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Ex-GOLDCORP BOSS ROBERT MCEWEN holds over 12% of stock ROBERT MCEWEN FILES EARLY WARNING REPORT IN CONNECTION WITH PRIVATE PLACEMENT IN VANTEX RESOURCES INC. Robert McEwen has subscribed, by way of a private placement, for 560 flow-through units of Vantex Resources Inc. at a price of $1,250 per flow-through unit for an aggregate amount of $700,000. Each flow-through unit consists of 4,000 flow-through common shares and 1,000 common shares at a price of 25 cents per share. The shares purchased pursuant to the transaction represent approximately 7.4 per cent of the current number of outstanding shares of Vantex. The shares were issued from Vantex's 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 5.8 million shares and 1.5 million warrants convertible into shares, for a total of 7.3 million shares of Vantex, representing approximately 12.78 per cent of Vantex's issued and outstanding shares. A copy of the early warning report filed in connection with the transaction will be made available on SEDAR. A non-compliant resource of 1.5 million ounces and a huge property that has many showings with historical drill holes of long low grade mineralization New High Grade Discovery In VPE10-11, the hole intersected two gold zones with one of the zones showing visible gold. The initial assay results returned grades of 8.21 g/t Au over 22.50 metres Hole 19 has results coming out soon and has hit visual gold in many areas of core as per NR (Drill hole VPE10-19 showed visible gold in many areas.)NR 37 MIL OS with latest PP brings it too 52 MIL in Mar 2011 | ||||||||||||||
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