Euromax Announces Intention to Extend Maturity Dates of Previously Issued Convertible Debentures
Euromax Announces Intention to Extend
Maturity Dates of Previously Issued
Convertible Debentures
TSXV: EOX
www.euromaxresources.com
VANCOUVER, BC
,
Feb. 10, 2025
/CNW/ -
Euromax Resources Ltd.
(TSXV: EOX): ("
Euromax
" or
the "
Company
") announces that the Company intends to amend certain terms of its previously
issued convertible debentures, which were issued to: i) the European Bank for Reconstruction and
Development ("
EBRD
") in the aggregate principal amount of
USD$5,000,000
(as amended from time
to time, the "
EBRD Debenture
"); and ii) CC Ilovitza Limited ("
CCC
"), an affiliate of Consolidated
Contractors Company Group, in the aggregate principal amount of
CAD$5,200,000
(as amended
from time to time, the "
CCC Debenture
", and collectively with the EBRD Debenture, the
"
Convertible Debentures
").
Specifically, Euromax intends to enter into agreements with EBRD and CCC to extend the maturity
dates of the Convertible Debentures from
February 28, 2025
to
February 28, 2026
(the "
Proposed
Amendments
").
The Proposed Amendments are not intended to make any changes to the conversion price
applicable to principal under the convertible debentures (
$0.15
per share) or to the applicable
interest rate (20% for the period from and including
April 30, 2018
to and excluding
March 31, 2019
and 7% for the period from and including
March 31, 2019
to and excluding
February 28, 2026
).
In completing the Proposed Amendments, the Company is relying on the exemptions from the formal
valuation and minority approval requirements in Multilateral Instrument 61-101 –
Protection of
Minority Security Holders in Special Transactions
("
MI 61-101
") contained in sections 5.5(e) and
5.7(1)(c) of MI 61-101, respectively.
The Proposed Amendments are subject to acceptance by the TSX Venture Exchange and other
approvals.
Neither the TSX Venture Exchange nor its regulation services provider accepts responsibility for
the adequacy or accuracy of this news release.
About Euromax Resources Ltd.
Euromax has a major development project in
North Macedonia
and is focused on building
and operating the Ilovica-Shtuka gold-copper project.
Forward-Looking Information
This news release contains statements that are forward-looking, such as those relating to the
intentions of the Company with respect to the Proposed Amendments and its ability to execute such
Proposed Amendments, acceptance by the TSX Venture Exchange of the Proposed Amendments,
and any additional number of Common Shares which may be issuable to the holders of the
Convertible Debentures in connection with the Proposed Amendments. Forward-looking statements
are frequently characterised by words such as "plan", "expect", "project", "intend",
"believe", "anticipate" and other similar words, or statements that certain events or conditions "may"
or "will" occur. Forward-looking statements are based on the opinions and estimates of management
at the dates the statements are made, and are subject to a variety of risks and uncertainties
and other factors that could cause actual events or results to differ materially from those projected in
the forward-looking statements. This information is qualified in its entirety
by cautionary statements and risk factor disclosure contained in filings made by the Company,
including its annual information form for the year ended
December 31, 2023
and financial statements
and related MD&A for the financial years ended
December 31, 2023
and 2022, and the unaudited
condensed consolidated interim financial statements for the three and nine months ended
September
30, 2024
and 2023 along with the accompanying MD&A, filed with the securities regulatory
authorities in certain provinces of
Canada
and available on SEDAR+ at
sedarplus.ca
. The forward-
looking statements contained in this document are as of the date of this document, and are subject
to change after this date. Readers are cautioned that the assumptions used in the preparation of
such information, although considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Euromax disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise, unless required by
applicable law.
SOURCE
Euromax Resources Ltd.
View original content:
http://www.newswire.ca/en/releases/archive/February2025/10/c8119.html
%SEDAR: 00009131E
For further information:
For more information, please visit www.euromaxresources.com or
contact: Tim Morgan-Wynne, Executive Chairman, +44 20 3918 5160,
CO: Euromax Resources Ltd.
CNW 08:16e 10-FEB-25