Stock Repurchase Agreement between Merus Energy Corporation and Friendly Energy Exploration
Merus Energy Corporation has agreed to sell 2,900,000 preferred voting shares of Friendly Energy Exploration to Friendly Energy Exploration for $301,000. Payment will be made by Friendly Energy Exploration to Merus Energy Corporation via a note with 8% annual interest, with the full amount due in one year from April 1, 2010. The agreement was signed on March 31, 2010, by authorized representatives of both companies.
Exhibit 10.03
STOCK REPURCHASE AGREEMENT
Merus Energy Corporation hereby agrees to sell to Friendly Energy Exploration and Friendly Energy Exploration agrees to purchase 2,900,000 preferred voting shares of Friendly Energy Exploration for a total price of $301,000. Payment is to be made to Merus Energy Corporation in the form of a note with interest of 8% per annum from April 1, 2010 all due and payable in one year from this date.
Agreed this 31st day of March 2010.
MERUS ENERGY CORP.
FRIENDLY ENERGY EXPLORATION
/s/ Sean Tallant___________
/s/ Donald Trapp__________
By: Sean Tallant, President
By: Donald L. Trapp, Chief Financial Officer
