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Erin Ventures Inc.

Exchange: TSXV Exchange | Feb 24, 2018, 4:58 AM EST

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Erin Ventures to Issue Common Shares in Satisfaction of Debt




Erin Ventures to Issue Common Shares in Satisfaction of Debt



Victoria, British Columbia (FSCwire) - Erin Ventures Inc. ("Erin" or the “Corporation”) [TSXV: EV] is pleased to announce that the Corporation has completed the shares for debt settlement of certain debtholders previously announced on January 19, 2018.  The Corporation issued an aggregate of 5,316,769 common shares of Erin to settle an aggregate of $531,676.96 of debt (the “Shares for Debt Settlement”).

 

The common shares issued pursuant to the Shares for Debt Settlement are subject to a statutory four month and one day hold period.

 

Insiders of the Corporation were issued an aggregate of 4,864,449 common shares pursuant to the Shares for Debt Settlement, which constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”). The Shares for Debt Settlement is exempt from the formal valuation approval requirements of MI 61-101 and exempt from the minority shareholder approval requirements of MI 61-101 as at the time of the Shares for Debt Settlement was agreed to, neither the fair market value of the Shares for Debt Settlement, nor the fair market value of the consideration for the Shares for Debt Settlement, insofar as it involves interested parties, exceeded 25% of the Corporation’s market capitalization.

 

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 and gold assets in North America. Headquartered in Victoria, B.C., Canada, Erin's shares are traded on the TSX Venture Exchange under the symbol "EV". For detailed information please see Erin's website at www.erinventures.com or the Company's filed documents at www.sedar.com.

 

Erin's 100% owned Piskanja project is a high-grade boron deposit with a NI 43-101 compliant mineral resource of 5.6 million indicated tonnes (30.8% B2O3), in addition to 6.2 million inferred tonnes (28.8% B2O3).

 

For further information, please contact:

Erin’s Public Quotations:

Erin Ventures Inc.

Canada

Blake Fallis, General Manager

TSX Venture: EV

Phone: 1-250- 384-1999 or 1-888-289-3746

USA

www.erinventures.com

SEC 12G3-2(B) #82-4432

645 Fort Street, Suite 203

OTCBB: ERVFF

Victoria BC V8W1G2

Europe

Canada

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 press release may contain or refer to forward-looking information under Canadian securities legislation, including statements regarding the timing of future mineral resource estimates and the PEA, estimation of mineral resources, exploration results, potential mineralization, exploration and mine development plans, timing of the commencement of operations and future production and is based on current expectations that involve a number of business risks and uncertainties. The words "believe," "expect," “feel,” "plan," "anticipate," “project,” “could,” “should” and other similar expressions generally identify forward-looking statements.  Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, as well as those factors discussed in the section entitled "Risks of the Business" in the Company's most recent regulatory filings which are posted on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities law. These and other factors made in public disclosures and filings by the Company should be considered carefully.



To view the associated document to this release, please click on the following link:
public://news_release_pdf/ErinVentures02072018.pdf



Source: Erin Ventures Inc. (TSX Venture:EV)

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