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Euro Manganese Announces Upsize to Previously Announced Financing of up to C$11.2m (A$12.3m) including a Private Placement with Eric Sprott
Highlights Due to strong demand Euro Manganese has upsized the previously announced C$5.9m (A$...
About this update from Euro Manganese, Inc.
[{"type":"text","content":"Euro Manganese Announces Upsize to Previously Announced Financing of up to C$11.2m (A$12.3m) including a Private Placement with Eric SprottHighlightsDue to strong demand Euro Manganese has upsized the previously announced C$5.9m (A$6.5m) placement to C$9.8m (A$10.8m) and the condition to raise C$8m has been metEric Sprott, through 2176423 Ontario Ltd., confirms participation for C$3.0m (A$3.3m) European Bank for Reconstruction and Development subscription increased to approximately C$3.9m (A$4.2m) Share Purchase Plan (\"SPP\") for certain eligible ASX shareholders revised to up to A$1.5m (C$1.4m). Orion Resource Partners (\"Orion\") to fund any shortfall under the SPP for up to A$1.5mAnnual and special meeting of shareholders rescheduled to May 15, 2025Vancouver, British Columbia--(Newsfile Corp. - April 1, 2025) - Euro Manganese Inc. (TSXV: EMN) (ASX: EMN) (FSE: E06) (the \"Company\") today announced that, due to strong investor demand, the previously announced financing on March 6, 2025, including a placement in the Company (the \"Placement\") of common shares (\"New Shares\") and CHESS Depositary Interests (\"New CDIs\") (together, \"New Securities\"), has been upsized to up to C$9.8m (approximately A$10.8m)1 and the condition to raise C$8m has been met. Proceeds will be used to support ongoing development of the Chvaletice Manganese Project and customer engagements to secure additional offtake term sheets and strategic investments. All defined terms in this press release have the same meaning as set out in the March 6, 2025, press release, unless such terms are otherwise defined herein. Euro Manganese is pleased to report that Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, has agreed to subscribe for 16,666,666 (PC - 83,333,330) New Securities for an investment of C$3.0m (approximately A$3.3m). The European Bank for Reconstruction and Development (\"EBRD\") has increased its investment to approximately C$3.9m (approximately A$4.2m). Additionally, the Company is reducing the previously announced Share Purchase Plan (\"SPP\") amount to up to A$1.5m (approximately C$1.4 m), subject to receiving regulatory approval from the TSX Venture Exchange (\"TSXV\") for the amount of units that form part of the SPP under the Equity Raising (defined below).As previously announced on March 6,...