TSXV: EOX
www.euromaxresources.com
VANCOUVER, BC, Aug. 6, 2024
/CNW/ - Euromax Resources Ltd. (TSXV: EOX):
("Euromax" or the "Company"), announces today a
non-brokered private placement of 3,479,365 units of the Company
(the "Units"), each Unit consisting of one common share in
the capital of the Company (each, a "Common Share") and one
Common Share purchase warrant (each, a "Warrant"), at an
offering price of C$0.02 per Unit for
aggregate gross proceeds of approximately C$69,587 pursuant to a non-brokered private
placement (the "Offering"). Each Warrant will entitle the
holder to acquire one Common Share at an exercise price of
C$0.05 per Common Share for a period
of five years following the closing of the Offering.
The proposed use of the gross proceeds from the issuance of the
Units is expected to be 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 as disclosed above, no proceeds of the Offering 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 TSX Venture Exchange (the "TSXV").
None of the Units will be distributed to insiders of the Company
and the Offering is not expected to materially affect control of
the Company.
Closing of the Offering is subject to acceptance by the TSXV of
the terms of the Offering and other customary closing conditions.
In addition to any applicable resale restrictions under Canadian
securities laws, all securities issued under the Offering will be
subject to a four month resale restriction imposed by the TSXV.
There can be no assurances that the Offering will be completed on
the terms set out herein, or at all, or that the proceeds of the
Offering will be sufficient for the intended uses of proceeds as
set out above.
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 completion of the Offering, the
acceptance of the TSXV, and the proposed uses of (including
sufficiency for such uses) the proceeds of the Offering.
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 its interim financial statements
for the three months ended March 31,
2024 and 2023 and 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 TSXV nor its regulation services provider accepts
responsibility for the adequacy or accuracy of this news
release.
SOURCE Euromax Resources Ltd.
