Document:

Exhibit 10.1 Minerals Claims Purchase Agreement

EXHIBIT 10.1

 

Mineral Claims Purchase Agreement

MINERAL CLAIMS PURCHASE AGREEMENT

THIS MINERAL CLAIMS PURCHASE AGREEMENT (this “Agreement”) is dated for effect as of April 4, 2013

BETWEEN:

New York Tutor Company, a Nevada corporation ("Purchaser");

AND:

Guerrero Exploration Inc., an Alberta corporation ("Guerrero" or the "Vendor")

WHEREAS:

A.

Guerrero, through its wholly owned local subsidiaries, is the beneficial owner of the --- unpatented mineral claims (the "Property") located in Botswana, as more particularly described in Schedule "A" hereto; and

B.

Guerrero has agreed to sell to the Purchaser and the Purchaser has agreed to purchase from Guerrero all of the rights, title and interest of Guerrero in and to the Property as herein provided.

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency whereof is hereby acknowledged by the parties, the parties agree as follows:

1.0

DEFINITIONS

1.1

In this Agreement, except as otherwise expressly provided or as the context otherwise requires:

"Agreement" means this Agreement, including the Schedules hereto, as amended or supplemented from time to time.

"Property" means the mineral claims described in Schedule "A", and all mining leases and other mining interests derived from any such claims, and a reference herein to mineral claims comprised in the Property includes any mineral leases or other interests into which such mineral claim may have been converted.

1.2

The headings are for convenience only and are not intended as a guide to interpretation of this Agreement or any portion thereof.

1.3

The word "including", when following any general statement or term, is not to be construed as limiting the general statement or term to the specific items or matters set forth or to similar items or matters, but rather as permitting the general statement or term to refer to all other items or matters that could reasonably fall within its broadest possible scope.

1.4

All accounting terms not otherwise defined herein have the meanings assigned to them, and all calculations to be made hereunder are to be made, in accordance with U.S. generally accepted accounting principles applied on a consistent basis.

1.5

In this Agreement, except as otherwise specified, all references to currency mean U.S. currency.

1.6

A reference to a statute includes all regulations made thereunder, all amendments to the statute or regulations in force from time to time, and any statute or regulation that supplements or supersedes such statute or regulations.

1.7

A reference to an entity includes any successor to that entity.

1.8

A reference to "approval", "authorization" or "consent" means written approval, authorization or consent.

2.0

REPRESENTATIONS AND WARRANTIES OF THE PURCHASER

2.1

The Vendor represents and warrants to the Purchaser that:

(a)

it is the beneficial owner of the Property;

(b)

Vendor and its subsidiaries are validly existing and in good standing in the jurisdictions of their incorporation and all jurisdictions in which they do business  and are lawfully qualified to hold the beneficial interest in the Property in Botswana;

(c)

the Vendor has full power and authority for the execution of this Agreement and for the performance of this Agreement by it, and the consummation of the transaction herein contemplated and, subject to approval from the Botswana government, does not require any third party consents, will not conflict with or result in any breach of any covenants or agreements contained in, violate the rights of any third party, or constitute a default under, or result in the creation of any encumbrance under the provisions of any indenture, agreement or other instrument whatsoever to which the Vendor is a party or by which it is bound or to which it may be subject; 

(d)

to the best of the Vendor's knowledge, there is no outstanding directive or order or similar notice issued by any regulatory agency, including agencies responsible for environmental matters, affecting the Property or the Vendor, including its subsidiaries nor is there any reason to believe that such an order, directive or similar notice is pending; 

(e)

the mineral claims comprised in the Property have been duly and validly located and recorded pursuant to the laws of the jurisdiction in which the property is situate and are in good standing with respect to all filings, fees, taxes, assessments, work commitments or other conditions on the date hereof, provided that the Purchaser acknowledges that the 3 claims identified on Schedule A as the Bonnyridge Licenses, expiring September 30, 2012 are in for renewal with the Botswana government agency, and there is no assurance that they will be renewed or if they are renewed, what acreage they will cover, and the same process will apply to all other claims by September 30, 2013, and that the Vendor shall not be liable for any such diminishment or cancellation; 

(f)

there is no adverse claim or challenge against or to the ownership of or title to any of the mineral claims comprising the Property, nor to the knowledge of the Vendor, is there any basis therefore, and there are no outstanding agreements or options to acquire or purchase the Property or any portion thereof, and no person other than the government of Botswana, has any royalty or other interest whatsoever in production from any of the mineral claims comprising the Property; and this Agreement will, on the Closing , be a legal, valid and binding obligation of Guerrero, enforceable against Guerrero in accordance with its terms.

2.2

The representations and warranties contained in Section 2.1 are provided for the exclusive benefit of the Purchaser and a breach of any one or more thereof may be waived by the Purchaser in whole or in part at any time without prejudice to it rights in respect of any other breach of the same or any other representation or warranty; and the representations and warranties contained in Section 2 will survive the execution hereof.

3.0

ACQUISITION OF PROPERTY TERMS

3.1

The Vendor hereby grants and transfers to the Purchaser all of its right, title and  interest in and to the Property free and clear of all liens, charges, encumbrances and claims, subject to and on the condition that the Purchaser shall fulfill the requirements as set out in Section 3.2, and the successful transfer of the Property as set out in Section 3.4.

3.2

The Purchaser, or its nominee shall pay to Guerrero aggregate consideration of US$850,000 as follows:  a) an amount of $500,000 in cash, b) assumption of trade payables of US$200,000 of Pinette Pty and Bonnyridge Pty (wholly owned subsidiaries of Guerrero), and  c) assumption of up to US$150,000 for geological consulting fees incurred on the exploration work programs on the Property to cover monies owed by Pinette Pty and Bonnyridge Pty to Luc Antoine through his company, Aspire Investments (the “Aggregate Purchase Price”).  

3.3

A non-refundable cash deposit in the amount of US$80,600 is acknowledged by the Vendor and Purchaser  as paid as at the date of this Agreement and forms a non-refundable advance on, and deduction to, the $500,000 cash amounts due to the Vendor by the Purchaser outlined in Section 3.2 a).

   

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3.4

The balance of the Aggregate Purchase Price shall be paid by the Vendor to the Purchaser upon receipt of registerable claim transfer documentation (the "Closing") as accepted by the Botswana government.  The balance of the purchase price will be paid by the Purchaser upon the successful registration and consent of the Botswana minerals registration authority of the transfer documentation, which the Purchaser undertakes to effect as soon as possible but in any event within 180 days of the execution hereof. 

4.0

SUBJECT CONDITIONS

4.1

When the requirements under Section 3 are met, a 100% interest in the Property, subject to the provisions of this Agreement, shall vest to the Purchaser free and clear of all liens, charges, encumbrances and claims, with no royalty interest of any kind other than any royalties that the government of Botswana may impose.

5.0

TRANSFERS

5.1

The Purchaser may at any time, sell, transfer, or otherwise dispose of all or any portion of its rights and/or interest in and to the Property and this Agreement providing that the sale, transfer or disposition recognizes and adheres to the provisions of this Agreement. 

5.2

 If the Purchaser decides to let the unpatented claims comprising the Property lapse, it will provide 30 days written notice of such to the Vendor.

6.0

CONFIDENTIAL INFORMATION

6.1

No information furnished by the Purchaser to the Vendor hereunder in respect of the sale of product derived from the Property, will be disclosed or published by the Vendor without the written consent of the Purchaser, but such consent in respect of the reporting of factual data will not be unreasonably withheld, and will not be withheld in respect of information required to be publicly disclosed pursuant to applicable securities or corporation laws.  This provision shall not apply to information which becomes part of the public domain provided that it does not become part of the public domain by the actions of a party hereto in contravention of its obligation to keep such information confidential.

6.2

Nothing in this Section shall prevent a party from disclosing information to a third party for purposes of corporate reorganization, financing, review of materials, data and results by a consultant and like matters provided that such third party agrees to be bound by these provisions of confidentiality.

7.0

NOTICES

7.1

Each notice, demand or other communication required or permitted to be given under this Agreement will be in writing and will be sent by prepaid registered mail deposited in a post office addressed to the party entitled to receive the same, or delivered to such party, at the address for such party specified or by facsimile, in each case addressed as applicable as follows:  

If to the Purchaser at:

Attention:  Andrew Stone, President

New York Tutor Co.

845 3rd Avenue, Sixth Floor

New York, NY USA  10022

(a)

If to the Vendor at:

Attention: Bill Thomas, CFO 

Guerrero Exploration Inc.

Suite 1220 – 666 Burrard Street,

Vancouver, B.C.,  Canada  V6C 2X8

or to such other address as is specified by the particular party by notice to the others.

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7.2

The date of receipt of such notice, demand or other communication will be the date of delivery thereof if delivered or the date of sending it by facsimile, or, if given by registered mail as aforesaid, will be deemed conclusively to be the third day after the same will have been so mailed except in the case of interruption of postal services for any reason whatever, in which case the date of receipt will be the date on which the notice, demand or other communication is actually received by the addressee.

7.3

Either party may at any time and from time to time notify the other party in writing of a change of address and the new address to which notice will be given to it thereafter until further change.

8.0

GENERAL

8.1

This Agreement will supersede and replace any other agreement or arrangement, whether oral or written, heretofore existing between the parties in respect of the subject matter of this Agreement.

8.2

No consent or waiver expressed or implied by either party in respect of any breach or default by the other in the performance of such other of its obligations hereunder will be deemed or construed to be a consent to or a waiver of any other breach or default.

8.3

The parties will promptly execute or cause to be executed all documents, deeds, conveyances and other instruments of further assurance which may be reasonably necessary or advisable to carry out fully the intent of this Agreement or to record wherever appropriate the respective interests from time to time of the parties in the Property.

8.4

This Agreement and any other writing delivered pursuant hereto may be executed in any number of counterparts with the same effect as if all parties to this Agreement or such other writing had signed the same document and all counterparts will be construed together and will constitute one and the same instrument.

8.5

This Agreement will be governed and construed according to the laws of Alberta applicable therein and the parties hereby attorn to the jurisdiction of the Courts of Alberta in respect of all matters arising hereunder.

8.6

This Agreement will enure to the benefit of and be binding upon the parties and their respective successors and permitted assigns.

IN WITNESS WHEREOF this Agreement has been executed on behalf of the parties by their duly authorized officers in that behalf.

GUERRERO EXPLORATION INC., an Alberta corporation

By:        / s / Michelle Robinson                                                      

Its:  President, CEO, and Director

NEW YORK TUTOR COMPANY, a Nevada corporation

By:         / s / Andrew Stone                                                            

Its: President, CEO, and Director

 

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SCHEDULE "A"

					
	Company

	PL Number

	Size km2

	Date Issued

	Date Renewal

	Pinette

	PL137/2010

	852.1

	1 Oct 2010

	30 Sept 2013

	Pinette

	PL138/2010

	455.5

	1 Oct 2010

	30 Sept 2013

	Pinette

	PL139/2010

	830

	1 Oct 2010

	30 Sept 2013

	Pinette

	PL140/2010

	731.9

	1 Oct 2010

	30 Sept 2013

	Pinette

	PL141/2010

	923.2

	1 Oct 2010

	30 Sept 2013

	Pinette

	PL142/2010

	696.8

	1 Oct 2010

	30 Sept 2013

	Pinette

	PL143/2010

	751.1

	1 Oct 2010

	30 Sept 2013

	Pinette

	PL144/2010

	746.6

	1 Oct 2010

	30 Sept 2013

	Pinette

	PL145/2010

	654.7

	1 Oct 2010

	30 Sept 2013

	Pinette

	PL146/2010

	970.6

	1 Oct 2010

	30 Sept 2013

	Pinette

	PL147/2010

	890.8

	1 Oct 2010

	30 Sept 2013

	Pinette

	PL148/2010

	1000

	1 Oct 2010

	30 Sept 2013

Bonnyridge Licenses:

PL700/2009  for 983 kms2 with issue date of Oct 1, 2009 and Date Renewal of Sept 30, 2012.

PL701/2009  for 992.2 kms2 with issue date of Oct 1, 2009 and Date Renewal of Sept 30, 2012.

PL702/2009  for 990.4 kms2 with issue date of Oct 1, 2009 and Date Renewal of Sept 30, 2012.

           

5Exhibit 10.20 Promissory Note

PROMISSORY NOTE

			
	$150,000.00

	Los Angeles, California

	April 16, 2013 

FOR VALUE RECEIVED, the receipt and adequacy of which is hereby acknowledged, the undersigned promises to pay to Charlie Sheen, or order (collectively "Holder"), or order, the principal sum of One Hundred Fifty Thousand Dollars ($150,000.00) in lawful money of the United States of America, from the date endorsed on the reverse side hereof.  This Note is unsecured.

1.

Interest Rate.  Interest on this Note shall be calculated at the rate of Six Percent (6.00%) per annum on the basis of the actual number of days during which the principal balance is outstanding, divided by three hundred sixty five (365), which shall, for interest computation purposes, be considered one (1) year.

2.

Term.  The entire outstanding principal balance hereof shall be due and payable on the 10th day of April, 2015.  Said date shall be referred to as the AMaturity Date@ herein.

3.

Payments.  Payments of interest only shall be made in arrears, on the first day of each and every calendar month commencing November 1, 2013, in the amount of $ 750.00 per month until the Maturity Date when all accrued, but unpaid interest and principal shall be due and payable.

4.

Crediting Payments.  Each payment received by the Holder shall be credited as of its due date, without regard to its date of receipt by the Holder, first to interest then due and the remainder, if any, to principal and interest shall cease upon the principal so credited as of the date that such credit is made.  For the purposes of allocation of any payment as between principal and interest, interest shall consist of the product of the outstanding principal balance on this Note immediately prior to allocation of the monthly installment payment times the Interest Rate of this Note divided by twelve (12).  All other interest calculations on this Note shall be made on a daily basis.  Daily interest shall consist of the product of the outstanding principal balance on this Note times the annual interest rate divided by 365 days.

5.

Default and Acceleration.  The entire unpaid principal balance hereunder, together with all accrued and unpaid interest hereon, shall, without notice, become immediately due and payable at the option of the holder of this Note in the event of any default of Borrower or any other person, firm, or corporation who is or may become liable for payment of all or any part of this obligation (a) in the payment of any installment of principal or interest when due and payable under this Note, (b) in the payment of any other sum when due and payable under this Note which shall continue beyond the applicable grace period, if any, or (c) in the performance or observance of any other covenant, obligation or agreement of the Borrower or such other person, firm, or corporation under this Note, or any other instrument evidencing or securing the principal, the interest, or any other sums due or to become due pursuant to this Note which shall continue beyond the applicable grace period, if any.  One or more failures to exercise such option shall not constitute a waiver of the right to exercise such option in the event of any subsequent default.

6.

Prepayments.  The principal amount due on this Note may be prepaid in whole or in part, at any time without penalty.  Partial prepayments shall be applied against the outstanding principal balance of this Note and shall not extend or postpone the due date of any subsequent monthly installments or change the amount of such installments unless the holder hereof shall agree otherwise in writing.  The holder hereof may require that any partial prepayments be made on the date monthly installments are due.

7.

 Collection Costs.  In the event of any default under this Note or the Deed of Trust, the Borrower agrees to pay all costs of collection, including reasonable attorneys' fees, whether or not suit is actually brought or judgment is actually rendered.

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8.

Miscellaneous.

a.

To the extent permitted by law, the Borrower and any other person, firm, or corporation who is or may become liable for the payment of all or any part of this obligation hereby jointly and severally:(i) waive and renounce any and all exception rights and the benefit of all valuation and appraisal privileges as against this indebtedness or any renewal or extension thereof, (ii) waive presentment for payment, demand, protest, notice of protest and notice of dishonor and any and all lack of diligence or delays in the collection or enforcement of this Note, and  (iii) consent to any extension of time, release of any collateral securing this Note, acceptance or other collateral therefor, or any other indulgence or forbearance whatsoever.  Any such extension, release, acceptance, indulgence or forbearance may be made to the extent permitted by law, without notice to the undersigned or such other person, firm, or corporation.

b.

No change, amendment, modification, cancellation or discharge of this Note, or of any part hereof, shall be valid unless the holder hereof shall have consented thereto in writing.

c.

The covenants and obligations of this Note shall be binding upon the Borrower, and its partners, executors, successors and assigns, and shall inure to the benefit of the Holder, its beneficiaries, successors and assigns and all subsequent holders of this Note.

d.

This Note may be assigned in whole or in part by Holder.

e.  

Notwithstanding any provision to the contrary herein contained, it is expressly provided that in no case or event shall the aggregate of: (i) all "interest" on the unpaid balance of this Note, accrued or paid from the date of advancement through the date of such calculation, and (ii) the aggregate of any other amounts accrued or paid pursuant to this Note, or any other amounts accrued or paid pursuant to this Note, or any other instrument evidencing, related to or securing this Note, which under applicable laws are or may be deemed to constitute interest upon the loan evidenced hereby from the date of disbursement through the date of such calculations, ever exceed the maximum rate of interest which could lawfully be charged to the Borrower (under applicable law) on the principal balance of the loan evidenced by this Note from time to time remaining unpaid.  In this connection it is expressly stipulated and agreed that it is the intent of the Holder and the Borrower in the execution and delivery of this Note and all other instruments evidencing or securing the indebtedness constituting this loan, to contract in strict compliance with applicable usury laws from time to time in effect.  In furtherance thereof, none of the terms of this Note, or of any other such agreements evidencing, related to or securing this Note, shall ever be construed to create a contract to pay, as consideration for use, forbearance or detention of money, interest at a rate in excess of the maximum interest rate permitted to be charged to the Borrower by applicable laws.  The Borrower or any guarantor, endorser or other parties now or hereafter becoming liable for the payment of this Note or any other indebtedness incurred incident to this loan shall never be liable for interest in excess of the maximum rate that may be lawfully charged under applicable laws, and the provisions of this paragraph shall control over any other provisions of this Note  or any other instrument evidencing, related to or securing this Note which may be in apparent conflict herewith.

f.

Specifically and without limiting the generality of the foregoing, it is expressly provided that if under any circumstances the aggregate amounts paid on this Note prior to and incident to the Maturity Date include amounts which by law are deemed interest and which would exceed the maximum amount of interest which could lawfully have been collected will be deemed to have been the result of a mathematical error on the part of both the Borrower and Holder of the Note and that the party receiving such excess (to the extent of the excess of such interest payments above the maximum amounts which could lawfully have been collected and retained) upon discovery of such error by the party receiving such payment or upon notice thereof from the party making such payment.  It is hereby expressly stipulated and agreed by both Maker and Holder to at all times comply with the usury and all other laws relating to this Note and the instruments securing it, now or hereafter in effect, and any subsequent judicial interpretations thereof  to the extent the same are made applicable thereto.

g.

This Note has been executed and delivered by Borrower in the State of California and is to be governed by and construed in accordance with the laws of the State of California.

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h.

Principal, interest and charges are payable in lawful money of the United States.

i.

In this Note, the singular shall include the plural.

j.

This Note shall be the joint and several obligation of each maker hereof.

k.

All payments due under this Note shall be made to Holder at its principal offices, or such other place as may be designated from time to time by the Holder of this Note.

l.

If any provision of this Note is prohibited or invalid under State or Federal law, such prohibited or invalid provisions shall not affect the validity of any other provision herein.

"BORROWER":

THE DIGITAL DEVELOPMENT GROUP CORP.

A Nevada corporation

By: /s/ Joseph Q. Bretz

Joe Q. Bretz, Its President

REST OF THE PAGE LEFT INTENTTIONALLY BLANK

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