Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Lightscape Technologies Inc. - Exhibit10.1

DATED: 10 July 2007 
CORP./55844-5/HSLO/PYYL :
HK:8503BB_96(8) 
(Offline) 

Agreement 

between 

Investec Bank (UK) Limited 

LP Asset Management Limited 

Full Moon Resources Limited
  

  as
Noteholders 

and 

Lightscape Technologies Inc. 

  as Company

and 

Bondy Tan

  as Guarantor 

relating to 

the redemption of 60 US$100,000 10 per cent. 

  redeemable convertible notes due on 31 December 2009 

 

35th Floor Cheung Kong Center 2 Queen’s Road Central Hong Kong

T (852) 2868 1131 F (852) 2810 5040 DX 009121 Central 1 

CONTENTS 

	1.
      	Interpretation
      	1
      
	 	 	 
	2.
      	Redemption
      of Convertible Notes 	3
      
	 	 	 
	3.
      	Payment
      of the Redemption Amount 	4
      
	 	 	 
	4.
      	Completion
      	6
      
	 	 	 
	5.
      	Warranties
      	6
      
	 	 	 
	6.
      	Guarantees
      	8
      
	 	 	 
	7.
      	Confidentiality
      	9
      
	 	 	 
	8.
      	Announcements
      	10
      
	 	 	 
	9.
      	Provisions
      relating to this Agreement 	10
      
	 	 	 
	10.
      	Law
      and Jurisdiction 	13
      

i 

THIS AGREEMENT is dated the 10th day of July 2007
and made 

BETWEEN:

	(1) 	
      Investec Bank (UK) Limited,
      (“Investec”) registered in United Kingdom and having its registered
      office at 2 Gresham Street, London EC2V 7QP, United Kingdom;

	 	 
	(2) 	
      LP Asset Management Limited, (“LP
      Asset”) registered in the British Virgin Islands and having its
      registered office at 2nd Floor, Abbott Building, P.O. Box 933,
      Road Town, Tortola, British Virgin Islands;

	 	 
	(3) 	
      Full Moon Resources Limited, (“Full
      Moon”) registered in the British Virgin Islands and having its
      principal place of business at 33/F Alexandra House, 16-20 Chater Road,
      Central, Hong Kong;

	 	 
		
      Investec, LP Asset and Full Moon are collectively
      referred to as the “Noteholders”.

	 	 
	(4) 	
      Lightscape Technologies Inc. (formerly
      called Global Innovative Systems Inc.), a company incorporated in the
      State of Nevada, United States of America, (the “Company”), having
      its registered office at 3155 East Patrick Lane, Suite 1, Las Vegas, NV
      89120- 3481, Nevada, USA; and

	 	 
	(5) 	
      BONDY TAN, (the “Guarantor”) (HKID
      number D500769(1)) of 2A, Tower 5, Pacificview, 38 Tai Tam Road, Hong
      Kong.

BACKGROUND: 

	(A) 	
      The Noteholders and the Company have agreed to have the
      Company redeem the Convertible Notes (as defined below) held by the
      Noteholders, on and subject to the terms of this Agreement.

	 	 
	(B) 	
      The Guarantor has agreed to guarantee the obligations of
      the Company under this Agreement.

	 	 
	(C) 	
      The Guarantor and the Noteholders have, concurrently with
      the signing of this Agreement, entered into a Charge over Shares whereby
      the 6,974,546 shares in Lightscape Technologies Inc. legally and
      beneficially owned by the Guarantor and entities controlled by the
      Guarantor have been charged in favour of the
Noteholders.

THE PARTIES AGREE THAT: 

	1. 	
      Interpretation

	 	 
	1.1 	
      Definitions

	 	 
		
      In this Agreement where the context admits:

	 	 
		
      "Accrued Interest" means all interest accrued and
      remaining outstanding from time to time and for the time being and payable
      by the Company on the Convertible Notes under the Conditions thereof,
      including but not limited to (i) the fixed rate interest payable quarterly
      on the principal amount of the Convertible Notes as provided in Condition
      2(A); (ii) any additional interest provided in Condition 2(B); and (iii)
      any penalty interest provided in Condition 2(C).

1 

		
      “Authority” means any competent governmental,
      administrative, supervisory, regulatory, judicial, determinative,
      disciplinary, enforcement or tax raising body, authority, agency, board,
      department, court or tribunal of any jurisdiction and whether
      supranational, national, regional or local.

	 	 	 
		
      "Business Day" means a day (other than a Saturday
      or Sunday) on which banks are open for ordinary face to face banking
      business in Hong Kong.

	 	 	 
		
      "Completion" means completion of the redemption of
      the Convertible Notes in accordance with clause 4.

	 	 	 
		
      "Completion Date" means the day on which
      Completion takes place.

	 	 	 
		
      “Conditions” means the terms and conditions of the
      Convertible Notes, and “Condition” means any one of such terms and
      conditions.

	 	 	 
		
      "Confidential Information" means the confidential
      information set out in clause 7.1(A).

	 	 	 
		
      “Consent” means any approval, consent,
      ratification, waiver or other authorisation.

	 	 	 
		
      "Convertible Notes" means the 60 US$100,000 10 per
      cent. redeemable convertible notes due on 31 December 2009 issued by the
      Company to be redeemed pursuant to clause 2.

	 	 	 
		
      "Group" means the Company and each of its
      subsidiaries.

	 	 	 
		
      "Hong Kong" means the Hong Kong Special
      Administrative Region of the People’s Republic of China.

	 	 	 
		
      “Interest Amount” means the amount of Accrued
      Interest on the Convertible Notes (or a proportion of the Convertible
      Notes) as of each Payment Date as provided in clause 3.2 and for such
      period(s) stipulated in clause 3.2.

	 	 	 
		
      “Payment Dates” means the dates on which the
      Company is obliged to pay part of the Redemption Amount as stipulated in
      clause 3.2, or such other date as the Noteholders may agree in writing,
      and “Payment Date” means any one of such dates.

	 	 	 
		
      "Principal Amount" means the amount representing
      the principal amount of the Convertible Notes.

	 	 	 
		
      "Redemption Amount" has the meaning given to that
      term in clause 3.1.

	 	 	 
		
      "Warranties" means the warranties set out in
      clause 5 given by the Company.

	 	 	 
	1.2 	
      Construction of certain references

	 	 	 
		
      In this Agreement, where the context admits:

	 	 	 
		(A) 	
      words and phrases the definitions of which are contained
      or referred to in the Companies Ordinance (Chapter 32 of the Laws of Hong
      Kong) shall be construed as having the meanings thereby attributed to
      them;

	 	 	 
		(B) 	
      references to clauses are references to clauses of this
      Agreement;

2 

	 	(C) 	
      references to the singular shall include the plural and
      vice versa and references to the masculine, the feminine and the neuter
      shall include all such genders;

	 	 	 
	 	(D) 	
      "person" includes any individual, partnership,
      body corporate, corporation sole or aggregate, state or agency of a state,
      and any unincorporated association or organisation, in each case whether
      or not having separate legal personality;

	 	 	 
	 	(E) 	
      "company" includes any body corporate;
  and

	 	 	 
	 	(F) 	
      references to “indemnify” and
      “indemnifying” any person against any liability or circumstance
      include indemnifying him and keeping him harmless from all actions,
      claims, demands and proceedings from time to time made against that person
      and all losses, damages, payments, costs and expenses (including legal
      costs and expenses on a full indemnity basis) made, suffered or incurred
      by that person as a consequence of or which would not have arisen but for
      that liability or circumstance.

	1.3 	
      Headings

	 	 
		
      The headings and sub-headings are inserted for
      convenience only and shall not affect the construction of this
      Agreement.

	 	 
	2. 	
      Redemption of Convertible Notes

	 	 
	2.1 	
      Redemption

	 	 
		
      Notwithstanding any provision in the Conditions to the
      contrary, subject to the terms of this Agreement, the Company shall redeem
      from each of the Noteholders all of the Convertible Notes held by it. Set
      forth below are the details of the Convertible Notes held by each of the
      Noteholders and the Redemption Amount to which it is
  entitled:

	 Name of Noteholder 	Number of 	Principal Amount 	Proportion of 
	  	Convertible Notes 	of Convertible 	Redemption Amount 
	  	  	Notes 	Entitled 
	 	 	 	 
	Investec 	35 	US$3.5 million 	58.33% 
	 	 	 	 
	LP Asset 	15 	US$1.5 million 	25% 
	 	 	 	 
	Full Moon 	10 	US$1 million 	16.67%

	2.2 	
      No partial redemption

	 	 
		
      Neither the Noteholders nor the Company shall be obliged
      to complete the redemption of any of the Convertible Notes unless the
      redemption of all the Convertible Notes is completed
  simultaneously.

3 

	3. 	
      Payment of the Redemption Amount

	 	 	 	 
	3.1 	
      Amount

	 	 	 	 
		
      The Convertible Notes shall be redeemed by the Company on
      the basis of the Principal Amount and the aggregate Interest Amount as
      provided in clause 3.2 (collectively the “Redemption Amount”).
      Payment of such Redemption Amount shall be paid to the Noteholders in
      accordance with clause 2.1.

	 	 	 	 
	3.2 	
      Payment Dates

	 	 	 	 
		
      The Company shall pay the Noteholders the Redemption
      Amount in cash by bank draft in four instalments on or before each of the
      dates set forth below:

	 	 	 	 
		(A) 	
      on or before 10 July 2007, an amount equal to the
      aggregate of:

	 	 	 	 
			(1) 	
      one-sixth (1/6) of the Principal Amount; and

	 	 	 	 
			(2) 	
      an amount equal to the Interest Amount on all of the
      Convertible Notes as at 10 July 2007 (specifically including but not
      limited to all interest due to the Noteholders in respect of the quarter
      ended 30 June 2007);

	 	 	 	 
		(B) 	
      on or before 16 July 2007, an amount equal to the
      aggregate of:

	 	 	 	 
			(1) 	
      one-third (1/3) of the Principal Amount; and

	 	 	 	 
			(2) 	
      an amount equal to the Interest Amount on five-sixth
      (5/6) of the Convertible Notes from 11 July to 16 July 2007
    inclusive;

	 	 	 	 
		(C) 	
      on or before 30 July 2007, an amount equal to the
      aggregate of:

	 	 	 	 
			(1) 	
      one-fourth (1/4) of the Principal Amount; and

	 	 	 	 
			(2) 	
      an amount equal to the Interest Amount on one-half (1/2)
      of the Convertible Notes from 17 July to 30 July 2007 inclusive;
  and

	 	 	 	 
		(D) 	
      on or before 13 August 2007, an amount equal to the
      aggregate of:

	 	 	 	 
			(1) 	
      one-fourth (1/4) of the Principal Amount; and

	 	 	 	 
			(2) 	
      an amount equal to the Interest Amount on one-fourth
      (1/4) of the Convertible Notes from 31 July to 13 August 2007
      inclusive.

	 	 	 	 
	3.3 	
      Failure to make payment

	 	 	 	 
		
      Notwithstanding any other provision in this Agreement to
      the contrary, if the Company fails to make payment as required by clause
      3.2, the Noteholders may at their option by notice in writing served on
      the Company:

	 	 	 	 
		(A) 	
      terminate this Agreement forthwith;

	 	 	 	 
		(B) 	
      extend any of the payment deadlines associated with the
      Payment Dates stipulated in clause 3.2 (with consequential changes to the
      Interest Amount payable); or

4 

	 	(C) 	
      where payment(s) has or have been made in accordance with
      clause 3.2 but short of full payment thereunder (the aggregate of such
      payments referred to herein as “Part Payment”), accept partial
      performance by the Company of its obligations under this Agreement as
      provided in clause 3.5.

	3.4 	
      Termination

	 	 	 
		
      The Noteholders may terminate this Agreement forthwith if
      the Company or the Guarantor breaches any of its or their obligations
      under this Agreement. Termination of this Agreement pursuant to this
      clause 3.4 or clause 3.3(A) shall not affect the Noteholders’ rights
      against the Company and/or the Guarantor.

	 	 	 
	3.5 	
      Partial performance

	 	 	 
		
      If the Noteholders accept partial performance by the
      Company of its obligations under this Agreement as provided in clause
      3.3(C):

	 	 	 
		(A) 	
      Each Noteholder shall deliver to the Company for
      redemption the number of Convertible Notes (rounded down to the nearest
      whole number) held by it as follows:

	Number of Convertible Bonds to be redeemed (rounded down)
    	= 	That Noteholder’s Proportionate Share of the
      Net Redemption Amount divided by 100,000 

“Net Redemption Amount” is the
amount of the Part Payment less US$500,000. 

For the purposes of illustration only:

If Part Payment amounts to
US$4,000,000: 

The Net Redemption Amount is
US$4,000,000 less US$500,00 = US$3,500,000 

Number of Convertible Bonds held by
Investec to be redeemed (rounded down) is: 

58.33% x 3,500,000/100,000 = 20 

A Noteholder’s “Proportionate
Share” is the percentage figure set forth in the last column of the table in
clause 2.1. 

	 	(B) 	
      With respect to the amount of the Part Payment that is
      not utilised for the redemption of Convertible Notes as provided above,
      Noteholders shall be entitled absolutely to that amount in accordance with
      their respective Proportionate Share.

	 	 	 
	 	(C) 	
      Forthwith upon notice being served of the Noteholders’
      acceptance of partial performance pursuant to clause 3.3(C), the Guarantor
      shall pay to each Noteholder its Proportionate Share of the amount
      resulting from the following:

“X” less the amount of the Part
Payment 

where “X” is the Principal Amount of
all the Convertible Notes (i.e. US$6,000,000) plus Accrued Interest thereon up
to and including the date of 

5 

actual payment by Guarantor of all
amounts due by him under this Agreement. 

	 	(D) 	
      Against receipt by the Noteholders of all monies payable
      by the Guarantor under this clause 3.5, each Noteholder shall transfer to
      the Guarantor all remaining Convertible Bonds held by
it.

	3.6 	
      Noteholders’ undertakings in relation to additional
      convertible bonds

	 	 	 
		
      Each of the Noteholders undertakes with the Company that,
      subject to Completion taking place and with effect from Completion, each
      of the Noteholders shall relinquish and forfeit its right to acquire
      further convertible bonds from the Company (as may be prescribed under
      existing contractual arrangements between the Company and each of the
      Noteholders). In addition, prior to Completion none of the Noteholders
      shall exercise such rights to acquire further convertible bonds from the
      Company.

	 	 	 
	4. 	
      Completion

	 	 	 
	4.1 	
      Date and place of Completion

	 	 	 
		
      Completion shall take place at the offices of Simmons
      & Simmons at 35/F Cheung Kong Center, 2 Queens Road Central, Hong
      Kong, at 2:30 pm on 13 August 2007.

	 	 	 
	4.2 	
      Noteholders’ obligations

	 	 	 
		
      On Completion the Noteholders shall, subject to the due
      performance by the Company of its obligations under clauses 3 and 4.3 and
      subject to all of the Warranties remaining true and accurate in all
      respects, deliver to the Company:

	 	 	 
		(A) 	
      the certificates representing the Convertible Notes;
      and

	 	 	 
		(B) 	
      a letter to the Company confirming under seal that none
      of the Noteholders shall claim against the Company, its subsidiaries and
      each of such entities’ directors, officers and shareholders for damages in
      relation to matters or events up to and including the date of such
      Completion.

	 	 	 
	4.3 	
      Company's obligations

	 	 	 
		
      On Completion the Company shall:

	 	 	 
		(A) 	
      redeem all of the Convertible Notes; and

	 	 	 
		(B) 	
      pay to the Noteholders the amount of the Redemption
      Amount remaining to be paid as provided in clause 3.2(D) by bank
    draft.

	 	 	 
	4.4 	
      Completion only upon full payment of Redemption
      Amount

	 	 	 
		
      For the avoidance of doubt, Completion shall only occur
      upon full receipt of the Redemption Amount by each of the
    Noteholders.

	 	 	 
	5. 	
      Warranties

The Company warrants to the Noteholders as follows:- 

6 

	5.1 	
      the Company is validly incorporated, in existence and
      duly registered under the laws of the jurisdiction of its
      incorporation;

	 	 	 
	5.2 	
      the Company has the requisite power and authority to
      enter into and perform this Agreement;

	 	 	 
	5.3 	
      this Agreement constitutes binding obligations of the
      Company in accordance with its terms;

	 	 	 
	5.4 	
      no order has been made and no resolution has been passed
      for the winding up of the Company or for a provisional liquidator to be
      appointed in respect of it and no petition has been presented and no
      meeting has been convened for the purposes of winding up the
    Company;

	 	 	 
	5.5 	
      no administration order has been made and no petition has
      been presented and no other action for such an order has been taken in
      respect of the Company;

	 	 	 
	5.6 	
      no receiver (which expression shall include an
      administrative receiver) has been appointed in respect of the
    Company;

	 	 	 
	5.7 	
      the Company has obtained all necessary shareholder and
      board approvals in respect of the entry into of this Agreement;

	 	 	 
	5.8 	
      the execution and delivery of, and the performance by the
      Company of its obligations under, this Agreement will not:

	 	 	 
		(A) 	
      be or result in a breach of any provision of the
      memorandum or articles of association of the Company;

	 	 	 
		(B) 	
      be or result in a breach of, or constitute a default
      under, any instrument to which the Company is a party or by which the
      Company is bound and which is material in the context of the transactions
      contemplated by this Agreement;

	 	 	 
		(C) 	
      be or result in a breach of any order, judgment or decree
      of any court or governmental agency to which the Company is a party or by
      which the Company is bound and which is material in the context of the
      transactions contemplated by this Agreement; or

	 	 	 
		(D) 	
      save as provided herein, require the Company to obtain
      any consent or approval of, or give any notice to or make any registration
      with, any Authority which has not been obtained or made at the date hereof
      both on an unconditional basis and on a basis which cannot be revoked
      (save pursuant to any legal or regulatory entitlement to revoke the same
      other than by reason of any misrepresentation or misstatement);
  and

	 	 	 
	5.9 	
      the Company is solvent and able to meet its payment
      obligations as they fall due and will continue to be solvent and able to
      pay its debts as they fall due following the payment of the Redemption
      Amount.

Each of the foregoing Warranties is given on the basis that it
will remain true and accurate in all respects up to and including Completion and
the Company undertakes to forthwith disclose in writing to the Noteholders any
matter or thing which may arise or become known to the Company after the date of
this Agreement and before Completion which is inconsistent with any of the
Warranties or which is material to be known to the Noteholders accepting the
Redemption 

7 

Amount stipulated by this Agreement. In the event of it
becoming apparent on or before Completion that the Company is in breach of any
of the Warranties or any other term of this Agreement the Noteholders may at
their option, without restricting their rights or their ability to any other
legal or equitable relief, either: 

	 	(A) 	
      rescind this Agreement by notice in writing to the
      Company; or

	 	 	 
	 	(B) 	
      proceed to Completion (but without prejudice to its right
      to claim for breach of this Agreement or the
Warranties).

	6. 	
      Guarantees

	 	 	 	 
	6.1 	
      Obligations of the Guarantor

	 	 	 	 
		(A) 	
      In consideration of the Noteholders entering into this
      Agreement at the request of the Guarantor (as the Guarantor hereby
      acknowledges), the Guarantor shall, as primary obligations of
  him:

	 	 	 	 
			(1) 	
      procure that the Company shall duly observe and perform
      all its obligations under this Agreement;

	 	 	 	 
			(2) 	
      if and whenever the Company shall be in default in the
      payment when due of any amount payable under this Agreement or of any
      damages for breach of the same or of any of the Warranties and within two
      Business Days after being given notice to that effect by the Noteholders,
      or whenever the Guarantor becomes aware in advance that the Company will
      be unable to fulfill any part of its payment obligations, pay all such
      amounts then payable by the Company as though the Guarantor instead of the
      Company was expressed to be the principal debtor; and

	 	 	 	 
			(3) 	
      indemnify the Noteholders against the cost of collecting
      any amount payable by the Company or the Guarantor and referred to in
      clause 6.1(A)(2).

	 	 	 	 
		(B) 	
      Any amount not paid by the Company and not recoverable
      from the Guarantor on the basis of a guarantee or otherwise (whether
      because of any legal limitation, disability or incapacity on the part of
      the Company or any other matter or thing whether known to the Noteholders
      or not) shall nevertheless be recoverable from the Guarantor on the basis
      of an indemnity.

	 	 	 	 
		(C) 	
      The Guarantor acknowledges that his liability under this
      clause 6.1 shall not be discharged or affected in any way by time being
      given to the Company or by any other indulgence or concession being
      granted to the Company or by any other act, omission, dealing, matter or
      thing whatsoever (including any change in the memorandum or articles of
      association of the Company, any amendment to this Agreement or the
      liquidation, dissolution, reconstruction or amalgamation of the Company or
      the illegality or enforceability of this Agreement) which but for this
      provision might operate to release the Guarantor from his obligations
      under this clause 6.1.

	 	 	 	 
	6.2 	
      Continuing guarantee

	 	 	 	 
		
      The guarantee contained in this clause 6 is a continuing
      guarantee and shall remain in full force and effect until all obligations
      of the Company hereby guaranteed have been discharged in full. It is in
      addition to and shall not prejudice nor be prejudiced by any
  other

8 

		
      guarantee, indemnity or other security or right against
      any other person which the Noteholders may have for the due performance of
      the obligations concerned.

	 	 	 
	7. 	
      Confidentiality

	 	 	 
	7.1 	
      Confidentiality

	 	 	 
		
      Subject to clause 7.2 and to clause 8, each party to this
      Agreement:-

	 	 	 
		(A) 	
      shall treat as strictly confidential the provisions of
      this Agreement and the process of the parties’ negotiation and all
      information about the other parties obtained or received by it as a result
      of negotiating, entering into or performing its obligations under this
      Agreement (“Confidential Information”); and

	 	 	 
		(B) 	
      shall not, except with the prior written consent of the
      other parties (which shall not be unreasonably withheld or delayed), make
      use of (save for the purposes of performing its obligations under this
      Agreement) or disclose to any person any Confidential
  Information.

	 	 	 
	7.2 	
      Permitted disclosure or use

	 	 	 
		
      Clause 7.1 shall not apply if and to the extent that the
      party using or disclosing Confidential Information can demonstrate
      that:

	 	 	 
		(A) 	
      such disclosure is required by law or is required or
      requested by any supervisory, regulatory or governmental body having
      jurisdiction over it and whether or not the requirement or request has the
      force of law; or

	 	 	 
		(B) 	
      such disclosure is to its professional advisers in
      relation to the negotiation entry into or performance of this Agreement or
      any matter arising out of the same;

	 	 	 
		(C) 	
      in the case of disclosure or use, the Confidential
      Information concerned was lawfully in its possession (as evidenced by
      written records) prior to its being obtained or received as described in
      clause 7.1(A); or

	 	 	 
		(D) 	
      in the case of disclosure or use, the Confidential
      Information concerned has come into the public domain other than through
      its fault or the fault of any person to whom such Confidential Information
      has been disclosed in accordance with clause 7.1(B).

	 	 	 
	7.3 	
      Continuance of restrictions

	 	 	 
		
      The restrictions contained in this clause 7 shall survive
      Completion and shall continue without limit of time.

	 	 	 
	7.4 	
      Privilege

	 	 	 
		
      Where any confidential information is also privileged,
      the waiver of such privilege is limited to the purposes of this Agreement
      and does not, and is not intended to, result in any wider waiver of the
      privilege. Any party hereto in possession of any Confidential Information
      relating to any other party hereto (a “Privilege Holder”) shall
      take all reasonable steps to protect the privilege of the Privilege Holder
      therein and shall inform the privilege holder if any step is taken by any
      other person to obtain any of its privileged confidential
    information.

9 

	8. 	
      Announcements

	 	 	 
	8.1 	
      Restrictions

	 	 	 
		
      Subject to clauses 8.2, no party to this Agreement shall
      make any announcement, (including, without limitation any communication to
      the public, to any customers or suppliers of the Company, or to all or any
      of the employees of the Company) concerning the provisions or subject
      matter of this Agreement or containing any information about the other
      party without the prior written approval of the other parties (which shall
      not be unreasonably withheld or delayed).

	 	 	 
	8.2 	
      Permitted announcements

	 	 	 
		
      Clause 8.1 shall not apply if and to the extent that such
      announcement is required by law or by any supervisory, regulatory or
      governmental body having jurisdiction over it and whether or not the
      requirement has the force of law and provided that any such announcement
      shall be made only after consultation with the other parties.

	 	 	 
	8.3 	
      Continuance of restrictions

	 	 	 
		
      The restrictions contained in this clause 8 shall survive
      Completion and shall continue without limit of time.

	 	 	 
	9. 	
      Provisions relating to this
  Agreement

	 	 	 
	9.1 	
      Successors and assigns

	 	 	 
		
      This Agreement shall be binding upon and enure for the
      benefit of the successors of the parties but shall not be assignable. Any
      purported assignment shall be void.

	 	 	 
	9.2 	
      Whole agreement, superceding of the Conditions, and
      variations

	 	 	 
		(A) 	
      This Agreement, together with any documents referred to
      in it, constitutes the whole agreement between the parties relating to its
      subject matter and supersedes and extinguishes any prior drafts,
      agreements, and undertakings, whether in writing or oral, relating to such
      subject matter.

	 	 	 
		(B) 	
      This Agreement specifically supercedes any and all
      Conditions in relation to the redemption of the Convertible Notes. To the
      extent that any inconsistency between this Agreement and the Conditions
      exists, this Agreement shall prevail.

	 	 	 
		(C) 	
      No variation of this Agreement shall be effective unless
      made in writing and signed by each of the parties.

	 	 	 
	9.3 	
      Agreement survives Completion

	 	 	 
		
      The Warranties and all other provisions of this
      Agreement, in so far as the same shall not have been performed at
      Completion, shall remain in full force and effect notwithstanding
      Completion.

10 

	9.4 	
      Rights etc cumulative and other matters

	 	 	 	 
		(A) 	
      The rights, powers, privileges and remedies provided in
      this Agreement are cumulative and are not exclusive of any rights, powers,
      privileges or remedies provided by law or otherwise.

	 	 	 	 
		(B) 	
      No failure to exercise nor any delay in exercising any
      right, power, privilege or remedy under this Agreement shall in any way
      impair or affect the exercise thereof or operate as a waiver thereof in
      whole or in part.

	 	 	 	 
		(C) 	
      No single or partial exercise of any right, power,
      privilege or remedy under this Agreement shall prevent any further or
      other exercise thereof or the exercise of any other right, power,
      privilege or remedy.

	 	 	 	 
	9.5 	
      Invalidity

	 	 	 	 
		
      If any provision of this Agreement shall be held to be
      illegal, void, invalid or unenforceable under the laws of any
      jurisdiction, the legality, validity and enforceability of the remainder
      of this Agreement in that jurisdiction shall not be affected, and the
      legality, validity and enforceability of the whole of this Agreement in
      any other jurisdiction shall not be affected.

	 	 	 	 
	9.6 	
      Counterparts

	 	 	 	 
		
      This Agreement may be executed in any number of
      counterparts, which shall together constitute one Agreement. Any party may
      enter into this Agreement by signing any such counterpart.

	 	 	 	 
	9.7 	
      Costs

	 	 	 	 
		
      Save as otherwise expressly provided herein, each party
      shall bear its own costs arising out of or in connection with the
      preparation, negotiation and implementation of this Agreement, save that
      if this Agreement shall terminate due to the Company’s failure to make
      payment as required by clause 3.2, the Company shall pay to the
      Noteholders their accountancy, legal and other costs and expenses in
      relation to the preparation and negotiation of this Agreement.

	 	 	 	 
	9.8 	
      Notices

	 	 	 	 
		(A) 	
      Any notice or other communication required to be given
      under this Agreement or in connection with the matters contemplated by it
      shall, except where otherwise specifically provided, be in writing in the
      English language and shall be addressed as provided in clause 9.8(B) and
      may be:

	 	 	 	 
			(1) 	
      personally delivered, in which case it shall be deemed to
      have been given upon delivery at the relevant address; or

	 	 	 	 
			(2) 	
      if within Hong Kong, sent by pre-paid post, in which case
      it shall be deemed to have been given two Business Days after the date of
      posting; or

	 	 	 	 
			(3) 	
      if from or to any place outside Hong Kong, sent by
      pre-paid airmail or by air courier, in which case it shall be deemed to
      have been given seven Business Days after the date of posting in the case
      of airmail or two Business Days after delivery to the courier in the case
      of air courier; or

11 

	 	(4) 	
      sent by fax, in which case it shall be deemed to have
      been given when despatched, subject to confirmation of uninterrupted
      transmission by a transmission report provided that any notice despatched
      by fax after 17.00 hours (at the place where such fax is to be received)
      on any day shall be deemed to have been received at 08.00 on the next
      Business Day.

	 	(B) 	
      The addresses and other details of the parties referred
      to in clause 9.8(A) are, subject to clause
9.8(D):

	 	The Noteholders 	  
	 	 	 
	 	Name: 	Investec Bank (UK) Limited 
	 	 	 
	 	For the attention of: 	Richard Forlee 
	 	 	 
	 	Address: 	2 Gresham Street, London EC2V 7QP, 
	 	 	 
	 	 	United Kingdom. 
	 	 	 
	 	Fax number: 	+44 20 7595 4365 
	 	 	 
	 	Name: 	LP Asset Management Limited 
	 	 	 
	 	For the attention of: 	Patrick Wong 
	 	 	 
	 	Address: 	24A Horace Court, 3 Shan Kwong Road, 
	 	 	 
	 	  	Happy Valley, Hong Kong. 
	 	 	 
	 	Fax number: 	+86 755 8373 4696 
	 	 	 
	 	Name: 	Full Moon Resources Limted 
	 	 	 
	 	For the attention of: 	Francis Leung 
	 	 	 
	 	Address: 	33/F Alexandra House, 16-20 Chater Road, 
	 	 	 
	 	  	Central, Hong Kong. 
	 	 	 
	 	Fax number: 	+852 2523 2912 
	 	 	 
	 	The Company 	  
	 	 	 
	 	Name: 	Lightscape Technologies Inc. 
	 	 	 
	 	For the attention of: 	Chief Executive Officer 
	 	 	 
	 	Address: 	3/F 80 Gloucester Road, Wanchai, Hong Kong
  
	 	 	 
	 	Fax number: 	+852 2546 6878 
	 	 	 
	 	The Guarantor 	  
	 	 	 
	 	Name: 	Bondy Tan 

12 

	 	Address: 	2A, Tower 5, Pacificview, 38 Tai Tam Road,
  
	 	 	 
	 	 	Hong Kong. 
	 	 	 
	 	Fax number: 	+852 2546 6878 

	 	(C) 	
      In proving service of any notice it shall be sufficient
      to prove:

	 	 	 	 
	 		(1) 	
      in the case of a notice sent by post that such notice was
      properly addressed, stamped and placed in the post;

	 	 	 	 
	 		(2) 	
      in the case of a notice personally delivered that it was
      delivered to or left at the specified address;

	 	 	 	 
	 		(3) 	
      in the case of a notice sent by fax that it was duly
      despatched to the specified number as confirmed by a transmission report;
      and

	 	 	 	 
	 		(4) 	
      in the case of a notice sent by air courier that it was
      delivered to a representative of the courier.

	 	 	 	 
	 	(D) 	
      Any party to this Agreement may notify the other parties
      of any change to its address or other details specified in clause 9.8(B),
      provided that such notification shall only be effective on the date
      specified in such notice or five Business Days after the notice is given,
      whichever is later.

	 	 	 	 
	 	(E) 	
      For the avoidance of doubt, notices sent by electronic
      mail and other forms of electronic messages, shall not constitute valid
      notice under this clause 9.8.

	9.9 	
      Noteholders’ liability

	 	 
		
      The obligations and liability assumed by each of the
      Noteholders under this Agreement shall in each case be several (and
      neither joint nor joint and several), so that each of the Noteholders
      shall only be liable for its own actions or failures to act in accordance
      with them, and none of the Noteholders shall be liable for a failure to
      procure anything required under this Agreement where such failure is
      attributable to any action or failure to act by another
  Noteholder.

	 	 
	9.10 	
      Investec’s representation of the
  Noteholders

	 	 
		
      To the extent any clause in this Agreement contemplates
      an option or a choice for the Noteholders, or requires approval or consent
      from the Noteholders, the Noteholders hereby agree that Investec shall
      serve as the Noteholders’ representative in all such respects such that
      Investec may, on behalf of the Noteholders, notify the Company and/or the
      Guarantor as to the Noteholder’s decision on such issues, and such
      notification shall be binding on each of the Noteholders.

	 	 
	10. 	
      Law and Jurisdiction

	 	 
	10.1 	
      Hong Kong Law

	 	 
		
      This Agreement shall be governed by, and construed in
      accordance with the law of Hong Kong.

13 

	10.2 	
      Jurisdiction

	 	 
		
      In relation to any legal action or proceedings to enforce
      this Agreement or arising out of or in connection with this Agreement each
      of the parties irrevocably submits to the non- exclusive jurisdiction of
      the Hong Kong courts.

	 	 
	10.3 	
      Process agent

	 	 
		
      The Company irrevocably appoints Lightscape Technologies
      (Greater China) Ltd. of 3/F 80 Gloucester Road, Wanchai, Hong Kong as its
      process agent to receive on its behalf service of process in any
      proceedings in Hong Kong. Service upon the process agent shall be good
      service upon the Company whether or not it is forwarded to and received by
      the Company. If for any reason the process agent ceases to be able to act
      as process agent, or no longer has an address in Hong Kong, the Company
      irrevocably agrees to appoint a substitute process agent with an address
      in Hong Kong acceptable to the Noteholders and to deliver to the
      Noteholders a copy of the substitute process agent's acceptance of that
      appointment within 20 Business Days. In the event that the Company fails
      to appoints a substitute process agent, it shall be effective service for
      the Noteholders to serve the process upon the last known address in Hong
      Kong of the last known process agent for the Company notified to the
      Noteholders, notwithstanding that such process agent is no longer found at
      such address or has ceased to act.

14 

AS WITNESS the hands of the duly authorised
representatives of the parties on the date first before written. 

	SIGNED by Richard Forlee 	) 	/s/ Richard Forlee 
	duly authorised for and on 	) 	  
	behalf of Investec Bank (UK) Limited 	) 	  
	in the presence of 	) 	  
	  	  	  
	/s/ Henry Ong 	  	  
	Ong Henry Seng Lit 	  	  
	Simmons & Simmons 	  	  
	Solicitor, Hong Kong SAR 	  	  
	  	  	  
	SIGNED by Patrick Man Ning Wong 	) 	/s/ Patrick Man Ning Wong 
	duly authorised for and on 	) 	  
	behalf of LP Asset Management Limited 	) 	  
	in the presence of 	) 	  
	  	  	  
	/s/ Henry Ong 	  	  
	Ong Henry Seng Lit 	  	  
	Simmons & Simmons 	  	  
	Solicitor, Hong Kong SAR 	  	  
	  	  	  
	SIGNED by Patrick Man Ning Wong 	) 	/s/ Patrick Man Ning Wong 
	as attorney for and on 	) 	  
	behalf of Full Moon Resources Limited 	) 	  
	in the presence of 	) 	  
	  	  	  
	/s/ Henry Ong 	  	  
	Ong Henry Seng Lit 	  	  
	Simmons & Simmons 	  	  
	Solicitor, Hong Kong SAR 	  	  
	  	  	  
	SIGNED by Bondy Tan 	) 	/s/ Bondy Tan 
	duly authorised for and on 	) 	  
	behalf of Lightscape Technologies Inc. 	) 	  
	in the presence of 	) 	  
	  	  	  
	/s/ Henry Ong 	  	  
	Ong Henry Seng Lit 	  	  
	Simmons & Simmons 	  	  
	Solicitor, Hong Kong SAR 	  	  
	  	  	  
	SIGNED AND SEALED by Bondy Tan 	) 	/s/ Bondy Tan 
	in the presence of 	) 	  
	  	  	  
	/s/ Henry Ong 	  	  
	Ong Henry Seng Lit 	  	  
	Simmons & Simmons 	  	  
	Solicitor, Hong Kong SAR 	  	  

15Filed by Automated Filing Services Inc. (604) 609-0244 - Lightscape Technologies Inc. - Exhibit10.2

THIS SUBSCRIPTION AGREEMENT RELATES TO AN OFFERING OF
SECURITIES IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS
DEFINED HEREIN) PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED (THE "1933 ACT"). 

NONE OF THE SECURITIES TO WHICH THIS SUBSCRIPTION AGREEMENT
(THE "SUBSCRIPTION AGREEMENT") RELATES HAVE BEEN REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933 (THE "1933 ACT"), OR ANY U.S. STATE SECURITIES
LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD, DIRECTLY OR
INDIRECTLY, IN THE UNITED STATES OR TO U.S. PERSONS (AS DEFINED HEREIN) EXCEPT
IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT
TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN
AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE
STATE SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE
SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT. 

SUBSCRIPTION AGREEMENT 
(Offshore Subscribers) 

	TO: 	Lightscape Technologies Inc. (the
      “Company”) 
	  	3/F., 80 Gloucester Road 
	  	Wanchai, Hong Kong

Purchase of Shares 

1.                    
 Subscription 

1.1                  
   1.1 The undersigned (the "Subscriber") hereby irrevocably subscribes
  for and agrees to purchase from the Company, on the basis of the representations
  and warranties and subject to the terms and conditions set forth herein, ____________
  shares of the Company's common stock (the "Shares") at the price of
  US$ ______ per Share (the "Subscription Price") for the aggregate
  total purchase price of US$ ____________ (the "Subscription Proceeds").
  The Company may close the private placement in tranches.

1.2                    Subject
to the terms hereof, the Subscription will be effective upon its acceptance by
the Company.

2.                    
 Payment 

2.1                   
The Subscription Proceeds must accompany this Subscription and shall be paid by
certified check or bank draft, and made payable and delivered to the Company or
its lawyers. Alternatively, the Subscription Proceeds may be wired to the
Company or its lawyers pursuant to wiring instructions that will be provided to
the Subscriber upon request. If the funds are wired to the Company's lawyers,
those lawyers are authorized to immediately deliver the funds to the Company.

2.2                    The
Subscriber acknowledges and agrees that this Subscription Agreement, the
Subscription Proceeds and any other documents delivered in connection herewith
will be held on behalf of the Company. In the event that this Subscription
Agreement is not accepted by the Company for whatever reason, which the Company
expressly reserves the right to do, within 30 days of the delivery of an
executed Subscription Agreement by the Subscriber, this Subscription Agreement,
the Subscription Proceeds (without interest thereon) and any other 

- 2 - 

documents delivered in connection herewith will be returned to
the Subscriber at the address of the Subscriber as set forth in this
Subscription Agreement. 

2.3                    Where
the Subscription Proceeds are paid to the Company, the Company is entitled to
treat such Subscription Proceeds as an interest free loan to the Company until
such time as the Subscription is accepted and the certificates representing the
Shares have been issued to the Subscriber. 

3.                    
 Documents Required from Subscriber 

3.1                    The
Subscriber must complete, sign and return to the Company an executed copy of
this Subscription Agreement. 

3.2                    The
Subscriber shall complete, sign and return to the Company as soon as possible,
on request by the Company, any documents, questionnaires, notices and
undertakings as may be required by regulatory authorities and applicable law.

4.                    
 Closing 

4.1                   
Closing of the offering of the Shares (the "Closing") shall occur on or before
21 August, 2007, or on such other date as may be determined by the Company (the
"Closing Date"). 

5.                     
Acknowledgements of Subscriber 

5.1                    The
Subscriber acknowledges and agrees that: 

	 	(a) 	
      none of the Shares have been or will be registered under
      the 1933 Act, or under any state securities or "blue sky" laws of any
      state of the United States, and, unless so registered, may not be offered
      or sold in the United States or, directly or indirectly, to U.S. Persons,
      as that term is defined in Regulation S under the 1933 Act ("Regulation
      S"), except in accordance with the provisions of Regulation S, pursuant to
      an effective registration statement under the 1933 Act, or pursuant to an
      exemption from, or in a transaction not subject to, the registration
      requirements of the 1933 Act and in each case only in accordance with
      applicable state securities laws;

	 	 	 
	 	(b) 	
      other than as set out herein, the Company has not
      undertaken, and will have no obligation, to register any of the Shares
      under the 1933 Act or any other securities legislation;

	 	 	 
	 	(c) 	
      it has received and carefully read this Subscription
      Agreement;

	 	 	 
	 	(d) 	
      it and its advisor(s) have had a reasonable opportunity
      to ask questions of and receive answers from the Company in connection
      with the sale of the Shares hereunder, and to obtain additional
      information, to the extent possessed or obtainable by the Company without
      unreasonable effort or expense;

	 	 	 
	 	(e) 	
      the books and records of the Company were available upon
      reasonable notice for inspection, subject to certain confidentiality
      restrictions, by the Subscriber during reasonable business hours at its
      principal place of business and that all documents, records and books in
      connection with the sale of the Shares hereunder have been made available
      for inspection by him and his attorney and/or advisor(s);

	 	 	 
	 	(f) 	
      all information which the Subscriber has provided to the
      Company is correct and complete as of the date the Subscription Agreement
      is signed, and if there should be any change in such information prior to
      this Subscription Agreement being executed by the Company, the Subscriber
      will immediately provide the Company with such
  information;

- 3 - 

	 	(g) 	
      the Company is entitled to rely on the representations
      and warranties of the Subscriber contained in this Subscription Agreement
      and the Subscriber will hold harmless the Company from any loss or damage
      it or they may suffer as a result of the Subscriber's failure to correctly
      complete this Subscription Agreement;

	 	 	 	 
	 	(h) 	
      the Subscriber will indemnify and hold harmless the
      Company and, where applicable, its respective directors, officers,
      employees, agents, advisors and shareholders from and against any and all
      loss, liability, claim, damage and expense whatsoever (including, but not
      limited to, any and all fees, costs and expenses whatsoever reasonably
      incurred in investigating, preparing or defending against any claim,
      lawsuit, administrative proceeding or investigation whether commenced or
      threatened) arising out of or based upon any representation or warranty of
      the Subscriber contained herein or in any document furnished by the
      Subscriber to the Company in connection herewith being untrue in any
      material respect or any breach or failure by the Subscriber to comply with
      any covenant or agreement made by the Subscriber to the Company in
      connection therewith;

	 	 	 	 
	 	(i) 	
      the Subscriber has been advised to consult the
      Subscriber's own legal, tax and other advisors with respect to the merits
      and risks of an investment in the Shares and with respect to applicable
      resale restrictions, and it is solely responsible (and the Company is not
      in any way responsible) for compliance with:

	 	 	 	 
	 		(i) 	
      any applicable laws of the jurisdiction in which the
      Subscriber is resident in connection with the distribution of the Shares
      hereunder, and

	 	 	 	 
	 		(ii) 	
      applicable resale restrictions;

	 	 	 	 
	 	(j) 	
      none of the Shares are listed on any stock exchange or
      automated dealer quotation system and no representation has been made to
      the Subscriber that any of the Shares will become listed on any stock
      exchange or automated dealer quotation system, except that currently
      certain market makers make market in the common shares of the Company on
      the Pink Sheets® over-the-counter securities market;

	 	 	 	 
	 	(k) 	
      the Subscriber is outside the United States when
      receiving and executing this Subscription Agreement and is acquiring the
      Shares as principal for its own account, for investment purposes only, and
      not with a view to, or for, resale, distribution or fractionalization
      thereof, in whole or in part, and no other person has a direct or indirect
      beneficial interest in such Shares;

	 	 	 	 
	 	(l) 	
      none of the Shares may be offered or sold to a U.S.
      Person or for the account or benefit of a U.S. Person (other than a
      distributor) prior to the end of the Distribution Compliance Period (as
      defined herein);

	 	 	 	 
	 	(m) 	
      the Company will refuse to register any transfer of the
      Shares not made in accordance with the provisions of Regulation S,
      pursuant to an effective registration statement under the 1933 Act or
      pursuant to an available exemption from the registration requirements of
      the 1933 Act and in each case in accordance with applicable state
      securities laws;

	 	 	 	 
	 	(n) 	
      neither the SEC nor any other securities commission or
      similar regulatory authority has reviewed or passed on the merits of the
      Shares;

	 	 	 	 
	 	(o) 	
      no documents in connection with the sale of the Shares
      hereunder have been reviewed by the SEC or any state securities
      administrators;

	 	 	 	 
	 	(p) 	
      there is no government or other insurance covering any of
      the Shares;

- 4 - 

	 	(q) 	
      the issuance and sale of the Shares to the Subscriber
      will not be completed if it would be unlawful or if, in the discretion of
      the Company acting reasonably, it is not in the best interests of the
      Company;

	 	 	 	 
	 	(r) 	
      the Subscriber is purchasing the Shares pursuant to an
      exemption from the registration and the prospectus requirements of
      applicable securities legislation on the basis that the Subscriber is an
      accredited investor of the Company and, as a consequence:

	 	 	 	 
	 		(i) 	
      is restricted from using most of the civil remedies
      available under securities legislation,

	 	 	 	 
	 		(ii) 	
      may not receive information that would otherwise be
      required to be provided under securities legislation, and

	 	 	 	 
	 		(iii) 	
      the Company is relieved from certain obligations that
      would otherwise apply under securities legislation;

	 	 	 	 
	 	(s) 	
      the statutory and regulatory basis for the exemption
      claimed for the offer and sale of the Shares, although in technical
      compliance with Regulation S, would not be available if the offering is
      part of a plan or scheme to evade the registration provisions of the 1933
      Act; and

	 	 	 	 
	 	(t) 	
      this Subscription Agreement is not enforceable by the
      Subscriber unless it has been accepted by the
Company.

6.                     
Representations, Warranties and Covenants of the Subscriber

6.1                    The
Subscriber hereby represents and warrants to and covenants with the Company
(which representations, warranties and covenants shall survive the Closing)
that: 

	 	(a) 	
      the Subscriber is not a U.S. Person;

	 	 	 
	 	(b) 	
      the Subscriber is not acquiring the Shares for the
      account or benefit of, directly or indirectly, any U.S. Person;

	 	 	 
	 	(c) 	
      the Subscriber is resident in the jurisdiction set out
      under the heading "Name and Address of Subscriber" on the signature page
      of this Subscription Agreement and the sale of the Shares to the
      Subscriber as contemplated in this Subscription Agreement complies with or
      is exempt from the applicable securities legislation of the jurisdiction
      of residence of the Subscriber;

	 	 	 
	 	(d) 	
      the Subscriber has the legal capacity and competence to
      enter into and execute this Subscription Agreement and to take all actions
      required pursuant hereto and, if the Subscriber is a corporation, it is
      duly incorporated and validly subsisting under the laws of its
      jurisdiction of incorporation and all necessary approvals by its
      directors, shareholders and others have been obtained to authorize
      execution and performance of this Subscription Agreement on behalf of the
      Subscriber;

	 	 	 
	 	(e) 	
      if the Subscriber is a corporation or other entity, the
      entering into of this Subscription Agreement and the transactions
      contemplated hereby do not result in the violation of any of the terms and
      provisions of any law applicable to, or the constating documents of, the
      Subscriber or of any agreement, written or oral, to which the Subscriber
      may be a party or by which the Subscriber is or may be bound;

	 	 	 
	 	(f) 	
      the Subscriber has duly executed and delivered this
      Subscription Agreement and it constitutes a valid and binding agreement of
      the Subscriber enforceable against the Subscriber;

	 	 	 
	 	(g) 	
      the Subscriber is acquiring the Shares as principal for
      its own account for investment purposes only and not for the account of
      any other person and not for distribution, assignment or resale
  to

- 5 - 

	 		
      others, and no other person has a direct or indirect
      beneficial interest in such Shares, and it has not subdivided its interest
      in the Shares with any other person;

	 	 	 
	 	(h) 	
      the Subscriber is outside the United States when
      receiving and executing this Subscription Agreement and is acquiring the
      Shares as principal for the Subscriber's own account for investment
      purposes only, and not with a view to, or for, resale, distribution or
      fractionalisation thereof, in whole or in part, and no other person has a
      direct or indirect beneficial interest in the Shares;

	 	 	 
	 	(i) 	
      the Subscriber is aware that an investment in the Company
      is speculative and involves certain risks, including the possible loss of
      the entire investment;

	 	 	 
	 	(j) 	
      the Subscriber has made an independent examination and
      investigation of an investment in the Shares and the Company and has
      depended on the advice of its legal and financial advisors and agrees that
      the Company will not be responsible in any way whatsoever for the
      Subscriber's decision to invest in the Shares and the Company;

	 	 	 
	 	(k) 	
      the Subscriber (i) has adequate net worth and means of
      providing for its current financial needs and possible personal
      contingencies, (ii) has no need for liquidity in this investment, and
      (iii) is able to bear the economic risks of an investment in the Shares
      for an indefinite period of time;

	 	 	 
	 	(l) 	
      the Subscriber understands and agrees that the Company
      and others will rely upon the truth and accuracy of the acknowledgements,
      representations and agreements contained in this Subscription Agreement
      and agrees that if any of such acknowledgements, representations and
      agreements are no longer accurate or have been breached, the Subscriber
      shall promptly notify the Company;

	 	 	 
	 	(m) 	
      the Subscriber has the legal capacity and competence to
      enter into and execute this Subscription Agreement and to take all actions
      required pursuant hereto;

	 	 	 
	 	(n) 	
      the Subscriber has duly executed and delivered this
      Subscription Agreement and it constitutes a valid and binding agreement of
      the Subscriber enforceable against the Subscriber in accordance with its
      terms;

	 	 	 
	 	(o) 	
      the Subscriber is not an underwriter of, or dealer in,
      the common shares of the Company, nor is the Subscriber participating,
      pursuant to a contractual agreement or otherwise, in the distribution of
      the Shares;

	 	 	 
	 	(p) 	
      the Subscriber understands and agrees that none of the
      Shares have been or will be registered under the 1933 Act, or under any
      state securities or "blue sky" laws of any state of the United States,
      and, unless so registered, may not be offered or sold in the United States
      or, directly or indirectly, to U.S. Persons, as that term is defined in
      Regulation S under the 1933 Act ("Regulation S"), except in accordance
      with the provisions of Regulation S, pursuant to an effective registration
      statement under the 1933 Act, or pursuant to an exemption from, or in a
      transaction not subject to, the registration requirements of the 1933 Act
      and in each case only in accordance with applicable state securities
      laws;

	 	 	 
	 	(q) 	
      the Subscriber understands and agrees that offers and
      sales of any of the Shares prior to the expiration of a period of one year
      after the date of original issuance of the Shares (the one year period
      hereinafter referred to as the "Distribution Compliance Period") shall
      only be made in compliance with the safe harbor provisions set forth in
      Regulation S, pursuant to the registration provisions of the 1933 Act or
      an exemption therefrom, and that all offers and sales after the
      Distribution Compliance Period shall be made only in compliance with the
      registration provisions of the 1933 Act or an exemption therefrom and in
      each case only in accordance with applicable state securities
  laws;

- 6 - 

	 	(r) 	
      the Subscriber acknowledges that it has not acquired the
      Shares as a result of, and will not itself engage in, any "directed
      selling efforts" (as defined in Regulation S under the 1933 Act) in the
      United States in respect of any of the Shares which would include any
      activities undertaken for the purpose of, or that could reasonably be
      expected to have the effect of, conditioning the market in the United
      States for the resale of any of the Shares; provided, however, that the
      Subscriber may sell or otherwise dispose of any of the Shares pursuant to
      registration of any of the Shares pursuant to the 1933 Act and any
      applicable state securities laws or under an exemption from such
      registration requirements and as otherwise provided herein;

	 	 	 	 
	 	(s) 	
      the Subscriber understands and agrees not to engage in
      any hedging transactions involving any of the Shares unless such
      transactions are in compliance with the provisions of the 1933 Act and in
      each case only in accordance with applicable state securities
  laws;

	 	 	 	 
	 	(t) 	
      the Subscriber understands and agrees that the Company
      will refuse to register any transfer of the Shares not made in accordance
      with the provisions of Regulation S, pursuant to an effective registration
      statement under the 1933 Act or pursuant to an available exemption from
      the registration requirements of the 1933 Act;

	 	 	 	 
	 	(u) 	
      the Subscriber (i) is able to fend for itself in the
      Subscription; (ii) has such knowledge and experience in financial and
      business matters as to be capable of evaluating the merits and risks of
      its investment in the Shares and the Company; and (iii) has the ability to
      bear the economic risks of its prospective investment and can afford the
      complete loss of such investment;

	 	 	 	 
	 	(v) 	
      the Subscriber is not aware of any advertisement of any
      of the Shares and is not acquiring the Shares as a result of any form of
      general solicitation or general advertising including advertisements,
      articles, notices or other communications published in any newspaper,
      magazine or similar media or broadcast over radio or television, or any
      seminar or meeting whose attendees have been invited by general
      solicitation or general advertising; and

	 	 	 	 
	 	(w) 	
      no person has made to the Subscriber any written or oral
      representations:

	 	 	 	 
	 		(i) 	
      that any person will resell or repurchase any of the
      Shares,

	 	 	 	 
	 		(ii) 	
      that any person will refund the purchase price of any of
      the Shares,

	 	 	 	 
	 		(iii) 	
      as to the future price or value of any of the Shares,
      or

	 	 	 	 
	 		(iv) 	
      that any of the Shares will be listed and posted for
      trading on any stock exchange or automated dealer quotation system or that
      application has been made to list and post any of the Shares of the
      Company on any stock exchange or automated dealer quotation
  system.

6.2                    In
this Subscription Agreement, the term "U.S. Person" shall have the meaning
ascribed thereto in Regulation S. 

7.                     
Representations and Warranties will be Relied Upon by the Company

7.1                    The
Subscriber acknowledges that the representations and warranties contained herein
are made by it with the intention that such representations and warranties may
be relied upon by the Company and its legal counsel in determining the
Subscriber's eligibility to purchase the Shares under applicable securities
legislation, or (if applicable) the eligibility of others on whose behalf it is
contracting hereunder to purchase the Shares under applicable securities
legislation. The Subscriber further agrees that by accepting delivery of the
certificates representing the Shares on the Closing Date, it will be
representing and warranting that the representations and warranties contained
herein are true and correct as at the Closing Date with the same force and
effect as if they had been made by the Subscriber on the Closing Date and that
they will survive the purchase by the Subscriber of the 

- 7 - 

Shares and will continue in full force and effect
notwithstanding any subsequent disposition by the Subscriber of such Shares.

8.                     
Resale Restrictions 

8.1                    The
Subscriber acknowledges that any resale of the Shares will be subject to resale
restrictions contained in the securities legislation applicable to each
Subscriber or proposed transferee. The Subscriber acknowledges that the Shares
have not been registered under the 1933 Act of the securities laws of any state
of the United States. The Shares may not be offered or sold in the United States
unless registered in accordance with United States federal securities laws and
all applicable state securities laws or exemptions from such registration
requirements are available. 

8.2                   
The Subscriber acknowledges that restrictions on the transfer, sale or other
subsequent disposition of the Securities by the Subscriber may be imposed by
securities laws in addition to any restrictions referred to in Section 8.1
above, and, in particular, the Subscriber acknowledges and agrees that none of
the Securities may be offered or sold to a U.S. Person or for the account or
benefit of a U.S. Person (other than a distributor) prior to the end of the
Distribution Compliance Period. 

9.                    
 Acknowledgement and Waiver 

9.1                    The
Subscriber has acknowledged that the decision to purchase the Shares was solely
made on the basis of available information provided to the Subscriber. The
Subscriber hereby waives, to the fullest extent permitted by law, any rights of
withdrawal, rescission or compensation for damages to which the Subscriber might
be entitled in connection with the distribution of the Shares. 

10.                   
Legending of Subject Shares 

10.1                   The
Subscriber hereby acknowledges that that upon the issuance thereof, and until
such time as the same is no longer required under the applicable securities laws
and regulations, the certificates representing any of the Shares will bear a
legend in substantially the following form: 

"THESE SECURITIES WERE ISSUED IN AN
OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED HEREIN)
PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE "1933 ACT"). ACCORDINGLY, NONE OF THE SECURITIES TO WHICH THIS
CERTIFICATE RELATES HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE
SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD IN THE
UNITED STATES OR, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS (AS DEFINED HEREIN)
EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR PURSUANT TO AN
EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE
STATE SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE
SECURITIES MAY NOT BE CONDUCTED UNLESS IN ACCORDANCE WITH THE 1933 ACT." 

10.2                  
The Subscriber hereby acknowledges and agrees to the Company making a notation
on its records or giving instructions to the registrar and transfer agent of the
Company in order to implement the restrictions on transfer set forth and
described in this Subscription Agreement. 

11.                    Costs

11.1                   The
Subscriber acknowledges and agrees that all costs and expenses incurred by the
Subscriber (including any fees and disbursements of any special counsel retained
by the Subscriber) relating to the purchase of the Shares shall be borne by the
Subscriber. 

- 8 - 

12.                    Governing
Law 

12.1                  
This Subscription Agreement is governed by the laws of the State of Nevada and
the federal laws of the United States applicable herein. 

13.                    Survival

13.1                   This
Subscription Agreement, including without limitation the representations,
warranties and covenants contained herein, shall survive and continue in full
force and effect and be binding upon the parties hereto notwithstanding the
completion of the purchase of the Shares by the Subscriber pursuant hereto. 

14.                   
Assignment 

14.1                   This
Subscription Agreement is not transferable or assignable. 

15.                   
Severability 

15.1                  
The invalidity or unenforceability of any particular provision of this
Subscription Agreement shall not affect or limit the validity or enforceability
of the remaining provisions of this Subscription Agreement. 

16.                    Entire
Agreement 

16.1                  
Except as expressly provided in this Subscription Agreement and in the
agreements, instruments and other documents contemplated or provided for herein,
this Subscription Agreement contains the entire agreement between the parties
with respect to the sale of the Shares and there are no other terms, conditions,
representations or warranties, whether expressed, implied, oral or written, by
statute or common law, by the Company or by anyone else. 

17.                    Notices

17.1                   All
notices and other communications hereunder shall be in writing and shall be
deemed to have been duly given if mailed or transmitted by any standard form of
telecommunication. Notices to the Subscriber shall be directed to the address on
the signature page of this Subscription Agreement and notices to the Company
shall be directed to it at Global Innovative Systems Inc. 3/F., 80 Gloucester
Road, Wanchai, Hong Kong, Attention: Bondy Tan, Fax No.: (852) 2546 6878. 

18.                    Counterparts
and Electronic Means 

18.1                   This
Subscription Agreement may be executed in any number of counterparts, each of
which, when so executed and delivered, shall constitute an original and all of
which together shall constitute one instrument. Delivery of an executed copy of
this Subscription Agreement by electronic facsimile transmission or other means
of electronic communication capable of producing a printed copy will be deemed
to be execution and delivery of this Subscription Agreement as of the date
hereinafter set forth. 

19.                    Delivery
Instructions 

19.1                  
The Subscriber hereby directs the Company to deliver the Share and Certificates
to: 

	 	 
	 	(name) 
	 	 
	 	 
	 	(address)

- 9 - 

19.2                   The
Subscriber hereby directs the Company to cause the Shares to be registered on
the books of the Company as follows: 

	 	 
	 	(name) 
	 	 
	 	 
	 	(address) 

19.3                  
The undersigned hereby acknowledges that it will deliver to the Company all such
additional completed forms in respect of the Subscriber’s purchase of the
Securities as may be required for filing with the appropriate securities
commissions and regulatory authorities. 

IN WITNESS WHEREOF the Subscriber has duly executed this
Subscription Agreement as of the date of acceptance by the Company. 

	 	 
	 	(Name of Subscriber – Please type or print)
  
	 	 
	 	 
	 	 
	 	(Signature and, if applicable, Office) 
	 	 
	 	 
	 	 
	 	(Address of Subscriber) 
	 	 
	 	 
	 	 
	 	(City, State or Province, Postal Code of
      Subscriber) 
	 	 
	 	 
	 	 
	 	(Country of Subscriber)

- 10 - 

 

 

A C C E P T A N C E 

The above-mentioned Subscription Agreement in respect of the
Shares is hereby accepted by LIGHTSCAPE TECHNOLOGIES INC. 

DATED at 3/F., 80 Gloucester Road, Wanchai, Hong Kong, the
21st day of August, 2007. 

LIGHTSCAPE TECHNOLOGIES INC. 

 

	Per: 	 	 
	 	Authorized Signatory 	 
	 	Bondy Tan, President and CEO

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