Victoria, British Columbia (FSCwire) - Erin Ventures Inc. ("Erin") [TSXV: EV] is pleased to announce that it has completed the following private placements previously announced on October 26, 2016: (a) a non-brokered private placement of 7,001,500 units (“Units”) at a price of $0.05 per Unit for gross proceeds of $350,075 (the “Unit Private Placement”); and (b) a non-brokered private placement of $50,000 of unsecured convertible debentures (“Debentures”) at an interest rate of 12 % per annum, to be paid semi-annually in in arrears (each, an “Interest Payment”), maturing on June 1, 2019 (the “Maturity Date”) (the “Debenture Private Placement”, together with the Unit Private Placement, the “Private Placements”).

Pursuant to the terms of the Unit Private Placement, each Unit is comprised of one (1) common share (“Common Share”) and one (1) Common Share purchase warrant (“Unit Warrant”).  The Warrants are exercisable for three (3) years at a price of $0.10 in the first year, $0.20 in the second year and $0.30 in the third year.

The Unit Warrants also have an acceleration clause whereby if the Common Shares trade on the TSXV at a price equal or greater than the designated trigger price for more than twenty (20) consecutive trading days, Erin shall have the right to give written notice to the holder requiring the holder to exercise the Warrant, in whole or in part, within a period of thirty (30) days from the date of receipt of notice from Erin.

For the Debentures, each Interest Payment is comprised of 50% cash and 50% common shares of Erin, subject to the right of each Debenture holder to elect to have an Interest Payment satisfied entirely in common shares. The price of the common shares to be issued to satisfy each Interest Payment will be subject to a minimum price of $0.06, determined by the greater of: (i) the volume-weighted average trading price of the common shares of Erin for the 10 trading days preceding each Interest Payment due date; or (ii) the Discounted Market Price (as such term is defined in the TSX Venture Exchange Corporate Finance Manual) of the common shares at the time of issuance (the "Market Price").

At the option of each Debenture holder, the principal may be converted (in whole or in part) into units of Erin, once every twelve months. Each unit is comprised of one common share and one common share purchase warrant (“Debenture Unit”). The formula used to determine the number of Debenture Units to be issued upon conversion and the price per Debenture Unit (the "Debenture Unit Price") will be as set out below, subject to a minimum Debenture Unit Price of $0.10 after the first year following the issuance of the Debenture:

1. if the Market Price is $0.10 or less, the Debenture Unit Price will be equal to the Market Price less 20%, subject to a minimum price of $0.06;
2. if the Market Price is between $0.11 and $0.50, the Debenture Unit Price will be equal to the Market Price less 10%; and
3. if the Market Price is greater than $0.50, the Debenture Unit Price will be equal to the Market Price less 5%.

Each common share purchase warrant issued as part of the Debenture Unit is exercisable for a 1 year period into one common share at a 50% premium to the Debenture Unit Price, subject to a minimum exercise price of $0.10 (each a, “Debenture Warrant”).

The principal amount held by a debenture holder cannot be converted if, post conversion, the holder, together with any person, entity or company acting jointly or in concert with such holder, would in the aggregate own, or result in a Control Person (as such term is defined in the TSX Venture Exchange Corporate Finance Manual) or have direction over that number of voting securities of Erin which is equal to 20% or greater of the total issued and outstanding securities of Erin.

The Debentures are not listed on any stock exchange and there is not a market for the Debentures. In accordance with applicable securities laws, the common shares issued as the result of Interest Payments and/or conversion of principal will be subject to a four month hold period and required regulatory approvals. Also the Common Shares and Unit Warrants comprising the Units are subject to a four-month and one day hold period in accordance with the policies of the TSXV and applicable securities legislation.

The net proceeds from the Private Placements will be used to fund further development of its wholly owned Piskanja boron project in Serbia, and for working capital purposes.

This offering was carried on a private placement basis pursuant to prospectus exemptions of applicable securities laws and is subject to acceptance by the TSX Venture Exchange. Three arm’s length finders are to be paid finders’ fees for an aggregate total of $13,937.50 in accordance with the rules of the TSX Venture Exchange Corporate Finance Manual.

On behalf of the Board of Directors,

Blake Fallis, General Manager

About Erin Ventures

Erin Ventures Inc. is an international mineral exploration and development company with boron assets in Serbia and gold assets in North America. Headquartered in Victoria, B.C., Canada, Erin's shares are traded on the TSX Venture Exchange under the symbol "EV". For detailed information please see Erin's website at www.erinventures.com or the Company's filed documents at www.sedar.com.

Piskanja is a high-grade boron deposit with a NI 43-101 compliant mineral resource of 5.6 million indicated tonnes (30.8% B₂O₃), in addition to 6.2 million inferred tonnes (28.8% B₂O₃).

For further information, please contact:                                        Erin’s Public Quotations:

Erin Ventures Inc.                                                                        Canada

Blake Fallis, General Manager                                                        TSX Venture: EV

Phone: 1-250- 384-1999 or 1-888-289-3746                                  USA

www.erinventures.com                                                                   SEC 12G3-2(B) #82-4432

645 Fort Street, Suite 203                                                              OTCBB: ERVFF
Victoria BC V8W1G2                                                                     Europe         
Canada                                                                                          Berlin Stock Exchange: EKV

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To follow Erin Ventures Inc. on your favorite social media platform or financial websites, please click on the icons below.

Maximum News Dissemination by FSCwire. http://www.fscwire.com

Copyright © 2016 Filing Services Canada Inc.