Dalradian receives $20 million from recent warrant exercises
TORONTO, ONTARIO--(Marketwired - Oct 12, 2017) - Dalradian Resources Inc. (TSX:DNA)(AIM:DALR) ("Dalradian" or the "Company") announces that a total of 19,187,650 of Dalradian's common share purchase warrants originally issued on 7 October 2015 (the "October Warrants") were exercised between 22 September 2017 and 10 October 2017 at a price of C$1.04, resulting in proceeds to the Company of C$19,955,156. Included in this amount is 371,250 warrants exercised by Dalradian's officers and directors totalling C$386,100 (AIM announcement of 11 October 2017) and 6,250,000 warrants exercised by Osisko Gold Royalties Ltd. totalling C$6.5 million (news release of 10 October 2017).
In total, 50,183,000 of the October warrants were exercised, representing 99.7% of the issued warrants.
The shares issued upon exercise of the warrants were admitted for trading on the AIM market of the London Stock Exchange as part of the block admission announced on 23 September 2016.
Following the October Warrant exercises, the Company will have in issue 302,036,596 common shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
About Dalradian Resources Inc.
Dalradian Resources Inc. is a mineral exploration and development company that is focused on advancing its high-grade Curraghinalt Gold Project located in Northern Ireland, United Kingdom.
Contact
Dalradian Resources Inc.
Marla Gale
Vice President Communications
+1 416 583 5600
investor@dalradian.com
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / Richard Tonthat
+44 (0)20 7383 5100
Canaccord Genuity Limited (Broker)
Henry Fitzgerald-O'Connor / Martin Davison
+44 (0)20 7523 8000