Completes Private Placement - Erin Ventures Inc.
Victoria - Erin Ventures Inc. (“Erin” or the “Company”) [TSX-Venture: EV] announces today that it has completed its private placement announced on December 2, 2014 and updated January 16, 2014 for total gross proceeds of $544,500.00. The Company raised CAD$147,500.00 by closing the second tranche of its non-brokered private placement. Pursuant to the terms of the private placement, Erin issued 2,950,000 units at a price of $0.05 per unit (the “Units”). Each Unit consists of one common share of the Company and one common share purchase warrant (the “Warrant”). Each Warrant entitles the holder to purchase one common share of the Company exercisable at $0.15 for the first two years and with an exercise price of $0.30 in the third year.
All securities issued in connection with this second tranche offering are subject to a four-month-and-one-day hold period expiring on May 31, 2015, pursuant to applicable securities legislation and the rules of the TSX Venture Exchange.
This offering was 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.
The net proceeds from this placement will be used to fund the company's exploration activities on its Piskanja, Serbia property and for working capital purposes.
About Erin Ventures Inc.
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.
On behalf of the Board of Directors,
Blake Fallis, General Manager
For further information, please contact:
Blake Fallis, General Manager
Phone: 1 -250- 384-1999 or 1-888-289-3746
_www.erinventures.com
645 Fort Street, Suite 203
Victoria BC V8W 1G2
Canada
Erin's Public Quotations
Canada
TSX Venture: EV
USA
SEC 12G3-2(B) #82-4432
OTCBB: ERVFF
Europe Berlin: 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.
Source: Erin Ventures Inc. (TSX Venture:EV) http://www.erinventures.com
