Document:

Filed by sedaredgar.com - News of China Inc. - Exhibit 10.1

THE SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN
OFFSHORE TRANSACTION TO A PERSON WHO IS NOT A U.S. PERSON (AS DEFINED HEREIN)
PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “1933 ACT”). 

NONE OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN
REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO
REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED
STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS 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. “UNITED STATES” AND “U.S.
PERSON” ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT. 

PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT 
FOR NON U.S.
SUBSCRIBERS

NEWS OF CHINA INC.

PRIVATE PLACEMENT OF COMMON STOCK

INSTRUCTIONS TO SUBSCRIBER:

	1. 	
      COMPLETE the information on page 10 of this
      Subscription Agreement.

	 	 
	2. 	
      DELIVER the Subscription Proceeds to the
      President, Chenxi Shi, at the address of the Company set out
  below.

	 	 
	3. 	
      COURIER the originally executed copy of the entire
      Subscription Agreement to the President, at:

NEWS OF CHINA INC.
1855 Talleyrand, Suite 203A

Brossard, Quebec J4W 2Y9 
Canada

THE SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN
OFFSHORE TRANSACTION TO A PERSON WHO IS NOT A U.S. PERSON (AS DEFINED HEREIN)
PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “1933 ACT”).

NONE OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN
REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO
REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED
STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS 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. “UNITED STATES” AND “U.S.
PERSON” ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT. 

PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT
(Non U.S.
Subscribers Only)

	TO: 	NEWS OF CHINA INC. (the “Company”)

	  	1855 Talleyrand, Suite 203A 
	  	Brossard, Quebec J4W 2Y9 
	  	Canada 

Purchase of Shares

1. Subscription

1.1 The undersigned (the “Subscriber”) hereby irrevocably
subscribes for and agrees to purchase the number of shares of the Company’s
common stock (the “Shares”) as set out on page 10 of this Subscription Agreement
at a price of US$0.005 per Share (such subscription and agreement to purchase
being the “Subscription Agreement”), for the total subscription price as set out
on page 10 of this Subscription Agreement (the “Subscription Proceeds”), which
Subscription Proceeds are tendered herewith, on the basis of the representations
and warranties and subject to the terms and conditions set forth herein.

1.2 The Company hereby agrees to sell, on the basis of the
representations and warranties and subject to the terms and conditions set forth
herein, to the Subscriber the Shares. Subject to the terms hereof, the
Subscription Agreement will be effective upon its acceptance by the Company.

1.3 Unless otherwise provided, all dollar amounts referred to
in this Subscription Agreement are in lawful money of the United States of
America.

2. Payment

2.1 The Subscription Proceeds must accompany this Subscription
Agreement and shall be sent directly to the Company.

2.2 Where the Subscription Proceeds are paid to the Company,
the Company may treat the Subscription Proceeds as a non-interest bearing loan
and may use the Subscription Proceeds prior to this subscription being accepted
by the Company.

- 2 -

3. Documents Required from Subscriber

3.1 The Subscriber must complete, sign and return to the
Company one (1) 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 laws.

4. Closing

4.1 Closing of the purchase and sale of the Shares shall occur
on such date as may be determined by the Company in its sole discretion (the
“Closing Date”). The Subscriber acknowledges that Shares may be issued to other
subscribers under this offering (the “Offering”) before or after the Closing
Date.

4.2 The Subscriber acknowledges that the certificates
representing the Shares will be available for delivery upon Closing provided
that the Subscriber has satisfied the requirements of Section 2.1 and Section 3
hereof and the Company has accepted this Subscription Agreement.

5. Acknowledgements of Subscriber

5.1 The Subscriber acknowledges and agrees that:

	 	(a) 	
      the Shares have not been registered under the Securities
      Act of 1933, as amended (the “1933 Act”), or under any state securities or
      “blue sky” laws of any state of the United States, and are being offered
      only in a transaction not involving any public offering within the meaning
      of the 1933 Act, and, unless so registered, may not 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 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) 	
      the Company has not undertaken, and will have no
      obligation, to register any of the Shares under the 1933 Act;

	 	 	 
	 	(c) 	
      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, or in a transaction not subject
      to, the registration requirements of the 1933 Act;

	 	 	 
	 	(d) 	
      the Subscriber and the Subscriber’s advisor(s) have had a
      reasonable opportunity to ask questions of and receive answers from the
      Company regarding the Offering;

	 	 	 
	 	(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
      pertaining to this Offering have been made available for inspection by the
      Subscriber, the Subscriber’s lawyer and/or advisor(s);

	 	 	 
	 	(f) 	
      by execution hereof the Subscriber has waived the need
      for the Company to communicate its acceptance of the purchase of the
      Shares pursuant to this Subscription Agreement;

	 	 	 
	 	(g) 	
      the Company is entitled to rely on the representations
      and warranties and the statements and answers of the Subscriber contained
      in this Subscription Agreement, and the Subscriber will
  hold

- 3 -

	 		
      harmless the Company from any loss or damage it 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 acknowledgment,
      representation or warranty of the Subscriber contained herein, or in any
      other 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 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;

	 	 	 
	 	(j) 	
      that resale of any of the Shares in Canada is restricted
      except pursuant to an exemption from applicable securities
    legislation;

	 	 	 
	 	(k) 	
      the Subscriber 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;

	 	 	 
	 	(l) 	
      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;

	 	 	 
	 	(m) 	
      the Subscriber understands and agrees that offers and
      sales of any of the Shares prior to the expiration of the period specified
      in Regulation S (such 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
      securities laws;

	 	 	 
	 	(n) 	
      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 or any applicable state securities laws;

	 	 	 
	 	(o) 	
      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 the Subscriber is solely responsible (and the
      Company is not in any way responsible) for compliance with applicable
      resale restrictions;

	 	 	 
	 	(p) 	
      the Company has advised the Subscriber that the Company
      is relying on an exemption from the requirements to provide the Subscriber
      with a prospectus to sell the Shares and, as a
  consequence

- 4 -

	 		
      of acquiring the Shares pursuant to such exemption
      certain protections, rights and remedies provided by the applicable
      securities legislation will not be available to the Subscriber;

	 	 	 
	 	(q) 	
      the Shares are not listed on any stock exchange or
      automated dealer quotation system, except that the Company’s common stock
      is currently quoted on the Financial Industry Regulatory Authority’s
      Over-the-Counter Bulletin Board, 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;

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

	 	 	 
	 	(s) 	
      no documents in connection with this Offering have been
      reviewed by the SEC or any state securities administrators;

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

	 	 	 
	 	(u) 	
      this Subscription Agreement is not enforceable by the
      Subscriber unless it has been accepted by the Company, and the Subscriber
      acknowledges and agrees that the Company reserves the right to reject any
      Subscription Agreement for any reason.

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 Date) 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 on
      page 10 of this Subscription Agreement;

	 	 	 
	 	(d) 	
      the issuance of the Shares to the Subscriber as
      contemplated by the delivery of this Subscription Agreement, the
      acceptance of it by the Company and the issuance of the Shares to the
      Subscriber complies with all applicable laws of the Subscriber’s
      jurisdiction of residence or domicile and will not cause the Company to
      become subject to or comply with any disclosure, prospectus or reporting
      requirements under any such applicable laws;

	 	 	 
	 	(e) 	
      the Subscriber:

	 	(i) 	
      is knowledgeable of, or has been independently advised as
      to, the applicable securities laws of the securities regulators having
      application in the jurisdiction in which the Subscriber is resident (the
      “International Jurisdiction”) which would apply to the acquisition of the
      Shares,

	 	 	 
	 	(ii) 	
      is purchasing the Shares pursuant to exemptions from
      prospectus or equivalent requirements under applicable securities laws or,
      if such is not applicable, the Subscriber is permitted to purchase the
      Shares under the applicable securities laws of the securities regulators
      in the International Jurisdiction without the need to rely on any
      exemptions,

	 	 	 
	 	(iii) 	
      acknowledges that the applicable securities laws of the
      authorities in the International Jurisdiction do not require the Company
      to make any filings or seek any approvals of any kind whatsoever from any
      securities regulator of any kind whatsoever in the International
      Jurisdiction in connection with the issue and sale or resale of the
      Shares, and

- 5 -

	 	(iv) 	
      represents and warrants that the acquisition of the
      Shares by the Subscriber does not trigger:

	 	 	 	 
	 		A. 	
      any obligation to prepare and file a prospectus or
      similar document, or any other report with respect to such purchase in the
      International Jurisdiction, or

	 	 	 	 
	 		B. 	
      any continuous disclosure reporting obligation of the
      Company in the International Jurisdiction, and

	 	 	 	 
	 			
      the Subscriber will, if requested by the Company, deliver
      to the Company a certificate or opinion of local counsel from the
      International Jurisdiction which will confirm the matters referred to in
      subparagraphs (ii), (iii) and (iv) above to the satisfaction of the
      Company, acting reasonably;

	 	(f) 	
      the Subscriber is acquiring the Shares as principal for
      investment only and not with a view to, or for, resale, distribution or
      fractionalization thereof, in whole or in part, and, in particular, it has
      no intention to distribute either directly or indirectly any of the Shares
      in the United States or to U.S. Persons;

	 	 	 
	 	(g) 	
      the Subscriber is outside the United States when
      receiving and executing this Subscription Agreement;

	 	 	 
	 	(h) 	
      the Subscriber has received and carefully read this
      Subscription Agreement;

	 	 	 
	 	(i) 	
      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;

	 	 	 
	 	(j) 	
      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;

	 	 	 
	 	(k) 	
      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;

	 	 	 
	 	(l) 	
      the Subscriber (i) has adequate net worth and means of
      providing for the Subscriber’s 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, and can afford the complete loss
      of such investment;

	 	 	 
	 	(m) 	
      the Subscriber has the requisite knowledge and experience
      in financial and business matters as to be capable of evaluating the
      merits and risks of the investment in the Shares and the Company, and the
      Subscriber is providing evidence of knowledge and experience in these
      matters through the information contained in this Subscription
      Agreement;

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

- 6 -

	 	(o) 	
      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, if applicable, 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;

	 	 	 
	 	(p) 	
      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;

	 	 	 
	 	(q) 	
      all information contained in this Subscription Agreement
      is complete and accurate and may be relied upon by the Company, and the
      Subscriber will notify the Company immediately of any material change in
      any such information occurring prior to the Closing Date;

	 	 	 
	 	(r) 	
      the Subscriber understands and agrees that offers and
      sales of any of the Shares prior to the expiration of the period specified
      in Regulation S (such 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;

	 	 	 
	 	(s) 	
      the Subscriber is purchasing the Shares 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 others, and no
      other person has a direct or indirect beneficial interest is such Shares,
      and the Subscriber has not subdivided his interest in the Shares with any
      other person;

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

	 	 	 
	 	(u) 	
      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 the Subscriber’s legal and financial advisors
      and agrees that the Company will not be responsible in anyway whatsoever
      for the Subscriber’s decision to invest in the Shares and the
    Company;

	 	 	 
	 	(v) 	
      if the Subscriber is acquiring the Shares as a fiduciary
      or agent for one or more investor accounts, the Subscriber has sole
      investment discretion with respect to each such account, and the
      Subscriber has full power to make the foregoing acknowledgements,
      representations and agreements on behalf of such account;

	 	 	 
	 	(w) 	
      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;

	 	 	 
	 	(x) 	
      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

- 7 -

of the Shares of the Company on any
stock exchange or automated dealer quotation system, except that the Company’s
common stock is currently quoted on the Financial Industry Regulatory
Authority’s Over-the-Counter Bulletin Board. 

6.2 In this Subscription Agreement, the term “U.S. Person”
shall have the meaning ascribed thereto in Regulation S promulgated under the
1933 Act and for the purpose of the Subscription Agreement includes any person
in the United States.

7. Waiver

7.1 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 any of the Shares.

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

8.1 The Subscriber acknowledges that the acknowledgements,
representations and warranties contained herein are made by the Subscriber with
the intention that they 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 the Subscriber 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, the Subscriber
will be representing and warranting that the acknowledgements representations
and warranties contained herein are true and correct as of the date hereof and
will continue in full force and effect notwithstanding any subsequent
disposition by the Subscriber of such Shares.

9. Resale Restrictions

9.1 The Subscriber acknowledges that any resale of the Shares
will be subject to resale restrictions contained in the securities legislation
applicable to the Subscriber or proposed transferee. The Subscriber acknowledges
that the Shares have not been registered under the 1933 Act or 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 federal securities laws
and all applicable state securities laws or exemptions from such registration
requirements are available.

10. Legending and Registration of Subject
Shares

10.1 The Subscriber hereby acknowledges 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:

THE SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN
OFFSHORE TRANSACTION TO A PERSON WHO IS NOT A U.S. PERSON (AS DEFINED HEREIN)
PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “1933 ACT”).

  NONE OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED
    UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED,
    MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (AS
    DEFINED HEREIN) OR TO U.S. PERSONS 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 

- 8 -

  CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT. “UNITED
    STATES” AND “U.S. PERSON” ARE AS DEFINED BY REGULATION S UNDER
    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.

12. Governing Law

12.1 This Subscription Agreement is exclusively governed by the
laws of the State of Delaware. The Subscriber, in the Subscriber’s personal or
corporate capacity and, if applicable, on behalf of each beneficial purchaser
for whom the Subscriber is acting, irrevocably attorns to the exclusive
jurisdiction of the courts of the State of Delaware.

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, warranties, or covenants, 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 page 10 and notices to the Company shall be directed
to it at the first page of this Subscription Agreement.

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 

- 9 -

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. Language

19.1 The Subscriber acknowledges that the Subscriber has
consented to and requested that all documents evidencing or relating in any way
to the sale of the Shares be drawn up in the English language only.

- 10 -

IN WITNESS WHEREOF the Subscriber has duly executed this
Subscription Agreement as of the date hereinafter set forth.

DELIVERY AND REGISTRATION INSTRUCTIONS

	1. 	
      Delivery - please deliver the Share certificates
    to:

	 	 
	 	 
	 	 
	 	 
	2. 	
      Registration - registration of the Share certificates
      which are to be delivered at Closing should be made as follows:

	 	 
		
      (name)

	 	 
		
      (address)

	 	 
	3. 	
      The undersigned hereby acknowledges that he or she will
      deliver to the Company all such additional completed forms in respect of
      the Subscriber’s purchase of the Shares as may be required for filing with
      the appropriate securities commissions and regulatory
  authorities.

	 	 
	 	(Name of Subscriber – Please type or print)
  
	 	 
	 	(Signature and, if applicable, Office) 
	 	 
	 	(Address of Subscriber) 
	 	 
	 	(City, State and Postal Code of Subscriber)
  
	 	 
	 	(Country of Subscriber) 
	 	 
	 	(Fax Number) 
	 	 
	 	10,000,000 
	 	(Number of Shares to be Purchased) 
	 	 
	 	US$50,000 
	 	(Total Subscription Price)

- 11 -

A C C E P T A N C E

The above-mentioned Subscription Agreement in respect of the
Shares is hereby accepted by NEWS OF CHINA INC.

DATED at ______________________________, the _____ day of
__________________, 2009.

NEWS OF CHINA INC.

	Per: 		 
	 	Authorized SignatoryFiled by sedaredgar.com - Anavex Life Sciences Corp. - Exhibit 10.1

1st AMENDMENT

CONSULTING AGREEMENT

     THIS AMENDED CONSULTING
AGREEMENT (the “Agreement”) is made as of the 14th day of MAY, 2009 (the
“Effective Date”).

BETWEEN:

ANAVEX LIFE SCIENCES CORP.

A Nevada State Corporation with an office at 14, Rue Kleberg CH-1201
Geneva Switzerland.

(hereinafter the “Company”) OF THE
FIRST PART

AND

CAMERON DURRANT
An
individual residing at #90 Fairmount Road West, Califon, NJ 07830-3330, USA 

(Hereinafter the “Consultant”). OF THE
SECOND PART

W I T N E S S E T H:

     WHEREAS the Company and the
Consultant entered into an Agreement dated May 20, 2008 and desire to amend the
terms of the Agreement

     WHEREAS the Consultant has
developed considerable expertise in the field of Corporate and Strategic
Business Development.

     AND WHEREAS Consultant
wishes to perform such services among others for and on behalf of the Company
and the Company desires to obtain and apply the expertise of the Consultant to
the Business of the Company.

     NOW THEREFORE THIS AGREEMENT
WITNESSES that for good and valuable consideration (the receipt of which is
hereby acknowledged by each of the parties hereto) the parties make the
arrangements and acknowledgements hereinafter set forth:

	1.0 	Consulting Services 
	  	  
	
      The Company hereby retains the services of the Consultant
      and the Consultant hereby agrees to provide the consulting services (the
      “Services”) to the Company described in this Agreement, by providing such
      Services to benefit the Company and its determination and implementation
      of the Company's plans for its Business. 

	  	  
	2.0 	Term 

- 2 -

	 	2.1 	
      The term of this Agreement shall be for a period of two
      (2) years, commencing on the 30th day of April, 2008 and,
      subject to the termination provisions contained herein, shall terminate on
      the 1st day of May, 2010. This Agreement may be renewed for such
      subsequent term and with such amendments as may be mutually agreed to in
      writing from time to time by the Company and the Consultant.
  

	3.0 	
      Consultant’s Obligations

	 	 	 	 
		3.1 	
      The Consultant agrees that during the term of this
      Agreement, he shall:

	 	 	 	 
			a) 	
      provide such of the Consulting Services to the Company in
      the manner as the Company and the consultant may reasonably agree from
      time to time in writing;

	 	 	 	 
			b) 	
      use such of his effort, skill, attention and resources to
      properly render the Consulting Services to the company;

	 	 	 	 
			c) 	
      subject to the terms herein, provide materials relating
      to the Company’s business to persons requesting information about the
      Company in a manner consistent with the provisions of the Consulting
      Services;

	 	 	 	 
			d) 	
      Provide the Consulting Services on a basis which does not
      impair the activities and business interests of the Company;

	 	 	 	 
			e) 	
      Perform the Consulting Services in accordance with all
      applicable laws, including but not limited to, applicable securities rules
      and regulations and the rules and policies of any stock exchange or stock
      quotation service on which the Company’s securities are traded or
      quoted.

	 	 	 	 
		3.2 	
      The Company acknowledges that it is aware the Consultant
      has outside business activities, duties and financial interests. The
      Company agrees that the performance by the Consultant of such activities
      and duties and involvement in such financial interest shall not be
      construed as a conflict of interest of the Consultant’s obligations set
      out in this Agreement.

	 	 	 	 
		3.3 	
      In the course of providing the Consulting Services
      hereunder, the Consultant shall be entitled to rely upon information
      received from the Company, and will so disclose this fact in all
      communications.

	 	 	 	 
	4.0 	
      Company’s Obligations

	 	 	 	 
		4.1 	
      The Company hereby agrees that during the term of this
      Agreement is shall provide, at the expense of the Company, the Consultant
      with such information, resources, financial record, document, product
      information and materials relating to the Company’s business as reasonably
      requested from time to time by the Consultant, and which the Company is
      willing to disclose and provide, in order for the Consultant to provide
      the Consulting Services in the manner contemplated by this
    Agreement.

	 	 	 	 
	5.0 	
      Compensation

	 	 	 	 
		5.1 	
      In full consideration of the Consultant's Services
      hereunder, the Company agrees to compensate the Consultant as
follows:

- 3 -

	 	a) 	
      Issue 400,000 common stock options of the Company at an
      exercise price of $2.50 per share. 200,000 options will vest upon
      execution of the Amended Agreement with the remaining 200,000 options
      vesting as to 50,000 on August 14, 2009, 50,000 options on November 14,
      2009, 50,000 options on February 14, 2010, and 50,000 options on May 14,
      2010.

	 	 	 
	 	b) 	
      Issue 400,000 common stock options of the Company at an
      exercise price of $5.25 per share, vesting quarterly at 100,000 per
      quarter, with a term of three (3) years.

	 	 	 
	 	c) 	
      Pay the Consultant a 4% finders bonus on up to the first
      $100 million and a 2% finders bonus on any amounts that exceed $100
      million of any funding (joint-venture, licensing, and/or drug development
      funding) secured from non-investment banking enterprises as a direct
      result of introduction and closing by the Consultant. Payment due upon
      receipt of cash milestone payments to the
Company.

	6.0 	
      Consideration

	 	 	 
		6.1 	
      In the event of 7.1 or 7.2 as below the Consultant shall
      have sixty (60) days to

	 	 	 
		
      exercise any vested options. Any options not exercised
      within sixty (60) days shall become void and of no further effect. All
      non-vested options and unearned shares at the time of termination or death
      shall become immediately void and of no further effect. All vested options
      will transfer to Consultants wife or other remaining family members upon
      Consultants’ death if within term of this Agreement.

	 	 	 
	7.0 	
      Termination

	 	 	 
		7.1 	
      Either party may at any time after the commencement date
      of this Agreement, terminate this Agreement by providing the other party
      with at least thirty (30) days written notice.

	 	 	 
		7.2 	
      Either party may terminate this Agreement at any time
      with thirty (30) days notice to the other party if the other party becomes
      insolvent or commences proceedings or any proceedings are commenced
      against it under any bankruptcy, insolvency or creditor protector
      legislation or the other party does not remedy any breach of this
      Agreement within the time period allowed for in writing for the remedy of
      any such breach.

	 	 	 
		7.3 	
      Upon termination of this Agreement, Consultant shall
      return to the Company all material that is the property of the
    Company.

	 	 	 
	8.0 	
      General Terms

	 	 	 
		8.1 	
      Any notice required or permitted to be given hereunder
      shall be given by hand delivery, facsimile transmission or by registered
      mail, postage prepaid, addressed to the parties at their respective
      addresses as set forth in this Agreement and any such notices given by
      hand delivery or by facsimile transmission shall be deemed to have been
      received on the date of delivery of transmission. Confirmed opening and
      receipt of email shall be deemed to be
equivalent.

- 4 -

	 	8.2 	
      The provisions of this Agreement shall insure to the
      benefit of and be binding upon the Company and the Consultant and their
      respective successors and assigns. This Agreement shall not be assignable
      by either party without the prior written consent of the other
    party.

	 	 	 
	 	8.3 	
      This Agreement constitutes the entire agreement between
      the parties hereto pertaining to the subject matter hereof and supersedes
      all prior and contemporaneous agreements, understanding, negotiations and
      discussions, whether oral or written of the parties hereto in connection
      with the subject matter hereof. No supplement, modification, waiver or
      termination of this Agreement shall be binding, unless executed in writing
      by the parties to be bound thereby.

	9.0 	Issued Stock 
	  	  
	
      All stock issued to the Consultant under the terms of the
      original Agreement will be returned to the Company and returned to
      treasury. 

     IN WITNESS WHEREOF, each
of the parties hereto has executed as of the date first herein above
written.

COMPANY:

Anavex Life Sciences Corp.

	By: 	“Harvey Lalach” 
	 	Harvey Lalach 
	 	President 
	 	  
	 	  
	CONSULTANT: 
	 	  
	 	  
	By: 	“Cameron Durrant” 
	 	
      Cameron Durrant

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