Enirgi Group Corporation Acquires Additional Common Shares in Ivernia Inc.


TORONTO, ON--(Marketwired - November 13, 2015) - Enirgi Group Corporation ("Enirgi Group") is pleased to announce that it has acquired an additional 1,978,066,713 common shares of Ivernia Inc. ("Ivernia"), an international lead metal mining company.

Enirgi Group has acquired ownership and control of 1,978,066,713 common shares representing approximately 68.94% of the presently issued and outstanding common shares of Ivernia (on a non-fully diluted basis). As a result of the acquisition, Enirgi Group owns and controls 2,441,538,658, or approximately 85.1% of the presently issued and outstanding, common shares of Ivernia (on a non-fully diluted basis).

On November 13, 2015, pursuant to an amalgamation (the "Amalgamation") under the Business Corporations Act (Ontario) between a wholly-owned subsidiary of Ivernia ("AcquireCo") and Geo Zone Exploration Limited ("Geo Zone"), AcquireCo acquired all of the outstanding common shares of Geo Zone for consideration consisting of 1,569,359,988 common shares of Ivernia issued at a deemed price of C$0.025 per common share of Ivernia. Enirgi Group, in its capacity as shareholder of Geo Zone, received 1,479,516,248 common shares of Ivernia as a result of the Amalgamation, which was approved by the shareholders of each of the parties to the Amalgamation.

The balance of the common shares of Ivernia acquired today by Enirgi Group were acquired pursuant to the terms of a conversion agreement (the "Conversion Agreement") dated November 13, 2015 between Ivernia and Enirgi Group. Pursuant to the terms of the Conversion Agreement, Enirgi Group converted an aggregate of approximately C$12.464 million of debt owed by Ivernia or its subsidiaries to Enirgi Group into 498,550,465 common shares of Ivernia at a deemed price of C$0.025 per share.

Enirgi Group has acquired the common shares of Ivernia for investment purposes, and may acquire further common shares of Ivernia, or dispose of its holdings of common shares of Ivernia, both as investment conditions warrant.

Ivernia is listed on the Toronto Stock Exchange under the trading symbol "IVW".

This press release has been issued by Enirgi Group in order to comply with applicable Canadian securities legislation.

About Enirgi Group

Enirgi Group is a private specialty chemicals and diversified industrials company which currently owns 85.1% of the outstanding common shares of Ivernia. Ivernia and its wholly-owned subsidiary, Rosslyn Hill Mining Pty Ltd, have each operated under a management services agreement with Enirgi Group and Enirgi Metal Group Pty Ltd., respectively, since December 2012.

For further information, including a copy of the early warning report required under applicable Canadian securities laws to be filed by Enirgi Group as a result of the transaction referred to in this press release, please contact:

Contact Information

Enirgi Group Corporation
Jessica Helm
VP, Corporate Communications
Suite 3001, 1 Adelaide Street East
Toronto, Ontario M5C 2V9
(416) 867 9298
Email: info@enirgi.com