Euro Manganese Announces Closing of First Tranche of Private Placement and Grant of Stock Options
Euro Manganese Announces Closing of First Tranche of Private Placement
and Grant of Stock Options
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES
VANCOUVER, British Columbia, April 06, 2020 -- Euro Manganese Inc. (TSX-V / ASX: EMN) (the " Company" or " EMN") is
pleased to announce the closing of the first tranche of the non-brokered private placement (the " Offering") announced on
March 24, 2020, and a grant of stock options.
Closing of First Tranche of Private Placement
The first tranche was comprised of 4,477,170 common shares (" Shares") and 227,273 CHESS Depositary Interests (" CDIs",
with each CDI representing one Share), at a price of C$0.11 per Share and A$0.13 per CDI, respectively, for aggregate gross
proceeds of C$517,489.
The second tranche of the Offering (the " Related Parties Tranche "), consisting of subscriptions by related parties of the
Company of 4,261,142 Shares at a price of C$0.11 per Share and 174,615 CDIs at a price of A$0.13 per CDI for aggregate
gross proceeds of C$487,780, is expected to close on or about May 5, 2020, subject to and following approval by the
Company’s shareholders as required by Listing Rule 10.11.5 of the Australian Securities Exchange (" ASX"). The Company
has called a special meeting of shareholders to be held on May 1, 2020 (the " Meeting ") to approve the issuance of Shares
and CDIs under the Related Parties Tranche.
Aggregate gross proceeds under the Offering are expected to be approximately C$1,005,300. Net proceeds of the Offering will
be used by the Company to further advance its Chvaletice Manganese Project in the Czech Republic, including advancing the
feasibility study and preparation of the Environmental Impact Assessment submission, and for other general corporate
purposes. Fees payable by the Company in connection with the Offering are a management fee, payable in cash, of 1% of the
aggregate gross proceeds from the Offering. Shares issued pursuant to the first tranche of the Offering are subject to a four
month and one day statutory hold period expiring on August 7, 2020.
The Shares and CDIs to be issued under the Offering have not been and will not be registered under the U.S. Securities Act of
1933, as amended, or any state securities laws and may not be offered or sold in the United States or to U.S. Persons absent
registration or an applicable exemption from registration. This press release is not an offer or a solicitation of an offer of
securities for sale in the United States, nor will there be any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
Stock Option Grant
The Company also announces a grant of stock options (the " Options") to an officer, an employee and a consultant to
purchase up to an aggregate of 350,000 Shares. The Options are exercisable for a term of ten years at an exercise price of
C$0.25 per Share. The Options vest one-third on the date of grant and one-third on each of the first and second anniversaries
of the date of grant.
About Euro Manganese:
Euro Manganese Inc. is a Canadian mineral resource company focused on the development of the Chvaletice Manganese
Project in the Czech Republic. The Project will recycle historic mine tailings that host Europe’s largest manganese deposit
and result in an environmental remediation of this site. The European Union is emerging as a major electric vehicle
manufacturing hub. EMN's goal is to become the preferred supplier of sustainably-produced ultra-high-purity manganese
products for the lithium-ion battery industry and for producers of specialty steel, high-technology chemicals and aluminum
alloys.
Authorized for release by the CEO of Euro Manganese Inc.
Contact:
Euro Manganese Inc.
Marco A. Romero
President & CEO
(604)-681-1010 ext. 101
Fausto Taddei
Vice President, Corporate Development
& Corporate Secretary
(604)-681-1010 ext. 105
E-mail: [email protected]
Website: www.mn25.ca
Company Address:
1500 – 1040 West Georgia Street,
Vancouver, British Columbia, Canada, V6E 4H8
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 projects, 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. Such forward-looking information or statements include, without limitation, statements regarding the completion of
the Related Parties Tranche, the holding of the Meeting and the use of proceeds of the Offering.
Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements
and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results
and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could
cause actual results to differ materially from the results discussed in the forward-looking statements or information, including,
but not limited to, the factors discussed under “Risks Notice” and elsewhere in the Company’s MD&A, as well as the inability
to obtain regulatory approvals in a timely manner; the potential for unknown or unexpected events to cause contractual
conditions to not be satisfied; unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities;
the failure of parties to contracts with the Company to perform as agreed; social or labour unrest; changes in commodity
prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support
continued exploration, studies, development or operations.
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. The Company’s actual results could differ materially from those anticipated in these forward
-looking statements as a result of the factors set forth in the “Risks Notice” section and elsewhere in the Company’s MD&A for
the year ended September 30, 2019 and its Annual Information Form.
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.