TORONTO, December 12, 2017 /Marketwired/ -- Dalradian Resources Inc. (TSX:DNA; AIM:DALR) ("Dalradian" or the "Company") announces that it has issued 216,165 common shares of no par value ("Common Shares") following the exercise of options on 7 December 2017 by three of its directors at an exercise price of $1.11. The Company also announces that is was notified on 11 December 2017 that a Director of the Company sold 60,000 shares on 7 December, 45,300 shares on 8 December and 59,700 shares on 11 December 2017.
Details of the exercise of options and sale of shares and resulting director shareholdings are shown in the table below.
| Directors | Stock options exercised* and number of Common Shares issued | Total stock options held following the exercise | Shares sold | Interest in enlarged issued share capital | % of enlarged share capital |
| Ron Gagel | 24,812 | 580,000 | Nil | 199,812 | 0.06% |
| Thomas Obradovich | 41,353 | 580,000 | Nil | 262,853 | 0.07% |
| Sean Roosen | 150,000 | 580,000 | 165,000 | 1,850,583 | 0.52% |
| Total | 216,165 | 1,740,000 | 165,000 | 2,313,248 | 0.65% |
* The options exercised were originally set to expire on August 7, 2017. However, the expiry date was extended, in accordance with the Company's Stock Option Plan, until 10 days after the Company's trading blackout was lifted on 29 November 2017. The exercises by Mr. Gagel and Mr. Obradovich used the cashless exercise option available under the Company's Stock Option Plan.
Following the grant, the total number of options under the Company's Stock Option Plan are 9,541,667.
Application has been made for the 216,165 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 15 December 2017 ("Admission").
Following Admission, the Company will have in issue 355,484,053 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 a 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 mineral exploration and development company that is focused on advancing its high-grade Curraghinalt Gold Project located in Northern Ireland, United Kingdom.
For more information:
Marla Gale
Vice President Communications
+1 416 583 5600
investor@dalradian.com
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / Richard Tonthat
+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: | Ronald Gagel |
| 2. | Reason for the notification | |
| a) | Position/status: | Director |
| 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: | 213800MHTI7RJG1B4M08 |
| 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 | Exercise of options to acquire common shares |
| c) | Price(s) and volume | 150,000 options exercised at $1.11, using the cashless exercise option under the Company's Stock Option Plan, to acquire 24,812 common shares |
| d) | Aggregated information | 150,000 options exercised at $1.11, using the cashless exercise option under the Company's Stock Option Plan, to acquire 24,812 common shares |
| e) | Date of the transaction | 7 December 2017 |
| 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: | Thomas Obradovich |
| 2. | Reason for the notification | |
| a) | Position/status: | Director |
| 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: | 213800MHTI7RJG1B4M08 |
| 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 | Exercise of options to acquire common shares |
| c) | Price(s) and volume | 250,000 options exercised at $1.11, using the cashless exercise option under the Company's Stock Option Plan, to acquire 41,353 common shares |
| d) | Aggregated information | 250,000 options exercised at $1.11, using the cashless exercise option under the Company's Stock Option Plan, to acquire 41,353 common shares |
| e) | Date of the transaction | 7 December 2017 |
| 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: | Sean Roosen |
| 2. | Reason for the notification | |
| a) | Position/status: | Director |
| 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: | 213800MHTI7RJG1B4M08 |
| 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 | Exercise of options to acquire common shares |
| c) | Price(s) and volume | 150,000 options exercised at $1.11 to acquire 150,000 common shares |
| d) | Aggregated information | 150,000 options exercised at $1.11 to acquire 150,000 common shares |
| e) | Date of the transaction | 7 December 2017 |
| 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: | Sean Roosen |
| 2. | Reason for the notification | |
| a) | Position/status: | Director |
| 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: | 213800MHTI7RJG1B4M08 |
| 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 | Disposition of Common Shares |
| c) | Price(s) and volume | 60,000 shares at $1.2552 45,300 shares at $1.2572 59,700 shares at $1.2708 |
| d) | Aggregated information | 165,000 shares at $1.2614 |
| e) | Date of the transaction | 11 December 2017 |
| f) | Place of the transaction | Toronto Stock Exchange |