Sydney, Australia – Euro Manganese Inc. (TSXV/ASX:EMN; Frankfurt: E060), a battery materials company focused on producing high-purity manganese for the electric vehicle (EV) industry, is pleased to announce the successful closure of a A$12.3 million (approx. C$11.2 million) equity financing, a key step forward in advancing its flagship Chvaletice Manganese Project in the Czech Republic.
The raise includes an upsized C$9.8 million (A$10.8 million) private placement and an oversubscribed A$1.5 million share purchase plan (SPP). The financing welcomed two significant new investors – the European Bank for Reconstruction and Development (EBRD) and well-known mining investor Eric Sprott, who are now among Euro Manganese’s largest shareholders.
Euro Manganese President and CEO Martina Blahova confirmed:
“We are extremely pleased with the strong support demonstrated by both our existing shareholders and new investors, including the notable participation of Mr. Eric Sprott. As Euro Manganese’s largest shareholder, EBRD’s investment reinforces its support and commitment to the Chvaletice Project. This critical financing enables the Company to pursue certain key milestones and advance project development. We thank shareholders for their ongoing support.”
Proceeds will be used to progress development at Chvaletice, including advancing permitting, operating the demonstration plant to support product qualification with prospective customers, and securing offtake and strategic partnership agreements.
Financing Overview
-
C$9.8 million Private Placement: Issued 54.6 million new securities (including CDIs) with one free-attaching warrant per security, exercisable at C$0.225 until November 2026.
-
A$1.5 million Share Purchase Plan: Oversubscribed by eligible shareholders in Australia, also with one free-attaching warrant per CDI.
-
New Major Shareholders:
-
EBRD: Invested C$3.85 million, increasing its holding to ~17.5% of Euro Manganese.
-
Eric Sprott: Invested C$3 million for a ~11.7% stake (non-diluted).
-
-
Joint Lead Managers: Canaccord Genuity (Australia), Canaccord Genuity and Foster Stockbroking.
The Company also issued broker warrants and additional warrants to partners and strategic investors, including Orion Resource Partners, under existing agreements.
ENDS
About us:
Euro Manganese is a battery materials company focused on becoming a leading producer of high-purity manganese for the electric vehicle industry. The Company is advancing development of the Chvaletice Manganese Project in the Czech Republic and an early-stage opportunity to produce battery-grade manganese products in Bécancour, Québec.
The Chvaletice Project is a unique waste-to-value recycling and remediation opportunity involving reprocessing old tailings from a decommissioned mine. It is also the only sizable resource of manganese in the European Union, strategically positioning the Company to provide battery supply chains with critical raw materials to support the global shift to a circular, low-carbon economy.
Contact details:
Jane Morgan
Director
P: +61 405 555 618
[email protected]