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File: PR - Closing of Private Placement v1.doc
VANITY ANNOUNCES CLOSING OF $250,000 PRIVATE PLACEMENT
Vancouver, British Columbia, March 12, 2015 - Vanity Capital Inc. (TSX VENTURE: VYC) ("Vanity" or the "Company") is plea
--->sed to announce it has closed its non-brokered private placement of 500,000 Units of the Company at a price of $0.50 per
---> Unit for gross proceeds of CDN $250,000 (the "Private Placement"). Each Unit consists of one common share and one warra
--->nt to purchase one common share (the "Warrant") of the Company. Each warrant is exercisable into one common share of the
---> Company at an exercise price of $0.60 per common share for a period of twenty-four months following the closing date of
---> the Private Placement. The Warrants contain an acceleration provision (the "Acceleration Provision") that states: "If t
--->he volume weighted average closing price of the common shares on the TSX Venture Exchange is $1.20 or more for 21 consec
--->utive trading days at any time subsequent to the expiry of six months from the date of issuance of the Warrants, then th
--->e Company will earn the right, by providing notice (the "Acceleration Notice") to the Warrant holder(s), to accelerate t
--->he Expiry Date of the Warrants to that date which is 30 days from the date of the Acceleration Notice." All of the Units
---> issued in the Private Placement are subject to a securities law hold period of 4 months and a day ending on July 13, 20
Messrs. Segounis and Miller, who are both insiders of the Company, participated in the Private Placement and are each co
--->nsidered a "related party" to the Company under Multilateral Instrument 61-101 Protection of Minority Security Holders i
--->n Special Transactions ("MI 61-101") by virtue of being directors of the Company and their respective shareholdings bein
--->g in excess of 10% of the share capital. Accordingly, a portion ($21,125 or 8.45%) of the Private Placement is a "relate
--->d party transaction" under MI 61-101. The Private Placement is a transaction that is exempt from (i) the formal valuatio
--->n requirements under Section 5.4 of MI 61-101 pursuant to Subsections 5.5(a) of MI 61-101 and (ii) from the minority app
--->roval requirements under Section 5.6 of MI 61-101 pursuant to Subsection 5.7(1)(a) of MI 61-101 because the C$21,125 fai
--->r market value of the portion of the Private Placement being acquired by Messrs. Segounis and Miller does not exceed 25%
---> of the market capitalization of the Company, as determined in accordance with MI 61-101.
As a result of the closing of the Private Placement, Vanity now has 7,825,265 Common Shares issued an outstanding.
Proceeds from the Private Placement will be used to identify and evaluate other potential mineral assets. Vanity is curr
--->ently reviewing several advanced stage mineral exploration properties in the province of Quebec. No finder's fee was pai
--->d in connection with the Private Placement.
The completion of the Private Placement was approved by the TSX Venture Exchange.
Vanity is a Canadian mineral exploration company listed on the TSX Venture Exchange (TSXV: VYC). Vanity's strategic focu
--->s is on exploring for gold and other precious metals in Canada.
On behalf of the Board of Directors of VANITY CAPITAL INC.
For further information, contact Harry Miller, President at (425) 453-0355.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TS
--->X Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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