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THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRES OR DISSEMINATION IN THE UNITED STATES
October 10, 2024 – TheNewswire - VANCOUVER, BRITISH COLUMBIA – This press release is related to the securities of Planet Ventures Inc. (“Planet” or the “Company”). Mr. Etienne Moshevich, Chief Executive Officer of the Company, announces the filing of an early warning report (the “Early Warning Report”) pursuant to the requirements of National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (“NI 62-103”) and National Instrument 62-104 – Take-Over Bids and Issuer Bids (“NI 62-104”) pursuant to a series of recent acquisitions (the “Acquisitions”) of common shares in the capital of the Company (each, a “Share” and collectively, the “Shares”), as further detailed below.
Between September 12, 2024, and October 7, 2024, Mr. E. Moshevich, acquired an aggregate of 600,000 Shares through the facilities of the Canadian Securities Exchange (“CSE”), as further detailed in the table below:
Date | No. of Shares Acquired | Price per Share | Aggregate Purchase Price |
September 12, 2024 | 150,000 | $0.03 | $4,500.00 |
September 26, 2024 | 100,000 | $0.03 | $3,000.00 |
September 30, 2024 | 10,000 | $0.03 | $300.00 |
October 2, 2024 | 2,000 | $0.03 | $60.00 |
October 3, 2024 | 155,000 | $0.03 | $4,650.00 |
October 4, 2024 | 93,000 | $0.03 | $2,790.00 |
October 7, 2024 | 90,000 | $0.03 | $2,700.00 |
TOTAL | 0 | 0 |
On October 9, 2024, Mr. E. Moshevich acquired an aggregate of 30,500,000 Shares through Transcend Capital Inc. (“Transcend Capital”) as follows: 15,250,000 Shares were purchased from each of Mr. Mikhail Moshevich and Ms. Regina Moshevich through private sales at a price of $0.025 per Share, for a total purchase price of $762,500 in cash. Transcend Capital, a corporation 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, is controlled by Mr. E. Moshevich. Transcend Capital Inc. is an investment firm specializing in venture capital investments and advisory services.
Prior to the Acquisitions, Mr. E. Moshevich was the beneficial owner of 40,382,000 Shares held through Transcend Capital, representing approximately 19.62% of the issued and outstanding Shares on an undiluted basis (based on an aggregate of 208,141,672 Shares issued and outstanding).
Upon completion of the Acquisitions, the Mr. E. Moshevich now holds 71,932,000 Shares (of which 71,332,000 Shares are held through Transcend Capital), representing approximately 34.56% of the issued and outstanding Shares on an undiluted basis (based on an aggregate of 208,141,672 Shares issued and outstanding).
The acquisition of the Shares by Transcend Capital were made in reliance on the “private agreement exemption” from the formal take-over bid provisions of NI 62-104, as outlined in Section 4.2 of Part 4 of NI 62-104. More specifically, (a) the acquisitions were made from not more than five (5) persons in the aggregate, including persons located outside the local jurisdiction; (b) the bid was not made generally to security holders of the class of Shares; and (c) the value of the consideration paid for the Shares, including brokerage fees or commissions, was not greater than 115% of the market price of the Shares at the date of the acquisition as determined in accordance with Section 1.11 of NI 62-104.
Mr. E. Moshevich acquired the Shares for investment purposes. In pursuing such purposes, Mr. E. Moshevich reserves the right to formulate other plans or make other proposals and take such actions deemed necessary with respect to his investment in the Company. Depending on the market conditions and other factors, Mr. E. Moshevich may, from time to time, increase or decrease his beneficial ownership of the securities of the Company as deemed appropriate.
This news release is being issued in connection with the filing of the Early Warning Report pursuant to the requirements of NI 62-103 and NI 62-104. A copy of the Early Warning Report will be filed under the Company’s profile on SEDAR+ at www.sedarplus.ca and may also be obtained by contacting: Etienne Moshevich at (604) 681-0084.
The Company’s head office is located at 750 West Pender Street, Suite 303, Vancouver, British Columbia, V6C 2T7.
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