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Euromax Announces Intention to Complete Non-Brokered Private Placements
Euromax Announces Intention to Complete Non-Brokered Private Placements Canada New...
About this update from Euromax Resources Ltd.
[{"type":"text","content":"\n\n\n\nEuromax Announces Intention to Complete Non-Brokered Private Placements\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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Sept. 25, 2017\n\n\n\nVANCOUVER, Sept. 25, 2017 /CNW/ - Euromax Resources Ltd., (TSX: EOX; OTCQB: EOXFF): (\"Euromax\" or the \"Company\"), is pleased to announce that it has entered into subscription agreements to complete private placement transactions (together, the \"Transaction\") which will result in Company's receipt of aggregate gross proceeds of $7,900,000.\n\nThe Transaction will consist of two separate non-brokered private placement offerings which will include:\n\n\nthe issuance and sale of 14,666,667 units (the \"Units\") consisting of (i) one Common Share and (ii) one Common Share purchase warrant (each, a \"Warrant\") at an offering price of $0.30 per Unit for aggregate gross proceeds of $4,400,000. The Warrants will each be exercisable for the purchase of one Common Share for a period of three years following closing of the Transaction at a an exercise price of $0.33 (the \"Unit Offering\"); and \nthe issuance and sale of 10,000,000 common shares in the capital of the Company (the \"Common Shares\") at an offering price of $0.35 per Common Share for aggregate gross proceeds of $3,500,000 (the \"Share Offering\").\n\nThe first tranche of the Unit Offering consisting of 13,333,333 Units for gross proceeds of $4,000,000 closed today. The remaining portion of the Unit Offering is expected to close on a future date to be determined by the Company. Pursuant to the requirements of the Toronto Stock Exchange (the \"TSX\"), the Company will seek shareholder approval to complete the Share Offering, and closing of that portion of the Transaction is expected to occur following receipt of such approval. The Transaction has been conditionally approved by the TSX, subject to receipt of customary post-closing documentation.\n\nThe proceeds of the Transaction will be used to progress the design and engineering for the the Company's Ilovica-Shutka copper-gold project in Macedonia, (the \"Project\").  The funds wi...