Business
Euro Sun Mining Announces $2.365 Million Private Placement
TORONTO, Nov. 11, 2022 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc., (TSX: ESM) (“Euro Sun” or the “Company”) is pleased to announce that it intends to complete a n
About this update from Euro Sun Mining Inc.
[{"type":"text","content":" TORONTO, Nov. 11, 2022 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc., (TSX: ESM) (“Euro Sun” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement financing of up to 47,300,000 common shares of the Company (the “Common Shares”) at a price of C$0.05 per Common Share for gross proceeds of up to C$2,365,000 (the “Offering”). Closing of the full Offering is expected to occur on or about November 18, 2022. All securities issued in connection with the Offering will be subject to a statutory hold period of four-months and one day. Completion of the Offering is subject to a number of conditions, including without limitation, receipt of Toronto Stock Exchange approval and a satisfactory waiver from the Corporation’s secured lender as discussed below. Euro Sun intends to use the proceeds of the Offering for general corporate purposes. Change of Directors Upon closing of the Offering, Eva Bellissimo and Peter Vukanovich will resign as directors of the Company, to be succeeded by Grant Sboros and Neil Said. After giving effect to the foregoing, the continuing members of the board of directors of the Company will be Danny Callow, David Danziger, Bruce Humphrey, Scott Moore, Paul Perrow, Neil Said and Grant Sboros. The Company thanks Ms. Bellissimo and Mr. Vukanovich for their contributions and wish them well in their future endeavours. Neil Said is a business executive and corporate securities lawyer who works as for various Toronto Stock Exchange, TSX Venture Exchange and Canadian Securities Exchange-listed companies in the mining, oil & gas, cannabis and technology industries. Mr. Said also sits on the board of directors of various public and private companies. He previously worked as a securities lawyer at a large Toronto corporate law firm, where he worked on a variety of corporate and commercial transactions. Mr. Said obtained a Juris Doctor from the Faculty of Law at the University of Toronto and he received a Bachelor of Business Administration (Honours) with a minor in Economics from Wilfrid Laurier University. Grant Sboros worked as the Chief Financial Officer of Katanga Mining Limited from 2017 to 2019 when he was appointed as Executive Director of Forbes Manhattan looking after Africa Mining assets. From 2013 to 2017 he was DCFO of Mopani Copper Mines PLC. From 2007 u...