Attention Business Editors:
Sheldon Inwentash acquires common shares and warrants of Signet Minerals Inc.
TORONTO, Oct. 13 /CNW/ - Sheldon Inwentash ("Inwentash") of 130 King
Street West, Suite 2810, P.O. Box 47, Toronto, Ontario, M5X 1A9 announces that
on October 12, 2005, he acquired ownership of 300,000 common shares and
150,000 share purchase warrants (each, a "Warrant") of Signet Minerals Inc.
("Signet"). Each Warrant entitles the holder thereof to acquire one additional
common share of Signet at a price of $0.20 per share. In the event the
Warrants are fully exercised, these holdings represent approximately 1.87% of
the issued and outstanding common shares of Signet calculated on a partially
diluted basis assuming the exercise of the Warrants only. As a result of the
purchase, Inwentash, together with his joint actors, beneficially own an
aggregate of 2,504,346 common shares of Signet and rights to acquire an
aggregate of 1,985,163 additional common shares of Signet upon exercise of
convertible securities (including the Warrants, collectively the "Convertible
Securities"). In the event that the Convertible Securities are fully
exercised, the securities would represent approximately 17.36% of all issued
and outstanding common shares of Signet as at October 12, 2005, calculated on
a partially diluted basis assuming the exercise of such Convertible Securities
only.
The foregoing transaction was effected as a private placement and did not
take place on any public exchange or market. Inwentash acquired the 300,000
common shares and the 150,000 Warrants for investment purposes and may
increase or decrease his ownership position in Signet at any time.
A copy of the report filed with applicable securities authorities in
connection with the foregoing matters may be obtained by contacting Richard
Patricio at 416-941-9600.
Market Data 
Markets 
AI
