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VCI Vitreous Glass Inc

5.27
0.00 (0.00%)
Last Updated: 15:59:54
Delayed by 15 minutes
Share Name Share Symbol Market Type
Vitreous Glass Inc TSXV:VCI 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% 5.27 5.17 5.35 0 15:59:54

Mr. Pat Cashion Acquires Additional Shares of Vitreous Glass Inc.

04/01/2013 6:06pm

Marketwired Canada


J. Patrick Cashion of Calgary, Alta., president and a director of Vitreous Glass
Inc. (TSX VENTURE:VCI), his spouse and a corporation owned by them have acquired
direct or beneficial ownership of an additional 70,000 common shares in the
capital of Vitreous Glass pursuant to a share purchase agreement dated Jan. 6,
2011, which was the subject of a previous report dated Jan. 7, 2011. Pursuant to
the Agreement, Mr. Cashion, his spouse and Holdco previously acquired 150,000
Common Shares, resulting in an aggregate of 220,000 Common Shares being acquired
directly or beneficially by Mr. Cashion, his spouse and Holdco. Pursuant to the
Agreement Holdco has also acquired voting rights to 225,000 Common Shares
acquired by a third party. 


The Common Shares were purchased in a private transaction from Irv Thomas
Investments Ltd., a corporation owned by H. Irvin Thomas, Chairman and a
director of Vitreous, at a price of $1.75 per Common Share. Irv Thomas
Investments Ltd. had previously granted Mr. Cashion an option to purchase all of
its Common Shares upon the death of Mr. Thomas (the "Option"). The number of
Common Shares held by Irv Thomas Investments Ltd. which are available to Mr.
Cashion pursuant to the Option is 650,000. 


Mr. Cashion, his spouse and Holdco currently hold a total of 1,882,200 Common
Shares representing 30.6% of the currently issued and outstanding Common Shares
of Vitreous. 


If Mr. Cashion were to exercise the option from Irv Thomas Investments Ltd., he,
together with his spouse and Holdco, would hold a total of 2,532,200 shares in
Vitreous, representing 41.1% of the outstanding Common Shares and would have
voting rights for a further 225,000 Common Shares, representing an additional
3.7%. 


Mr. Cashion acquired the securities for investment purposes and may, in the
future, acquire ownership of, or control or direction over, additional
securities of Vitreous, but has no present intention to do so. 


A copy of the early warning report in respect of these acquisitions to be filed
with the applicable securities commissions can be found at www.sedar.com.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Vitreous Glass Inc.
Pat Cashion
President
403-616-2773

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