Euro Manganese Engages ICP Securities Inc. for Automated Market Making Services

Rhea-AI Summary

Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQB: EUMNF; Frankfurt: E06) has engaged ICP Securities Inc. to provide automated market making services for its stock. The agreement, starting August 26, 2024, includes the use of ICP's proprietary algorithm, ICP Premium™. Key points:

• Monthly fee: CAD$7,500
• Initial term: 3 months, automatically renewable for 1-month terms
• No performance factors or equity-based compensation
• Subject to TSXV approval

ICP's role will be to correct temporary supply and demand imbalances in EMN's shares, with ICP responsible for associated costs. The agreement aims to enhance liquidity and trading efficiency for Euro Manganese's stock.

Positive

• Engagement of automated market making services to improve stock liquidity
• Use of proprietary algorithm ICP Premium™ for efficient market making
• No equity-based compensation, preserving shareholder value

Negative

• Additional monthly expense of CAD$7,500 for market making services

VANCOUVER, British Columbia, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQB: EUMNF; Frankfurt: E06) (the "Company" or "EMN") is pleased to announce that it has engaged the services of ICP Securities Inc. ("ICP") to provide automated market making services, including use of its proprietary algorithm, ICP Premium™, in compliance with the policies and guidelines of the TSX Venture Exchange ("TSXV") and other applicable legislation.

Under terms of the agreement, ICP will be paid a monthly fee of CAD$7,500. The agreement between the Company and ICP was signed with a start date of August 26, 2024, and is for three months (the "Initial Term") and shall be automatically renewed for subsequent one (1) month terms (each month called an "Additional Term") unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable. There are no performance factors contained in the agreement and no other forms of equity based compensation granted in connection with the Agreement. ICP and its clients may choose to acquire an interest in the securities of the Company in the future.

This appointment is subject to TSXV approval.

ICP is an arm’s length party to the Company. ICP’s market making activity will be primarily to correct temporary imbalances in the supply and demand of the Company’s shares. ICP will be responsible for the costs it incurs in buying and selling the Company’s shares, and no third party will be providing funds or securities for the market making activities.

About ICP Securities Inc.

ICP Securities Inc. is a Toronto based CIRO dealer-member that specializes in automated market making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium™, that enhances liquidity and quote health. Established in 2023, with a focus on market structure, execution, and trading, ICP has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.

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 Venture and the ASX.

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.

Inquiries

Dr. Matthew James
President & CEO
mjames@mn25.ca

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

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.

Forward looking statements or information relate to, among other things, the successful appointment of ICP Securities, and the ability of ICP Securities to to correct what the Company believes are temporary imbalances in the supply and demand of the Company’s shares. These forward-looking statements are based on management’s current expectations and beliefs, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. 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, 2023, available on the Company's SEDAR+ profile at www.sedarplus.ca. 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.

FAQ

What automated market making services has Euro Manganese (EUMNF) engaged?

Euro Manganese (EUMNF) has engaged ICP Securities Inc. to provide automated market making services, including the use of their proprietary algorithm, ICP Premium™, starting August 26, 2024.

How much will Euro Manganese (EUMNF) pay for the market making services?

Euro Manganese (EUMNF) will pay a monthly fee of CAD$7,500 to ICP Securities Inc. for their automated market making services.

What is the duration of Euro Manganese's (EUMNF) market making agreement with ICP Securities?

The initial agreement is for three months, starting August 26, 2024, and will automatically renew for subsequent one-month terms unless either party provides 30 days written notice.

Does the market making agreement for Euro Manganese (EUMNF) include any performance factors or equity-based compensation?

No, the market making agreement for Euro Manganese (EUMNF) does not include any performance factors or equity-based compensation.