Attached files
| file | filename |
|---|---|
| 8-K/A - Solanbridge Group, Inc. | v207934_8ka.htm |
| EX-99.1 - Solanbridge Group, Inc. | v207934_ex99-1.htm |
Wednesday,
January 5, 2011
SOLANEX
MANAGEMENT INC.
ATTN: Mr.
David J. Eckert
3820 Boca
Chica Avenue
Las
Vegas, Nevada 89120-2056
(702)
932-1576
Re: Letter of Intent
Dear Mr.
Eckert:
This
binding letter of intent (“Letter of Intent”) hereby states the intentions of
Corbridge Group, Inc., a Texas corporation, (hereinafter “Corbridge”) and
Solanex Management Inc., a Nevada corporation (Entity Number C27331-2000),
(hereinafter “Solanex”) in relation to an asset purchase transaction
(hereinafter “Transaction”) which involves Solanex acquiring various assets of
Corbridge. Solanex will tender unregistered shares of common stock,
$0.001 par value per share, of Solanex (the “Shares”) from Solanex’s treasury in
exchange for the assets of Corbridge.
The
Corbridge assets to be purchased in the Transaction are: (1) any and
all of the contracts and other assets previously held by EIT Telecom, Inc., a
Delaware subsidiary of Corbridge and contributed to Corbridge, (2) the loans
previously held by Pedernales River Capital Holdings, Inc., a Colorado
subsidiary of Corbridge and contributed to Corbridge, (3) the telecom assets
previously held by Corbridge Communications, Inc., a Colorado subsidiary of
Corbridge and contributed to Corbridge, and (4) Corbridge’s option to purchase
certain real estate assets, which consists of (a) an 191 unit apartment complex
on Cambridge Street in Las Vegas, Nevada and (b) two four-story apartment
buildings (43 units total) in Brooklyn, New York (hereinafter, the
“Assets”).
In
exchange for the Assets, Solanex will issue thirty (30) million Shares to
Corbridge and/or parties designated by Corbridge (e.g., the current owners of
the Las Vegas and Brooklyn real estate properties) at four cents (4¢) a
share. The Shares to be issued will represent sixty-six (66%) of the
issued and outstanding shares of Solanex.
On the
date of the close of the Transaction, Mr. Charles R. Shirley, Mr. Earle G.
Hickey, Mr. Joseph Curci and Ms. Rosalia Miray will be appointed to the Board of
Directors of Solanex and Mr. David J. Eckert will resign. The
Transaction documents shall contain standard representations and warranties,
covenants and indemnification.
If you
are in full agreement with the terms of this binding Letter of Intent please
sign in the space provided below and fax it back to me at (832) 201-0892. Thank
you for your attention to this matter. If you have any questions,
please feel free to call me on (832) 225-1372.
Best
regards,
CORBRIDGE
GROUP, INC.
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/s/
CHARLES R SHIRLEY
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Charles
R. Shirley, J.D.
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Chief
Executive Officer
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| AGREE:
SOLANEX
MANAGEMENT INC.
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/s/ DAVID J ECKERT | |
| David J. Eckert | |||
| Chief Financial Officer |
11811
North Freeway, Suite 500
Houston,
Texas 77060-3287