BUCHAREST (Romania), November 19 (SeeNews) - Canada's Euro Sun Mining said on Tuesday it intends to complete a non-brokered private placement financing of up to C$3.75 million (3.39 million euro) for the advancement of its Rovina Valley Project in Romania and for general corporate purposes.
The offering will be a non-brokered private placement financing of up to 15 million units of the company at a price of C$0.25 per unit, Euro Sun said in a press release.
Closing of the offering is expected to occur on or about December 3, 2019.
In another press release issued also on Tuesday, the offer was for up to C$2 million, but later in the day the company said it has decided to upsize it to C$3.75 million.
Earlier this month, Euro Sun announced that it has discovered four new gold-copper porphyries at its Stanija prospecting permit (PP) in Romania, adjacent to its Rovina Valley Gold project.
Euro Sun is a Toronto Stock Exchange-listed mining company focused on the exploration and development of its 100%-owned Rovina Valley Gold and Copper Project located in west-central Romania. The property hosts 10.11 million ounces of gold equivalent.
Formerly known as Carpathian Gold, Euro Sun changed its brand identity in September 2016.
In April, Euro Sun announced that its 100% owned Romanian subsidiary Samax Romania has received authorization to begin mining activities at its Rovina Valley Project from the NAMR.
($= 0.9034 euro)