THIS MEMORANDUM OF UNDERSTANDING AND INTENT (MOUI) IS MADE THIS 13TH DAY OF NOVEMBER, 2007 BETWEEN
THIS
MEMORANDUM OF UNDERSTANDING AND INTENT (MOUI)
IS
MADE THIS 13TH
DAY OF NOVEMBER, 2007 BETWEEN
Megola
Inc.,
a
corporation incorporated under the laws of Nevada with its principal office
in
the city of Xxxxxxx, Xxxxxxx, Xxxxxx hereinafter shall be referred in this
Memorandum as the vender (the “Vendor”)
-and-
6841309
CANADA INC. (HAZMAT4U)
a
corporation incorporated under the laws of the Canada Business Corporations
Act,
with its principal office in the city of Xxxxxx, Xxxxxxx, Xxxxxx, hereinafter
referred in this Memorandum as (the “Purchaser”) wherein the Vendors and the
purchaser shall be jointly referred in this memorandum as (the
“Parties”)
6841309
CANADA INC.
is
interested in:
| · |
Exclusive
use of the Hartindo AF11E halon replacement, AF21 Fire Inhibitor,
and AF31
Multi-use Fire Extinguishant products (the “Products”), including all
improvements and modifications thereto, for the purpose of use,
application, and sales in the Hazardous materials and Fire and Emergency
services industries, and other related industries, as agreed upon
by the
Parties, in Canada (the
“Territory”).
|
| · |
Said
exclusivity in the Territory being for an initial period of five
(5) years
with an option for a further five (5) years at the sole discretion
of
6841309 Canada Inc.
|
MEGOLA
Inc.
is
interested in:
| · |
Supplying
6841309 CANADA INC. with the Hartindo AF11E, AF21 and AF31 fire
suppression and inhibitor products, on an exclusive basis in the
Territory
for utilization in the industries as described above, for the purpose
of
use, application and resale only.
|
The
PARTIES
agree
that:
| · |
Megola
Inc shall provide any compulsory certificates of testing and analysis
of
the Products required to satisfy all Canadian standards and necessary
health, safety and environmental
laws.
|
| · |
Megola
Inc. shall provide the Products at a reasonable wholesale marketable
rate,
to remain competitive, and ensure adequate supply of such in a timely
manner to satisfy market demand.
|
| · |
6841309
Canada Inc. shall provide its marketing and industry expertise to
penetrate the Hazardous materials and Fire and Emergency Services
markets,
on a timely basis, and provide all of the necessary field testing,
demonstrations and professional expertise as and when required at
its
discretion, for distribution to
such.
|
The
forgoing memorandum of understanding and intent is accepted, approved and agreed
to by Megola Inc., this 13th
day of
November, 2007
By_________________________
Name:
Xxxx Xxxxxxx
Title:
President & CEO
The
forgoing memorandum of understanding and intent is accepted, approved and agreed
to by 6841309 Canada Inc. this 13th
day of
November 2007
6841309
Canada Inc.
By__________________________
Name:
Xxxxx Xxxxxxxx
Title:
President & CEO
