Evrima Plc Directorate Change & Investment Update
February 02 2023 - 7:19AM
UK Regulatory
TIDMEVA
2 February 2023
Evrima plc
("Evrima" or the "Company")
Directorate Change & Investment Update
Evrima plc, the investment issuer focused on structuring investment
transactions in the mining and junior exploration and development
industries wishes to notify its shareholders that with effect of the 3rd
February, Mr Guy Miller, presently a Non-Executive Director of the Company will
resign his post as Director of Evrima plc and to provide an update to its
shareholders as to its Premium Nickel Resources (TSX-V: PNRL) ("PNR")investment
position.
Chief Executive Officer, Burns Singh Tennent-Bhohi commented,
"Due to Guy's corporate commitments the Board were always aware that his tenure
was subject to certain milestones. Of most significance was seeing the Company
achieve financial depth and a defined corporate strategy that provided a
platform for future growth.
Guy has been an incredibly dedicated and committed Director which is further
reflected in the capital support he has provided the Company since July 2020
and his input and commitment to see the Company operate to high standards.
I would like to take this opportunity on behalf of the Board of Evrima to thank
Guy for his years of service and support and wish him well in his future
endeavours."
Outgoing Director, Guy Miller commented,
"With PNR now listed with an approximate market capitalisation of CAD$235m,
Evrima has liquid common shares with a market value of $1,600,000 (CAD). The
Company's also holds 3,377,888 shares in Eastport Ventures Inc., another
investee working towards a listing on a recognised investment exchange. This
would further strengthen the Company's balance sheet enabling Evrima to
evaluate further investments in the Company's adopted strategy, namely to
invest in and/or acquire companies and/or projects within the natural resources
sector.
Whilst I am concluding my journey as a Director, I remain a supportive
shareholder of a Company that has the opportunity to deliver tangible value for
shareholders in the future."
Following the resignation of Mr Guy Miller, the Board will comprise;
Simon Grant-Rennick (Executive Chairman)
Burns Singh Tennent-Bhohi (Chief Executive Officer)
Duncan Gordon (Non-Executive Director)
The Board will continue to consider future appointments to the Company.
Premium Nickel Resources (TSX-V: PNRL) Investment Update
The Board of Directors are pleased to announce that it has recovered its cost
of investment in, investee, Premium Nickel Resources Ltd (TSX-V: PNRL) through
a series of sales in the shares of the investee.
A breakdown of the Company's resulting position, recovery of investment
capital, net sale price & Return on Investment has been provided below:
(All figures below shown in CAD$)
Number of Shares Held Average Book Cost Per Cost of Investment
Share
1,114,115 $0.21 $233,964.14
Number of Shares Sold Average Sale Price Gross Proceeds
175,000 $1.71 $299,236
Return on Investment for Shares Sold: 714%
Resulting Position in TSX-V: PNRL 939,115
Resulting Valuation at Current Share $1,634,060
Price ($1.74)*
*Closing market price as at 1st February 2023, data for closing market price
captured at TMX for which link can be found here
Following the sales of the shares as quoted above the Company have elected to
exercise all of their existing warrants held in Premium Nickel Resources
(TSX-V: PNRL), upon the issue of the new ordinary shares (warrant exercise
shares) the resulting position post-exercise can be found below:
Number of Warrants Held Strike Price Cost of Exercise
12,500 $1.75 $21,875
Resulting Position Post Exercise of 951,615
Warrants
The Directors of Evrima accept responsibility for this announcement.
This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).
Ends -
Enquiries :
Company:
Burns Singh Tennent-Bhohi (CEO & Director): burns@evrimaplc.com
Simon Grant-Rennick (Executive Chairman): simon@evrimaplc.com
Novum Securities Limited (AQSE Corporate Adviser):
David Coffman / George Duxberry: + 44 (0) 20 7399 9400
END
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