Tethyan Announces Authorization of Redomiciling to Canada

TETHYAN ANNOUNCES AUTHORIZATION OF REDOMICILING TO CANADA

 

July 15, 2019 – Toronto, Canada – Tethyan Resources plc (TSX-V: TETH) (“Tethyan” or the “Company”) announces that the order of the High Court of Justice in England and Wales, which sanctions the scheme of arrangement (the “Scheme”) for the redomiciling of the Company to British Columbia, Canada, has been delivered to the UK Registrar of Companies. With the delivery of the order, the Scheme has become effective, and implementation is underway.

The record date for determining the shareholders entitled to receive shares of the British Columbia-incorporated company, Tethyan Resource Corp. (“New Tethyan”), will be July 17, 2019. Trading in Tethyan’s shares will be halted on July 18, 2019, and common shares in New Tethyan will be distributed that day. The shares in New Tethyan will commence trading on the TSX Venture Exchange at the open of markets on July 19, 2019. The trading symbol has not changed. New Tethyan will trade under the symbol TETH.

Shareholders do not need to take any action with respect to the issuance of the shares of New Tethyan. New Tethyan’s transfer agent will automatically send shareholders a new Direct Registration System (“DRS”) Advice representing the shares of New Tethyan to which each shareholder is entitled, and shares held through CDS will automatically be settled electronically within CDS. Shares held through CREST on the UK Register will be removed from CREST, and such shareholders will receive a DRS Advice from New Tethyan’s transfer agent. For additional details regarding the settlement procedure, shareholders may consult the Scheme Circular dated June 3, 2019, which can be found on the Company’s website at www.tethyan-resources.com.

The terms and expressions in this news release shall have the same meaning as given to them in the Scheme Circular, unless otherwise defined above.

 

About Tethyan Resources

Tethyan Resources plc, a member of the Augusta Group of Companies, is a precious and base metals mineral exploration company incorporated in England & Wales and listed on the TSX Venture Exchange. 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 mineralization and compelling drill targets. Tethyan emphasizes responsible engagement with local communities and stakeholders, and is committed to the proactive implementation of Good International Industry Practice (GIIP) and sustainable health, safety and environmental management. More information can be found on Tethyan’s website:    www.tethyan-resources.com.

Contact

Tethyan Resources plc

+44 1534 881 885

Jerrold Annett, Chief Executive Officer

+1 416 366 5678 Ext. 207 | jerrold@tethyan-resources.com

Jacqueline Allison, Vice President, Investor Relations and Strategic Analysis

+1 416 366 5678 Ext. 205 | jacqueline@tethyan-resources.com

TSX Venture Exchange Disclaimer

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.

Forward-Looking Statements

This announcement may contain certain forward-looking statements. These forward-looking statements include all matters that are not historical facts. These forward-looking statements involve risks and uncertainties that could cause the actual results of operations, financial condition, prospects and the development of the sector in which Tethyan operates to differ materially from the impression created by these forward-looking statements. Tethyan does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Do not place undue reliance on forward-looking statements, which speak only as of the date of this news release.