An anonymous director reports
EURO SUN MINING SETTLES CONVERTIBLE SECURITY FUNDING AGREEMENT IN FULL
Euro Sun Mining Inc. has agreed to settle the outstanding portion of the convertible security financing agreement (CFSA) with Lind Global Fund II LP in full.
The outstanding amounts under the CFSA will be settled from proceeds received through the recent net smelter return (NSR) royalty arrangement recently negotiated. This achievement honours the commitment made by the company to Lind and sets another milestone on the evolution of the Rovina Valley project to deliver critical European minerals and Romanian economic development.
Euro Sun once again takes this opportunity to formally thank Lind for its valued support as the project continues on a positive trajectory.
NSR (net smelter return) agreement
The company also announces that it has amended and restated NSR agreement to provide for a 1-per-cent (from 0.5 per cent) net smelter return royalty on all copper produced at the project upon the exercise of the company's NSR sale right, in exchange for an increased initial payment of $2,625,000.
About Euro Sun Mining Inc.
Euro Sun is a Toronto Stock Exchange-listed mining company focused on the exploration and development of its 100-per-cent-owned Rovina Valley gold and copper project located in west-central Romania, which hosts the second-largest gold deposit in Europe.
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