Completion of A$1.5M Security Purchase Plan
Euro Manganese (EUMND) has successfully completed its Security Purchase Plan (SPP), raising A$1.5 million through the issue of 7,692,307 CDIs at A$0.195 per CDI. The SPP was oversubscribed, receiving approximately A$1.937 million in valid applications from over 200 eligible shareholders in Australia and New Zealand.
Each CDI comes with one free-attaching unlisted warrant, exercisable at CAD$0.225 and expiring on November 23, 2026. Due to oversubscription, applications were scaled back on a pro-rata basis, with a minimum allocation of A$2,000 per eligible shareholder maintained.
The funds will support the development of the Chvaletice Manganese Project in the Czech Republic, customer offtake negotiations, strategic investor pursuit, EU-level grant applications, and working capital requirements. Settlement of new securities is expected on May 23, 2025, with ASX quotation around May 26, 2025.
Euro Manganese (EUMND) ha completato con successo il suo Security Purchase Plan (SPP), raccogliendo 1,5 milioni di dollari australiani tramite l'emissione di 7.692.307 CDI al prezzo di 0,195 dollari australiani per CDI. L'SPP ha ricevuto un'elevata domanda, con circa 1,937 milioni di dollari australiani in domande valide da oltre 200 azionisti idonei in Australia e Nuova Zelanda.
Ogni CDI include un warrant non quotato gratuito, esercitabile a 0,225 dollari canadesi e con scadenza il 23 novembre 2026. A causa della sovrapposizione delle richieste, le domande sono state ridotte proporzionalmente, garantendo un'allocazione minima di 2.000 dollari australiani per ogni azionista idoneo.
I fondi saranno utilizzati per sostenere lo sviluppo del progetto manganese di Chvaletice nella Repubblica Ceca, le trattative per l'acquisto da parte dei clienti, la ricerca di investitori strategici, le domande di sovvenzioni a livello UE e le esigenze di capitale circolante. Il regolamento delle nuove azioni è previsto per il 23 maggio 2025, con la quotazione su ASX intorno al 26 maggio 2025.
Euro Manganese (EUMND) ha completado con éxito su Plan de Compra de Valores (SPP), recaudando 1,5 millones de dólares australianos mediante la emisión de 7.692.307 CDIs a 0,195 dólares australianos por CDI. El SPP estuvo sobresuscrito, recibiendo aproximadamente 1,937 millones de dólares australianos en solicitudes válidas de más de 200 accionistas elegibles en Australia y Nueva Zelanda.
Cada CDI incluye un warrant no listado gratuito, ejercitable a 0,225 dólares canadienses y con vencimiento el 23 de noviembre de 2026. Debido a la sobresuscripción, las solicitudes se redujeron de manera proporcional, manteniendo una asignación mínima de 2.000 dólares australianos por accionista elegible.
Los fondos apoyarán el desarrollo del Proyecto de Manganeso Chvaletice en la República Checa, las negociaciones de compra con clientes, la búsqueda de inversores estratégicos, las solicitudes de subvenciones a nivel de la UE y las necesidades de capital de trabajo. Se espera que la liquidación de los nuevos valores ocurra el 23 de mayo de 2025, con la cotización en ASX alrededor del 26 de mayo de 2025.
Euro Manganese(EUMND)는 증권 구매 계획(SPP)을 성공적으로 완료하여 1.5백만 호주 달러를 모금하였으며, 7,692,307 CDIs를 CDI당 0.195 호주 달러에 발행하였습니다. 이번 SPP는 초과 청약되었으며, 호주와 뉴질랜드의 200명 이상의 적격 주주로부터 약 1.937백만 호주 달러의 유효 신청서를 받았습니다.
각 CDI에는 만료일이 2026년 11월 23일이고 행사 가격이 0.225 캐나다 달러인 무상 부착 비상장 워런트가 포함되어 있습니다. 초과 청약으로 인해 신청은 비례 배분 방식으로 조정되었으며, 적격 주주당 최소 2,000 호주 달러의 배정이 유지되었습니다.
자금은 체코 공화국의 Chvaletice 망간 프로젝트 개발, 고객 오프테이크 협상, 전략적 투자자 유치, EU 수준의 보조금 신청 및 운전자본 요구사항을 지원하는 데 사용될 예정입니다. 신규 증권의 결제는 2025년 5월 23일에 이루어질 예정이며, ASX 상장은 2025년 5월 26일경에 이루어질 것으로 예상됩니다.
Euro Manganese (EUMND) a mené à bien son Plan d'Achat de Titres (SPP), levant 1,5 million de dollars australiens par l'émission de 7 692 307 CDIs au prix de 0,195 dollar australien par CDI. Le SPP a été sursouscrit, recevant environ 1,937 million de dollars australiens en demandes valides de plus de 200 actionnaires éligibles en Australie et en Nouvelle-Zélande.
Chaque CDI est assorti d'un warrant non coté gratuit, exerçable à 0,225 dollar canadien et expirant le 23 novembre 2026. En raison de la sursouscription, les demandes ont été réduites au prorata, avec une allocation minimale de 2 000 dollars australiens par actionnaire éligible maintenue.
Les fonds serviront à soutenir le développement du projet de manganèse de Chvaletice en République tchèque, les négociations d'achat avec les clients, la recherche d'investisseurs stratégiques, les demandes de subventions au niveau de l'UE et les besoins en fonds de roulement. Le règlement des nouvelles valeurs mobilières est prévu pour le 23 mai 2025, avec une cotation à l'ASX autour du 26 mai 2025.
Euro Manganese (EUMND) hat seinen Security Purchase Plan (SPP) erfolgreich abgeschlossen und dabei 1,5 Millionen AUD durch die Ausgabe von 7.692.307 CDIs zu je 0,195 AUD pro CDI eingenommen. Der SPP war überzeichnet und erhielt gültige Anträge in Höhe von etwa 1,937 Millionen AUD von über 200 berechtigten Aktionären in Australien und Neuseeland.
Jeder CDI ist mit einem kostenlosen, nicht börsennotierten Warrant ausgestattet, der zu CAD 0,225 ausgeübt werden kann und am 23. November 2026 verfällt. Aufgrund der Überzeichnung wurden die Anträge anteilig gekürzt, wobei eine Mindestzuteilung von 2.000 AUD pro berechtigtem Aktionär beibehalten wurde.
Die Mittel werden die Entwicklung des Chvaletice-Manganprojekts in der Tschechischen Republik, Kundenabnahmeverhandlungen, die Suche nach strategischen Investoren, EU-weite Förderanträge und den Kapitalbedarf für das Working Capital unterstützen. Die Abwicklung der neuen Wertpapiere wird voraussichtlich am 23. Mai 2025 erfolgen, die ASX-Notierung etwa am 26. Mai 2025.
- Strong investor interest with SPP oversubscribed by A$437,000
- Each CDI includes a free-attaching warrant, providing additional potential value for investors
- Funds will support strategic initiatives including project development and customer negotiations
- Dilution of existing shareholders through new share issuance
- Scale-back of applications required due to oversubscription
- Additional shareholder approval required at AGSM for previously announced financing
Highlights
SPP closed with an oversubscription on 9 May 2025, with more than A
$1.9 million received from valid applications from over 200 Eligible Securityholders (defined below) in Australia and New Zealand.SPP raised a maximum amount of A
$1.5 million through the issue of 7,692,307 CDIs at A$0.19 5 per CDI.SPP participants received one free-attaching unlisted warrant per CDI subscribed for, exercisable at CAD
$0.22 5 and expiring on 23 November 2026.Scale-back of oversubscriptions was undertaken on a pro rata equitable basis, subject to a minimum allocation of A
$2,000 per Eligible Securityholder.Funds raised from the SPP will support the ongoing development of the Chvaletice Manganese Project and related strategic initiatives.
Vancouver, British Columbia--(Newsfile Corp. - May 15, 2025) - Euro Manganese Inc. (TSXV: EMN) (ASX: EMN) (FSE: E060) (TSXV and ASX: EMN; Frankfurt:E060) (the "Company" or "Euro Manganese") is pleased to announce the successful completion of its Security Purchase Plan ("SPP"), raising the maximum targeted amount of A
Proceeds from the SPP will be used to advance the development of the Company's Chvaletice Manganese Project in the Czech Republic, support customer offtake negotiations, progress towards securing a strategic investor, pursue grants at the local and EU level, and fund general working capital requirements.
Euro Manganese received strong support from eligible Australian and New Zealand securityholders ("Eligible Securityholders") under the SPP, with 204 eligible applications totalling approximately A
As the total value of applications received exceeded the revised SPP size of A
Applications for A
$2,000 of new CDIs (being the minimum amount) received from Eligible Securityholders were not subject to any scale-back and will receive A$2,000 of new CDIs, rounded up to reflect a whole number of CDIs; andApplications received from Eligible Securityholders for more than A
$2,000 of new CDIs were scaled back (28.6% of any SPP subscription amounts between A$2,000 and A$30,000) on a pro rata basis based on the securityholding of eligible applicants as at the Record Date1.
The SPP was conducted pursuant to a Prospectus dated 23 April 2025 and follows the Company's previously announced financing, which is also subject to shareholder approval at the Annual General and Special Meeting ("AGSM") scheduled for 15 May 2025 (Vancouver time) under ASX Listing Rules 7.1, 10.11.1 and 10.11.4.
Settlement of the new securities under the SPP is expected to occur on 23 May 2025, with quotation of the new CDIs on ASX to follow on or around 26 May 2025 (Vancouver time).
Excess application money resulting from the scale-back will be refunded to each applicant prior to 30 May 2025 in accordance with the instructions provided to Euro Manganese's share registry, Computershare.
Euro Manganese CEO Martina Blahova commented. "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."
Canaccord Genuity (Australia) Limited and Foster Stockbroking Pty Ltd acted as Joint Lead Managers to the Offer and Minter Ellison as legal counsel.
Authorised for release by the President and CEO of Euro Manganese Inc.
About Euro Manganese
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.
Euro Manganese is dual listed on the TSX-V and the ASX.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) or the ASX accepts responsibility for the adequacy or accuracy of this release.
Enquiries
LodeRock Advisors
Neil Weber
Investor and Media Relations - North America
+1 (647) 222-0574
neil.weber@loderockadvisors.com
Jane Morgan Management
Jane Morgan
Investor and Media Relations - Australia
+61 (0) 405 555 618
jm@janemorganmanagement.com.au
Company Address: #709 -700 West Pender St., Vancouver, British Columbia, Canada, V6C 1G8
Website: www.mn25.ca
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Forward-Looking Statements
Certain statements in this news release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company, its Chvaletice Project, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company.
Forward looking statements include statements regarding completion of SPP and timing and issuance of CDIs and warrants, completion of previously announced financing, the Company's ability to advance the development of the Chvaletice Project, enter into offtake term sheets, advance process to secure a strategic investor, ability to obtain any grant funding, and navigate current market conditions. All forward-looking statements are made based on the Company's current beliefs including various assumptions made by the Company, including that the Chvaletice Project will be developed and operate as planned, the Company will obtain sufficient financing, and that the Company will be able to meet the conditions of its secured financing. Factors that could cause actual results or events to differ materially from current expectations include, among other things: insufficient working capital; inability to meet the conditions of its secured financing, risks due to granting security, lack of availability of financing for developing and advancing the Chvaletice Project; the potential for unknown or unexpected events to cause contractual conditions to not be satisfied; developments in EV (Electric Vehicles) battery markets and chemistries; risks related to fluctuations in currency exchange rates; and regulation and changes in laws by various governmental agencies. For a further discussion of risks relevant to the Company, see "Risk Factors" in the Company's annual information form for the year ended September 30, 2024, available on the Company's SEDAR+ profile at www.sedarplus.ca.
Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
________________________
1 Record Date being Wednesday 5 March 2025.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252189
FAQ
How much did Euro Manganese (EUMND) raise in its Security Purchase Plan?
What is the exercise price and expiry date for EUMND's SPP warrants?
How will Euro Manganese use the funds from the SPP?
When will EUMND's new CDIs begin trading on the ASX?
How was the EUMND SPP scale-back structured?
