Victoria, British Columbia (FSCwire) - Erin Ventures Inc. (“Erin” or the “Company”) [TSX-Venture: EV] announces today that it has completed its private placement announced on December 2, 2014 and updated January 16, 2014 for total gross proceeds of $544,500.00.

 

The Company raised CAD$147,500.00 by closing the second tranche of its non-brokered private placement. Pursuant to the terms of the private placement, Erin issued 2,950,000 units at a price of $0.05 per unit (the “Units”). Each Unit consists of one common share of the Company and one common share purchase warrant (the “Warrant”). Each Warrant entitles the holder to purchase one common share of the Company exercisable at $0.15 for the first two years and with an exercise price of $0.30 in the third year.

 

All securities issued in connection with this second tranche offering are subject to a four-month-and-one-day hold period expiring on May 31, 2015, pursuant to applicable securities legislation and the rules of the TSX Venture Exchange.

 

This offering was 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.

 

The net proceeds from this placement will be used to fund the company's exploration activities on its Piskanja, Serbia property and for working capital purposes.

 

About Erin Ventures Inc.

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.

 

On behalf of the Board of Directors,

Blake Fallis, General Manager

 

For further information, please contact:

Erin Ventures Inc.

Blake Fallis, General Manager

 

Phone:  1 -250- 384-1999 or 1-888-289-3746

_www.erinventures.com
645 Fort Street, Suite 203
Victoria BC V8W 1G2
Canada

 

Erin's Public Quotations

 

Canada

TSX Venture: EV

 

USA

SEC  12G3-2(B) #82-4432

OTCBB: ERVFF

 

Europe Berlin: 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.   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/erinventures01302015.pdf

Source: Erin Ventures Inc. (TSX Venture:EV) http://www.erinventures.com

 

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