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Euromax Announces Closing of First Tranche of Non-Brokered Private Placement
Euromax Announces Closing of First Tranche of Non-Brokered Private Placement Canada NewsW...
About this update from Euromax Resources Ltd.
[{"type":"text","content":"\n\n\nEuromax Announces Closing of First Tranche of Non-Brokered Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnml40{\nMARGIN-LEFT:3.33em !IMPORTANT\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n\n\n\n\n\nCanada NewsWire\n\n\nTSXV: EOXwww.euromaxresources.com\nVANCOUVER, BC, Dec. 30, 2025 /CNW/ - Euromax Resources Ltd. (TSXV: EOX): (\"Euromax\" or the \"Company\"), announces today that, further to its news release dated December 15, 2025, it has closed the first tranche (the \"First Tranche\") of its previously announced non-brokered private placement (the \"Private Placement\") through the issuance of 48,838,542 common shares of the Company (the \"Common Shares\") at a subscription price of C$0.0325 (US$0.02299) per Common Share for aggregate gross proceeds of C$1,587,252.62 (US$1,123,003.12).\nA second and final tranche of the Private Placement of a remaining 73,257,815 Common Shares for additional gross proceeds of C$2,380,878.99 (US$1,684,504.73) is expected to close as soon as practicable in January 2026 (the \"Final Tranche\").\nThe placees of the First Tranche included one insider of the Company and other investors (the \"First Tranche Placees\").\nThe Common Shares issued pursuant to the First Tranche are subject to a hold period of four months and one day from the date of issuance, expiring on May 1, 2026, in accordance with the policies of the TSX Venture Exchange (the \"TSXV\") and applicable securities laws.\nThe gross proceeds from the Common Shares issued pursuant to the First Tranche will be used as follows:\ni. Office, administration and communications costs – 20%ii. Salaries – 31%iii. Legal & administrative fees – 18%iv.  Finance costs – 7%v. Project working capital – 9%vi. Tax, audit & accounting fees – 15%\nAmounts representing 6% of the proceeds of the Private Placement will be used to fund normal salary payments to Non-Arms' Length Parties. Amounts representing up to 5% of the proceeds of the Private Placement may be used to fund payments to persons conducting Investor Relations Activities ...