Document:

Purchase and Sale Agreement

 

EXHIBIT 10.1

			
	 
	 
	 

	 
	 

	Sale and Purchase Agreement

	 
	 
	 

	 
	 
	(1) 

 China Natural Resources, Inc. (Vendor)

(2) 

 上海康正投资管理有限公司 (Shanghai Kangzheng Investment Management Co., Ltd.) (Purchaser)

(3) 

 Double Grow International Limited (Target Company)

 

 

Sale and purchase agreement

			
	 
	 

	 
	 

	Details

	3

	 
	 
	 

	1.

	Interpretation

	4

	 
	 
	 

	2.

	Sale and purchase

	4

	 
	 
	 

	3.

	Completion

	4

	 
	 
	 

	4.

	Consideration and payment

	5

	 
	 
	 

	5.

	Vendor's Warranties

	5

	 
	 
	 

	6.

	Confidentiality

	5

	 
	 
	 

	7.

	Notices

	5

	 
	 
	 

	8.

	General

	6

	 
	 
	 

	9.

	Whole agreement

	7

	 
	 
	 

	10.

	Disputes, governing law and jurisdiction

	7

	 
	 
	 

	11.

	Language

	8

	 
	 

	Signing page

	9

	 
	 

	Schedule 1 – Definitions

	10

	 
	 

	Schedule 2 – The Target Company and its Subsidiaries

	11

	 
	 

	Schedule 3 –  The Company Indebtedness Assignment

	15

	 
	 

	Schedule 4 – Form of Promissory Note

	20

 Sale and Purchase Agreement | page 2

 

	
	Details

 

		
	Date

	29  December 2017

Parties

		
	Name

	China Natural Resources, Inc. 

	Short form name

	Vendor

	Particulars

	a company incorporated in the British Virgin Islands and having its registered office at Sea Meadow House, Blackburne Highway, P.O. Box 116, Road Town, Tortola, British Virgin Islands

		
	Name

	上海康正投资管理有限公司 (Shanghai Kangzheng Investment Management Co., Ltd.)

	Short form name

	Purchaser

	Particulars

	a company incorporated in the PRC and having its registered office at Room D-264,3F, 227 Rushan Road, China (Shanghai) Pilot Free Trade Zone, Shanghai, the PRC

		
	Name

	Double Grow International Limited

	Short form name

	Target Company

	Particulars

	a company incorporated in the British Virgin Islands with limited liability and having its registered office at P.O. Box 957, Offshore Incorporation Centre, Road Town, Tortola, British Virgin Islands

Background

A

As at the date of this Agreement, the Vendor is the sole legal and beneficial owner of the Sale Shares, representing the entire issued share capital of the Target Company. Particulars of the Target Company are set out in Part A of Schedule 2.  

B

As at the date of this Agreement, the Target Company holds the entire equity interest in Easy Gain Investments Limited and Full Profit Investments Limited, and directly holds 20% equity interest in, and indirectly through Easy Gain Investments Limited and Full Profit Investments Limited holds the remaining 80% equity interest in Antay Company. Particulars of all subsidiaries hereof of the Target Company are set out in Part B, Part C and Part D of Schedule 2.

C

As at the date of this Agreement, Antay Company is principally engaged in copper smelting and sale in Bolivia.  Antay Company has a registered capital of BOB20,000, in which BOB10,000 has been paid up.  Antay Company is 20% owned by Easy Gain Investments Limited, 60% owned by Full Profit Investments Limited and 20% owned by the Target Company. Antay Company is indirectly wholly and beneficially owned by the Vendor free from all Encumbrances or interests in favour of any other person.

D

The Purchaser is desirous of purchasing the Sale Shares and Shareholder’s Loan.

 Sale and Purchase Agreement | page 3

 

E

Subject to the terms and conditions set out hereunder, the Vendor agrees to sell and the Purchaser agrees to acquire from the Vendor the Sale Share and Shareholder’s Loan.

The Parties have agreed as follows:

1.

Interpretation

1.1

In addition to terms defined elsewhere in this Agreement, the definitions in Schedule 1 (Definitions) apply throughout this Agreement unless the contrary intention appears.

1.2

In this Agreement, unless the contrary intention appears, a reference to a clause, subclause or Schedule is a reference to a clause, subclause or schedule of this Agreement.  The Schedules form part of this Agreement.

1.3

The headings in this Agreement do not affect its interpretation.

1.4

In addition, in this Agreement, references to:

(a)

an authorisation includes an authorisation, consent, approval, resolution, licence, exemption, filing, registration or notarisation;

(b)

person means any person (including a natural person), firm, company, corporation, government, state or agency of a state or any association or partnership (whether or not having separate legal personality) of two or more of the foregoing;

(c)

any consent being required under this Agreement means such consent being required in advance and in writing; and

(d)

words in the singular include such words in the plural and words importing any gender shall be construed as any other gender, as the context requires.

2.

Sale and purchase

2.1

Subject to the terms and conditions of this Agreement, the Vendor shall sell, and the Purchaser shall purchase, the entire legal and beneficial interest in the Sale Shares and Shareholder’s Loan free from any Encumbrance together with all Rights attaching to the Sale Shares and Shareholder’s Loan at the Consideration.

3.

Completion

3.1

Completion shall take place immediately after the Parties entering into this Agreement and the Company Indebtedness Assignment at the offices of the Vendor, at Level Room 2205, West Tower, Shun Tak Centre, 200 Connaught Road Central, Sheung Wan, Hong Kong (or such other time and place as the Vendor and the Purchaser may agree). 

3.2

At Completion, upon compliance by the Purchaser with Clause 4, the Vendor shall deliver to the Purchaser the following:

(a)

a duly executed instrument of transfer and a duly executed sold note in respect of the Sale Shares in favour of the Purchaser (or its nominee(s));

(b)

original share certificates in respect of the Sale Shares; and

(c)

letters of resignation (if required by the Purchaser) duly signed by the directors of the Target Company.

 Sale and Purchase Agreement | page 4

 

4.

Consideration and payment

The total Consideration for the Sale Shares and Shareholder’s Loan shall be the aggregate sum of USD2,641,129. The Consideration shall be satisfied by payment as follows:

(i) as to the consideration of Sale Shares, USD1,200,000 shall be payable by the Purchaser to the Vendor in cash upon the signing of this Agreement as part payment of the Consideration, the receipt of which is hereby acknowledged by the Vendor; and

(ii) as to the consideration of Shareholder’s Loan, USD1,441,129 shall be payable by the Purchaser to the Vendor by delivery of a promissory note. The form of the promissory note is set out in Schedule 4.

5.

Vendor's Warranties

5.1

The Vendor hereby represents to the Purchaser that:

(a)

it is the sole beneficial and registered owner of the Sale Shares; and

(b)

it has the requisite power and authority to enter into and perform this Agreement.

6.

Confidentiality

6.1

This Agreement and its contents are confidential.  Each Party will treat all information relating to the other Party that it has received or obtained from the other Party as a result of entering into this Agreement as confidential (Confidential Information).

6.2

No Party shall make or permit any person connected with it to make any announcement or disclosure relating to the transaction contemplated under this Agreement unless:

(a)

required by applicable law, or a court of law; or any competent governmental, regulatory or statutory authority, or the rules of any recognised stock exchange to which that Party is subject (including the publication of any announcement by the Vendor in relation to the transactions contemplated hereunder); or

(b)

the information is properly disclosed to the professional advisers, auditors, bankers, shareholders or investors of the disclosing Party; or

(c)

the information is in the public domain, other than through a breach of this clause; or

(d)

the Party to which the information relates has given its consent to the announcement or disclosure.

7.

Notices

7.1

Any notice or other formal communication given under this Agreement must be in writing and may be delivered, or sent by post or fax to the Party as follows:

(a)

to the Vendor:

			
	 
	Address:

	Room 2205, Shun Tak Centre, 200 Connaught Road Central, Hong Kong

	 
	For the attention of:

	Mr. Bonaventure Yue

	 
	Fax:

Email address:

	+852 28106963

bonyue@fsanthracite.com

 Sale and Purchase Agreement | page 5

 

(b)

to the Purchaser:

			
	 
	Address:

	Room D-264,3F, 227 Rushan Road, China (Shanghai) Pilot Free Trade Zone, Shanghai, the PRC

	 
	For the attention of:

	Mr. Li Yuan

	 
	Tel:

Email address: 

	13590443167

xintianwan1@163.com

(c)

to the Target Company:

			
	 
	Address:

	Room 2205, Shun Tak Centre, 200 Connaught Road Central, Hong Kong

	 
	For the attention of:

	Mr. Bonaventure Yue

	 
	Fax:

Email address:

	+852 28106963

bonyue@fsanthracite.com

or at such other address, fax number or email address as a Party may notify to the other Parties by at least five Business Days' prior written notice.  Any notice or other document sent by post shall be sent by prepaid registered post (if addressee is located in the same country as sender) or by prepaid airmail (if its destination is elsewhere).  Any notice or other document (including envelope) should be written in English.

7.2

Any notice or other communication shall be deemed to have been given:

(a)

if delivered by hand, on signature of a delivery receipt or at the time the notice is left at the proper address;

(b)

if sent by pre-paid first-class post or other next working day delivery service, at 9.00 am on the second (2nd) Business Day after posting or at the time recorded by the delivery service;

(c)

if sent by fax, when received in legible form; and

(d)

if sent by email, when received in legible form.

8.

General

8.1

The rights of each Party under this Agreement:

(a)

may be exercised as often as necessary; and

(b)

may be waived only in writing and specifically by such Party.

Delay in exercising or non-exercise of or indulgence granted to any other Party in respect of any such right is not a waiver of that right.

8.2

No partnership exists between or among the Parties by virtue of this Agreement.

8.3

The Purchaser shall be responsible for and shall reimburse the Vendor for all costs (including legal fees), expenses, fees and taxes relating to the preparation, negotiation, execution and 

 Sale and Purchase Agreement | page 6

 

delivery of this Agreement.  The stamp duty payable in respect of the Sale Shares shall be borne solely by the Purchaser.

8.4

Save as provided herein, none of the rights or obligations of a Party under this Agreement may be assigned or transferred without the prior consent of the other Parties.

8.5

The terms of this Agreement may only be amended in writing and signed by or on behalf of each of the Parties.

8.6

If a term of this Agreement is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that will not affect the legality, validity or enforceability in that jurisdiction of any other term of this Agreement or the legality, validity or enforceability in other jurisdictions of that or any other term of this Agreement.

8.7

This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same agreement.

9.

Whole agreement

9.1

This Agreement contains the whole agreement between the Parties relating to the transactions contemplated by this Agreement and supersede all previous agreements, whether oral or in writing, between the parties relating to these transactions.

9.2

Each Party acknowledges that in agreeing to enter into this Agreement it has not relied on any representation, warranty, collateral contract or other assurance (except those set out in this Agreement and the documents referred to in it) made by or on behalf of any other Party before the signature of this Agreement.  Each Party waives all rights and remedies which, but for this subclause, might otherwise be available to it in respect of any such representation, warranty, collateral contract or other assurance.

9.3

Nothing in the preceding subclause limits or excludes any liability for fraud.

10.

Disputes, governing law and jurisdiction

10.1

This Agreement (including this Clause 10.1) and any non-contractual obligations arising out of or in connection with it are governed by and shall be construed in all respects in accordance with the laws of Hong Kong. 

10.2

Any dispute, controversy, difference or claim arising out of or relating to or having any connection with this Agreement, including any dispute as to the validity, invalidity, interpretation, performance, existence, breach or termination thereof or the consequence of its nullity, and any dispute relating to any non-contractual obligations arising out of or in connection with it, shall be referred to and finally resolved by arbitration under the Hong Kong International Arbitration Centre Administered Arbitration Rules in force when the Notice of Arbitration is submitted in accordance with the Rules (“the Rules”). The number of arbitrators shall be three (3). The arbitration proceedings shall be conducted in English. The seat, or legal place of arbitration, shall be Hong Kong. The Rules are incorporated by reference into this Clause and capitalised terms used in this Clause which are not otherwise defined in this Agreement have the meaning given to them in the Rules.

10.3

Any documents which are required to be served by a party on any other parties in relation to any suit or proceeding arising from or in connection with this Agreement and any non-contractual obligations arising out of or in connection with it shall be served in accordance with Clause 8.1 (but not by fax transmission or email) or Clause 10.4.

 Sale and Purchase Agreement | page 7

 

10.4

Each of the Parties irrevocably appoints Anka Consultants Limited of Room 2204, West Tower, Shun Tak Centre, 200 Connaught Road Central, Sheung Wan, Hong Kong as its agent (“Shareholders’ Process Agent”) under this Agreement for the service of process in any proceedings before Hong Kong courts or the Hong Kong International Arbitration Centre in connection with this Agreement and any non-contractual obligations arising out of or in connection with it. Service upon the Shareholders’ Process Agent shall be good service upon the relevant Shareholder whether or not it is forwarded to and received by that Shareholder. If any person appointed as the Shareholders’ Process Agent under this Clause 10.4 is unable for any reason to so act, the relevant Shareholder must immediately (and in any event within fourteen (14) days of the event taking place) appoint another agent who is domiciled or incorporated in Hong Kong (as the case may be). Failing this, the Vendor may appoint another process agent for this purpose. The purchaser agrees that failure by the Shareholders' Process Agent to notify it/him of any process will not invalidate the relevant proceedings. This Clause 10.4 does not affect any other method of service allowed by law.

10.5

Notwithstanding the foregoing, the Parties agree that either of them may seek interim measures including injunctive relief in relation to the provisions of this Agreement or the Parties' performance of it from any court of competent jurisdiction.

11.

Language

The language of this Agreement and the transactions envisaged by it is English and all notices, demands, requests, statements, certificates or other documents or communications shall be in English unless otherwise agreed.

 Sale and Purchase Agreement | page 8

 

Signing page

 

IN WITNESS of which the Parties have executed this Agreement on the date first set out above.

				
	Signed by WONG Wah On Edward for and on behalf of

China Natural Resources, Inc.

in the presence of 

	 
	 
	 

	/s/ Yue Ming Wai Bonaventure

	¬

	/s/ WONG Wah On Edward

	¬

	Signature of witness

	 
	Name of signatory

	 

	Yue Ming Wai Bonaventure

	 
	 
	 

	Name of witness (print)

	 
	 
	 

				
	Executed as an Agreement by   LI Yuan

for and on behalf of上海康正投资管理有限公司(Shanghai Kangzheng Investment Management Co., Ltd.)

in the presence of 

	 
	 
	 

	/s/ Hu Longxiu

	¬

	 /s/  LI Yuan

	¬

	Signature of witness

	 
	Name of signatory

	 

	Hu Longxiu

	 
	 
	 

	Name of witness (print)

	 
	 
	 

				
	Sealed with the Common Seal of Double Grow International Limited and signed by LI Feilie

in the presence of 

	 
	 
	 

	/s/ Hu Longxiu

	¬

	/s/ LI Feilie

	¬

	Signature of witness

	 
	Name of signatory

	 

	Hu Longxiu

	 
	 
	 

	Name of witness (print)

	 
	 
	 

 Sale and Purchase Agreement | page 9

 

	
	Schedule 1 – Definitions

In this Agreement, capitalised terms have the following meanings:

Antay Company means Planta Metalurgica Antay Pacha S.A., a company established in Bolivia.

Bolivia means the Plurinational State of Bolivia.

BOB means Bolivian Boliviano, the lawful currency of Bolivia.

Company Indebtedness Assignment means the deed of assignment of the Company Indebtedness in the form set out in Schedule 3.

Completion means completion of the sale and purchase of the Sale Shares and Shareholder’s Loan in accordance with this Agreement.

Consideration means the consideration in the aggregate sum of USD 2,641,129 payable by the Purchaser to the Vendor for the purchase of the Sale Shares and Shareholder’s Loan pursuant to this Agreement.

Encumbrance means any mortgage, charge (fixed or floating), pledge, lien, hypothecation, trust, right of set off or other third party right or interest (legal or equitable) including any right of pre-emption, assignment by way of security, reservation of title or any other security interest of any kind however created or arising or any other agreement or arrangement (including a sale and repurchase arrangement) having similar effect.

Hong Kong means the Hong Kong Special Administrative Region of the PRC.

Company Indebtedness means the outstanding indebtedness owing by the Target Company to the Vendor as at Completion, the benefit of which shall be assigned by the Vendor to the Purchaser upon Completion.

Parties means parties to this Agreement and Party means any one of them.

PRC means the People's Republic of China.

Rights means any right attaching to the Sale Shares at and after the date of this Agreement including but not limited to rights to unpaid or undeclared dividends and other distributions.

Sale Shares means issued share capital of USD 100,000 of the Target Company divided into 100,000 ordinary shares of USD1.00 each, representing 100% of the issued share capital of the Target Company in issue as at date of this Agreement.

Shareholder’s Loan

means all indebtedness outstanding from the Target Company to the Vendor which amounts to USD 1,441,129 as at the date hereof.

Target Company means Double Grow International Limited (倍润国际有限公司), a company incorporated pursuant to the Business Companies Act, 2004 of the British Virgin Islands with company number 1854054, particulars of which and its subsidiaries are set out in Schedule 2.

USD means United States dollars, the lawful currency of the United States of America. 

 Sale and Purchase Agreement | page 10

 

	
	Schedule 2 – The Target Company and its Subsidiaries

PART A

INFORMATION OF THE TARGET COMPANY

				
	Name of Company

	:

	Double Grow International Limited 

	Company Number

	:

	1854054

	Place of Incorporation

	:

	the British Virgin Islands

	Date of Incorporation

	:

	17 December 2014

	Registered Office

	:

	P.O. Box 957, Offshore Incorporation Centre, Road Town, Tortola, British Virgin Islands

	Capital Structure

	:

	Authorized - 100,000 ordinary shares of US$1.00 each                

	 

	 
	Issued     - 100,000 ordinary shares of US$1.00 each

	 
	 
	 

	Registered Shareholder

	:

	Name

	Number of shares

	 

	 
	China Natural Resources, Inc.

	100,000

	 

	 
	 

	100,000

	 
	 
	 
	 

	 
	 
	 
	 

	Directors

	 
	Name

	Appointed on

	 
	:

	Li Feilie

	17/12/2014

	 
	 
	 
	 

	Company Secretaries

	:

	Wong Wah On Edward 

	Principal activities

	:

	Investment Holding  

	Subsidiaries 

	:

	Easy Gain Investments Limited

Full Profit Investments Limited

Planta Metalurgica Antay Pacha S.A.

 Sale and Purchase Agreement | page 11

 

PART B

INFORMATION OF EASY GAIN INVESTMENTS LIMITED

				
	Name of Company

	:

	Easy Gain Investments Limited 

	Company Number

	:

	1854084

	Place of Incorporation

	:

	the British Virgin Islands

	Date of Incorporation

	:

	17 December 2014

	Registered Office

	:

	P.O. Box 957, Offshore Incorporation Centre, Road Town, Tortola, British Virgin Islands

	Capital Structure

	:

	Authorized - 100,000 ordinary shares of US$1.00 each                

	 

	 
	Issued     - 100,000 ordinary shares of US$1.00 each

	 
	 
	Name

	Number of shares

	Registered Shareholder

	:

	Double Grow International Limited

倍润国际有限公司

	100,000

	 

	100,000

	Directors

	 
	Name

	Appointed on

	 
	:

	Li Feilie

	17/12/2014

	Company Secretaries

	:

	Wong Wah On Edward 

	Principal activities

	:

	Investment Holding  

	Subsidiaries 

	:

	Planta Metalurgica Antay Pacha S.A.

 Sale and Purchase Agreement | page 12

 

PART C

INFORMATION OF FULL PROFIT INVESTMENTS LIMITED

				
	Name of Company

	:

	Full Profit Investments Limited 

	Company Number

	:

	1854101

	Place of Incorporation

	:

	the British Virgin Islands

	Date of Incorporation

	:

	17 December 2014

	Registered Office

	:

	P.O. Box 957, Offshore Incorporation Centre, Road Town, Tortola, British Virgin Islands

	 

	 
	 

	 
	 
	 

	Capital Structure

	:

	Authorized - 100,000 ordinary shares of US$1.00 each                

	 

	 
	Issued    - 100,000 ordinary shares of US$1.00 each

	 
	 
	 

	 
	 
	Name

	Number of shares

	Registered Shareholder

	:

	Double Grow International Limited

倍润国际有限公司

	100,000

	 

	 
	 
	100,000

	 
	 
	 
	 

	Directors

	:

	Name

	Appointed on

	 
	 
	Li Feilie

	17/12/2014

	 
	 
	 
	 

	Company Secretaries

	:

	Wong Wah On Edward

	 
	 
	 

	Principal activities

	:

	Investment Holding 

	Subsidiaries 

	:

	Planta Metalurgica Antay Pacha S.A.

 Sale and Purchase Agreement | page 13

 

PART D

INFORMATION OF ANTAY COMPANY

				
	Name of Company

	:

	Planta Metalurgica Antay Pacha S.A.

	 
	 
	 

	 
	 
	 

	Company Number

	:

	272228026

	 
	 
	 

	 
	 
	 

	Place of Incorporation

	:

	Potosi, Bolivia

	 
	 
	 

	 
	 
	 

	Date of Incorporation

	:

	29 January 2014

	 
	 
	 

	 
	 
	 

	Registered Office

	:

	Octavio rubin de celis Street, No.S/N, Industrial Park, Uyuni,  Potosi, Bolivia

	 
	 
	 

	Capital Structure

	:

	Registered share capital: BOB 20,000 divided into 20,000 ordinary shares of BOB 1.00 each

	 

	 
	Paid Up share capital: BOB10,000 divided into 10,000 ordinary shares of BOB 1.00 each

 

	Registered Shareholders

	:

	Name

	Number of shares

	 

	 
	Double Grow International Limited

	2,000

	 
	 
	Easy Gain Investments Limited 

	2,000

	 
	 
	Full Profit Investments Limited

	6,000

	 

	 
	 

	10,000

	 
	 
	 
	 

	 Directors

	:

	Name

	Appointed on

	 
	 
	 
	 

	 
	 
	Wang Yourong

	22/12/2015

	 
	 
	Ai Lei

	22/12/2015

	 
	 
	Grisett Carrasco

	22/12/2015

	Company Secretaries

	:

	Grisett Carrasco

	Principal activities

	:

	Smelting and sale of copper

	Subsidiaries 

	:

	Nil

 Sale and Purchase Agreement | page 14

 

	
	Schedule 3  – The Company Indebtedness Assignment

THE COMPANY INDEBTEDNESS ASSIGNMENT

			
	 
	 
	 

	 

	

Dated the  29th day of December 2017

CHINA NATURAL RESOURCES, INC.

 

and

上海康正投资管理有限公司 (SHANGHAI KANGZHENG INVESTMENT MANAGEMENT CO., LTD.)

and

DOUBLE GROW INTERNATIONAL LIMITED

	 

	 

	

DEED OF ASSIGNMENT OF LOAN

 

	 

 Sale and Purchase Agreement | page 15

 

THIS DEED is made the 29th day of December 2017

BETWEEN:

(1)

CHINA NATURAL RESOURCES, INC., a company incorporated in the British Virgin Islands and having its registered office at Sea Meadow House, Blackburne Highway, P.O. Box 116, Road Town, Tortola, British Virgin Islands (the “Assignor”); 

(2)

上海康正投资管理有限公司(SHANGHAI KANGZHENG INVESTMENT MANAGEMENT CO., LTD.), a company incorporated in the PRC and having its registered office at Room D-264,3F, 227 Rushan Road, China (Shanghai) Pilot Free Trade Zone, Shanghai, the PRC (the“Assignee”); and

(3)

DOUBLE GROW INTERNATIONAL LIMITED (倍润国际有限公司), a company incorporated in the British Virgin Islands and having its registered office at P.O. Box 957, Offshore Incorporation Centre, Road Town, Tortola, British Virgin Islands (the “Company”).

WHEREAS as at the date hereof the Company is indebted to the Assignor in the sum of USD 1,441,129,(the “Indebtedness”) and the Assignor has agreed to assign the Indebtedness to the Assignee for the consideration of USD 1,441,129  (the “Consideration”) and upon the terms and conditions set out below.

NOW THIS DEED WITNESSETH as follows:

1.

REPRESENTATIONS, WARRANTIES AND UNDERTAKINGS

1.1

The Assignor hereby represents and warrants to the Assignee that the Assignor is the absolute legal and beneficial owner of the Indebtedness and has full right and title to the Indebtedness and that the Indebtedness is outstanding and owing from the Company to the Assignor.

2.

COVENANTS

2.1

The Assignor in respect of the Indebtedness hereby covenants with the Assignee that notwithstanding anything done or omitted by the Assignor or any other person, knowingly or otherwise, the Assignor has and will at all material times have full power, right and authority to assign the Indebtedness on the terms hereof and that the Indebtedness is free of all encumbrances.

2.2

The Assignor hereby covenants with the Assignee to sign or execute such documents and to do such deeds acts or things to secure to the Assignee the full benefit of the interest of the Assignor in and concerning the Indebtedness and to carry into effect or to give legal effect to the provisions of this Deed and the transactions hereby contemplated as and when reasonably requested by the Assignee and at the expense of the Assignee.

2.3

The Assignor hereby covenants with the Assignee immediately on receipt to pay to the Assignee any payments or other money which may be received by the Assignor from the Company in respect of the Indebtedness and until such payment to hold the same on trust for the Assignee.

 Sale and Purchase Agreement | page 16

 

3.

ASSIGNMENT OF INDEBTEDNESS

In pursuance of such agreement and in consideration of the payment of the Consideration paid by the Assignee to the Assignor (the receipt whereof is hereby acknowledged) the Assignor as beneficial owner of the Indebtedness hereby assigns to the Assignee or its nominee or transferee absolutely with effect from the date hereof all the rights, benefits, title and interests of the Assignor in respect of the Indebtedness free from all rights of pre-emption, options, liens, claims, equities, charges, encumbrances or third-party rights of any nature whatsoever together with the full benefit and advantages thereof and all rights, interests, benefits and title attached, accrued or accruing therein and thereto to hold the same unto the Assignee absolutely.

4.

NOTICE

4.1

The Assignor hereby gives notice to the Company of the assignment effected hereby and the Company accepts such notice and confirms that the Indebtedness is still outstanding.

4.2

The Company hereby covenants with the Assignor and the Assignee that it will as from the date hereof pay to the Assignee any and all of the Indebtedness.

5.

GENERAL PROVISIONS

5.1

Any notice required to be given under this Deed shall be sufficiently given if delivered personally or forwarded by registered post or sent by facsimile transmission to the relevant party at its address or fax number set out below (or such other address or fax number as the addressee has by 5 days prior written notice specified to the other party):

				
	 
	 
	 
	 

	To: The Assignor

	:

	Room 2205, West Tower, Shun Tak Centre, 200 Connaught Road Central, Sheung Wan, Hong Kong 

	Fax Number

	 
	+852 2810 6963

	Attention

	:

	The board of directors

	 

	 

	 

	To: The Assignee

	:

	Room D-264,3F, 227 Rushan Road, China (Shanghai) Pilot Free Trade Zone, Shanghai, the PRC

	Fax Number

	:

	13590443167

	Attention

	:

	Mr. Li Yuan

			
	To: The Company

	:

	Room 2205, 22/F, 

Shun Tak Centre, West Tower, 

200 Connaught Road Central, 

Hong Kong

	Fax Number

	:

	+852 2810 6963

	Attention

	:

	The board of directors

 Sale and Purchase Agreement | page 17

 

5.2

Any notice delivered personally shall be deemed to have been served at the time of delivery. Any notice sent by pre-paid registered post shall be deemed to have been served 3 Business Days after the time at which it was posted and in proving such service it shall be sufficient to prove that the notice was properly addressed and posted by prepaid registered letter post and notices sent by facsimile transmission shall be deemed to have been served upon transmission.

5.3

This Deed shall be binding on and ensure for the benefit of each party’s successors and permitted assigns (as the case may be).

6.

GOVERNING LAW AND JURISDICTION

6.1

This Deed shall be governed by and construed in all respects in accordance with the laws of Hong Kong.

6.2

In relation to any legal action or proceedings to enforce this Deed or arising out of or in connection with this Deed (“proceedings”) each of the parties irrevocably submits to the jurisdiction of the courts of Hong Kong and waives any objection to proceedings in such courts on the grounds of venue or on the grounds that the proceedings have been brought in any inconvenient forum.

6.3

The submissions by the parties referred to in Clause 6.2 shall not affect the right of any party to take proceedings in any other jurisdiction nor shall the taking of proceedings in any jurisdiction preclude any party from taking proceedings in any other jurisdiction.

6.4

Each of the following parties hereby irrevocably appoints the person set opposite its name below as its agent to receive on its behalf service of proceedings issued out of the courts of Hong Kong in any action or proceedings arising out of or in connection with this Deed:

Name: Anka Consultants Limited

Address: Room 2204, 22/F, Shun Tak Centre, West Tower, 200 Connaught Road Central, Hong Kong

IN WITNESS whereof the parties hereto have caused this Deed to be executed as a deed the day and year first above written.

 Sale and Purchase Agreement | page 18

 

			
	SEALED with the COMMON SEAL of

	)

	 

	 
	)

	 

	CHINA NATURAL RESOURCES, INC.

	)

	 

	 
	)

	 

	and SIGNED by WONG Wah On Edward

	)

	 

	 
	)

	 

	Duly authorised for and on its behalf in the presence of:

	)

	 

	 
	)

	 

	/s/ Yue Ming Wai Bonaventure

	)

	/s/ WONG Wah On Edward

	Signature of witness

	)

	By executing this Deed the

	 
	)

	signatory warrants that the

	Yue Ming Wai Bonaventure

	)

	signatory is duly authorized to

	Name of witness (block letters)

	)

	execute this Deed on behalf of

	 
	)

	CHINA NATURAL

	 
	)

	RESOURCES, INC.

	 
	 
	 

	 
	 
	 

	SEALED with the COMMON SEAL of

	)

	 

	 
	)

	 

	上海康正投资管理有限公司(SHANGHAI KANGZHENG

	)

	 

	 
	)

	 

	INVESTMENT MANAGEMENT CO., LTD.)

	)

	 

	 
	)

	 

	and SIGNED by LI Yuan

	)

	 

	 
	)

	 

	duly authorised for and on its behalf in the presence of :

	)

	 

	 
	)

	 

	/s/ Hu Longxiu

	)

	/s/ LI Yuan

	Signature of witness

	)

	By executing this Deed the

	 
	)

	signatory warrants that the

	Hu Longxiu

	)

	signatory is duly authorized to

	Name of witness (block letters)

	)

	execute this Deed on behalf of

	 
	)

	上海康正投资管理有限公司

	 
	)

	(SHANGHAI KANGZHENG

	 
	)

	INVESTMENT

	 
	)

	MANAGEMENT CO., LTD.)

	 
	 
	 

	 
	 
	 

	SIGNED by LI Feilie

	)

	 

	 
	)

	 

	duly authorised for and on behalf of

	)

	 

	 
	)

	 

	DOUBLE GROW INTERNATIONAL LIMITED

	)

	 

	 
	)

	 

	in the presence of:

	)

	 

	 
	)

	 

	/s/ Hu Longxiu

	)

	/s/ LI Feilie

	Signature of witness

	)

	By executing this Deed the

	 
	)

	signatory warrants that the

	Hu Longxiu

	)

	signatory is duly authorized to

	Name of witness (block letters)

	)

	execute this Deed on behalf of

	 
	)

	DOUBLE GROW

	 
	)

	INTERNATIONAL LIMITED

 Sale and Purchase Agreement | page 19

 

	
	Schedule 4 – Form of Promissory Note

USD1,441,129

We, 上海康正投资管理有限公司(SHANGHAI KANGZHENG INVESTMENT MANAGEMENT CO., LTD.), promise to pay to CHINA NATURAL RESOURCES, INC. on 28 January 2018 the sum of USD 1,441,129, without interest.

Dated the 29th day of December 2017

 

	
	/s/  LI Yuan

For and on behalf of

上海康正投资管理有限公司

(Shanghai Kangzheng Investment Management Co., Ltd.)

 Sale and Purchase Agreement | page 20Subscription
Agreement

 

This
Subscription Agreement (this “Agreement”) is made and entered into as of December 30, 2017 by and between
RITO GROUP CORP., a Nevada corporation (the “Company”) and the undersigned (the “Purchaser”).
The Purchaser, together with the Company shall be referred to as the “Parties”.

 

WHEREAS,
the Company desires to issue and sell to the Purchaser, and the Purchaser desires to purchase from the Company [number of shares]
of common stock, par value $0.0001 per share of the Company (“Common Stock”) pursuant to an exemption from registration
under Section 4(a)(2), Regulation D, and/or Regulation S under the Securities Act of 1933, as amended (the “1933 Act”)
or other applicable exemptions on the terms and conditions set forth in this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual covenants set forth herein, and for other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:

 

	 	1.	Securities
    Sale and Purchase. The Company shall issue and sell to the Purchaser and the Purchaser agrees to purchase from the Company
    [number of shares] of Common Stock of the Company (the “Shares” or the “Securities”)
    at a price of $1.50 per share for a total amount of US$ [total subscription amount] (the “Purchase Price”)
    pursuant to an exemption from registration provided by Section 4(a)(2), Regulation D, and/or Regulation S promulgated under
    the 1933 Act or other applicable exemption. 
	 	 	 
	 	2.	Closing.
    At the closing, the Company will deliver to the Purchaser the Shares and the Purchase Price shall be paid by the Purchaser
    via wire transfer of immediately available funds to an account designated by the Company. The closing shall be held on such
    date as the parties may agree upon (the “Closing” and the “Closing Date”) at the offices of Rito Group
    Corp., Room 6C, 4/F, Block C, Hong Kong Industrial Centre, 489 Castle Peak Road, Lai Chi Kok, Hong Kong at 10:00 a.m., or
    at such other location or by such other means upon which the parties may agree; provided, that all of the conditions set forth
    in Section 2 hereof and applicable to the Closing shall have been fulfilled or waived in accordance herewith. 
	 	 	 
	 	3.	Representations,
    Warranties and Covenants of the Company. The Company represents and warrants to the Purchaser, as of the date hereof,
    as follows:

 

	 	 	(a)	Organization
    and Standing. The Company is a duly organized corporation, validly existing and in good standing under the laws of the
    State of Nevada, has full power to carry on its business as and where such business is now being conducted and to own, lease
    and operate the properties and assets now owned or operated by it and is duly qualified to do business and is in good standing
    in each jurisdiction where the conduct of its business or the ownership of its properties requires such qualification.

 

    	 

    	 

    

 

	 	 	(b)	Authorization
    and Power. The execution, delivery and performance of this Agreement and the consummation of the transaction contemplated
    hereby have been duly authorized by the Board of Directors of the Company. The Agreement has been (or upon delivery will be)
    duly executed by the Company is or, when delivered in accordance with the terms hereof, will constitute, assuming due authorization,
    execution and delivery by each of the parties thereto, the valid and binding obligation of the Company enforceable against
    the Company in accordance with its terms.
	 	 	 	 
	 	 	(c)	No
    Conflict. The execution, delivery and performance of this Agreement and the consummation of the transactions contemplated
    hereby do not (i) violate or conflict with the Company’s Certificate of Incorporation, By-laws or other organizational
    documents, (ii) conflict with or result (with the lapse of time or giving of notice or both) in a material breach or default
    under any material agreement or instrument to which the Company is a party or by which the Company is otherwise bound, or
    (iii) violate any order, judgment, law, statute, rule or regulation applicable to the Company, except where such violation,
    conflict or breach would not have a Material Adverse Effect on the Company. This Agreement when executed by the Company will
    be a legal, valid and binding obligation of the Company enforceable in accordance with its terms (except as may be limited
    by bankruptcy, insolvency, reorganization, moratorium and similar laws and equitable principles relating to or limiting creditors’
    rights generally).
	 	 	 	 
	 	 	(d)	Authorization.
    Issuance of the Shares to Purchasers has been duly authorized by all necessary corporate actions of the Company.
	 	 	 	 
	 	 	(e)	Issuances.
    The Shares to be issued hereunder will be validly issued, fully paid and nonassessable.
	 	 	 	 
	 	 	(f)	Litigation
    and Other Proceedings. There are no actions, suits, proceedings or investigations pending or, to the knowledge of the
    Company, threatened against the Company at law or in equity before or by any court or Federal, state, municipal or their governmental
    department, commission, board, bureau, agency or instrumentality, domestic or foreign which could materially adversely affect
    the Company. The Company is not subject to any continuing order, writ, injunction or decree of any court or agency against
    it which would have a material adverse effect on the Company.
	 	 	 	 
	 	 	(g)	Use
    of Proceeds. The proceeds of this Offering and sale of the Shares, net of payment of placement expenses, will be used
    by the Company for working capital and other general corporate purposes. 
	 	 	 	 
	 	 	(h)	Consents/Approvals.
    No consents, filings (other than Federal and state securities filings relating to the issuance of the Shares pursuant
    to applicable exemptions from registration, which the Company hereby undertakes to make in a timely fashion), authorizations
    or other actions of any governmental authority are required to be obtained or made by the Company for the Company’s
    execution, delivery and performance of this Agreement which have not already been obtained or made or will be made in a timely
    manner following the Closing. 

 

    	 

    	 

    

 

	 	 	(i)	No
    Commissions. The Company has not incurred any obligation for any finder’s, broker’s or agent’s fees
    or commissions in connection with the transaction contemplated hereby. 
	 	 	 	 
	 	 	(j)	Disclosure.
    No representation or warranty by the Company in this Agreement, the Agreement, nor in any certificate, Schedule or Exhibit
    delivered or to be delivered pursuant to this Agreement: contains or will contain any untrue statement of material fact or
    omits or will omit to state a material fact necessary to make the statements contained herein or therein not misleading. To
    the knowledge of the Company and its subsidiaries at the time of the execution of this Agreement, there is no information
    concerning the Company and its subsidiaries or their respective businesses which has not heretofore been disclosed to the
    Purchasers that would have a Material Adverse Effect.
	 	 	 	 
	 	 	(k)	Compliance
    with Laws. The business of the Company and its subsidiaries has been and is presently being conducted so as to comply
    with all applicable material federal, state and local governmental laws, rules, regulations and ordinances.

 

	 	4.	Purchaser
    Representations, Warranties and Agreements. The Purchaser hereby acknowledges, represents and warrants as follows:

 

	 	 	(a)	Organization;
    Authority. Such Purchaser is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction
    of its organization with the requisite corporate or partnership power and authority to enter into and to consummate the transactions
    contemplated by the applicable Documents and otherwise to carry out its obligations thereunder. The execution, delivery and
    performance by such Purchaser of the transactions contemplated by this Agreement has been duly authorized by all necessary
    corporate or, if such Purchaser is not a corporation, such partnership, limited liability company or other applicable like
    action, on the part of such Purchaser. Each of this Agreement and other Documents has been duly executed by such Purchaser,
    and when delivered by such Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation
    of such Purchaser, enforceable against it in accordance with its terms, except as such enforceability may be limited by applicable
    bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the enforcement
    of, creditors’ rights and remedies or by other equitable principles of general application.
	 	 	 	 
	 	 	(b)	Investment
    Intent. Such Purchaser is acquiring the Shares as principal for its own account for investment purposes only and not with
    a view to or for distributing or reselling such Shares or any part thereof, without prejudice, however, to such Purchaser’s
    right at all times to sell or otherwise dispose of all or any part of such Shares in compliance with applicable federal and
    state securities laws. Subject to the immediately preceding sentence, nothing contained herein shall be deemed a representation
    or warranty by such Purchaser to hold the Shares for any period of time. Such Purchaser is acquiring the Shares hereunder
    in the ordinary course of its business. Such Purchaser does not have any agreement or understanding, directly or indirectly,
    with any Person to distribute any of the Shares.

 

    	 

    	 

    

 

	 	 	(c)	Purchaser
    Status. 

 

	 	 	(i)	The
    Purchaser agrees and acknowledges that it was not, a “U.S. Person” (as defined below) at the time the Purchaser
    was offered the Shares and as of the date hereof:

 

	 	 	(A)
    	Any
    natural person resident in the United States;
	 	 	 	 
	 	 	(B)
    	Any
    partnership or corporation organized or incorporated under the laws of the United States;
	 	 	 	 
	 	 	(C)
    	Any
    estate of which any executor or administrator is a U.S. person;
	 	 	 	 
	 	 	(D)
    	Any
    trust of which any trustee is a U.S. person;
	 	 	 	 
	 	 	(E)
    	Any
    agency or branch of a foreign entity located in the United States;
	 	 	 	 
	 	 	(F)
    	Any
    non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit
    or account of a U.S. person;
	 	 	 	 
	 	 	(G)
    	Any
    discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated,
    or (if an individual) resident of the United States; and
	 	 	 	 
	 	 	(H)
    	Any
    partnership or corporation if (i) organized or incorporated under the laws of any foreign jurisdiction and (ii) formed by
    a U.S. person principally for the purpose of investing in securities not registered under the 1933 Act, unless it is organized
    or incorporated, and owned, by accredited Purchasers (as defined in Rule 501(a) of Regulation D promulgated under the 1933
    Act) who are not natural persons, estates or trusts.

 

    	 

    	 

    

 

“United
States” or “U.S.” means the United States of America, its territories and possessions, any State
of the United States, and the District of Columbia.

 

	 	 	(ii)	The
    Purchaser understands that no action has been or will be taken in any jurisdiction by the Company that would permit a public
    offering of the Shares in any country or jurisdiction where action for that purpose is required. 
	 	 	 	 
	 	 	(iii)	The
    Purchaser (i) as of the execution date of this Agreement is not located within the United States, and (ii) is not purchasing
    the Shares for the account or benefit of any U.S. Person, except in accordance with one or more available exemptions from
    the registration requirements of the 1933 Act or in a transaction not subject thereto.
	 	 	 	 
	 	 	(iv)	The
    Purchaser will not resell the Shares except in accordance with the provisions of Regulation S (Rule 901 through 905 and Preliminary
    Notes thereto), pursuant to a registration statement under the 1933 Act, or pursuant to an available exemption from registration;
    and agrees not to engage in hedging transactions with regard to such securities unless in compliance with the 1933 Act.
	 	 	 	 
	 	 	(v)	The
    Purchaser will not engage in hedging transactions with regard to shares of the Company prior to the expiration of the distribution
    compliance period specified in Category 2 or 3 (paragraph (b)(2) or (b)(3)) in Rule 903 of Regulation S, as applicable, unless
    in compliance with the 1933 Act; and as applicable, shall include statements to the effect that the securities have not been
    registered under the 1933 Act and may not be offered or sold in the United States or to U.S. persons (other than distributors)
    unless the securities are registered under the 1933 Act, or an exemption from the registration requirements of the 1933 Act
    is available. 
	 	 	 	 
	 	 	(vi)	No
    form of “directed selling efforts” (as defined in Rule 902 of Regulation S under the 1933 Act), general solicitation
    or general advertising in violation of the 1933 Act has been or will be used nor will any offers by means of any directed
    selling efforts in the United States be made by the Purchaser or any of their representatives in connection with the offer
    and sale of the Purchased Shares.

 

	 	 	(d)	General
    Solicitation. Such Purchaser is not purchasing the Shares as a result of any advertisement, article, notice or other communication
    regarding the Shares published in any newspaper, magazine or similar media or broadcast over television or radio or presented
    at any seminar or any other general solicitation or general advertisement.

 

    	 

    	 

    

 

	 	 	(e)	Access
    to Information. Such Purchaser acknowledges that it has reviewed the disclosure materials and has been afforded (i) the
    opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the Company
    concerning the terms and conditions of the offering of the Shares and the merits and risks of investing in the Shares; (ii)
    access to information about the Company and the Subsidiaries and their respective financial condition, results of operations,
    business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity
    to obtain such additional information that the Company possesses or can acquire without unreasonable effort or expense that
    is necessary to make an informed investment decision with respect to the investment. Neither such inquiries nor any other
    investigation conducted by or on behalf of such Purchaser or its representatives or counsel shall modify, amend or affect
    such Purchaser’s right to rely on the truth, accuracy and completeness of the Disclosure Materials and the Company’s
    representations and warranties contained in the Transaction Documents.
	 	 	 	 
	 	 	(f)	Independent
    Investment Decision. Such Purchaser has independently evaluated the merits of its decision to purchase the Shares pursuant
    to the Agreement, and such Purchaser confirms that it has not relied on the advice of any other Purchaser’s business
    and/or legal counsel in making such decision. Such Purchaser has not relied on the business or legal advice of the Company
    or any of its agents, counsel or Affiliates in making its investment decision hereunder, and confirms that none of such Persons
    has made any representations or warranties to such Purchaser in connection with the transactions contemplated by the Transaction
    Documents.

 

	 	5.	Miscellaneous

 

	 	(a)	Confidentiality.
    The Purchaser covenants and agrees that it will keep confidential and will not disclose or divulge any confidential or
    proprietary information that such Purchaser may obtain from the Company pursuant to financial statements, reports, and other
    materials submitted by the Company to such Purchaser in connection with this offering or as a result of discussions with or
    inquiry made to the Company, unless such information is known, or until such information becomes known, to the public through
    no action by the Purchaser; provided, however, that a Purchaser may disclose such information (i) to its attorneys, accountants,
    consultants, and other professionals to the extent necessary in connection with his or her investment in the Company so long
    as any such professional to whom such information is disclosed is made aware of the Purchaser’s obligations hereunder
    and such professional agrees to be likewise bound as though such professional were a party hereto, (ii) if such information
    becomes generally available to the public through no fault of the Purchaser, or (iii) if such disclosure is required by applicable
    law or judicial order.
	 	 	 
	 	(b)	Successors.
    The covenants, representations and warranties contained in this Agreement shall be binding on the Purchaser’s and
    the Company’s heirs and legal representatives and shall inure to the benefit of the respective successors and assigns
    of the Company. The rights and obligations of this Subscription Agreement may not be assigned by any party without the prior
    written consent of the other party.

 

    	 

    	 

    

 

	 	(c)	Counterparts.
    This Agreement may be executed in counterparts, each of which shall be deemed an original agreement, but all of which
    together shall constitute one and the same instrument. 
	 	 	 
	 	(d)	Execution
    by Facsimile. Execution and delivery of this Agreement by facsimile transmission (including the delivery of documents
    in Adobe PDF format) shall constitute execution and delivery of this Agreement for all purposes, with the same force and effect
    as execution and delivery of an original manually signed copy hereof.
	 	 	 
	 	(e)	Governing
    Law and Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada
    applicable to contracts to be wholly performed within such state and without regard to conflicts of laws provisions. Any legal
    action or proceeding arising out of or relating to this Subscription Agreement and/or the Offering Documents may be instituted
    in the courts of the State of Nevada sitting in Nevada, and the parties hereto irrevocably submit to the jurisdiction of each
    such court in any action or proceeding. Purchaser hereby irrevocably waives and agrees not to assert, by way of motion, as
    a defense, or otherwise, in every suit, action or other proceeding arising out of or based on this Subscription Agreement
    and/or the Offering Documents and brought in any such court, any claim that Purchaser is not subject personally to the jurisdiction
    of the above named courts, that Purchaser’s property is exempt or immune from attachment or execution, that the suit,
    action or proceeding is brought in an inconvenient forum or that the venue of the suit, action or proceeding is improper.
	 	 	 
	 	(f)	Notices.
    All notices, requests, demands, claims and other communications hereunder shall be in writing and shall be delivered by
    certified or registered mail (first class postage pre-paid), guaranteed overnight delivery, or facsimile transmission if such
    transmission is confirmed by delivery by certified or registered mail (first class postage pre-paid) or guaranteed overnight
    delivery, to the following addresses and facsimile numbers (or to such other addresses or facsimile numbers which such party
    shall subsequently designate in writing to the other party):

 

	 	 	(i)	if
    to the Company:	 
	 	 	 	 	 
	 	 	 	Rito
    Group Corp.	 
	 	 	 	Attn:
    Choi Tak Yin Addy	 
	 	 	 	Room
    6C, 4/F, Block C	 
	 	 	 	Hong
    Kong Industrial Centre, 	 
	 	 	 	489
    Castle Peak Road, Lai Chi Kok, 	 
	 	 	 	Hong
    Kong	 
	 	 	 	 	 
	 	 	(ii)	if
    to the Purchasers: 	 
	 	 	 	 	 
	 	 	 	To
    the addresses set forth on the signature pages.	 

 

    	 

    	 

    

 

	 	(g)
    	Entire
    Agreement. This Agreement (including the Exhibits attached hereto) and other Transaction Documents delivered at the Closing
    pursuant hereto, contain the entire understanding of the parties in respect of its subject matter and supersede all prior
    agreements and understandings between or among the parties with respect to such subject matter. The Exhibits constitute a
    part hereof as though set forth in full above.
	 	 	 
	 	(h)
    	Amendment;
    Waiver. This Agreement may not be modified, amended, supplemented, canceled or discharged, except by written instrument
    executed by the Company and the Purchasers of not less than a majority of the principal amount of the subscription. No failure
    to exercise, and no delay in exercising, any right, power or privilege under this Agreement shall operate as a waiver, nor
    shall any single or partial exercise of any right, power or privilege hereunder preclude the exercise of any other right,
    power or privilege. No waiver of any breach of any provision shall be deemed to be a waiver of any proceeding or succeeding
    breach of the same or any other provision, nor shall any waiver be implied from any course of dealing between the parties.
    No extension of time for performance of any obligations or other acts hereunder or under any other agreement shall be deemed
    to be an extension of the time for performance of any other obligations or any other acts. The rights and remedies of the
    parties under this Agreement are in addition to all other rights and remedies, at law or equity, that they may have against
    each other.
	 	 	 
	 	(i)	Severability.
    If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity and enforceability
    of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties
    will attempt to agree upon a valid and enforceable provision that is a reasonable substitute therefore, and upon so agreeing,
    shall incorporate such substitute provision in this Agreement.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written.

 

	COMPANY:
    	Rito
    Group Corp.
	 	 
	 	By:	/s/
    CHOI TAK YIN ADDY
	 	Name:	Choi
    Tak Yin Addy
	 	Title:	Director,
    CEO

 

	PURCHASER:
    	 
	 	Name:	[Name
    of Investor]

	 	Purchase
    Price: $[Total subscription amount]
	 	Number
    of Shares: [Number of Shares]
	 	 
	 	Address:
    [Address of Investor]

 

	 	Telephone
    & Email:
	 	[Telephone
    & Email of Investor]

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