SEC Contract Filing

Filing Date: 2016-05-17

Document Content:
<DOCUMENT>
<TYPE>EX-10.31
<SEQUENCE>20
<FILENAME>artec_ex1031.htm
<DESCRIPTION>SECURITIES PURCHASE AGREEMENT
<TEXT>
<html><head><title>artec_ex1031.htm</title><!--Document Created by EDGARMaster--></head><BODY style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN; MARGIN: 0px 7%" scroll="yes"><p style="MARGIN: 0px" align="right"><b><font size="2">EXHIBIT 10.31</font></b></p><p style="MARGIN: 0px" align="center"><b><font size="2"></font></b>&nbsp;</p><p style="MARGIN: 0px" align="center"><b><font size="2">SECURITIES PURCHASE AGREEMENT</font></b></p><p style="MARGIN: 0px" align="center"><strong>&nbsp;</strong>&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px"><font size="2">This <b>SECURITIES PURCHASE AGREEMENT</b> (the "Agreement"), dated as of May 3, 2016, by and between </font><b><font size="2">Artec Global Media, Inc.</font></b><font size="2">, a Nevada corporation, with headquarters located at 1000 E. William Street, Suite 204, Carson City, NV 89701(the "Company"), and <b>CERBERUS FINANCE GROUP LTD</b>, with its address at </font><font size="2">Craigmuir Chambers, Road Town, Tortola, VG 1110, British Virgin Islands (the Buyer").</font></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="center"><b><font size="2">WHEREAS</font></b><font size="2">:</font></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px"><font size="2">A. The Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the "SEC") under the Securities Act of 1933, as amended (the "1933 Act");</font></p><p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px"><font size="2">B. Buyer desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement two 8% secured convertible notes of the Company, in the forms attached hereto as Exhibit A, and B, in the aggregate principal amount of $70,000.00 (with the first note being in the amount of $35,000 and the second note being in the amount of $35,000.00) (together with any note(s) issued in replacement thereof or as a dividend thereon or otherwise with respect thereto in accordance with the terms thereof, the "Note"), convertible into shares of common stock, of the Company (the "Common Stock"), upon the terms and subject to the limitations and conditions set forth in such Note. The first of two notes (the "First Note") shall be paid for by the Buyer as set forth herein. The second of the four notes (the "Second Note") shall initially be paid for by the issuance of an offsetting $35,000.00 secured note issued to the Company by the Buyer ("Buyer Note"). </font></p><p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px"><font size="2">C. The Buyer wishes to purchase, upon the terms and conditions stated in this Agreement, such principal amount of Note as is set forth immediately below its name on the signature pages hereto; and</font></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px"><b><font size="2">NOW THEREFORE</font></b><font size="2">, the Company and the Buyer severally (and not jointly) hereby agree as follows:</font></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 90px"><font size="2">1. <u>Purchase and Sale of Note.</u></font></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 135px"><font size="2">a. <u>Purchase of Note</u>. On the Closing Dates (as defined below), the Company shall issue and sell to the Buyer and the Buyer agrees to purchase from the Company such principal amount of Note as is set forth immediately below the Buyer's name on the signature pages hereto. <p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table id="pagebreak2aa3c77a-f953-4796-a78f-079456740ea4" class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0"> <tr><td class="hpbhr">&nbsp;</td></tr><tr><td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center">1</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p> &nbsp;</font></p><p style="MARGIN: 0px; TEXT-INDENT: 135px"><font size="2">b. <u>Form of Payment</u>. On the Closing Dates (as defined below), (i) the Buyer shall pay the purchase price for the Note to be issued and sold to it at the Closing (as defined below) (the "Purchase Price") by wire transfer of immediately available funds to the Company, in accordance with the Company's written wiring instructions, against delivery of the Note in the principal amount equal to the Purchase Price as is set forth immediately below the Buyer's name on the signature pages hereto, and (ii)&nbsp;the Company shall deliver such duly executed Note on behalf of the Company, to the Buyer, against delivery of such Purchase Price. </font></p><p style="MARGIN: 0px; TEXT-INDENT: 135px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 135px"><font size="2">c. <u>Closing Date</u>. The date and time of the first issuance and sale of the Note pursuant to this Agreement (the "Closing Date") shall be on or about May 3, 2016, or such other mutually agreed upon time. The closing of the transactions contemplated by this Agreement (the "Closing") shall occur on the Closing Date at such location as may be agreed to by the parties. The closing of the transactions contemplated by this Agreement (the "Closing") shall occur on the Closing Date at such location as may be agreed to by the parties. Subsequent Closings shall occur when the Buyer Note is repaid. The Closing of the Second Note shall be on or before the dates specified in the Buyer Note. The Closing of the Second Note, shall be contingent on the following conditions: (i) the Company shall be current in its