EVA Evrima Plc

 
TIDMEVA 
 
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY EVRIMA PLC TO 
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION 
(EU) NO. 596/2014, AS AMENDED ("MAR") WHICH IS, BY VIRTUE OF THE EUROPEAN UNION 
(WITHDRAWAL) ACT 2018, PART OF UNITED KINGDOM LAW. UPON THE PUBLICATION OF THIS 
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS 
NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. 
 
                                  Evrima plc 
 
                                   AQSE: EVA 
 
                          ("Evrima" or "the Company") 
 
 Evrima plc Completes Initial Investment in Eastport Ventures Inc. & Eastport 
           Ventures Inc. Commences Maiden Drill Campaign at Jwaneng 
 
Particulars of the RIS Announcement 
 
 1. Eastport Ventures Inc. ("Eastport Ventures") Overview 
 2. Eastport Ventures Commences Maiden Drill Campaign at Jwaneng North 
 3. Evrima plc complete initial investment acquiring 1.62% of Eastport and 
    secure an exclusive subscription agreement to increase the company's 
    ownership for a period of 45 business days 
 4. Related Parties Disclosure 
 5. Chairman's Statement 
 
        1. Eastport Ventures Overview 
 
Eastport Ventures is a company incorporated and registered in Ontario, Canada, 
which was formed by seasoned explorers and corporate investors for the purpose 
of identifying and evaluating mineral opportunities in Southern Africa, with a 
specific geologic focus on Botswana. The commercial objective of Eastport 
Ventures has been patiently to accumulate a portfolio of advanced exploration 
and investment opportunities at junctures in the resources demand cycle when 
commodity markets were depressed.  This covered a range of commodities that the 
Eastport Ventures' team believed would attract capital investment upon an 
upturn in global capital markets, coupled with a renewed appetite for 
undervalued mining and exploration assets. 
 
Eastport Ventures has hitherto amassed a portfolio of interests spanning 
copper, nickel, uranium, and diamonds; it has additionally created an internal 
investment division that currently has a value in excess of C$2,500,000. The 
mineral assets within Eastport Ventures have attracted an aggregate of over 
USD$15,000,000 in both historic and current capital expenditure. 
 
On  March 24th 2021, as previously announced, Evrima entered into a conditional 
investment memorandum with Eastport Ventures as the latter progresses to its 
own IPO on a recognised investment exchange; Eastport Ventures has commenced 
its maiden drill campaign at Jwaneng and prepares to follow up with a 2,500m to 
5,000m diamond drill programme on its Matsitama Copper Project focusing 
initially on the highly prospective: 
 
Phudulooga Target [Historic Drilling Returned] 
 
  * DS07-011 - 4.42% Cu, 5.94 g/t Ag over 3.3m at 24.1m depth 
  * DS07-012 - 3.36% Cu, 3.72g/t Ag over 3.4m at 85.8m depth 
 
Nakalakwana Target [Historic Drilling Returned] 
 
  * NH-014 - 2.47% Cu over 10m at 65.9m depth 
  * NH-016 - 2.42% Cu over 5.26m at 60.4m depth 
 
        2. Eastport Ventures Commences Maiden Drill Campaign at its Jwaneng 
North Diamond Project 
 
Eastport Ventures is pleased to announce that drilling has commenced at its 
wholly owned Jwaneng North Project to the immediate north of Debswana's Jwaneng 
Diamond Mine in South Central Botswana. A two-hole, 600m programme will sample 
two separate kimberlites; the Kgare & EVB04. 
 
Following geological work on the core, split samples will be sent to SRC in 
Canada for diamond recovery and indicator chemistry studies. The first hole is 
planned to a depth of 400m; presently it is at 196m and in kimberlite. 
 
The programme is expected to end in later this month (August, 2021). An update 
on the diamond results will be provided on completion of the programme. iQuest 
consulting Ltd is supervising the drilling and monitoring compliance with 
national Covid-19 procedures. Access, water, and environmental agreements and 
permits are also in place and are being closely monitored. 
 
A short video of the drill and core photos are available on the Eastport 
Ventures social media sites (Instagram: EastportV and Twitter: @EastportV) and 
website Eastport Ventures and also on the Evrima website Evrima plc and social 
media feed. 
 
        3. Evrima completes initial investment acquiring 1.62% of Eastport 
Ventures and secures an exclusive subscription         agreement to increase 
its investment interest for a period of 45 business days 
 
Following the Company's commissioning of an independent valuation opinion of 
Eastport Ventures, Evrima has acquired 1.62% of Eastport Ventures through a 
subscription for new ordinary shares ("Shares") of Eastport Ventures. Evrima 
has subscribed for 523,667 units in this pre-IPO financing with each unit 
having a subscription price of $0.30¢ and consisting of one Share and one 
subscription warrant ("Warrant"). The attaching Warrants shall have a strike 
price of $0.60¢ and a life to expiry of five years. 
 
The Company has also secured an exclusive subscription agreement that entitles 
Evrima to subscribe for up to a further 2,000,000 Shares on like terms for a 
period of 45 business days from the date of this announcement. 
 
This pre-IPO round in which the Company has participated is to capitalise the 
Jwaneng Diamond programme (currently drilling) and a subsequent 2,500 - 5,000m 
diamond drillig campaign at the Matsitama Copper Project, for which 
preparations are underway, with a scheduled start date of late-September 2021. 
 
        4. Related Parties Disclosure 
 
Mr. Burns Singh Tennent-Bhohi is a Director and shareholder of Evrima, and is 
the Chief Executive Officer/Co-Founder and a shareholder of Eastport Ventures, 
Mr Guy Miller is a Director and shareholder of Evrima and a shareholder of 
Eastport Ventures. 
 
Mr Rick Bonner, who holds in excess of 3% of Evrima, is also a shareholder and 
Director of Eastport Ventures Inc., Mr Simon Bate, who holds in excess of 3% of 
Evrima, is also a shareholder of Eastport Ventures' local subsidiary in 
Botswana. 
 
        5. Simon Grant-Rennick, Chairman's, Statement 
 
"We have been in advanced commercial discussions with Eastport Ventures for a 
number of months. Our focus has been on evaluating the underlying assets and 
Eastport Ventures' development objectives. We note that Eastport Ventures' 
investment portfolio has seen an increase in value during our review, with one 
investment position posting an increase of in excess of 40-times the original 
cost. 
 
Eastport Ventures is now entering an extremely active period of exploration as 
it commences its maiden drill campaign at Jwaneng North, a diamond project 
adjacent to the Jwaneng Mine owned by Debswana where, earlier this year, the 
third-largest Diamond discovery in Botswana was found. This project has 
attracted interest from major mining institutions, with certain of which 
discussions are ongoing. 
 
On completion of its drilling programme at Jwaneng, Eastport is also scheduled 
to undertake a 2,500m - 5,000m diamond drilling programme at the Matsitama 
Copper Project, where historic drill intercepts report copper grades in excess 
of 4% over mineable widths and depths. 
 
I look forward to updating the market on the developments with our new investee 
as it seeks to augment the value of its underlying assets through strategic 
exploration and development as it works to consummate a going-public 
transaction, the current preference being for a reverse takeover or initial 
public offering on a recognised investment exchange." 
 
London, 19th August 2021 
 
The Directors of the Company, who have issued this RIS announcement after due 
and careful enquiry, accept responsibility for its content. 
 
REGULATORY ANNOUNCEMENT ENDS 
 
Enquiries: 
 
Company: 
Burns Singh Tennent-Bhohi (CEO & Director) 
burns@evrimaplc.com 
 
Simon Grant-Rennick (Executive Chairman) 
simon@evrimaplc.com 
 
Keith, Bayley, Rogers & Co. Limited (AQSE Corporate Adviser): 
Graham Atthill-Beck: +44 (0) 7506 43 41 07; 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 
 
 

(END) Dow Jones Newswires

August 19, 2021 09:21 ET (13:21 GMT)

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