Markets

Euromax Closes $8 Million Non-Brokered Private Placement

Euromax Resources Ltd. (EOX.V) has closed the previously announced non-brokered private placement to raise gross proceeds of $8 million through the issuance of a total of 14,814,815 common shares of the company at a price of $0.54 per share.

The company intends to use the proceeds of the Private Placement to further the accelerated development of its flagship Ilovitza project, resource definition and progression of its other properties and for general working capital purposes.

EOX was up nearly 7% to $0.385, with 52-week range of $0.125 - $1.25.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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