Tethyan Closes C$5 Million Underwritten Private Placement





April 17, 2019 – Toronto, Canada – Tethyan Resources plc (TSXV: TETH) (“Tethyan” or the “Company”) announces the closing of its underwritten private placement, announced on March 28, 2019, of 6,250,000 ordinary shares (“Shares”) at a price of C$0.80 per Share, for aggregate gross proceeds of C$5,000,000 (the “Offering”). The Offering was conducted by a syndicate of underwriters led by TD Securities Inc. (the “Underwriters”).

The Offering was subscribed to by JP Morgan Asset Management U.K. and Augusta Investments Inc. (“Augusta”), a private company beneficially owned by Richard Warke, the Company’s Executive Chairman. Augusta’s subscription brings Mr. Warke’s post-closing beneficial ownership to 15.94% of the Company. Tethyan paid a 5.0% cash commission to the Underwriters. The Shares issued in connection with the Offering are subject to a statutory hold period expiring on August 18, 2019.

The net proceeds from the Offering will be used primarily to fund the planned advancement of the Rudnica copper-gold project and Kizevak zinc-lead-silver project located in Serbia.

The Company will file a material change report in relation to the foregoing “related party transaction” with Richard Warke on the Canadian System for Electronic Document Analysis and Retrieval (“SEDAR”) under the Company’s profile at www.sedar.com. The Company did not file the material change report more than 21 days prior to the closing of the transaction due to the timing of the announcement and closing occurring in less than 21 days.


About Tethyan

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.tethyanresources.com.


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

Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the private placement, the use of proceeds, the filing of a material change report and the Company’s exploration program. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will”. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Tethyan to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals; the size of the exploration program; capital expenditures and other costs; and additional capital requirements. Although management of Tethyan has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. Tethyan will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.