Corporate
Board
& Management
Board
An Experienced Corporate Board
25+ years experience at partner & board level with Deloitte and currently Director of Indian Ocean Corporate, a boutique corporate & investment banking firm in Australia & Mainland China.
30+ years experience in securities industry.
Vast experience in the junior explorer market and, in particular the capitalisation of these businesses.
Latin American experience includes working in the Senior Executive team at Escondida Copper Mine in Chile, and then as CEO of an ASX listed company, building a 3000tpd operating mine in Chile. More recently, he built a silver zinc and lead mine in Mexico and generated several projects in Mexico held within TSX and private portfolios.
Has provided company secretarial services for 10+ years to a number of listed entities. Previously worked for a corporate finance company, assisting with company compliance (ASIC and ASX) and capital raisings. Prior to that, worked for a major accounting firm in Perth, London and Sydney providing corporate advisory services and due diligence reviews.
Management
Executive Management Based in Country
Gonzalo is based in Lima and has more than 30 years’ experience in large and small companies leading exploration programs in Peru, Colombia, Bolivia and elsewhere. Gonzalo has extensive experience in Generating and managing projects through discovery and resource definition.
Steve has nearly 40 years of experience in exploration for large and small companies in several locations around the world. Steve held senior roles based in Lima with the Tier One Antamina copper-zinc mine, and then working with Teck Resources on the Zafranal project in Peru.
Giorgio is a partner of Albertini Abogados, a law firm with offices in Lima and Barcelona Spain.
Giorgio has 30 years of experience advising multinational mining companies on investment and management of projects in Peru.
Capital
Structure
| Shares On Issue | Share Price | Market Cap |
| Funding Commitment2 | Options3 | |
| A$25m (Sapphire Global Energy Fund, LLC) | 108m |
NOTES
- Investments include a 19.98% interest in ASX:BMM @ 01/06/2023 close price of A$0.225 (12,200,000 shares)
- Refer to ASX Announcement 7th Feb 2023 – EVR Secures $25M Investment Commitment
- Options are comprised of:
- EVRO : OPTION EXPIRING 31-AUG-2024: 108,333,332
Funding Commitment
The Company has entered into a agreement with Sapphire Global Energy Fund, LLC (Sapphire), for a $25 million investment commitment. Sapphire is a New York City-based alternative investment fund, managed by Obsidian Global Partners LLC, focused on providing growth-oriented capital to public and private companies globally. Terms of the equity placement agreement are as follows:
- Investment: $25 million via an equity drawdown facility.
- Term: The Company has the option to drawdown on the facility for 60 months commencing on 1 March 2023, or an earlier date agreed upon.
- Security Shares: The security provided to the Investor is 35 million shares to be issued prior to the first drawdown (Security Shares) which may be utilised to offset any drawdown.
- Placement Request: On drawdown of the facility, the Company is to send a Placement Request requiring either:
- an amount of securities for the Investor to purchase at the Placement Price. The number of securities to be purchased will be equal to the lower of:
- The number of securities requested;
- 30% of the total volume traded in the 10 trading days prior to each Placement Request;
- $2m divided by the Placement Price;
- The Available Facility Limited (being $25M less drawdowns completed) divided by the Placement Price;
- The Company’s available placement capacity under LR 7.1; and
- The number of Security Shares less the aggregate amounts of any reductions; or
- a placement amount (the “Requested Placement Amount”). The Requested Placement Amount will be the lesser of:
- the Requested Placement Amount;
- $250,000, which may be increased to $500,000 by mutual agreement;
- the Available Facility Limit (being $25M less drawdowns completed);
- the Placement Price multiplied by the total of Security Shares less the aggregate amount of any reductions to the Security Share number; and
- the Placement Price multiplied by the Company’s available capacity under Listing Rules 7.1.
- an amount of securities for the Investor to purchase at the Placement Price. The number of securities to be purchased will be equal to the lower of:
- Placement Price: The price of the drawdown will be 95% of the average of the lowest 3 daily VWAPs during the 11 trading days following the Placement Request being sent to the Investor (“Calculation Period”).
- Trading Restriction: The Investor agrees to not trade more than $25,000 worth of EVR shares or more than 20% of the relevant days’ volume (whichever is higher), in a single day. Where the number of shares has been specified in the Placement Request, then the Investor agrees not to sell in excess of 3m shares or 20% of the daily trading volume (whichever is greater) during the Calculation Period.
- Placement Conditions: The following conditions must be met prior to a Placement:
- The Shares are not suspended from trading on the ASX or subject to a trading halt.
- It has been at least 12 Trading Days since the immediately prior Placement Request Date, provided that this may be reduced to a lesser number of days by mutual agreement between the Investor and the Company.
- The Shares have not traded below A$0.008 per Share during any of the 10 prior Trading Days;
- The immediately prior Placement Request has Completed.
- No Event of Default has occurred.
- Facility Fee: 3% of the equity facility amount to be paid in cash or shares (at the Company’s election):
- 0.75% within 3 days of executing the Equity Placement Agreement. At the Company’s election this fee is payable by the issue of 7 million shares at an issue price of approximately $0.027 being an 80% premium to the Company’s current trading price;
- 0.75% upon first drawdown;
- 1.5% upon drawdown of 50% of the facility.
