VANCOUVER, BC, Feb. 26, 2021 /CNW/ - Euromax Resources
Ltd, (TSX: EOX): ("Euromax" or the
"Company"), announces that the Company has obtained
agreements from each of the European Bank for Reconstruction and
Development ("EBRD") and CC Ilovitza Limited ("CCC"),
an affiliate of Consolidated Contractors Company Group, to extend
the maturity date of EBRD's and CCC's previously issued convertible
debentures in the aggregate principal amounts of USD$5,000,000 and CAD$5,200,000, respectively, from February 28, 2021, to February 28, 2022.
In completing the amendments to the Company's previously issued
convertible debentures, the Company is relying on the the
exemptions from the formal valuation and minority approval
requirements in Multilateral Instrument 61-101 – Protection of
Minority Security Holders in Special Transactions ("MI
61-101") contained in sections 5.5(a) and 5.7(a) of MI 61-101,
respectively.
The transactions described in this news release remain subject
to the final approval of the Toronto Stock Exchange.
About Euromax Resources Ltd.
Euromax has a major development project in North Macedonia and is focused on building and
operating the Ilovica-Shtuka gold-copper project.
Forward-Looking Information
This news release contains statements that are
forward-looking, such as those relating to the final approval of
the Toronto Stock Exchange of the amendments to the Company's
previously issued convertible debentures and any additional number
of shares which may be issuable to the holders of such debentures
in connection with the amendments. Forward-looking statements are
frequently characterised by words such as "plan", "expect",
"project", "intend", "believe", "anticipate" and other similar
words, or statements that certain events or conditions "may" or
"will" occur. Forward-looking statements are based on the opinions
and estimates of management at the dates the statements are made,
and are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements.
This information is qualified in its entirety by cautionary
statements and risk factor disclosure contained in filings made by
the Company, including its annual information form for the year
ended December 31, 2019 and financial
statements and related MD&A for the financial years ended
December 31, 2019 and 2018, and the
three months ended September 30,
2020, filed with the securities regulatory authorities in
certain provinces of Canada and
available on SEDAR. The forward-looking statements contained
in this document are as of the date of this document, and are
subject to change after this date. Readers are cautioned that the
assumptions used in the preparation of such information, although
considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on
forward-looking statements. Euromax disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as otherwise required by applicable law.
SOURCE Euromax Resources
