Agreement made on September 30, 2003
between Xxxxxx Xxxxxxxx, with offices located at General Guisan – Xxxx 00, XX-0000
Xxxxxxxxxxx, referred to as Creditor and Healthbridge, Inc. with offices located at
0000-0000 Xxxx Xxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxx Xxxxxxxx X0X 0X0 referred to as Debtor.
OF EXISTING OBLIGATION
The parties acknowledge that Debtor
is at present indebted to Creditor as the result of loans extended by Creditor in the sum
of $99,000, consulting services rendered in the sum of $60,000 and expenses paid by
Creditor on behalf of Debtor in the sum of $40,000 prior to December 31, 2002, and
expenses paid on behalf of Debtor in the sum of $7,500 prior to September 30, 2003 with
the agreement that the repayment or loans, the payment of consulting fees or the repayment
of expenses could be made either in cash or in shares of Debtor’s common stock.
In consideration of the prior mutual
agreements recited in this Agreement, Debtor and Creditor agree as follows:
Method of Payment: Debtor agrees to pay to Creditor and Creditor agrees
to accept from Debtor, in full satisfaction of the indebtedness described in
Section One, above, 1,032,500 shares of Debtor’s common stock, valued at
$0.20 a share, as consideration for monies owed to Creditor as a result of loans
provided, consulting services rendered, expenses paid by Creditor for Debtor.
Satisfaction: On execution of this Agreement and Debtor’s board of
directors resolution authorizing the issuance and delivery of 1,032,500 shares
of Debtor’s common stock to Creditor provided for in Section Two (a) above,
the original indebtedness of Debtor to Creditor, as described in Section One,
above, will be forever cancelled and discharged.
In witness whereof, the parties have
executed this Agreement in Vancouver, British Columbia on the date first mentioned above.
/s/ Xxxx Xxxxxxx
By: Xxxx Xxxxxxx,
/s/ Xxxxxx Xxxxxxxx