Not for distribution to United States newswire services or for release publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.
Vancouver, BC, March 21, 2025 (GLOBE NEWSWIRE) — Eros Resources Corp. (TSXV:ROCK) (OTCQB:EROSF) (“Eros” or the “Company”) is pleased to announce a non-brokered private placement financing of up to 36,000,000 units at a price of $0.05 per unit (the “Units”) for gross proceeds of $1,800,000 (the “Offering”). The financing is now fully subscribed for and the Company plans to close shortly.
Each Unit will consist of one common share and one transferrable common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.075 per share for three (3) years from the date of issue, subject to accelerated expiry.
In the event that, after the date that is four months from the date of issue of the Warrants, if the closing price of the Company’s common shares on the TSX Venture Exchange (the “TSXV”) or any other stock exchange on which the Company’s common shares are then listed, is at a price equal to or greater than $0.10 for a period of ten (10) consecutive trading days, the Company will have the right to accelerate the expiry date of the Warrants by issuing a press release announcing that the Warrants will expire at 5:00 p.m. (Vancouver time) on the date that is not less than 30 days from the date notice is given.
The Company recently announced the completion of a three-way amalgamation between Eros Resources, MAS Gold and Rockridge Resources. The combined company will own significant gold and copper exploration projects in Saskatchewan. The use of proceeds from the Offering will be used for general working capital and exploration in Saskatchewan.
This financing is subject to regulatory approval, including the approval of the TSXV. The Company may pay finders fees in accordance with the policies of the TSXV. All securities to be issued pursuant to the Offering are subject to a four-month hold period under applicable Canadian securities laws.
About Eros Resources Corp.:
Eros Resources Corp. is a Canadian public mineral exploration company listed on the TSXV focused on the acquisition, exploration and development of mineral resources properties in Canada and advancing its copper and gold exploration projects in Saskatchewan, including two gold Projects in the prospective La Ronge Gold Belt totaling 35,176 hectares (86,921 acres), as well as the 100% owned Knife Lake Project.
For further information, please contact:
Eros Resources Corp.:
Jonathan Wiesblatt, Chief Executive Officer
Telephone: 647-203-9190
Email: jwiesblatt@rockridgeresourcesltd.com
For further information contact myself or:
Jordan Trimble, President or
Andrew Ramcharan, Corporate Communications
Eros Resources Corp.
Telephone: 647-309-5130
Toll Free: 800-567-8181
Facsimile: 604-687-3119
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the 1933 Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
Forward-Looking Information and Statements:
This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedarplus.ca for further information.
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