22:38:37 EDT Tue 14 Jul 2020
Enter Symbol
or Name

Vantex Resources Ltd (4)
Symbol VAX
Shares Issued 3,342,564
Close 2019-03-13 C$ 0.305
Recent Sedar Documents

Vantex CEO Jackson increases shareholding to 17.46%

2019-03-13 17:55 ET - News Release

Mr. Anthony Jackson reports


On March 11, 2019, Anthony Jackson, the acquirer, chief executive officer of Vantex Resources Ltd., acquired ownership of 187,500 shares at a price of 30 cents per share for a total purchase price of $56,250 on the open market. On March 13, 2019, the acquirer also acquired 100,000 shares at a price of 30.5 cents per share for a total purchase price of $30,500 on the open market. In total 287,500 shares were bought.

Prior to the purchase, the Acquiror owned and controlled 296,000 common shares ("Common Shares") of the Company.

After giving effect to securities acquired by the Offeror on the open market (the "Acquired Securities") the Offeror beneficially owns and controls an aggregate of 583,500 Common Shares of the Company representing 17.46% of the 3,342,585 common shares of the Company currently issued and outstanding.

The Acquired Securities were acquired for investment purposes only. The Offeror may, depending on market and other conditions, increase or change his beneficial ownership over the common shares or other securities of the Company through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise. The transaction described in this news release constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions ("MI 61-101"). For this transaction the Company relied on the exemption from the formal valuation requirements of MI 61-101 contained in section 5.5(b) of MI 61-101 on the basis that no securities of the Company are listed on a specified market set out in such section, and the Company relied on the exemption from the minority shareholder approval requirements of MI 61-101 contained in Section 5.7(1)(a) and 5.7(1)(b) of MI 61-101 on the basis that the fair market value of the Common Shares issued to, nor the consideration paid by the Offeror exceeded 25% of the Company's market capitalization nor did it exceed $2,500,000.

A copy of the Early Warning Report filed under applicable securities laws is available under the Company's profile on SEDAR (www.sedar.com).

This press release is being disseminated as required by National Instrument 62-103 The Early Warning System and Related Take Over Bids and Insider Reporting Issues in connection with the filing of an early warning report (the "Early Warning Report") regarding the acquisition of securities of the Company by Anthony Jackson (the "Offeror") pursuant to a purchase on the open market

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