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TSXV: EOX,OTC:EOXFF
www.euromaxresources.com
Euromax Resources Ltd. (TSXV: EOX,OTC:EOXFF): (" Euromax " or the " Company ") announces that it has agreed to issue a non-interest bearing, unsecured, non-convertible promissory note in the principal amount of US$804,000 (the " Promissory Note ") to one of its current major shareholders, Galena Resource Equities Limited (" Galena "), an entity controlled and managed by Galena Asset Management S.A., which is an affiliate of Trafigura Pte Ltd. The proceeds from the Promissory Note will be used to provide the Company with short term working capital. The Company currently has no source of operational cash flow and it is anticipated that the Company will require additional funding by the end of the current calendar year.
As Galena is a "related party" of Euromax under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101 "), the entering into of the Promissory Note constitutes a "related party transaction" under MI 61-101. In completing this transaction, the Company is relying on the exemptions from the formal valuation and minority approval requirements under sections 5.4 and 5.6 of MI 61-101 pursuant to sections 5.5(b) and 5.7(1)(f) of MI 61-101, respectively. The Company did not file a material change report with respect to the Promissory Note at least 21 days prior to the anticipated issuance of the Promissory Note due to the Company's determination that it is in the best interest of the Company to avail itself of the proceeds of the Promissory Note in an expeditious manner.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Euromax Resources Ltd.
Euromax has a major development project in North Macedonia and is focused on building and operating the Ilovica-Shtuka gold-copper project.
Forward-Looking Information and Cautionary Language
This news release contains statements that are forward-looking, such as those relating to the Company's funding requirements and use of proceeds from the Promissory Note. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the dates the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company, including its annual information form for the year ended December 31, 2024 and financial statements and related MD&A for the financial years ended December 31, 2024 and 2023, as well as the unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2025 and 2024 and the related MD&A for the three and six months ended June 30, 2025 and 2024 along with the accompanying MD&As, filed with the securities regulatory authorities in certain provinces of Canada and available on SEDAR+ at sedarplus.ca . The forward-looking statements contained in this document are as of the date of this document and are subject to change after this date. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Euromax disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.
This news release shall not constitute an offer to sell or a solicitation of any offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities referenced herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), and such securities may not be offered or sold within the United States absent registration under the U.S. Securities Act or an applicable exemption from the registration requirements thereunder.
SOURCE Euromax Resources Ltd.
View original content: http://www.newswire.ca/en/releases/archive/September2025/29/c9196.html
