Euromax Announces Merger Approval
Euromax Announces Merger Approval
VANCOUVER, BC
,
July 5, 2023
/CNW/ - (TSX: EOX): ("
Euromax
" or the "
Company
") announces
that the Government of the Republic of
North Macedonia
(the "
Government
") has issued its
approval of the merger of the Company's Ilovica 6 and Ilovica 11 exploitation concessions, based on
the announcement in the Official Gazette no. 141. The Government has now passed this matter to
the Ministry of Economy to achieve a constructive outcome in relation to the new merged
concession. The new merged concession will only be valid upon signature of the annex implementing
this decision.
Tim Morgan-Wynne
, Executive Chairman, stated:
"The Company appreciates the decisive action
taken by the Government of the Republic of
North Macedonia
and now looks forward to finalising
the new agreement with the relevant State institutions."
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
Company's potential courses of action in response to recent decisions by agencies of the
government of
North Macedonia
, including potential legal appeals to other courts of applicable
jurisdiction in
North Macedonia
or the pursuit of international arbitration processes; the results of
any such appeals or legal processes that may be pursued by the Company, if any; any future
decisions, whether by way of appeal or otherwise, of any agency of the government of
North
Macedonia
or of any court of applicable jurisdiction; whether or not any decision of any agency of
the government of
North Macedonia
or of any court of applicable jurisdiction would be favourable
to the Company's interests; whether or not any decision of an agency of the government of
North
Macedonia
or of any court of applicable jurisdiction that was favourable to the Company's interests
would be implemented by applicable government authorities or could otherwise be enforced by the
Company; potential investments in the Ilovica-Shtuka Project, with or without the support of any of
the Company's current or future third-party investors; the potential impact of any investment by the
Company or any third-party investor on the development of the Ilovica-Shtuka Project; the effect of
the development of the Ilovica-Shtuka Project on the economy of
North Macedonia
, including the
number of jobs which may be produced in connection therewith; the results of operations and
financial condition of the Company; permitting and licensing matters related to the Ilovica-Shtuka
Project; capital spending by the Company; financing sources available to the Company, including
from any current or future third-party investors in the Company; commodity prices; mineral
resources; and property evaluation plans and programmes. 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, 2022
and financial statements and related
MD&A for the financial years ended
December 31, 2022
and 2021, and the unaudited condensed
consolidated interim financial statements for the three months ended
March 31, 2023
and 2022
along with the accompanying MD&A, filed with the securities regulatory authorities in certain
provinces of
Canada
and available on SEDAR. 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, except as otherwise required by applicable law.
SOURCE
Euromax Resources
View original content:
http://www.newswire.ca/en/releases/archive/July2023/05/c9526.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
CNW 17:01e 05-JUL-23