05:12:54 EDT Fri 29 Mar 2024
Enter Symbol
or Name
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Euro Sun Mining Inc (2)
Symbol ESM
Shares Issued 111,786,029
Close 2020-06-05 C$ 0.325
Market Cap C$ 36,330,459
Recent Sedar Documents

Euro Sun closes $22.32-million bought deal offering

2020-06-05 10:46 ET - News Release

An anonymous director reports

EURO SUN MINING ANNOUNCES CLOSING OF C$22.3 MILLION BOUGHT DEAL FINANCING

Euro Sun Mining Inc. has completed its previously announced bought deal prospectus offering of 57,235,384 units of the company at a price of 39 cents per unit for aggregate gross proceeds of $22,321,799.76, which includes a partial exercise of the underwriters' overallotment option for 5,953,332 units. Each unit comprises one common share in the capital of the company and one-half of one common share purchase warrant entitling the holder to purchase one common share at 55 cents at any time on or before June 5, 2023.

The offering was conducted by Sprott Capital Partners LP as lead underwriter and sole bookrunner, and BMO Nesbitt Burns Inc. The company paid to the underwriters a cash commission of 7 per cent of the gross proceeds raised under the offering and issued warrants of the company to the underwriters, exercisable at any time on or before June 5, 2022, to acquire that number of common shares that is equal to 7 per cent of the number of units sold under the offering at an exercise price of 39 cents.

The company intends to use the net proceeds of the offering for the exploration and development of the company's projects, including permitting and the feasibility study, and for working capital purposes.

About Euro Sun Mining Inc.

Euro Sun is a 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.

We seek Safe Harbor.

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