Trading Symbol: VPI
VANCOUVER, April 28 /CNW/ - Vitality Products Inc. (the "Company") has issued a notice of redemption to William N. Grant, a holder of the Class "A" Preference Shares, Series 3 (the "Preference Shares"), to redeem his 9,300 Preference Shares with a par value of $93,000 plus all unpaid dividends of $34,821.64 accrued thereon to April 28, 2008. William N. Grant is a director and officer of the Company and the Company's independent Board members approved the redemption.
The Preference Shares, with a par value of $10 each, have a 6% cumulative dividend payable annually commencing January 31, 2003. The Company is entitled to redeem at any time any outstanding Preference Shares by paying the holder thereof the redemption price of $10 per Preference Share plus all unpaid dividends accrued thereon to the date of redemption.
Upon the completion of the redemption, the Company has 26,920 Class "A" Preference Shares, Series 3 outstanding with a par value of $269,200 plus all unpaid dividends of $100,795.54 accrued thereon to April 28, 2008.
On behalf of the Board of
VITALITY PRODUCTS INC.
"William N. Grant" (signed)
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William N. Grant, President & CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
%SEDAR: 00005856E