Plethora Precious Metals Fund

February 03, 2017 02:48 ET

Plethora Precious Metals Fund Acquires Additional Securities of Nikos Explorations

AMERSFOORT, NETHERLANDS--(Marketwired - Feb. 3, 2017) - Plethora Precious Metals Fund ("Plethora") announced that on February 2, 2017 it has, by way of a non-brokered private placement (the "Private Placement"), acquired 3,125,000 units ("Units") of Nikos Explorations Ltd. ("Nikos", which has a head office at Marine Building, 1260-355 Burrard Street, Vancouver, British Columbia V6C 2G8). Plethora subscribed for the Units at a price of $0.08 per Unit, for an aggregate consideration of $250,000, with each Unit consisting of one common share of Nikos and one common share purchase warrant exercisable to purchase an additional share common share of Nikos at a price of $0.13 per share until February 1, 2019.

Immediately following the closing of the Private Placement, Plethora had ownership or control, directly or indirectly, over an aggregate of 4,125,000 common shares of Nikos, representing approximately 16.5% of the number of common shares of Nikos then issued and outstanding, on a non-diluted basis, and approximately 28.4% of the number of common shares of Nikos then issued and outstanding on a partially-diluted basis (assuming only the exercise in full of the 4,125,000 common share purchase warrants of Nikos held by Plethora). Prior to the closing of the Private Placement, Plethora had ownership or control, directly or indirectly, over an aggregate of 1,000,000 common shares of Nikos, representing approximately 5.59% of the number of common shares of Nikos then issued and outstanding, on a non-diluted basis, and approximately 10.59% of the number of common shares of Nikos then issued and outstanding on a partially-diluted basis (assuming only the exercise in full of the 1,000,000 common share purchase warrants of Nikos then held by Plethora).

Plethora has provided an undertaking to Nikos confirming it will not exercise its Nikos share purchase warrants to the extent that such exercise would cause Plethora to hold 20% or more of the issued and outstanding common shares of Nikos until Nikos obtains the requisite regulatory approval.

Plethora acquired the Units for investment purposes.

This news release is being issued in accordance with National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

For more information or to obtain a copy of the early warning report filed in respect of this press release, contact Plethora Precious Metals Fund Management at Ramstraat 31-33, unit 2.5, 3581 HD Utrecht, Netherlands or vanhees@plethorapm.com.

Contact Information

  • Plethora Precious Metals Fund Management
    Ramstraat 31-33, unit 2.5
    3581 HD Utrecht
    Netherlands
    vanhees@plethorapm.com