Erin Ventures Inc. Closes First Tranche of a Private Placement
NEWS RELEASE - For Immediate Distribution
Erin Ventures Inc. Closes First Tranche of a Private Placement
January 16, 2015
Erin Ventures Inc. (“Erin” or the “Company”) [TSX-Venture: EV] announces today that it has raised CAD$397,000.00 by closing the first tranche of a non-brokered private placement. Pursuant to the terms of the private placement, Erin issued 7,940,000 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. Three arm’s length finders are to be paid finder’s fees for an aggregate total of $12,500.00.
All securities issued in connection with this offering are subject to a four-month-and-one-day hold period expiring on May 17, 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.
Management of the Company expects the second tranche to close on or before January 30, 2015.
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: Erin's Public Quotations USA Erin Ventures Inc. Canada Blake Fa l l is, General Manager TSX Venture: EV SEC 12G3-2(B) #82-4432 Phone: 1 -250- 384-1999 or 1-888-289-3746 Europe OTCBB: ERVFF _www.erinventures.com Berlin: EKV 645 Fort Street, Suite 203 Victoria BC V8W 1G2 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.
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