Euromax Announces Closing of Private Placement
TSXV: EOX
www.euromaxresources.com
The Units to be issued pursuant to the Private Placement, and any Common Shares issued in connection with the exercise of Warrants, if any, will be subject to a hold period of four months and one day from the date of issuance expiring on
The gross proceeds from the issuance of the Units will be used as follows:
i. |
Office, administration and communications costs – 35% |
ii. |
Salaries – 28% |
iii. |
Legal & administrative fees – 26% |
iv. |
Project working capital – 6% |
v. |
Tax, audit & accounting fees – 5% |
Other than disclosed above, no proceeds will be used to fund payments to non arm's length parties or to persons conducting Investor Relations Activities within the meaning of the policies of the TSXV. None of the Units will be distributed to insiders of the Company and the private placement will not materially affect control of the Company.
The Private Placement remains subject to the final acceptance of the TSXV.
About Euromax Resources Ltd.
Euromax has a major development project in
Forward-Looking Information
This news release contains statements that are forward-looking, such as those relating to the Company's cash for ongoing operations. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the dates the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company, including its annual information form for the year ended
SOURCE Euromax Resources Ltd.