Erin Ventures Announces Proposed Private Placement
Erin Ventures Inc. plans a non-brokered private placement offering of up to 9,000,000 units at $0.05 per unit, aiming for gross proceeds of $450,000.
Each unit consists of one common share and one two-year warrant, also priced at $0.05. There is an acceleration clause if shares trade at $0.10 for ten consecutive days.
The proceeds will finance the Piskanja boron project in Serbia and support working capital. This offering requires approval from the TSX Venture Exchange.
- Proposed private placement of up to $450,000 will fund further development of the Piskanja boron project in Serbia.
- Each warrant includes a two-year term, providing potential for increased future investment.
- Private placements may dilute existing shareholder value.
- Dependence on TSX Venture Exchange approval may delay fundraising.
VICTORIA, BC / ACCESSWIRE / January 17, 2023 / Erin Ventures Inc. ("Erin") [TSXV:EV] announces that, subject to the approval of the TSX Venture Exchange (the "TSXV"), it intends to complete a non-brokered private placement offering of up to 9,000,000 units ("Units") at a price of
The Warrants also have an acceleration clause whereby if the Common Shares trade on the TSXV at a price equal or greater than the designated trigger price of
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 from this financing will be used to fund further development of its wholly owned Piskanja boron project in Serbia, and for working capital purposes.
This offering will be carried on a private placement basis pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange.
On behalf of the Board of Directors,
Blake Fallis, General Manager
About Erin Ventures
Erin Ventures Inc. is an international mineral exploration and development company with boron assets in Serbia. Headquartered in Victoria, B.C., Canada, Erin's shares are traded on the TSX Venture Exchange under the symbol "EV" and the OTCQB Venture Market under the symbol "ERVFF". For detailed information please see Erin's website at www.erinventures.com or the Company's filed documents at www.sedar.com.
For further information, please contact:
Erin Ventures Inc.
Blake Fallis, General Manager
Phone: 1-250- 384-1999 or 1-888-289-3746
www.erinventures.com
645 Fort Street, Suite 203
Victoria BC V8W1G2
Canada
Erin's Public Quotations:
Canada
TSX Venture:EV
USA
OTCQB:ERVFF
Europe
Berlin Stock Exchange: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 release contains forward looking statements. The words "believe," "expect," "feel," "plan," "anticipate," "project," "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 failure to discover or recover economic grades of minerals, and the inability to raise the funds necessary, changes in external market factors including commodity prices, and other risks and uncertainties. Actual results could differ materially from the results referred to in the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking information. These and other factors made in public disclosures and filings by the Company should be considered carefully and readers should not place undue reliance on the Company's forward-looking information. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. "Inferred Resources" have a great amount of uncertainty as to their existence, and economic and legal feasibility. Investors are cautioned not to assume that all or any part of an inferred mineral resource reported in this news release will ever be upgraded to a higher category or to reserves. U.S. persons are advised that while mineral resources are recognized under Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. persons are also cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable.
SOURCE: Erin Ventures Inc.
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