TIDMBCN

RNS Number : 4780B

Bacanora Minerals Ltd

10 January 2018

Bacanora Minerals Ltd

('Bacanora' or the 'Company')

Exercise of Options

Bacanora, the Canadian and London listed (TSX-V: BCN and AIM: BCN) lithium exploration and development company focused on Sonora, Mexico, announces that the Company has issued 1,000,000 new common shares in the Company ('the New Common Shares') pursuant to the exercise of options by Fernan Pty Ltd, a consultancy wholly owned by Mark Hohnen, Executive Chairman of Bacanora Minerals. The options are being exercised at a price of GBPGBP0.77 per share for a total consideration of GBP770,000. Following this exercise, Mr Hohnen's beneficial interest in the Company's shares stands at 2,514,951 (1.9% of the Company's issued share capital).

Issue of Equity

Application will be made for the New Common Shares to be admitted to trading on AIM. Admission is expected to occur on or around 11 January 2018. These shares will rank pari passu with the existing common shares in issue. Following the issue of the shares outlined above, there will be 134,039,872 Common Shares in issue. This number may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company.

 
        Notification of a Transaction pursuant to Article 
         19(1) of Regulation (EU) No. 596/2014 
-----  ------------------------------------------------------------------------------------ 
 1         Details of the person discharging managerial 
            responsibilities/person closely associated 
---  ---  --------------------------------------------------------------------------------- 
 a.   Name                                         Mark Hohnen 
                                    ------------  ----------------------------------------- 
 2    Reason for notification 
---  -------------------------------------------------------------------------------------- 
 a.   Position/Status                              Executive Director / Chairman 
---  -----------------------------  ------------  ----------------------------------------- 
 b.   Initial notification/                        Initial Notification 
       Amendment 
---  -----------------------------  ------------  ----------------------------------------- 
 3         Details of the issuer, emission allowance 
            market participant, auction platform, auctioneer 
            or auction monitor 
     ---  --------------------------------------------------------------------------------- 
 a.   Name                                         Bacanora Minerals Ltd 
---  ---------------------------  --------------  ----------------------------------------- 
 b.   LEI                                          2138008OQE6GDZO3YD74 
---  ---------------------------  --------------  ----------------------------------------- 
 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                                  Common Shares of no par value 
      of the financial 
      instrument, 
      type of instrument 
 
      Identification 
      Code                                          CA05634Q1054 
---  ---------------------------  --------------  ----------------------------------------- 
 b.   Nature of                    Exercise of Share Options 
       the transaction 
---  ---------------------------  --------------------------------------------------------- 
 
 c.   Price(s) and                   Price(s)      Volume(s)        Date 
       volume(s) 
---  ---------------------------    ------------  ---------------  --------------- 
                                     GBP0.77       1,000,000        10 January 
                                                                     2018 
                                    ------------  ---------------  --------------- 
 
 d.   Aggregated 
       information 
 
       - Aggregated                  1,000,000 
       Volume 
                                     GBP0.77 
       - Price 
---  ---------------------------  --------------  ----------------------------------------- 
 e.   Date of the                  10 January 2018 
       transaction 
---  ---------------------------  --------------------------------------------------------- 
 f.   Place of the                 Off market 
       transaction 
---  ---------------------------  ---------------------------------------------------------

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

**ENDS**

 
 Bacanora Minerals      Peter Secker, CEO        info@bacanoraminerals.com 
  Ltd. 
---------------------  -----------------------  -------------------------- 
 Cairn Financial 
  Advisers LLP,         Sandy Jamieson/Liam                     +44 (0) 20 
  Nomad                  Murray                                  7213 0880 
---------------------  -----------------------  -------------------------- 
 Canaccord Genuity,     Martin Davison, James                   +44 (0) 20 
  Broker                 Asensio                                 7523 8000 
---------------------  -----------------------  -------------------------- 
 St Brides Partners, 
  Financial PR          Frank Buhagiar, Megan                   +44 (0) 20 
  Adviser                Dennison                                7236 1177 
---------------------  -----------------------  --------------------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

DSHGCGDBIUBBGIG

(END) Dow Jones Newswires

January 10, 2018 05:02 ET (10:02 GMT)

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