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Euromax Provides Update on Previously Announced Transactions
Euromax Provides Update on Previously Announced Transactions Canada NewsWire VAN...
About this update from Euromax Resources Ltd.
[{"type":"text","content":"\n\n\n\nEuromax Provides Update on Previously Announced Transactions\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, March 1, 2019\n\n\n\nVANCOUVER, March 1, 2019 /CNW/ - Euromax Resources Ltd., (TSX: EOX; OTCQB: EOXFF): (Euromax or the Company), announces that it is finalizing the closing of its previously announced non-brokered private placement financing to one of its current major shareholders, Galena Resource Equities Limited, an entity controlled by Galena Asset Management S.A., which is an affiliate of the Trafigura Pte. Ltd., for gross proceeds of CAD$9,188,040 (USD$6,900,000) (the Private Placement). \nAs was also previously announced, in connection with the Private Placement, Euromax was in negotiations with the holders of its previously issued convertible debentures (the Debentures), the European Bank for Reconstruction and Development (EBRD) and CC Ilovitza Limited (CCC), an affiliate of Consolidated Contractors Company Group, to extend the maturity date of the Debentures from February 28, 2019 to February 1, 2020.\nThe Company has entered into agreements with each of EBRD and CCC to extend the maturity date of the Debentures until March 8, 2019 while it works towards a long term agreement with each lender and to complete the Private Placement.\nThe Company will provide further updates of the status of this matter as appropriate.\nAbout Euromax Resources Ltd.\nEuromax is a minerals development company whose corporate strategy is centered on the development of the Ilovica-Shtuka Project, the company's core copper and gold development project located in Macedonia. Euromax, through its local subsidiaries, has been involved in the exploration and development of a number projects in south-eastern Europe since January 2011.\nForward-Looking Information \nThis news release contains forward-looking information. Forward-looking statements include, but are not limited to the completion of the Private Placement and the entering into of agreements to amend the terms of the Debentures, the continued advancement of the Company's general busine...