Euro Sun Mining Announces the Filing and Receipt of the Final Prospectus Relating to the Previously Announced Bought Deal Public Offering of Units
EURO SUN MINING ANNOUNCES THE FILING AND RECEIPT OF THE FINAL
PROSPECTUS RELATING TO THE PREVIOUSLY ANNOUNCED BOUGHT DEAL
PUBLIC OFFERING OF UNITS
Not for distribution to United States newswire services or dissemination in the United States.
June 2, 2020
Toronto, Ontario
Euro Sun Mining Inc. (TSX: ESM) (“Euro Sun” or the “Company”) is pleased to announce that
it has filed, and obtained a receipt for, a short form (final) prospectus today with the securities
regulatory authorities in each of the provinces of Canada, exce pt Quebec, in connection with its
previously announced offering whereby Sprott Capital Partners L P on its own behalf and, if
applicable, on behalf of a syndicate of underwriters (together, the “Underwriter”) has agreed to
purchase, on a bought deal basis, 51,282,052 units of the Compa ny (the “ Units”) at a price of
C$0.39 per Unit (the “ Issue Price ”), for gross proceeds of approximately C$20,000,000 (the
“Offering”).
Each Unit will be comprised of one (1) common share in the capi tal 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 th e date which is thirty-six
months after the Closing Date (as defined below).
The Company has granted to the Underwriter the option to purcha se up to that number of
additional Units equal to 15% of the Offering size at the Issue Price for market stabilization
purposes and to cover over-allotments (the “ Over-Allotment Option ”). The Over-Allotment
Option will be exercisable in whole or in part, at any time and from time to time, for a period of 30
days from and including the Closing Date. If the Over-Allotment Option is exercised in full, an
additional C$3,000,000 will be raised pursuant to the Offering and the aggregate gross proceeds
of the Offering will be approximately C$23,000,000.
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.
The Offering is scheduled to close on or about June 5, 2020, or such other date as may be agreed
to between the Company and the Underwriter (the “ Closing Date ”) and is subject to certain
conditions, including, but not limited to, the receipt of all n ecessary approvals, including the
approval of the Toronto Stock Exchange (the “ TSX”) and applicable securities regulatory
authorities.
On the Closing Date, the Company shall pay to the Underwriter a cash commission of 7% of the
gross proceeds raised under the Offering (including in connecti on with the exercise of the Over-
Allotment Option) and shall issue warrants of the Company to th e Underwriter, exercisable for a
period of 24 months following the Closing Date, to acquire that number of Common Shares which
is equal to 7% of the number of Units sold under the Offering (including Units issued in connection
with the exercise of the Over-Allotment Option) at an exercise price equal to the Issue Price.
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, the Over-Allotment Option, the anticipated Closing Date and the use of proceeds of the Offering.
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 im plied by such forward-looking info rmation, including risks inherent in
the mining industry and risks described in the public di sclosure of the Company which is available under
the profile of the Company on SEDAR at ww w.sedar.com and on the Company's website at
www.eurosunmining.com. Although the Company has atte mpted to identify import ant 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 fu ture 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.