Euromax Provides Financing Update

Executive Summary

• Euromax Resources Ltd. entered into a non‑interest bearing, unsecured, non‑convertible promissory note for US$804,000 with major shareholder Galena Resource Equities Limited.
• Proceeds are earmarked for short‑term working capital as the company currently has no operational cash flow and anticipates needing additional funding by year‑end.
• The transaction is a related‑party financing under MI 61‑101; Euromax relied on exemption provisions and did not file a material change report prior to issuance.

Key Details

• Promissory Note: US$804,000 principal amount, non‑interest bearing, unsecured, non‑convertible.
• Counterparty: Galena Resource Equities Limited (controlled by Galena Asset Management S.A., affiliate of Trafigura Pte Ltd.).
• Use of Proceeds: Short‑term working capital to sustain operations; company currently lacks operational cash flow.
• Related‑Party Status: Transaction qualifies as a “related party” under Multilateral Instrument 61‑101; exemptions invoked from formal valuation and minority approval requirements (sections 5.4, 5.6, 5.5(b), 5.7(1)(f)).
• Regulatory Filing: No material change report filed prior to issuance, based on company’s determination of best interest for expeditious access to funds.
• Future Funding Needs: Company anticipates requiring additional financing before the end of the calendar year 2025.

Notable Quotes

(No direct quotes were provided in the release.)