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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
VERIDA INTERNET CORP.
(Name of Issuer)
Common Stock, $.00001 par value
(Title of Class of Securities)
923427108
(CUSIP Number)
June 10, 1999
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
[ ] Rule 13d-1(b)
[ X ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* The remainder of this cover page shall be filled out
for a reporting person's initial filing on this form
with respect to the subject class of securities, and for
any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section
18 of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act but
shall be subject to all other provisions of the Act (however,
see the Notes).
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CUSIP No. 923427108 13G
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1. Names of Reporting Persons I.R.S. Identification Nos. of
Above Persons (entities only)
PETER LORETTO
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2. Check the Appropriate Box if a Member of a Group. (See
Instructions.)
(a) [ ]
(b) [ ]
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3. SEC Use Only
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4. Citizenship Canada
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Number of Shares 5. Sole Voting Power 561,500
Beneficially ----------------------------------------
Owned by Each 6. Shared Voting Power 0
Reporting -----------------------------------------
Person With 7. Sole Dispositive Power 561,500
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8. Shared Dispositive Power 0
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9. Aggregate Amount Beneficially Owned by Each Reporting
Person
561,500
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10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares (See Instructions) [ ]
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11. Percent of Class Represented by Amount in Row 9
6.28%
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12. Type of Reporting Person (See Instructions)
IN
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CUSIP No. 923427108 13G
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1. Names of Reporting Persons I.R.S. Identification Nos. of
Above Persons (entities only)
PCL HOLDINGS LTD. I.R.S. I.D. (N/A)
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2. Check the Appropriate Box if a Member of a Group. See
Instructions.
(a) [ ]
(b) [ ]
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3. SEC Use Only
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4. Citizenship or Place of Incorporation
British Columbia
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Number of Shares 5. Sole Voting Power 550,000
Beneficially -----------------------------------------
Owned by Each 6. Shared Voting Power 0
Reporting -----------------------------------------
Person With 7. Sole Dispositive Power 550,000
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8. Shared Dispositive Power 0
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9. Aggregate Amount Beneficially Owned by Each Reporting
Person
550,000
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10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares (See Instructions) [ ]
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11. Percent of Class Represented by Amount in Row 9
6.15%
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12. Type of Reporting Person (See Instructions)
CO
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CUSIP No. 923427108 13G
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Item 1.
(a) The name of the issuer is VERIDA INTERNET CORP.. (the
"Issuer").
(b) The principal executive office of the Issuer is
located at 50 California Street, Suite 1500, San
Francisco, California 94111
Item 2.
(a) This statement is being filed by: (a) Peter Loretto,
an individual residing in British Columbia and (b) PCL
Holdings Ltd. a privately held company which is
incorporated in British Columbia and is wholly owned by
Mr. Peter Loretto (the individual and entity referred to
above are collectively called the "Reporting Persons".
(b) The residential address of the Reporting Persons is
350-6165 HWY. 17, Delta, B.C. V4K 5B8
(c) Citizenship of Reporting Persons: see item 4 above
(d) This class of securities to which this statement relates
is Common Stock of the Issuer with a par value of
$.00001.
(e) The CUSIP number of the Common Stock is 923427108
Item 3.
If this statement is filed pursuant to rule 240.13d-1(b), or
240.13d-2(b) or (c), check whether the person filing is a:
(a) ___ Broker or dealer registered under section 15 of the
Act (15 U.S.C.78o).
(b) ___ Bank as defined in section 3(a)(6) of the Act (15
U.S.C. 78c).
(c) ___ Insurance company as defined in section 3(a)(19)
of the Act (15U.S.C. 78c).
(d) ___ Investment company registered under section 8 of
the Investment Company Act of 1940 (15 U.S.C. 80a- 8).
(e) ___ An investment adviser in accordance with 240.13d-
1(b)(1)(ii)(E).
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CUSIP No. 923427108 13G
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(f) ___ An employee benefit plan or endowment fund in
accordance with 240.13d-1(b)(1)(ii)(F).
(g) ___ A parent holding company or control person in
accordance with 240.13d-1(b)(1)(ii)(G)
(h) ___ A savings association as defined in section 3(b) of
the Federal Deposit Insurance Act (12 U.S.C. 1813).
(i) ___ A church plan that is excluded from the definition of
an investment company under section 3(c)(14) of the
Investment Company Act of 1940 (15 U.S.C. 80a-3).
(j) ___ Group, in accordance with section 240.13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to 240.13d-1(c), check
this box. [ X ].
Item 4. Ownership.
Provide the following information regarding the aggregate
number and percentage of the class of securities of the issuer
identified in Item 1.
The Reporting Persons own beneficially the respective
percentages and numbers of Common Shares set forth below (on
the basis of 8,947,000 shares of Common Stock issued and
outstanding).
(a) Amount beneficially owned: Mr. Peter Loretto beneficially
owns 561,500 shares of which number 550,000 shares are
held by his wholly owned company, PCL Holdings Ltd.,
while the remaining 11,500 are directly owned by Mr.
Peter Loretto himself.
(b) Percent of class: 6.28%
(c) Number of shares as to which the Reporting Persons has:
(i) Sole power to vote or to direct the vote: 561,500
(ii) Shared power to vote or to direct the vote: 0
(iii) Sole power to dispose or to direct the disposition
of: 561,500
(iv) Shared power to dispose or to direct the
disposition of: 0
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CUSIP No. 923427108 13G
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Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as
of the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following [ ].
Item 6. Ownership of More than Five Percent on Behalf of
Another Person
Not applicable.
Item 7. Identification and Classification of the
Subsidiary which Acquired the Security Being
Reported on by the Parent holding Company
Not applicable.
Item 8. Identification and Classification of Members of the
group
Not applicable.
Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification.
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were not acquired
and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the
securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
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CUSIP No. 923427108 13G
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Dated: June 8, 1999
PETER LORETTO
/s/ Peter Loretto
PCL HOLDINGS LTD.
BY: /s/ Peter Loretto
PETER LORETTO, PRESIDENT
