Mr. Stephen Leahy

Mr. Kenneth Collison

September 18, 2014 20:01 ET

Shareholder News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 18, 2014) - This shareholder news release is being filed on behalf of Mr. Stephen Leahy of 3995 Hillcrest Ave, North Vancouver, BC, V7R 4B7 ("Mr. Leahy") and Mr. Kenneth Collison #2502 - 699 Cardero St., Vancouver, BC, V6G 3H7 ("Mr. Collison") who have filed an early warning report dated September 16, 2014 (the "Early Warning Report") advising of their respective holdings in International Tungsten Inc. ("ITI" or the "Company").

Mr. Leahy has acquired beneficial ownership and control of 1,057,200 common shares of the Company at a price of $0.05 per share pursuant to a Common Share Subscription Agreement between Mr. Leahy and the Company. As a result of the completion of this transaction, Mr. Leahy beneficially owns and controls 3,407,200 common shares of the Company, representing approximately 33.3% of the issued and outstanding common shares of the Company. Pursuant to the terms of the Common Share Subscription Agreement, the Company received cash proceeds of $52,860.00 from Mr. Leahy in exchange for 1,057,200 common shares of the Company.

The Shares issued to Mr. Leahy under the transaction were exempted from the prospectus requirement under the friends, family and business associates exemption set out in section 2.5 of National Instrument 45-106 - Prospectus and Registration Exemptions.

The common shares of the Company are currently not listed on any exchange. Mr. Leahy acquired the Shares for investment purposes. In pursuing such purposes, Mr. Leahy takes a long term view of the investment and reserves the right to formulate other plans or make other proposals, and take such actions with respect to its investment in the Company. Mr. Leahy may at any time reconsider and change his plans or his proposals relating to the foregoing. No person acted jointly or in concert with Mr. Leahy in making this acquisition.

Mr. Collison has acquired beneficial ownership and control of 1,000,000 common shares of the Company at a price of $0.05 per share pursuant to a Common Share Subscription Agreement between Mr. Collison and the Company. As a result of the completion of this transaction, Mr. Collison beneficially owns and controls 1,000,000 common shares of the Company, representing approximately 9.8% of the issued and outstanding common shares of the Company. Pursuant to the terms of the Common Share Subscription Agreement, the Company received cash proceeds of $50,000.00 from Mr. Collison in exchange for 1,000,000 common shares of the Company.

The Shares issued to Mr. Collison under the Transaction were exempted from the prospectus requirement under the friends, family and business associates exemption set out in section 2.5 of National Instrument 45-106 - Prospectus and Registration Exemptions.

The common shares of the Company are currently not listed on any exchange. Mr. Collison acquired the Shares for investment purposes. In pursuing such purposes, Mr. Collison takes a long term view of the investment and reserves the right to formulate other plans or make other proposals, and take such actions with respect to its investment in the Company. Mr. Collison may at any time reconsider and change his plans or his proposals relating to the foregoing. No person acted jointly or in concert with Mr. Collison in making this acquisition.

This news release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Company is a reporting issuer containing additional information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with the Company's documents on the SEDAR website at www.sedar.com. A copy of the Early Warning Report may also be obtained by contacting Donald Crossley at 604-669-3610.

"Stephen Leahy", STEPHEN LEAHY

"Kenneth Collison", KENNETH COLLISON

Contact Information

  • Donald Crossley
    604-669-3610