TSXV: EOX
www.euromaxresources.com
VANCOUVER,
BC, June 19, 2024 /CNW/ - Euromax Resources
Ltd. (TSXV: EOX): ("Euromax" or the "Company"),
announces that today further to its news release dated June 7, 2024, it has now closed a non-brokered
private placement (the "Private Placement") consisting of
3,302,081 units of the Company (the "Units"), at a
subscription price of C$0.02 per Unit
for aggregate gross proceeds of C$66,041.62. Each Unit consists of one common
share in the capital of the Company (each, a "Common Share")
and one Common Share purchase warrant (each, a "Warrant").
Each Warrant will be exercisable for a period of five years
following the closing date at an exercise price of C$0.05 per
Common Share.
The Units to be issued pursuant to the Private
Placement, and any Common Shares issued in connection with the
exercise of Warrants, if any, will be subject to a hold period of
four months and one day from the date of issuance expiring on
October 19, 2024, in accordance with
the policies of the TSX Venture Exchange (the "TSXV") and
applicable securities laws.
The gross proceeds from the issuance of the Units
will be used as follows:
|
i.
|
Office, administration
and communications costs – 35%
|
|
ii.
|
Salaries –
28%
|
|
iii.
|
Legal &
administrative fees – 26%
|
|
iv.
|
Project working capital
– 6%
|
|
v.
|
Tax, audit &
accounting fees – 5%
|
Other than disclosed above, no proceeds will be
used to fund payments to non arm's length parties or to persons
conducting Investor Relations Activities within the meaning of the
policies of the TSXV. None of the Units will be distributed to
insiders of the Company and the private placement will not
materially affect control of the Company.
The Private Placement remains subject to the
final acceptance of the TSXV.
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 statements that are
forward-looking, such as those relating to the Company's cash for
ongoing operations. Forward-looking statements are frequently
characterised by words such as "plan", "expect", "project",
"intend", "believe", "anticipate" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on the opinions and estimates
of management at the dates the statements are made, and are subject
to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from
those projected in the forward-looking statements. This information
is qualified in its entirety by cautionary statements and risk
factor disclosure contained in filings made by the Company,
including its annual information form for the year ended
December 31, 2023 and financial
statements and related MD&A for the financial years ended
December 31, 2023 and 2022, as well
as the financial statements for the three months ended March 31, 2024 and 2023 and the related MD&A
for the three months ended March 31,
2024, filed with the securities regulatory authorities in
certain provinces of Canada and
available on SEDAR+ at sedarplus.ca. The forward-looking
statements contained in this document are as of the date of
this document, and are subject to change after this date. Readers
are cautioned that the assumptions used in the preparation of
such information, although considered reasonable at the time
of preparation, may prove to be imprecise and, as such, undue
reliance should not be placed on forward-looking statements.
Euromax disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, unless required by
applicable law. Neither the TSX Venture Exchange nor its
regulation services provider accepts responsibility for the
adequacy or accuracy of this news release.
SOURCE Euromax Resources Ltd.