LAST TWO PRIVATE PLACEMENT'sEuro Sun closes $3-million private placement
2019-03-26 16:04 MT - News Release
An anonymous director reports
EURO SUN ANNOUNCES CLOSING OF PRIVATE PLACEMENT
Euro Sun Mining Inc. has closed its previously announced non-brokered private placement financing by issuing 10 million units of the company at a price of 30 cents per unit for gross proceeds of $3-million. Each unit consists of one common share of the company and one-half of a common share purchase 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.
The gross proceeds of the Offering will be used for general corporate purposes and for the advancement of its Rovina Valley Project. The securities underlying the Units will be subject to a four month hold period that expires on July 27, 2019. Closing of the Offering is subject to receipt of regulatory approval, including final Toronto Stock Exchange approval. The Company paid cash finder fees up to 7% to certain finders.
Euro Sun also announces that Mr. Justin Reid has resigned as a director of the Company to pursue other opportunities. Mr. Reid has been a director of the Company since August 4, 2016 and the Company would like to thank Mr. Reid for his valuable contributions.
About Euro Sun Mining Inc.
Euro Sun is a Toronto Stock Exchange listed mining company focused on the exploration and development of its 100%-owned Rovina Valley gold and copper project located in west-central Romania, which hosts the second largest gold deposit in Europe.
Euro Sun Mining closes $3.09-million financing
2019-07-04 15:04 MT - News Release
An anonymous director reports
EURO SUN MINING CLOSES $3.1 MILLION BROKERED PRIVATE PLACEMENT
Euro Sun Mining Inc. has completed its brokered private placement offering announced on June 24, 2019, whereby the company issued a total of 8.61 million units of the company at a price of 36 cents per unit for gross proceeds of $3,099,600. Each unit consisted of one common share of Euro Sun and one common share purchase warrant of Euro Sun. Each warrant is exercisable to acquire one common share at a price of 47 cents per share until July 4, 2021.
The offering was led by PI Financial Corp. The company paid a 7-per-cent cash commission of $216,972 and issued 602,700 broker warrants to the agent. Each broker warrant is exercisable to acquire one common share at a price of 47 cents per common share until July 4, 2021.
The company intends to use the proceeds from the offering for the advancement of its Rovina Valley project and for general corporate purposes.
The common shares and warrants issued under the offering and the common shares issuable upon exercise of the warrants and the broker warrants are subject to a hold period that expires on Nov. 5, 2019.
About Euro Sun Mining Inc.
Euro Sun is a Toronto Stock Exchange-listed mining company focused on the exploration and development of its 100-per-cent-owned Rovina Valley gold and copper project located in west-central Romania.