Dalradian announces Director Dealing and Option Exercise
TORONTO, ONTARIO -- (Marketwired - January 4, 2017) - Dalradian Resources Inc. (TSX: DNA/AIM: DALR) ("Dalradian" or the "Company") announces that 300,000 restricted share units ("RSUs") held by Patrick F. N. Anderson and 300,000 RSUs held by Keith McKay matured on 29 December 2016. Mr. Anderson and Mr. McKay have each been allotted 300,000 common shares of no par value ("Common Shares") for nil consideration. Mr. Anderson now holds 4,216,361 Common Shares and 481,000 RSUs, representing 1.73% of the issued share capital of the Company. Mr. McKay now holds 623,500 Common Shares and 176,000 RSUs, representing 0.26% of the issued share capital of the Company.
In order to receive these shares, Messrs. Anderson and McKay each remitted to the Company $182,239 to cover the taxes associated with these grants to prevent the necessity to sell shares.
The Company also announces that a total of 90,000 common shares of no par value (the "Stock Options") were issued following an exercise of options by an employee on 16 December 2016 at an exercise price of C$0.67.
Further to the RSUs maturing and the exercise of options, application has been made for 690,000 Common Shares, which rank pari passu with the existing Common Shares in issue, to be admitted to trading on AIM and admission is expected to occur at 8:00am on or around 10 January 2017 (the "Admission").
Following the Admission, the Company will have in issue 243,324,776 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 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 gold exploration and development company that is focused on advancing its high-grade Curraghinalt Gold Project located in Northern Ireland, United Kingdom. The Company is completing a work program in support of a planning (permitting) application for construction of an operating mine at Curraghinalt. Completed components of the program include a feasibility study and underground exploration (960 metres of development with associated test stoping). An environmental and social impact assessment, which is nearing completion, will also form part of the planning application.
In May 2016, Dalradian announced an updated Mineral Resource estimate for Curraghinalt, including a 109% increase in gold ounces contained in the Measured and Indicated categories compared with the 2014 resource. The current Mineral Resource consists of 2.1 million ounces of contained gold in the Measured and Indicated categories (5.61 million tonnes at 11.61 g/t) and 2.3 million ounces of contained gold in the Inferred category (7.13 million tonnes at 10.06 g/t gold). For further information, see the 2016 Technical Report.
For more information:
Marla Gale
Vice President Communications
+1 416 583 5622
investor@dalradian.com
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
DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name: | Patrick F. N. Anderson |
| 2. | Reason for the notification | |
| a) | Position/status: | President and CEO |
| b) | Initial notification/Amendment: | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name: | Dalradian Resources Inc. |
| b) | LEI: | N/A |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) |
Description of the financial instrument, type of instrument
Identification Code |
Common Shares of no par value
ISIN: CA2354991002 |
| b) | Nature of the transaction | Maturing restricted share units |
| c) | Price(s) and volume | 300,000 restricted share units redeemed as common shares for nil cost. |
| d) | Aggregated information | N/A |
| e) | Date of the transaction | 29 December 2016 |
| f) | Place of the transaction | Outside a trading venue |
DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name: | Keith McKay |
| 2. | Reason for the notification | |
| a) | Position/status: | CFO |
| b) | Initial notification/Amendment: | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name: | Dalradian Resources Inc. |
| b) | LEI: | N/A |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) |
Description of the financial instrument, type of instrument
Identification Code |
Common Shares of no par value
ISIN: CA2354991002 |
| b) | Nature of the transaction | Maturing restricted share units |
| c) | Price(s) and volume | 300,000 restricted share units redeemed as common shares for nil cost. |
| d) | Aggregated information | N/A |
| e) | Date of the transaction | 29 December 2016 |
| f) | Place of the transaction | Outside a trading venue |
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Dalradian Resources Inc. via GlobeNewswire
