Euro Manganese Announces Early Appointment of Chairman and Provides Financing Update
Euro Manganese Announces Early
Appointment of Chairman and Provides
Financing Update
Highlights
Mr. Rick Anthon, a veteran battery metals executive with over 30 years of industry experience,
appointed as Chairman
Euro Manganese's previously announced C$11.2 million (A$12.3 million) financing has received
conditional approval from the TSX Venture Exchange
Share Purchase Plan for certain eligible shareholders for proceeds of A$1.5 million (C$1.4 million)
to be launched on April 28, 2025
Annual General and Special Meeting of shareholders to be held on May 15, 2025
Vancouver, British Columbia--(Newsfile Corp. - April 14, 2025) - Euro Manganese Inc. (TSXV: EMN)
(ASX: EMN) (FSE: E060) (the "
Company
" or "
Euro Manganese
") is pleased to announce that Mr.
Rick Anthon has been appointed Chairman of the Board of Directors (the
"Board
") as of April 11, 2025
(Vancouver).
In addition, the Company is providing an update on the Company's
previously announced
upsized C$11.2 million (A$12.3 million) brokered unit private placement financing (the "
Financing
").
Appointment of New Chairman
Mr. Anthon was originally expected to join the Board upon the closing of the Financing, which is now
anticipated to close on or about May 22, 2025, subject to shareholder approval. However, his
appointment has been brought forward following unanimous approval by the other directors. The
Company's current Chairman, Mr. John Webster, is stepping down as Chairman but will remain on the
Board and as Chair of the Audit Committee.
Mr. Anthon's appointment comes at a pivotal time for Euro Manganese as it advances the development
of its Chvaletice Manganese Project. His addition to the Board brings decades of battery metals
experience and reflects the Company's continued focus on building a strong leadership platform to
support its role as a key contributor to Europe's battery materials supply chain.
Martina Blahova, Interim CEO of Euro Manganese, commented,
"Rick's early appointment reflects
the confidence we've built with key stakeholders and our focus on execution. His depth of experience
in the resource sector and proven leadership will be invaluable as we continue to scale the Chvaletice
Project and deliver on our strategic priorities. On behalf of the Board, we would like to express our
gratitude to John for his outstanding contribution to Euro Manganese during his tenure as Chairman,
and his exceptional stewardship during these recent transformative years. We look forward to
continuing to receive his guidance and support as a director and as Chair of the Audit Committee."
Rick Anthon, Euro Manganese's new Chairman said,
"I am honoured to step into the role of
Chairman at this important stage for Euro Manganese. The Company is exceptionally well-positioned
to play a critical role in Europe's battery materials supply chain, and I look forward to working closely
with the Board and management team to help drive the Chvaletice Project forward and create long-
term value for all stakeholders. As I take on this new responsibility, I want to express my sincere
appreciation to John for his exceptional leadership and unwavering dedication to Euro Manganese.
His strategic vision and steady guidance have been instrumental in positioning the Company for the
next stage of growth."
During his tenure as Director of Corporate Development at Allkem Limited, Mr. Anthon led the
company's corporate development activities while it evolved from a junior explorer to a major industry
player, navigating a successful IPO and playing a key role in Allkem's A$16 billion merger with Livent to
create Arcadium Lithium, now one of the world's largest lithium producers and a NYSE-listed company
that is being acquired by Rio Tinto. He currently serves as Chairman of the Board at Savannah
Resources, a European-focused lithium producer, as well as Chairman of Greenwing Resources
Limited, which has lithium brine operations in Argentina and a graphite project in Madagascar. Mr.
Anthon is also Chairman of Rapid Lithium Limited, which is focused on lithium exploration in South
Dakota, and Non-Executive Director at Savannah Goldfields Limited.
John Webster, Euro Manganese's outgoing Chairman said,
"Serving as Euro Manganese's
Chairman has been an honour. We have an extremely capable and enthusiastic management team,
and with Rick joining as Chairman I am confident that this team will continue to execute on this next
chapter of the Company's strategic vision and plans. I look forward to continuing to work with
management and my fellow Board members to develop the Chvaletice Manganese Project and
enhance value for all shareholders."
Financing Update
TSX-V Conditional Approval
The Company also announces that the Financing has received conditional approval from the TSX
Venture Exchange ("
TSX-V
"). The TSX-V's final acceptance of the Financing is conditional upon the
Company satisfying the filing requirements set forth in the conditional approval letter.
Completion of the Financing is also conditional upon receipt of the necessary shareholder approvals to
be obtained at the Company's upcoming Annual General and Special Meeting of shareholders (the
"
Meeting"
) to be held virtually on May 15, 2025. The Company will mail Meeting materials to
shareholders in due course and encourages all shareholders to vote in advance of the Meeting by
returning their proxy or voting instruction form.
Share Purchase Plan ("SPP")
The Company also confirms a revised launch date of the SPP for later in April (see below), details of
which were initially announced on March 6, 2025, and initially updated on April 1, 2025, for aggregate
gross proceeds of A$1.5 million (approximately C$1.4 million).
On April 1, 2025, Orion OMRF (BK) LLC
("
Orion
") agreed that if there is a shortfall between the maximum amount of the SPP and the total
number of securities taken up under the SPP, Orion will subscribe for the securities up to a maximum of
A$1.5 million on the same terms as the SPP, subject to regulatory requirements, any required regulatory
and shareholder approvals and completion of the Financing and SPP.
Updated Indicative Financing Timetable
The indicative timetable for the SPP has been revised as set out below:
Vancouver
Australia
SPP Record Date
n/a
Wednesday, March 5, 2025
Lodgement of Prospectus with
ASIC
n/a
Wednesday, April 23, 2025
Share Purchase Plan Opens
n/a
Monday, April 28, 2025
Share Purchase Plan Closes
n/a
Friday, May 9, 2025
Meeting to approve the Financing,
SPP and related matters
Thursday, May 15, 2025
Friday, May 16, 2025
Settlement of New Securities
Issued under the Financing and
SPP
Wednesday, May 21, 2025
Thursday, May 22, 2025
Allotment of New Securities issued
under the Financing and SPP
Thursday, May 22, 2025
Friday, May 23, 2025
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.
www.mn25.ca
Authorized for release by the Interim CEO of Euro Manganese Inc.
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
Martina Blahova
Interim Chief Executive Officer
+1 (604) 681-1010
Neil Weber
LodeRock Advisors
Investor and Media Relations - North America
+1 (647) 222-0574
Jane Morgan Management
Jane Morgan
Investor and Media Relations - Australia
+61 (0) 405 555 618
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.
Such forward-looking information or statements also include, but are not limited to, statements regarding
the Company's intentions regarding the development of the Chvaletice Project, the ability of the
Company to scale the Chvaletice Project and deliver on strategic priorities and create long-term value
for all stakeholders, statements regarding the terms of the Financing, including completion thereof, the
anticipated closing date of the Financing, receipt of the final regulatory and shareholder approvals for the
Financing and the SPP, the holding of the Meeting, the terms of the SPP, including completion thereof,
and issuance of the SPP Prospectus.
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
in accordance with current plans, that the Company will be able to raise the financing that it requires, and
that it will meet conditions of its secured credit facility. Factors that could cause actual results or events
to differ materially from current expectations include, among other things: risks and uncertainties related
to maintaining necessary licenses or permits; risks related to acquisition of surface rights; securing
sufficient offtake agreements; the availability of acceptable financing, and risks related to granting
security; the potential for unknown or unexpected events to cause contractual conditions to not be
satisfied; developments in EV (Electric Vehicles) battery markets and chemistries; and risks related to
fluctuations in currency exchange rates, changes in laws or regulations; and regulation 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.
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