07:37 AM EDT, 04/03/2024 (MT Newswires) -- Euro Sun Mining Inc. ( CPNFF ) overnight Tuesday reported the issuance of a convertible promissory note to lenders John Robins and James Paterson. The note provides for a principal amount of US$200,000 ($271,425), and matures on March 22, 2025.

The note bears interest at 6% per annum, compounded monthly, and is secured against all of the assets and property of the company under an amended and restated general security agreement. The principal amount and all interest accrued thereon is convertible into common shares of the company at $0.045 per conversion share.

Euro Sun plans to use the principal amount for working capital costs in Canada and Romania.

The company's stock was down 12.5% in Canada yesterday.