VANCOUVER, Aug. 23, 2017 /CNW/ - Euromax Resources
Ltd., (TSX: EOX; OTCQB: EOXFF): ("Euromax" or the
"Company"), is pleased to announce it has closed a
non-brokered private placement (the "Private Placement") of
1,666,666 units (the "Units") each consisting of one common
share in the capital of the Company (the "Common Shares")
and one warrant (the "Warrants"), at an offering price of
$0.30 per Unit for gross proceeds of
$499,999.80. The Warrants entitle the
holder thereof to acquire one Common Share at an exercise price of
$0.33 for a period of three years
following the closing of the Private Placement.
The Company intends to use the proceeds of the Private Placement
for the 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 nectary regulatory approvals,
including approval of the Toronto Stock Exchange. The Common Shares
issued pursuant to the Private Placement and the exercise of the
Warrants will be subject to a hold period of four months and one
day from the closing date of the Private Placement and the exercise
date, respectively, in accordance with applicable Canadian
securities laws.
About Euromax Resources Ltd.
Euromax has a major
development project in Macedonia
were we are focused on building and operating the Ilovica-Shtuka
copper/gold project in Macedonia.
Forward-Looking Information
This news release contains forward-looking information.
Forward-looking statements include, but are not limited to the
completion of the Private Placement, the use of proceeds from the
Private Placement, 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.