EVA Evrima Plc

 
TIDMEVA 
 
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO 
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION 
(EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT 
VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW 
CONSIDERED TO BE IN THE PUBLIC DOMAIN. 
 
                                  Evrima plc 
 
                                   AQSE: EVA 
 
                          ("Evrima" or the "Company") 
 
                Acquisition of a further 17.2% interest in KKME 
 
Exercise of Option over 17.2% of Kalahari Key Mineral Exploratiom Company (Pty) 
    Limited ("KKME"), resulting in Evrima having a 19.6% interest in KKME. 
 
Particulars of the RIS Announcement 
 
 1. Exercise of Option, increasing Evrima's interst in KKME to 19.6% 
 2. KKME Operational Update 
 3. CEO's Statement 
 4. Admission of New Shares & Total Voting Rights 
 
 1. Exercise of Option, increasing Evrima's interst in KKME to 19.6% 
 
Pursuant to the option agreement ("Option Agreement") that Evrima entered into 
with two of the founding shareholders of KKME (please refer to the Company's 
news release of 8th September 2020 headed "Re. Option Agreement"), the Company 
is pleased to announce that, after a period of evaluation and due diligence, 
Evrima is exercising its option granted in the Option Agreement. 
 
Prior to signing the Option Agreement, Evrima held a 2.4% interest in KKME; 
following the optionexercise, it will have acquired a further 17.2% of KKME 
resulting in Evrima holding an interest of 19.6% in the capital of KKME. 
 
The aggregate consideration of GBP138,000 (one hundred and thirty-eight thousand 
pounds Sterling) payable upon exercise to the grantors of the opton 
("Grantors") shall be satisfied through the issue of 2,300,000 new ordinary 
shares in the capital of the Company to be allotted at the price of GBP0.06 (six 
pence) per share ("Consideration Shares"). In addition to the Consideration 
Shares, the Grantors shall be awarded, 2,300,000 warrants over one further new 
ordinary share each in the capital of the Company at an exercise price of GBP0.12 
(twelve pence) per share and a life to expiry of three years from the date on 
which the Consideration Shares shall have been admitted to trading on AQSE 
Growth Market. 
 
Following the allotment of the Consideration Shares, the Grantors will be 
interested in 9.18% of the enlarged issued share capital of Evrima as follows: 
 
Name of Grantor Shares      Holding after Warrants    Total Shares   Percentageof 
/Shareholder    Currently   Consideration Held        after          Enlarged 
                Held        Shares                    Allotment of   Issued Share 
                            Allotted                  Consideration  Capital of 
                                                      Shares         Company 
 
Rickey Gerhard     None       1,150,000    1,150,000    1,150,000       4.59% 
Bonner 
 
Simon John Bate    None       1,150,000    1,150,000    1,150,000       4.59% 
 
 1. KKME Operational Update 
 
KKME's flagship project, the Molopo Farms Complex ("MFC") has been extensively 
developed over a number of years. The opportunity was originally identified by 
four seasoned metal explorers who evaluated a number of prospecting licenses 
that demonstrated no historical exploration targeting "feeder" styles of 
Ni-Cu-PGE mineralisation had hitherto been completed within the Molopo Farms 
ultramafic complex. 
 
In 2019, KKME entered a financing and earn-in agreement with AIM-quoted Power 
Metal Resources plc (AIM: POW). POW currently owns 18.26% of KKME and has 
elected to exercise an option granting it the right to earn a 40% direct 
project interest in the MFC by completing qualifying expenditures totalling 
US$500,000 by the end of this calendar year. 
 
Despite the difficulties surrounding exploration campaigns in light of the 
global pandemic, POW and KKME have shown immense operational ability in 
announcing the commencement of a 2,505 metre maiden diamond drill campaign. 
KKME has identied 14 targets, with this maiden campaign focusing on four of 
these. The target hole depths will vary between 525 and 710 metres. 
 
The purpose of the programme is to validate the considerable technical work 
that has been done to date, indicating the targets to be prospective for 
massive nickel sulphide mineralisation which, if confirmed, could lead to a 
number of highly favourable outcomes and an accelerated revaluation of the 
Molopo Farms Complex. 
 
The shareholders of KKME are frequently kept up to date through both our fellow 
KKME-shareholder and earn-in party, Power Metal Resources plc (AIM: POW), and 
KKME itself. At present, the programme has commenced successfully and the first 
of the four holes has reached a depth of 445 metres (as at 10th November 2020) 
which is fast approaching the target zone with the modelled target 1-14 
conductor being at a depth of approximately 505 metres. 
 
 1. CEO Statement, Burns Singh Tennent-Bhohi 
 
"It is with much excitement that we announce the acquisition of a further 17.2% 
interest in KKME. That company is now entering a critical period of its 
development cycle through the support of our fellow KKME-shareholder, Power 
Metal Resources plc (AIM: POW), which is engaging its rights under an earn-in 
agreement entered into in 2019 with KKME. 
 
Evrima sits in a rare position as an investor in the junior exploration market, 
whereby it has become the beneficiary of a fully-funded, $500,000 maiden 
diamond drill campaign that has commenced notwithstanding the global conditions 
that have restricted so many in the industry from accessing capital and 
operational workforces. 
 
The Company has increased its equity interest in KKME as close to potential 
discovery as one could reasonably hope, deploying non-cash consideration and 
welcoming as shareholders of Evrima two co-founders of KKME who understand the 
significance of the project more than most, creating a strong exchange of 
mutual value. 
 
The Directors look forward to providing further updates with relation to the 
Molopo Farms Complex drill programme over the weeks and months ahead." 
 
 1. Admission of Shares & Total Voting Rights (TVRs) 
 
Application will be made for the Consideration Shares to be admitted to trading 
on AQSE Growth Market and this is expected to occur on or around 4th December 
2020. No application shall be made to admit to trading on AQSE Growth Market or 
to any other forum of quotation the warrants being issued alongside the 
Consideration Shares. 
 
Following the allotment of the Consideration Shares, Evrima plc's ordinary 
issued share capital shall comprise of 25,036,728 ordinary shares of GBP0.001 
(22,736,728 shares) . This number will represent the total voting rights in the 
Company, and upon admission, may be used by shareholders as the denominator for 
the calculation by which they can determine if they are required to notify 
their interest in, or change to their interest in, the Company under the 
Financial Conduct Authoriry's Disclosure and Transparency Rules. The news 
shares will rank pari passu in all respects with the Ordinary Shares of the 
Company currently traded on AQSE. 
 
Following the issue of the Consideration Shares the Directors of the Company 
will be interested in: 
 
Director/Connected    No.of     Percentage Percentage of Enlarged share Capital 
Party                 Shares    of Issued  upon Admission of Consideration 
                      Currently Share      Shares 
                      Held      Capital 
 
Simon Grant-Rennick*  3,540,000   15.57%                  14.14% 
 
Burns Singh            700,000    3.07%                    2.79% 
Tennent-Bhohi 
 
Guy Miller             500,000    2.19%                     2% 
 
*Simon Grant-Rennick is interested in 3,540,000 voting rights through Alpha 
Corporate Services (Bermuda) Ltd., a trust to which he is an adviser. 
 
Evrima plc, 
 
London, 13th November 2020 
 
The Directors of the Company, who have issued this RIS announcement after due 
and careful enquiry, accept responsibility for its content. 
 
Enquiries 
 
Company: 
 
Burns Singh Tennent-Bhohi (CEO & Director) 
 
burnsstb@evrimaplc.com 
 
Simon Grant-Rennick (Executive Chairman) 
 
simongr@evrimaplc.com 
 
Direct Office Line: +44 (0) 20 3778 0755 
 
Keith, Bayley, Rogers & Co. Limited (AQSE Corporate Adviser): 
 
Graham Atthill-Beck: +44 (0) 20 7464 4091; +44 (0) 7506 43 41 07; +971 (0) 50 
856 9408; Graham.Atthill-Beck@kbrl.co.uk; blackpearladvisers@gmail.com 
 
Peterhouse Capital Limited (Corporate Stockbroker): 
 
Lucy Williams: +44 (0) 20 7469 0930 
Duncan Vasey: +44 (0) 20 7220 9797 (Direct) 
 
 
 
END 
 

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