Euromax Announces Closing of Non-Brokered
Euromax Announces Closing of Non-Brokered
Private Placement
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/
VANCOUVER, BC
,
Jan. 24, 2023
/CNW/ -
Euromax
Resources
Ltd.
(TSX: EOX): (
Euromax
or
the
Company
) is pleased to announce that it has closed its previously announced non-brokered
private placement for gross proceeds of approximately
US$3,000,000 million
(the
Private
Placement
). Pursuant to the Private Placement, the Company has issued 101,250,000 units (the
Units
), with each Unit consisting of: (a) one (1) common share of the Company (each, a
Common
Share
), (b) one half (0.5) common share purchase warrant (each, an
A Warrant
), and (c) one half
(0.5) common share purchase warrant (each, a
B Warrant
, and together with an A Warrant, the
Warrants
). The Warrants are subject to adjustment upon certain customary events.
Each A Warrant is exercisable for one Common Share (each, an
A Warrant Share
) at an exercise
price of
C$0.075
for a period of two (2) years from the date of issuance, subject to the receipt of
the successful merger of the Ilovica 6 and Ilovica 11 exploitation concessions, and approval of the
Environmental Impact Assessment on the merged exploitation concessions. Each B Warrant is
exercisable for one Common Share (each, a
B Warrant Share
, and together with an A Warrant
Share, the
Warrant Shares
) at an exercise price of
C$0.125
for a period of two (2) years from the
date of issuance, subject to the receipt of the approval of the exploitation permit on the merged
exploitation concession for the Ilovica-Shtuka project. The Warrants, if exercised in full by the
holders thereof, would represent additional gross proceeds to the Company of approximately
C$10,125,000
.
The Common Shares, the Warrants and the Warrant Shares issued pursuant to the Private
Placement will be subject to a four month hold period from the date of closing in accordance with
applicable Canadian securities laws.
The securities described herein have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the "
U.S. Securities Act
"), or any state securities laws, and
accordingly, may not be offered or sold within
the United States
except in compliance with the
registration requirements of the U.S. Securities Act and applicable state securities requirements or
pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a
solicitation to buy any securities in any jurisdiction.
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 forward-looking information. Forward-looking statements include, but
are not limited to the continued advancement of the Company's general business plan and the
development of the Ilovica-Shtuka Project, and the receipt of all necessary government approvals
and consents. When used in this press release, the words "will", "shall", "anticipate", "believe",
"estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify
forward-looking statements. Although Euromax believes that their expectations reflected in these
forward looking statements are reasonable, such statements involve risks and uncertainties and no
assurance can be given that actual results will be consistent with these forward-looking statements.
Important factors that could cause actual results to differ from these forward-looking statements
include, but are not limited to, the ability to implement corporate strategies, the ability to obtain
financing as and when required and on reasonable terms, the risk that the development of the
Ilovica-Shtuka Project may not proceed as anticipated, including the inability to obtain necessary
government approvals for its activities in a timely manner, political or economic instability in the
jurisdiction in which the Ilovica-Shtuka Project is located, changes in national and local government
legislation, regulation, and taxation, and other risks disclosed in our filings made with Canadian
securities regulators available on SEDAR at
www.sedar.com
. This list is not exhaustive of the
factors that may affect any of Euromax's forward-looking statements. Investors are cautioned not to
put undue reliance on forward-looking statements. Forward-looking statements contained herein
are made as of the date of this news release and Euromax disclaims any obligation to update any
forward-looking statements, whether as a result of new information, future events or results or
otherwise, except as required by applicable securities laws.
The TSX does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE
Euromax Resources
View original content:
http://www.newswire.ca/en/releases/archive/January2023/24/c7344.html
%SEDAR: 00009131E
For further information:
Please visit www.euromaxresources.com or contact: Tim Morgan-Wynne,
Executive Chairman, +44 203 918 5160, [email protected].
CO: Euromax Resources
CNW 09:25e 24-JAN-23