Aim-listed Erris Resources’ enterprise investment scheme (EIS) status has been confirmed by the UK tax authority.
The EIS is a series of UK tax reliefs launched in 1994 in succession to the business expansion scheme. It is designed to encourage investments in small unquoted companies carrying on a qualifying trade in the UK.
Erris has zinc and other base metal projects in Ireland, and gold projects in Sweden.
Individual shareholders who invested as part of the company’s initial public offering in December can now take advantage of EIS tax relief benefits.