Euro Sun Announces Closing of Private Placement With Orion Mine Finance
Euro Sun Announces Closing of Private Placement With Orion Mine Finance
NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES
TORONTO, Nov. 08, 2018 -- Euro Sun Mining Inc., (TSX: ESM) (“Euro Sun” or the “Company”) is pleased to announce that it
has closed its previously announced non-brokered private placement financing by issuing 4,333,333 common shares of the
Company at a price of C$0.60 per common share for gross proceeds of US$2.0 million (equivalent to C$2.6 million at the
exchange rate of US$1.00 to C$1.30) with Orion Mine Finance Fund II LP (the “Offering”).
The gross proceeds of the Offering will be used for general corporate purposes and for the advancement of its Rovina Valley
Project. The common shares will be subject to a four month hold period that expires on March 9, 2019. Closing of the Offering
is subject to receipt of regulatory approval, including final Toronto Stock Exchange approval. No finder fees were paid in
connection with the Offering.
Pursuant to the Offering, Orion shall have the right to nominate one individual to the Euro Sun board of directors so long as
Orion holds more than 5% of the issued and outstanding common shares of the Company. In connection with this right, the
Company is pleased to announce that Mr. Michael Barton, a partner with Orion Resource Partners (“Orion”) will be joining the
Board of Directors. Mr. Barton is based in London.
Mr. Barton is a Portfolio Manager at Orion, a mining-focused investment business with approximately US$4.7 billion under
management (as at June 30, 2018), which provides flexible capital investment solutions to mining companies in the base and
precious metals sector. Orion has demonstrated capability in debt, equity, and production-linked investments, such as
streams, offtakes and royalties and is recognised as one of the leaders in mining finance. Prior to Orion, Mr. Barton was Chief
Executive Officer of Pala Investments, a mining‐focused investment company based in Zug, Switzerland, and prior to that, was
Vice President at Hatch Corporate Finance (now HCF International Advisers), a mining and metals ‐focused corporate finance
boutique. Mr. Barton holds a First Class Honours degree in Geography from the University of Leicester and is a qualified
chartered accountant (ICAEW).
This press release is not an offering of securities for sale in the United States. The common shares of the Company have not
been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States
absent registration or an exemption from the registration requirements of that Act.
About Euro Sun Mining Inc.
Euro Sun is a Toronto Stock Exchange listed mining company focused on the exploration and development of its 100%-owned
Rovina Valley gold and copper project located in west-central Romania, which hosts the second largest gold deposit in
Europe.
Further information:
For further information about Euro Sun Mining, or the contents of this press release, please contact Investor Relations at
[email protected] or +1 416.309.4299.
Caution regarding forward-looking information:
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation.
Forward-looking information includes, without limitation, statements regarding the Offering and use of proceeds of the Offering
and the appointment of a new director. Forward-looking information is subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining
industry and risks described in the public disclosure of the Company which is available under the profile of the Company on
SEDAR at www.sedar.com and on the Company's website at www.eurosunmining.com. Although the Company has attempted
to identify important factors that could cause actual results to differ materially from those contained in forward-looking
information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that such information will prove to be accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
The Company does not undertake to update any forward-looking information, except in accordance with applicable securities
laws.
The TSX does not accept responsibility for the adequacy or accuracy of this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United
States. The securities 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 may not be offered or sold within the United States or to, or for the
account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable
exemption from such registration requirements.