Vancouver, BC (February 10, 2017) Eros Resources Corp. (TSX.V: ERC) (“Eros” or the Company”) advises that on February 8, 2017, it exercised two million warrants in Westcore Energy Ltd. (TSX.V: WTR) (“Westcore”) at an exercise price of $0.15. By virtue of owning greater than 10% of Westcore common shares on a fully diluted basis, Eros is considered an insider of Westcore.
Prior to the transaction, Eros owned two million common shares of Westcore, and two million warrants, exercisable at $0.15 for common shares of Westcore. This represented a 6.85% undiluted, or 12.82% partially diluted ownership percentage of Westcore. Through the exercise of these warrants, Eros’s ownership of Westcore increased to four million common shares, representing 12.82% of the 31,193,689 outstanding shares of Westcore. The Company has no remaining Westcore warrants.
Eros Resources Corp. is a well-financed Canadian public company focused on the exploration and development of resource projects in North America. Eros also holds an investment portfolio which includes 48 million shares of Skeena Resources Ltd., which is advancing exploration on 3 exciting projects, Spectrum-GJ, Snip and the past-producing Porter Idaho silver mine in the Golden Triangle of the Stikine Arch of northwestern British Columbia.
On behalf of the Board of Directors of
Eros Resources Corp.,
President & CEO
Cautionary note regarding forward-looking statements
Certain statements made and information contained herein may constitute “forward looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities legislation, including, among other things, information with respect to this presentation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as “anticipates”, “believes”, “targets”, “estimates”, “plans”, “expects”, “may”, “will”, “could” or “would”. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.
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