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February 22, 2024 – TheNewswire - VANCOUVER, BRITISH COLUMBIA – This press release is related to the securities of Planet Ventures Inc. (CSE:PXI) (“Planet” or the “Company”). Transcend Capital Inc. (“Transcend Capital”) announces that on February 21, 2024, it acquired 39,000,000 common shares in the capital of the Company (each, a “Share”) at a price of $0.02 per Share, for an aggregate purchase price of $780,000.00 (the “Acquisition”). Transcend Capital is 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. Transcend Capital Inc. is an investment firm specializing in venture capital investments and advisory services.
Transcend Capital acquired the Shares pursuant to a non-brokered private placement of Shares (the “Offering”). In connection with the completion of the Offering, Planet Ventures issued 100,000,000 Shares at a price of $0.02 per Share for aggregate gross proceeds of $2,000,000.
Prior to the Acquisition, Transcend Capital held no Shares. Following the Acquisition, Transcend Capital holds an aggregate of 39,000,000 Shares, representing 18.52% of the issued and outstanding Shares on an undiluted basis (based on an aggregate of 210,625,672 Shares issued and outstanding).
Transcend Capital acquired the Shares for investment purposes. In pursuing such purposes, Transcend Capital reserves the right to formulate other plans or make other proposals and take such actions deemed necessary with respect to its investment in the Company. Depending on the market conditions and other factors, Transcend Capital may, from time to time, increase or decrease its beneficial ownership of the securities of the Company as deemed appropriate.
This news release is being issued in connection with 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 and National Instrument 62-104 – Take-Over Bids and Issuer Bids. 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.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRES OR DISSEMINATION IN THE UNITED STATES
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