December 14, 2016 13:25 ET
Change in Shareholding, Exercise of Warrants and Issue of Equity
TORONTO, ONTARIO -- (Marketwired ? December 14, 2016) - Dalradian Resources Inc. (TSX: DNA/AIM: DALR) ("Dalradian" or the
"Company") was able to confirm on December 14 an increase in shareholdings by 22,812,500 common shares in the Company by
M&G Investment Management Limited (on behalf of Vanguard Precious Metals and Mining Fund) (?M&G/Vanguard?). According to a
SEDAR filing dated 8 December 2016, M&G/Vanguard held 45,625,000 common shares representing 18.8% of the issued share
capital of the Company as of 30 September 2016. The Company also announces:
- A total of 143,500 of Dalradian's warrants originally issued on 7 October 2015 (the ?October Warrants?) were exercised
from 26 September to 30 November 2016 at a price of C$1.04, resulting in proceeds to the Company of C$149,240. The shares
issued upon exercise of the warrants were admitted for trading on the AIM market of the London Stock Exchange as part of
the block admission announced on 23 September 2016.
- 100,000 common shares of no par value (?the ?Stock Options?) were issued following an exercise of options on 9 December
2016 at an exercise price of C$0.92.
- 75,000 common shares of no par value (?Landowner Common Shares?) were issued on 12 December 2016 at a price of 80p per
share. The Landowner Common Shares were issued to a landowner as part of a land purchase agreement for access to the
proposed minesite processing plant and associated facilities.
Application has been made for 175,000 common shares further to the Stock Options exercise and Landowner Common Shares
issuance, which rank pari passu with the existing common shares in issue, to be admitted to trading on AIM and admission is
expected to occur at 8:00am on or around 20 December 2016 (?the Stock Option Admission? and the ?Landowner Common Shares
Following the October Warrant Exercise, the Stock Options Admission and the Landowner Common Shares Admission, the Company
will have in issue 242,634,776 common shares. This figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their interest in, or a change to their interest
in, the Company under the Financial Conduct Authority?s Disclosure and Transparency Rules.
About Dalradian Resources Inc.
Dalradian Resources Inc. is a gold exploration and development company that is focused on advancing its high-grade
Curraghinalt Gold Project located in Northern Ireland, United Kingdom. The Company is completing a work program in support
of a planning (permitting) application for construction of an operating mine at Curraghinalt. Completed components of the
program include a feasibility study and underground exploration (960 metres of development with associated test stoping).
An environmental and social impact assessment, which is nearing completion, will also form part of the planning
In May 2016, Dalradian announced an updated Mineral Resource estimate for Curraghinalt, including a 109% increase in gold
ounces contained in the Measured and Indicated categories compared with the 2014 resource. The current Mineral Resource
consists of 2.1 million ounces of contained gold in the Measured and Indicated categories (5.61 million tonnes at 11.61
g/t) and 2.3 million ounces of contained gold in the Inferred category (7.13 million tonnes at 10.06 g/t gold). For further
information, see the 2016 Technical Report.
For more information:
Vice President Communications
+1 416 583 5622
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / Richard Tonthat / Harrison Clarke
+44 (0)20 7383 5100
Canaccord Genuity Limited (Broker)
Henry Fitzgerald-O'Connor / Martin Davison
+44 20 7523 8000
Dalradian Resources Inc.
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