Euro Manganese Inc
Euro Manganese Inc. (TSX-V / ASX:EMN) is a Canadian mineral resource company focused on the development of the Chvaletice Manganese Project in the Czech Republic.
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Euro Manganese raises A$30 million in oversubscribed private placement to accelerate high-purity Chvaletice Manganese Project
Euro Manganese Inc's (ASX:EMN) (CVE:EMN) (OTCMKTS:EROMF) (FRA:E06) private placement to raise gross proceeds of A$30 million (C$29 million) has received strong institutional participation and has been oversubscribed.
This offering was anchored by a strategic investor and an environmental, social and governance (ESG) focused fund and also received strong support from several existing institutional shareholders.
The second tranche of the offering will be used to introduce two new institutional investors with a strong positive view on ESG projects and the market opportunity for high-purity manganese in Europe.
Net proceeds from the offering will go towards advancing the Chvaletice Manganese Project in the Czech Republic.
Final investment decision in 2022
EMN president and chief executive officer Marco Romero said: "We are very pleased to see such strong and high-quality investor interest in this equity offering.
"We now have the funds required to install, commission and operate our demonstration plant and to finalise our definitive feasibility study and final environmental impact assessment during the next 12 months.
"This financing will allow us to complete all site and technical work required for a final investment decision expected in 2022.
Other Euro Manganese Inc news
- Euro Manganese orders high-purity manganese products demonstration plant
2020-11-19 - Euro Manganese begins board restructure as next phase of Chvaletice Manganese Project development progresses
2020-07-24 - Euro Manganese makes final payment in Chvaletice Manganese Project acquisition
2020-05-15 - Euro Manganese MD demonstrates confidence in company with on-market purchase
2020-05-13 - Euro Manganese closes second tranche of private placement following strong shareholder support
2020-05-07
