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PSP

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Share Name Share Symbol Market Type
TSXV:PSP TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Terry Vaudry Acquires Shares of Pacific Safety Products Inc.

21/08/2013 10:51pm

Marketwired Canada


Mr. Terry Vaudry, a director and officer of Pacific Safety Products Inc. (the
"Company") (TSX VENTURE:PSP), has acquired from Stonehouse Capital Management
Inc. on August 21, 2013, a total of 5,000,000 common shares of the Company (the
"Acquired Shares") at a price of $0.05 per share, representing approximately
7.78% of the issued and outstanding common shares (the "Common Shares") of the
Company (assuming no options or warrants of the Company are exercised).


Following the acquisition, Mr. Vaudry has beneficial ownership of, or the power
to exercise control or direction over, the following securities of the Company:
(i) 11,069,352 Common Shares; and (ii) 750,000 options (the "Vaudry Options") to
purchase Common Shares at an exercise price of $0.10 per share. Assuming the
exercise of the Vaudry Options, Mr. Vaudry would have beneficial ownership of,
or the power to exercise control or direction over, an aggregate of 11,819,352
Common Shares, representing approximately 18.22% of the then issued and
outstanding Common Shares (assuming no options or warrants are exercised other
than the Vaudry Options). Of the securities described above, North American
Logistics Inc. ("NAL"), a company wholly-owned by Mr. Vaudry, has beneficial
ownership of 1,943,352 Common Shares (the "NAL Shares"). Vaudry has the power to
exercise control or direction over the NAL Shares. On August 17, 2010, NAL was
issued an aggregate principal amount of $250,000 of convertible debentures (the
"Debentures"), convertible into Common Shares at an exercise price of $0.10 per
share. The foregoing Debentures have been amended and restated, as described in
the Company's press release dated August 19, 2013, whereby, inter alia, the
conversion feature of the Debentures has been removed. NAL was issued 1,100,000
of the aggregate NAL Shares it currently holds as a bonus, in accordance with
Policy 5-1 of the TSX Venture Exchange, in connection with the amendment and
restatement of the Debentures. 


The Acquired Shares were purchased through the facilities of the Alpha Exchange. 

The Acquired Shares were acquired for investment purposes. Mr. Vaudry and/or
North American Logistics Inc. may, depending on market and other conditions,
increase or decrease their ownership of the Company's securities, whether in the
open market, by privately negotiated agreements or otherwise, subject to a
number of factors, including general market conditions and other available
investment and business opportunities. In addition, Mr. Vaudry is a director and
officer of the Company, and may from time to time receive Common Shares in
settlement of accrued compensation owing to him, consistent with past practice
of the Company; however there is no agreement between Mr. Vaudry and the Company
in respect thereof at this time. 


An Early Warning Report in respect of the acquisition has been filed on SEDAR
and can be viewed at www.sedar.com. 


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


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pacific Safety Products Inc.
Terry Vaudry
Chief Executive Officer
(613) 623-6001
www.pacsafety.com

1 Year Pacific Safety Products Inc. Chart

1 Year Pacific Safety Products Inc. Chart

1 Month Pacific Safety Products Inc. Chart

1 Month Pacific Safety Products Inc. Chart