Business
Euro Sun Mining Announces up to $5 Million Private Placement
TORONTO, July 25, 2023 (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, July 25, 2023 (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 of up to 100,000,000 common shares of the Company (“Common Shares”) at a premium placed at C$0.05 per Common Share for gross proceeds to the Company of up to approximately C$5 million (the “Offering”). Euro Sun intends to use the proceeds of the Offering to repay outstanding amounts under the two convertible security funding agreements with Lind Global Fund II, LP, an investment entity managed by The Lind Partners, a New York based institutional fund manager (together “Lind”) and to complete the remaining permitting requirements for the Rovina Valley Project. Euro Sun also takes this opportunity to formally thank Lind for their valued support as the Rovina Valley Project continues to gain traction. Closing of the Offering is expected to occur on or about August 18, 2023 and may close in one or more tranches. 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. The Company may pay finder’s fees to eligible finders in accordance with the policies of the Toronto Stock Exchange. About Euro Sun Mining Inc. Euro Sun is a Toronto Stock Exchange listed mining company focused on the exploration and development of its 100%-owned Rovina Valley gold and copper project located in west-central Romania, which hosts the second largest gold deposit in Europe. Further information: For further information about Euro Sun Mining, or the contents of this press release, please contact Investor Relations at [email protected] Caution regarding forward-looking information: This press release contains \"forward-looking information\" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the Offering and use of proceeds of the Offering. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those ex...