Erin Ventures Announces Intention to Amend Convertible Debentures
ERIN VENTURES INC.
NEWS RELEASE
Erin Ventures Announces Intention to Amend Convertible Debentures
May 8, 2018
Erin Ventures Inc. (" Erin") [TSXV: EV] announces that it intends to seek approval from the TSX Venture
Exchange (“TSXV”) and each of the outstanding holders (collectively, the “Holders”) of the 12% interest bearing
unsecured convertible 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, 2015, July 14, 2015,
November 3, 2015 and November 2, 2016 by way of private placement s (collectively, the “ Debentures”) to
amend the terms of the Debentures as follows:
(i) to extend the maturity date of the Debentures to be the lesser of: (a) two (2) years, maturing on June 1,
2020, or (b) such date prior to June 1, 2020 being the maximum period of time allowable to extend the
term of the Debentures pursuant to the policies and rules of the TSXV (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 consolidation completed by Erin effective on August 30, 2017
(the “Consolidation”) to be $0.15 per Unit during the first year of the Extended Exercise Term and $0.30
per Unit during the second year of the Extended Exercise Term;
(iii) to amend the exercise period for the underlying warrants 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 provided in
the Debentures) and (b) such period of time less than one (1) year being the maximum period of time
allowable to extend the exercise period o f the warrants pursuant to the policies and rules of the TSXV;
and
(iv) to amend the price applicable to the payment of accrued 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 average trading price of the common shares of Erin for
the ten (10) trading days precedi ng each interest payment (such payments are made on June 1, and
December 1).
Currently, an aggregate of $597,000 of Debentures remain outstanding, which are set to mature on June 1, 2018.
Holders who agree to the amendment will receive their June 1, 2018 interest payment pursuant to the terms of
their current debenture, subsequent interest payments will be subject to the terms of the amended Debenture. The
Debentures whose Holders do not agree to the amendment will mature on June 1, 2018.
The proposed amendments are subject to the approval of the TSXV.
On behalf of the Board of Directors,
Blake Fallis, General Manager
About Erin Ventures
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.
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 legislation, including statements
regarding the timing of future mineral resource estimates and the PEA, estimation of mineral resources, exploration results, potential
mineralization, exploration and mine development plans, timing of the commencement of operations and future production and is based on
current expectations that involve a number of business risks and uncertainties. The words "believe," "expect," “feel,” "plan, " "anticipate,"
“project,” “could,” “should” and other similar expressions generally identify forward -looking statements. Forward -looking statements are
subject to significant risks and uncertainties, and other factors that could cause actual results to differ mat erially 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 limited to, failure to convert estima ted mineral resources to reserves, capital and operating
costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or fail ures to obtain
required governmental, environmental or other project appro vals, political risks, uncertainties relating to the availability and costs of
financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity pr ices, delays in
the development of projects and the other risks involved in the mineral exploration and development industry, as well as those factors
discussed in the section entitled "Risks of the Business" in the Company's most recent regulatory filings which are posted on SEDAR at
www.sedar.com. These f orward-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 circumstances other than as required by applicable securities law. These and other factors
made in public disclosures and filings by the Company should be considered carefully.