Tethyan ar­ranges $3.15-mil­lion pri­vate place­ment

Tethyan Re­sources PLC has ar­ranged a $3.15-mil­lion pri­vate place­ment with 10.5 mil­lion post­con­sol­i­dated shares at 30 cents per share. The com­pany will use the pro­ceeds for a planned drilling pro­gram at its Rud­nitza cop­per-gold prospect in early 2018.

Stockwatch Daily - - FRONT PAGE - Mr. Fabian Baker re­ports

TETHYAN RE­SOURCES PLC has ar­ranged a pri­vate place­ment of up to $3.15-mil­lion com­pris ing u p to 10.5 mil­lion or­di­nary shares at 30 cents per or­di­nary share on a post­con­sol­i­dated (1:6) ba­sis. South­ern Arc Min­er­als Inc. in­tends to in­vest up to $950,000 and ac­quire up to 3,167,000 or­di­nary shares un­der the pri­vate place­ment.

The clos­ing of the pri­vate place­ment is sub­ject to the com­ple­tion of the pre­vi­ously an­nounced share con­sol­i­da­tion (on the ba­sis of one new or­di­nary share for each ex­ist­ing six or­di­nary shares) and the ap­proval of the TSX Ven­ture Ex­change. The com­pany may pay a 6-per-cent finder’s fee in cash and 6 per cent in war­rants in con­nec­tion with the fi­nanc­ing. Each war­rant will be ex­er­cis­able for two years from the clos­ing date at a price of 30 cents per post­con­sol­i­dated or­di­nary share. The or­di­nary shares and the war­rants is­sued to find­ers (and shares un­der­ly­ing the finder war­rants) pur­suant to the pri­vate place­ment will be sub­ject to a four-month hold pe­riod from the date of clos­ing in ac­cor­dance with ap­pli­ca­ble se­cu­ri­ties leg­is­la­tion.

The net pro­ceeds from the pri­vate place­ment will be used to fi­nance Tethyan’s planned drilling pro­gram at the Rud­nitza cop­per-gold por­phyry prospect in early 2018 as well as to ad­vance other ear­lier-stage prospects to­ward the iden­ti­fi­ca­tion of new drill tar­gets and for gen­eral work­ing cap­i­tal.

South­ern Arc presently owns 29.9 per cent of the is­sued and out­stand­ing or­di­nary shares of Tethyan on an undi­luted ba­sis and will not ex­ceed that per­cent­age on clos­ing of the pri­vate place­ment. The pro­posed pri­vate place­ment by South­ern Arc will be a re­lated party trans­ac­tion within the mean­ing of Mul­ti­lat­eral In­stru­ment 61-101, Pro­tec­tion of Mi­nor­ity Se­cu­rity Hold­ers in Spe­cial Trans­ac­tions, by virtue of South­ern Arc be­ing a con­trol per­son of Tethyan. The pri­vate place­ment is ex­empt from the for­mal val­u­a­tion re­quire­ments of MI 61-101 pur­suant to Sec­tion 5.5(b) thereof and is ex­empt from the mi­nor­ity share­holder ap­proval re­quire­ments by virtue of Sec­tion 5.7(a) thereof.

About Tethyan Re­sources PLC

Tethyan Re­sources is a gold and base metal min­eral ex­plo­ration com­pany in­cor­po­rated in Eng­land and Wales. Tethyan is fo­cused on the Tethyan met­al­lo­genic belt in east­ern Europe, mainly Ser­bia, where it is ac­quir­ing and ex­plor­ing a port­fo­lio of qual­ity pre­cious metal and base metal projects with known min­er­al­iza­tion and com­pelling drill tar­gets.

We seek Safe Har­bor.

Met­als)(TETH) Shares: 168,182,052 (Mines &

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