VANCOUVER,
March 10, 2017 /CNW/ - Euromax Resources
Ltd., (TSX: EOX; OTCQX: EOXFF): ("Euromax" or the
"Company"), is pleased to announce a non-brokered private
placement (the "Private Placement") of 3,325,582 common
shares of the Company at a price of C$0.43 per share to a consortium of investors for
net proceeds of C$1.43 million. The
Company will also issue 166,279 shares to a third party finder as a
commission related to the Private Placement.
The Company intends to use the proceeds of the Private Placement
for development of its flagship Ilovica-Shtuka project and for
general working capital purposes. Closing of the Private Placement
is subject to the receipt of all necccary regulatory approvals,
including approval of the Toronto Stock Exchange. Any securities
issued pursuant to the Private Placement will be subject to a hold
period of four months and one day from the closing date of the
Private Placement, in accordance with applicable Canadian
securities laws.
About Euromax Resources Ltd.
Euromax has a major
development project in Macedonia
and an exploration services company in Bulgaria. We are focused on building and
operating the Ilovica-Shtuka copper/gold project in Macedonia, as well profitably deploying the
wealth of exploration experience within our Bulgarian Exploration
Services subsidiary.
Forward-Looking Information
This news release contains forward-looking information.
Forward-looking statements include, but are not limited to, use of
proceeds from the Offering, the completion of the Offering, the
continued advancement of the company's general business
development, research development and the company's development of
mineral exploration projects. When used in this press release, the
words "will", "shall", "anticipate", "believe", "estimate",
"expect", "intent", "may", "project", "plan", "should" and similar
expressions may identify forward-looking statements. Although
Euromax believes that their expectations reflected in these forward
looking statements are reasonable, such statements involve risks
and uncertainties and no assurance can be given that actual results
will be consistent with these forward-looking statement. Important
factors that could cause actual results to differ from these
forward-looking statements include the potential that fluctuations
in the marketplace for the sale of minerals, the inability to
implement corporate strategies, the ability to obtain financing and
other risks disclosed in our filings made with Canadian securities
regulators available on SEDAR at www.sedar.com.
Forward-looking statements contained herein are made as of the date
of this news release and Euromax disclaims any obligation to update
any forward-looking statements, whether as a result of new
information, future events or results or otherwise, except as
required by applicable securities laws.
SOURCE EurOmax Resources Ltd.