Erin Ventures Closes First Tranche of its Private Placement
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ERIN VENTURES INC.
NEWS RELEASE
Erin Ventures Closes First Tranche of its Private Placement
October 2, 2020
Erin Ventures Inc. (" Erin" or the “ Company”) [TSXV: EV] announces today that pursuant to a previously
announced private placement on September 30, 2020 for Units priced at $0.04 per Unit for gross proceeds of up to
$200,000.00 (the “Offering”) the Company has raised $78,000 by closing the first tranche of the Offering.
Pursuant to the terms of the Offering, Erin issued 1,950,000 Units in this first tranche. Each Unit consists of one (1)
common share in the capital of the Company a nd one (1) common share purchase warrant (a " Warrant"). Each
Warrant will have a two (2) year term (the “Exercise Period”) and will be exercisable into one (1) common share
at a price of $0.05.
Based on the TSX Venture Exchange’s (“TSXV”) conditional approval, proceeds of up to $122,000 of this Offering
remains available to existing security holders of Erin (“ Shareholders”) in accordance with the provisions of the
existing shareholder exemption (the “Existing Shareholder Exemption”) pursuant to BC Instrument 45-534 (the
Existing Shareholder Exemption is not available in On tario or Newfoundland and La brador). In addition to
conducting the Offering pursuant to the Existing Sharehol der Exemption, Units will be offered to accredited
investors, close personal friends and business associates of directors and officers of the Company, and certain
investors who have been advised on the suitability of th eir investment by registered investment dealers (the
“Registered Advisor Exemption”).
The Company intends to use 55% of the net proceeds from the Offering, whether fully subscribed or not, to fund
further development of its wholly ow ned Piskanja boron project in Serbia and 45% of the net proceeds from the
Offering for general working capital purposes (consisting of payroll 28%, suppliers 11% and contractors 61%).
The Company has set September 29, 2020 as the record da te for the purpose of determining Shareholders entitled
to purchase Units relying on the Existing Shareholder Exemp tion. The aggregate acquisition cost to a subscriber
relying on the Existing Shareholder Exemption cannot exceed $15,000 in a 12-month period unless the subscriber
has obtained advice from a registered investment dealer regarding the suitability of the investment.
Unless the Company determines to increase the gross pro ceeds of the Offering and receives TSXV approval for
such increase, if subscriptions by ex isting Shareholders exceed the maximu m number of Units proposed to be
distributed after having first satisfied the subscriptions of those subscribers relying on other prospectus exemptions
referred to herein, subscribers relying on the Existing Shar eholder Exemption will be entitled to a pro rata portion
of the balance of Units available under the Offering.
Existing Shareholders are directed to contact the Comp any for further information concerning subscriptions for
Units pursuant to the Existing Shareholder Exemption, as follows:
Contact person: Blake Fallis
Telephone: 1-250- 384-1999 or 1-888-289-3746
Email: [email protected]
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The Offering is being conducted on a private placement b asis pursuant to prospectus exemptions of applicable
securities laws and remains subject to final acceptance by the TSXV. The Units, and any Warrant Shares issued,
will be subject to a four (4)-month and one-day hold peri od. One arm’s length finder is to be paid an aggregate
amount of finders’ fees equal to $7,0 00 and 175,000 broker warrants in accordance with the rules of the TSXV
Corporate Finance Manual.
In accordance with the requirements under the Existing Shareholder Exemption and the Registered Advisor
Exemption, there is no material fact or material change about the issuer that has not been generally disclosed.
On behalf of the Board of Directors,
Blake Fallis, General Manager
About Erin Ventures
Erin Ventures Inc. is an internati onal mineral exploration a nd development company with boron assets in Serbia
and gold assets in North America. Headquartered in Vict oria, B.C., Canada, Erin's shares are traded on the TSX
Venture Exchange under the symbol "EV". For de tailed information please see Erin's website at
www.erinventures.com or the Company's filed documents at www.sedar.com.
Piskanja 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 release contains forward looking statements. The words "believe," "expect," “feel,” "plan," "anticipate,"
“project,” “could,” “should” and other similar expressions generally identify forward-looking statements. Readers
are cautioned not to place undue reliance on these forward-looking statements. These forward-looking
statements are subject to a number of risks and uncertainties including, without limitation, variations in estimated
costs, the failure to discover or recover economic grades of minerals, and the inability to raise the funds
necessary, changes in external market factors including commodity prices, and other risks and uncertainties,
including the novel coronavirus pandemic. Actual results could differ materially from the results referred to in the
forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's
forward-looking information. These and other factors made in public disclosures and filings by the Company
should be considered carefully and readers should not place undue reliance on the Company's forward-looking
information. The Company does not undertake to update any forward-looking statement that may be made from
time to time by the Company or on its behalf, except in accordance with applicable securities laws.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. "Inferred Resources"
have a great amount of uncertainty as to their existence, and economic and legal feasibility. Investors are cautioned
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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. persons 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 part of an inferred mineral resource is economically or legally mineable.