Share Purchase Agreement with Fullead Overseas Limited dated July 7, 2009

A.  

Fullead wishes to acquire a controlling interest of PWRX, a company quoted on the OTCBB under the symbol PWRX.OB for total consideration of US$65,000.

1.

PWRX represents that currently there are 38,043,000 common shares issued and outstanding and no other securities issued or outstanding.

2.

Fullead shall subscribe for a private placement of newly issued 32,500,000 common shares of PWRX for a price of US$65,000.

3.

It shall be a condition precedent to closing and this Agreement being effective that:

a) 

Fullead shall deposit US$65,000 into PWRX’s lawyer’s trust account to be held until closing; and

b) 

30,800,000 common shares of PWRX shall be cancelled.

4.

At closing:

 

a)

all outstanding liabilities (including but not limited to contingent liabilities) of PWRX shall be extinguished (using $15,000 of this $65,000 private placement with $10,000 being transferred to repay a currently outstanding shareholder loan);

 

b)

$50,000 of this private placement shall be transferred to PWRX’s lawyer as an initial payment for a $75,000 flat fee for all legal work related to the change of control and any upcoming merger; and

 

c)

the number of members of the Board of Directors of PWRX shall be increased to 2, and Darrin Zinger shall appoint as a director an individual designated by Fullead, and then shall resign as an officer and director of PWRX.

5.

No amendment.  This Agreement may not be amended without the written consent of each party hereto.

6.

Presumption.  This Agreement or any section thereof shall not be construed against any party due to the fact that said Agreement or any section thereof was drafted by said party.

7.

Titles and Captions.  All article, section and paragraph titles or captions contained in this Agreement are for convenience only and shall not be deemed part of the context nor affect the interpretation of this Offer.

8.

Further Action.  The parties hereto shall execute and deliver all documents, provide all information and take or forbear from all such action as may be necessary or appropriate to achieve the purposes of this Offer.

9.

Good Faith, Cooperation and Due Diligence.  The parties hereto covenant, warrant and represent to each other good faith, complete cooperation, due diligence and honesty in fact in the performance of all obligations of the parties pursuant to this Offer.  All promises and covenants are mutual and dependent.

10.

Savings Clause.  If any provision of this Offer, or the application of such provision to any person or circumstance, shall be held invalid, the remainder of this Offer, or the application of such provision to persons or circumstances other than those as to which it is held invalid, shall not be affected thereby.

11.

Assignment.  This Agreement may not be assigned by either party hereto without the written consent of the other, but shall be binding upon the successors of the parties.

12.

Notices.  All notices required or permitted to be given under this Agreement shall be given in writing and shall be delivered, either personally or by express delivery service, to the party to be notified.  Notice to each party shall be deemed to have been duly given upon delivery, personally or by courier, addressed to the attention of the officer at the address set forth heretofore, or to such other officer or addresses or by such other means as either party may designate, upon at least five days written notice, to the other party.

13.

Entire Offer.  This Agreement and the attached Exhibit A contain the entire understanding and Agreement among the parties. There are no other Offers, conditions or representations, oral or written, express or implied, with regard thereto. This Agreement may be amended only in writing signed by all parties.

14.

Waiver.  A delay or failure by any party to exercise a right under this Offer, or a partial or single exercise of that right, shall not constitute a waiver of that or any other right.

15.

Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same Offer.  In the event that the document is signed by one party and faxed to another the parties agree that a faxed signature shall be binding upon the parties to this Agreement as though the signature was an original.

16.

Counsel.  The parties expressly acknowledge that each has been advised to seek separate counsel for advice in this matter and has been given a reasonable opportunity to do so.

17.

Termination.  If the funds contemplated by Section 2(a) of this Agreement are not deposited into the PWRX’s counsel’s trust account by July 10, 2009 this Agreement will automatically terminate.

Per: /s/ Li Bin

Authorized Signatory

Date: July 2, 2009

Per: /s/ Darrin Zinger

Darrin Zinger, CEO

Date: July 2, 2009

 

G23999331                                                          

Tax ID or social insurance number

 

Fullead Overseas Limited                                 

Name of Subscriber

 

 

 

Signature of Individual Subscriber or Authorized Signatory of Subscriber (if Subscriber is not an individual)

 

 

________________________________________                                                          

Number and type of securities of the Company directly and indirectly held by the Subscriber

 

 

Address of Subscriber

________________________________________ 

 

Li Bin                                                                                                                          

Name of Contact Person, if Subscriber not an individual

 

________________________________________                                                              

Telephone Number of Subscriber or Contact Person

 

________________________________________                                                                

Facsimile Number of Subscriber or Contact Person

 

_____________________________________

Name to appear on certificate(s)

 

___________________________________

Name and account reference, if applicable

 

_____________________________________

Account reference, if applicable

 

___________________________________

Contact Person

 

_____________________________________ 

Address of Intermediary

 

_____________________________________

 

 

___________________________________

Address for Delivery

 

___________________________________

 

1.  

a completed and executed copy of this Agreement; and

2.  

a certified check or bank draft for the Funds made payable to counsel for Protecwerx Inc., or confirmation of wire transfer delivered in trust for the benefit of Protecwerx Inc.

1.  

The Subscriber represents and warrants to the Company, and acknowledges that the Company is relying on these representations and warranties to, among other things, ensure that it is complying with all of the applicable securities legislation, that:

(a)  

the Subscriber is purchasing as principal and is either :  

(i)  

not a U.S. person and is not acquiring the Shares for the account or benefit of any U.S. person; OR

(ii)  

a U.S. person who is purchasing the Shares in a transaction that does not require registration under the U.S. Securities Act.

(b)  

if the Subscriber is a resident of an “International Jurisdiction” (which means a jurisdiction other than the U. S.), then:

(i)  

the Subscriber is knowledgeable of, or has been independently advised as to, the applicable securities legislation of the International Jurisdiction which would apply to this subscription, if there are any;

(ii)  

the Subscriber is purchasing the Shares pursuant to exemptions under the securities legislation of that International Jurisdiction or, if such is not applicable, the Subscriber is permitted to purchase the Shares under the applicable securities legislation of the International Jurisdiction without the need to rely on exemptions; and

(iii)  

the applicable securities legislation does not require the Company to make any filings or seek any approvals of any kind whatsoever from any regulatory authority of any kind whatsoever in the International Jurisdiction; and the Subscriber will, if requested by the Company, deliver to the Company a certificate or opinion of local counsel from the International Jurisdiction which will confirm the matters referred to in subparagraphs (ii) and (iii) above to the satisfaction of the Company, acting reasonably;

(c)  

if the Subscriber is a U.S. Person (as defined under Regulation S promulgated under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), which definition includes an individual resident in the United States and an estate or trust of which any executor or administrator or trustee, respectively, is a U.S. Person), then:

(i)  

the Subscriber understands that the Shares have not been and will not be registered under the U.S. Securities Act or any applicable state securities laws, and that the sale contemplated hereby is being made in reliance on an exemption from registration pursuant to Section 4(6) of the U.S. Securities Act to accredited investors (as that term is defined in Rule 501(a) of Regulation D under the U.S. Securities Act, (an “Accredited Investor”)); AND

(ii)  

the Subscriber agrees that if it decides to offer, sell or otherwise transfer any of the Shares, it will not offer, sell or otherwise transfer any of such Shares directly or indirectly, unless:

(A)  

the Company’s securities are publicly traded on a national securities exchange, the Nasdaq Stock Market or the OTC Bulletin Board; or

(B)  

the Company consents, in its sole discretion, in writing to such transfer and the transfer is made outside the United States in a transaction meeting the requirements of Rule 904 of Regulation S under the U.S. Securities Act (“Regulation S”) (or such successor rule or regulation then in effect), if applicable, and in compliance with applicable state securities laws and it has prior to such sale furnished to the Company an opinion of counsel, in a form reasonably satisfactory to the Company regarding compliance with Rule 904 and any applicable state securities laws; or the transfer is made pursuant to an exemption from the registration requirements under the U.S. Securities Act provided by Rule 144A or 144 thereunder, if available, and in accordance with any applicable state securities laws and it has prior to such sale furnished to the Company an opinion of counsel, in a form reasonably satisfactory to the Company regarding compliance with Rule 144A or 144, as applicable, and any applicable state securities laws; AND

(iii)  

the Subscriber understands and acknowledges that upon the issuance thereof, and until such time as the same is no longer required under applicable requirements of the U.S. Securities Act or applicable state securities laws, the certificates representing the Shares shall bear, the following legends:

(d)  

the Subscriber acknowledges that:

(i)  

no securities commission or similar regulatory authority has reviewed or passed on the merits of the Shares;

(ii)  

there is no government or other insurance covering the Shares;

(iii)  

there are risks associated with the purchase of the Shares;

(iv)  

there are restrictions on the Subscriber’s ability to resell the Shares and it is the responsibility of the Subscriber to find out what those restrictions are and to comply with them before selling the Shares;

(v)  

the Subscriber is restricted from using certain of the civil remedies available under the applicable securities legislation;

(vi)  

the Subscriber may not receive information that might otherwise be required to be provided to the Subscriber under the applicable securities legislation if the exemptions were not being used;

(vii)  

the Company is relieved from certain obligations that would otherwise apply under the applicable securities legislation if the exemptions were not being used; and

the Subscriber is subscribing for the Shares as principal for its own account and not for the benefit of any other person (within the meaning of applicable securities laws) and not with a view to resale or distribution of all or any of the Shares or, if it is not subscribing as principal, it acknowledges that the Company may be required by law to disclose to certain regulatory authorities the identity of each beneficial Subscriber for the Shares for whom it is acting;

the Shares are subject to a number of resale restrictions, including a restriction on trading.  Until the restriction on trading expires, the Subscriber will not be able to trade the Shares unless the Shares are registered or the Subscriber complies with an exemption from the prospectus requirements;

the offer and sale of these Shares was not accomplished by an advertisement or other general solicitation (and the Subscriber has not attended any seminar or meeting whose attendees have been invited by general solicitation or general advertisement) and the Subscriber was not induced to purchase the Shares as a result of any advertisement or general solicitation made by the Company; and

if the Subscriber is a corporation, the Subscriber is a valid and subsisting corporation and was not organized for the purpose of acquiring the Shares, has the necessary corporate capacity and authority to execute and deliver this Agreement and to observe and perform its covenants and obligations hereunder and has taken all necessary corporate action in respect thereof, or, if the Subscriber is an individual, a partnership, syndicate, trust or other form of unincorporated organization, the Subscriber has the necessary legal capacity and authority to execute and deliver this Agreement and to observe and perform its covenants and obligations hereunder and has obtained all necessary approvals in respect thereof, and, in either case, upon the Company executing and delivering this Agreement, this Agreement will constitute a legal, valid and binding contract of the Subscriber enforceable against the Subscriber in accordance with its terms and neither the agreement resulting from such acceptance nor the completion of the transactions contemplated hereby conflicts with, or will conflict with, or results, or will result, in a breach or violation of any law applicable to the Subscriber, any constating documents of the Subscriber or any agreement to which the Subscriber is a party or by which the Subscriber is bound; and

2.  

this subscription is given for valuable consideration and may not be withdrawn or revoked by the Subscriber;

3.  

the Company may for any reason, at any time before acceptance of this Agreement, terminate the offering of Shares and, upon termination, the Company will return the Funds to the Subscriber without interest or deduction;

4.  

the Shares will be subject to the following resale or transfer restrictions:

(a)  

the Subscriber will not be able to resell, assign or otherwise dispose of the Shares unless they are subsequently distributed under a prospectus, registration statement or in compliance with all applicable resale restrictions;

the Company may be required to legend the certificates representing the Shares regarding these and any other restrictions on resale; and

5.  

the Subscriber will not resell, assign or otherwise dispose of the Shares other than in accordance with all applicable securities legislation and the requirements of any exchange or over-the-counter market upon which any securities of the Company are then listed;

6.  

the Subscriber’s investment in the Shares is speculative and involves a high degree of risk, substantial financing for the Company may be required in the future, and there is no assurance that any such additional financing can be obtained;

7.  

the Subscriber is able to bear the economic risks of an investment in the Shares, including, without limiting the generality of the foregoing, the risk of losing part or all of the Funds, and the inability to sell, convert, exchange or transfer the Shares at a price which would enable the Subscriber to recoup his, her or its investment in the Shares;

8.  

other than any persons to whom the Company has agreed to pay a brokerage or finder’s fee, there is no person acting or purporting to act in connection with the transactions contemplated herein who is entitled to any brokerage or finder’s fee.  If any person establishes a claim that any fee or other compensation is payable in connection with this subscription for the Shares, the Subscriber covenants to indemnify and hold harmless the Company with respect thereto and with respect to all costs reasonably incurred in the defence thereof;

9.  

the Subscriber, and each beneficial person for whom it is contracting hereunder, have been advised to consult their own legal advisors with respect to trading in the Shares and with respect to the resale restrictions imposed by the securities laws of the state in which the Subscriber resides, the U.S. Securities Act and the rules and regulations thereunder, and any other applicable securities laws, and acknowledges that no representation has been made respecting the applicable hold periods or other resale restrictions applicable to such securities which restrict the ability of the Subscriber (or others for whom it is contracting hereunder) to resell such securities, that the Subscriber (or others for whom it is contracting hereunder) is solely responsible to find out what these restrictions are and the Subscriber is solely responsible (and the Company is not in any way responsible) for compliance with applicable resale restrictions and the Subscriber is aware that it (or beneficial persons for whom it is contracting hereunder) may not be able to resell such securities except in accordance with limited exemptions under the securities laws (including the U.S. Securities Act) and other applicable securities laws;

10.  

the Subscriber will execute, deliver, file and otherwise assist the Company in filing, any report, undertaking or document with respect to the purchase, sale, conversion or exchange of the Shares as required by counsel for the Company;

11.  

the Subscriber hereby authorizes the Company to correct any minor errors in, or complete any minor information missing from, any document which has been executed by the Subscriber and delivered to the Company with respect to this Subscription;

12.  

if, for any reason, the offering of Shares is terminated or the Subscriber’s subscription is rejected, the Subscriber will have no claims against the Company, its directors and officers, shareholders, agents, advisors, and affiliates and shall have no interest in the Company or in any property or assets of the Company;

13.  

Subscriber acknowledges that there are risks associated with the purchase of and investment in the Shares and the Subscriber, and each beneficial person for whom it is contracting hereunder, is knowledgeable, sophisticated and experienced in business and financial matters and is capable of evaluating the merits and risks of an investment in the Shares, fully understands the restrictions on resale of the Shares and is able to bear the economic risk of an investment in the Shares;

14.  

the Subscriber is familiar with the aims and objectives of the Company and the proposed use of the proceeds received by the Company from the sale of the Shares and is aware of the risk and other characteristics of an investment in the Shares;

15.  

in evaluating the merits and risks of an investment in the Shares, the Subscriber has relied solely upon the advice of his, her or its legal, tax and investment advisors and not any oral or written statement made by, or on behalf of, the Company or its advisors;

16.  

THE SUBSCRIBER IS RESPONSIBLE FOR OBTAINING HIS, HER OR ITS OWN LEGAL, INVESTMENT AND TAX ADVICE;

17.  

the Company may pay a commission or fee in respect of the sale of the Shares;

18.  

the Subscriber and each beneficial person for whom it is acting is a resident in the jurisdiction set out on the face page of this Agreement.  Such address was not created and is not used solely for the purpose of acquiring the Shares and the Subscriber and any beneficial person was solicited to purchase in such jurisdiction and is acquiring the Shares for its own account or for the account of another Accredited Investor (as defined in Rule 501(a) of Regulation D under the U.S. Securities Act) over which the Subscriber exercises sole investment discretion, and as to which the Subscriber has the authority to make the statements set forth in this Agreement, in each case not with a view to, or for offer or sale in connection with, any resale, distribution or other disposition of the Shares in any transaction that would be in violation of the U.S. Securities Act or applicable state securities laws; and

19.  

The Subscriber, if an individual, is at least 18 years of age.  If Subscriber is an association or entity, each individual member of the association or entity is at least 18 years of age.  If Subscriber is acquiring the Shares for the account of another person, such person, if an individual is at least 18 years of age, or if such person is an association or entity, each individual member of the association or entity is over 18 years of age.

(a)  

the Company is a valid and subsisting corporation duly incorporated and in good standing under the laws of the jurisdiction in which it is incorporated;

(b)  

the Company is duly registered and licensed to carry on business in the jurisdictions in which it carries on business or owns property where required under the laws of those jurisdictions;

(c)  

the Company will reserve or set aside sufficient shares in its treasury to issue the Shares and any shares of common stock resulting from exercising the Warrants;

(d)  

the issue and sale of the Shares by the Company does not and will not conflict with, and does not and will not result in a breach of, any of the terms of the Company’s incorporating documents or any agreement or instrument to which the Company is a party; and

(e)  

this Agreement has been or will be by the Closing, duly authorized by all necessary corporate action on the part of the Company, and the Company has full corporate power and authority to undertake the offering.