Euromax Announces Closing of Second and Final Tranche of Non-Brokered Private Placement

Executive Summary

• Euromax Resources Ltd. closed the second and final tranche of its non‑brokered private placement, issuing 73,257,815 common shares at C$0.0325 per share for gross proceeds of C$2.38 million (US$1.68 million).
• Proceeds are earmarked for office, administration, salaries, legal fees, finance costs, project working capital and tax/audit expenses.
• The issuance was made to an insider (related‑party) and is subject to a four‑month‑plus hold period; the placement remains pending final TSXV acceptance.

Key Details

• Shares Issued: 73,257,815 common shares.
• Subscription Price: C$0.0325 per share (US$0.02299).
• Gross Proceeds: C$2,380,878.99 (approximately US$1,684,504.73).
• Placee: Sole placee was an insider of Euromax (“Final Tranche Placee”).
• Hold Period: Four months and one day from issuance, expiring 8 May 2026 per TSXV policy.
• Use of Proceeds:
• Office, administration & communications – 20%
• Salaries – 31%
• Legal & administrative fees – 18%
• Finance costs – 7%
• Project working capital – 9%
• Tax, audit & accounting fees – 15%
• Related‑Party Funding: Up to 6 % of proceeds may fund normal salary payments to non‑arms‑length parties; up to 5 % may fund investor‑relations activities.
• Regulatory Exemptions: Transaction relied on TSXV Policy 5.9 and MI 61‑101 exemptions for related‑party transactions, bypassing formal valuation and minority approval requirements.
• TSXV Acceptance: Placement remains subject to final acceptance by the Toronto Venture Exchange.

Notable Quotes

(No direct quotes were provided in the release.)