Business
EBRD Strategic Investment in EMH
EBRD Strategic Investment in EMH.
About this update from European Metals Holdings Ltd
[{"type":"text","content":"\n\nFor immediate release\n \n \n21 July 2023\n \nEuropean Bank for Reconstruction and Development\n€6m Strategic Investment\nHighlights:\n- The European Bank for Reconstruction and Development (\"EBRD\") has agreed to invest €6 million to support the Company's development of the Cinovec Project in the Czech Republic.\n- ERBD's investment and expertise will be beneficial to the Company as the Cinovec Project moves through permitting, project financing, and completing its Definitive Feasibility Study (\"DFS\").\n- As part of its due diligence, EBRD engaged an independent, international mining consultancy to conduct a technical review of the Cinovec Project.\n- EBRD is an International Financial Institution owned by the European Union, European Investment Bank and 71 countries, including the Czech Republic.\n- The investment is to be implemented by way of a private placement of 12,315,213 shares of the Company to be issued to EBRD at a price of £0.423 per share (the \"Placement\"). This equates to AUD 0.803 per share.[1]\nEuropean Metals Holdings Limited (ASX & AIM: EMH, OTCQX: EMHXY, ERPNF and EMHLF) (\"European Metals\" or the \"Company\") is pleased to announce the entry into a strategic investment agreement under which EBRD has agreed to invest €6 million to support the Company's development of the Cinovec Project in the Czech Republic.\nAs part of the due diligence process, EBRD engaged an independent, international mining consultancy to undertake a technical review of the Cinovec Project. EBRD also performed a review of the Cinovec Project in respect to compliance with EBRD's Environmental and Social Policy.\nKeith Coughlan, Executive Chairman, said:\n\"The Company welcomes EBRD's strategic investment, which is a strong endorsement of the Cinovec Project's value and its commitment to the highest environmental and social standards. The EBRD investment aims to fund the project's predevelopment work and opens a pathway to potentially securing project financing. The successful completion of the technical due diligence process is a testament to the quality of the Cinovec team, the work which has been done to date and a strong vote of confidence in the project.\n\"The...