Mr. Charanjit Hayre of 1184091 B.C. Ltd. reports
EARLY WARNING NEWS RELEASE OF 1184091 B.C. LIMITED
1184091 B.C. Ltd. (118) has acquired ownership of 30 million common shares issued by Planet Ventures Inc.
118 acquired 30 million common shares in the company with a deemed value of five cents pursuant to a share exchange agreement dated Nov. 1, 2019, among the company, 118 and the remaining shareholders of 1st Eleven Ltd. (First XI). The share exchange agreement provided for the acquisition by the company of all the issued and outstanding common shares in the capital of First XI, where each First XI share was exchanged for one common share of the company.
Prior to the acquisition, 118 held no common shares in the capital of the company.
Following the acquisition, 118 holds 30 million common shares, equal to 16.3 per cent of the issued and outstanding common shares of the company.
118 acquired 30 million common shares of the company for investment purposes. In pursuing such purposes, 118 takes a long-term view of its investment. It reserves the right to formulate other plans or make other proposals, and to take such actions with respect to its investment in the company. Depending on market conditions and other factors, 118 may acquire additional securities of the company as 118 may deem appropriate, whether in open market purchases, privately negotiated transactions or otherwise. 118 may dispose of some or all of such securities. 118 may also reconsider and change its plans or proposals relating to the foregoing.
This press release is issued pursuant to early warning requirements of National Instrument 62-104 and National Instrument 62-103, which also require an early warning report to be filed with regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters. A copy of the early warning report will be available under the company's SEDAR profile and may be obtained by contacting Charanjit Hayre, Director of 118, at 604-537-9386.
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