Erin Ventures to Issue Common Shares in Satisfaction of Interest Payment to Convertible Debenture Holders
Friday, May 31, 2019 6:32 PM
VICTORIA, BC / ACCESSWIRE / May 31, 2019 / Erin Ventures Inc. ('Erin') [TSXV: EV] announces that pursuant to the 12% interest bearing convertible debentures issued on April 10, 2015, July 14, 2015, November 3, 2015 and November 2, 2016 by way of private placement, for an aggregate principal amount of $1,967,700 (collectively, the 'Debentures') and pursuant to the amendment to the outstanding Debentures announced on May 28, 2018. Erin will issue a total of 171,521 common shares, priced according to the terms of the Debentures, at $0.10 per common share in satisfaction of the aggregate interest payments owed by Erin of $17,151.14 to the outstanding Debenture holders.
The common shares issued will be subject to a four month hold period. The proposed shares for debt settlement is subject to the approval of the TSX Venture Exchange.
On behalf of the Board of Directors,
Blake Fallis, General Manager
About Erin Ventures Inc.
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.
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 Ventures Inc.
Blake Fallis, General Manager
Phone: 1-250- 384-1999 or 1-888-289-3746
645 Fort Street, Suite 203
Erin's Public Quotations:
TSX Venture: EV
Berlin: EKV Canada
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.
SOURCE: Erin Ventures Inc.