Lloyd I. Miller, III Acquires Additional Common Shares of Southern Arc Minerals Inc.

WEST PALM BEACH, Fla., Sept. 06, 2017 (GLOBE NEWSWIRE) -- On September 5, 2017, Lloyd I. Miller, III acquired ownership, control or direction over 47,500 common shares ("Common Shares") of Southern Arc Minerals Inc. ("Southern"), representing an increase in Mr. Miller's securityholding percentage of approximately 0.30% of the outstanding Common Shares on a partially diluted basis taking into account only the outstanding Common Shares, as reported by Southern, and the Common Shares and Common Share purchase warrants ("Warrants") owned or controlled by Mr. Miller and no others.  Mr. Miller acquired the foregoing Common Shares through Lloyd I. Miller Trust A-4 (“Trust A4”), a trust in respect of which Miller has discretionary investment management authority.     

Prior to the acquisition, Mr. Miller acquired ownership, control or direction over 274,500 Common Shares through Trust A4, bringing his ownership, control or direction to 2,195,500 Common Shares and 575,000 Warrants, representing an increase in Mr. Miller's securityholding percentage from 15.83%, as previously reported, to 17.67% of the outstanding Common Shares on a partially diluted basis taking into account only the outstanding Common Shares, as reported by Southern, and the Common Shares and Warrants owned or controlled by Mr. Miller and no others. 

Immediately after the acquisition, Mr. Miller, through Trust A4 and other entities, had ownership, control or direction over an aggregate of 2,243,000 Shares and 575,000 Warrants, representing approximately 17.97% of the outstanding Common Shares on a partially diluted basis taking into account only the outstanding Common Shares, as reported by Southern, and the Common Shares and Warrants owned or controlled by Mr. Miller and no others.

The Common Shares were acquired through the facilities of the TSX Venture Exchange at a price of US$0.5908 per Common Share, which based on the Bank of Canada daily exchange rate on September 5, 2017 equals approximately CDN$0.7309 per Common Share for a total consideration of approximately CDN$34,717.

The Common Shares were acquired for investment purposes. Depending on the evolution of Southern's business, financial condition, the market, if any, for Southern's securities, general economic conditions and other factors, Mr. Miller and his joint actors may acquire additional securities of Southern, or sell some or all of the securities they hold, in the open market, by private agreement or otherwise, subject to their availability at attractive prices, market conditions and other relevant factors.

For inquiries or a copy of the related early warning report, a copy of which will be filed on www.sedar.com under Southern's profile, please contact: