07:41:40 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Euro Sun Mining Inc (2)
Symbol ESM
Shares Issued 318,146,998
Close 2024-04-26 C$ 0.06
Market Cap C$ 19,088,820
Recent Sedar Documents

Euro Sun issues $200,000 (U.S.) promissory note

2024-04-29 15:18 ET - News Release

An anonymous director reports

EURO SUN MINING ISSUES US$200,000 PROMISSORY NOTE AND GRANTS EXCLUSIVITY

Euro Sun Mining Inc. has issued a convertible promissory note to John Robins and James Paterson (the lenders) providing for a principal amount of $200,000 (U.S.) and maturing on April 22, 2025. The Note bears interest at 6% per annum, compounded monthly, and is secured against all of the assets and property of the Company pursuant to an amended and restated general security agreement. The Principal Amount and all interest accrued thereon is convertible into common shares of the Company (the "Conversion Shares") at a price of $0.06 per Conversion Share, subject to the approval of the Toronto Stock Exchange.

Euro Sun intends to use the Principal Amount for working capital costs in Canada and Romania.

The Note (along with the promissory notes issued pursuant to the press releases dated March 1, 2024 and April 2, 2024) are issued pursuant to a letter of intent between the Company and the Lenders. Provided that the Lenders issues an advance of US$200,000 every 30 day period (a "Subsequent Advance"), up to a maximum of five Subsequent Advances, the Company shall grant a 30-day exclusivity period to the Lenders to negotiate a further financing.

All Conversion Shares issued under the Promissory Note are subject to a hold period of four months and one day from the date of issuance.

About Euro Sun Mining Inc.

Euro Sun is a Toronto Stock Exchange listed mining company focused on the exploration and development of its 100%-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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