Business
William N. Grant increases ownership position in Vitality
William N. Grant increases ownership position in Vitality.
About this update from Vitality Products Inc.
[{"type":"text","content":"\n\n\n\nTrading Symbol: VPI\n\n\nVANCOUVER, Sept. 19 /CNW/ - Mr. William N. Grant, President & CEO of\nVitality Products Inc. ("Vitality"), wishes to announce that he has acquired\nownership of 75,000 units at $0.20 per unit through Vitality's non-brokered\nprivate placement that closed on September 11, 2007. Each unit consists of one\ncommon share and one share purchase warrant in the capital of Vitality. Each\nwarrant will entitle Mr. Grant to acquire one additional common share in the\ncapital of Vitality for a period of two years at a purchase price per common\nshare of $0.25 at any time up to and including September 11, 2008 and at a\npurchase price per common share of $0.30 at any time up to and including\nSeptember 11, 2009. The shares and any shares acquired upon exercise of the\nwarrants are subject to a four-month hold period that expires on January 12,\n2008.\n\n\nIn addition, Mr. Grant has acquired ownership of 440,000 common shares in\nthe capital of Vitality through the settlement of aggregate indebtedness in\nthe amount of $88,000 at a deemed settlement price of $0.20 per share.\nVitality's shares for debt transaction closed on September 11, 2007. The\nshares are subject to a four-month hold period that expires on January 12,\n2008.\n\n\nUpon the completion of its non-brokered private placement transaction and\nshares for debt transaction, Vitality has 17,841,573 common shares outstanding\nand 4,937,500 warrants. The 515,000 common shares and the 75,000 warrants\npurchased by Mr. Grant through the transactions represent 2.89% of the\noutstanding common shares of Vitality and 1.52% of the outstanding warrants of\nVitality. After the completion of the transactions, Mr. Grant beneficially\nowned and controlled 2,419,914 common shares or 13.56% of the outstanding\ncommon shares of Vitality and 75,000 warrants or 1.52% of the outstanding\nwarrants of Vitality.\n\n\nMr. Grant acquired the common shares and warrants for investment purposes\nand may, depending on market and other conditions, increase or decrease his\nownership position in securities of the Issuer through market transactions,\nprivate agreements, treasury issuances, exercise of options, convertible\nsecurities or otherwise. A copy of the Early Warning Report is available on\nthe SEDAR website at www.sedar.com.\n\n\n"William N. Grant"...