AGREEMENT FOR SHARE EXCHANGE

 

THIS AGREEMENT FOR SHARE EXCHANGE (this “Agreement”) is dated as of September 27, 2006, by and among NT Holding Corp., a Nevada corporation (the "Buyer", “NTHH” or the “Company”) and Shanxi Lingu Coal Mine Company Limited (“Shanxi” or the “Acquiree”), and Wang Minsheng, the sole shareholder of Shanxi (“Minsheng”)

 

NTHH and Shanxi desire to complete a share exchange transaction pursuant to which NTHH shall acquire all of the issued and outstanding stock of Shanxi solely in exchange for shares of the common stock of Grand Canal Entertainment Inc. (“GCNL”) owned by NTHH; and

The Board of Directors of NTHH and the Board of Directors of Shanxi have each approved the proposed transaction, contingent upon satisfaction prior to closing of all of the terms and conditions of this Agreement; and

NTHH is the 88% majority shareholder of GCNL and NTHH controls the board of directors of GCNL; and

Minsheng is the sole owner of all of the issued and outstanding common stock of Shanxi; and

Shanxi owns coal mines located in Linfen, Shanxi, China with approximately 8,000,000 tons in reserves; and

THE PARTIES desire to make certain representations, warranties and agreements in connection with completion of the proposed share exchange transaction.

NOW, THEREFORE, in consideration of the foregoing recitals, which shall be considered an integral part of this Agreement, and the covenants, conditions, representations and warranties hereinafter set forth, the parties hereby agree as follows:

1.1    The Exchange. At the Closing (as hereinafter defined), NTHH shall acquire 62.5% of the issued and outstanding stock of Shanxi from Minsheng. Consideration to be issued by NTHH shall be a total of 9,023,200 shares of the common stock of (“GCNL”) owned by NTHH (the “Exchange Shares”) in exchange for 100% equity ownership of Shanxi. The Exchange shall take place upon the terms and conditions provided for in this Agreement and in accordance with applicable law. GCNL has total authorized capital of 100,000,000 shares and at closing will have a total of 45,116,000 shares issued and outstanding.

1.2    Closing and Effective Time. Subject to the provisions of this Agreement, the parties shall hold a closing (the "Closing") on (i) the first business day on which the last of the conditions set forth in Article V to be fulfilled prior to the Closing is fulfilled or waived or (ii) at such time and place as the parties hereto may agree. Such date shall be the date of Exchange (the "Effective Time"). Effective Time shall be no later than September 30, 2006

 

2.1    Representations and Warranties of NTHH. NTHH represents and warrants to Shanxi and Minsheng as follows:

(a)    Organization, Standing and Power. GCNL is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware, has all requisite power and authority to own, lease and operate its properties and to carry on its business as now being conducted, and is duly qualified and in good standing to do business in each jurisdiction in which the nature of its business or the ownership or leasing of its properties makes such qualification necessary.

 

(b)    Reserved.

(c)    Certificate of Incorporation, Bylaws, and Minute Books. The copies of the Articles of Incorporation and of the Bylaws of GCNL which have been delivered to Shanxi are true, correct and complete copies thereof. The minute book of GCNL, which has been made available for inspection, contains accurate minutes of all meetings and accurate consents in lieu of meetings of the Board of Directors (and any committee thereof) and of the shareholders of NTHH and GCNL since the date of incorporation and accurately reflects all transactions referred to in such minutes and consents in lieu of meetings.

(d)    Authority. NTHH and GCNL have all requisite power and authority to enter into this Agreement and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby have been duly authorized by the Board of Directors of NTHH and GCNL. No other corporate or shareholder proceedings on the part of NTHH and GCNL are necessary to authorize the Exchange, or the other transactions contemplated hereby.

(e)    Conflict with Other Agreements; Approvals. The execution and delivery of this Agreement does not, and the consummation of the transactions contemplated hereby will not result in any violation of, or default (with or without notice or lapse of time, or both) under, or give rise to a right of termination, cancellation or acceleration of any obligation or the loss of a material benefit under, or the creation of a lien, pledge, security interest or other encumbrance on assets (any such conflict, violation, default, right of termination, cancellation or acceleration, loss or creation, a "violation") pursuant to any provision of the Articles of Incorporation or Bylaws or any organizational document of NTHH or, result in any violation of any loan or credit agreement, note, mortgage, indenture, lease, benefit plan or other agreement, obligation, instrument, permit, concession, franchise, license, judgment, order, decree, statute, law, ordinance, rule or regulation applicable to NTHH which violation would have a material adverse effect on NTHH taken as a whole. No consent, approval, order or authorization of, or registration, declaration or filing with, any court, administrative agency or commission or other governmental authority or instrumentality, domestic or foreign (a "Governmental Entity") is required by or with respect to NTHH in connection with the execution and delivery of this Agreement by NTHH or the consummation by NTHH of the transactions contemplated hereby.

(f)    Books and Records. NTHH has made and will make available for inspection by Shanxi upon reasonable request all the books of GCNL relating to the business of GCNL. Such books of GCNL have been maintained in the ordinary course of business. All documents furnished or caused to be furnished to Shanxi by GCNL are true and correct copies, and there are no amendments or modifications thereto except as set forth in such documents.

 

(g)    Compliance with Laws. GCNL is and has been in compliance in all material respects with all laws, regulations, rules, orders, judgments, decrees and other requirements and policies imposed by any Governmental Entity applicable to it, its properties or the operation of its businesses.

(h)    Dilutive Securities. GCNL has no dilutive securities of any kind, including but not limited to warrants, options or employee stock options outstanding.

(j)    Litigation. There is no suit, action or proceeding pending, or, to the knowledge of NTHH, threatened against or affecting GCNL which is reasonably likely to have a material adverse effect on GCNL, nor is there any judgment, decree, injunction, rule or order of any Governmental Entity or arbitrator outstanding against GCNL having, or which, insofar as reasonably can be foreseen, in the future could have, any such effect.

(k)    Tax Returns. GCNL has duly filed or will file prior to Closing any tax reports and returns required to be filed by it and has fully paid all taxes and other charges claimed to be due from it by any federal, state or local taxing authorities. There are not now any pending questions relating to or claims asserted for, taxes or assessments asserted upon GCNL.

2.2    Representations and Warranties of Shanxi. Shanxi represents and warrants to NTHH as follows:

(a)    Organization, Standing and Power. Shanxi is a corporation duly organized, validly existing and in good standing under the laws of the China, has all requisite power and authority to own, lease and operate its properties and to carry on its business as now being conducted, and is duly qualified and in good standing to do business in each jurisdiction in which the nature of its business or the ownership or leasing of its properties makes such qualification necessary.

(b)    Capital Structure. There are no options, warrants, calls, agreements or other rights to purchase or otherwise acquire from Shanxi at any time, or upon the happening of any stated event, any share of the capital stock of Shanxi.

(c)    Certificate of Incorporation, Bylaws and Minute Books. Copies of the Certificate of Incorporation and of the other corporate documents of Shanxi which will be delivered to NTHH are true, correct and complete copies thereof. The minute books of Shanxi which will be made available for inspection contain accurate minutes of all meetings and accurate consents in lieu of meetings of the Board of Directors (and any committee thereof) and of the shareholders of Shanxi since the date of incorporation and accurately reflect all transactions referred to in such minutes and consents in lieu of meetings.

(d)    Authority. Shanxi has all requisite power to enter into this Agreement and, subject to approval of the proposed transaction by the holders of 100% of its issued and outstanding shares which are entitled to vote to approve the proposed transaction, has the requisite power and authority to consummate the transactions contemplated hereby. Except as specified herein, no other corporate or shareholder proceedings on the part of Shanxi are necessary to authorize the Exchange and the other transactions contemplated hereby.

 

 

(e)    Conflict with Agreements; Approvals. The execution and delivery of this Agreement does not, and the consummation of the transactions contemplated hereby will not, conflict with, or result in any violation of any provision of the Certificate of Incorporation or Bylaws of Shanxi or of any loan or credit agreement, note, mortgage, indenture, lease, benefit plan or other agreement, obligation, instrument, permit, concession, franchise, license, judgment, order, decree, statute, law, ordinance, rule or regulation applicable to Shanxi or its properties or assets. No consent, approval, order or authorization of, or registration, declaration or filing with, any Governmental Entity is required by or with respect to Shanxi in connection with the execution and delivery of this Agreement by Shanxi, or the consummation by Shanxi of the transactions contemplated hereby.

(f)    Books and Records. Shanxi has made and will make available for inspection by NTHH upon reasonable request all the books of account, relating to the business of Shanxi. Such books of account have been maintained in the ordinary course of business. All documents furnished or caused to be furnished to NTHH by Shanxi are true and correct copies, and there are no amendments or modifications thereto except as set forth in such documents.

(g)    Compliance with Laws. Shanxi is and has been in compliance in all material respects with all laws, regulations, rules, orders, judgments, decrees and other requirements and policies imposed by any Governmental Entity applicable to it, its properties or the operation of its businesses.

(h)    Liabilities and Obligations. Shanxi has no material liabilities or obligations (absolute, accrued, contingent or otherwise) except (i) liabilities that are reflected and reserved against on the Shanxi financial statements delivered to NTHH that have not been paid or discharged since the date thereof and (ii) liabilities incurred since the date of such financial statements in the ordinary course of business consistent with past practice and in accordance with this Agreement.

(i)    Litigation. There is no suit, action or proceeding pending, or, to the knowledge of Shanxi threatened against or affecting Shanxi, which is reasonably likely to have a material adverse effect on Shanxi, nor is there any judgment, decree, injunction, rule or order of any Governmental Entity or arbitrator outstanding against Shanxi having, or which, insofar as reasonably can be foreseen, in the future could have, any such effect.

(j)    Taxes. Shanxi has filed or will file within the time prescribed by law (including extension of time approved by the appropriate taxing authority) all tax returns and reports required to be filed with all other jurisdictions where such filing is required by law; and Shanxi has paid, or made adequate provision for the payment of all taxes, interest, penalties, assessments or deficiencies due and payable on, and with respect to such periods. Shanxi knows of (i) no other tax returns or reports which are required to be filed which have not been so filed and (ii) no unpaid assessment for additional taxes for any fiscal period or any basis therefore.

(k)    Licenses, Permits; Intellectual Property. Shanxi owns or possesses in the operation of its business all material authorizations which are necessary for it to conduct its business as now conducted. Neither the execution or delivery of this Agreement nor the consummation of the transactions contemplated hereby will require any notice or consent under or have any material adverse effect upon any such authorizations.

 

 

2.3    Representations and Warranties of Minsheng. By execution of this Agreement, Minsheng represents and warrants to NTHH as follows:

(a)    Shares Free and Clear. The shares of Shanxi which Minsheng owns are free and clear of any liens, claims, options, charges or encumbrances of any nature.

(b)    Unqualified Right to Transfer Shares. Minsheng has the unqualified right to sell, assign, and deliver the shares of Shanxi and, upon consummation of the transactions contemplated by this Agreement, NTHH will acquire good and valid title to such shares, free and clear of all liens, claims, options, charges, and encumbrances of whatsoever nature.

(c)    Agreement and Transaction Duly Authorized. Minsheng is authorized to execute and deliver this Agreement and to consummate the share exchange transaction described herein. Neither the execution and delivery of this Agreement nor the consummation of the transactions contemplated hereby will constitute a violation or default under any term or provision of any contract, commitment, indenture, other agreement or restriction of any kind or character to which such Minsheng is a party or by which such Minsheng is bound.

(d)    Share Ownership. Minsheng is presently the sole shareholder of Shanxi, and owns 100% of the equity ownership of Shanxi.

 

3.1    Covenants of Shanxi and GCNL. During the period from the date of this Agreement and continuing until the Effective Time, Shanxi and GCNL each agree as to themselves (except as expressly contemplated or permitted by this Agreement, or to the extent that the other party shall otherwise consent in writing):

(a)    Ordinary Course. Each party shall carry on its respective businesses in the usual, regular and ordinary course in substantially the same manner as heretofore conducted.

(b)    Dividends; Changes in Stock. No party shall (i) declare or pay any dividends on or make other distributions in respect of any of its capital stock, or (ii) repurchase or otherwise acquire, or permit any subsidiary to purchase or otherwise acquire, any shares of its capital stock.

(c)    Issuance of Securities. No party shall issue, deliver or sell, or authorize or propose the issuance, delivery or sale of, any shares of its capital stock of any class, any voting debt or any securities convertible into, or any rights, warrants or options to acquire, any such shares, voting debt or convertible securities.

(d)    Governing Documents. No party shall amend or propose to amend its Articles of Incorporation or Bylaws.

(e)    No Dispositions. Except for the transfer of assets in the ordinary course of business consistent with prior practice, no party shall sell, lease, encumber or otherwise dispose of, or agree to sell, lease, encumber or otherwise dispose of, any of its assets, which are material, individually or in the aggregate, to such party.

 

(f)    Indebtedness. No party shall incur any indebtedness for borrowed money or guarantee any such indebtedness or issue or sell any debt securities or warrants or rights to acquire any debt securities of such party or guarantee any debt securities of others other than in each case in the ordinary course of business consistent with prior practice.

3.2    Other Actions. No party shall take any action that would or is reasonably likely to result in any of its representations and warranties set forth in this Agreement being untrue as of the date made (to the extent so limited), or in any of the conditions to the Exchange set forth in Article V not being satisfied.

4.1    Restricted GCNL Shares. The Exchange Shares will not be registered under the Securities Act, but will be issued pursuant to applicable exemptions from such registration requirements for transactions not involving a public offering and/or for transactions which constitute “offshore transactions” as defined in Regulation S under the Securities Act of 1933. Accordingly, the Exchange Shares will constitute "restricted securities" for purposes of the Securities Act and the holders of Exchange Shares will not be able to transfer such shares except upon compliance with the registration requirements of the Securities Act or in reliance upon an available exemption therefrom. The certificates evidencing the Exchange Shares shall contain a legend to the foregoing effect and the holders of such shares shall deliver at Closing an Investment Letter acknowledging the fact that the Exchange Shares are restricted securities and agreeing to the foregoing transfer restrictions.

4.2    Access to Information. Upon reasonable notice, NTHH and Shanxi shall each afford to the officers, employees, accountants, counsel and other representatives of the other company, and with respect to Shanxi, the Acquired Entities, access to all their respective properties, books, contracts, commitments and records and, during such period, each of NTHH and Shanxi shall furnish promptly to the other (a) a copy of each report, schedule, registration statement and other document filed or received by it during such period pursuant to the requirements of Federal or state securities laws and (b) all other information concerning its business, properties and personnel as such other party may reasonably request. Unless otherwise required by law, the parties will hold any such information which is nonpublic in confidence until such time as such information otherwise becomes publicly available through no wrongful act of either party, and in the event of termination of this Agreement for any reason each party shall promptly return all nonpublic documents obtained from any other party, and any copies made of such documents, to such other party.

4.3    Legal Conditions to Exchange. Each of NTHH and Shanxi shall take all reasonable actions necessary to comply promptly with all legal requirements which may be imposed on itself with respect to the Exchange and will promptly cooperate with and furnish information to each other in connection with any such requirements imposed upon any of them or upon any of their related entities or subsidiaries in connection with the Exchange. Each party shall take all reasonable actions necessary to obtain (and will cooperate with each other in obtaining) any consent, authorization, order or approval of, or any exemption by, any Governmental Entity or other public or private third party, required to be obtained or made by NTHH or Shanxi or any of their related entities or subsidiaries in connection with the Exchange or the taking of any action contemplated thereby or by this Agreement.

 

 

4.4    Board of Directors and Officers. There should be no change in the board of directors of Shanxi

5.1    Conditions to Each Party's Obligation To Effect the Exchange. The respective obligations of each party to effect the Exchange shall be conditional upon the filing, occurring or obtainment of all authorizations, consents, orders or approvals of, or declarations or filings with, or expirations of waiting periods imposed by any governmental entity or by any applicable law, rule, or regulation governing the transactions contemplated hereby. Shanxi represents and warrants that it has obtained the appropriate required consents of the Chinese government.

5.2    Conditions to Obligations of NTHH. The obligation of NTHH to effect the Exchange is subject to the satisfaction of the following conditions on or before the Closing Date unless waived by NTHH:

(a)    Representations and Warranties. The representations and warranties of Shanxi and of Minsheng set forth in this Agreement shall be true and correct in all material respects as of the date of this Agreement and (except to the extent such representations and warranties speak as of an earlier date) as of the Closing Date as though made on and as of the Closing Date, except as otherwise contemplated by this Agreement, and NTHH shall have received a certificate signed on behalf of Shanxi by the President of Shanxi and a certificate signed by Minsheng to such effect.

(b)    Performance of Obligations of Shanxi. Shanxi shall have performed in all material respects all obligations required to be performed by it under this Agreement at or prior to the Closing Date, and NTHH shall have received a certificate signed on behalf of Shanxi by the President to such effect.

(c)    Closing Documents. NTHH shall have received such certificates and other closing documents as counsel for NTHH shall reasonably request.

(e)    Consents. Shanxi shall have obtained the consent or approval of each person whose consent or approval shall be required in connection with the transactions contemplated hereby under any loan or credit agreement, note, mortgage, indenture, lease or other agreement or instrument, except those for which failure to obtain such consents and approvals would not, in the reasonable opinion of NTHH, individually or in the aggregate, have a material adverse effect on Shanxi and of its subsidiaries and related entities taken as a whole upon the consummation of the transactions contemplated hereby. Shanxi shall also have received the approval of Minsheng in accordance with applicable law.

(f)    Due Diligence Review. NTHH shall have completed to its reasonable satisfaction a review of the business, operations, finances, assets and liabilities of Shanxi and shall not have determined that any of the representations or warranties of Shanxi or Minsheng contained herein are, as of the date hereof or the Closing Date, inaccurate in any material respect or that Shanxi or Minsheng is otherwise in violation of any of the provisions of this Agreement.

 

 

(g)    Pending Litigation. There shall not be any litigation or other proceeding pending or threatened to restrain or invalidate the transactions contemplated by this Agreement, which, in the sole reasonable judgment of NTHH, made in good faith, would make the consummation of the Exchange imprudent. In addition, there shall not be any other litigation or other proceeding pending or threatened against Shanxi, the consequences of which, in the judgment of NTHH, could be materially adverse to Shanxi.

5.3    Conditions to Obligations of Shanxi. The obligation of Shanxi to effect the Exchange is subject to the satisfaction of the following conditions unless waived by Shanxi:

(a)    Representations and Warranties. The representations and warranties of NTHH set forth in this Agreement shall be true and correct in all material respects as of the date of this Agreement and (except to the extent such representations speak as of an earlier date) as of the Closing Date as though made on and as of the Closing Date, except as otherwise contemplated by this Agreement, Shanxi shall have received a certificate signed on behalf of NTHH by the President to such effect.

(b)    Performance of Obligations of NTHH. NTHH shall have performed in all material respects all obligations required to be performed by it under this Agreement at or prior to the Closing Date, and Shanxi shall have received a certificate signed on behalf of NTHH by the President to such effect.

 

(c)    Closing Documents. Shanxi shall have received such certificates and other closing documents as counsel for Shanxi shall reasonably request.

(d)    Consents. NTHH shall have obtained the consent or approval of each person whose consent or approval shall be required in connection with the transactions contemplated hereby.

(e)    Due Diligence Review. Shanxi shall have completed to its reasonable satisfaction a review of the business, operations, finances, assets and liabilities of NTHH and shall not have determined that any of the representations or warranties of NTHH contained herein are, as of the date hereof or the Closing Date, inaccurate in any material respect or that NTHH is otherwise in violation of any of the provisions of this Agreement.

(f)    Pending Litigation. There shall not be any litigation or other proceeding pending or threatened to restrain or invalidate the transactions contemplated by this Agreement, which, in the sole reasonable judgment of Shanxi, made in good faith, would make the consummation of the Exchange imprudent. In addition, there shall not be any other litigation or other proceeding pending or threatened against NTHH the consequences of which, in the judgment of Shanxi, could be materially adverse to NTHH.

6.1    Termination. This Agreement may be terminated at any time prior to the Effective Time:

(a)    by mutual consent of NTHH and Shanxi;

 

(b)    by either NTHH or Shanxi if there has been a material breach of any representation, warranty, covenant or agreement on the part of the other set forth in this Agreement which breach has not been cured within five (5) business days following receipt by the breaching party of notice of such breach, or if any permanent injunction or other order of a court or other competent authority preventing the consummation of the Exchange shall have become final and non-appealable.

6.2    Effect of Termination. In the event of termination of this Agreement by either Shanxi or NTHH as provided in Section 6.1, this Agreement shall forthwith become void and there shall be no liability or obligation on the part of any party hereto. In such event, all costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the party incurring such expenses.

6.3    Amendment. This Agreement may be amended by mutual agreement of NTHH, Shanxi and the Minsheng, provided that in the case of NTHH and Shanxi, any such amendment must authorized by their respective Boards of Directors, and to the extent required by law, approved by their respective shareholders. Any such amendment must be by an instrument in writing signed on behalf of each of the parties hereto.

6.4    Extension; Waiver. At any time prior to the Effective Time, the parties hereto, by action taken or authorized by their respective Board of Directors, may, to the extent legally allowed, (a) extend the time for the performance of any of the obligations or other acts of the other parties hereto, (b) waive any inaccuracies in the representations and warranties contained herein or in any document delivered pursuant hereto and (c) waive compliance with any of the agreements or conditions contained herein. Any agreement on the part of a party hereto to any such extension or waiver shall be valid only if set forth in a written instrument signed on behalf of such party.

7.1    Survival of Representations, Warranties and Agreements. All of the representations, warranties and agreements in this Agreement or in any instrument delivered pursuant to this Agreement shall survive the Effective Time for a period of three years from the date of this Agreement.

7.2    Notices. All notices and other communications hereunder shall be in writing and shall be deemed given if delivered personally, telecopied (which is confirmed) or mailed by registered or certified mail (return receipt requested) to the parties at the following addresses (or at such other address for a party as shall be specified by like notice):

(a)    If to NTHH:

Grand Canal Entertainment, Inc.

c/o Cutler Law Group

3206 West Wimbledon Drive

Augusta, GA 30909

Attn: M. Richard Cutler

Telephone: (706) 738-4122

Facsimile: (706) 738-1966

Email: ***@***

 

 

(b)    If to Shanxi:

 

Room 3505-06, 35/Floor

Edinburgh Tower

The Landmark

15 Queen’s Road Central, Hong Kong

Telephone ###-###-####-2111

Facsimile: 852-2736-5511

Email:

(c)    If to the Minsheng, at the addresses of Shanxi.

7.3    Interpretation. When a reference is made in this Agreement to Sections, such reference shall be to a Section of this Agreement unless otherwise indicated. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Whenever the words "include", "includes" or "including" are used in this Agreement, they shall be deemed to be followed by the words "without limitation". The phrase "made available" in this Agreement shall mean that the information referred to has been made available if requested by the party to whom such information is to be made available.

7.4    Counterparts. This Agreement may be executed in two or more counterparts, all of which shall be considered one and the same agreement and shall become effective when two or more counterparts have been signed by each of the parties and delivered to the other parties, it being understood that all parties need not sign the same counterpart.

7.5    Entire Agreement; No Third Party Beneficiaries; Rights of Ownership. This Agreement (including the documents and the instruments referred to herein) constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof, and is not intended to confer upon any person other than the parties hereto any rights or remedies hereunder.

7.6    Governing Law. This Agreement shall be governed and construed in accordance with the laws of the State of Delaware without regard to principles of conflicts of law. Each party hereby irrevocably submits to the jurisdiction of any Nevada state court or any federal court in the State of Delaware in respect of any suit, action or proceeding arising out of or relating to this Agreement, and irrevocably accept for themselves and in respect of their property, generally and unconditionally, the jurisdiction of the aforesaid courts.

7.7    No Remedy in Certain Circumstances. Each party agrees that, should any court or other competent authority hold any provision of this Agreement or part hereof or thereof to be null, void or unenforceable, or order any party to take any action inconsistent herewith or not to take any action required herein, the other party shall not be entitled to specific performance of such provision or part hereof or thereof or to any other remedy, including but not limited to money damages, for breach hereof or thereof or of any other provision of this Agreement or part hereof or thereof as a result of such holding or order.

 

7.8    Publicity. Except as otherwise required by law or the rules of the SEC, so long as this Agreement is in effect, no party shall issue or cause the publication of any press release or other public announcement with respect to the transactions contemplated by this Agreement without the written consent of the other party, which consent shall not be unreasonably withheld.

7.9    Assignment. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any of the parties hereto (whether by operation of law or otherwise) without the prior written consent of the other parties. Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit of and be enforceable by the parties and their respective successors and assigns.

IN WITNESS WHEREOF, this Agreement for Share Exchange has been signed by the parties set forth below as of the date set forth above.

 

NT Holding Corp.
By:	/s/ Chun Ka Tsun Chun Ka Tsun
Shanxi Lingu Coal Mine Company Limited
By:	/s/ Wang Minsheng Wang Minsheng
Minsheng:
/s/ Wang Minsheng Wang Minsheng