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Euromax Announces Partial Revocation of Cease Trade Order and Proposed Private Placement
Euromax Announces Partial Revocation of Cease Trade Order and Proposed Private Placement ...
About this update from Euromax Resources Ltd.
[{"type":"text","content":"\n \n \n \n Euromax Announces Partial Revocation of Cease Trade Order and Proposed Private Placement\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 \n \n VANCOUVER, BC\n \n \n ,\n \n \n April 25, 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 \"), announces today that the Ontario Securities Commission (the \"\n \n OSC\n \n \") has granted a partial revocation revocation dated\n \n April 25\n \n , 2024 (the \"\n \n Partial Revocation\n \n \") of a cease trade order (the \"\n \n CTO\n \n \") previously issued by the OSC on\n \n April 8\n \n , 2024.  The Partial Revocation permits the Company to complete a private placement transaction for the purpose of finalizing the audit of its annual financial statements and completing the annual filing, as well as payment of certain outstanding fees and other general and administrative expenses.\n \n \n The Partial Revocation was pursued in order to permit Euromax to issue and sell up to 61,464,496 units (the \"\n \n Units\n \n \"), each Unit consisting of one common share in the capital of the Corporation (each, a \"\n \n Common Share\n \n \") and one Common Share purchase warrant (each, a \"\n \n Warrant\n \n \"), at an offering price of\n \n C$0.02\n \n (equal to\n \n US$0.01485\n \n ) per Unit for aggregate gross proceeds of approximately\n \n C$1.2 million\n \n (equal to\n \n US$912,681\n \n ), as determined using the foreign exchange rate as at\n \n February 8, 2024\n \n , pursuant to a non-brokered private placement (the \"\n \n Offering\n \n \"). Each Warrant will entitle the holder to acquire one Common Share at an exercise price of\n \n C$0.05\n \n per Common Share for a period of five years following the closing of the Offering.\n \n \n The proposed placees of the Offering include two controlling shareholders and two directors of the Company (the\n \n Proposed Placees\n \n ).  All Proposed Placees are insiders of the Company.  The Offering i...