TORONTO, Ontario — December 18, 2025 — Leads & Copy — Euro Sun Mining Inc. (TSX: ESM) has entered into definitive agreements to amend and restate the pre-development facility agreement with Trafigura Pte Ltd. to secure up to US$200 million for the Rovina Valley copper-gold project in Romania.
The agreement, initially executed on July 10, 2025, and now amended and restated as the “Multi-Facility Agreement,” aims to support the advancement and future construction of the project. Trafigura intends to assist Euro Sun in sourcing additional financing upon reaching the construction phase.
The Multi-Facility Agreement includes a fully drawn down first tranche (“Tranche A”) from mid-2025. An additional US$17.5 million tranche (“Tranche B”) may be drawn down by June 30, 2027, and a final US$180 million tranche may be drawn down by June 30, 2031 (“Tranche C”). These drawdowns are contingent upon satisfying several conditions, including completion of land purchases, environmental and social impact assessments, and receipt of regulatory authorizations.
Drawdowns under Tranche A and Tranche B are repayable on June 30, 2027, subject to automatic extensions in certain circumstances. Drawdowns under Tranche C are repayable on June 30, 2031. Interest is payable quarterly on the outstanding amount, calculated based on a market rate, subject to a capitalization option. The facility is secured by all present and after-acquired assets of Euro Sun and its subsidiaries.
Euro Sun has also issued 22 million warrants to Trafigura. Of these, 2.75 million vested immediately, 2.20 million vest upon a drawdown under Tranche B, and the remaining 17.05 million vest upon a drawdown under Tranche C. Each warrant allows Trafigura to acquire one common share at $0.50 per warrant until June 30, 2029. Trafigura may elect a net cash settlement option, subject to certain payment deferral rights.
The transactions described in the Multi-Facility Agreement are arm’s length for Toronto Stock Exchange (TSX) purposes. The warrant issuance is subject to final TSX approval, and no finder’s fees are payable.
Grant Sboros, CEO of Euro Sun, expressed satisfaction with securing the US$200 million facility, stating it reinforces the company’s balance sheet and progresses its development strategy for the Rovina Valley copper-gold project.
Euro Sun Mining Inc. focuses on the exploration and development of its 100%-owned Rovina Valley Project in west-central Romania, which hosts the second largest copper & gold deposit in Europe. The Rovina Valley Project has been granted European strategic status and is expected to stimulate investment and job creation in Hunedoara County, while delivering minerals for Europe’s green energy transition.
For further information about Euro Sun, or the contents of this press release, please contact Investor Relations at info@eurosunmining.com.
Source: Euro Sun Mining Inc.
