Euro Sun Mining Inc. announced that it will issue a debenture to certain lenders for a principal amount of $660,000 on December 6, 2023. The company will also issue an aggregate amount of 20,000,000 warrants of the company to the lenders. The debenture will maturing on June 15, 2024.

The debenture is non-interest bearing and is secured against all of the assets and property of the company pursuant to a general security agreement. The transaction will be completed in two tranches, with the first tranche of $115,000 is completed upon execution of the debenture and a second trance of $545,000 is completed by December 15, 2023. Each warrant will entitle the holder thereof to acquire one additional common Share of the company at an exercise price of $0.0368395 (CAD 0.05) per common share until December 6, 2026.

All warrants and securities issuable thereunder are subject to a hold period of four months and one day from the date of issuance.