Euromax Resources Closes Non-Brokered Private Placement
VANCOUVER, Aug. 23, 2017 /CNW/ - Euromax Resources Ltd., (TSX: EOX; OTCQB: EOXFF): ("Euromax" or the "Company"), is pleased to announce it has closed a non-brokered private placement (the "Private Placement") of 1,666,666 units (the "Units") each consisting of one common share in the capital of the Company (the "Common Shares") and one warrant (the "Warrants"), at an offering price of $0.30 per Unit for gross proceeds of $499,999.80. The Warrants entitle the holder thereof to acquire one Common Share at an exercise price of $0.33 for a period of three years following the closing of the Private Placement.
The Company intends to use the proceeds of the Private Placement for the development of its flagship Ilovica-Shtuka project and for general working capital purposes. Closing of the Private Placement is subject to the receipt of all nectary regulatory approvals, including approval of the Toronto Stock Exchange. The Common Shares issued pursuant to the Private Placement and the exercise of the Warrants will be subject to a hold period of four months and one day from the closing date of the Private Placement and the exercise date, respectively, in accordance with applicable Canadian securities laws.
About Euromax Resources Ltd.
Euromax has a major development project in Macedonia were we are focused on building and operating the Ilovica-Shtuka copper/gold project in Macedonia.