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Euromax Enters into Agreements to Extend Maturity Dates of Previously Issued Convertible Debentures
Euromax Enters into Agreements to Extend Maturity Dates of Previously Issued Convertible Debentur...
About this update from Euromax Resources Ltd.
[{"type":"text","content":"\n\n\n\n Euromax Enters into Agreements to Extend Maturity Dates of Previously Issued Convertible Debentures\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 \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\n VANCOUVER, BC\n \n\n ,\n \n\n Feb. 28, 2025\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 that, further to its press release dated\n \n February 10, 2024\n \n , the Company has obtained agreements from each of the European Bank for Reconstruction and Development (\"\n \n EBRD\n \n \") and CC Ilovitza Limited (\"\n \n CCC\n \n \"), an affiliate of Consolidated Contractors Company Group, to extend the maturity dates of EBRD's and CCC's previously issued convertible debentures in the aggregate principal amounts of\n \n USD$5,000,000\n \n and\n \n CAD$5,200,000\n \n , respectively, from February 28, 2025 to February 28, 2026 (collectively, the \"\n \n Debenture Amendments\n \n \").\n \n\n The Debenture Amendments do not make any changes to the conversion price applicable to principal under the convertible debentures (\n \n $0.15\n \n per share) or to the applicable interest rate (20% for the period from and including\n \n April 30, 2018\n \n to and excluding\n \n March 31, 2019\n \n and 7% for the period from and including\n \n March 31, 2019\n \n to and excluding\n \n February 28, 2025\n \n ).\n \n\n In order to comply with the requirements of the TSX Venture Exchange, EBRD and CCC had previously agreed that for as long as the Company is listed on the TSX Venture Exchange, any issuance of shares pursuant to a conversion of accrued and unpaid interest under the convertible debentures and of any fees under the EBRD convertible debenture will be subject to the policies of the TSX Venture Exchange, including the requirement that such issuance would be subject to prior acceptance by the TSX Venture Exchange and that such shares would be issued at a price that is not le...