purchaser paying
$10,000 to the Vendor upon the closing of this Agreement. 

 

4.                    
CLOSING 

 

                       The
sale and purchase of the interest in the Claim shall be closed concurrently with
the execution of this Agreement. 

 

5.                    
COVENANTS OF THE PURCHASER 

 

                       The
Purchaser shall perform all work on the Claim in a miner-like manner and shall
comply with all laws, regulations and permitting requirements of the United
States and the State of Nevada including compliance with all: 

3 

          (a)
         environmental statutes,
guidelines and regulations;

 

          (b)
         work permit conditions for
lakes and streams; and

 

          (c)
         work restrictions relating
to forest fire hazards.

 

7.                    
FORCE MAJEURE 

 

                       If
the Purchaser is prevented from or delayed in complying with any provisions of
this Agreement by reason of strikes, labour disputes, lockouts, labour
shortages, power shortages, fires, wars, acts of God, governmental regulations
restricting normal operations or any other reason or reasons beyond the control
of the Purchaser, the time limited for the performance of the various provisions
of this Agreement as set out above shall be extended by a period of time equal
in length to the period of such prevention and delay, and the Purchaser, insofar
as is possible, shall promptly give written notice to the Vendor of the
particulars of the reasons for any prevention or delay under this section, and
shall take all reasonable steps to remove the cause of such prevention or delay
and shall give written notice to the Vendor as soon as such cause ceases to
exist. 

 

8.                    
ENTIRE AGREEMENT 

 

                       This
Agreement constitutes the entire agreement to date between the parties hereto
and supersedes every previous agreement, communication, expectation,
negotiation, representation or understanding, whether oral or written, express
or implied, statutory or otherwise, between the parties with respect to the
subject matter of this Agreement. 

 

9.                    
NOTICE 

 

9.1                    Any
notice required to be given under this Agreement shall be deemed to be well and
sufficiently given if delivered to the other party at its respective address
first noted above, and any notice given as aforesaid shall be deemed to have
been given, if delivered, when delivered, or if mailed, on the fourth business
day after the date of mailing thereof. 

 

9.2                    Either
party may from time to time by notice in writing change its address for the
purpose of this paragraph.

 

10.                   RELATIONSHIP
OF PARTIES 

 

                       Nothing
contained in this Agreement shall, except to the extent specifically authorized
hereunder, be deemed to constitute either party a partner, agent or legal
representative of the other party. 

 

11.                   FURTHER
ASSURANCES 

 

                       The
parties hereto agree to do or cause to be done all acts or things necessary to
implement and carry into effect the provisions and intent of this Agreement.

4

12.                  TIME
OF ESSENCE 

 

                       Time
shall be of the essence of this Agreement. 

 

13.                  TITLES

 

                       The
titles to the respective sections hereof shall not be deemed a part of this
Agreement but shall be regarded as having been used for convenience only. 

 

14.                  CURRENCY

 

                       All
funds referred to under the terms of this Agreement shall be funds designated in
the lawful currency of the United States of America. 

 

15.                  NONSEVERABILITY

 

                       This
Agreement shall be considered and construed as a single instrument and the
failure to perform any of the terms and conditions in this Agreement shall
constitute a violation or breach of the entire instrument or Agreement and shall
constitute the basis for cancellation or termination. 

 

16.                  APPLICABLE
LAW 

 

                       The
situs of the Agreement is Beverly Hills, California, and for all purposes this
Agreement will be governed exclusively by and construed and enforced in
accordance with the laws prevailing in the State of California. 

 

17.                  ENUREMENT

 

                       This
Agreement shall enure to the benefit of and be binding upon the Parties hereto
and their respective successors and assigns. 

 

                        IN
WITNESS WHEREOF this Agreement has been executed as of the day and year
first above written. 

 

 

			
	
  
	
 
	
LINCOLN MINING CORP. 

	
  
	
 
	
  

	
  
	
 
	
  

	
/s/ Terry Loney 
	
 
	
per: /s/ John Pulos 

	
Terry Loney 
	
 
	
John Pulos, President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}]]