Erin Ventures completes private placement
NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES
VICTORIA, BC / ACCESSWIRE / September 24, 2021 / Erin Ventures Inc. (“Erine“) (TSXV: EV) is pleased to announce that it has completed its broker-less private placement initially announced on September 17, 2021 for gross proceeds of $ 544,744.75 (the”Offer“).
Pursuant to the private placement, Erin issued 7,263,263 units (“Units“) at a price of $ 0.075 per unit. Each unit consists of one (1) common share (“Ordinary share“) and one (1) common share purchase warrant (“To guarantee“). The warrants are exercisable for two (2) years at a price of $ 0.10.
The warrants also include an accelerator clause whereby if the common shares trade on the TSX Venture Exchange (“TSXV“) at a price equal to or greater than the Designated Trigger Price of $ 0.15 for more than ten (10) consecutive Trading Days, Erin shall have the right to give written notice to the Holder directing him to exercise the Warrant , in whole or in part, within thirty (30) days from the date of receipt of Erin’s notice.
The common shares and warrants comprising the Units will be subject to a four month and one day hold period in accordance with the policies of the TSXV and applicable securities legislation.
The net proceeds of this financing will be used to finance the further development of its Piskanja boron project in Serbia, and for general working capital purposes.
This offer will be made on the basis of a private placement in accordance with prospectus exemptions from applicable securities laws and is subject to final acceptance by the TSXV. Two arm’s length researchers are to receive research fees totaling $ 27,600.00 in accordance with the rules of the TSX Venture Exchange Corporate Funding Handbook.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any state securities law and cannot be offered or sold in the United States or to or on behalf of or for the benefit of US Persons (as defined in the 1933 Act) unless they are registered under the 1933 Act and the Laws of Persons applicable state securities, or an exemption from such registration is available.
On behalf of the Board of Directors,
Blake Fallis, Managing Director
About Erin Ventures
Erin Ventures Inc. is an international mining exploration and development company with boron assets in Serbia and gold assets in North America. Based in Victoria, British Columbia, Canada, Erin’s shares trade on the TSX Venture Exchange under the symbol “EV” and on the OTC PINK under the symbol “ERVFF”. For detailed information, please see Erin’s website at www.erinventures.com or company filings at www.sedar.com.
Piskanja is a high grade boron deposit with an NI 43-101 compliant mineral resource of 5.6 million tonnes indicated (30.8% B2O3), in addition to the 6.2 million tonnes inferred (28.8% B2O3).
For more information, please contact: Public quotes from Erin:
Erin Ventures Inc. Canada
Blake Fallis, Managing Director TSX Venture: EV
Phone: 1-250-384-1999 or 1-888-289-3746 United States
645 Fort Street, Suite 203 (OTC: ERVFF)
Victoria BC V8W1G2 Europe
Berlin Stock Exchange Canada: EKV
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements: This press release contains forward-looking statements. The words “believe”, “expect”, “feel”, “plan”, “anticipate”, “plan”, “could”, “should” and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties, including, without limitation, variations in estimated costs, the inability to discover or recover the economic grades of minerals and the inability to lift funds required, changes in external market factors, including commodity prices and other risks and uncertainties. Actual results could differ materially from results mentioned in forward-looking statements. This list is not exhaustive of the factors that may affect the Company’s forward-looking information. These and other factors in the Company’s disclosures and public filings should be carefully considered and readers should not place undue reliance on the Company’s forward-looking information. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company, except in accordance with applicable securities laws.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. “Inferred resources” present great uncertainty as to their existence and their economic and legal feasibility. Investors are cautioned not to assume that all or any part of an Inferred Mineral Resource reported in this press release will ever be upgraded to a higher category or to reserves. United States persons are advised that although mineral resources are recognized under Canadian regulations, the United States Securities and Exchange Commission does not recognize them. People in the United States are also cautioned not to assume that all or part of an inferred mineral resource is economically or legally exploitable.
THE SOURCE: Erin Ventures Inc.
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