Euromax Announces Proposed Private Placement
TSXV: EOX
www.euromaxresources.com
The proposed use of the gross proceeds from the issuance of the Units is expected to be 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 as disclosed above, no proceeds of the Offering 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
None of the Units will be distributed to insiders of the Company and the Offering is not expected to materially affect control of the Company.
Closing of the Offering is subject to acceptance by the TSXV of the terms of the Offering and other customary closing conditions. In addition to any applicable resale restrictions under Canadian securities laws, all securities issued under the Offering will be subject to a four month resale restriction imposed by the TSXV. There can be no assurances that the Offering will be completed on the terms set out herein, or at all, or that the proceeds of the Offering will be sufficient for the intended uses of proceeds as set out above.
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 completion of the Offering, the acceptance of the TSXV, and the proposed uses of (including sufficiency for such uses) the proceeds of the Offering. 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
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