(TheNewswire)
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February 2, 2024 – TheNewswire - VANCOUVER, BRITISH COLUMBIA – Planet Ventures Inc. ( ?CSE:PXI?) (the“ Company ” or “ PlanetVentures ”) announces that on February 1, 2024,the Company acquired 2,777,778 units (“ Units ”) of TisdaleClean Energy Corp. (“ Tisdale ”), a corporation with its headoffice located at 885 West Georgia Street, Suite 2200, Vancouver,British Columbia, V6C 3E8, at a price of $0.18 per Unit, for anaggregate purchase price of $500,000.04 (the “ Acquisition ”). EachUnit is comprised of one common share in the capital of Tisdale (a“ Share ”) and one Share purchase warrant (a “ Warrant ”) entitlingthe holder thereof to acquire one additional Share at a price of $0.30for a period of 24 months from the date of issuance.
The Company acquired the Units pursuant to the secondtranche of Tisdale’s non-brokered private placement of Units (the“ Offering ”). In connection with the completion of the second trancheof the Offering, Tisdale issued 6,362,216 Units at a price of $0.18per Unit for aggregate gross proceeds of $1,145,199.
Prior to the Acquisition, the Company held 1,111,111Units acquired through the first tranche of the Offering, representing4.83% of the issued and outstanding Shares on an undiluted basis and9.66% of the issued and outstanding Shares on a partially diluted basis (based on anaggregate of 22,993,362 Shares issued and outstanding). Following theAcquisition, the Company holds an aggregate of 3,888,889 Units,representing 13.25% of the issued and outstanding Shares on anundiluted basis and 26.5% of the issued andoutstanding Shares on a partially diluted basis(based on an aggregate of 29,355,578 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 Tisdale. Depending onmarket conditions and other factors, the Company may, from time totime, increase or decrease its beneficial ownership of the securitiesof Tisdale as 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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