Glenn Pountney

November 24, 2014 17:42 ET

Glenn Pountney Announces Late Filing of Early Warning Report Relating to VMS Ventures Inc.

NIAGARA FALLS, ONTARIO--(Marketwired - Nov. 24, 2014) - Glenn Pountney announced today that, following the acquisition of common shares (the "Common Shares") of VMS Ventures Inc. (the "Company") through the facilities of the TSX Venture Exchange, Mr. Pountney beneficially owned an aggregate of 24,481,000 Common Shares as at October 30, 2014, representing approximately 18.18% of the then issued and outstanding Common Shares.

On November 6, 2013, Mr. Pountney issued a news release and filed an early warning report announcing that he had acquired 10.06% of the Common Shares. Between November 6, 2013 and October 30, 2014, Mr. Pountney acquired an aggregate of 11,424,500 Common Shares through the facilities of the TSX Venture Exchange. When added to the 13,056,500 Common Shares previously acquired by Mr. Pountney and pursuant to which he issued a news release and filed an early warning report, Mr. Pountney beneficially owned an aggregate of 24,481,000 Common Shares as at October 30, 2014, representing approximately 18.18% of the then issued and outstanding Common Shares. Mr. Pountney acquired an additional 2% of the Common Shares beyond that held on November 6, 2013 on March 24, 2014, September 2, 2014, September 24, 2014 and October 30, 2014, respectively, and news releases and early warning reports required by applicable securities legislation were not filed on such dates as a result of inadvertence.

Since October 30, 2014, Mr. Pountney has acquired an additional 2,476,500 Common Shares and, as at the date hereof, Mr. Pountney owns an aggregate of 26,957,500 Common Shares, representing approximately 19.99% of the issued and outstanding Common Shares.

Mr. Pountney acquired all of the above-noted Common Shares for investment purposes and not for the purpose of exercising control or direction over the Company. Mr. Pountney may continue to acquire and/or dispose of additional securities of the Company according to market conditions and other relevant factors in the future.

An Early Warning Report reflecting the above-noted acquisitions of Common Shares has now been filed, a copy of which is available on SEDAR at www.sedar.com.

In accordance with applicable securities legislation, Mr. Pountney has filed insider trading reports via the System for Electronic Disclosure by Insiders (SEDI) for all transactions involving Common Shares during the period in which he has been an insider of the Company.

Glenn Pountney
5799 Jake Crescent
Niagara Falls, Ontario
L2H 0G3

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