Document:

ex4-5.htm

Exhibit 4.5

UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT TRADE THE SECURITY BEFORE JUNE 4, 2010.

 

THE WARRANTS REPRESENTED HEREBY AND THE COMMON SHARES ISSUABLE UPON EXERCISE THEREOF HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).  THE HOLDER HEREOF, BY PURCHASING SUCH WARRANTS, AGREES FOR THE BENEFIT OF THE CORPORATION THAT SUCH WARRANTS MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, AND THAT THE UNDERLYING COMMON SHARES MAY BE OFFERED, SOLD OR OTHERWISE TRANSFERRED ONLY (A) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT AND IN COMPLIANCE WITH APPLICABLE STATE SECURITIES LAWS, (B) TO THE CORPORATION, (C) OUTSIDE THE UNITED STATES IN ACCORDANCE WITH RULE 904 OF REGULATION S UNDER THE 1933 ACT, OR (D) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE 1933 ACT AND ANY APPLICABLE STATE SECURITIES LAWS, PROVIDED THAT IN THE CASE OF AN OFFER, SALE OR TRANSFER REFERRED TO IN CLAUSE (D), THE CORPORATION HAS RECEIVED A WRITTEN OPINION OF LEGAL COUNSEL REASONABLY SATISFACTORY TO IT TO THE EFFECT THAT THE PROPOSED TRANSFER MAY BE EFFECTED WITHOUT REGISTRATION UNDER THE 1933 ACT.

 

THIS WARRANT CERTIFICATE IS VOID IF NOT EXERCISED ON OR BEFORE

4:30 P.M. (CALGARY TIME) ON DECEMBER 31, 2011.

 

WARRANT CERTIFICATE

CANADIAN SUPERIOR ENERGY INC.

(Incorporated under the laws of the Province of Alberta)

 

 

	
WARRANT

	  	  	
2,500,000

	
WARRANTS entitling the holder to

	
CERTIFICATE NO.

	
W-2

	  	  	
acquire, subject to adjustment, one

	  	  	  	  	
Common Share for each Warrant represented hereby.

 

THIS IS TO CERTIFY THAT

 

(hereinafter referred to as the “holder” or the “Warrantholder”) is entitled to acquire for each Warrant represented hereby, in the manner and subject to the restrictions and adjustments set forth herein, at any time and from time to time until 4:30 p.m. (Calgary time) (the “Expiry Time”) on December 31, 2011, one fully paid and non-assessable common share (“Common Share”) in the capital of Canadian Superior Energy Inc. (the “Corporation”).

 

This Warrant may only be exercised at the head office of the Corporation at 3200, 500 - 4th Avenue S.W., Calgary, Alberta T2P 2V6, Attention: Chief Financial Officer.  This Warrant is issued subject to the terms and conditions appended hereto as Schedule “A”.

 

IN WITNESS WHEREOF, the Corporation has caused this Warrant to be executed by a duly authorized officer. DATED for reference this 3rd day of February, 2010.

 

	  	
CANADIAN SUPERIOR ENERGY INC.

	  	  	  
	  	  	  
	  	
Per:

	
 

	  	  	
Marvin M. Chronister

Chairman of the Board

 

(See terms and conditions attached hereto)

  

  

  

SCHEDULE “A”

 

TERMS AND CONDITIONS FOR WARRANT

 

Terms and Conditions attached to the Warrant issued by Canadian Superior Energy Inc. and dated for reference February 3, 2010.

 

ARTICLE 1

INTERPRETATION

 

	
1.1

	
Definitions

 

In these Terms and Conditions, unless there is something in the subject matter or context inconsistent therewith:

 

	
(a)

	
“Common Shares” means the common shares in the capital of the Corporation to be issued pursuant to the exercise of Warrants;

 

	
(b)

	
“Corporation” means Canadian Superior Energy Inc. unless and until a successor corporation shall have become such in the manner prescribed in Article 6, and thereafter “Corporation” shall mean such successor corporation;

 

	
(c)

	
“Corporation's Auditors” means Deloitte & Touche LLP, independent chartered accountants or another independent firm of accountants duly appointed as auditors of the Corporation;

 

	
(d)

	
“Exchange” means the NYSE Amex or, if not listed thereon, such other stock exchange on which the Corporation's common shares are listed and posted for trading;

 

	
(e)

	
“Exercise Price” means the price of U.S.$0.65 per share on or before the Expiry Time, expressed in lawful money of Canada subject to adjustment as provided herein;

 

	
(f)

	
“Expiry Time” means 4:30 p.m. (Calgary time) on December 31, 2011;

 

	
(g)

	
“herein”, “hereby” and similar expressions refer to these Terms and Conditions as the same may be amended or modified from time to time; and the expression “Article” and “Section” followed by a number refer to the specified Article or Section of these Terms and Conditions;

 

	
(h)

	
“Issue Date” means the issue date of the Warrant shown on the face page of the Warrant Certificate;

 

	
(i)

	
“person” means an individual, corporation, partnership, trustee or any unincorporated organization and words importing persons have a similar meaning;

 

	
(j)

	
“TSX” means the Toronto Stock Exchange;

 

	
(k)

	
“Warrant” means the warrant to acquire Common Shares evidenced by the Warrant Certificate;

 

	
(l)

	
“Warrant Certificate” means the certificate to which these Terms and Conditions are attached; and

 

	
(m)

	
words importing the singular number include the plural and vice versa and words importing the masculine gender include the feminine and neuter genders.

 

	
1.2

	
Interpretation Not Affected by Headings

 

The division of these Terms and Conditions into Articles and Sections, and the insertion of headings

 

  

  

  

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are for convenience of reference only and shall not affect the construction or interpretation thereof.

 

	
1.3

	
Applicable Law

 

The terms hereof and of the Warrant shall be construed in accordance with the laws of the Province of Alberta and the federal laws of Canada applicable thereto.

 

ARTICLE 2

ISSUE OF WARRANT

 

	
2.1

	
Issue of Warrants

 

That number of Warrants set out on the Warrant Certificate are hereby created and authorized to be issued.

 

	
2.2

	
Additional Warrants

 

	
  

	
(a)

	
Subject to any other written agreement between the Corporation and the Warrantholder, the Corporation may at any time and from time to time undertake further equity or debt financing and may issue additional Common Shares, warrants or grant options or similar rights to purchase Common Shares to any person; provided, however, that the Exercise Price and the number of Common Shares issuable upon exercise of a Warrant may be subject to adjustment as a result of such issuance as further provided herein.

 

	
2.3

	
Issue in Substitution for Lost Warrants

 

If the Warrant Certificate becomes mutilated, lost, destroyed or stolen:

 

	
  

	
(a)

	
the Corporation shall issue and deliver a new Warrant Certificate of like date and tenor as the one mutilated, lost, destroyed or stolen, in exchange for and in place of and upon cancellation of such mutilated, lost, destroyed or stolen Warrant Certificate; and

 

	
  

	
(b)

	
the holder shall bear the cost of the issue of a new Warrant Certificate hereunder and in the case of the loss, destruction or theft of the Warrant Certificate, shall furnish to the Corporation such evidence of loss, destruction, or theft as shall be satisfactory to the Corporation in its discretion and the Corporation may also require the holder to furnish indemnity in an amount and form satisfactory to the Corporation in its discretion, and shall pay the reasonable charges of the Corporation in connection therewith.

 

	
2.4

	
Warrantholder Not a Shareholder

 

The Warrant shall not constitute the holder a shareholder of the Corporation, nor entitle it to any right or interest in respect thereof except as may be expressly provided in the Warrant.

 

	
2.5

	
Transfer of Warrants

 

The Warrant may not be offered, sold or otherwise transferred unless (i) pursuant to an effective registration statement under the Securities Act of 1933, as amended (the “1933 Act”), and applicable state securities laws, (ii) to the Corporation, (iii) outside the United States in accordance with the Rule 904 of Regulation S under the 1933 Act, or (iv) pursuant to an exemption from registration under the 1933 Act and applicable state securities laws, provided, however that in the case of an offer, sale or transfer referred to in clause (iv) the Corporation has received a written opinion of legal counsel reasonably satisfactory to it to the effect that the proposed transfer may be effected without registration under the 1933 Act.  Subject to the restrictions on transfer set forth above, the Warrant shall be transferable on the warrant register of the Corporation upon delivery of the Warrant Certificate therefor duly endorsed by the Warrantholder or by the Warrantholder's duly authorized attorney or representative, or accompanied by proper evidence of succession, assignment or authority to transfer.  Upon any registration of

  

  

  

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transfer, the Corporation shall deliver a new Warrant Certificate to the person entitled thereto.

 

	
2.6

	
Specific Notification to Warrantholder

 

If at any time prior to the expiration of the Warrants and prior to their exercise, any of the following events occur:

 

	
  

	
(a)

	
the Corporation shall declare any dividend payable in any securities upon its shares of Common Stock or make any distribution (other than a cash dividend) to the holders of its shares of Common Stock; or

 

	
  

	
(b)

	
the Corporation shall offer to the holders of its shares of Common Stock any additional shares of Common Stock or securities convertible into or exchangeable for shares of Common Stock or any right to subscribe to or purchase any thereof; or

 

	
  

	
(c)

	
a dissolution, liquidation or winding up of the Corporation (other than in connection with a consolidation, merger, sale, transfer or lease of all or substantially all of its property, assets and business as an entirety) shall be proposed,

 

then in any one or more of said events the Corporation shall give notice in writing of such event to the Warrantholders at least 20 days prior to the date fixed as a record date or the date of closing the transfer books for the determination of the stockholders entitled to such dividend, distribution or subscription rights, or for the determination of stockholders entitled to vote on such proposed dissolution, liquidation or winding up.  Such notice shall specify such record date or the date of closing the transfer books, as the case may be.  Failure to mail or receive such notice or any defect therein or mailing thereof shall not affect the validity of any action taken in connection with such dividend, distribution or subscription rights, or such proposed dissolution, liquidation or winding up.

 

ARTICLE 3

EXERCISE OF THE WARRANT

 

	
3.1

	
Method of Exercise of the Warrant

 

	
  

	
(a)

	
The right to purchase Common Shares conferred by the Warrant Certificate may be exercised, prior to the Expiry Time, by the holder surrendering it, with a duly completed and executed exercise form substantially in the form attached hereto as Schedule “B” and a certified cheque or bank draft payable to or to the order of the Corporation, at par in Calgary, Alberta, for the purchase price applicable at the time of surrender in respect of the Common Shares subscribed for in lawful money of the United States, to the head office of the Corporation.

 

	
  

	
(b)

	
The Warrants may not be exercised within the United States, or on behalf of, or for the account or benefit of, any person located in the United States, nor will certificates representing Common Shares issuable upon exercise of the Warrants be delivered in the United States, except pursuant to an exemption from the registration requirements of the 1933 Act and exemptions from applicable state securities laws.  Any person who proposes to exercise a Warrant shall provide to the Corporation, as contemplated in Schedule “B”, either (i) written certification that the Warrant is not being exercised within the United States or on behalf of, or for the account or benefit of, a person in the United States, or (ii) a written opinion of counsel or other evidence satisfactory to the Corporation to the effect that the issuance of Common Shares upon exercise of such Warrant is not required to be registered under the 1933 Act and applicable state securities laws.  Common Shares issuable upon exercise of Warrants by or on behalf of, or for the account or benefit of a person in the United States may, if so determined by the Corporation in its sole discretion, bear a legend restricting transfer.

 

  

  

  

- 4 -

 

	
3.2

	
Effect of Exercise of the Warrant

 

	
  

	
(a)

	
Upon surrender and payment as aforesaid, the Common Shares so subscribed for shall be issued as fully paid and non-assessable shares of the Corporation and the holder shall become the holder of record of such Common Shares on the date of such surrender and payment.

 

	
  

	
(b)

	
Within five business days after surrender and payment as aforesaid, the Corporation shall forthwith cause the issuance to the holder a certificate for the Common Shares purchased as aforesaid.

 

	
3.3

	
Subscription for Less than Entitlement

 

The holder may subscribe for and purchase a number of Common Shares less than the number which it is entitled to purchase pursuant to the surrendered Warrant Certificate.  In the event of any purchase of a number of Common Shares less than the number which can be purchased pursuant to the Warrant Certificate, the holder shall be entitled to the return of the Warrant Certificate with a notation on the Grid attached hereto as Schedule “C” showing the balance of the Common Shares which it is entitled to purchase pursuant to the Warrant Certificate which were not then purchased.

 

	
3.4

	
Expiration of the Warrant

 

After the Expiry Time all rights hereunder shall wholly cease and terminate and the Warrant shall be void and of no effect.

 

ARTICLE 4

ADJUSTMENTS

 

	
4.1

	
Adjustments

 

The number of Common Shares purchasable upon the exercise of each Warrant and the Exercise Price shall be subject to adjustment as follows:

 

	
  

	
(a)

	
in the event the Corporation shall:

 

	
  

	
(i)

	
pay a dividend in Common Shares or make a distribution in Common Shares;

 

	
  

	
(ii)

	
subdivide its outstanding Common Shares into a larger number of Common Shares;

 

	
  

	
(iii)

	
combine its outstanding Common Shares into a smaller number of Common Shares; or

 

	
  

	
(iv)

	
issue by reclassification of its Common Shares other securities of the Corporation (including any such reclassification in connection with a consolidation, merger, amalgamation or other combination in which the Corporation is the surviving corporation);

 

the number of Common Shares (or other securities) purchasable upon exercise of each Warrant immediately prior thereto shall be adjusted so that the Warrantholder shall be entitled to receive the kind and number of Common Shares or other securities of the Corporation which it would have owned or have been entitled to receive after the happening of any of the events described above, had such Warrant been exercised immediately prior to the happening of such event or any record date with respect thereto.  An adjustment made pursuant to this subsection (a) shall become effective immediately after the effective date of such event retroactive to the record date, if any, for such event.

  

  

  

- 5 -

 

	
  

	
(b)

	
In case the Corporation shall issue rights, options or warrants to all or substantially all holders of its outstanding Common Shares, without any charge to such holders, entitling them to subscribe for or purchase Common Shares at a price per share which is lower than 90% of the current market price per Common Share at the calculation date (each as determined in accordance with subsection (d) below), the number of Common Shares thereafter purchasable upon the exercise of each Warrant shall be determined by multiplying the number of Common Shares theretofore purchasable upon exercise of each Warrant by a fraction, of which the numerator shall be the number of Common Shares outstanding on the date of issuance of such rights, options or warrants plus the number of additional Common Shares offered for subscription or purchase, and of which the denominator shall be the number of Common Shares outstanding on the date of issuance of such rights, options or warrants plus the number of shares which the aggregate offering price of the total number of Common Shares so offered would purchase at the current market price per Common Share at such calculation date.  Such adjustment shall be made whenever such rights, options or warrants are issued, and shall become effective immediately after the calculation date.

 

	
  

	
(c)

	
In case the Corporation shall distribute to all or substantially all holders of its Common Shares evidences of its indebtedness or assets (excluding cash dividends or distributions payable out of consolidated earnings or earned surplus and dividends or distributions referred to in subsection (a) above or rights, options or warrants, or convertible or exchangeable securities containing the right to subscribe for or purchase Common Shares (excluding those referred to in subsection (b) above)), then in each case the number of Common Shares thereafter purchasable upon the exercise of each Warrant shall be determined by multiplying the number of Common Shares theretofore purchasable upon the exercise of each Warrant by a fraction, of which the numerator shall be the then current market price per Common Share at the calculation date (each as determined in accordance with subsection (d) below) and of which the denominator shall be such then current market price per Common Share at the calculation date less the then fair value (as determined by the board of directors of the Corporation, acting reasonably) of the portion of the assets or evidences of indebtedness so distributed or of such subscription rights, options or warrants, or of such convertible or exchangeable securities applicable to one Common Share.  Such adjustment shall be made whenever any such distribution is made, and shall become effective immediately after the calculation date.

 

In the event of the distribution by the Corporation to all or substantially all of the holders of its Common Shares of shares of a subsidiary or securities convertible or exercisable for such shares, then in lieu of an adjustment in the number of Common Shares purchasable upon the exercise of each Warrant, the Warrantholder of each Warrant, upon the exercise thereof, shall receive from the Corporation, such subsidiary or both, as the Corporation shall reasonably determine, the shares or other securities to which such Warrantholder would have been entitled if such Warrantholder had exercised such Warrant immediately prior thereto, all subject to further adjustment as provided in this section 4.1 provided, however, that no adjustment in respect of dividends or interest on such shares or other securities shall be made during the term of a Warrant or upon the exercise of a Warrant.

 

	
  

	
(d)

	
For the purpose of any computation under subsections (b) and (c) of this section 4.1, the current market price per Common Share at any date shall be the weighted average price per Common Share for five (5) consecutive trading days ending on the calculation date on the Exchange, or if not then traded on the Exchange, then on the stock exchange on which the largest volume of Common Shares were traded during such five (5) consecutive trading day period.  The weighted average price per Common Share shall be determined by dividing the aggregate sale price of all Common Shares sold on such exchange or market, as the case may be, during the said five (5) consecutive trading days by the total number of shares so sold.  For purposes of this subsection (d), trading day means, with respect to a stock exchange, a day on which such exchange is open for the transaction of business.  Should the Common Shares not be listed on any stock exchange the current market price per Common Share at any date shall be determined by the board of directors of the Corporation, acting reasonably.  For purposes of this subsection (d) calculation date means the 

  

  

  

- 6 -

 

trading day immediately prior to the trading day on which the Common Shares commence trading on an “ex-rights issue” or “ex-distribution” basis.

 

	
  

	
(e)

	
In any case in which this Article 4 shall require that any adjustment in the Exercise Price be made effective immediately after a calculation date or record date for a specified event, the Corporation may elect to defer until the occurrence of the event the issuance, to the holder of any Warrant exercised after that calculation date or record date, of the Common Shares and other shares of the Corporation, if any, issuable upon the exercise of the Warrant over and above the Common Shares and other shares of the Corporation; provided, however, that the Corporation shall deliver to the holder an appropriate instrument evidencing the holder's right to receive such additional shares upon the occurrence of the event requiring such adjustment.

 

	
  

	
(f)

	
No adjustment in the number of Common Shares purchasable hereunder shall be required unless such adjustment would require an increase or decrease of at least one percent (1%) in the number of Common Shares purchasable upon the exercise of each Warrant: provided, however, that any adjustments which by reason of this subsection (f) are not required to be made shall be carried forward and taken into account in any subsequent adjustment.  All calculations shall be made to the nearest one-hundredth of a share.

 

	
  

	
(g)

	
Wherever the number of Common Shares purchasable upon the exercise of each Warrant is adjusted, as herein provided, the Exercise Price payable upon exercise of each Warrant shall be adjusted by multiplying such Exercise Price immediately prior to such adjustment by a fraction, of which the numerator shall be the number of Common Shares purchasable upon the exercise of such Warrant immediately prior to such adjustment, and of which the denominator shall be the number of Common Shares purchasable immediately thereafter.

 

	
  

	
(h)

	
No adjustment in the number of Common Shares purchasable upon the exercise of each Warrant need be made under subsections (b) and (c) if, the Corporation issues or distributes to the Warrantholder the rights, options, warrants, or convertible or exchangeable securities, or evidences of indebtedness or assets referred to in those subsections which the Warrantholder would have been entitled to receive had the Warrants been exercised prior to the happening of such event or the calculation date with respect thereto.  Any such participation shall be subject to approval of the stock exchanges upon which the securities of the Corporation are then listed.

 

	
  

	
(i)

	
In the event that at any time, as a result of an adjustment made pursuant to subsection (a) above, the Warrantholder shall become entitled to purchase any securities of the Corporation other than Common Shares, thereafter the number of such other shares so purchasable upon exercise of each Warrant and the Exercise Price of such shares shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the Common Shares contained in subsections (a) through (h), inclusive, above, and the provisions of sections 4.2 through 4.4, inclusive, of this Article 4 with respect to the Common Shares, shall apply on like terms to any such other securities.

 

	
  

	
(j)

	
Upon the expiration of any rights, options, warrants or conversion or exchange privileges, if any thereof shall not have been exercised, the Exercise Price and the number of Common Shares purchasable upon the exercise of each Warrant shall, upon such expiration, be readjusted and shall thereafter be such as it would have been had it been originally adjusted (or had the original adjustment not been required, as the case may be) as if:

 

	
  

	
(i)

	
the only Common Shares so issued were the Common Shares, if any, actually issued or sold upon the exercise of such rights, options, warrants or conversion or exchange rights; and

 

	
  

	
(ii)

	
such Common Shares, if any, were issued or sold for the consideration actually received by the Corporation upon such exercise plus the aggregate consideration, if any, actually received

  

  

  

- 7 -

 

by the Corporation for the issuance, sale or grant of all such rights, options, warrants or conversion or exchange rights whether or not exercised;

 

provided further, that no such readjustment shall have the effect of increasing the Exercise Price or decreasing the number of Common Shares purchasable upon the exercise of each Warrant by an amount in excess of the amount of the adjustment initially made with respect to the issuance, sale or grant of such rights, options, warrants or conversion or exchange rights.

 

	
4.2

	
Voluntary Adjustment by the Corporation

 

Subject to requisite Exchange and TSX approval, the Corporation may, at its option, at any time during the term of the Warrants, reduce the then current Exercise Price to any amount deemed appropriate by the Board of Directors of the Corporation.

 

	
4.3

	
Notice of Adjustment

 

Whenever the number of Common Shares purchasable upon the exercise of each Warrant or the Exercise Price of such Warrant is adjusted, as herein provided, the Corporation shall promptly send to the Warrantholder by first class mail, postage prepaid, notice of such adjustment or adjustments.

 

	
4.4

	
No Adjustment for Dividends

 

Except as provided in section 4.1 of this Article 4, no adjustment in respect of any dividends shall be made during the term of a Warrant or upon the exercise of a Warrant.

 

	
4.5

	
Preservation of Purchase Rights Upon Merger, Consolidation, etc.

 

In connection with any consolidation of the Corporation with, or amalgamation, arrangement or merger of the Corporation with or into, another corporation or trust (including, without limitation, pursuant to a “takeover bid”, “tender offer” or other acquisition of all or substantially all of the outstanding Common Shares) or in case of any sale, transfer or lease to another corporation or trust of all or substantially all the property of the Corporation, the Corporation or such successor or purchasing corporation or trust, as the case may be, shall execute with the Warrantholder an agreement or issue an instrument providing a right such that the Warrantholder shall have the right thereafter, upon payment of the Exercise Price in effect immediately prior to such action, to purchase upon exercise of each Warrant the kind and amount of shares and other securities and property which it would have owned or have been entitled to receive after the happening of such consolidation, amalgamation, arrangement, merger, sale, transfer or lease had such Warrant been exercised immediately prior to such action, and the Warrantholder shall be bound to accept such shares and other securities and property in lieu of the Common Shares to which it was previously entitled: provided, however, that no adjustment in respect of dividends, interest or other income on or from such shares or other securities and property shall be made during the term of a Warrant or upon the exercise of a Warrant.  Any such agreement or instrument shall provide for adjustments, which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Schedule “A”.  The provisions of this section 4 shall similarly apply to successive consolidations, mergers, amalgamations, arrangements, sales, transfers or leases.

 

	
4.6

	
Determination of Adjustments

 

Subject to requisite Exchange and TSX approval, if at any time prior to the Expiry Time the Corporation takes any action affecting the Common Shares of the Corporation, other than an action or an event otherwise described in this Article 4, which in the opinion of the Board of Directors of the Corporation would have a material adverse effect upon the rights of the holder, the Exercise Price and/or the number of Common Shares purchasable under this Warrant Certificate will be adjusted in such manner and at such time as the directors may determine to be equitable in the circumstances.  If any questions shall at any time arise with respect to the Exercise Price or the number of Common Shares or other securities issuable pursuant to this Warrant Certificate, such question shall be conclusively determined by the Corporation's Auditors, or, if they decline to so act, any other firm of Chartered

  

  

  

- 8 -

Accountants, in Calgary, Alberta, that the Corporation may designate and the Warrantholder, acting reasonably, may approve, and who shall have access to all appropriate records and such determination shall be binding upon the Corporation and the holder and only with an requisite Exchange and TSX approval.

 

ARTICLE 5

COVENANTS BY THE CORPORATION

 

	
5.1

	
Reservation of Common Shares

 

The Corporation will reserve and there will remain unissued out of its authorized capital a sufficient number of Common Shares to satisfy the rights of acquisition provided for in the Warrant Certificate.

 

	
5.2

	
Binding Agreement

 

The Corporation hereby represents and warrants that this Warrant Certificate is a valid and enforceable obligation of the Corporation, enforceable in accordance with the provisions of this Warrant Certificate.

 

ARTICLE 6

MERGER AND SUCCESSORS

 

	
6.1

	
Corporation May Consolidate, etc. on Certain Terms

 

Nothing herein contained shall prevent any consolidation, amalgamation, arrangement or merger of the Corporation with or into any other corporation, trust or corporations or trusts, or a conveyance or transfer of all or substantially all the properties and estates of the Corporation as an entirety to any corporation or trust lawfully entitled to acquire and operate same, provided, however, that the corporation or trust formed by such consolidation, amalgamation, arrangement or merger or which acquires by conveyance or transfer all or substantially all the properties and estates of the Corporation as an entirety shall, simultaneously with such amalgamation, arrangement, merger, conveyance or transfer, assume the due and punctual performance and observance of all the covenants and conditions hereof to be performed or observed by the Corporation.

 

	
6.2

	
Successor Corporation Substituted

 

In case the Corporation, pursuant to section 6.1 shall be consolidated, amalgamated, arranged or merged with or into any other corporation, trust or corporations or trusts or shall convey or transfer all or substantially all of its properties and estates as an entirety to any other corporation or trust, the successor corporation or trust formed by such consolidation, amalgamation or arrangement, or into which the Corporation shall have been consolidated, amalgamated, arranged or merged or which shall have received a conveyance or transfer as aforesaid, shall succeed to and be substituted for the Corporation hereunder and such changes in phraseology and form (but not in substance) may be made in the Warrant Certificate and herein as may be appropriate in view of such amalgamation, arrangement, merger or transfer.

 

ARTICLE 7

AMENDMENTS

 

	
7.1

	
Amendment, etc.

 

This Warrant Certificate may only be amended by a written instrument signed by the Corporation and the holder and only with any requisite Exchange and TSX approval.

 

  

  

  

SCHEDULE “B”

 

EXERCISE FORM

 

TO:           Canadian Superior Energy Inc.

 

Terms which are not otherwise defined herein shall have the meanings ascribed to such terms in the Warrant Certificate held by the undersigned and issued by Canadian Superior Energy Inc. (the “Corporation”).

 

The undersigned hereby exercises the right to acquire __________ Common Shares of the Corporation in accordance with and subject to the provisions of such Warrant Certificate and herewith makes payment of the purchase price in full for the said number of Common Shares.

 

The Common Shares are to be issued as follows:

 

	
Name:

	  
	  	  
	
Address in full:

	  
	  	  
	  	  
	  	  
	
Social Insurance Number

	  

Note:  If further nominees are intended, please attach (and initial) a schedule giving these particulars.

 

The undersigned certifies that each of the representations and warranties made by the undersigned to the Corporation in connection with the undersigned's acquisition of the Warrants remains true and correct on the date hereof as though made on the date hereof with respect to the acquisition of Common Shares pursuant to the exercise of Warrants contemplated hereby.

 

The undersigned represents that it: [check one only]

 

	  	
A

	
is not in the United States and is not exercising Warrants on behalf of, or for the account or benefit of, a person in the United States.

 

	  
	  	  	  
	  	
B

	
is an institutional accredited investor meeting the requirements set forth in Rule501(a)(1),(2),(3) or (7) of Regulation D under the U.S. Securities Act that purchased Warrants from the Corporation and is exercising Warrants for its own account or for one or more investor accounts for which it is acting as fiduciary or agent and each such investor account is an institutional accredited investor.

 

	  
	  	  	  
	  	
C

	
has enclosed herewith a written opinion of counsel or other satisfactory evidence to the effect that the issuance of Common Shares upon exercise of Warrants is not required to be registered under the U.S. Securities Act and applicable state securities laws.  The undersigned understands that such opinion or other evidence must be acceptable to the Corporation.

 

	  

  

  

  

- 2 -

DATED this _____ day of ____________, 20___.

	  	  	  
	
Signature Guaranteed

	  	
(Signature of Warrantholder)

	  	  	  
	  	  	  

	  	  
	  	
Print full name

	  	  
	  	  
	  	
Print full address

 

Instructions:

 

	
1.

	
The registered holder may exercise its right to receive Common Shares by completing this form and surrendering this form and the Warrant Certificate representing the Warrants being exercised to the registered office of the Corporation.

 

	
2.

	
If the Exercise Form indicates that Common Shares are to he issued to a person or persons other than the registered holder of the Warrant Certificate, the signature of such holder of the Exercise Form must be guaranteed by an authorized officer of a chartered bank, trust company or an investment dealer who is a member of a recognized stock exchange.

 

	
3.

	
If the Exercise Form is signed by a trustee, exercise, administrator, curator, guardian, attorney, officer of a corporation or any person acting in a judiciary or representative capacity, the certificate must be accompanied by evidence of authority to sign satisfactory to the Corporation.

 

  

  

  

SCHEDULE “C”

 

WARRANT EXERCISE GRID

 

	
Common Share Issued

	  	
Common Shares Available

	  	
Initials of Authorized Officerexh_10-1.htm

    

    

    

     

    Stock
Purchase Agreement

    

    

    Dated as
of April 15, 2010

    

    

    By and
Among,

    

    

    Extreme
Home Staging, Inc.

     and

    

    Milka
Fixler

    

     and

    

    Esther
Ackerman

    

    and

    

    Marckensie
Theresias,

    

    

    

    

    

    

    

    

    

    -1-

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

     

    Table
of Contents

     

     

    
      	
              Section
      1. Construction and Interpretation

            	
              3

            
	
              1.1.
      Principles of Construction.

            	
              3

            
	 
      	 
      
	
              Section
      2.  The Transaction

            	
              4

            
	
              2.1.
      Purchase Price:

            	
              4

            
	
              2.2.
      Transfer of Shares and Terms of Payment:

            	
              4

            
	
              2.3.
      Closing.

            	
              4

            
	 
      	 
      
	
              Section
      3.  Additional Terms Pertaining to the
    Transaction

            	
              5

            
	
              3.1.
      Irrevocable Agreement.

            	
              5

            
	 
      	 
      
	
              Section
      4.  Confidential Information

            	
              5

            
	
              4.1.
      Confidential Information Defined.

            	
              5

            
	
              4.2.
      Confidentiality.

            	
              5

            
	
              4.3.
      Survival of Confidentiality.

            	
              6

            
	 
      	 
      
	
              Section
      5.  Representations and Warranties

            	
              6

            
	
              5.1.
      Representations and Warranties of the Sellers and the
    Company.

            	
              6

            
	
              5.2.
      Covenants of the Sellers and the Company.

            	
              8

            
	
              5.3.
      Representations and Warranties of the Purchaser

            	
              9

            
	 
      	 
      
	
              Section
      6.  Miscellaneous

            	
              10

            
	
              6.1.
      Expenses.

            	
              10

            
	
              6.2.
      Governing Law.

            	
              10

            
	
              6.3.
      Resignation of Old and Appointment of New Board of
    Directors.

            	
              11

            
	
              6.4.
      Disclosure.

            	
              11

            
	
              6.5.
      Notices.

            	
              11

            
	
              6.6.
      Parties in Interest.

            	
              12

            
	
              6.7.
      Entire Agreement.

            	
              12

            
	
              6.8.
      Amendments.

            	
              12

            
	
              6.9.
      Severability.

            	
              12

            
	
              6.10.
      Counterparts.

            	
              12

            
	
                    
       6.11. Spin Out

            	
              13

            

    

    

     

    

    

    -2-

    

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    

    

    

    

    Stock
Purchase Agreement

     

                   
This stock purchase agreement (“Agreement”), dated as
of April 15, 2010, is entered into by and among Extreme Home Staging,
Inc.  (“EXSG” or the "Company") and Milka
Fixler and Esther Ackerman, (collectively, "Sellers"),
and

    Marckensie
Theresias.  (the "Purchaser" and
together with the Company and the Sellers, the "Parties").

     

                    .

    

    W i t n e
s s e t h:

    

    Whereas,
the Sellers, are shareholders of Extreme Home Staging, Inc.  organized
and existing under the laws of the State of Nevada  who own and/or
control in the aggregate 8,850,000 shares of the  common stock of the
Company which represents 63% of the issued and outstanding common shares of the
Company.

    

    Whereas,
the Purchaser desires to acquire such number of shares of the
Company.

    

    Now,
Therefore, in consideration of the premises and of the covenants,
representations, warranties and agreements herein contained, the Parties have
reached the following agreement with respect to the sale by the Sellers of such
common stock of the Company to the Purchaser:

    

    Section
1. Construction and Interpretation

    

    1.1.
Principles of Construction.

     

                    (a)
All references to Articles, Sections, subsections and Appendixes are to
Articles, Sections, subsections and Appendixes in or to this Agreement unless
otherwise specified.  The words “hereof,” “herein” and “hereunder” and
words of similar import when used in this Agreement shall refer to this
Agreement as a whole and not to any particular provision of this
Agreement.  The term “including” is not limiting and means “including
without limitations.”

    

    (b) In
the computation of periods of time from a specified date to a later specified
date, the word “from” means “from and including;” the words “to” and “until”
each mean “to but excluding;” and the word “through” means “to and
including.”

    

    (c) The
Table of Contents hereto and the Section headings herein are for convenience
only and shall not affect the construction hereof.

    

    (d) This
Agreement is the result of negotiations among and has been reviewed by each
Party’s counsel.  Accordingly, this Agreement shall not be construed
against any Party merely because of such Party’s involvement in its
preparation.

    

    (e)
Wherever in this Agreement the intent so requires, reference to the neuter,
masculine or feminine shall be deemed to include each of the other, and
reference to either the singular or the plural shall be deemed to include the
other.

     

     

    -3-

     

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Section
2.  The Transaction

    

    2.1.
Purchase Price:

     

                   
The Sellers hereby agree to sell to the Purchaser, and the Purchaser, in
reliance on the representations and warranties contained herein, and subject to
the terms and conditions of this Agreement, agrees to purchase from the Sellers
8,850,000 common shares of Extreme Home Staging, Inc. (the “Acquired Shares”) for
a total  purchase price of $266,620  (the "Purchase Price"), to
be paid  in full to the Sellers according to the terms of this
Agreement, in United States currency as directed by the Sellers at
Closing.

    

    2.2.
Transfer of Shares and Terms of Payment:

    

                   
In consideration for the transfer of the Acquired Shares by the Sellers to the
Purchaser, the Purchaser shall pay  the Purchase Price upon
closing.

    

    ii) Upon
confirmation from Anslow & Jaclin,  Escrow attorney for
Sellers  that the  Payment in full, has
been  received in his Escrow Account, the Sellers shall deliver
to,  Brenton L. Horner, as escrow agent for Buyer, the certificates
for the Acquired Shares to be released to the Buyer immediately after the
payment in full by the Buyer is released to the Sellers from the Escrow Account
as per Sellers instructions.   The payment shall be non
refundable

    

     

    2.3.
Closing.

    

    Subject
to the terms and conditions of this Agreement, the Closing shall take place on
or  April 15, 2010.

     

     

    Section
3.  Additional Terms Pertaining to the Transaction

    

    3.1.
Irrevocable Agreement.

    

    Once
executed by the Parties, this Agreement will be irrevocable.  The
Sellers will have the obligation to sell the Acquired Shares to the Purchaser
and the Purchaser will have the obligation to purchase the Shares from the
Sellers strictly in accordance with this Agreement.

    

                                           

    Section
4.  Confidential Information

    

    4.1.
Confidential Information Defined.

    

                  
Any and all information furnished (whether before or after the date hereof) by
or on behalf of any Party to this Agreement, including, without limitation, by
such Party’s financial advisors, attorneys and accountants, or agents, to
another Party to this Agreement, or to such Party’s directors, officers,
employees, affiliates, representatives, including, without limitation, financial
advisors, attorneys and accountants, or agents shall be regarded as “Confidential
Information.” The term Confidential Information shall not, however,
include information which (i) is or becomes publicly available other than as a
result of a disclosure by the Party receiving such Confidential Information,
(ii) is or becomes available to a Party to this Agreement on a non-confidential
basis from a source (other than through another Party to this Agreement) which
is not prohibited from disclosing such information by a legal, contractual or
fiduciary.

     

    
      4

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

     

     

    obligation
to another Party, (iii) was available to, known by or within the possession of a
Party to this Agreement prior to its being furnished by (or on behalf of)
another Party, or (iv) is independently developed by or on behalf of a Party to
this Agreement not in violation of the terms of this Agreement.

     

    4.2. Confidentiality.

    

                  
The Parties undertake to keep any and all Confidential Information provided with
regard to this Agreement confidential and will not, without the other Party’s
prior written consent, disclose such Confidential Information in any manner
whatsoever and will not use any Confidential Information other than in
connection with this transaction; provided, however, that they
may reveal the Confidential Information to their respective representatives (a)
who need to know the Confidential Information (and who agree to use such
Confidential Information in accordance with this Agreement) for the purpose of
evaluating the transaction and (b) who are informed by the respective Party of
the confidential nature of the information provided.

    

    4.3.
Survival of Confidentiality.

    

    The
undertakings and representations made above shall survive the Closing Date and
shall expire for all purposes in the date numerically corresponding to the
Closing Date in the twelfth month after the Closing Date.

     

    Section
5.  Representations and Warranties

    

    5.1.
Representations and Warranties of the Sellers and the Company.

    

    5.1.1 The
Company is a corporation duly organized and validly existing under the laws of
the State of Nevada and has all corporate power necessary to engage in all
transactions in which it has been involved in as well as any general business
transactions in the future that may be desired by its directors.

    

    5.1.2 The
Company is in good standing with the Secretary of State of Nevada.

    

    5.1.3 The
Company has or will have at Closing no outstanding debt or obligations
whatsoever.  Should the Purchaser discover any obligation of the
Company that was not disclosed prior to the Closing Date, the Sellers undertake
to indemnify the Purchaser for any and all such liabilities, whether outstanding
or contingent at the time of Closing.

    

    The
undertakings and representations made above shall survive the Closing Date and
shall expire for all purposes in the date numerically corresponding to the
Closing Date in the twelfth month after the Closing Date.

    

    5.1.4 The
Company will have no assets or liabilities at the Closing Date.

    

    5.1.5 The
Company, to its actual knowledge, is not subject to any pending or threatened
litigation, claims or lawsuits from any party, and there are no pending or
threatened proceedings against the Company by any federal, state or local
government, or any department, board, agency or other body thereof.

    

    5.1.6 The
Company is not a party to any contract, lease or agreement which would subject
it to any performance or business obligations in the future after the closing of
this Agreement.

    

    5.1.7 The
Company does not own any real estate or any interests in real
estate.

    

    

    

    -5-

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    5.1.8 The
Company, to its actual knowledge, is not liable for any income, real or personal
property taxes to any governmental or state agencies whatsoever.

     

    5.1.9 The
Company, to its actual knowledge, is not in violation of any provision of laws
or regulations of federal, state or local government authorities and
agencies.

    

    5.1.10 The
Sellers, either directly or by representation, are the lawful owners of record
of the Acquired Shares, and the Sellers presently have, and will have at the
Closing Date, the power to transfer and deliver the Acquired Shares to the
Purchaser in accordance with the terms of this Agreement.  The
delivery to the Purchaser of certificates evidencing the transfer of the
Acquired Shares pursuant to the provisions of this Agreement will transfer to
the Purchaser good and marketable title thereto, free and clear of all liens,
encumbrances, restrictions and claims of any kind.

    

    5.1.11 There
are no authorized shares of the Company other than the amount disclosed as being
200,000,000 common shares and 10,000,000 preferred shares, and there are no
issued and outstanding shares of the Company other than the amount disclosed as
being 13,963,333  common shares.  Sellers at the Closing
Date will have full and valid title to the Shares consisting of
8,850,000  shares of the common stock of the Company and to be
delivered to the Purchaser by the Sellers hereunder, and there will be no
existing impediment or encumbrance to the sale and transfer of the Acquired
Shares to the Purchaser; and on delivery to the Purchaser of the Acquired Shares
being sold hereby, all of such Shares shall be free and clear of all liens,
encumbrances, charges or assessments of any kind; such Shares will be legally
and validly issued and fully paid and non-assessable shares of the Company’s
common stock; and all such common stock has been issued under duly authorized
resolutions of the Board of Directors of the Company.

    

    5.1.12 All
issuances of the Company of the shares in their common stock in past
transactions have been legally and validly effected, and all of such shares in
the common stock are fully paid and non-assessable.

    

    5.1.13 There
are no outstanding subscriptions, options, warrants, convertible securities or
rights or commitments of any nature in regard to the Company’s authorized but
unissued common stock except as noted in Schedule A.

    

    5.1.14 There
are no outstanding judgments of UCC financing instruments or UCC Securities
Interests filed against the Company or any of its properties.

    

    5.1.15 The
Company will have no subsidiaries subsequent to the date of
Closing.

    

    5.1.16 The
Company has no employment contracts or agreements with any of its officers,
directors, or with any consultants, employees or other such
parties.

    

    5.1.17 The
Company has no insurance or employee benefit plans whatsoever.

    5.1.18 The
Company is not in default under any contract, or any other
document.

    

    5.1.19 The
Company has no outstanding powers of attorney and no obligations concerning the
performance of the Sellers concerning this Agreement.

    

    5.1.20 The
execution and delivery of this Agreement, and the subsequent closing thereof,
will not result in the breach by the Company or the Sellers of any agreement or
other instrument to which they are or have been a party.

     

     

    

    -6-

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    5.1.21 To
the Sellers’ actual knowledge, all financial and other information which the
Company and/or the Sellers furnished or will furnish to the Purchaser, including
information with regard to the Company and/or the Sellers (i) is true, accurate
and complete as of its date and in all material respects except to the extent
such information is superseded by information marked as such, (ii) does not omit
any material fact, not misleading and (iii) presents fairly the financial
condition of the organization as of the date and for the period covered
thereby.

    

    5.1.22 The
representations and warranties herein by the Sellers shall be true and correct
in all material respects on and as of the Closing Date hereof with the same
force and effect as though said representations and warranties had been made on
and as of the Closing Date.

    

    5.2.
Covenants of the Sellers and the Company.

    

    From the
date of this Agreement to Closing Date, the Sellers and the Company covenant the
following:

    

    5.2.1. The
Sellers will to the best of their ability preserve intact the current status of
the Company as an OTC Bulletin Board quoted company.

    

    5.2.2. The
Sellers will furnish Purchaser with whatever corporate records and documents are
available, such as Articles of Incorporation and Bylaws, or any other corporate
document or record requested by the Purchaser.

    

    5.2.3. The
Company will not  incur any further debts or obligations without the
express written consent of the Purchaser.

    

    5.2.4. The
Company will not amend or change its Articles of Incorporation or Bylaws, or
issue any further shares or create any other class of shares in the Company
without the express written consent of the Purchaser.

    

    5.2.5. The
Company will not issue any stock options, warrants or other rights or interests
in or to its shares without the express written consent of the
Purchaser.

    

    5.2.6. The
Sellers will not encumber or mortgage any right or interest in their shares of
the common stock being sold to the Purchaser hereunder, and also they will not
transfer any rights to such shares of the common stock to any third party
whatsoever.

    

    5.2.7. The
Company will not declare any dividend in cash or stock, or any other
benefit.

    

    5.2.8. The
Company will not institute any bonus, benefit, profit sharing, stock option,
pension retirement plan or similar arrangement.

    

    5.2.9. The
Sellers will obtain and submit to the Purchaser resignations of current officers
and directors.

    

    5.2.10. The
Sellers agree to indemnify the Purchaser against and to pay any loss, damage,
expense or claim or other liability incurred or suffered by the Purchaser by
reason of the inaccuracy of any warranty or representation contained in this
Agreement.

     

     

    -7-

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

               

    

        
5.3 Representations and Warranties of the Purchaser.

    

    5.3.1 Authorization
and Power.  Such Purchaser has the requisite power and authority to
enter into and perform this Agreement and to purchase the shares being sold
to it hereunder.  The execution, delivery and performance of this
Agreement by such Purchaser and the consummation by it of the transactions
contemplated hereby and thereby have been duly authorized by all necessary
corporate or partnership action, and no further consent or authorization of such
Purchaser or its Board of Directors, stockholders, partners, members, as the
case may be, is required.  This Agreement has been duly authorized,
executed and delivered by such Purchaser and constitutes, or shall constitute
when executed and delivered, a valid and binding obligation of such Purchaser
enforceable against such Purchaser in accordance with the terms
thereof.

    

    5.3.2 Information
on Purchaser.   Purchaser is, and will be at the time of the
execution of this Agreement, an "accredited investor", as such
term is defined in Regulation D promulgated by the Commission under the 1933
Act, is experienced in investments and business matters, has made investments of
a speculative nature and has purchased securities of United States
publicly-owned companies in the past and, with its representatives, has such
knowledge and experience in financial, tax and other business matters as to
enable such Purchaser to utilize the information made available by the Company
to evaluate the merits and risks of and to make an informed investment decision
with respect to the proposed purchase, which represents a speculative
investment.  Such Purchaser has the authority and is duly and legally
qualified to purchase and own shares of the Company.  Such Purchaser
is able to bear the risk of such investment for an indefinite period and to
afford a complete loss thereof.  The information set forth on the
signature page hereto regarding such Purchaser is accurate.

    

    5.3.3 Purchase
of Shares of the Company.  On the Closing Date, such Purchaser will
purchase the Acquired Shares pursuant to the terms of this Agreement for its own
account for investment only and not with a view toward, or for resale in
connection with, the public sale or any distribution thereof.

    

    5.3.4 Compliance
with Securities Act.   Such Purchaser understands and agrees that
the Acquired Shares have not been registered under the 1933 Act or any
applicable state securities laws, by reason of their issuance in a transaction
that does not require registration under the 1933 Act (based in part on the
accuracy of the representations and warranties of the Purchaser contained
herein), and that such Acquired Shares must be held indefinitely unless a
subsequent disposition is registered under the 1933 Act or any applicable state
securities laws or is exempt from such registration.  In any event,
and subject to compliance with applicable securities laws, the Purchaser may
enter into lawful hedging transactions in the course of hedging the position
they assume and the Purchaser may also enter into lawful short positions or
other derivative transactions relating to the Acquired Shares, or interests in
the Acquired Shares, and deliver the Acquired Shares, or interests in the
Acquired Shares, to close out their short or other positions or otherwise settle
other transactions, or loan or pledge the Acquired Shares, or interests in the
Acquired Shares, to third parties who in turn may dispose of these Acquired
Shares.

     

     

    -8-

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    5.3.5 Acquired
Shares.  The Acquired Shares shall bear the following or similar
legend:

    

    "THE ISSUANCE AND SALE OF THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, NOR APPLICABLE STATE SECURITIES
LAWS.  THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED
OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR
THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION
OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY
ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS
SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID
ACT.  NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN
CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING
ARRANGEMENT SECURED BY THE SECURITIES."

    

    5.3.6 Communication
of Offer.  The offer to sell the Acquired Shares was directly
communicated to such Purchaser by the Company.  At no time was such
Purchaser presented with or solicited by any leaflet, newspaper or magazine
article, radio or television advertisement, or any other form of general
advertising or solicited or invited to attend a promotional meeting otherwise
than in connection and concurrently with such communicated offer.

    

    5.3.7 Correctness
of Representations.  Such Purchaser represents that the foregoing
representations and warranties are true and correct as of the date hereof and,
unless such Purchaser otherwise notifies the Company prior to the Closing Date
shall be true and correct as of the Closing Date.

    

    5.3.8 Survival.  The
foregoing representations and warranties shall survive the Closing Date and for
a period of 3 years thereafter.

     

    Section
6.  Miscellaneous

    

    6.1.
Expenses.

    

    Each of
the Parties shall bear its/his own expenses in connection with the transactions
contemplated by this Agreement.

    

    6.2.
Governing Law.

    

    The
interpretation and construction of this Agreement, and all matters relating
hereto, shall be governed by the laws of the State of Nevada applicable to
agreements executed and to be wholly performed solely within such
state.

     

    

    

    

     

    

    

    -9-

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    6.3.
Resignation of Old and Appointment of New Board of Directors.

    

                   
The Company and the Sellers shall take such corporate action(s) required by
Extreme Home Staging, Inc.,  Incorporation and/or Bylaws to (a)
appoint the below named persons to their respective positions, to be effective
as of the Closing Date, and (b) obtain and submit to the Purchaser, together
with all required corporate action(s) the resignation of the current board of
directors, and any and all corporate officers as of the Closing
Date.

    

    

    Resignation
of Old Director

    

    
      	
              Name

            	
              Position

            
	
              Milka
      Fixler

            	
              CEO,
      President & Director

            

    

    

                                                       

                                                        Appointment
of New Director & Sole Officer 

    

    

    

    

    

    
      	
              Name

            	
              Position

            
	
              Marckensie
      Theresias

            	
              CEO,
      President & Director, Secretary,

              Chief
      Accounting Officer

            
	 
      	 
      
	 
      	 
      

    

    

    6.4.
Disclosure.

     

                  
The Sellers and the Company agree that except of the 8K filing they will not
make any public comments, statements, or communications with respect to, or
otherwise disclose the execution of this Agreement or the terms and conditions
of the transactions contemplated by this Agreement without the prior written
consent of the Purchaser, which consent shall not be unreasonably
withheld.

     

    6.5.
Notices.

    

    Any
notice or other communication required or permitted under this Agreement shall
be sufficiently given if delivered in person or sent by facsimile or by
overnight registered mail, postage prepaid, addressed as follows:

    

    If to
Sellers, to:

    

    Milka
Fixler

    4507
15th
Ave.

    Brooklyn,
NY 11219

    Tel:  917-543-3699

    

    

    -10-

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    Escrow
Agent

    

    Anslow
& Jaclin, LLP

    Manalapan
Corporate Plaza

    195 Route
9 South, Suite 204

    Manalapan,
New Jersey 07726

    Tel:  (732)
409-1212

    Fax:  (732)
577-1188

    

     Copy
to:

    

    The Hyett
Group, Ltd

    1510 51
St.

    Brooklyn,
NY 11219

    Tel:  718-435-5291

    Fax:  718-972-6196

    Email:  hyett1@msn.com

    

    If to the
Purchaser, to:

    

    Marckensie
Theresias,

    C/O  Brenton
L Horner, ESQ.

    Horner
& Associates

    205
So  Broadway suite 905

    Los
Angeles, CA    90012

    213-680-1716

    

    

    Escrow
Agent:

    

    Brenton L
Horner, ESQ.

    Horner
& Associates

    205
So  Broadway suite 905

    Los
Angeles, CA    90012

    213-680-1716

    

    Or such
other address or number as shall be furnished in writing by any such Party, and
such notice or communication shall, if properly addressed, be deemed to have
been given as of the date so delivered or sent by facsimile.

     

    6.6.
Parties in Interest.

    

    This
Agreement may not be transferred, assigned or pledged by any Party hereto, other
than by operation of law.  This Agreement shall be binding upon and
shall inure to the benefit of the Parties hereto and their respective heirs,
executors, administrators, successors and permitted assigns.

    

    6.7.
Entire Agreement.

    

                  
This Agreement and the other documents referred to herein contain the entire
understanding of the Parties hereto with respect to the subject matter contained
herein. This Agreement shall supersede all prior agreements and understandings
between the Parties with respect to the transactions contemplated
herein.

    

    6.8.
Amendments.

    

    -11-

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    This
Agreement may not be amended or modified orally, but only by an agreement in
writing signed by the Parties.

    

    

    6.9.
Severability.

    

    In case
any provision in this Agreement shall be held invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions hereof
will not in any way be affected or impaired thereby.

     

      

    6.10.
Counterparts.

    

    This
Agreement may be executed in any number of counterparts, including counterparts
transmitted by telecopier or facsimile transmission, any one of which shall
constitute an original of this Agreement.  When counterparts of
facsimile copies have been executed by all parties, they shall have the same
effect as if the signatures to each counterpart or copy were upon the same
document and copies of such documents shall be deemed valid as
originals.  The Parties agree that all such signatures may be
transferred to a single document upon the request of any Party.

    

                   
6.11. Spin out.

    

                   
At or prior to the Closing Date, the website of Extreme Home Staging, Inc. shall
be spun out of the Company.

    

    .

    In Witness
Whereof, each of the Parties hereto has caused its/his name to be
hereunto subscribed as of the day and year first above written.

    

     

    
      	
              Company:

            	
              By:
      /s/ Milka Fixler

              Name:
      Extreme Home Staging, Inc. .

              Title:
      Milka Fixler, President & CFO

            
	 
      	 
      
	
              Seller:

            	
              By:
      /s/ Milka Fixler

                       Milka
      Fixler, Individually

            
	 
      	 
      
	
              Seller:

            	
              By:
      /s/ Esther Ackerman

                         Esther
      Ackerman, Individually

            

    

     

    

    

    

     

    
      	 
      	 
      
	
              Purchaser:

            	
              By:
      /s/ Marckensie Theresias

                     Marckensie
      Theresias

            
	 
      	 
      

    

     

    

    

    

    

    

    

    

    -12-

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    SCHEDULE
A

    

    

    

    Common
Stock Purchase Warrants

    

    1,113,333
Series A Warrants exercisable @ .50

    1,113,333
Series A Warrants exercisable @ $1.00

    

    The
Underlying Common Shares of both Series of Warrants have been
registered.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00172-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00172-of-00352.parquet"}]]