Euro Sun Announces $2.15 Million Private Placement

Article content

NOT FOR SHIPPING IN THE UNITED STATES OR OUR WIRELESS SERVICES

TORONTO, Nov. 01, 2024 (GLOBE NEWSWIRE) — Euro Sun Mining Inc. (TSX: ESM) (“Euro Sun” or the “Company”) is pleased to announce that it intends to complete a private equity financing of up to 43,000,000 of the Company (the “Units”) at a price of C$0.05 per Unit for gross proceeds to the Company of approximately C$2.15 million (the “A donation“). Each unit will consist of one ordinary share of Euro Sun and one warrant to purchase one share of Euro Sun (“Warranty“). Each Warrant will be exercisable for one common share of Euro Sun at a price of C$0.05 per share for 24 months from the closing of the Offering.

Article content

The Closing of the Offering is expected to occur on or about December 13, 2024 and may be closed in one or more tranches. All securities issued in connection with the Offering will be subject to a statutory period of four months and one day. Completion of the Offering is subject to a number of conditions, including without limitation, receiving the approval of the Toronto Stock Exchange.

Euro Sun intends to use the proceeds of the Offering for general business purposes.

The Company may pay acquisition fees to eligible acquirers in accordance with the policies of the Toronto Stock Exchange.

Information about the company Euro Sun Mining Inc.

Euro Sun is a Toronto Stock Exchange-listed mining company focused on the exploration and development of its 100% owned Rovina Valley gold and copper project located in west-central Romania, which hosts the second largest gold deposit in Europe.

Further information:

For more information about Euro Sun Mining, or the contents of this press release, please contact Investor Relations at info@eurosunmining.com.

A warning about forward-looking information:

Article content

Article content

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the Offering and the use of the proceeds of the Offering. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause the Company’s actual results, level of activity, performance or achievements to differ materially from those expressed or implied by such forward-looking information, including. the risks that exist in the mining industry and the risks described in the Company’s public disclosures available under the Company’s profile on SEDAR at. www.sedarplus.ca and on the Company’s website www.eurosunmining.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results to differ from those anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events may differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update any forward-looking information, except in accordance with applicable securities laws.

Article content

The TSX accepts no responsibility for the adequacy or accuracy of this news release.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”), or any state securities laws and may not be offered or sold within the United States or, or for the account of or benefit US persons (as defined in Regulation S under the 1933 Act) in the absence of such registration or an applicable exemption from such registration requirements.

Article content