Euromax Announces Closing of First Tranche of Non-Brokered Private Placement

Executive Summary

• Euromax Resources closed the first tranche of its non‑brokered private placement, issuing 48,838,542 common shares at C$0.0325 each for gross proceeds of C$1,587,252.62 (US$1.12 M).
• A second and final tranche of up to 73,257,815 shares is expected to close in January 2026, targeting additional gross proceeds of approximately C$2.38 M (US$1.68 M).
• Proceeds from the first tranche are earmarked for office/administration (20%), salaries (31%), legal & admin fees (18%), finance costs (7%), project working capital (9%) and tax/audit/accounting fees (15%).

Key Details

• Shares Issued – First Tranche: 48,838,542 common shares.
• Subscription Price: C$0.0325 per share (US$0.02299).
• Gross Proceeds – First Tranche: C$1,587,252.62 (US$1,123,003.12).
• Hold Period: Four months and one day; expires 1 May 2026 per TSXV policy.
• Final Tranche Anticipated: Up to 73,257,815 shares for C$2,380,878.99 (US$1,684,504.73), expected closure January 2026.
• Use of Proceeds – First Tranche Allocation:
• Office, administration & communications – 20%
• Salaries – 31%
• Legal & administrative fees – 18%
• Finance costs – 7%
• Project working capital – 9%
• Tax, audit & accounting fees – 15%
• Related‑Party Considerations: Some first‑tranche investors are insiders; the placement relied on TSXV exemptions from formal valuation and minority‑approval requirements (Policy 5.9, MI 61‑101).
• Regulatory Note: Closing remains subject to final acceptance by the TSX Venture Exchange.

Notable Quotes

(No direct quotes were provided in the release.)