1514341 Ontario Inc. Intends to Acquire 1 Million Pasinex Resources Shares

Pasinex Resources Limited (CSE:PSE) reported that 1514341 Ontario Inc. intends to acquire 1,000,000 common shares at $0.11 per share and 500,000 warrants to acquire common shares of the Issuer at a price of $0.18 per share expiring two years from closing. Following the transaction, 1514341 Ontario Inc. will own 12,358,500 common shares representing 15.88% of the outstanding common shares of Pasinex.

As quoted in the press release:

Larry Seeley owns all of the common shares of the Company and members of the family of Larry Seeley own a further 3,948,718 common shares of the Issuer and 100,000 Warrants to purchase common shares at $0.20 expiring on April 22, 2017. An aggregate of 16,307,218 common shares representing 20.95% of the outstanding common shares of the Issuer are owned or controlled, directly or indirectly, by the Company, Larry Seeley and members of his family.

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