Business
Euromax Announces Closing of Issuance of Additional Securities to EBRD in Connection with Partial Repayment of Debt
Euromax Announces Closing of Issuance of Additional Securities to EBRD in Connection with Partial...
About this update from Euromax Resources Ltd.
[{"type":"text","content":"\n\n\n\n Euromax Announces Closing of Issuance of Additional Securities to EBRD in Connection with Partial Repayment of Debt\n \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.prntar{\nTEXT-ALIGN: RIGHT\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n TSXV: EOX\n \n\n www.euromaxresources.com\n \n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n Feb. 3, 2025\n \n\n /CNW/ -\n \n Euromax Resources Ltd.\n \n (TSXV: EOX): (\"\n \n Euromax\n \n \" or the \"\n \n Company\n \n \"), announces that further to its news release dated\n \n January 14, 2025\n \n , it has today completed the issuance of 23,698,977 common shares of the Company (the \"\n \n Common Shares\n \n \") to the European Bank for Reconstruction and Development (\"\n \n EBRD\n \n \") pursuant to the debt settlement agreement entered into between the Company and EBRD on\n \n January 14, 2025\n \n (the \"\n \n DSA\n \n \").  Each Common Share was issued at a deemed offering price of\n \n C$0.015\n \n per Common Share (collectively, the \"\n \n Transaction\n \n \").  Pursuant to the DSA, the Company agreed to issue the Common Shares in order to repay\n \n C$355,484.65\n \n to EBRD, representing a portion of the accrued finance delay interest owing to the EBRD under the convertible debenture issued by the Company to EBRD in principal amount of\n \n USD$5 million\n \n , as amended (the \"\n \n Debenture\n \n \").\n \n\n The Common Shares issued pursuant to the Transaction will be subject to a hold period of four months and one day from the date of issuance, expiring on\n \n June 1, 2025\n \n in accordance with the policies of the TSX Venture Exchange (the \"\n \n TSXV\n \n \") and applicable securities laws.\n \n\n The Transaction is not expected to materially affect control of the Company.  As EBRD is a related party of Euromax, in completing the Transaction, the Company is relying on the exemptions from the formal valuation and minority approval requirements of Policy 5.9 of the TSXV and Multilateral Instrument 61-101 –\n \n Protection of Minority Security Holders in Special Transactions\n \n (\"\n \n MI 61-101\n \n \"...