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Euromax Announces Repayment of Debt Owed to Galena
Euromax Resources Ltd. (TSXV: EOX): ("Euromax" or the "Company") is pleased to announce that it has entered into a debt settlement agreement dated January 13, 2026 (the "DSA") to settle in full the outstanding debt owing to one of its current major shareholders, Galena Resource Equities Limited ("Galena"), an entity controlled and managed by Galena Asset Management S.A., which is an affiliate of Trafigura Pte Ltd., under the non-interest bearing, unsecured, non-convertible promissory note issued
About this update from Euromax Resources Ltd.
[{"type":"text","content":"TSXV: EOXwww.euromaxresources.com","length":34,"tagName":"p","attribs":{}},{"type":"text","content":"VANCOUVER, BC, Jan. 13, 2026 /CNW/ - Euromax Resources Ltd. (TSXV: EOX): ("Euromax" or the "Company") is pleased to announce that it has entered into a debt settlement agreement dated January 13, 2026 (the "DSA") to settle in full the outstanding debt owing to one of its current major shareholders, Galena Resource Equities Limited ("Galena"), an entity controlled and managed by Galena Asset Management S.A., which is an affiliate of Trafigura Pte Ltd., under the non-interest bearing, unsecured, non-convertible promissory note issued to Galena on September 29, 2025 in the amount of US$804,000 (the "Debt").","length":661,"tagName":"p"},{"type":"text","content":"In connection with repayment of the Debt, Euromax will be issuing to Galena 34,965,342 common shares in the capital of the Company (the "Common Shares"), at a deemed offering price of C$0.0325 (US$0.02299) per Common Share (collectively, the "Transaction").","length":277,"tagName":"p"},{"type":"text","content":"The board of directors of the Company (the "Board") has determined that it is in the best interests of the Company to settle the outstanding Debt by entering into the Transaction in order to preserve the Company's cash for ongoing operations.","length":256,"tagName":"p"},{"type":"text","content":"Closing of the Transaction is subject to customary closing conditions, including the final acceptance of the TSX Venture Exchange. The Company intends to close the Transaction as soon as practicable. The Common Shares to be issued pursuant to the Transaction will be subject to a hold period of four months and one day from the date of issuance.","length":345,"tagName":"p"},{"type":"text","content":"The Transaction is not expected to materially affect control of the Company. As Galena is a "related party" of Euromax under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"), in completing the Transaction, the Company intends to rely on the exemptions from the formal valuation and minority approval requirements of Policy 5.9 of the TSXV and sections 5.5(b) and 5.7(1)(a) of MI 61-101.","length":478,"tagName":"p"...