Erin Ventures Announces Special Meeting to Consider a Share Consolidation
Victoria, British Columbia (FSCwire) - Erin Ventures Inc. ("Erin" or the “Corporation”) [TSXV: EV] announced today that, on August 11, 2017, it will hold a special meeting of shareholders (the “Special Meeting”) to consider, and if deemed appropriate, to approve, a special resolution to authorize an amendment of Erin’s articles to consolidate the issued and outstanding common shares of the Corporation on the basis of one post-consolidation common share for every seven pre-consolidation common shares. The details of the matters proposed to be put before the Special Meeting are set forth in the management information circular (the “Circular”) to be available on SEDAR and mailed to shareholders on or about July 17, 2017. At the Special Meeting, shareholders may also be asked to consider and vote in respect of other matters that may be properly brought before the Special Meeting. Management is not currently aware of any such other matters.
Erin’s board of directors believes that the proposed consolidation is in the best interest of its shareholders in that it will permit Erin greater flexibility and opportunity regarding certain future corporate activities which are designed to help increase shareholder value. Activities which may be positively impacted by a consolidation are expected to include Erin’s ability to structure strategic alliances, enhanced marketability of its common shares as an investment which aids in fund raising activities, and an increased interest by a wider audience of potential investors, brokers and analysts that may consider investing or be able to invest in the Corporation as a result of an increase in the market price of its common shares, and a reduction in the number of shares outstanding. Each of these factors result in an enhanced ability for Erin to advance its mineral projects on terms, and with methods, that are more favorable to the Corporation than what currently exist.
Subject to the approval of the TSX Venture Exchange, approval of the special resolution by shareholders would give the Board of Directors the authority to implement the share consolidation, or, in its discretion, revoke the special resolution, without further approval or action or prior notice to shareholders. If approved and implemented, the share consolidation will occur simultaneously for all of the Corporation’s common shares and will affect all shareholders and holders of convertible securities such as options, warrants and convertible debt, uniformly.
The Circular will contain, among other things, details concerning the proposed share consolidation, requirements for the share consolidation to be implemented and the procedure for receiving new shares if the share consolidation is implemented, as well as the procedures for voting at the meeting and other related matters. Shareholders are urged to carefully review the Circular and accompanying materials as they will contain important information regarding the share consolidation. A copy of the Circular will be available on SEDAR at www.sedar.com.
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.
Piskanja is Erin’s wholly owned high-grade boron deposit with an indicated mineral resource of 7.8 million tonnes (averaging 31 per cent B2O3), in addition to an inferred resource of 3.4 million tonnes (averaging 28.6 per cent B2O3), calculated in accordance with the Canadian Institute of Mining Definition Standards on Mineral Resources and Reserves (CIM Standards).
| 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 |
James E Wallis, M.Sc. (Eng), P. Eng., a director of Erin, is the Qualified Person who supervised the preparation of the technical data in this news release.
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. Actual results could differ materially from the results referred to in the forward-looking statements.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/ErinVentures06072017.pdf
Source: Erin Ventures Inc. (TSX Venture:EV)
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