Euro Sun Mining Announces $3.1 Million Brokered Private Placement
EURO SUN MINING ANNOUNCES $3.1 MILLION BROKERED PRIVATE
PLACEMENT
June 24, 2019
Toronto, Ontario
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
Euro Sun Mining Inc ., (TSX: ESM) (“Euro Sun” or the “ Company”) is pleased to a nnounce
that it has entered into an agreement with PI Financial Corp. (the “ Agent”) in connection with a
private placement of up to 8,610,000 units of the Company (the “Units”) at a price of C$0.36 per
Unit for gross proceeds to the Compa ny of up to approx imately C$3.1 million (the “ Offering”).
Each Unit will consist of one common share of Euro Sun and one common share purchase
warrant of Euro Sun (“ Warrant”). Each Warrant will be exercisable to acquire one common
share of Euro Sun at a price of C$0.47 per share for 24 months from the closing of the Offering.
The Company intends to use the proceeds from the Offering for the advancement of its Rovina
Valley Project and for general corporate purposes.
The Company will pay a cash commission to the Agent of 7% of the gross proceeds of the
Offering. The Company has also agreed to issue to the Agent non -transferable compensation
options (“Compensation Options”) equal in number to 7% of the aggregate number of Units
sold under the Offering. Each Compensation Option will be exercisable to acquire one common
share at an exercise price of C$0.36 per share for 24 months following the closing of the
Offering.
The Offering is scheduled to close on or about July 3, 2019 and is subject to regulatory
approval. Resale of the securities distributed in connection with the Offering will be subject to a
hold period of four months and one day following the closing date of the Offering.
No US Registration
The securities referred to in this news release have not b een, and will not be, registered under
the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or any
applicable securities laws of any state of the United States, and may not be offered or sold
within the United States or to, or for the accou nt or benefit of, U.S. persons (as such term is
defined in Regulation S under the U.S. Securities Act) or persons in the United States unless
registered under the U.S. Securities Act and any other applicable securities laws of the United
States or an exem ption from such registration requirements is available. This news release
does not constitute an offer to sell or a solicitation of an offer to buy any of these securities
within any jurisdiction, including the United States.
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 fu rther informati on about Euro Sun Mining, or th e contents of this press release, please
contact Investor Relations at [email protected] or +1 416.309.4299.
Caution regarding forward-looking information:
This press rele ase contains "forward -looking i nformation" within the meaning of applicab le
Canadian securities legislation. Forward -looking information includes, without limitation,
statements regarding the Offering, the an ticipated closing date and use of proceeds of the
Offering. Forward-looking information is subject to known a nd 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 ris ks inherent in the mining industry and ris ks 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 Com pany's website at www.eurosunmining.com. Although the
Company has attempt ed to identify important factors that could cause actual results to differ
materially from those containe d in forward -looking information, there may be other factors th at
cause results not to be as anticipated, est imated or intended. There can be no assura nce that
such information will prove to be accurate, as actual results and future events could differ
materially from thos e anticipated in such stateme nts. 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 s ell or a solicitation of an offer to buy any of
the securities in the United States. The securities have not been and wil l not be registered
under the United States Securities Act of 1933, as amended (the “U.S. Se curities Act”), or any
state securities la ws 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.