Euro Manganese Inc (ASX:EMN, TSX-V:EMN, OTCQX:EUMNF) has closed a C$8,499,500 strategic equity investment with the European Bank for Reconstruction and Development (EBRD).
The battery materials company issued 17.8 million EMN shares at C$0.4775 apiece to the EBRD via a private placement.
Thanks to the investment, the multilateral bank now holds around 4.4% of Euro’s shares.
EMN will use the funding runway to help finance its cornerstone Chvaletice Manganese Project in the Czech Republic.
The cash injection will support a feasibility study, site preparation and operating costs for the demonstration plant and environmental works, including permitting and other activities related to the final environmental and social impact assessment.
EMN will also issue 534,000 shares, priced as above, to EIT InnoEnergy. Altogether, the shares are valued at C$254,985 — representing a ‘finder’s fee’ that’s equivalent to 3% of the placement’s gross proceeds.
CEO Matt James to host EMN’s first quarterly investor call
Euro Manganese has also announced it will host its maiden quarterly investor call at 1:30 pm Pacific Time on Monday, February 14, 2022.
CEO Matt James will provide an overview of the company’s activities, including an operational update on the Chvaletice Manganese Project and upcoming milestones.
The chief executive will take questions from investors after the presentation.
Full details are outlined below:
- For North America and Europe: Monday, February 14, 2022 — 1:30 pm Pacific Time | 4:30 pm Eastern Time | 9:30 pm GMT
- For Australia: Tuesday, February 15, 2022 — 8:30 am AEDT
- Meeting link: https://edge.media-server.com/mmc/p/uwyf46bn
Dial-in numbers (for participants who wish to ask questions):
AUSTRALIA - Participant Toll-Free Dial-In Number: (1800) (005989)
US/CANADA - Participant Toll-Free Dial-In Number: (855) 702-9142
US/CANADA - Participant International Dial-In Number: (478) 219-0702
Conference ID: 8265260
About Euro Manganese
Euro Manganese is a battery materials company whose principal focus is advancing the Chvaletice Manganese Project, in which it holds a 100% interest.
The proposed project entails re-processing a significant manganese deposit hosted in mine tailings from a decommissioned mine, strategically located in the Czech Republic.
The company’s goal is to become a leading, competitive and environmentally superior primary producer of ultra-high-purity manganese products in the heart of Europe, serving the lithium-ion battery industry, as well as other high-technology applications.