Bioquest-hastings Investment Agreement

EXHIBIT 10.10


AGREEMENT OF PURCHASE AND SALE AND DEPOSIT RECEIPT
BETWEEN
BIOQUEST INTERNATIONAL, INC
AND
HASTINGS INVESTMETN LIMITED


September 8, 2000


Ms. Hilary V.E. Jones Mr. David P.L.Hunter RE/MAX Freeport Northern Bahamas #1 Queen's Highway P.O. Box F-42480 Freeport, Grand Bahama Phone: (242) 352-7305 Fax: (242) 352-3560


Dear Hilary and David:


Per our conversation yesterday, attached/enclosed please find our Agreement Of Purchase and Sale and Deposit Receipt, submitted to you for the purchases of the Hastings Investments Limited property, located on Bell Channel Bay, Unit 1, Block/Street 2. This is being faxed to you as of this date, without the deposit. The original will be sent to you tomorrow via Federal Express and will also contain the $10,000 deposit check made out to you. Should you have any questions, please call me.


We look forward to an expedient transaction with regard to this property, and trust that you will do all in your power to facilitate such. I look forward to speaking with you soon.


Sincerely,


/s/ Peter J. Ewens ------------------ Peter J. Ewens President


Attachment/Enclosures


Cc: Raymond Stewart, Esq.
Vivienne Gouthro, Esq.


PJE/moi



PURCHASER COPY [PERMANENT]


PLEASE SIGN/WITNESS WHERE MARKED X______X ------------------------+ RETURN TO BROKER SERIAL NO: | ----------------------------| CONTRACT NO:


----------------------------+


RE/ MAX
FREEPORT NORTHERN BAHAMAS


QUEENS HIGHWAY P.O. BOX F-42480, Freeport Bahamas
Tel (242) 352-7305 Fax 352-3560
SALE BY SHARE TRANSFER
AGREEMENT OF PURCHASE AND SALE AND DEPOSIT RECEIPT


Freeport________14th September,______ 2000_____ We hereby acknowledge receipt of a Binder deposit: _____________Ten Thousand____________________US Dollars (US$ _____10,000_______) From:__BioQuest Center for Integrative Medicine Limited ("Purchaser") ___or Assigns Address: Suite A, Regent Centre East, P.O. Box F42682, Freeport, Grand Bahama, The Bahamas________________________Telephone: 242-352-8471, _____________________________________________ deposit to be held by RE/MAX FREEPORT NORTHERN BAHAMAS ("Agent"), subject to the terms hereof, as a deposit on account of the purchase price of the following described property:


DESCRIPTION OF PROPERTY: All the issued Shares of Hastings Investments Limited ["Hastings"] a Resident Bahamian Corporation with a Builder Investor License and only asset a Main House with 4 Bathrooms, 2 Bedrooms, 2 Car Garage, and a 2 Bedroom Guest Cottage with 2 Bathrooms, a Gymnasium, a Security Lodge with 1 Bathroom, a Gazebo, a Pool and a Tennis Court, all on the 3.7 acre site described in the attached Listing Flyer, made a part of this Contract, namely, Subdivision:__Bell Channel Bay Unit 1___Block/Street____________2_____________ Lots# & Zoning:_16 - 23 Multi-Family Residential 1,053' Canalfront [8 Lots].


PURCHASE PRICE One Million Nine Hundred Fifty Thousand US Dollars (US$1,950,000)


TERMS & CONDITIONS: ALL SUBJECT TO THE PUCHASER OBTAINING FINANCING AND ALL REQUIRED APPROVALS TO OPERATE A CONVALESCENT FACILITY IN THE BAHAMAS, INCLUDING, BUT NOT LIMITED TO, THOSE APPROVALS BY THE CENTRAL BANK OF THE BAHAMAS, THE GRAND BAHAMA PORT AUTHORITY, THE MINISTRY OF HEALTH AND THE DEPARTMENT OF IMMIGRATION FOR KEY PERSONNEL.


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