TORONTO, ONTARIO--(Marketwired - Oct. 8, 2014) - Michael Stein (the "Shareholder") announced today that he received through his wholly owned holding company, WFE Investments Corp., 5,000,000 common shares (the "Settlement Shares") of Danbel Ventures Inc. (the "Company") at a price of $0.05 per Settlement Share in satisfaction of $250,000 of outstanding shareholder loans owed by the Company to the Shareholder pursuant to a debt settlement agreement dated October 8, 2014.
Prior to the acquisition of the Settlement Shares, the Shareholder owned directly and indirectly 58,881 common shares (the "Existing Shares") of the Company representing approximately 8.8% of the outstanding common shares of the Company.
The Settlement Shares together with the Existing Shares results in the Shareholder having ownership or control over 5,058,881 common shares of the Company, representing approximately 89.3% of the outstanding common shares of the Company. The Shareholder also holds a secured promissory note for approximately $250,000 of debt owned by the Company to the Shareholder as at October 8, 2014.
The Shareholder may from time to time, increase or decrease his ownership of securities of the Company depending upon future market conditions.
Contact Information:
(416) 816-9690