EurOmax Closes $1.26 Million Financing
|Wednesday, September 13, 2006
EurOmax Resources Ltd. reports that the non-brokered Private Placement announced on September 1, 2006 closed on September 11, 2006. Under this Placement, EurOmax raised gross proceeds of $1,255,800 through the sale of 2,730,000 Units at $.46 per Unit. Each Unit consists of one Common Share and one Warrant. Each Warrant is non transferable and two Warrants entitle the holder to purchase one Common Share at a price of $0.60 until the earlier of: (i) September 12, 2008; and (ii) if the Common Shares of the Corporation have had a closing price in excess of $1.00 for each of 30 consecutive trading days ending after January 12, 2007, the date that is 30 days after notice is given by EurOmax to the holder of the Warrant that the expiry date of the Warrants has been accelerated. The Common Shares issued and any Common Shares issued on the exercise of the Warrants are subject to a 4-month hold period expiring on January 12, 2006.