Completion of A$1.5M Security Purchase Plan
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$0.195 per CDI.
SPP participants received one free-attaching unlisted warrant per CDI subscribed for, exercisable at CAD$0.225 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$1.5 million ("Offer"). The revised SPP was announced to the market on 1 April 2025 in conjunction with an upsized financing of up to A$12.3 million (C$11.2 million).
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.