Euromax Announces Proposed Private Placement
Euromax Announces Proposed Private
Placement
TSXV: EOX
www.euromaxresources.com
VANCOUVER, BC
,
Aug. 6, 2024
/CNW/ -
Euromax Resources Ltd.
(TSXV: EOX): ("
Euromax
" or
the "
Company
"), announces today a non-brokered private placement of 3,479,365 units of the
Company (the "
Units
"), each Unit consisting of one common share in the capital of the Company
(each, a "
Common Share
") and one Common Share purchase warrant (each, a "
Warrant
"), at an
offering price of
C$0.02
per Unit for aggregate gross proceeds of approximately
C$69,587
pursuant
to a non-brokered private placement (the "
Offering
"). Each Warrant will entitle the holder to acquire
one Common Share at an exercise price of
C$0.05
per Common Share for a period of five years
following the closing of the Offering.
The proposed use of the gross proceeds from the issuance of the Units is expected to be as
follows:
i. Office, administration and communications costs – 35%
ii. Salaries – 28%
iii. Legal & administrative fees – 26%
iv. Project working capital – 6%
v. Tax, audit & accounting fees – 5%
Other than as disclosed above, no proceeds of the Offering will be used to fund payments to non
arm's length parties or to persons conducting Investor Relations Activities within the meaning of the
policies of the TSX Venture Exchange (the "
TSXV
").
None of the Units will be distributed to insiders of the Company and the Offering is not expected to
materially affect control of the Company.
Closing of the Offering is subject to acceptance by the TSXV of the terms of the Offering and other
customary closing conditions. In addition to any applicable resale restrictions under Canadian
securities laws, all securities issued under the Offering will be subject to a four month resale
restriction imposed by the TSXV. There can be no assurances that the Offering will be completed on
the terms set out herein, or at all, or that the proceeds of the Offering will be sufficient for the
intended uses of proceeds as set out above.
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
completion of the Offering, the acceptance of the TSXV, and the proposed uses of (including
sufficiency for such uses) the proceeds of the Offering. 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, as well as its interim financial statements for the three months ended
March 31, 2024
and 2023 and related MD&A for the three months ended
March 31, 2024
, 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. Neither the TSXV nor its regulation services provider accepts
responsibility for the adequacy or accuracy of this news release.
SOURCE
Euromax Resources Ltd.
View original content:
http://www.newswire.ca/en/releases/archive/August2024/06/c2220.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 07:55e 06-AUG-24