Robert McEwen

December 30, 2010 10:20 ET

Robert McEwen Files Early Warning Report in Connection With Private Placement in Vantex Resources Inc.

TORONTO, ONTARIO--(Marketwire - Dec. 30, 2010) - Robert McEwen has subscribed, by way of a private placement for 560 flow-through units (the "Flow-Through Units") of Vantex Resources Inc. ("Vantex") at a price of $1250 per Flow-Through Unit for an aggregate amount of $700,000. Each Flow-Through Unit consists of 4000 flow-through common shares and 1000 common shares (each a "Share") at a price of $0.25 per share (the "Transaction"). The Shares purchased pursuant to the Transaction represent approximately 7.4% of the current number of outstanding Shares of Vantex. The Shares were issued from Vantex' treasury.

Mr. McEwen entered into the Transaction for investment purposes and may increase or reduce his investment in Vantex according to market conditions or other relevant factors.

Upon completion of the Transaction, Mr. McEwen will hold 5,800,000 Shares and 1,500,000 warrants convertible into Shares, for a total of 7,300,000 Shares of Vantex, representing approximately 12.78% of Vantex' issued and outstanding shares.

A copy of the early warning report filed in connection with the Transaction will be made available on SEDAR (www.sedar.com).

Contact Information

  • Robert McEwen
    (647) 258-0395
    99 George Street, 3rd Floor
    Toronto, ON M5A 2N4