Euro Sun Mining Announces Closing of C$22.3 Million Bought Deal Financing
EURO SUN MINING ANNOUNCES CLOSING OF C$22.3 MILLION BOUGHT DEAL
FINANCING
Not for distribution to United States newswire services or dissemination in the United States.
June 5, 2020
Toronto, Ontario
Euro Sun Mining Inc. (TSX: ESM) (“Euro Sun” or the “Company”) is pleased to announce that
it has completed its previously announced bought deal prospectus offering of 57,235,384 units of
the Company (the “ Units”) at a price of C$0.39 per Unit for aggregate gross proceeds o f
C$22,321,799.76, which includes a partial exercise of the under writers’ over-allotment option for
5,953,332 Units (the “Offering”). Each Unit is comprised of one (1) common share in the capit al
of the Company (each, a “ Common Share ”) and one half of one Common Share purchase
warrant entitling the holder to purchase one Common Share at C$ 0.55 at any time on or before
June 5, 2023.
The Offering was conducted by Sprott Capital Partners LP, as le ad underwriter and sole
bookrunner, and BMO Nesbitt Burns Inc. (together, the “ Underwriters”). The Company paid to
the Underwriters a cash commission of 7% of the gross proceeds raised under the Offering and
issued warrants of the Company to the Underwriters, exercisable at any time on or before June
5, 2022, to acquire that number of Common Shares which is equal to 7% of the number of Units
sold under the Offering at an exercise price of $0.39.
The Company intends to use the net proceeds of the Offering for the exploration and development
of the Company’s projects, including permitting and the feasibi lity study, and for working capital
purposes.
About Euro Sun Mining Inc.
Euro Sun is a Toronto Stock Exchange listed mining company focu sed on the exploration and
development of its 100%-owned Rovina Valley gold and copper pro ject located in west-central
Romania, which hosts the second largest gold deposit in Europe.
For further information about Euro Sun Mining, or the contents of this press release, please
contact Investor Relations at [email protected]
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 limitati on, statements regarding the
Offering and the use of proceeds of the Offering. Fo rward-looking information is subject to known and
unknown risks, uncertainties and other factors that ma y cause the actual results, level of activity,
performance or achievements of the Company to be mate rially 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 avail able under the profile of the Company on SEDAR at
www.sedar.com and on the Company's website at w ww.eurosunmining.com. Although the Company has
attempted to identify important factor s that could cause actual results to differ materially from those
contained in forward-looking information, there may be other factors that caus e 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 nor shall there be
any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful,
including any of the securities in the United States of America. The securities have not been and will not be
registered under the United States Securities Ac t of 1933, as amended (the “1933 Act”) or any state
securities laws and may not be offered or sold within the United States or to, or for account or benefit of,
U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and
applicable state securities laws, or an exemption from such registration requirements is available.