MEMORANDUM OF UNDERSTANDING
BETWEEN
CRIADERO GOLDEN EMU/▇▇ ▇▇▇▇ ▇▇▇ ▇▇▇▇▇ IP
AND
TAGALDER INCORPORATED
This is to confirm that Criadero Golden Emu/▇▇. ▇▇▇▇ ▇▇▇ ▇▇▇▇▇ Ip of Peru
("Fai") agrees to sell and Tagalder Incorporated ("Tagalder") agrees to purchase
the Criadero Golden Emu farming operation and the property in Peru under the
following terms and conditions.
1. Criadero Golden Emu and the property in Peru is owned by Fai and located
at:
SUB-LOTE B-21C PARTE INTEGRANTE DE LA UC. 10737 de 7,194 m2
Lurin, Lima, Peru
2. The emu farm consists of
Land size 7,194 m2
Building 300 m2 in size with incubation room and a two bed room
residential
Fence 339.95 m of brick fence
Equipment Two incubation and one hedge equipment
Emu 90 emu breeders
3. The Price
US$ C$
Land 107,910 161,865
_______ _______
Total 107,910 161,865
Farming Operation
Building 60,000 90,000
Fence 40,794 61,191
Equipment 30,000 45,000
Emu 225,000 337,500
_______ _______
Total 355,000 533,691
4. The Farm Management
▇▇▇▇▇▇▇▇ agrees to retain ▇▇▇ as the management of the emu farm and the total
cost including the farm wages, land leasing and operation cost will be US$32,000
per year. ▇▇▇ agrees to manage the farm at least for the first three years.
5. The Export
▇▇▇ agrees to apply for emu egg export license to China. Fai will work with the
local authority to quarantine the emu farm for export. Tagalder will apply for
import license to import emu eggs into China.
6. Payment
Both parties agree that Tagalder will issue common shares at C$0.01 per share to
pay for the purchase of the farming operation.
Total payment C$533,691
Total shares issued 53,369,100
Tagalder has the option in three years to purchase in cash the land for
C$161,865.
7. Official Approval
This Memorandum of Understanding is conditional upon the following official
approval:
Tagalder's Board
Ontario Regulatory
Tagalder's Shareholders
8. Attachment
The following documents are the attachments:
SUB-LOTE B-21C DESCRIPTION
B-21C Property appraisal
B-21C LAND LOCATION
B-21C LAND SURVEY
9. The Memorandum of Understanding is signed on July 6, 2000 by:
Signed by Signed by
/s/▇▇▇▇ ▇▇▇ ▇▇▇▇▇ Ip /s/ ▇▇▇▇▇ ▇▇▇
____________________ ______________________
CRIADERO GOLDEN EMU TAGALDER INCORPORATED
▇▇ ▇▇▇▇ ▇▇▇ ▇▇▇▇▇ IP
DATE: JULY 6, 2000 DATE: JULY 6, 2000