Erin Ventures Announces Increase to the Proposed Private Placement

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[{"type":"text","content":"Erin Ventures Announces Increase to the Proposed Private PlacementVICTORIA, BC / ACCESSWIRE / November 23, 2018 / Erin Ventures Inc.(\"Erin\") [TSXV: EV] announces, subject to the approval of the TSX Venture Exchange (the \"TSXV\"), that due to over subscription it intends to increase the size of its previously announced private placement offering from up to $700,000 to an amount up to $750,000.Erin intends to close the placement early next week.As set out in the news release disseminated on November 14, 2018, Erin is offering units (\"Units\") at a price of $0.13 per Unit.Each Unit is comprised of one warrant which will be exercisable into one (1) Common Share of the Corporation (each a \"Warrant Share\").Each Warrant will have a term of three (3) years and will entitle the holder to purchase one (1) Warrant Share at a price of $0.155 per share in the first six (6) months following the Closing Date and $0.22 commencing on the first day of the seventh (7th ) month following the Closing date until the end of the third year following the closing date.The Warrants also have an acceleration clause whereby if the Common Shares trade on the TSXV at a price equal or greater than the designated trigger price for more than ten (10) consecutive trading days, Erin shall have the right to give written notice to the holder requiring the holder to exercise the Warrant, in whole or in part, within a period of thirty (30) days from the date of receipt of notice from Erin.The Common Shares and Warrants comprising the Units will be subject to a four-month and one day hold period in accordance with the policies of the TSXV and applicable securities legislation.The Private Placement remains subject to the final approval of the TSXV.Erin also intends to pay certain finders’ fees, commissions and broker warrants in accordance with the rules of the TSX Venture Exchange Corporate Finance Manual.The net proceeds from this financing will be used to fund further development of its wholly owned Piskanja boron project in Serbia, and for working capital purposes.This offering will be carried on a private placement basis pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange.On behalf of the Board of Directors,Blake Fallis, General ManagerAbout Erin VenturesErin Ventures Inc.is an ...

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