12 Aug 2016 07:00
12 August 2016
Tethyan Resources plc
("Tethyan" or the "Company")
Gokcanica option agreement - issue of equity
Further to the announcements dated 5 July 2016 and 22 July 2016, the Company announces that application has been made for 1,166,666 ordinary shares in the capital of the Company ("New Ordinary Shares") to be admitted to trading on AIM ("Admission") in relation to the option agreement signed with Rockstone Group LLC ("Rockstone") pursuant to which Tethyan can earn up to an 80% interest in the Gokcanica project licenses in Southern Serbia.
833,333 of the New Ordinary Shares will be issued to the owners of Pure Nature Limited who had an option over the Gokcanica licenses prior to Tethyan signing the option agreement with Rockstone and the remaining 333,333 New Ordinary Shares will be issued to Rockstone.
It is expected that Admission will occur and dealings will commence in the New Ordinary Shares on 17 August 2016. The New Ordinary Shares will rank pari passu with the existing ordinary shares in issue. Following Admission there will be 90,359,829 ordinary shares in issue and this figure may be used by shareholders in the Company 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 share capital of the Company.
For further information please contact:
Tethyan Resources plc
Peter Mullens (CEO) pjm@tethyan-resources.com
finnCap Limited - Nominated adviser
Christopher Raggett / Scott Mathieson +44 (0)20 7220 0500
ABOUT TETHYAN RESOURCES
Tethyan Resources PLC is an AIM listed junior exploration company exploring for copper and gold within the Tethyan mineral belt. Tethyan has an experienced board and technical team headed up by Chris Goss previously leader in project finance for emerging markets for the IFC, International Finance Corporation. The company is well funded in a difficult market. Currently they hold several licenses in Serbia and are looking for other Copper Gold projects in Eastern Europe, specifically Serbia and Bulgaria.