Business
William N. Grant acquires 641,171 common shares of Vitality
William N. Grant acquires 641,171 common shares of Vitality.
About this update from Vitality Products Inc.
[{"type":"text","content":"\n\n\n\nTrading Symbol: VPI\n\n\nVANCOUVER, Oct. 18 /CNW/ - Mr. William N. Grant, President & CEO of\nVitality Products Inc. ("Vitality"), wishes to announce that he has acquired\nindirect ownership of 641,171 common shares in the capital of Vitality\npursuant to the conversion by Consolidated Firstfund Capital Corp.\n("Firstfund") and Costar Marketing Corp. ("Costar") of Class "A" Preference\nShares, Series 5 at a deemed value of $10.00 per share in the capital of\nVitality ("Preference Shares"). Firstfund acquired 570,299 common shares\npursuant to the conversion of its 15,611 Preference Shares, plus all unpaid\ndividends accrued thereon to the date of conversion, at the conversion price\nof $0.3388 per common share. Costar acquired 70,872 common shares pursuant to\nthe conversion of its 1,940 Preference Shares, plus all unpaid dividends\naccrued thereon to the date of conversion, at the conversion price of\n$0.3388 per common share. William N. Grant, a director and officer of\nVitality, owns 72.2% of Firstfund. Costar is a wholly owned subsidiary of\nFirstfund.\n\n\nUpon the completion of the conversions, Vitality has 19,887,285 common\nshares outstanding. The 641,171 common shares purchased by Firstfund and\nCostar through the conversions represent 3.22% of the outstanding common\nshares of Vitality. After the completion of the conversions, Mr. Grant,\nthrough either direct ownership or indirect ownership, beneficially owns and\ncontrols 3,378,585 common shares or 16.99% of the outstanding common shares of\nVitality.\n\n\nMr. Grant acquired the common shares for investment purposes and may,\ndepending on market and other conditions, increase or decrease his ownership\nposition in securities of the Issuer through market transactions, private\nagreements, treasury issuances, exercise of options, convertible securities or\notherwise. A copy of the Early Warning Report will be available on the SEDAR\nwebsite at www.sedar.com.\n\n\n"William N. Grant" (signed)\n\n\n----------------------------------\n\n\nWilliam N. Grant\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":2334,"tagName":"div"}]