Euro Sun Mining Closes US$3 Million Strategic Equity Investment

Euro Sun Mining Inc. has closed a previously announced non-brokered strategic equity investment of US$3 million from Urion Investments Holdings Limited, a Trafigura Group company. The company issued 21,974,210 units at C$0.19 per unit, generating gross proceeds of approximately C$4.18 million. These proceeds are allocated to the Rovina Valley Project and general corporate purposes.

Concurrently, the binding offtake agreement with Trafigura Pte Ltd. was amended to increase the offtake volume to 40% effective upon closing. Each unit includes one common share and one-half of one common share purchase warrant. The warrants are exercisable at C$0.40 per share until September 24, 2030. This closing follows the September 3/4/8, 2026 announcements regarding the term sheet for this equity raise and a non-binding MoU with Macquarie Bank and Trafigura for a US$400 million senior project finance facility.

Euro Sun Mining Inc. (ESM) closed a US$3 million equity raise, a routine execution of a previously disclosed transaction that the market had already priced in following September announcements. The company also increased its Trafigura offtake agreement to 40%, a move that improves project economics and secures a major buyer without materially altering the capital structure or execution timeline.

The stock closed at $0.16 on September 24, 2026, down from $0.17 on September 22, indicating a lack of immediate bullish momentum and suggesting the market viewed the news as expected rather than transformative. The US$3 million equity injection remains negligible relative to the projected US$607 million CAPEX and the US$400 million Macquarie debt facility MoU, meaning it does not bridge the funding gap or de-risk the project materially.

Euro Sun Mining Inc. (TSX: ESM) is a development-stage mining company focused on the Rovina Valley Copper-Gold Project in Romania. Located within the European Union, the project benefits from strategic designation under the EU Critical Raw Materials Act (CRMA).

A Definitive Feasibility Study (DFS) updated in November 2025 outlines a pre-tax net present value (NPV) of US$1.78 billion and a pre-tax internal rate of return (IRR) of 39.7%. These figures are based on price assumptions of $4.5/lb for copper and $3,300/oz for gold. Phase 1 mine life is approximately 17.2 years, with first production targeted for 2027 or 2028.

The project includes the open-pit Colnic and Rovina deposits, while the underground Ciresata deposit is pending future studies. Regarding permitting status, the mining license was ratified in 2018 and the Environmental Impact Assessment (EIA) was completed in November 2025. The company is currently awaiting final permit to construct and land re-zoning (PUZ) approval.