SEC Contract Filing

Filing Date: 2016-11-02

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>s104494_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Exhibit 10.1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SALES AND PURCHASE AGREEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Sales and Purchase Agreement (&ldquo;Agreement&rdquo;),
made on this 27<SUP>th</SUP> day of October, 2016, by and among <B>Balincan International Inc.</B>, a corporation organized under
the laws of Nevada (the &quot;Company&quot; or &ldquo;Buyer&rdquo;), with its principal place of business at 3773 Howard Hughes
Pkwy Ste 500S, Las Vegas, United States, and <B>BKG International Limited (Formerly known as Getabed Company Limited)</B>(&ldquo;ACQUIRED
COMPANY&rdquo;), a Hong Kong limited company, with its principal place of business at 11/F Johnson Industrial Mansion, 340 Kwun
Tong Road, Kowloon, Hong Kongand <B>Matthew Pau</B> (&ldquo;Seller&rdquo;), an individual with an address of Flat A, 29/F, Block
1, The Zenith, 3 Wanchai Road, Wan Chai, Hong Kong.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company and Seller desire to enter
into a transaction whereby the Company acquires 100% of the shares of ACQUIRED COMPANY (the &ldquo;Shares&rdquo;) from Seller,
in exchange for an aggregate $35,000 dollars, to be paid in the form of cash (the &ldquo;Purchase Price&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Terms of Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In consideration of
the mutual promises, covenants and representations contained herein, the parties herewith agree as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ARTICLE I</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ACQUISITION TERMS</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Acquisition</U>.
The Company will acquire 100% of the Shares and all preexisting assets and with all preexisting liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compensation</U>.
In exchange, Seller shall receive $35,000 on or about October 31, 2016.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Closing</U>.
The Closing of this transaction will take place upon the &ldquo;Instrument of Transfer&rdquo; being stamped by the Stamp Office
at the Inland Revenue Department in Hong Kong with the appropriate Stamp Duties paid, as per Section 1.03 below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Post-Closing
Operations</U>. After the Closing, ACQUIRED COMPANY will be a wholly-owned subsidiary of the Company subject to the terms and conditions
outlined in this Agreement. ACQUIRED COMPANY shall be responsible to report to the Company all financial matters and newsworthy
events as they materialize, as Seller and ACQUIRED COMPANY recognize that Company is a publicly traded company and has certain
material obligations of disclosure pursuant to state and federal laws, statutes and regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Stamp
Duties</U>. At the Closing, Seller shall pay Hong Kong stamp duties, equal to two percent (2%) for the change of ownership.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ARTICLE II</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">REPRESENTATIONS AND WARRANTIES OF THE COMPANY/Buyer</P>

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