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TORONTO, July 26, 2024 (GLOBE NEWSWIRE) — Euro Solar Mining Inc., (TSX: ESM) (“Euro Solar” or the “Firm”) is happy to announce that additional to its press launch on June 10, 2024, it has now accomplished the submission of its utility (the “Software”) to the European Fee for the Rovina Valley Challenge to be designated as a “strategic venture” inside the European Fee’s Vital Uncooked Supplies Act (the “CRMA”). The Software is supported by the Romanian Ministry of Financial system and represents a major achievement in progressing the Rovina Valley Challenge, as a “strategic venture” designation would speed up the event of the Rovina Valley Challenge to be a essential provider of supplies, particularly copper, inside the European Union’s provide chain.
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Mr. Grant Sboros, the Chief Government Officer of the Firm, said “Because the adoption of the CRMA in March 2024, the Firm has labored tirelessly on the Software. We’re excited to have submitted it in file timing and with the assist of the Romanian authorities. We sit up for shifting ahead the Software inside the CRMA framework to have the Rovina Valley Challenge be deemed a “strategic venture”.”
Conversion of US$725,000 Promissory Notes
The Firm can be happy to announce that it has accomplished the conversion of an combination principal quantity of US$725,000 plus all accrued curiosity thereon of promissory notes issued by the Firm (see press releases dated March 1, 2024, April 2, 2024, April 29, 2024 and June 4, 2024) (collectively, the “Notes”) by issuing to the lenders (the “Lenders”) thereof an combination quantity of 19,769,833 widespread shares of the Firm (the “Conversion Shares”) (the “Conversion”). This represents a median weighted worth of $0.052 per Conversion Share, an roughly 30% premium over the closing worth of the widespread shares of the Firm. In reference to the Conversion, the Lenders have launched its safety over the property and property of the Firm.
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Mr. Sboros said “It was a pleasure to work with John Robins and Jim Patterson over the previous few months, together with having them on the Rovina Valley Challenge for a web site go to. We’re extraordinarily glad to have them be a part of the Firm’s shareholder base given their wealth of expertise in growing mineral initiatives internationally. We admire their continued assist because the Firm continues to develop the Rovina Valley Challenge.”
About Euro Solar Mining Inc.
Euro Solar is a Toronto Inventory Change listed mining firm targeted on the exploration and growth of its 100%-owned Rovina Valley gold and copper venture positioned in west-central Romania, which hosts the second largest gold deposit in Europe.
Additional info:
For additional details about Euro Solar Mining, or the contents of this press launch, please contact Investor Relations at data@eurosunmining.com
Warning concerning forward-looking info:
This press launch comprises “forward-looking info” inside the that means of relevant Canadian securities laws. Ahead-looking info contains, with out limitation, the Software below the CRMA and the Conversion different components which will trigger the precise outcomes, stage of exercise, efficiency or achievements of the Firm to be materially completely different from these expressed or implied by such forward-looking info, together with dangers inherent within the mining trade and dangers described within the public disclosure of the Firm which is out there below the profile of the Firm on SEDAR+ at www.sedarplus.ca
and on the Firm’s web site at www.eurosunmining.com. Though the Firm has tried to establish essential components that would trigger precise outcomes to vary materially from these contained in forward-looking info, there could also be different components that trigger outcomes to not be as anticipated, estimated or meant. There might be no assurance that such info will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, readers mustn’t place undue reliance on forward-looking info. The Firm doesn’t undertake to replace any forward-looking info, besides in accordance with relevant securities legal guidelines.
The TSX doesn’t settle for duty for the adequacy or accuracy of this information launch.
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