Cancellation Agreement between China Armco Metals, Inc. and Feng Gao regarding June 25, 2008 Promissory Note

Contract Categories: Business Finance › Note Agreements
Summary

This agreement confirms that Feng Gao agrees to cancel a promissory note dated June 25, 2008, with a principal amount of $6,890,000, which was issued by China Armco Metals, Inc. for the purchase of 5,300,000 shares of the company's common stock. The cancellation is related to a stock option agreement between the company and Feng Gao. The agreement is effective as of August 13, 2008.

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EX-10.9 3 fs1ex10_ea3chinaarmco.htm CANCELLATION AGREEMENT fs1ex10_ea3chinaarmco.htm
Exhibit 10.1
 
CANCELATION AGREEMENT
 
This will confirm that I hereby agree to cancel the June 25, 2008 Promissory Note in the principal amount of $6,890,000.00 executed by China Armco Metals, Inc. (f/k/a Cox Distributing, Inc.), a Nevada corporation (the "Company") in payment of the purchase of the 5,300,000 shares of the Company's Common Stock, $.001 par value per share (the "Shares") pursuant to the attached Exercise Notice delivered pursuant to the Stock Option Agreement dated June 27, 2008 entered into between the Company and Feng Gao.
 
/s/ Feng Gao
Feng Gao
 
Dated: 8/13/08