RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Eurosun interview outlining strategy My mistake...half warrant at.50 and not a full warrant. If the SP stays above .75 for 20 consecutive days (after 4 months) then the 5 million warrants at .50 can be called for $2.5 million
TORONTO, March 26, 2019 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc., (TSX: ESM) (“Euro Sun” or the “Company”) is pleased to announce that it has closed its previously announced non-brokered private placement financing by issuing 10,000,000 units of the Company (each a “Unit” and collectively, the “Units”) at a price of C$0.30 per Unit for gross proceeds of C$3,000,000.00 (the “Offering”). Each Unit consists of one common share of the Company and one half of a common share purchase warrant (each whole common share purchase warrant, a “Warrant”).
Each Warrant entitles the holder to acquire one additional common share of the Company at an exercise price of C$0.50 for a period of 24 months from issuance. If at any time after four months and one day from the closing of the Offering, the common shares of the Company trade at C$0.75 per common share or higher (on a volume weighted adjusted basis) for a period of 20 consecutive days, the Company will have the right to accelerate the expiry date of the Warrants to the date that is 30 days after the Company issues a news release announcing that it has elected to exercise this acceleration right.