Document:

Exhibit 10.1

 

 

STOCK PURCHASE AGREEMENT

 

This is an Agreement,
entered into on June 30, 2019 (the “Effective Date”), by and between Xiuhua Song and Yibaoccyb, Ltd., an British
Virgin Islands company, collectively the (“Buyer”), YBCC Inc. (“YBAO” or “Seller”), a corporation
organized under the laws of Nevada with principal executive offices located at 618 Brea Canyon Rd, Suite A, Walnut, CA 91789 (the
“Seller”), Xiuhua Song founder and CEO of Yibaoccyb, Ltd.(“Song”) and Yibaoccyb, Ltd.(“Yibaoccyb”).

 

Background

 

		A.	The Buyer owns 3,915,000 shares of the (40%) of YBAO’s Common Stock.

 

		B.	Buyer desires to purchase 25,500 shares of Yibao BVI which equals 51% of the equity of Yibaoccyb
held by the Seller.

 

B. Seller has agreed
to sell to Buyer, and Buyer has agreed to purchase from Seller, such 51% interest in Yibaoccyb resulting in Buyer owning 100% of
Yibaoccyb

 

NOW, THEREFORE,
intending to be legally bound, the parties agree as follows:

 

1.0 Acquires of
51% Interest.

 

Acquired Shares of
Stock. Upon the terms and conditions of this Agreement, Seller hereby sells, transfers, assigns, conveys and delivers to Buyers,
and Buyer hereby purchases, accepts and acquires from Seller, free and clear of any and all liens or encumbrances of any kind whatsoever,
51% percent (51%) of the Yibaoccyb Shares (the “Acquired Shares”):

 

2.0 Purchase Price
and Payment.

 

	 	 	Common Shares. The purchase price for the Acquired shares shall be paid 2,040,000 common shares of YBAO (the “Common Shares”) as of the Effective Date. Such Common Shares shall be returned to YBAO’s treasury.

 

3.0 Closing.

 

Time and Place of
Closing. The closing of the transactions described in this Agreement (“Closing”) shall take place upon the Effective
Date or at such other time as the parties may mutually agree (the “Closing Date”).

 

4.0 Seller’s
Representations and Warranties. Seller hereby makes the following representations and warranties to Buyer, each of which shall
survive the Closing:

 

4.1 Corporate Organization.
Seller is duly organized, validly existing, and in good standing under the laws of the State of Nevada and has qualified to do
business in each jurisdiction where such qualification is required. Seller has all requisite corporate power and authority and
all necessary licenses and permits to conduct its business as now conducted and to own, lease, and operate the assets and properties
now owned, leased, or operated by it.

 

4.2 Compliance with
Laws. Seller has complied with all applicable laws in the operation of its business and has not received any notice of violation
of any law, ordinance, rule, regulation, or order which has a material adverse effect on or, so far as any of them can now reasonably
foresee, could reasonably be expected to in the future to have a material adverse effect on the Acquired Assets.

 

 

 

 

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5.0 Buyer’s
Representations and Warranties. Buyer hereby makes the following representations and warranties to Seller, each of which shall
survive the Closing:

 

5.1 Enforceable Agreement
- this Agreement has been duly executed and delivered by the Buyer and constitutes a legal, valid and binding obligation of the
Buyer, enforceable by the Seller against the Buyer in accordance with its terms, subject to the availability of equitable remedies
and the enforcement of creditors' rights generally;

 

5.2 Bankruptcy and
Insolvency Matters – No action or proceeding has been commenced or filed by or against the Buyer which seeks or may lead
to bankruptcy or any other similar proceeding in respect of the Buyer. No such action or proceeding has been authorized or is being
considered by or on behalf of the Buyer and no creditor or equity security holder of the Buyer has, to the knowledge of the Buyer,
threatened to commence or advise that it may commence, any such action or proceeding;

 

5.3 Broker's Fees
– The Buyer has not incurred any obligation or liability, contingent or otherwise for broker's or finder's fees in respect
of the transaction herein provided for which the Vendor shall have any obligation and liability;

 

5.4 Consents –
no approval, consent, order, authorization or other action by, or notice to or fiSongg with, any governmental authority or regulatory
or self-regulatory agency, or any other person or entity, and no lapse of a waiting period, is required in connection with the
execution, delivery or performance by the Buyer of this Agreement; and

 

5.5 Litigation
- there is no action, suit, proceeding or investigation pending or currently threatened against the Buyer its affiliates that questions
the validity of this Agreement or the right of the Buyer to enter into this Agreement or to consummate, or cause to be consummated,
the transactions contemplated hereby.

 

6.0 Indemnifications.

 

6.1 Indemnification
By Buyer and Yibaoccyb. Buyer and Xiuhua Song (collectively “Indemnifiers”) shall jointly and severally defend,
hold harmless, and indemnify Seller and its employees, officers, and managers, and members against all liabilities, damages, losses,
claims, judgments and expenses (including reasonable attorneys’ fees and related costs) arising from (i) the conduct of Yibaoccyb
business which is includes but not limited to any past, present or future liabilities of Yibaoccyb; or (ii) a material breach by
Buyer of any of the covenants, agreements, warranties or representations contained in this Agreement.

 

6.2 Additional Indemnification
of Indemnifiers. Additionally Indemnifiers shall indemnify and hold Seller and its directors, officers, shareholders, members,
partners, employees and agents (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding
a lack of such title or any other title), each Person who controls such Seller (within the meaning of Section 15 of the Securities
Act and Section 20 of the Exchange Act), and the directors, officers, shareholders, agents, members, partners or employees (and
any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding a lack of such title or any
other title) of such controlling person (each, a “Seller Party”) harmless from any and all losses, liabilities,
obligations, claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in settlements, court costs
and reasonable attorneys’ fees and costs of investigation that any such Seller Party may suffer or incur as a result of or
relating to (a) any material breach of any of the representations, warranties, covenants or agreements made by the Buyer and Yibaoccybin
this Agreement or (b) any action instituted against a Seller Party in any capacity, or any of them or their respective Affiliates,
by any stockholder of the Company or Yibaoccyb who is not an Affiliate of such Seller Party related go this agreement. If any action
shall be brought against any Seller Party in respect of which indemnity may be sought pursuant to this Agreement, such Seller Party
shall promptly notify the Indemnifiers in writing, and the Indemnifiers shall have the right to assume the defense thereof with
counsel of its own choosing reasonably acceptable to the Seller Party. Any Seller Party shall have the right to employ separate
counsel in any such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense
of such Seller Party except to the extent that (i) the employment thereof has been specifically authorized by the Indemnifiers
in writing, (ii) the Indemnifiers has failed after a reasonable period of time to assume such defense and to employ counsel or
(iii) in such action there is, in the reasonable opinion of such separate counsel, a material conflict on any material issue between
the position of the Company and the position of such Seller Party, in which case the Indemnifiers shall be responsible for the
reasonable fees and expenses of no more than one such separate counsel.

 

 

 

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7.0
Miscellaneous.

 

7.1 Amendments; Waivers.
No amendment, modification, or waiver of any provision of this Agreement shall be binding unless in writing and signed by the party
against whom the operation of such amendment, modification, or waiver is sought to be enforced. No delay in the exercise of any
right shall be deemed a waiver thereof, nor shall the waiver of a right or remedy in a particular instance constitute a waiver
of such right or remedy generally.

 

7.2 Notices. Any
notice or document required or permitted to be given under this Agreement shall be deemed to be given on the date such notice is
(i) deposited in the United States mail, postage prepaid, certified mail, return receipt requested, (ii) deposited with a commercial
overnight delivery service with delivery fees paid, or (iii) transmitted by electronic mail with transmission acknowledgment, to
the following addresses or such other address or addresses as the parties may designate from time to time by notice satisfactory
under this section:

 

Buyer: Xiuhua Song

618 Brea Canyon road,
STE A

Walnut, CA 91789

Attn: Xiuhua
Song

 

 Seller: YBCC, Inc.

618 Brea Canyon road,
STE A

Walnut, CA 91789

Attn: Xiuhua
Song

 

7.3 Governing Law.
This Agreement shall be governed by the internal laws of Nevada without giving effect to the principles of conflicts of laws. Each
party hereby consents to the personal jurisdiction of the state or California, and agrees that all disputes arising from this Agreement
shall be prosecuted in such courts. Each party hereby agrees that any such court shall have in persona jurisdiction over such party
and consents to service of process by notice sent by regular mail to the address set forth above and/or by any means authorized
by Nevada law.

 

7.4 Language Construction.
The language of this Agreement shall be construed in accordance with its fair meaning and not for or against any party. The parties
acknowledge that each party and its counsel have reviewed and had the opportunity to participate in the drafting of this Agreement
and, accordingly, that the rule of construction that would resolve ambiguities in favor of non-drafting parties shall not apply
to the interpretation of this Agreement.

 

7.5 No Offer.
The submission of this Agreement by any party for the review and/or execution by another party does not constitute an offer or
reservation of rights for the benefit of any party. This Agreement shall become effective, and the parties shall become legally
bound, only if and when all parties have executed this Agreement.

 

7.6 Payment of Fees.
In the event of a dispute arising under this Agreement, the prevailing party shall be entitled to recover reasonable attorneys’
fees and costs, provided that if a party prevails only in part the court shall award fees and costs in accordance with the relative
success of each party.

 

7.7 Signature in Counterparts.
This Agreement may be signed in counterparts, each of which shall be deemed to be a fully-executed original.

 

7.8 Signature by Email.
An original signature transmitted by email shall be deemed to be original for purposes of this Agreement.

 

 

 

 

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7.9 Assignment.
Neither party to this Agreement shall assign its rights or duties hereunder without the prior written consent of the other party.
Any attempted assignment without such prior written consent shall be null and void.

 

7.10 No Third Party
Beneficiaries. Except as otherwise specifically provided in this Agreement, this Agreement is made for the sole benefit of
the parties. No other persons shall have any rights or remedies by reason of this Agreement against any of the parties or shall
be considered to be third party beneficiaries of this Agreement in any way.

 

7.11 Binding Effect.
This Agreement shall inure to the benefit of the respective heirs, legal representatives and permitted assigns of each party, and
shall be binding upon the heirs, legal representatives, successors and assigns of each party.

 

7.12 Titles and Captions.
All article, section and paragraph titles and captions contained in this Agreement are for convenience only and are not deemed
a part of the context hereof.

 

7.13 Pronouns and
Plurals. All pronouns and any variations thereof are deemed to refer to the masculine, feminine, neuter, singular or plural
as the identity of the person or persons may require.

 

7.14 Entire Agreement.
This Agreement constitutes the entire agreement between the parties with respect to its subject matter and supersedes all prior
agreements and understandings.

 

IN WITNESS WHEREOF, the Parties hereto have executed
this Agreement, as of the date first written hereinabove.

 

 

 

YBCC INC. 

 

The Seller

 

/s/ Xiuhua Song                                        

By: Xiuhua Song

Its: Chief Executive Officer

 

 

 

XIUHUA SONG 

THE BUYER:

 

/s/ Xiuhua Song                                      

 

By: Xiuhua Song

Its: Chief Executive Officer

 

Indemnifiers

 

Yibaoccyb, Ltd.

 

/s/ Xiuhua Song                                      

By: Xiuhua Song

Its: Chief Executive Officer

 

 

 

    	 	4Document

EXTENSION AGREEMENT
July 7, 2019
Citibank, N.A., as Administrative Agent under the Credit Agreement referred to below
Ladies and Gentlemen:
The undersigned hereby agrees to extend, effective July 7, 2019, the Maturity Date under the Credit Agreement dated as of July 7, 2017 among Molson Coors Brewing Company, the Initial Borrowing Subsidiaries and other Borrowing Subsidiaries from time to time party thereto, the Lenders and Issuing Banks from time to time party thereto and Citibank, N.A., as Administrative Agent (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), for one year to July 7, 2024.  Terms defined in the Credit Agreement are used herein with the same meaning.
This Extension Agreement is subject to satisfaction of the conditions set forth in Section 2.08(f) of the Credit Agreement.
This Extension Agreement shall be construed in accordance with and governed by the law of the State of New York.

[Remainder of Page Intentionally Left Blank]

						
	BANK OF AMERICA, N.A., as a Lender	
		
	By:	/s/ Nicholas Cheng

	Name:	Nicholas Cheng 
	Title:	Director

[Signature Page to Extension Agreement – Molson Coors (2019)]

						
	MUFG BANK, LTD. (formerly known as The Bank of Tokyo Mitsubishi UFJ, Ltd.), as an Issuing Bank and a Lender	
		
	By:	/s/ Steve Aronowitz
	Name: 	Steve Aronowitz
	Title:	Managing Director

[Signature Page to Extension Agreement – Molson Coors (2019)]

						
	Bank of Montreal
	
		
	By:	/s/ Chad Beltz

	Name:	Chad Beltz 
	Title:	Vice President

[Signature Page to Extension Agreement – Molson Coors (2019)]

						
	GOLDMAN SACHS BANK USA	
		
	By:	/s/ Annie Carr
	Name:	Annie Carr
	Title:	Authorized Signatory

[Signature Page to Extension Agreement – Molson Coors (2019)]

						
	ROYAL BANK OF CANADA, as a Lender 	
		
	By:	/s/ Julia Ivanova 
	Name:	Julia Ivanova
	Title:	Authorized Signatory

[Signature Page to Extension Agreement – Molson Coors (2019)]

						
	JPMORGAN CHASE BANK, N.A.	
		
	By:	/s/ Tony Yung
	Name: 	Tony Yung
	Title:	Executive Director

[Signature Page to Extension Agreement – Molson Coors (2019)]

						
	COOPERATIEVE RABOBANK U.A., NEW YORK BRANCH, as a Lender	
		
	By:	/s/ Claire Laury 
	Name:	Claire Laury
	Title:	Executive Director
		
	By:	/s/ Erin Scott
	Name:	Erin Scott
	Title:	Vice President 

[Signature Page to Extension Agreement – Molson Coors (2019)]

						
	LLOYDS BANK CORPORATE MARKETS PLC	
		
	By:	/s/ Kamala Basdeo
	Name:	Kamala Basdeo
	Title:	Assistant Manager 
		
	By:	/s/ Tina Wong
	Name:	Tina Wong 
	Title:	Assistant Manager 

[Signature Page to Extension Agreement – Molson Coors (2019)]

						
	THE BANK OF NOVA SCOTIA	
		
	By:	/s/ Winston Lua
	Name:	Winston Lua
	Title:	Director 

[Signature Page to Extension Agreement – Molson Coors (2019)]

						
	The Northern Trust Company	
		
	By:	/s/ Molly Drennan
	Name:	Molly Drennan
	Title:	Senior Vice President 

[Signature Page to Extension Agreement – Molson Coors (2019)]

Agreed and accepted:
						
	MOLSON COORS BREWING COMPANY	
		
	By:	/s/ Michael Rumley

	Name: 	Michael Rumley
	Title:	Vice President Treasurer

[Signature Page to Extension Agreement – Molson Coors (2019)]

						
	CITIBANK, N.A., as Administrative Agent and Lender	
		
	By:	/s/ Carolyn Kee

	Name:	Carolyn Kee
	Title:	Vice President
	Title:	

[Signature Page to Extension Agreement – Molson Coors (2019)]

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