PXI:CC - Early Warning Report Filed Pursuant to National Instrument 62-103
(TheNewswire)
February 22, 2024 – TheNewswire - VANCOUVER,BRITISH COLUMBIA – This press release isrelated to the securities of Planet Ventures Inc. (CSE:PXI) (“ Planet ” or the“ Company ”). Transcend Capital Inc.(“ TranscendCapital ”) announces that on February 21, 2024,it acquired 39,000,000 common shares in the capital of the Company (each, a “ Share ”) at a priceof $0.02 per Share, for an aggregate purchase price of $780,000.00(the “ Acquisition ”). Transcend Capital is acorporation incorporated pursuant to the laws of British Columbia,with its head office located at 750 West Pender Street, Suite 303,Vancouver, British Columbia, V6C 2T7. Transcend Capital Inc. is aninvestment firm specializing in venture capital investments andadvisory services.
Transcend Capital acquired the Shares pursuant to anon-brokered private placement of Shares (the “ Offering ”). Inconnection with the completion of the Offering, Planet Ventures issued100,000,000 Shares at a price of $0.02 per Share for aggregate grossproceeds of $2,000,000.
Prior to the Acquisition, Transcend Capital held noShares. Following the Acquisition, Transcend Capital holds anaggregate of 39,000,000 Shares, representing 18.52% of the issued andoutstanding Shares on an undiluted basis (based on an aggregate of210,625,672 Shares issued and outstanding).
Transcend Capital acquired the Shares for investment purposes. In pursuingsuch purposes, Transcend Capital reserves the right to formulate other plans or make otherproposals and take such actions deemed necessary with respect to itsinvestment in the Company. Depending on the market conditions andother factors, Transcend Capital may, from time to time, increase or decrease its beneficialownership of the securities of the Company as deemedappropriate.
This news release is being issued in connection withthe filing of an early warning report (the “ Early Warning Report )pursuant to the requirements of National Instrument 62-103 – The Early Warning System andRelated Take-Over Bid and Insider Reporting Issues and National Instrument 62-104 – Take-Over Bids and Issuer Bids . A copy of the Early Warning Report will be filed under theCompany’s profile on SEDAR+ at www.sedarplus.ca and mayalso be obtained by contacting: Etienne Moshevich at (604) 681-0084.
The Company’s head office is located at 750 WestPender Street, Suite 303, Vancouver, British Columbia, V6C 2T7.
THIS NEWS RELEASEIS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRES OR DISSEMINATION INTHE UNITED STATES
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