Non-brokered deal funds development program at the Ilovitza project
By Devika Patel
Knoxville, Tenn., May 24 - EurOmax Resources Ltd. said it has arranged a C$6.3 million non-brokered private placement of stock.
The company will sell 42 million common shares at C$0.15 apiece, which is identical to the May 23 closing share price.
Insiders may participate.
Proceeds will be used for the first stage of a development program at the Ilovitza copper-gold porphyry project and for general working capital.
EurOmax is an oil, gas and mineral explorer based in Vancouver, B.C.
| Issuer: | EurOmax Resources Ltd.
|
| Issue: | Common shares
|
| Amount: | C$6.3 million
|
| Shares: | 42 million
|
| Price: | C$0.15
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | May 24
|
| Stock symbol: | TSX Venture: EOX
|
| Stock price: | C$0.15 at close May 23
|
| Market capitalization: | C$27.48 million
|
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