EurOmax announces $485,000 financing and director resignation

About this update from Euromax Resources Ltd.

[{"type":"text","content":"\n\n\n\nVANCOUVER, Dec. 24 /CNW/ - EurOmax Resources Limited (TSX-V: EOX)\n("EurOmax") announces that it has arranged a non-brokered Private Placement\nfinancing of 4.85 million Units at $0.10 per Unit for gross proceeds of\n$485,000. Each Unit will consist of one Common Share and one Warrant to arms\nlength investors. One Warrant will entitle the holder to purchase one Common\nShare at a price of $0.15 for 12 months after the closing date and a price of\n$0.20 between 12 months and 24 months following the Closing Date. Insiders of\nEurOmax are subscribing for approximately 75% of the financing.\n\n\nThe net proceeds of the Common Shares shall be used for general corporate\npurposes and development of the Company's mineral properties in Southeast\nEurope. The Common Shares issued will be subject to a 4-month hold period, and\nthe Private Placement is subject to regulatory approval.\n\n\nEurOmax also announces that Mr. Anthony Patriarco has resigned as a\ndirector of the Company.\n\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\nor accuracy of this release.\n\nOn Behalf of the Board of Directors\n\n"John C. Menzies"\nChairman and CEO\n\n-------------------------------------------------------------------------\nEurOmax Resources Limited is listed on TSX Venture Exchange Symbol: EOX\n-------------------------------------------------------------------------\n\n\n","length":1496,"tagName":"div"}]

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