Erin Ventures Extends Strategic Partner’s Financing Option Exercise Period
ERIN VENTURES INC. (“Erin”)
NEWS RELEASE
Erin Ventures Extends Strategic Partner’s
Financing Option Exercise Period
December 21, 2018
Erin Ventures Inc. [TSXV: EV] announces that, further to its ne ws releases of June 18 and September 18, 2018,
Erin has agreed with InvestCo to extend the option exercise per iod of its Tranche 1 Financing Option (USD
$5.135 million) until March 31, 2019, with all other terms in t he strategic alliance agreement remaining
unchanged. Recently, InvestCo has introduced a significant potential co-investor to Erin’s Piskanja Boron Project.
Both Erin and InvestCo’s potential co-investor may require up t o a 3-month period in which to complete due
diligence on each other, prompting the need for the extension to the Tranche 1 Option period.
The extension of the Option until March 31, 2019 in no way puts Erin’s work commitment on Piskanja at risk, the
next phase of which is required to be completed by September 20 , 2020 in order to keep the Piskanja license in
good standing. Additionally, it is Erin’s intention to complete the aforementioned due diligence procedure, while
simultaneously advancing the re quisite shareholder and TSX appr oval processes, so as to continue with the
project development as soon as possible.
Additionally, Erin expects to have permission to publicly release the pertinent details on InvestCo and its potential
co-investor in the near future.
Background
Erin announced in its news release dated June 18, 2018 that it had entered into a strategic partnership option
agreement (the “Agreement”) w ith a London based commodity inves tment specialist (the “InvestCo”) for the
continuing development of Erin’s Piskanja Borate Project. Under the terms of the Agreement, InvestCo has the
right to make equity investments in two tranches, totaling USD $20.135 million, subject to TSX Venture
Exchange and shareholder approval, with the proceeds to be used for the advancement of Piskanja towards
production. Further, on September 18, 2018, Erin announced that InvestCo’s Tranche 1 90-day financing option
of USD $5.135 million had been triggered as a result of Erin me eting a pre-condition of receiving an extension to
its Piskanja exploration license until September of 2020.
*NOTE: Please refer to Erin’s news releases dated June 18, 2018 and September 18, 2018 for additional salient
terms regarding the potential strategic alliance between Erin and InvestCo.
The Agreement remains subject to both TSX Venture Exchange and shareholder approvals.
On behalf of the Board of Directors,
Blake Fallis, General Manager
About InvestCo
InvestCo was established in 2009 by the senior management team from one of the world's largest energy
commodity trading companies. Its mandate since inception has be en to invest in upstream mining projects,
leveraging the founders' extensive commodity networks and decades of experience.
InvestCo takes a differentiated approach to engaging with proje ct teams. In addition to providing capital to early
stage mining projects, the InvestCo team seeks to work with man agement by providing marketing, hedging and
structuring expertise gained over 20 years of commodity trading know-how across multiple markets.
InvestCo has a strong track record of leverage it’s debt and eq uity network, in order to bring mining projects into
production. Its team has worked with a number of alternative fu nding partners including sovereign wealth funds,
family offices and hedge funds, accessing new sources of capital as an alternative to traditional capital markets.
About Erin Ventures
Erin Ventures Inc. is an international mineral exploration and development company with boron assets in Serbia.
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.
About Boron
Boron is used in +500 products that shape modern life, with new applications developed regularly
Price 2015: US$850 boric acid; US$550 colemanite (Source: IM Industrial Minerals)
Boron market is valued at US$4.9B per year (2016)
Demand is forecast to outpace supply for the next several years
Supply is tightening despite competitive expansions
Commercial deposits of boron are extremely rare with 2 regions containing 80% of the world supply
World boron consumption by end-use in 2014: glass 51%; agricult ure 14%; ceramics 13%; detergents
3%; other 19%
A lack of competition in supply helps keep prices very stable
Borates are a high margin industry
There are very few substitutes for borates especially in high-e nd applications and agriculture. These
markets are expected to grow as global population grows and becomes more affluent
Room exists in the market for additional high-quality producers
For further information, please contact: Erin’s Publ ic Quotations
Erin Ventures Inc. Canada USA
Blake Fallis, General Manager TSX Venture: EV SEC12G3-2(B)#82-4432
Phone: 1-250- 384-1999 or 1-888-289-3746 OTCBB:ERVFF
[email protected] Europe
www.erinventures.com Berlin: EKV
Neither the TSX Venture Exchange nor its Regulation Services Pr ovider (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:
Certain statements in this news release may constitute forward- looking statements within the meaning of
applicable securities laws. Forw ard-looking statements include, but are not limited to, statements concerning (i)
the Agreement, (ii) Option 1; (iii) Option 2; (iii) anticipated approvals; (iv) the time to the exercise of Option 1
and Option 2; and (v) results of the completion of the transact ions contemplated in this news release. Forward-
looking statements generally can be identified by the use of fo rward-looking terminology such as "outlook",
"objective", "may", "will", "expect", "intend", "estimate", "an ticipate", "believe", "should", "plans" or "continue",
or similar expressions suggesting future outcomes or events. Su ch forward-looking statements reflect
management's current beliefs and are based on information curre ntly available to management. Forward-looking
statements involve risks and uncertainties that could cause act ual results to differ materially from those
contemplated by such statements. Such forward-looking statement s are subject to risks and uncertainties that may
cause actual results, performance or developments to differ mat erially from those contained in the statements
including, without limitation, the risks that: (1) the informat ion provided to Erin by InvestCo turns out to be
misleading, untrue or incomplete; (2) neither Option 1 nor Option 2 may be completed for any reason whatsoever,
including that regulators may not approve the proposed Options; (3) the closings may not occur as scheduled or at
all; and (4) Erin may not achieve the results currently anticip ated. Although Erin believes that the expectations
reflected in its forward-looking information are reasonable, un due reliance should not be placed on forward-
looking information because Erin can give no assurance that suc h expectations will prove to be correct. In
addition to other factors and assu mptions which may be identifi ed in this news release, assumptions have been
made regarding and are implicit in, among other things, the tim ely receipt of required regulatory approvals.
Details of the risk factors relating to Erin and its business a re discussed under the heading “Risks and
Uncertainties” in Erin’s most recent regulatory filings which a re posted on SEDAR at www.sedar.com. Readers
are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used.
Forward-looking information is based on current expectations, e stimates and projections that involve a number of
risks and uncertainties which could cause actual results to dif fer materially from those anticipated by Erin and
described in the forward looking information. The forward-looki ng information contained in this news release is
made as of the date hereof and Erin undertakes no obligation to update publicly or revise any forward-looking
information, whether as a result of new information, future eve nts or otherwise, unless required by applicable
securities laws. The forward-looki ng information contained in t his news release is expressly qualified by this
cautionary statement.
Mineral resources are not mineral reserves and do not have demo nstrated economic viability. "Inferred
Resources" have a great amount of uncertainty as to their exist ence, and economic and legal feasibility. Investors
are cautioned not to assume that all or any part of an inferred mineral resource reported in this news release will
ever be upgraded to a higher category or to reserves. U.S. pers ons are advised that while mineral resources are
recognized under Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them.
U.S. persons are also cautioned not to assume that all or any p art of an inferred mineral resource is economically
or legally mineable.