EXHIBIT 99.1
LETTER OF INTENT
SEPTEMBER 20, 2001
Voyager World Markets Ltd.
3076 Sir Francis Drakes Highway
Road Town, Tortola, British Virgin Islands
Attention:
Dear Sirs,
When countersigned by each of the parties, the following will
constitute our letter of intent, outlining the general terms with respect to a
strategic alliance/joint venture between Collaborative Financial Network Group,
Inc., ("CFN") and Voyager Group of companies, ("Voyager").
1. STRATEGIC ALLIANCE/JOINT VENTURE
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It is intended that CFN enter into a Joint Venture with Voyager where
Voyager will deploy the CFN's licensed IMIWEB trading system through its
operations, in particular with Voyager World Markets Ltd., and allow Voyager
clients online access to world markets via IMIWEB. Additionally Voyager intends
to further white label the IMIWEB platform to other financial institutions
through out the Caribbean.
2. DEFINITIVE AGREEMENT
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The parties will diligently and in good faith negotiate a definitive
agreement (the "Definitive Agreement") incorporating the principal terms of the
contemplated transaction as set forth herein and, in addition, such other terms
and provisions of a more detailed nature as the parties may agree upon. In the
Definitive Agreement terms will be outlined as to a Voyager user fee, and a sub
license fee applicable to Voyager's offer of white label to other offshore
financial institutions.
3. USE AND CONFIDENTIALITY
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All of the information, records, books and data to which each party
and/or their respective representatives are given access as set forth above will
be used by such party solely for the purpose of analyzing the other party hereto
and will be treated on a confidential basis. The terms, conditions and existence
of this Letter and all further discussions between the parties will also be
treated on a confidential basis, subject to appropriate disclosure to regulatory
authorities and as otherwise required by the rules of any regulatory
authorities.
4. COST AND EXPENSES
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Except as otherwise specifically set forth herein. Each party will bear
its own expenses of all attorneys, brokers, investment bankers, agents, and
finders employed by such party. The parties will indemnify each other against
any claims, costs, losses, expenses or liabilities arising from any claim for
commissions, finder's fees or other compensation in connection with the
contemplated transaction which may be asserted by any person based on any
agreement or arrangement for payment by the other party.
5. CURRENCY
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All dollar amounts referred to herein are expressed in U.S. dollars.
6. CHOICE OF LAW
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This letter of intent shall be construed in accordance with laws of
the State of California and the parties attorn to the exclusive jurisdiction of
the courts of California in respect of all disputes arising hereunder.
7. EXECUTION IN COUNTERPART
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The parties may execute this Letter of Intent in two or more
counterparts, each of which is deemed to be an original and all of which will
constitute one agreement, effective as of the date given above.
8. LETTER OF INTENT
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Subject to the ability of the parties to terminate this Letter of
Intent this letter in intended to be nonbinding letter of intent regarding the
contemplated transactions. The parties agree to negotiate a Definitive Agreement
generally consistent with the terms of this Letter of Intent on or before
December 31, 2001. Upon such event, the parties' respective legal rights and
obligations will then be only those set forth in the Definitive Agreement.
If the foregoing accurately sets forth your understanding in this regard, please
date, sign and return the enclosed copy of the Letter of Intent to the
undersigned.
Yours very truly,
COLLABORATIVE FINANCIAL NETWORK GROUP, INC.
PER: /S/ "JEFF MICHEL"
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NAME: JEFF MICHEL
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TITLE: PRESIDENT
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Acknowledged and Accepted this
26th day of September, 2001
VOYAGER WORLD MARKETS LTD.
Per: /s/ Paul D Lemmon
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NAME: PAUL LEMMON
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TITLE: MANAGING DIRECTOR
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