VICTORIA, BC / ACCESSWIRE / September 13, 2022 / Erin Ventures Inc. ("Erin" or the "Company") [TSXV:EV] is pleased to announce the closing of its previously announced (August 26, 2022) warrant exercise incentive program (the "Program") intended to encourage the exercise of up to 9,618,322 unlisted common share purchase warrants of the Company (the "Eligible Warrants") exercisable for one common share of the Company (each a "Common Share") at a price of $0.05 per Common Share.
Eligible Warrants that remain unexercised following the completion of this early exercise program continue to be exercisable for Common Shares on the original terms as they existed prior to the Program.
Pursuant to the Program, the holders exercised 7,499,570 Eligible Warrants for proceeds of $374,978.50 which will be used for general working capital. Participating holders were issued 7,499,570 additional common share purchase warrant (an "Incentive Warrant"). Each Incentive Warrant entitles the holder to purchase one additional Common Share until 5:00 p.m. (Vancouver time) on September 9, 2023 at a price of $0.05 per Common Share.
The Incentive Warrants and any Common Shares issuable on the exercise thereof will be subject to a four-month hold period from the date of issuance of the Incentive Warrants pursuant to applicable Canadian securities laws.
The Program is subject to approval from the TSX Venture Exchange (the "Exchange") and is subject to the receipt of all final regulatory approvals, including final approval of the Exchange. The number of Eligible Warrants exercised by insiders of the Company was 2.92 % of the total Eligible Warrants.
On behalf of the Board of Directors,
Tim Daniels, President
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". 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
645 Fort Street, Suite 203
Victoria BC V8W1G2
Erin's Public Quotations:
TSX Venture: EV
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.
SOURCE: Erin Ventures Inc.