Euromax Resources Announces Reconfirmation of US$240m German Government Support

Euromax Resources Ltd. (TSXV:EOX) announced that, following a formal application by Unicredit Bank AG in its capacity as UFK- Agent for a Project Finance Facility for the construction and development of Euromax’s Ilovica Project in Macedonia, the German Government has reconfirmed the in principle eligibility for a Project Finance Facility in the amount of US$ 240 million under the UFK German Untied Loan Guarantee Scheme.
Euromax Resources President and CEO, Steven Sharpe, stated:

This reconfirmation of the in principle eligibility from the German Government is a resounding endorsement of Euromax, the Ilovica Project and Macedonia as an investment destination. From a financial perspective, the potential UFK cover allows us access to 12 year project financing, which is highly beneficial for a project of the magnitude and longevity of ilovica.