/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR
DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./
VANCOUVER, July 3, 2018 /CNW/ - Southern Arc Minerals
Inc. (TSXV: SA) ("Southern Arc" or the "Company")
is pleased to announce that it has purchased 1,600,000 units in
Tethyan Resources plc (TSXV: TETH) ("Tethyan") at a price of
C$0.25 per unit for an aggregate
purchase price of C$400,000 by way of
private placement (the "Acquisition"). Each unit is
comprised of one ordinary share and one-half of one transferable
share purchase warrant of Tethyan. Each whole warrant is
exercisable into one ordinary share of Tethyan at an exercise price
of C$0.35 per share until
June 28, 2021.
Southern Arc now owns 22.53% of the issued and outstanding
ordinary shares of Tethyan, on an undiluted basis. This
incorporates the Acquisition and the dilution incurred under the
Taor transaction, see Tethyan news release dated July, 03, 2018.
The private placement by Southern Arc is a "related party
transaction" within the meaning of Multilateral Instrument 61-101
Protection of Minority Security Holders in Special
Transactions ("MI 61-101") by virtue of Southern Arc
being a "control person" of Tethyan. The private placement is
exempt from the formal valuation requirements of MI 61-101 pursuant
to section 5.5(b) thereof and is exempt from the minority
shareholder approval requirements by virtue of section 5.7(1)(a)
thereof.
About Tethyan
Tethyan Resources plc is a gold and base
metal mineral exploration company incorporated in England & Wales. Tethyan is focused on the Tethyan
Metallogenic Belt in Eastern
Europe, mainly Serbia, where it is acquiring and exploring a
portfolio of quality precious and base metals projects with known
mineralisation and compelling drill targets. Tethyan emphasises
responsible engagement with local communities and stakeholders, and
is committed to proactively implementing Good International
Industry Practice (GIIP) and sustainable health, safety and
environmental management. More information is available at
www.tethyan-resources.com or by email at
info@tethyan-resources.com.
About Southern Arc
Southern Arc is a Canadian company
focused on enhancing shareholder value through strategic
investments in mineral resource companies with a focus on gold and
copper-gold. Southern Arc's management team identifies highly
prospective assets in politically safe jurisdictions and seeks to
unlock their value by providing strategic investments, proven
technical skills, global knowledge, and increased access to
industry relationships. More information is available at
www.southernarcminerals.com or by email at
info@southernarcminerals.com.
On behalf of the Board of Southern Arc Minerals Inc.
"John Proust"
Chairman & CEO
Cautionary Note
Neither the TSX Venture
Exchange nor its Regulation Services Provider (as such term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE Southern Arc Minerals Inc.