Euro Manganese Inc. Completes IPO for Dual Listing in Canada and Australia, Commences Trading on TSX-V and ASX
Euro Manganese Inc. Completes IPO for Dual Listing in Canada and Australia,
Commences Trading on TSX-V and ASX
Highlights:
• Euro Manganese Inc. raises approximately CAD$ 8.6 million (~AUD$9.2 million) comprised of CAD$2.5 million
under a Canadian Offering and AUD$6.5 million under an Australian Offering
• IPO strongly supported by new and existing domestic and international investors
• Euro Manganese Inc. is targeting the development of one of Europe’s largest manganese resources at the
Chvaletice Manganese Project in the Czech Republic
• Focus is on production of ultra-high-purity and environmentally superior manganese products in close
proximity to a major emerging European cluster of lithium-ion battery industries
• Trading debut on 2 nd October 2018 at 10:00am (Sydney time) on the Australian Securities Exchange and at
6:30am (Vancouver time) the TSX-Venture Exchange in Canada
VANCOUVER, British Columbia, Oct. 02, 2018 -- Euro Manganese Inc. (" EMN" or the " Company") has closed its initial
public offering on the TSX-Venture Exchange in Canada of 10,000,000 common shares of the Company (" Common Shares ")
at a price of CAD$0.25 per share, for aggregate gross proceeds of CAD$2,500,000 (the " Offering"). Concurrently, the
Company successfully completed an initial public offering on the Australia Securities Exchange (" ASX") of 25,000,000 CHESS
Depository Interests (each, a "CDI" and each CDI representing one fully paid Common Share), at a price of AUD$0.26 per CDI,
for gross proceeds of AUD$6,500,000 (approximately CAD$6,100,000) (the " Australian Offering "). Gross proceeds to the
Company from the Offering and Australian Offering were approximately CAD$8,600,000.
The Company has been admitted to the ASX, and its CDIs began trading on the ASX on October 2, 2018 (Australia time)
under the trading symbol "EMN". The Common Shares will commence trading on the TSX-V at market open, on October 2,
2018 (Canada time), also under the trading symbol "EMN".
The Company is advancing the evaluation and development of the Chvaletice Manganese Project, located in the Czech
Republic (the “Project”), in which it holds a 100% interest. The Project contains one of Europe’s largest manganese deposits,
hosted in tailings from historical mining and milling operations. The Project leverages excellent surrounding infrastructure and a
strategic location in the heart of Europe, where consumption of high-purity manganese products is widely expected to expand
significantly in the coming decade, driven by demand from the continent’s major emerging electrical vehicle and lithium-ion
battery industries, and by the high-performance steel and aluminum alloy industries.
The Czech Republic, a member of the European Union, is a modern, stable and sophisticated country, with comprehensive
business, investment and environmental laws. EMN expects that the proposed recycling and reprocessing of the Chvaletice
tailings will result in the environmental remediation of this site, bringing it into compliance with current Czech and EU
standards and regulations. The Company seeks to work closely with neighbouring communities to achieve positive outcomes
for their residents.
The Company’s board and management team are experienced company builders and have uniquely complementary skills in
exploration, financing, project development and operations. Its management team has a strong track-record and reputation for
excellence in environmental practices and corporate social responsibility.
Canaccord Genuity Corp. acted as agent for the Offering in Canada and Canaccord Genuity Australia Limited managed the
Australian Offering.
Marco Romero, EMN’s President and CEO stated:
“The successful completion of our dual IPO, in the world’s leading equity capital markets for our sector, is a noteworthy
milestone for EMN. It enables us to continue our steady progress towards the development of this strategic manganese
resource in the heart of Europe. It brings us one step closer to our goal of becoming a highly-competitive, reliable and
environmentally superior supplier of ultra-high-purity manganese products, satisfying the requirements of the most demanding
customers.
“Our timing and the location of our Project appear to be excellent. European and international demand for high-purity
manganese products used in the leading lithium-ion battery formulations is increasing rapidly. There are significant sums
being invested or expected to be invested in the development of battery and battery precursor plants in Europe that require
high-purity manganese inputs. This is particularly evident with the lithium-ion battery and precursor materials production
capacity and plans for its growth that have emerged in recent times in Germany, Poland, Belgium, Hungary, Austria, Sweden
and Finland. We also see significant market opportunities outside Europe.”
“We are paying great attention to detail in everything we do, continuously striving to achieve very high technical, commercial,
environmental and social standards.”
About Euro Manganese Inc.
Euro Manganese Inc. is a Canadian mineral resource company, whose principal focus is the evaluation and development of the
Chvaletice Manganese Project, which entails re-processing a significant manganese deposit hosted in historic mine tailings,
strategically-located in the Czech Republic. The Company's goal is to become a leading, competitive and environmentally
superior supplier of ultra-high-purity manganese products, serving the lithium-ion battery industry, as well as producers of
specialty steel and aluminum alloys.
About the Chvaletice Manganese Project:
Chvaletice is one of Europe’s largest manganese resources, hosted in tailings from 1951-1975 historical mining and milling
operations. No hard mining, crushing or milling are expected to be required for their extraction. Manganese occurs at
Chvaletice predominantly as highly soluble minerals, amenable to conventional hydrometallurgical processes.
The Company’s 2017 drilling program served as the base for a CIM compliant Resource Estimate that reported an indicated
resource of 23.37 million tonnes grading 7.4% manganese (excluding inferred resources). The Company is targeting the
recycling of the Chvaletice manganese-bearing tailings using cleaner, proven and conventional technology. By reprocessing
the tailings and implementing a progressive reclamation program on the site, the Company intends to remediate the site and
to bring it into compliance with Czech and European environmental regulations and standards.
An extensive metallurgical test work and process design program has been underway since early 2016. Pilot-plant test runs
were recently concluded. An updated resource estimate, following a summer 2018 drilling program, is expected to be
published by Tetra Tech Canada Inc. later this quarter, to be followed by a Preliminary Economic Assessment. The Company,
through its Czech operating subsidiary obtained its Preliminary Mining Permit for the Project in April 2018, has completed two
years of baseline environmental studies and groundwater monitoring, and expects to file its definitive Environmental Impact
Assessment in the first half of 2019.
The Chvaletice Manganese Project is located 90km from Prague, in the Czech Republic, a tier-one jurisdiction with excellent
infrastructure, including rail, highway, natural gas and water, and adjacent to a major power plant at a key node in the Czech
national electrical grid.
Mr. Gary Nordin, Chief Geologist for Euro Manganese Inc., serves as ‘Qualified Person’ as defined in NI 43-101 and has
approved the scientific and technical information contained in this news release.
Cautionary Notes:
No securities regulatory authority has either approved or disapproved of the contents of this news release.
The Common Shares and CDIs have not been and will not be registered under the United States Securities Act of 1933, as
amended (the " U.S. Securities Act ") or any state securities laws. Accordingly, the Common Shares and CDIs may not be
offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or
pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This
news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of EMN in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
Contact:
Marco A. Romero,
President & CEO
(604)-681-1010 ext. 101
Website: www.mn25.ca
Corporate Presentation : www.mn25.ca /investors