Orion signals confidence in Euro Manganese, simplifying the capital structure and enhancing financial flexibility.
Vancouver, British Columbia--(Newsfile Corp. - July 10, 2026) - Euro Manganese Inc. (TSXV: EMN) (ASX: EMN) (FSE: E060) ("EMN" or the "Company") is pleased to announce that it has amended its facility with Orion OMRF (BK) LLC ("Orion"), which is managed by the Orion Resource Partners Group.
The Third Amended and Restated Convertible Loan and Royalty Agreement dated July 9, 2026 (the "Amended CLRA") provides for the automatic conversion of the outstanding loan and accrued interest (See Appendix A, defined as "Outstanding Loan Amount") into a royalty on the Chvaletice Manganese Project (the "Project"), upon satisfaction of a fundraising condition by a date acceptable to Orion (the "Fundraise Condition"). The Amended CLRA provides EMN with a potentially more streamlined capital structure and greater financial flexibility as it pursues the next stage of development.
HIGHLIGHTS
Outstanding Loan Amount will automatically convert into a royalty provided EMN satisfies the Fundraise Condition
Conversion will fully discharge EMN's repayment obligation for the Outstanding Loan Amount, simplifying the Company's balance sheet and improving financing flexibility
Removal of time-based milestones contained in previous versions of the CLRA provides EMN with greater flexibility to advance the Project on a development timeline aligned with financing, permitting and market conditions
Cancellation of the second loan tranche in the Second Amended and Restated CLRA and the Second Amended and Restated Royalty Agreement, both dated May 20 2025, as amended
Royalty
The Outstanding Loan Amount will automatically convert into a royalty and EMN's obligation to repay the Outstanding Loan Amount will be fully discharged upon satisfaction the Fundraise Condition. The Royalty has increased to 2.29-2.46% of Project revenues following conversion and will be calculated quarterly using a sliding scale linked to achieved prices for the Project's high-purity manganese products.
See Summary of key changes to original Orion facility announced November 28, 2023 in Appendix A, Table 1
Martina Blahova, Chief Executive Officer of EMN commented:
"This agreement is a constructive and positive outcome for EMN. By converting the existing facility into a royalty, we are simplifying our capital structure, improving financing flexibility and positioning the Company to advance the Chvaletice Manganese Project through its next stage of development. Orion has been a valued financing partner, and this revised structure reflects its continued support for EMN and confidence in our ability to deliver this strategically important project."