VANCOUVER, BC – October 30, 2020 – 1184091 B.C. Ltd (“118”), with an address at Suite 303 – 750 West Pender Street, Vancouver BC V6C 2T7 has disposed of ownership and control of 1,500,000 common shares (the “Common Shares”) of Planet Ventures Inc. (the “Company”), a corporation with a head office at Suite 303 – 750 West Pender Street, Vancouver BC V6C 2T7.
118 disposed of 1,500,000 Common Shares in the Company with a deemed value of CDN$0.25 (the “Disposition”) in the market through the facilities of the TSX Venture Exchange on October 28, 2020.
Prior to the Disposition, 118 held 6,000,000 Common Shares in the capital of the Company, which was equal to 13.3% of the issued and outstanding Common Shares of the Company.
Following the Disposition, 118 holds 4,500,000 Common Shares in the capital of the Company, which is equal to 10.1% of the issued and outstanding Common Shares of the Company.
118 disposed of 1,500,000 Common Shares of the Company for purposes of estate planning and monetization. 118 reserves the right to formulate other plans or make other proposals, and take such actions with respect to its investment in the Issuer. Depending on market conditions and other factors, 118 may acquire additional securities of the Issuer 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 requires a report to be filed with regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters (the “Early Warning Report”). A copy of the Early Warning Report will be available under the Company’s SEDAR profile at www.sedar.com and may be obtained by contacting Mr. Charanjit Hayre, Director of 118, at (604) 537-9386.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.