Latest news with #GrantSboros
Globe and Mail
10-07-2025
- Business
- Globe and Mail
Euro Sun Mining Enters into Facility and Offtake Agreements; Changes Address
TORONTO, July 10, 2025 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc. (TSX: ESM) (' Euro Sun ' or the ' Company ') is delighted to announce that, further to the Company's press release dated June 20, 2025 (the ' June 20 Release ') respecting a financing term sheet, the Company has entered into a pre-development facility agreement dated July 10, 2025 (the ' Facility Agreement ') with Trafigura Pte Ltd. (the ' Lender '), pursuant to which the Lender has made available a facility of up to US$2.5m (the ' Facility '). The Company intends to draw down from the Facility for general corporate purposes while it negotiates the definitive agreement for the copper concentrates prepayment facility of up to US$200m (the ' US$200m Facility ') previously referenced in the June 20 Release. Mr. Grant Sboros, CEO of Euro Sun, commented: 'I am very pleased to announce that we have now signed the definitive facility agreement for a portion of the facility referenced in our previous press release. This is a critical step forward in strengthening our financial foundation and advancing our strategic growth plans. With this financing in place, we are securing the stability and resources needed to negotiate the definitive agreement for the larger US$200m facility to drive forward development of our Rovina Valley copper-gold project.' Other Terms As of the date of this press release, the Company has delivered drawn down utilization requests for the full US$2.5m under the Facility; drawdowns shall be repayable on or (in certain circumstances) prior to June 30, 2027. Subject to a capitalization option, interest is payable quarterly by the Company on the outstanding amount owing under the Facility, calculated based on a market rate of interest. Offtake Agreement The Company has also entered into a binding offtake agreement (the ' Offtake Agreement ') dated July 10, 2025, with the Lender providing for offtake volumes of up to 100% of commercial production for nine years or until minimum aggregate quantities of specified tonnages have been delivered. Pursuant to the Offtake Agreement, certain of the Lender's rights to offtake volumes and minimum aggregate quantities of specified tonnages shall continue after prepayment or repayment of the Facility. The proposed transactions described in the Facility Agreement and Offtake Agreement (the ' Transactions ') are arm's length for purposes of the policies of the Toronto Stock Exchange. Except as described in the June 20 Release respecting the Settlement (as defined in the June 20 Release), no finder's fees are payable in connection with the Transactions. Address Change We are also pleased to announce that the Company has relocated its registered and head office to 289 Courtland Avenue, Vaughan, Ontario, Canada L4K 4W9. This new location, which also serves as the office of the Company's chairman, Carlo LiVolsi, better aligns with the Company's current leadership and operational focus. 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 Project located in west-central Romania, which hosts the second largest copper & gold deposit in Europe. Already granted European strategic status, the Rovina Valley Project is expected to unlock much needed investment and job creation in Hunedoara County and will deliver critical minerals necessary for Europe's green energy transition. Further information: For further information about Euro Sun, or the contents of this press release, please contact Investor Relations at info@ Caution regarding forward-looking information: This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the US$200m Facility, including the Company's ability to enter into a definitive agreement with respect thereto, the receipt of corporate and regulatory approvals, and other matters related thereto. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including receipt of necessary approvals; general business, economic, competitive, political and social uncertainties, both in Romania and the European Union; future commodity prices and market demand; accidents, labour disputes and shortages; risks inherent in the mining industry; and other risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR+ at and on the Company's website at Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable laws.
Yahoo
10-07-2025
- Business
- Yahoo
Euro Sun Mining Enters into Facility and Offtake Agreements; Changes Address
TORONTO, July 10, 2025 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc. (TSX: ESM) ('Euro Sun' or the 'Company') is delighted to announce that, further to the Company's press release dated June 20, 2025 (the 'June 20 Release') respecting a financing term sheet, the Company has entered into a pre-development facility agreement dated July 10, 2025 (the 'Facility Agreement') with Trafigura Pte Ltd. (the 'Lender'), pursuant to which the Lender has made available a facility of up to US$2.5m (the 'Facility'). The Company intends to draw down from the Facility for general corporate purposes while it negotiates the definitive agreement for the copper concentrates prepayment facility of up to US$200m (the 'US$200m Facility') previously referenced in the June 20 Release. Mr. Grant Sboros, CEO of Euro Sun, commented: 'I am very pleased to announce that we have now signed the definitive facility agreement for a portion of the facility referenced in our previous press release. This is a critical step forward in strengthening our financial foundation and advancing our strategic growth plans. With this financing in place, we are securing the stability and resources needed to negotiate the definitive agreement for the larger US$200m facility to drive forward development of our Rovina Valley copper-gold project.' Other Terms As of the date of this press release, the Company has delivered drawn down utilization requests for the full US$2.5m under the Facility; drawdowns shall be repayable on or (in certain circumstances) prior to June 30, 2027. Subject to a capitalization option, interest is payable quarterly by the Company on the outstanding amount owing under the Facility, calculated based on a market rate of interest. Offtake Agreement The Company has also entered into a binding offtake agreement (the 'Offtake Agreement') dated July 10, 2025, with the Lender providing for offtake volumes of up to 100% of commercial production for nine years or until minimum aggregate quantities of specified tonnages have been delivered. Pursuant to the Offtake Agreement, certain of the Lender's rights to offtake volumes and minimum aggregate quantities of specified tonnages shall continue after prepayment or repayment of the Facility. The proposed transactions described in the Facility Agreement and Offtake Agreement (the 'Transactions') are arm's length for purposes of the policies of the Toronto Stock Exchange. Except as described in the June 20 Release respecting the Settlement (as defined in the June 20 Release), no finder's fees are payable in connection with the Transactions. Address Change We are also pleased to announce that the Company has relocated its registered and head office to 289 Courtland Avenue, Vaughan, Ontario, Canada L4K 4W9. This new location, which also serves as the office of the Company's chairman, Carlo LiVolsi, better aligns with the Company's current leadership and operational focus. 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 Project located in west-central Romania, which hosts the second largest copper & gold deposit in Europe. Already granted European strategic status, the Rovina Valley Project is expected to unlock much needed investment and job creation in Hunedoara County and will deliver critical minerals necessary for Europe's green energy transition. Further information: For further information about Euro Sun, or the contents of this press release, please contact Investor Relations at info@ Caution regarding forward-looking information: This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the US$200m Facility, including the Company's ability to enter into a definitive agreement with respect thereto, the receipt of corporate and regulatory approvals, and other matters related thereto. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including receipt of necessary approvals; general business, economic, competitive, political and social uncertainties, both in Romania and the European Union; future commodity prices and market demand; accidents, labour disputes and shortages; risks inherent in the mining industry; and other risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR+ at and on the Company's website at Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Market Online
20-06-2025
- Business
- The Market Online
Top European copper-gold deposit paves path to production
Euro Sun Mining (TSX:ESM) signed a copper concentrates prepayment facility for up to US$200 million with Trafigura Pte The funds will expedite development of Euro Sun's 100-per-cent-owned Rovina Valley project, housing one of the world's largest undeveloped copper-gold deposits and the second-largest in all of Europe Euro Sun Mining stock has added 116.67 per cent year-over-year but remains down by 56.67 per cent since 2020 Euro Sun Mining (TSX:ESM) signed a copper concentrates prepayment facility for up to US$200 million with Trafigura Pte. This facility would allow the company to complete all permitting plus strategic investments at its Rovina Valley copper-gold project in Romania over the next 18 months. Rovina Valley is one of the world's largest undeveloped copper-gold deposits, and the second-largest in all of Europe, housing an estimated 7 million ounces of gold and 233,000 tons of copper. According to Friday's news release, Trafigura will assist with the syndication of a consortium to provide Euro Sun with up to US$200 million in additional debt upon Rovina Valley reaching the construction phase. A separate binding offtake agreement with Trafigura provides up to 100 per cent of commercial production for 7-9 years, subject to minimum agreed upon tonnages. The parties will now work towards a definitive agreement, subject to the satisfaction of Trafigura's ongoing due diligence. An initial US$2.5 million tranche is expected to become available in mid-to-late June 2025. Euro Sun Mining stock has added more than 44 per cent since Rovina Valley was recognized as a strategic asset by the European Union. Leadership insights 'We are very pleased to have signed this term sheet that we believe could significantly strengthen our financial position,' Grant Sboros, Euro Sun Mining's chief executive officer, said in a statement. 'We are working to obtain financial security for all our stakeholders, and a clear financial roadmap to support our strategic growth and advance the long-term vision for our Rovina Valley project.' 'As per our previous press release, the company is advancing with its environmental impact assessment submission and that will be followed with close engagement with Romanian officials to get the legislative outcome the project requires,' Sboros continued. 'Together with our strategic status granted and our financial position closer to being secured, we are on the cusp of being fully equipped to deliver this project for the people of Romania and Europe's benefit.' 'We are pleased to support Euro Sun in advancing the Rovina Valley project, home to the second-largest copper and gold deposits in Europe,' added Ross Ridgway, head of copper at Trafigura. 'As global demand for copper continues to grow—driven by electrification and industrialization—the need for secure, sustainable new sources of supply has rarely been more important.' About Euro Sun Mining Euro Sun is a mining company exploring and developing its 100-per-cent-owned Rovina Valley project in west-central Romania. Euro Sun Mining stock (TSX:ESM) is up by 4 per cent on the news trading at C$0.13 as of 12:55 pm ET. The stock has added 116.67 per cent year-over-year but remains down by 56.67 per cent since 2020. Join the discussion: Find out what everybody's saying about this copper and gold mining stock on the Euro Sun Mining Inc. Bullboard and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Yahoo
19-06-2025
- Business
- Yahoo
Euro Sun Mining Inc. Announces 2025 AGM Voting Results
TORONTO, June 18, 2025 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc. (TSX: ESM) ('Euro Sun' or the 'Company') is pleased to provide the voting results from its 2025 annual general meeting of shareholders in accordance with the policies of the Toronto Stock Exchange. The Company announces that the nominees listed in the management information circular dated May 8, 2025 (the 'Circular') for the 2025 annual general meeting of shareholders of the Company (the 'Meeting') were elected as directors of the Company. Shareholders at the Meeting also approved the appointment of the Company's auditors. Detailed results of the vote for the election of directors held at the Meeting on June 18, 2025 in Toronto, Ontario are set out below. Election of Directors The shareholders approved the election as directors of the persons listed below, based on the following vote. Nominee % Votes For % Votes Against Grant Sboros 98.087 1.913 Neil Said 95.127 4.873 Deborah Battiston 95.109 4.891 Martin Schuermann 95.114 4.886 Carlo Livolsi 98.690 1.310 Shareholders voted 98.524% in favour of the approval of the appointment of the Company's auditors, with 1.476% of shareholders withholding their vote on the appointment of auditors. Euro Sun's board would like to express its gratitude to its shareholders for their participation and support. 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 Project located in west-central Romania, which hosts the second largest copper & gold deposit in Europe. The Rovina Valley Project is expected to unlock much needed investment and job creation in Hunedoara County and, delivers critical minerals necessary for Europe's green energy transition. Further information: For further information about Euro Sun, or the contents of this press release, please contact Investor Relations at info@ The TSX does not accept responsibility for the adequacy or accuracy of this news while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
25-03-2025
- Business
- Yahoo
Euro Sun Mining Included on European Union's List of Strategic Assets
TORONTO, March 25, 2025 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc., (TSX: ESM) ('Euro Sun' or the 'Company') is proud to announce that the company's Rovina Valley Project has been included on the European Union's first list of strategic assets following their May 27, 2024 call for applications under the Critical Raw Materials Act. This decision allows Euro Sun to fast-track the permitting process under new European legislative guidelines to facilitate the development of the Rovina Valley Project. Commentating on this development, Mr. Grant Sboros (CEO Euro Sun) said, 'We are extremely excited by this news, not just for the people of Romania, but also for our loyal and patient shareholders. Euro Sun Mining now has European Union support to help secure permits for a project that can deliver critical raw materials quickly in support of European strategic interests. This news also propels Romania to the forefront of critical raw material supply. On a personal level, I am also so happy that the European Union has recognized the importance of the Rovina Valley Project for Romania and Europe. There is now much work to done, but I would like to take this opportunity to thank our incredible shareholders and organisations like the International Copper Association for their unwavering support.' 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. The Rovina Valley Project unlocks much needed investment and job creation in Hunedoara County and, delivers critical minerals necessary for Europe's green energy transition. Further information: For further information about Euro Sun Mining, or the contents of this press release, please contact Investor Relations at info@ Caution regarding forward-looking information: This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the European Union's decision to include the Rovina Valley Project on the list of Strategic Assets; the benefits to Euro Sun of the inclusion on the list of Strategic Assets; Europe's energy transition and demand for energy metals; environmental impact of the RVP; and development of the RVP. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at and on the Company's website at Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. The TSX does not accept responsibility for the adequacy or accuracy of this news release. A photo accompanying this announcement is available at in to access your portfolio
