PXI:CC - Planet Ventures Inc. Announces Filing of Early Warning Report
(TheNewswire)
THIS NEWS RELEASEIS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRES OR DISSEMINATION INTHE UNITED STATES
April 4, 2024 – TheNewswire - VANCOUVER, BRITISH COLUMBIA – Planet Ventures Inc. ( ?CSE: PXI?) (the“ Company ” or “ PlanetVentures ”) announces that on April 3, 2024,the Company acquired 4,000,000 units (each, a “ Unit ”) of VIPEntertainment Technologies Inc. (“ VIP ”) at a price of$0.05 per Unit, for an aggregate purchase price of $200,000 (the“ Acquisition ”). VIP is a corporation existing pursuant to the laws ofthe Province of Alberta, with its head office located at 5004 th Avenue SW, Suite 3200, Calgary, Alberta, T2P 2V6.
Each Unit is comprised of one common share in thecapital of VIP (a “ Share ”) and one-half of one Share purchasewarrant (each whole warrant, a “ Warrant ”) entitlingthe holder thereof to acquire one additional Share at a price of $0.10for a period of 18 months from the date of issuance.
The Company acquired the Units pursuant to VIP’snon-brokered private placement of Units (the “ Offering ”). Inconnection with the completion of the Offering, VIP issued 11,865,000Units at a price of $0.05 per Unit for aggregate gross proceeds of$593,250.
Prior to the Acquisition, the Company did notbeneficially own or control any securities of VIP. Following theAcquisition, the Company holds an aggregate of 4,000,000 Units,representing 10.27% of the issued and outstanding Shares on anundiluted basis and 15.41% of the issued andoutstanding Shares on a partially diluted basis(based on an aggregate of 38,931,252 Shares issued and outstanding).
The Company acquired the Units for investment purposes.In pursuing such purposes, the Company reserves the right to formulateother plans or make other proposals and take such actions deemednecessary with respect to its investment in VIP. Depending on marketconditions and other factors, the Company may, from time to time,increase or decrease its beneficial ownership of the securities of VIPas deemed appropriate.
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 may also beobtained by contacting: Etienne Moshevich, Chief Executive Officer ofthe Company, at info@planetventures.com or (604) 681-0084.
About the Company
Planet Ventures is an investment issuer listed on theTSXV that is focused on investing in disruptive companies andindustries that have high growth potential. Planet Ventures’ uniqueportfolio driven investment policies provide its investors with accessto emerging and high-growth opportunities while shielding them fromany formidable downside. For more information, please visit PlanetVentures’ website: https://planetventuresinc.com/ .
The Company’s head office is located at 750 WestPender Street, Suite 303, Vancouver, British Columbia, V6C 2T7.
ON BEHALF OF THE COMPANY
“Etienne Moshevich”
Etienne Moshevich
Chief Executive Officer
FOR FURTHER INFORMATION, PLEASECONTACT
PLANET VENTURES INC.
Tel: (604) 681-0084
Email: info@planetventuresinc.com
CAUTIONARY STATEMENT ONFORWARD-LOOKING INFORMATION
This news release contains certainforward-looking information and forward-looking statements, as definedin applicable securities laws (collectively referred to herein as"forward-looking statements"). These statements relate tofuture events or the Company's future performance. All statementsother than statements of historical fact are forward-lookingstatements. Often, but not always, forward-looking statements can beidentified by the use of words such as "plans","expects", "is expected", "budget","scheduled", "estimates", "continues","forecasts", "projects", "predicts","intends", "anticipates" or "believes",or variations of, or the negatives of, such words and phrases, orstate that certain actions, events or results "may","could", "would", "should","might" or "will" be taken, occur or be achieved.Inherent in forward-looking statements are risks, uncertainties andother factors beyond the Company's ability to predict or control.Please also make reference to those risk factors referenced in the“Risk Factors” section of the Company’s most recently filedmanagement’s discussion and analysis.
Forward-looking statements involveknown and unknown risks, uncertainties and other factors that maycause actual results to differ materially from those anticipated insuch forward-looking statements. The forward-looking statements inthis news release speak only as of the date hereof or as of the datespecified in such statement. Readers are cautioned that theforward-looking statements above do not contain an exhaustive list ofthe factors or assumptions that may affect the forward-lookingstatements, and that the assumptions underlying such statements mayprove to be incorrect. Actual results and developments are likely todiffer, and may differ materially, from those expressed or implied bythe forward-looking statements contained in this news release.
All forward-looking statementsherein are qualified by this cautionary statement. Accordingly,readers should not place undue reliance on forward-looking statements.The Company undertakes no obligation to update publicly or otherwiserevise any forward-looking statements, whether as a result of newinformation or future events or otherwise, except as may be requiredby law. If the Company does update one or more forward-lookingstatements, no inference should be drawn that it will make additionalupdates with respect to those or other forward-looking statements,unless required by law.
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