Euro Manganese Announces Grant of Stock Options

Rhea-AI Summary

Euro Manganese Inc. (EUMNF) announced the grant of stock options to employees, allowing the purchase of up to 500,000 common shares at an exercise price of $0.59, with options vesting over three years. The company also canceled 484,669 unvested stock options previously held by former employees and directors. Euro Manganese is focused on advancing its Chvaletice Manganese Project in the Czech Republic, which is aimed at producing ultra-high-purity manganese products for the lithium-ion battery industry.

Positive

• Granting of stock options indicates confidence in employee contributions.
• Focus on Chvaletice Manganese Project aligns with growing battery materials market.

Negative

• Cancellation of 484,669 unvested stock options may indicate turnover or restructuring.

VANCOUVER, British Columbia, June 22, 2021 (GLOBE NEWSWIRE) -- Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF) (the "Company" or "EMN"), announces that it has granted stock options to certain employees to purchase up to an aggregate of 500,000 common shares of the Company. The stock options are exercisable for a term of ten years at an exercise price of $0.59 per common share. The options will vest one-third on the date of grant, and one-third on each of the first and second anniversaries of the date of grant.

The Company also announces the cancellation of 484,669 unvested stock options held by former employees, directors and consultants of the Company.

About Euro Manganese:

Euro Manganese Inc. is a battery materials company whose principal focus is advancing the development of 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.

This announcement was authorized for release by the CEO of Euro Manganese Inc.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), or the ASX accepts responsibility for the adequacy or accuracy of this release.

Contact: Euro Manganese Inc.
Marco A. Romero	Fausto Taddei
President & CEO	Vice President, Corporate Development
+1 (604)-681-1010 ext. 101	& Corporate Secretary +1 (604)-681-1010 ext. 105
Media inquiries:
Ron Shewchuk
Director of Communications
+1 604-781-2199

E-mail: info@mn25.ca
Website: www.mn25.ca
Company Address:  
#709 -700 West Pender St., Vancouver, British Columbia, Canada, V6C 1G8

 

FAQ

What stock options did Euro Manganese announce on June 22, 2021?

Euro Manganese announced it granted stock options for 500,000 common shares at an exercise price of $0.59, vesting over three years.

What is the purpose of the Chvaletice Manganese Project by Euro Manganese?

The Chvaletice Manganese Project aims to re-process manganese deposits from mine tailings to produce ultra-high-purity manganese products for the battery industry.

How many stock options were canceled by Euro Manganese?

Euro Manganese canceled 484,669 unvested stock options held by former employees and directors.

What does the stock symbol EUMNF represent?

EUMNF represents Euro Manganese Inc., traded on the OTCQX.