Erin Ventures Announces Amendment of All Outstanding Convertible Debentures
ERIN VENTURES INC.
NEWS RELEASE
Erin Ventures Announces Amendment of All Outstanding Convertible Debentures
May 29, 2018
Erin Ventures Inc. (" Erin ") [TSXV: EV] announces that in connection with the previous announcement on May
8, 2018, Erin has received the approval from the TS X Venture Exchange (“ TSXV ”) and all of the outstanding
holders (collectively, the “ Holders ”) of the 12% interest bearing unsecured convertibl e debentures, convertible
into units of Erin (each, a “ Unit ”), each Unit is comprised of one (1) common share and one (1) common share
purchase warrant, which were issued on April 10, 20 15, July 14, 2015, November 3, 2015 and November 2, 2016
by way of private placements (collectively, the “ Debentures ”) to amend the terms of the Debentures.
The amendments to the Debentures are as follows:
(i) an extension of the maturity date of the Debentures , to be: (a) June 1, 2020, and (b) for the outstand ing
Debentures that were issued on April 10, 2015, the maximum allowable extension of such Debentures’
terms was a maturity date of April 9, 2020 (together, the “ Extended Exercise Term ”);
(ii) to amend the conversion price of the Debentures by amending the minimum stipulated conversion price
of $0.70 per Unit (as a result of the 7 to 1 consol idation completed by Erin effective on August 30, 2 017
(the “ Consolidation ”)) to be a conversion price of $0.15 per Unit duri ng the first year of the Extended
Exercise Term and a conversion price of $0.30 per U nit during the second year of the Extended Exercise
Term;
(iii) to amend the exercise period for the underlying war rants that form part of each Unit issuable upon
conversion of a Debenture to be the lesser of (a) a one (1) year exercise period (as currently provide d in
the Debentures) and (b) such period of time less th an one (1) year being the maximum period of time
allowable to extend the exercise period of the warr ants pursuant to the policies and rules of the TSXV ;
and
(iv) to amend the price applicable to the payment of acc rued interest that is satisfied by the issuance of
common shares from the minimum stipulated price of $0.42 (as a result of the Consolidation) to be the
greater of (a) $0.10, and (b) the volume weighted a verage trading price of the common shares of Erin f or
the ten (10) trading days preceding each interest p ayment (such payments are made on June 1, and
December 1).
The aggregate amount of principal of the outstandin g Debentures is $597,000. All of such principal wil l continue
to remain outstanding under the terms of the amended Debentures. Holders’ June 1, 2018 interest payment will be
paid in the ordinary course on June 1 st pursuant to the terms of the current Debentures. S ubsequent interest
payments commencing December 1, 2018, paid semi-ann ually, will be satisfied pursuant to the terms of t he
amended Debentures.
On behalf of the Board of Directors,
Blake Fallis, General Manager
About Erin Ventures
Erin Ventures Inc. is an international mineral expl oration and development company with boron assets i n 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 detaile d 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’s Public Quotations:
Erin Ventures Inc. Canada
Blake Fallis, General Manager TSX Venture: EV
Phone: 1-250- 384-1999 or 1-888-289-3746 USA
www.erinventures.com SEC 12G3-2(B) #82-4432
645 Fort Street, Suite 203 OTCBB: ERVFF
Victoria BC V8W1G2 Europe
Canada 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.
Forward Looking Statements:
This press release may contain or refer to forward- looking information under Canadian securities legis lation, including statements
regarding the timing of future mineral resource est imates and the PEA, estimation of mineral resources , exploration results, potential
mineralization, exploration and mine development pl ans, timing of the commencement of operations and f uture production and is based on
current expectations that involve a number of busin ess risks and uncertainties. The words "believe," " expect," “feel,” "plan," "anticipate,"
“project,” “could,” “should” and other similar expr essions generally identify forward-looking statemen ts. Forward-looking statements are
subject to significant risks and uncertainties, and other factors that could cause actual results to d iffer 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 limi ted to, failure to convert estimated mineral resour ces to reserves, capital and operating
costs varying significantly from estimates, the pre liminary nature of metallurgical test results, dela ys in obtaining or failures to obtain
required governmental, environmental or other proje ct approvals, political risks, uncertainties relati ng to the availability and costs of
financing needed in the future, changes in equity m arkets, inflation, changes in exchange rates, fluct uations in commodity prices, delays in
the development of projects and the other risks inv olved in the mineral exploration and development in dustry, as well as those factors
discussed in the section entitled "Risks of the Bus iness" in the Company's most recent regulatory fili ngs 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 circum stances other than as required by applicable securi ties law. These and other factors
made in public disclosures and filings by the Company should be considered carefully.