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Euromax Announces Partial Repayment of Debt Owed to EBRD and Subscription by EBRD for Additional Securities
Euromax Announces Partial Repayment of Debt Owed to EBRD and Subscription by EBRD for Additional ...
About this update from Euromax Resources Ltd.
[{"type":"text","content":"\n\n\n\n Euromax Announces Partial Repayment of Debt Owed to EBRD and Subscription by EBRD for Additional Securities\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.prntac{\nTEXT-ALIGN: CENTER\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 Investors are advised to disregard the news release issued before markets opened on\n \n August 6, 2024\n \n , which relates to a previously completed private placement and was issued in error.\n \n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n Aug. 6, 2024\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 \") is pleased to announce that it has entered into a debt settlement agreement (the \"\n \n DSA\n \n \") to settle a portion of the outstanding debt owing to the European Bank for Reconstruction and Development (\"\n \n EBRD\n \n \") 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 \"). Pursuant to the DSA, Euromax will be paying off\n \n C$245,857.98\n \n representing a portion of the fees and interest owed to EBRD under the Debenture (the \"\n \n Debt\n \n\n Repayment Amount\n \n \").\n \n\n In connection with the Debt Repayment Amount, Euromax will be issuing to EBRD 12,292,899 units in the capital of the Company (the \"\n \n Units\n \n \"), with each Unit consisting of one common share in the capital of the Company (each, a \"\n \n Common Share\n \n \") and one Common Share purchase warrant (each, a \"\n \n Warrant\n \n \"), at a deemed offering price of\n \n C$0.02\n \n per Unit (collectively, the \"\n \n Transaction\n \n \"). Each Warrant will be exercisable for one Common Share for a period of five years from the date of issuance, at an exercise price of\n \n C$0.05\n \n .\n \n\n The board of directors of the Company (the \"\n \n Board\n \n \") has determined that it is in the best interests of the Company to settle the outstanding Debt Repayment Amount by entering into the Transaction i...