05:22 PM EST, 01/14/2025 (MT Newswires) -- Euromax Resources ( EOXFF ) after close of trade Tuesday said it entered into a debt settlement agreement to settle a portion of the debt owed to the European Bank for Reconstruction and Development (EBRD) under the convertible debenture issued by the company for USD$5 million.

Euromax will be paying off $355,484.65 representing a portion of the interest owed to EBRD under the debenture.

In addition, Euromax will be issuing to EBRD 23.69-million shares at a deemed price of $0.015 per share.