By Laura Lutz
Des Moines, Sept. 1 - EurOmax Resources Ltd. arranged a private placement of units for up to C$1.256 million.
The company plans to sell up to 2.73 million units of one common share and one warrant at C$0.46 per unit. Each warrant will be exercisable at C$0.60 for two years.
The expiry of the warrants may be accelerated to 30 days if the company's shares trade above C$1.00 for 30 consecutive days at least four months after the settlement date of the placement.
The placement is non-brokered.
The proceeds will be used for general corporate purposes and development of the company's mineral properties in southeastern Europe.
EurOmax is an oil, gas and mineral company based in Vancouver, B.C.
| Issuer: | EurOmax Resources Ltd.
|
| Issue: | Units of one share and one warrant
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| Amount: | C$1.256 million
|
| Units: | 2.73 million
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| Price: | C$0.46
|
| Warrants: | One per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.60
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| Agent: | Non-brokered
|
| Pricing date: | Sept. 1
|
| Stock symbol: | TSX Venture: EOX
|
| Stock price: | C$0.54 at close on Aug. 31
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