Modern PVC Inc MPVC

stockwatch

[bandi10]

EPORT PURSUANT TO NATIONAL INSTRUMENT 62-103 EARLY WARNING REPORT

1. Name and address of Offeror:
   Charles E. Fipke (“Fipke”), c/o 203-1634 Harvey Avenue, Kelowna, British

   Columbia, V1Y 6G2

2. The designation and number or principal amount of securities and the Offeror’s security holding percentage in the class of securities of which the Offeror acquired ownership or control in the transaction or occurrence giving rise to the obligation to file the news release, and whether it was ownership or control that was acquired in those circumstances:

   Fipke, through C. Fipke Holdings Ltd., acquired beneficial ownership and control of 5,000,000 common shares of Northern Uranium Inc. (“UNO”). These shares represent 9.81% of the issued and outstanding common shares of UNO.

3. The designation and number or principal amount of securities and the Offeror’s security holding percentage in the class of securities immediately after the transaction or occurrence giving rise to the obligation to file the news release:

   Immediately following the acquisition of the securities detailed above, Fipke beneficially owns or controls 13,500,000 common shares, 1,000,000 warrants and 500,000 options in the capital of UNO. These securities represent 28.59% of the issued and outstanding common shares of UNO, assuming the exercise of the warrants and options held by Fipke.

4. The designation and number or principal amount of securities and the percentage of outstanding securities of the class of securities referred to in paragraph 3 over which:

1. (a)  the Offeror, either alone or together with any joint actors, has ownership and control:

   Fipke, directly and indirectly through C. Fipke Holdings Ltd., has ownership and control over an aggregate of 13,500,000 common shares, 1,000,000 warrants and 500,000 options of UNO, representing 28.59% of the issued and outstanding common shares of UNO, assuming exercise of the warrants and options held by Fipke.

2. (b)  the Offeror, either alone or together with any joint actors, has ownership but control is held by other persons or companies other than the Offeror or any joint actor:

   Not applicable.

[dabirdman]

So what does this mean? So Fipke owns and controls, on a fully diluted basis, ~30% of the company. Is this a big deal because he, being the consulting P. Geo for the project, knows its potential and that makes UNO a screaming buy?

[bandi10]

I'm not sure, whether Fipke's envolvment means much of a bonus anymore. I'd wait and see some progress, before I'd jump to saying, that UNO is a screaming buy. At this point they are mum on any work progress.