Euro Manganese Appoints Bacchus Capital Advisers and Provides Demonstration Plant Strategy Update
Euro Manganese Appoints Bacchus Capital Advisers and Provides
Demonstration Plant Strategy Update
• Bacchus Capital Advisers appointed as Euro Manganese’s financial adviser.
• Update on ongoing discussions with potential customers regarding qualification of high-purity manganese products from
the proposed Chvaletice demonstration plant.
VANCOUVER, British Columbia, Dec. 09, 2019 -- Euro Manganese Inc. (TSX-V / ASX: EMN) (the " Company" or " EMN") is
please to report as follows:
Financial Adviser Appointment
Euro Manganese has appointed Bacchus Capital Advisers (“ Bacchus Capital ” or “BCA”) as its lead strategic and financial
adviser, to provide support to the Company’s management and board of directors, as it advances with the financing and
development of the Chvaletice Manganese Project, including the proposed Chvaletice demonstration plant. BCA will deliver
tactical and strategic advisory services, including assistance with offtake arrangements and financing, leveraging its extensive
international investor and industry network.
Bacchus Capital is a London-based independent investment and merchant banking boutique. The Bacchus Capital team
members have been involved in building some of the world’s most successful mining companies from the earliest stages and
have played a key role in many of the metals and mining industry’s most significant transactions in recent decades.
Peter Bacchus, Chairman and Chief Executive of BCA said: “BCA is looking forward to working alongside EMN as it
progresses its Chvaletice Manganese Project. Not only is the Chvaletice deposit unusually well-suited to low-cost leaching to
produce an ultra-high-quality product, but as a tailings rehabilitation project it has significant environmental advantages over
conventional mining operations. Set against a backdrop of strong forecast growth for European battery manufacturing and led
by a management team that can deliver, we believe Chvaletice will become an important strategic source of high-purity
manganese.”
Marco Romero, President and CEO of EMN added: “The appointment of Bacchus Capital Advisers represents an important
step in Euro Manganese’s corporate and financial development. BCA’s team has an unrivalled track record and reputation for
successful financial mandate execution. The depth and breadth of their experience in navigating global capital markets, while
building important resource companies, is remarkable. Their knowledge of the battery raw materials sector will greatly assist
our collaboration. We look forward to working with BCA.”
Update on Strategy Related to the Chvaletice Demonstration Plant
Key prospective customers have expressed interest in securing long-term supply of high-purity manganese products from the
Chvaletice Manganese Project and in testing the products of the proposed Chvaletice Demonstration Plant (“DP”). These
Customers have included manufacturers of electric vehicle batteries, precursors and cathodes, and chemical, aluminum and
steel companies, as well as electric vehicle manufacturers. The Company has been conducting discussions and negotiations
with parties from Europe, Asia and North America. These are expected to lead to the selection of a group of companies that
will be provided with the opportunity to test, evaluate and begin the qualification process for the Chvaletice Manganese Project,
initially based on the manganese product that will be produced at the Chvaletice DP. These bulk samples are principally
expected to be used for the design and testing of precursor and cathode formulations, in combination with specific lithium,
nickel and cobalt sources, for use in automotive lithium-ion batteries. EMN also anticipates that some material will be tested
in connection with high-end specialty steel, aluminum and other chemical and high-technology applications. The Company is
planning to allocate the DP’s production in the coming months. Upon successful completion of testing and evaluation of these
products, EMN would expect to enter into offtake agreement negotiations with these parties.
About Euro Manganese Inc.
Euro Manganese Inc. is a Canadian mineral resource company, whose principal focus is advancing the development of the
Chvaletice Manganese Project, located approximately 90 km. east of Prague, Czech Republic, in which it holds a 100%
interest. The proposed Project entails the re-processing of a significant manganese deposit hosted in historic mine tailings,
strategically located in the heart of Europe. EMN's goal is to build a leading, competitive and environmentally-superior supplier
of Ultra-High-Purity Manganese Products, serving both the lithium-ion battery industry, as well as producers of specialty steel
and aluminum alloys.
Contact:
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 Company’s
intentions regarding the Project in the Czech Republic, including without limitation, the continued evaluation and development
of the Project , the ability of the Company to allocate the DP’s planned production, whether the production from the DP will
meet the parties requirements, and following such product testing, the ability of the Company to successfully negotiate offtake
agreements.
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, 2018 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.