SEC Contract Filing

Filing Date: 2017-04-25

Document Content:
<DOCUMENT>
<TYPE>EX-10.11
<SEQUENCE>12
<FILENAME>exhibit10-11.htm
<DESCRIPTION>EXHIBIT 10.11
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<P align=center><B>SECURITIES PURCHASE AGREEMENT </B></P>
<P align=justify>This <B>SECURITIES PURCHASE AGREEMENT</B> (the &#147;Agreement&#148;),
dated as of March 28, 2017, by and between <B>Lithium Exploration Group, Inc.,
</B>a Nevada corporation, with headquarters located at 3800 North Central
Avenue, Suite 820, Phoenix, AZ 85012, (the &#147;Company&#148;), and Concord Holding
Group, LLC, A New York limited liability company with its executive offices
located at 1080 Bergen St., Suite 280, Brooklyn, NY 11216 (the &#147;Buyer). </P>
<P align=center><B>WHEREAS</B>:</P>
<P align=justify style="text-indent:5%">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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 &#147;SEC&#148;) under the Securities Act of 1933, as amended (the &#147;1933
Act&#148;);</P>
<P align=justify style="text-indent:5%">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Buyer desires to purchase and the Company desires to issue and sell, upon the
terms and conditions set forth in this Agreement a 10% convertible note of the
Company, in the form attached hereto as Exhibit A in the aggregate principal
amount of $141,680.00 which shall contain a $12,880.00 OID such that the
issuance price shall be $128,800.00 plus interest and penalties if any become
due and payable on March 28, 2018, convertible into shares of common stock,
$0.001 par value per share, of the Company (the &#147;Common Stock&#148;), upon the terms
and subject to the limitations and conditions set forth in such Note.</P>
<P align=justify style="text-indent:5%">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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</P>
<P align=justify style="text-indent:5%"><B>NOW THEREFORE</B>, the Company
and the Buyer severally (and not jointly) hereby agree as follows:</P>
<P align=justify style="text-indent:10%">
1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Purchase and Sale of
Note.</U> </P>
<P align=justify style="text-indent:15%">
a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Purchase of
Note</U>. On the Closing Date (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 the Note as is set forth immediately below the Buyer&#146;s name
on the signature pages hereto. </P>
<P align=justify>_____ <BR>Company Initials </P>
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b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Form of Payment</U>.
On the Closing Date (as defined below), the (A) Buyer shall (i) pay the purchase
price for the Note to be issued and sold to it at the Closing (as defined below)
(the &#147;Purchase Price&#148;) by wire transfer of immediately available funds to the
Company, in accordance with the Company&#146;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&#146;s name on the signature pages hereto and
(B) the Company shall deliver such duly executed Note on behalf of the Company,
to the Buyer, against delivery of such Purchase Price and Buyer Note.</P>
<P align=justify style="text-indent:15%">
c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Closing Date</U>.
The date and time of the first issuance and sale of the Note pursuant to this
Agreement (the &#147;Closing Date&#148;) shall be on or about March 28, 2017, or such
other mutually agreed upon time.</P>
<P align=justify style="text-indent:10%">
2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Buyer&#146;s
Representations and Warranties. </U>The Buyer represents and warrants to the
Company that:</P>
<P align=justify style="text-indent:15%">
a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Investment
Purpose</U>. As of the date hereof, the Buyer is purchasing the Note and the
shares of Common Stock issuable upon conversion of or otherwise pursuant to the
Note, such shares of Common Stock being collectively referred to herein as the
&#147;Conversion Shares&#148; and, collectively with the Note, the &#147;Securities&#148;) for its
own account and not with a present view towards the public sale or distribution
thereof, except pursuant to sales registered or exempted from registration under
the 1933 Act; <U>provided</U>, <U>however</U>, that by making the
representations herein, the Buyer does not agree to hold any of the Securities
for any minimum or other specific term and reserves the right to dispose of the
Securities at any time in accordance with or pursuant to a registration
statement or an exemption under the 1933 Act. </P>
<P align=justify style="text-indent:15%">
b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Accredited Investor
Status</U>. The Buyer is an &#147;accredited investor&#148; as that term is defined in
Rule 501(a) of Regulation D (an &#147;Accredited Investor&#148;). </P>
<P align=justify style="text-indent:15%">
c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Reliance on
Exemptions</U>. The Buyer understands that the Securities are being offered and
so