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Dalradian receives $14.8 million from warrant exercises

Aug 02, 2017

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TORONTO, ONTARIO--(Marketwired - Aug. 2, 2017) - Dalradian Resources Inc. (TSX:DNA)(AIM:DALR) ("Dalradian" or the "Company") announces that 9,800,861 of Dalradian's common share purchase warrants originally issued on 31 July 2014 (the "July Warrants") at a price of C$1.50 were exercised between July 24, 2017 and July 31, 2017 for proceeds of $14,701,292 to the Company.

Overall, 10,333,211 of the July Warrants were exercised resulting in total proceeds of $15.5 million for the Company. Any unexercised July Warrants are now expired, and were delisted from the TSX exchange as of July 31, 2017.

Additionally, 49,500 of Dalradian's common share purchase warrants originally issued on 7 October 2015 (the "October Warrants") at a price of C$1.04 were exercised between July 21, 2017 and August 1, 2017 for proceeds of $51,480 to the Company.

The shares issued upon exercise of the July Warrants and the October Warrants were admitted for trading on the AIM market of the London Stock Exchange as part of the block admissions announced on 3 February 2015 and 23 September 2016 respectively.

Following the July Warrant and October Warrant exercises, the Company has in issue 264,181,458 Common Shares. This figure may be used by shareholders 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 Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

About Dalradian Resources Inc.

Dalradian Resources Inc. is a mineral exploration and development company that is focused on advancing its high-grade Curraghinalt Gold Project located in Northern Ireland, United Kingdom.

Contact Information:
Dalradian Resources Inc.
Marla Gale
Vice President Communications
+1 416 583 5600

Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / Richard Tonthat / Harrison Clarke
+44 (0)20 7383 5100

Canaccord Genuity Limited (Broker)
Henry Fitzgerald-O'Connor / Martin Davison
+44 (0)20 7523 8000