Document:

Exhibit 10.1

EXHIBIT 10.1

November 23, 2007

To: The Board of Directors

       Prospero Minerals Corp.

        

The following items shall act as the general understanding for Cavitation Concepts Corporation Limited (“Investor”) to assist Prospero Minerals Corporation, (the “Company”) with obtaining capital and completing any merger, acquisitions or other precious metals and minerals entities.

1)

Basic Understanding and Initial Investment

A)

Prospero (OTCBB:PSPOE) was a public trading company on the OTC bulletin board and had a closing price as of November 23, 2007 of approximately $1.95 per share. Prospero has  120,952,244 Common Shares outstanding and is authorized to issue up to Two Hundred and Ninety Million (290,000,000) Common Shares and Ten Million (10,000,000) Preferred Shares of which there are none issued prior to the acquisition of RCA Corporation, as at March 31st, 2006. This acquisition has been completed as of April 1st, 2006. There was a name change from Corumel Mining Corporation to Prospero Minerals Corporation and an increase in the authorized capital to Three Hundred Million (300,000,000) shares of which 290,000,00 are Common Shares and 10,000,000 are Preferred Shares.  

B)

Cavitation Concepts Corporation Limited and its subsidiaries have at present 10,000,000 share capital at $0.10 per share. Cavitation Concepts Corporation Limited presently owns 30,000,000 shares of Prospero Minerals Corp. Prospero Minerals Corp. shall acquire, pursuant to a definitive Acquisition Agreement containing the customary representations and warrants; 4,000,000 Common Shares or 40% of Cavitation Concepts Corporation for consideration of 40,000,000 additional shares of Prospero Minerals Corp.

C)

Upon completion of the Acquisition of shares by Cavitation Concepts Corporation Limited and Prospero Minerals Corp, two members of the company will become Directors of the Company.

2)

Funding, Public Relations & Consulting  

1)

Identify potential Merger and/or Acquisition candidates for the Company.

2)

Facilitate the transition and sale of the potential Merger and/or Acquisition candidates of the Company.

3)

Develop financial strategies in conjunction with potential Merger and/or Acquisition candidates for the Company.

4)

Find on a best-efforts basis such additional assets and capitalization for the Company that will permit the Company to satisfy the NASDAQ Small Cap Market / AMEX initial listing requirements. Such efforts will include, but are not limited to arranging meetings, presenting term sheets and structuring any other acquisition(s).

5)

Develop and market the Company’s profile to the investing public, broker-dealers and market makers.

6)

Attend meetings of the Company’s Board of Directors or Executive Committee(s) when so requested by the Company.

7)

Attend meetings and at the request of the Company review, analyze and report on proposed business opportunities.

8)

Consult with the Company concerning strategic corporate planning and investment policies including any revision of the Company’s business plan when requested by the Company; and

9)

Advise the Company relative to the continued development of a shareholder relations program and to stimulate interest in the Company by members of the financial community.

3)

Additional Covenants

A)

Cavitation Concepts Corporation Limited will have control of a finance committee that will be required to approve all expenses over One Hundred Thousand Dollars ($100,000)

B)

Investors will have a non-dilution clause for a period of 12 months.

C)

Upon completion of the acquisition of the Forty Million shares (40,000,000) there will be a total of approximately 160,952,244 shares outstanding. 

4)

Miscellaneous

A)

Cavitation Concepts Corporation Limited will use any confidential information obtained from the Company solely for the purpose of the transactions contemplated herein and unless and until the parties consummate the transactions. Cavitation Concepts Corporation Limited will keep the confidential information strictly confidential. Cavitation Concepts Corporation Limited will disclose the confidential information only to those who need to know such information for the purpose of consummating the transactions herein. Cavitation Concepts Corporation Limited agrees to be responsible for any breach of this paragraph by any of its affiliates.  In the event the transactions contemplated by this letter are not consummated, Cavitation Concepts Corporation Limited will return to the Company any materials containing confidential information, or will certify in writing that all such materials or copies of such materials have been destroyed.  The provisions of this paragraph may be referred to as the “Confidentiality Provisions” and they shall survive the termination of this letter agreement.

B)

Any controversy or claim arising out of or related to this Agreement shall be settled by arbitration in accordance with the rules and under the rules of the American Arbitration Association; and any arbitration shall be conducted in the city of Fort Lauderdale in the state of Florida.  

The arbitrator(s) shall make written findings of fact and conclusion of law.  The prevailing party (as determined by the arbitrator(s)) shall be entitled to all legal fees and associated costs.

This outline shall act as our general agreement and will be subject to the execution of Definitive Agreements that are satisfactory to Cavitation Concepts Corporation Limited and Prospero Minerals Corp.  Please acknowledge your agreement with the above by executing below.

          Sincerely___________________________

                           David Reeve -   Secretary

              Cavitation Concepts Corporation Limited

    20 Madeira Street, P.O. Box N-1315, Nassau, The Bahamas

      

Agreed and Accepted this 23rd  day of November 23, 2007.

Prospero Minerals Corp.

__________________________________

By: Hubert L. Pinder

Chief Financial Officerf8k0729_x101-riic.htm

     

    
      	
               [Logo]
                BANK
                OF SCOTLAND

            	 	 AMSTERDAM
              BRANCH
	
               C
                O R P O R A T E

            	 	  Queens
              Towers
	 	 	
               Delflandlaan
                1

               1082
                EA Amsterdam

               Telefoon:
                +31 20 3057 836

               ABN
                AMRO Bank nr. 55.36.38.67.858

               KvK:
                34122516

               BTW:
                NL8088.33.546

            

    

     

    Private
      & Confidential

    Royal
      Invest Europe B.V.

    Mr.
      D.
      Havenaar

    Dittlaar
      7

    1070
      AC  Amsterdam

    The
      Netherlands

     

    23 November, 2007

     

    Royal Invest Europe B.V. €100,000,000.00 Senior
      Facility

     

    Dear Mr Havenaar,

     

    We are pleased to confirm that our Executive has given approval to provide
      €100.000.000, - debt facility to Royal Invest Europe B.V. for
      the
      purpose of the acquisition of a mixed property investment portfolio. 
Supporting this approval please find attached the Term Sheet outlining the
      final
      conditions that should be satisfied before drawdown of the funds.

     

    Please confirm your acceptance by returning the signed
      Term
      Sheet.

     

    Kinds Regards,

     

    /s/Jim Donnelly, Associate Director

    Bank of Scotland

    Amsterdam Branch

     

     

     

    
      	 www.bankscotland.co.uk/corporate 	 	Part
              of HBOS Group
	 	 	Bank
              of Scotland, plc
               Registered in Scotland number:
                SC327000

              Registered Office: The Mound, Edingburgh EH1
                1YZ

              Authorized and regulated by the

              Financial Service
                Authority.         

            

    

    .f8k0729_x102-riic.htm

    
       

      BANK
        OF SCOTLAND

      CORPORATE
        BANKING

      

      [Missing
        Graphic Reference] 

      

       

      
        Term
          Sheet

      

       

      
        This
          termsheet confirms the availability of facilities subject to and
          conditional upon the execution by the parties of loan documentration reflecting
          the terms and conditions outlined herein and otherwise acceptable to Bank
          of Scotland, (and Bank of Scotland reserves the right to incorporate such
          other
          terms and conditions into the loan documentation as it may consider
          appropriate) of which Bank of Scotland shall have no obligation to extend
          the facilities indicated.

        

        These
          terms are provided solely for the benefit of Royal Invest Europe
          B.V.  Bank of Scotland will not accept responsibility to
          another party to whom these terms may be shown or who may acquire a copy
          of
          these terms.

      

      

       

      Royal
        Invest Europe B.V.

       

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

      

       

      
        	
                1.  Borrower

                 

              	
                Royal
                  Invest Europe B.V.  ('RIE') plus any subsequent company in which
                  RIE invests / acquires, subject to the new company fully acceding
                  to the
                  terms of the Facility Agreement.

              
	
                2.  Investment
                  purpose

                 

                 

              	
                Funding
                  to assist with the acquisition of a mixed property investment
                  portfolio.

                 

                Bank
                  of Scotland will have a right of veto over all properties to be
                  included
                  within the portfolio

              
	
                3.  Properties

                 

              	
                To
                  be identified, however, including the targeted portfolio with properties
                  in :

                
                         
                    q  Woerden;
                    Edisonweg 9 A-E

                       
                      q  Vianen;
                    Mijlweg 7

                         
                    q  Utrecht;
                    Keulsekade 215 & 216

                         
                    q  Lelystag;
                    De
                    Schans 1802

                         
                    q  Alkmaar;
                    De
                    Berenkoog 53

                         
                    q  Hilversum; Franciscusweg
                    10

                         
                    q  Badhoevendorp;
                    Sloterweg 22

                         
                    q  Assen;
                    Schepersmaat 4

                         
                    q  Hoofddorp;
                    Kruisweg

                         
                    q  Hengelo;
                    Willemstraat 47-49

                         
                    q  Beverwijk;
                    Parallelweg 29

                         
                    q  Alkmaar,
                    Schinkelwaard 20

                     
                        q  Amsterdam;
                    Zuidermolenweg 7

                         
                    q  Wormerveer;
                    Productieweg 119

                         
                    q  Roermond;
                    Productieweg 1

                         
                    q  Vianen;
                    Stuartweg 2

                         
                    q  Amsterdam;
                    Nieuw-Zeelandweg 10

                         
                    q  Amersfoort;
                    Nijverheidsweg Noord 72

                         
                    q  Emmen;
                    Dalipassage 24, 30 end 34

                         
                    q  Leeuwarden;
                    Emmakade 59

                

              
	
                4.  Financing
                  structure

                 

              	
                The
                  borrower can choose between a facility governed by the lower of
                  85%
                  LTV/LTC or 82.5% LTV/ LTC.

                 

              
	
                5.  Facility
                  amount

              	
                €
                  100,000,000

                 

                First
                  drawdown anticipated to be € 50,400,000

              
	
                6.  Maturity

                 

                 

              	
                6
                  years from initial drawdown

              
	
                7.  Mode
                  of payment

              	
                Interest
                  periods of 1, 3 or 6 months

              
	
                8.  Hedging

                 

              	
                A minimum
                  of 65% to be hedged.

              
	
                9.  Amortisation

                 

              	
                1.25%
                  in year 1

                1.5%
                  in year 2 and 3

                2.0%
                  in year 4, 5 and 6

              
	
                10.  Margins
                  (bps)

              	
                125
                  bps based on LTV/LTC of 82.5% OR

                132
                  bps based on LTV/LTC of
                  85.0%

              
	
                11.  Fees

                Arrangement
                  fee

                 

                Renewal
                  fee

                 

                Redrawing
                  fee

                 

                 

                
                  Repayment
                    fee

                

              	
                 

                q  50bps
                  on signing facility documentation

                 

                q  25bps
                  on element of facility undrawn, payable at the end of the interest
                  period

                 

                q  35bps
                  on any amount redrawn

                 

                q  100bps
                  if refinanced with another lender within 36 months.

              
	
                13.  Securities

                 

                 

              	
                q  Legal
                  Charge / First ranking mortgage over each property acquired

                q  Pledge
                  over rent account

                q  Assignment
                  of lease receivables

                q  Cross
                  collateral between properties and Borrower

                q  2-year
                  €1m cash-deposit rental guarantee from Harry Muermans for the Property
                  in
                  Assen

                q  6-year
                  personal guarantee from Harry Muermans and Frans Feijdherbe for the
                  rental income of  €818,300 per year from Carrara Projectontwikkeling
                  B.V. in Hilversun

              
	
                14.  Covenants

                 

              	
                q  Loan
                  to Value; depends on financing structure either 82.5 or 85.0%

                q  Interest
                  Cover Ratio: 130%

                q  Debt
                  Service Coverage Ratio: 105%

                q  Following
                  the sale of an individual property 110% of the orginal amount financed
                  will be repaid.  For the avoidance of doubt, in the event that all
                  the properties in the portfolio are sold, only the amount required
                  to
                  fully repay the outstanding indebtedness will be requested upon
                  the sale
                  of the final property.  Amounts repaids may be redrawn.

                 

              
	
                15.  Conditions
                  precedent

                 

                 

                 

              	
                q  Satisfaction
                  with Know Your Customer requirements of  the borrower and main
                  shareholders

                q  Satisfaction
                  with full independent valuation report over each property conducted
                  by an
                  international recognised company.

                q  Satisfaction
                  with Technical, Legal and Environmental due diligence over each
                  property

                q  All
                  due diligence and valuation reports will be addressed to BoS

                q  All
                  third party professional/advisory fees and costs will be paid by
                  the
                  borrower

                q  BoS
                  right of veto over properties to be included within the
                  portfolio

                q  Satisfaction
                  with Wealth Statement from 2006 of Harry Muermans and Frans
                  Feijdherbe

                q  An
                  abort fee of 10bps (ie € 100,000) is payable if the borrower chooses an
                  alternative funder after BoS credit approval has been
                  granted.

              

      

      

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      Amsterdam,
        23 November 2007

      

      

      If
        these
        Terms and Conditions are acceptable, please sign and return the enclosed
        copy of
        this letter.

      

      I
        hereby
        accept, agree and confirm the above Terms and Conditions

      

      Name:

      

      /S/ D.Havenaar
.................................

      

      For
        and
        on behalf of the Borrower:

      

                  November
        23rd 2007
Dated:...........................................

       

      
        
          
          

        

        
          3

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