McEwen
Robert McEwen Enters Into Transaction of Private Placement of Vantex
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Manufacturing Close - Up,
Jan 5, 2011
Robert McEwen has subscribed, by way of a private placement for 560 flow-through units of Vantex Resources Inc. at a price of $1250 per Flow-Through Unit for an aggregate amount of $700,000.
Each Flow-Through Unit consists of 4000 flow-through common shares and 1000 common shares (each a "Share") at a price of
.25 per share (the "Transaction"). McEwan said that the Shares purchased pursuant to the Transaction represent approximately 7.4 percent of the current number of outstanding Shares of Vantex. The Shares were issued from Vantex' treasury.
McEwen reported that he entered into the Transaction for investment purposes and may increase or lower his investment in Vantex according to market conditions or other relevant factors.
Upon completion of the Transaction, McEwen noted that it would hold 5,800,000 Shares and 1,500,000 warrants convertible into Shares, for a total of 7,300,000 Shares of Vantex, representing approximately 12.78 percent of Vantex' issued and outstanding shares.
Would anyone know where McEwen stands in Vantex? Any updates?