To: The Board of Directors,
San Carlos Brewery Inc.
May 11, 2011
Subject: Non-binding letter of intent
This letter of intent is for a non-binding that shall confirm to both parties its mutual intentions that engage in an exclusive negotiation on business that matters on formal purchase agreement by which the company and/or its shareholders of the business and for their majority stock in Anchor Lmtd. Inc. for a considered amount of $50 per share.
While we take into consideration that all terms and conditions will be definitely open in a formal purchase agreement, we hereby confirm our mutual agreement.
This letter is made possible as a guide in the formal negotiation and preparation on the purchase agreement and its terms and conditions for the satisfactory of both parties. This letter of intent as well can be terminated in any time as agreed upon by mutual consent of the parties.
Kindly accept and acknowledge this letter of intent that has been sets forth for non-binding intentions only.