Euro Sun Mining Inc (CPNFF)

[Alexulf]

Euro Sun Announces $1 Million Private Placement
03/23/2023

NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES
TORONTO, March 23, 2023 (GLOBE NEWSWIRE)

-- Euro Sun Mining Inc., (TSX: ESM) (“Euro Sun” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement financing of up to 20,000,000 units of the Company (the “Units”) at a price of C$0.05 per Unit for gross proceeds to the Company of up to approximately C$1 million (the “Offering”). Each Unit will consist of one common share of Euro Sun and one-half common share purchase warrant of Euro Sun (“Warrant”). Each Warrant will be exercisable to acquire one common share of Euro Sun at a price of C$0.075 per share for 24 months from the closing of the Offering.

Closing of the Offering is expected to occur on or about April 14, 2023 and may close in one or more tranches. All securities issued in connection with the Offering will be subject to a statutory hold period of four-months and one day. Completion of the Offering is subject to a number of conditions, including without limitation, receipt of Toronto Stock Exchange approval.

Euro Sun intends to use the proceeds of the Offering for general corporate purposes.

The Company may pay finder’s fees to eligible finders in accordance with the policies of the Toronto Stock Exchange.

About Euro Sun Mining Inc.

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, which hosts the second largest gold deposit in Europe.