Euro Manganese Completes Share Issuances to EIT InnoEnergy
NR 2023-02
Euro Manganese Completes Share Issuances to EIT InnoEnergy
VANCOUVER, British Columbia (January 5, 2023) – Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX:
EUMNF; Frankfurt: E06) (the "Company" or "EMN") is pleased to announce that pursuant to the Project
Support Agreement entered into by the Company and EIT InnoEnergy , as announced on February 22,
2021, and the receipt of the third and final investment tranche of €62,500 (CAD$80,606), the Company
has issued 237,077 common shares ("Shares") to EIT InnoEnergy.
The first two EIT InnoEnergy investment tranches totalling €187,500 (CAD$278,012) were advanced in
2021, for which the Company issued 478,027 Shares on January 6, 2022 (refer to EMN news release dated
January 6, 2022). The third and final investment tranche of €62,500 (CAD$80,606) was advanced to the
Company on August 26, 2022 , for which the Company agreed to issue 237,077 Shares at the price of
CAD$0.34 per Share being the 10-day volume weighted average stock price on the TSX Venture Exchange
("TSXV") prior to receipt of the investment tranche (refer to EMN news release dated August 30, 2022).
The share issuance was approved by the TSXV effective September 9, 2022.
The funds from the three investment tranche s aggregating to €250,000 (CAD $358,618) were used to
support work on the Project’s definitive Feasibility Study which was completed in mid -2022 and the
Project's Demonstration Plant, which is currently being commissioned and is intended to produce large-
scale samples of high-purity manganese for supply chain qualification by prospective customers. For more
information about EIT InnoEnergy’s support of the Chvaletice Manganese Project, see EMN’s news release
dated February 22, 2021.
Following the issuance of the 237,077 Shares to EIT InnoEnergy, the Company has 402,669,227 Shares
issued and outstanding. In accordance with Canadian securities laws and policies of the TSXV, the Shares
issued to EIT InnoEnergy are subject to a four month and one day statutory hold period expiring on May
6, 2023.
About Euro Manganese Inc.
Euro Manganese Inc. is a battery materials company focused on becoming a leading, competitive, and
environmentally superior producer of high -purity manganese for the electric vehicle industry and other
high-technology applications. The Company is advancing development of the Chvaletice Manganese
Project in the Czech Republic, which is a unique waste -to-value recycling and remediation opportunity
involving reprocessing old tailings from a decommissioned mine. The Chvaletice project is the only sizable
resource of manganese in Europe, strategically positioning the Company to provide battery supply chains
with critical raw materials to support the global shift to a circular, low-carbon economy.
Authorized for release by the CEO of Euro Manganese Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) or t he ASX accepts responsibility for the adequacy or accuracy of t his
release.
Dr. Matthew James
President & CEO
+44 (0)747 229 6688
Louise Burgess
Senior Director, Investor Relations & Communications
+1 (604) 312-7546
Company Address: #709 -700 West Pender St., Vancouver, British Columbia, Canada, V6C 1G8
Website: www.mn25.ca
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 informat ion 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 commissioning and operation of the demonstration plant
the ability of the Company to produce large scale samples of high purity manganese, and the position of
the Company to provide battery supply chains with critical raw materials to support the global shift to a
circular, low-carbon economy. Further, it should be noted that no production decision has been made
with respect to the Project and that such a decision will only be made when permitting and financing
having been secured, and the Company has completed other key milestones.
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 wi ll 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 inability to secure surface rights on
commercially reasonable terms or at all; the po tential 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 development programs
or studies to deliver anticipated results or results that would justify and support continued studies,
development or operations.
Although the forwar d-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 f orward-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 for ward-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,
2022 and its Annual Information Form.