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Highlights

  • Euro Manganese raises A$1.5 million through a successful Security Purchase Plan (SPP)
  • 204 applications received, totaling approximately A$1.94 million, subject to scale-back
  • Proceeds to support Chvaletice Project, customer negotiations, and strategic initiatives

Euro Manganese Inc. (TSXV: EMN, ASX: EMN) has successfully completed its Security Purchase Plan (SPP), raising the maximum targeted amount of A$1.5 million. This move follows the company’s previously announced upsized financing plan of up to A$12.3 million (C$11.2 million) and will directly fund the advancement of the Chvaletice Manganese Project in the Czech Republic.

The SPP received strong support from eligible Australian and New Zealand securityholders, with 204 applications totalling approximately A$1.94 million. Due to the oversubscription, Euro Manganese scaled back the applications in line with the terms of the SPP. Applications for A$2,000 worth of new CHESS Depository Interests (CDIs) were allocated in full, while larger applications were proportionally reduced based on the applicants’ holdings as of the record date.

Each new CDI issued under the SPP has an attached unlisted warrant, exercisable at CAD$0.225 until November 2026. The funds raised will support the ongoing development of the Chvaletice Manganese Project, advance customer offtake negotiations, pursue local and EU grants, and fund general working capital.

The settlement of the new securities is expected on 23 May 2025, with the CDIs being quoted on ASX around 26 May 2025. Refunds for excess application funds resulting from the scale-back will be issued by 30 May 2025.

Euro Manganese is advancing its strategic plans to become a key player in the battery materials sector, focusing on high-purity manganese production for the electric vehicle industry. The company’s efforts at Chvaletice represent a key component of its long-term development strategy.