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| | Tue Aug 6, 2002
Private Placement
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| | Purchase of shares by way of private placement and Shares for Debt in the capital of Firestone Ventures Inc. (the "Company") Report required by Section 111 of the British Columbia Securities Act
Further to the Company's news release dated July 22, 2002 the following individuals or Corporations by virtue of certain transactions have become securityholders holding more than 10% in the capital of the Company.
461886 BC Ltd. has purchased a total of 600,000 units at a price of $0.10 per unit in the capital of Firestone Ventures Inc. by way of private placement. Each unit consists of one common share and one warrant to purchase an additional common share at a price of $0.14 per share for a period of two years. The issuance of the 600,000 units will result in 461886 BC Ltd. owning or exercising control over 600,000 common shares of the Company representing 12.5% of the issued and outstanding shares of the Company and holding warrants to purchase an additional 600,000 common shares in the capital of the Company.
461886 BC Ltd. has acquired these securities for investment purposes. It is its intention to evaluate the investment in the Company and to increase and decrease its shareholdings as circumstances require.
Sonny Chew has purchased a total of 600,000 units at a price of $0.10 per unit in the capital of Firestone Ventures Inc. by way of private placement. Each unit consists of one common share and one warrant to purchase an additional common share at a price of $0.14 per share for a period of two years. The issuance of the 600,000 units will result in Sonny Chew owning or exercising control over 608,583 common shares of the Company representing 12.6% of the issued and outstanding shares of the Company and holding warrants to purchase an additional 600,000 common shares in the capital of the Company.
Sonny Chew has acquired these securities for investment purposes. It is his intention to evaluate the investment in the Company and to increase and decrease his shareholdings as circumstances require.
Ellen Chew has received a total of 900,000 common shares at a deemed price of $0.10 per share in the capital of the Company by way of shares for debt. The issuance of the 900,000 common shares will result in Ellen Chew owing or exercising control of shares in the Company representing 18.8% of the issued and outstanding shares of the Company.
Ellen Chew has received these securities for investment purposes. It is her intention to evaluate the investment in the Company and to increase and decrease her shareholdings as circumstances require.
Harry Chew has received a total of 900,000 common shares at a deemed price of $0.10 per share in the Capital of Firestone Ventures Inc. by way of shares for debt. The issuance of the 900,000 common shares will result in Harry Chew owing or exercising control over 928,646 common shares of the Company representing 19.4% of the issued and outstanding shares of the Company.
Harry Chew has received these securities for investment purposes. It is his intention to evaluate the investment in the Company and to increase and decrease his shareholdings as circumstances require.
"Harry Chew" "Ted Y. Nitta"
Harry Chew 461886 BC Ltd. (President)
"Ellen Chew" "Sonny Chew"
Ellen Chew Sonny Chew
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. |
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