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Euromax Resources ( (TSE:EOX) ) has shared an update.
Euromax Resources has entered into a debt settlement agreement with major shareholder Galena Resource Equities Limited to fully repay a US$804,000 non-interest-bearing promissory note through the issuance of 34,965,342 common shares at a deemed price of C$0.0325 per share. The all-share transaction, intended to preserve cash for ongoing operations, is subject to customary closing conditions including TSX Venture Exchange approval and will modestly increase Galena’s beneficial ownership from approximately 56.38% to 57.97% of Euromax’s shares, slightly consolidating its control while the company avoids a cash outlay and maintains funding flexibility for its core Ilovica-Shtuka project.
More about Euromax Resources
Euromax Resources Ltd. is a Canadian-listed mining company focused on developing and operating the Ilovica-Shtuka gold-copper project, a major development asset in North Macedonia, positioning the company within the gold and copper resources sector.
Average Trading Volume: 54,820
Technical Sentiment Signal: Hold
Current Market Cap: C$22.64M
For detailed information about EOX stock, go to TipRanks’ Stock Analysis page.