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Eros Resources Corp. Acquires Additional Interest in Mas Gold Corp.

31.12.2020  |  The Newswire
Vancouver, Decr 31, 2020 - Eros Resources Corp. (“Eros”) (TSXV:ERC), Suite 420 - 789 West Pender Street, Vancouver, British Columbia, announces that in connection with the closing of a non-brokered private placement by MAS Gold Corp. (“MAS Gold”) (TSXV:MAS), Suite 420 - 789 West Pender Street Vancouver, British Columbia, Eros acquired on December 30, 2020 ownership of 7,100,000 flow-through units of MAS Gold (“FT Units”), each FT Unit comprised of one common share (“Common Share”) of MAS Gold, and one half of one common share purchase warrant (“Warrant”). The Common Shares acquired by Eros represent approximately 7.14% of MAS Gold’s issued and outstanding Common Shares. The Warrants acquired by Eros represent approximately 9.10% of the Warrants issued and outstanding.

Prior to the closing of the non-brokered private placement, Eros owned 4,690,476 Common Shares, representing 9.11% of MAS Gold’s issued and outstanding Common Shares. Upon completion of the private placement, Eros owns 11,790,476 Common Shares, representing 11.85% of MAS Gold’s issued and outstanding Common Shares. Prior to the closing of the non-brokered private placement, Eros did not own any Warrants. Upon completion of the private placement, Eros owns 3,550,000 Warrants, representing 9.10% of the issued and outstanding Warrants.

Eros acquired the FT Units at a price of $0.07 per FT Unit, for an aggregate price of $497,000.00. Eros acquired the FT Units for investment purposes. Eros may in the future take such actions in respect of its holdings as it may deem appropriate in light of the circumstances then existing, including acquiring ownership or control over additional Common Shares or other securities of MAS Gold or the disposition of all or a portion of its holdings in open market or in privately negotiated transactions.

A copy of the early warning report in respect of this transaction has been filed with the applicable securities commissions and can be found at www.sedar.com.

About EROS

Eros Resources Corp. is a Canadian public company listed on the Toronto Venture Exchange. The Company’s business objective is the identification, acquisition and exploration of advanced-stage projects with a North American focus. In addition, the Company plans to make strategic investments with a global focus on a diverse commodity base. EROS managements’ expertise supports this strategy.

 ------------------------------------------------------------------------ |Eros Resources Corp.                     |Investor Inquiries:        | |----------------------------------------------------------------------| |Suite 420 - 789 West Pender Street       |Lubica Keighery            | |Vancouver, British Columbia,             |VP Corporate Development   | |T: 604-688-8115                         |lubica@erosresourcescorp.com| |w:www.erosresourcescorp.com              |c: 778-889-5476            | |                                         |                           | ------------------------------------------------------------------------

Neither 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

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