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Euromax Resources ( (TSE:EOX) ) just unveiled an announcement.
Euromax Resources has closed the first tranche of its previously announced non-brokered private placement, issuing 48,838,542 common shares at C$0.0325 per share for gross proceeds of approximately C$1.59 million. The funds will be allocated primarily to salaries, office and administrative expenses, legal and administrative fees, tax and accounting costs, finance costs, and project working capital, with a portion directed to non-arm’s length salary payments and potential investor relations activities. The financing, which included participation by an insider and relied on related-party transaction exemptions under Canadian securities rules, remains subject to final approval from the TSX Venture Exchange, and a second and final tranche expected in January 2026 aims to raise additional proceeds to support the company’s ongoing corporate and project development needs.
More about Euromax Resources
Euromax Resources Ltd. is a mining company focused on developing and operating the Ilovica-Shtuka gold-copper project, a major development asset located in North Macedonia.
Average Trading Volume: 36,571
Technical Sentiment Signal: Hold
Current Market Cap: C$15.09M
See more insights into EOX stock on TipRanks’ Stock Analysis page.