Amendment to Letter of Intent Between Global Beverage Solutions, Inc. and XStream Beverage Network, Inc. Regarding Merger Agreement Timing
Global Beverage Solutions, Inc. and XStream Beverage Network, Inc. agree to extend the deadlines for signing and closing their Merger Agreement. The new deadlines are January 12, 2007, for signing and January 22, 2007, for closing, unless both parties are still working diligently, in which case the deadlines extend to the actual dates of execution and consummation. All other terms of their original Letter of Intent remain unchanged.
Exhibit 2.3
GLOBAL BEVERAGE SOLUTIONS, INC.
7633 East 63rd Place, Suite 220
Tulsa, Oklahoma 74133
Phone:   ###-###-####
Fax: (918) 254-2988
January 5, 2006
VIA EMAIL
***@***
Mr. Ted Farnsworth, President
XSTREAM BEVERAGE NETWORK, INC.
Re:
Letter of Intent between Global Beverage Solutions, Inc.
and XStream Beverage Network, Inc.
Dear Mr. Farnsworth:
Reference is made to the Letter of Intent between GLOBAL BEVERAGE SOLUTIONS, INC., a Nevada corporation (GBVS) and XSTREAM BEVERAGE NETWORK, INC., a Nevada corporation (XTRM), dated December 15, 2006 (Letter of Intent), as amended by letter dated December 29, 2006. Capitalized terms not defined herein shall have the meaning ascribed to them in the Letter of Intent.
GBVS and XTRM each hereby agrees that the date for the entering into and execution of the Merger Agreement shall be (i) on or before January 12, 2007, or (ii) if the parties are diligently working towards finalizing the Merger Agreement, on the date the Merger Agreement is executed. The parties further agree that the Closing shall occur (i) on or before January 22, 2007, or (ii) if the parties are diligently working towards consummation of the Merger Agreement, on the date the Merger Agreement is consummated.
Except as specifically set forth herein, this letter does not amend or alter any terms and conditions of the Letter of Intent. If you agree with the above, please execute two (2) copies of this letter and return them to me by facsimile and overnight mail as soon as possible.
| Very truly yours, | |
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| GLOBAL BEVERAGE SOLUTIONS, INC. | |
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| By: | /s/ RICHARD CLARK |
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| Richard Clark, President |
Approved and accepted this 5th day of January, 2007
| XSTREAM BEVERAGE NETWORK, INC. | |
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| By: | /s/ TED FARNSWORTH |
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| Ted Farnsworth, Chief Executive Officer |