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 completion of its Security Purchase Plan (SPP), raising the targeted A$1.5 million from Australian and New Zealand shareholders.
The offer closed oversubscribed on 9 May 2025, with over A$1.9 million in valid applications received from more than 200 eligible securityholders across Australia and New Zealand. Due to the strong demand, applications were scaled back on an equitable pro rata basis.
Under the SPP, 7,692,307 CHESS Depositary Interests (CDIs) were issued at A$0.195 per CDI. Each new CDI carries one free-attaching unlisted warrant exercisable at CAD$0.225, expiring 23 November 2026.
Funds raised will support the continued development of the Chvaletice Manganese Project - Europe’s only significant manganese resource, including strategic initiatives such as customer offtake negotiations, progressing discussions with potential strategic investors, securing government grants, and general working capital.
Martina Blahova, President and CEO of Euro Manganese, said:
“We are extremely pleased with the strong interest shown by our shareholders in the SPP. We thank shareholders for their ongoing support and look forward to progressing the Chvaletice Manganese Project during this transformational time of the company.”
Settlement of the new securities is expected on 23 May 2025, with quotation on the ASX to follow on or around 26 May 2025. Refunds of excess application monies will be processed by 30 May 2025.
Canaccord Genuity (Australia) Limited and Foster Stockbroking Pty Ltd acted as Joint Lead Managers to the Offer, with MinterEllison as legal counsel.
ENDS
For more information, please contact:
Investor & Media Relations
Jane Morgan
Director
P: +61 405 555 618
[email protected]
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]