Euromax Resources closes final tranche of financing

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 approximately C$2.38 million (US$1.68 million).
• The sole investor was an insider; the shares are subject to a four‑month‑plus hold period expiring May 8 2026.
• Proceeds will be allocated across office, administration, salaries, legal fees, finance costs, project working capital, and tax/accounting expenses, with specific percentages disclosed.

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 (US $1,684,504.73).
• Hold Period: Four months and one day from issuance; expires May 8 2026, per TSX‑V policies.
• 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 Allocation: Up to 6% may fund normal salary payments to non‑arm’s‑length parties; up to 5% may fund investor‑relations activities under TSX‑V policy.
• Regulatory Exemptions Utilized: Relied on TSX‑V Policy 5.9 and MI 61‑101 sections 5.5(b) & 5.7(1)(a) for valuation and minority approval exemptions due to insider placement.
• Final Acceptance: Private placement remains subject to final acceptance by the TSX‑V.

Notable Quotes

(No executive quotes were provided in the release.)