Euro Sun Mining Settles Convertible Security Funding Agreeme Euro Sun Mining Settles Convertible Security Funding Agreement in Full
TORONTO, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc., (TSX: ESM) (“Euro Sun” or the “Company”) announces that it has agreed to settle the outstanding portion of the convertible security funding agreement (the “CFSA”) with Lind Global Fund II, LP (“Lind”) in full.
The outstanding amounts under the CFSA will be settled from proceeds received through the recent net smelter return (“NSR”) royalty arrangement recently negotiated (see press release dated August 28, 2023). This achievement honours the commitment made by the Company to Lind and, sets another milestone on the evolution of the Rovina Valley Project (the “Project”) to deliver critical European minerals and Romanian economic development.
Euro Sun once again takes this opportunity to formally thank Lind for their valued support as the Project continues on a positive trajectory.
NSR Agreement
The Company also announces that it has amended and restated NSR agreement to provide for a 1% (from 0.5%) net smelter return royalty on all copper produced at the Project upon the exercise of the Company’s NSR sale right, in exchange for an increased initial payment of C$2.625 million.
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.
Further information:
For further information about Euro Sun Mining, or the contents of this press release, please contact Investor Relations at info@eurosunmining.com