- Euro Sun (ESM) has announced a security funding agreement with Lind Global Fund II, LP
- The agreement provides a principal amount $1.5 million due in two years
- Funds draw from the loan will accrue simple interest at a rate of 10 per cent per annum
- Funding of the loan is expected to be completed on or before July 15, 2022
- Euro Sun is a mining company focused on the exploration and development of its Rovina Valley gold and copper project in Romania
- Euro Sun Mining Inc. (ESM) is down 4.35 per cent, trading at C$0.11 per share at 2:30 pm ET
Euro Sun (ESM) has announced a security funding agreement with Lind Global Fund II, LP, an investment entity managed by The Lind Partners.
The Lind Partners manages institutional funds that are leaders in providing growth capital to small-and mid-cap companies traded in the US, Canada, Australia and the UK.
The agreement provides a principal amount $1.5 million due in two years.
Under the terms of the agreement, the drawn loan amount will accrue simple interest at a rate of 10 per cent per annum. At closing, the company will receive $1.5 million less a closing fee of $60,000.
Euro Sun intends to use the funding for development expenditures at its Rovina Valley Project and for general and corporate working capital purposes.
Euro Sun has the right to buy-back the outstanding face value of the loan at any time with no penalty.
Lind will be issued 12,711,864 warrants of Euro Sun. The warrants will be exercisable for 48 months at a price of $0.1357.
The TSX has conditionally approved the listing of the common shares underlying the convertible securities and warrants on the TSX. The listing is subject to the company fulfilling all of the requirements of the TSX on or before August 8, 2022.
Funding of the loan is expected to be completed on or before July 15, 2022.
Euro Sun is a mining company focused on the exploration and development of its Rovina Valley gold and copper project in Romania, which hosts the second largest gold deposit in Europe.
Euro Sun Mining Inc. (ESM) is down 4.35 per cent, trading at C$0.11 per share at 2:30 pm ET.
