February 07, 2025
Toronto, ON – Euro Sun Mining Inc. (TSX: ESM) (“Euro Sun” or the “Company”) has successfully closed the third tranche (the “Third Tranche”) of its previously announced non-brokered private placement financing of units (the “Offering”), raising gross proceeds of C$285,045.
Under the Third Tranche, Euro Sun issued 5,700,900 units (each a “Unit”) at a price of C$0.05 per Unit. Each Unit consists of one common share (each a “Common Share”) and one common share purchase warrant (each a “Warrant”). Each Warrant grants the holder the right to acquire an additional Common Share at an exercise price of C$0.05 for a period of two years from the issue date.
In connection with the closing of the Third Tranche, the Company paid $3,500 in cash commissions and issued 170,000 broker warrants (“Broker Warrants”) to finders. Each Broker Warrant enables the holder to purchase one Common Share at a price of C$0.05 for a period of 24 months from the closing date of the Third Tranche.
The net proceeds from the Offering will be directed towards the advancement of the Company’s flagship Rovina Valley Project in Romania and for general corporate purposes.
All securities issued under the Third Tranche are subject to a statutory hold period, expiring four months plus one day from the date of issuance. Additionally, the Company has secured conditional approval from the Toronto Stock Exchange (TSX) to extend the closing date of the Offering until February 13, 2025.
About Euro Sun Mining Inc.
Euro Sun Mining Inc. is a Toronto-based mining company focused on the exploration and development of its 100%-owned Rovina Valley Project, one of Europe’s largest undeveloped gold-copper projects. The Company is committed to responsible mining and sustainable development in the region.
For further information, please visit www.eurosunmining.com or contact:
