Business
Conversion of Vitality's 22,775 Class "A" Preference Shares, Series 4
Conversion of Vitality's 22,775 Class "A" Preference Shares, Series 4.
About this update from Vitality Products Inc.
[{"type":"text","content":"\n\n\n\nTrading Symbol: VPI\n\n\nVANCOUVER, Oct. 3 /CNW/ - Vitality Products Inc. (the "Company") has\nissued to D.B.C. Financial Corporation ("D.B.C.") a total of 842,827 common\nshares in the capital of the Company pursuant to the conversion by D.B.C. of\nits 22,775 Class "A" Preference Shares, Series 4 at a deemed value of\n$10.00 per share in the capital of the Company, plus all unpaid dividends\naccrued thereon to the date of conversion, at the conversion price of\n$0.35 per common share. The Class "A" Preference shares, Series 4, with a par\nvalue of $10 each have a 6% cumulative dividend and are convertible into\ncommon shares of the Company at a price of $0.35 per common share on or before\nOctober 31, 2007. William N. Grant, a director and officer of the Company,\nindirectly owns D.B.C.\n\n\nUpon the completion of the conversion, the Company has 18,684,400 common\nshares outstanding and no Class "A" Preference shares, Series 4 outstanding.\n\n\nOn behalf of the Board of\n\n\nVITALITY PRODUCTS INC.\n\n\n"William N. Grant" (signed)\n\n\n---------------------------\n\n\nWilliam N. Grant, President & CEO\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\n\n\nresponsibility for the adequacy or accuracy of this release.\n\n\n%SEDAR: 00005856E\n\n\n","length":1424,"tagName":"div"}]