Michael J. Gingles

September 17, 2009 14:41 ET

Michael J. Gingles Acquires 1,375,320 Common Shares of Fortune Valley Resources Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 17, 2009) - Michael J. Gingles of Castle Rock, Colorado announces that on September 15, 2009 he acquired ownership of 1,375,320 Common shares of Fortune Valley Resources Inc. (the "Company") (TSX-V: FVX) at a price of Cdn$0.05 per Common share. The 1,375,320 Common shares represent approximately 4.0% of the current total issued and outstanding Common shares of the Company. After giving effect to the transaction, Michael J. Gingles beneficially owns or directly controls 4,232,320 Common shares of the Company or 12.2% of the issued and outstanding Common shares of the Company.

Michael J. Gingles acquired the 1,375,320 Common shares of the Company for the partial settlement of debt owed to him by the Company. Michael J. Gingles relied on section 2.14 of National Instrument 45-106 - Prospectus and Registration Exemptions, as the Common shares were issued to settle a debt of the Company.

A copy of the early warning report to be filed in connection with the above transaction may be obtained from Michael J. Gingles at 303-663-5970.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Michael J. Gingles
    303-663-5970