REG - Eurasia Mining PLC - Extension of Company Options

Eurasia MiningAnnouncement

02/11/2022 14:45

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RNS Number : 1161F  Eurasia Mining PLC  02 November 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN REGULATION NO.
596/2014 (AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018) AND IS IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS
UNDER ARTICLE 7 OF THAT REGULATION.

2 November 2022

Eurasia Mining Plc

Extension of Company Options

Eurasia Mining plc ("Eurasia" or the "Company"), the palladium, platinum,
rhodium, iridium and gold producing company, announces that it has extended
the expiry date on a class of share options which were granted to certain
Directors, employees and a substantial shareholder on 2 November 2018 with a
three-year term.

The expiry date on 151,000,000 share options, with a range of exercise prices
(the "Options") has been extended for a period of six months from 2 November
2022 to 2 May 2023 (the "Options Extension")

Related Party Transaction

As 40,000,000 of the Options are held by Christian Schaffalitzky, the
Company's Executive Chairman and Dmitry Suschov, a substantial shareholder in
the Company (the "Related Parties"), the Options Extension constitutes a
related party transaction under Rule 13 of the AIM Rules.

The Options which are held by the Related Parties are summarised in the table
below:

 Related Party            Options exercisable at 0.42 pence expiring 2 May 2023  Options exercisable at 0.60 pence expiring 2 May 2023  Options exercisable at 0.90 pence expiring 2 May 2023  Total Options
 Christian Schaffalitzky  10,000,000                                             5,000,000                                              5,000,000                                              20,000,000
 Dmitry Suschov           10,000,000                                             5,000,000                                              5,000,000                                              20,000,000

 

Accordingly, the Company's directors who are independent of the Options
Extension (being all directors with the exception of Christian Schaffalitzky)
consider, having consulted with the Company's nominated adviser, that the
terms of the Options Extension are fair and reasonable insofar as shareholders
of the Company are concerned.

Outstanding Options and Warrants

As a result of the Options Extension, the Company has the following
outstanding share options and warrants:

·    62,000,000 options exercisable at 0.42 pence, expiring on 2 May 2023;

·    47,000,000 options exercisable at 0.60 pence, expiring on 2 May 2023;

·    42,000,000 options exercisable at 0.90 pence, expiring on 2 May 2023;

·    53,306,751 warrants exercisable at 26.5 pence, expiring 20 May 2024;
and

·    41,551,563 warrants exercisable at 26.0 pence, expiring 20 September
2024.

A copy of this announcement is also available on Eurasia's website at:

https://www.eurasiamining.co.uk/investors/news-announcements
(https://www.eurasiamining.co.uk/investors/news-announcements)

 

For further information, please contact:

 Eurasia Mining Plc                             +44 (0) 20 7932 0418
 Christian Schaffalitzky / Keith Byrne
 SP Angel (Nominated Advisor and Joint Broker)  +44 (0) 20 3470 0470

 Jeff Keating / David Hignell / Adam Cowl
 Optiva Securities (Joint Broker)               +44 (0) 20 3137 1902

  Christian Dennis

 

Eurasia Mining plc is a PGM and battery metals producing company, operating
the established West Kytlim Mine in the Urals, and also being the operator of
the Monchetundra Project comprising two predominantly palladium open pit
deposits located 3km away from Severonickel, one of Norilsk Nickel's largest
base metals and PGM processing facilities, near the town of Monchegorsk on the
Kola Peninsula.

 

Eurasia's project portfolio also includes Nittis-Kumuzhya-Travyanaya (NKT),
Tier-1 scale Nickel mine formerly operated by Norilsk Nickel.

 

A parallel business development strategy based on the Hydrogen Economy forms a
new development arm of the Company.

 

 

 

 

 

 

 

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