Toronto, Ontario--(Newsfile Corp. - September 25, 2024) - 2673954 Ontario Inc., a company beneficially owned and controlled by Chris Irwin, announces the filing of an early warning report (the "Report") declaring that, on September 25, 2024, Mr. Irwin indirectly disposed of an aggregate of 6,325,450 common shares ("Common Shares") in the capital of Syntheia Corp. (formerly, Veta Resources Inc.) (the "Company"). The disposition of the Common Shares was carried out pursuant to various private transactions.
Prior to the disposition of the Common Shares, Mr. Irwin beneficially owned and controlled an aggregate of 10,118,416 Common Shares, 750,000 stock options to purchase Common Shares and 478 Common Share purchase warrants to purchase Common Shares, representing approximately 12.98% of the issued and outstanding Common Shares on an undiluted basis and 13.72% on a partially diluted basis. Following the disposition of the Common Shares, Mr. Irwin beneficially owns and controls an aggregate of 3,792,966 Common Shares, 750,000 stock options to purchase Common Shares and 478 Common Share purchase warrants to purchase Common Shares, representing approximately 4.87% of the issued and outstanding Common Shares on an undiluted basis and approximately 5.77% on a partially diluted basis.
No cash consideration was received in connection with the disposition. The disposition was carried out for the purpose of compensating various persons for their time, expertise, personal exposure, dedication and effort, in the development of the Company, including serving as a director or officer of the Company, attending to regulatory filings and other administrative tasks during the period when the Company was a shell with limited resources. Mr. Irwin may, depending on market and other conditions, or as future circumstances may dictate, increase or decrease some or all of the existing or additional securities he holds or will hold, or may continue to hold his current position.
This press release is being issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bids and Insider Reporting Issues in connection with the filing of the Report by Mr. Irwin.
For further details relating to the disposition, please see the Report, a copy of which is available on the Company's profile on SEDAR+ at www.sedarplus.ca.
For more information, please contact:
Chris Irwin, President
2673954 Ontario Inc.
Tel: (416) 361-2516
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224639
SOURCE: 2673954 Ontario Inc.
