19:32:25 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Velocity Minerals Ltd (3)
Symbol VLC
Shares Issued 29,928,237
Close 2017-07-20 C$ 0.265
Market Cap C$ 7,930,983
Recent Sedar Documents

ORIGINAL: Velocity Minerals investor Marinov buys 6.3M shares

2017-07-21 19:14 ET - News Release

Received by email:

File: 7076 - News Release Re Early Warning_D.Marinov Ltd. (21July17)(LC075024xD5987).PDF

                                    Daniel Marinov Ltd.
                                  2205   888 Homer Street
                                 Vancouver, British Columbia
                                         V6B 0H7

                           EARLY WARNING NEWS RELEASE

Vancouver, British Columbia, July 21, 2017, Daniel Marinov Ltd. ("Marinov Ltd.") makes
the following announcement in accordance with National Instrument 62-103 The Early Warning
System and Related Take Over Bids and National Instrument 62-104 Take-Over Bids and Issuer
Bids. Marinov Ltd. is controlled by Daniel Marinov, a director of Velocity Minerals Ltd. (the
"Issuer").

Marinov Ltd. announces that on July 21, 2017, it acquired ownership and control of 6,300,000
common shares in the capital of the Issuer (the "Subject Shares") pursuant to a purchase and
sale agreement dated January 24, 2017, whereby the Issuer acquired all of the issued and
outstanding common shares in the capital of 1077076 B.C. Ltd. (the "Transaction"), in
consideration and in exchange for common shares of the Issuer (the "Velocity Shares"). Of the
6,300,000 Subject Shares, Marinov Ltd. acquired 4,500,000 at a deemed issuance price of $0.25
per share, and 1,800,000 through common share purchase warrants, which were each exercised
for one common share in the capital of the Issuer at $0.075 per share. Effective July 25, 2017,
the Velocity Shares will be listed for trading on the TSX Venture Exchange; however, the
Transaction did not occur on a stock exchange or other market that represents a published market
for securities.

Immediately before the completion of the Transaction, Marinov Ltd. did not beneficially own or
control any Velocity Shares. As a result of the Transaction, Marinov Ltd. beneficially owns or
controls 6,300,000 Velocity Shares, representing approximately 10.98% of the currently issued
and outstanding Velocity Shares.

Marinov Ltd. acquired the Velocity Shares for investment purposes. However, Marinov Ltd.
will review its holdings from time to time and may, in the future, increase or decrease its
ownership or control over securities of the Issuer as circumstances dictate.

An early warning report will be filed under the Issuer's profile on the SEDAR website at
www.sedar.com. A copy of the early warning report can also be obtained from the contact
below.

The Issuer's head office is located at Suite 2300, 1177 West Hastings Street, Vancouver, British
Columbia, V6E 2K3.

For more information contact:

Daniel Marinov
Director, Daniel Marinov Ltd.
604-484-1233



LC073511-2
 


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