Beyond the Grid: Neutrino(R) Energy Group’s Strategy for Land, Sea, Sky, and Space
A global energy transition is no longer optional-it’s a necessity. But behind the scenes of solar and wind, another technology is entering industrial reality with far greater implications. Neutrinovoltaic technology, developed by the Neutrino® Energy Group, is not a distant concept. It’s an operational platform for decentralized, 24/7 energy generation that is now expanding into mobility, aerospace, marine systems, and even high-security communications.
Neutrinovoltaic technology converts the kinetic energy of neutrinos and other non-visible radiation into electricity. These omnipresent particles trigger atomic vibrations in a nanomaterial composed of alternating layers of graphene and doped silicon. The resulting resonant frequency is transformed into direct current. Far from ambient energy scavenging, this is a controlled, scalable generation method already powering advanced applications.
Power Without Fuel: The Neutrino Power Cube
The Neutrino Power Cube is a compact, modular, and emission-free energy system delivering 5 to 6 kilowatts of continuous power. Weighing just 50 kilograms, it operates silently and autonomously, independent of weather or location. With no fuel, no combustion, and no grid connection required, the Cube holds the potential to decentralize energy infrastructure and become a cornerstone of clean, off-grid power generation worldwide.
Autonomous Mobility: The Pi Car The Pi Car applies neutrinovoltaic integration to electric vehicles. Instead of relying on traditional charging infrastructure, the Pi Car generates power continuously by embedding neutrinovoltaic materials into structural components like the body panels and roof. After an hour in ambient conditions, the vehicle can achieve up to 100 kilometers of additional range. Collaborators include Simplior Technologies for AI-based energy optimization, C-MET Pune for materials development, and SPEL Technologies for battery integration. The concept also supports retrofitting existing EV platforms to enhance range and energy independence.
Flight Beyond Limits: Pi Fly Pi Fly is Neutrino® Energy Group’s aeronautics program, developing UAVs powered by onboard neutrinovoltaic systems and supercapacitor storage. Current prototypes include multirotor and flying wing models. The next phase targets autonomous VTOL aircraft for cargo delivery. Supporting this effort are mobile hydrogen refueling units, also powered by neutrinovoltaics, enabling off-grid aviation infrastructure.
Maritime Transformation: Nautic Pi Nautic Pi brings this energy platform to the sea. Neutrinovoltaic-powered marine vessels are under conceptual development, allowing autonomous navigation without onboard fuel or external charging. The system is particularly suited for long-duration missions, remote operations, and submersible platforms.
Communication Breakthrough: Project 12742
Finally, Project 12742 explores neutrino-based data transmission. Unlike radio signals, neutrinos pass through dense materials with minimal interference. This allows for real-time, secure global communication even through rock, oceans, or planetary bodies-an enormous leap for high-security and interplanetary data systems.
As governments and industries seek viable decarbonization paths, the Neutrino® Energy Group is no longer just proposing solutions-it’s deploying them. With a multidisciplinary team of hundreds of researchers, engineers, and scientists from over 40 countries, strategic alliances, and a growing portfolio of high-impact applications, neutrinovoltaic technology isn’t coming-it’s already here. And it’s conquering the world.
Neutrino Energy GroupNeutrino Scientific BoardHolger Thorsten Schubart – CEOWebsite: www.neutrino-energy.com
Contact Information Holger Thorsten Schubart CEO and member of the Scientific Advisory Board office@neutrino-energy.com +493020924013
Financing included an upsized C$9.8 million (A$10.8 million) Private Placement and an oversubscribed A$1.5 million (C$1.4 million) Share Purchase Plan
Company welcomes the European Bank of Reconstruction and Development and Eric Sprott as significant shareholders
Funds raised to support ongoing development of the Chvaletice Manganese Project and customer engagements to secure additional offtake term sheets and strategic investments
Euro Manganese Inc. (TSXV) (ASX: EMN) (FSE: E060) (the “Company” or “Euro Manganese“) is pleased to announce that, following the approval by its shareholders at its Annual General and Special Meeting held on May 15, 2025 (the “AGSM“), it has closed the previously announced financing package which included: (a) a private placement (the “Placement“) of common shares (“New Shares“) and CHESS Depositary Interests (“New CDIs” together with the New Shares, “New Securities“) in the capital of the Company of C$9.8 million (approximately A$10.8 million); and (b) a Share Purchase Plan (“SPP“, together with the Placement, the “Financing“) with certain eligible shareholders in the amount of A$1.5 million (approximately C$1.4 million). The Company also announces an option grant to certain directors, officers, employees, and consultants as described below.
Martina Blahova, CEO of Euro Manganese, commented: “We are extremely pleased with the strong support demonstrated by both our existing shareholders and new investors, including the notable participation of Mr. Eric Sprott. As Euro Manganese’s largest shareholder, EBRD’s investment reinforces its support and commitment to the Chvaletice Project. This critical financing enables the Company to pursue certain key milestones and advance project development. We thank shareholders for their ongoing support.”
The net proceeds of the Financing will be used to support ongoing development of the Chvaletice Manganese Project, including customer engagements to secure additional offtake term sheets and strategic investments, the operation of the demonstration plant, as needed, to market the Company’s product to potential customers and to advance permitting.
All defined terms in this press release have the same meaning as set out in the press releases dated March 6, 2025 and April 1, 2025, unless such terms are otherwise defined herein.
Details of the Placement
The Placement consisted of the issuance of an aggregate of 54,578,350 New Securities, comprised of 39,671,662 New Shares at a price of C$0.18 per New Share and 14,906,688 New CDIs (with each New CDI representing one New Share) at a price of A$0.195 per New CDI, and 54,578,350 Warrants for aggregate gross proceeds of C$9.8 million (approximately A$10.8 million). Warrants issued in connection with the Placement are exercisable any time prior to November 28, 2026 (Vancouver), and have an exercise price of C$0.225 per New Security. Included in the Placement were:
14,650,278 New CDIs and 14,650,278 Warrants subscribed for under the Placement led by the Joint Lead Managers (as defined below);
39,463,331 New Shares and 39,463,331 Warrants subscribed for directly with the Company, which included (i) 21,400,000 New Shares and 21,400,000 Warrants subscribed for by the European Bank for Reconstruction and Development (“EBRD“) (the “EBRD Subscription“); (ii) 16,666,666 New Shares and 16,666,666 Warrants subscribed for by Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by Mr. Sprott; and (iii) 1,396,665 New Shares and 1,396,666 Warrants subscribed for by other, non-related investors; and
subscriptions by directors of the Company for 464,741 New Securities (comprised of 208,331 New Shares and 256,410 New CDIs) and 464,741 Warrants (the “Related Party Subscription“).
As the number of New Securities and Warrants issued under the Placement led by the Joint Lead Managers, pursuant to the EBRD Subscription, and subscribed for directly with the Company exceeded the number of securities permitted to be issued without obtaining prior shareholder approval under Listing Rule 7.1 of the Australian Securities Exchange (“ASX“), the Company was required to seek shareholder approval. Similarly, the Related Party Subscriptions were subject to shareholder approval as required by ASX Listing Rule 10.11.1 and 10.11.4. Resolutions approving these issues were sought and received at the AGSM.
Since certain directors and management of the Company participated in the Placement, the Placement is considered to be a related party transaction subject to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that participation in the Placement by such directors and management does not exceed 25% of the fair market value of the Company’s market capitalization, as calculated in accordance with MI 61-101.
Details of the Share Purchase Plan
The SPP was conducted pursuant to a Prospectus dated April 23, 2025 and was comprised of 7,692,307 New CDIs at a price of A$0.195 per CDI, and 7,692,307 Warrants, for aggregate gross proceeds of A$1.5 million (approximately C$1.4 million). Warrants issued in connection with the SPP are exercisable any time prior to November 28, 2026 (Vancouver), with an exercise price of C$0.225 per New Security.
As announced in the Company’s news release of May 15, 2025, the SPP was oversubscribed and subscriptions were scaled back to the maximum aggregate amount permitted.
As the number of New CDIs and Warrants issued under the SPP exceeded the Company’s Placement Capacity under ASX Listing Rule 7.1, the Company was required to seek shareholder approval, such approval having been received at the AGSM.
Broker Fees and Additional Warrants
Canaccord Genuity (Australia) Limited (“Canaccord Genuity“) and Foster Stockbroking Pty Ltd (“FSB“, together with Canaccord Genuity, the “Joint Lead Managers“) acted as Joint Lead Managers and Bookrunners for the Financing. Aggregate fees payable in cash by the Company to Canaccord Genuity and FSB in connection with the Financing consisted of A$498,918 (approximately C$454,016).
In addition, the Company also issued 4,904,478 broker warrants (the “Broker Warrants“) to Canaccord Genuity and FSB, representing 12% of the aggregate number of New Securities issued under the Placement and the SPP, excluding those issued pursuant to the EBRD Subscription. The Broker Warrants are exercisable any time prior to May 28, 2027 (Vancouver), with an exercise price of C$0.225 per New Security.
Additionally, as announced previously on March 6, 2025 and April 1, 2025, and in connection with an amendment to the Company’s Convertible Loan Royalty Agreement (the “CLRA“) with OMRF (BK) LLC (“Orion“) the Company has issued 22,263,733 warrants to purchase New Securities (the “Additional Warrants“) to Orion, exercisable any time prior to November 28, 2026 (Vancouver), with an exercise price of C$0.225 per New Security. Additional details about the CLRA are available in the news releases of the Company dated December 3, 2024, November 29, 2023 and November 27, 2023.
As the number of the Broker Warrants and Additional Warrants exceeded the Company’s Placement Capacity under ASX Listing Rule 7.1, the Company was required to seek shareholder approval, such approvals having been received at the AGSM.
Applicable Hold Periods
New Shares issued or made issuable under the Financing will not be permitted to be traded in or into Canada or through the facilities of the TSX Venture Exchange (the “TSX-V“) prior to a four month and one day statutory hold period expiring on September 29, 2025 (Vancouver), and will be subject to legending requirements under Canadian securities laws. New Shares will be listed on the TSX-V and New CDIs listed on the ASX. The Warrants, Broker Warrants and Additional Warrants will not be listed. New CDIs will not be permitted to be exchanged for common shares and traded through the facilities of the TSX-V prior to the four month and one day statutory hold period expiring on September 29, 2025 (Vancouver).
The Warrants, Broker Warrants and Additional Warrants will not be listed. Common shares issued upon exercise of the Warrants, Broker Warrants or Additional Warrants prior to September 29, 2025 (Vancouver) are subject to the same restrictions noted above.
The Warrants, Broker Warrants or Additional Warrants may not be traded in or into Canada prior to September 29, 2025 (Vancouver) and will be subject to legending requirements under Canadian securities laws.
Early Warning Disclosure for The European Bank for Reconstruction and Development
EBRD acquired the 21,400,000 units pursuant to the Placement at a price per unit of C$0.18 for total consideration of C$3,852,000.
Prior to the completion of the EBRD Subscription, EBRD owned 3,560,000 common shares, representing an ownership interest of 4.42% of the issued and outstanding common shares of the Company. On completion of the EBRD Subscription, EBRD’s ownership interest increased to 24,960,000 common shares, representing an ownership interest of 17.48% of the issued and outstanding common shares and an increase of 13.06%. Assuming the exercise by EBRD of all its Warrants, and assuming the exercise of (i) all Warrants issued under the Placement, (ii) all Warrants issued under the SPP, and (iii) all Additional Warrants, EBRD’s ownership interest will be in aggregate 46,360,000 common shares, representing an aggregate beneficial ownership interest of 19.96% of the issued and outstanding shares and an increase of 15.54%. EBRD has agreed, pursuant to the terms of the Warrants issued to EBRD, that for so long as the Company is listed on the TSX-V, unless approval from the TSX-V and disinterested shareholders of the Company have been obtained pursuant to the policies of the TSX-V (provided that such approval is required at the relevant time), EBRD will not be permitted to exercise such number of warrants that would result in it beneficially owning more than 19.99% of the outstanding common shares of the Company.
EBRD acquired the New Shares and Warrants for investment purposes. Depending on market conditions and other factors, EBRD may from time to time acquire and/or dispose of securities of the Company or continue to hold its current position.
To obtain a copy of the early warning report to be filed by EBRD in connection with this press release, please contact: Michael Zlobin at +44 207338 8981. EBRD’s address is 5 Bank Street, London, E14 4BG, United Kingdom.
Early Warning Disclosure for Eric Sprott
Eric Sprott, through 2176423 Ontario Ltd., a corporation that is beneficially owned by him acquired 16,666,666 units pursuant to the Placement, at $0.18 per unit for total consideration of C$3,000,000. Prior to the Placement, Mr. Sprott did not beneficially own or control any securities of the Company. As a result of the Placement, Mr. Sprott now beneficially owns 16,666,666 Shares and 16,666,666 Warrants, representing approximately 11.7% of the outstanding Shares on a non-diluted basis and 20.9% of the outstanding Shares on a partially-diluted basis assuming exercise of such Warrants.
The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
A copy of the early warning report with respect to the foregoing will appear on Euro Manganese’s profile on SEDAR+ at www.sedarplus.ca and may also be obtained by calling Mr. Sprott’s office at (416) 945-3294 (2176423 Ontario Ltd., 7 King Street East, Suite 1106, Toronto Ontario M5C 3C5).
Option Grant
The Company today also granted stock options (“Options”) to certain of its directors, officers, employees, and consultants to purchase up to an aggregate of 7,020,000 common shares (“Shares”). Of these, 1,330,000 Options have been granted to directors, 2,530,000 Options have been granted to officers, and 3,160,000 Options have been granted to employees and consultants. The Options are exercisable for a term of ten years at an exercise price of CAD$0.19 per Share. All of the Options will vest one-third immediately and then one third on each of the first and second anniversaries of today’s date of grant, except that 1,650,000 of the Options granted to certain officers, employees and consultants will all vest immediately in recognition of such individuals work in managing the successful completion of the oversubscribed Financing.
Interim CFO
As announced earlier this month, the Company will be appointing a new Chief Financial Officer (“CFO“) in the coming weeks. Until such time, following the departure of Dean Larocque as CFO on May 30, 2025, Martina Blahova will serve as interim CFO.
About Euro Manganese
Euro Manganese is a battery materials company focused on becoming a leading producer of high-purity manganese for the electric vehicle industry. The Company is advancing development of the Chvaletice Manganese Project in the Czech Republic and an early-stage opportunity to produce battery-grade manganese products in Bécancour, Québec.
The Chvaletice Project is a unique waste-to-value recycling and remediation opportunity involving reprocessing old tailings from a decommissioned mine. It is also the only sizable resource of manganese in the European Union, strategically positioning the Company to provide battery supply chains with critical raw materials to support the global shift to a circular, low-carbon economy.
Euro Manganese is dual listed on the TSX-V and the ASX.
Authorized for release by the CEO of Euro Manganese Inc.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) or the ASX accepts responsibility for the adequacy or accuracy of this release.
Enquiries
Martina Blahova Chief Executive Officer +1 (604) 681-1010 martina@mn25.ca
Certain statements in this news release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company, its Chvaletice Project, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company.
All forward-looking statements are made based on the Company’s current beliefs including various assumptions made by the Company including that the Chvaletice Project will be developed and operate in accordance with current plans, appointment of permanent CFO, that the Company will be able to raise the financing that it requires, and that it will meet conditions of its secured credit facility. Factors that could cause actual results or events to differ materially from current expectations include, among other things: risks and uncertainties related to the Company’s ability to meet the conditions of its secured credit facility, risks related to maintaining and securing necessary licenses or permits; risks related to acquisition of surface rights; inability to secure sufficient offtake agreements; the availability of acceptable financing; the potential for unknown or unexpected events to cause contractual conditions to not be satisfied; developments in EV (Electric Vehicles) battery markets and chemistries; and risks related to fluctuations in currency exchange rates, changes in laws or regulations; and regulation by various governmental agencies. For a further discussion of risks relevant to the Company, see “Risk Factors” in the Company’s annual information form for the year ended September 30, 2024, available on the Company’s SEDAR+ profile at www.sedarplus.ca.
Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Euro Manganese Inc. (TSXV: EMN) (ASX: EMN) (FSE: E060) (the “Company” or “EMN”) is pleased to announce that shareholders have voted in favour of all matters of business brought before them at the Company’s Annual General & Special Meeting of Shareholders (the “Meeting”) held on May 15, 2025. Detailed results of the voting from the Meeting are set out below.
In addition, the Company announces an upcoming change to its Chief Financial Officer effective at the end of the month. See below for details.
In respect of Resolution 1, election of the Company’s directors, all five management nominees standing for election were elected as set out below based on a vote conducted by ballot:
Nominee
Total Votes Cast
Votes For
% For
Votes Withheld (Abstained)
% Withheld (Abstained)
John Webster
35,504,229
30,473,634
85.83
5,030,595
14.17
David B. Dreisinger
35,504,229
30,289,601
85.31
5,214,628
14.69
Thomas M. Stepien
35,504,229
30,298,601
85.34
5,205,628
14.66
Ludivine Wouters
35,504,229
33,904,004
95.49
1,600,225
4.51
Rick Anthon
35,618,229
33,735,888
94.72
1,882,341
5.28
The following matters of business at the Meeting, which were also carried out and decided by ballot, were approved:
Total Votes
Votes For
% For
Votes Against
% Against
Votes Withheld /Abstained
Resolution 2 – Appointment of Pricewaterhouse- Coopers LLP as Auditors of the Company
35,645,599
31,760,224
89.10
N/A
N/A
3,885,375
Resolution 3 – Re-approval of the Company’s Stock Option Plan(1)
35,504,229
32,389,657
91.23
2,963,702
8.35
150,870
(1) In accordance with the rules of the Australian Securities Exchange (the “ASX“), shareholders of the Company also approved the Company’s stock option plan by a majority of the votes cast, with the 455,661 votes cast by directors of the Company excluded and reclassified as withheld/abstain. Based on this exclusion and reclassification, the total number of votes cast in respect of this resolution was 35,504,229, of which 31,933,996 votes were cast for the resolution, representing 89.94% of the total votes cast, 2,963,702 votes were cast against the resolution, representing 8.35% of the total votes cast, and 606,531 votes were withheld/abstain, representing 1.71% of the total votes cast.
Additionally, for purposes of the ASX, shareholders of the Company also approved each of the following resolutions:
a) for the purpose of Listing Rule 7.1 of the ASX, the issuance of 21,400,000 Units comprising of 21,400,000 Shares and 21,400,000 Warrants to the European Bank for Reconstruction and Development (the “EBRD“) and the issuance of up to 18,063,331 Units comprising of 18,063,331 Shares and 18,063,331 Warrants, and 14,650,278 Units comprising of 14,650,278 CHESS Depositary Interests (“CDIs“) each representing one Share and 14,650,278 Warrants to sophisticated and professional investors, respectively, (the “Offering“);
b) for the purpose of Listing Rules 10.11.1 and 10.11.4 of the ASX, the issuance to the following individuals of Units under the Offering on terms and conditions identical to all other subscribers under the Offering:
(i) 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to JJW Investments Ltd., a company controlled by Mr. John Webster;
(ii) 41,666 Units, comprising of 41,666 Shares and 41,666 Warrants, to Dr. David B. Dreisinger.
(iii) 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to Mr. Thomas M. Stepien.
(iv) 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to Ms. Ludivine Wouters; and
(v) 256,410 Units, comprising of 256,410 CDIs and 256,410 Warrants, to Mr. Rick Anthon;
c) for the purpose of Listing Rule 7.1 of the ASX, the issuance of 4,904,478 broker warrants (the “Broker Warrants“) to Canaccord Genuity (Australia) Limited (“Canaccord“) and Foster Stockbroking Pty Ltd. (“FSB“), in connection with their remuneration for acting as co-lead managers of the Offering;
d) for the purpose of Listing Rule 7.1 of the ASX, the issuance of 7,692,307 CDIs and 7,692,307 Warrants to Eligible Shareholders under the Share Purchase Plan (“SPP“) on the terms and conditions described in the prospectus issued to Eligible Shareholders; and
e) for the purpose of Listing Rule 7.1 of the ASX, the issuance of 22,263,733 Orion Warrants to OMRF (BK) LLC (“Orion“) as compensation for certain amendments to the Convertible Loan and Royalty Agreement.
In accordance with Listing Rule 3.13.2(d) of the ASX, detailed results of the voting from the Meeting, on the resolutions outlined above, all of which were carried out and decided by ballot, are set out below.
Total Votes
Votes For
% For
Votes Against
% Against
Votes Withheld /Abstained
Resolution 4(a) – Issuance of 54,113,609 Units comprising 39,463,331 Shares and 14,650,278 CDIs and 54,113,609 Warrants to Non-Related Party Investors and the EBRD
35,504,229
27,456,337
77.33%
1,228,296
3.46%
6,819,596
Resolution 4(b)(i) – Issuance of 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to JJW Investments Ltd.
35,504,229
33,171,670
93.43
1,235,052
3.48
1,097,507
Resolution 4(b)(ii) – Issuance of 41,666 Units, comprising of 41,666 Shares and 41,666 Warrants, to Dr. David B. Dreisinger
35,504,229
33,187,967
93.48
1,235,052
3.48
1,081,210
Resolution 4(b)(iii) – Issuance of 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to Mr. Thomas M. Stepien
35,504,229
33,407,649
94.09
1,235,052
3.48%
861,528
Resolution 4(b)(iv) – Issuance of 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to Ms. Ludivine Wouters
35,504,229
33,196,678
93.50
1,234,188
3.48
1,073,363
Resolution 4(b)(v) – Issuance of 256,410 Units, comprising of 256,410 CDIs and 256,410 Warrants, to Mr. Rick Anthon
35,504,229
33,469,602
94.27%
1,234,188
3.48
800,439
Resolution 4(c) – the issuance of 4,904,478 Broker Warrants to Canaccord and FSB
35,504,229
30,898,394
87.03%
1,163,498
3.28%
3,442,337
Resolution 4(d) – the issuance of 7,692,307 CDIs and 7,692,307 Warrants to Eligible Shareholders under the SPP
35,504,229
33,324,730
93.86%
906,086
2.55%
1,273,413
Resolution 5 – the issuance of 22,263,733 Orion Warrants to Orion
35,504,229
33,362,546
93.97%
1,184,924
3.34%
956,759
The Company disregarded the following votes, from the applicable resolutions, as required by Listing Rule 14.11 of the ASX:
a) votes cast by the EBRD or any person (or any associates of such person) who is expected to participate in, or who will obtain a material benefit as a result of, the proposed issuance of Shares or CDIs under the Offering (except a benefit solely by reason of being a holder of ordinary shares in the Company) from Resolution 4(a);
b) votes cast by any person (or any associates of such person) who is expected to participate in, or who will obtain a material benefit as a result of, the proposed issuance of securities under the Offering (except a benefit solely by reason of being a holder of ordinary shares in the Company) from Resolutions 4(b)(i), 4(b)(ii), 4(b)(iii), 4(b)(iv);4(b)(v) and 4(c);
c) votes cast by Canaccord and FSB (or any associates of Canaccord and FSB) who will be receiving Broker Warrants (except a benefit solely by reason of being a holder of ordinary shares in the Company) from Resolution 4(c);
d) votes cast by any person (or any associates of such person) who is expected to participate in, or who will obtain a material benefit as a result of, the proposed issuance of securities under the SPP (except a benefit solely by reason of being a holder of ordinary shares in the Company) from Resolution 4(d); and
e) votes cast by Orion (or any associates of Orion) or any person (or any associates of such person) who will be receiving Orion Warrants (except a benefit solely by reason of being a holder of ordinary shares in the Company) from Resolution 5.
Accordingly, the following voting exclusions applied to each of the resolutions below as required by the rules of the ASX:
Resolution 4(a): Total votes for Resolution 4(a) exclude 6,527,532 votes cast by parties participating in the Offering, including the EBRD and the directors. The excluded votes are reclassified to votes withheld/abstain, resulting in no change to the total Shares being voted in connection with Resolution 4(a).
Resolution 4(b)(i): Total votes for Resolution 4(b)(i) exclude 235,979 votes cast by John Webster (and entities controlled by him, including JJW Investments Ltd.) who subscribed for Units in the Offering. The excluded votes are reclassified to votes withheld/abstain, resulting in no change to the total Shares being voted in connection with Resolution 4(b)(i).
Resolution 4(b)(ii): Total votes for Resolution 4(b)(ii) exclude 219,682 votes cast by David Dreisinger (and entities controlled by him) who subscribed for Units in the Offering. The excluded votes are reclassified to votes withheld/abstain, resulting in no change to the total Shares being voted in connection with Resolution 4(b)(ii).
Resolution 4(b)(iii): Total votes for Resolution 4(b)(iii) exclude nil votes cast by Thomas Stepien (and entities controlled by him) who subscribed for Units in the Offering.
Resolution 4(b)(iv): Total votes for Resolution 4(b)(iv) exclude nil votes cast by Ludivine Wouters (and entities controlled by her) who subscribed for Units in the Offering.
Resolution 4(b)(v): Total votes for Resolution 4(b)(v) exclude nil votes cast by Rick Anthon (and entities controlled by him) who subscribed for Units in the Offering.
Resolution 4(c): Total votes for Resolution 4(c) exclude 2,390,000 votes cast by Canaccord and FSB, or their associates, which are to be issued Broker Warrants. The excluded votes are reclassified to votes withheld/abstain, resulting in no change to the total Shares being voted in connection with Resolution 4(c).
Resolution 4(d): Total votes for Resolution 4(d) exclude 468,854 votes cast by parties participating in the SPP. The excluded votes are reclassified to votes withheld/abstain, resulting in no change to the total Shares being voted in connection with Resolution 4(d).
Resolution 5: Total votes for Resolution 5 exclude nil votes cast by Orion which is to be issued Orion Warrants.
A total of 35,504,229 common shares, representing approximately 44.09% of the issued and outstanding common shares of the Company eligible to vote at the Meeting, were voted in connection with all of the above resolutions, except for the following: (a) the election of the Mr. Rick Anthon as a director of the Company, for which 35,618,229 common shares, representing approximately 44.23% of the issued and outstanding common shares of the Company eligible to vote at the Meeting were voted; and (b) resolution 2, the appointment of PricewaterhouseCoopers LLP as Auditors of the Company, for which 35,645,599 common shares, representing approximately 44.26% of the issued and outstanding common shares of the Company eligible to vote at the Meeting were voted. The results of all matters considered at the Meeting are reported in the Report of Voting Results as filed by the Company on SEDAR at www.sedarplus.ca.
In accordance with ASX Listing Rule 3.13.2(e), the information below is being provided for the aggregate number of securities for which valid proxies were received before the Meeting. None of the Company appointed proxy holders were able to vote on any of the resolutions in their discretion.
Nominee
Total Proxies Received
Proxy directed to vote For
Proxy directed to vote Against
Proxy directed to Abstain
Proxy could vote at their discretion
Resolution 1 – Election of directors:
John Webster
35,504,229
30,473,634
N/A
5,030,595
Nil
David B. Dreisinger
35,504,229
30,289,601
N/A
5,214,628
Nil
Thomas M. Stepien
35,504,229
30,298,601
N/A
5,205,628
Nil
Ludivine Wouters
35,504,229
33,904,004
N/A
1,600,225
Nil
Rick Anthon
35,618,229
33,735,888
N/A
1,882,341
Nil
Resolution 2 – Appointment of Pricewaterhouse- Coopers LLP as Auditors of the Company
35,645,599
31,760,224
N/A
3,885,375
Nil
Resolution 3 – Re-approval of the Company’s Stock Option Plan (1)
35,504,229
31,933,996
2,963,702
606,531
Nil
Resolution 4(a) – Issuance of 54,113,609 Units comprising 39,463,331 Shares and 14,650,278 CDIs and 54,113,609 Warrants to Non-Related Party Investors and the EBRD(2)
35,504,229
27,456,337
1,228,296
6,819,596
Nil
Resolution 4(b)(i) – Issuance of 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to JJW Investments Ltd. (3)
35,504,229
33,171,670
1,235,052
1,097,507
Nil
Resolution 4(b)(ii) – Issuance of 41,666 Units, comprising of 41,666 Shares and 41,666 Warrants, to Dr. David B. Dreisinger(4)
35,504,229
33,187,967
1,235,052
1,081,210
Nil
Resolution 4(b)(iii) – Issuance of 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to Mr. Thomas M. Stepien
35,504,229
33,407,649
1,235,052
861,528
Nil
Resolution 4(b)(iv) – Issuance of 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to Ms. Ludivine Wouters
35,504,229
33,196,678
1,234,188
1,073,363
Nil
Resolution 4(b)(v) – Issuance of 256,410 Units, comprising of 256,410 CDIs and 256,410 Warrants, to Mr. Rick Anthon
35,504,229
33,469,602
1,234,188
800,439
Nil
Resolution 4(c) – the issuance of 4,904,478 Broker Warrants to Canaccord and FSB(5)
35,504,229
30,898,394
1,163,498
3,442,337
Nil
Resolution 4(d) – the issuance of 7,692,307 CDIs and 7,692,307 Warrants to Eligible Shareholders under the SPP(6)
35,504,229
33,324,730
906,086
1,273,413
Nil
Resolution 5 – the issuance of 22,263,733 Orion Warrants to Orion
35,504,229
33,362,546
1,184,924
956,759
Nil
(1) Excludes 455,661 votes cast by proxy by directors of the Company, which were reclassified as withheld/abstain. (2) Excludes 6,527,532 votes cast by proxy by the EBRD, directors and other subscribers in the Offering, which were reclassified as withheld/abstain. (3) Excludes 235,979 votes cast by proxy by John Webster and companies controlled by him (including JJW Investments Ltd.), which were reclassified as withheld/abstain. (4) Excludes 219,682 votes cast by proxy by David Dreisinger and companies controlled by him, which were reclassified as withheld/abstain. (5) Excludes 2,390,000 votes cast by proxy by Canaccord and FSB or their associates, which were reclassified as withheld/abstain. (6) Excludes 468,854 votes cast by proxy by subscribers to the SPP, which were reclassified as withheld/abstain.
Change in Chief Financial Officer
The Company also announces that Dean Larocque will step down as Chief Financial Officer effective May 30, 2025. The Company would like to thank Dean for his efforts since joining the Company in November 2024 and wish him well in his future endeavours. The Company expects to announce the appointment of its new Chief Financial Officer in the coming weeks.
About Euro Manganese
Euro Manganese is a battery materials company focused on becoming a leading producer of high-purity manganese for the electric vehicle industry. The Company is advancing development of the Chvaletice Manganese Project in the Czech Republic and an early-stage opportunity to produce battery-grade manganese products in Bécancour, Québec.
The Chvaletice Project is a unique waste-to-value recycling and remediation opportunity involving reprocessing old tailings from a decommissioned mine. It is also the only sizable resource of manganese in the European Union, strategically positioning the Company to provide battery supply chains with critical raw materials to support the global shift to a circular, low-carbon economy.
Euro Manganese is dual-listed on the TSXV and the ASX.
Authorized for release by the President and CEO of Euro Manganese Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the ASX accepts responsibility for the adequacy or accuracy of this release.
Inquiries
Martina Blahova President and CEO +1-604-681-1010 ext. 101 Website: www.mn25.ca
Jane Morgan Management Jane Morgan Investor and Media Relations – Australia +61 (0) 405 555 618 jm@janemorganmanagement.com.au
Company Address: #709 -700 West Pender St., Vancouver, British Columbia, Canada, V6C 1G8
Forward-Looking Statements
Certain statements in this news release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company, its Chvaletice Project, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company.
Forward-looking statements include statements regarding replacing the Chief Financial Officer and any expected outcome and ability to navigate current market conditions. All forward-looking statements are made based on the Company’s current beliefs including various assumptions made by the Company, including that the Chvaletice Project will be developed and operate as planned, the Company will obtain sufficient financing, and that the Company will be able to meet the conditions of its secured financing. Factors that could cause actual results or events to differ materially from current expectations include, among other things: insufficient working capital; inability to meet the conditions of its secured financing, risks due to granting security, lack of availability of financing for developing and advancing the Chvaletice Project; the potential for unknown or unexpected events to cause contractual conditions to not be satisfied; developments in EV (Electric Vehicles) battery markets and chemistries; risks related to fluctuations in currency exchange rates; and regulation and changes in laws by various governmental agencies. For a further discussion of risks relevant to the Company, see “Risk Factors” in the Company’s annual information form for the year ended September 30, 2024, available on the Company’s SEDAR+ profile at www.sedarplus.ca.
Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
Euro Manganese Inc. (TSXV: EMN) (ASX: EMN) (OTC Pink: EUMNF) (FSE: E060) (the “Company” or “Euro Manganese“) is pleased to announce that it has appointed Ms. Martina Blahova as permanent President and Chief Executive Officer (“CEO“) effective May 12, 2025 and will appoint Ms. Blahova to the Company’s Board of Directors (the “Board“). Ms. Blahova’s appointment to the Board will not take effect until she has obtained a director identification number from the Australian Business Registry Services.
Ms. Blahova was appointed as Interim CEO in November 2024. After assessing Ms. Blahova’s considerable contributions as Interim CEO and her depth of experience at Euro Manganese and at other companies, the Board determined that she is the best-qualified individual to continue to advance the Company’s strategy and execute on the development of the Chvaletice Manganese Project (the “Project“).
Martina Blahova, President and CEO of Euro Manganese commented, “I am honoured to be appointed CEO during this transformative period for both Euro Manganese and the European battery materials industry. In recent months, we’ve secured critical government designations, made significant progress on measures to strengthen our financial position, and validated the Project’s strategic relevance to Europe’s decarbonization goals. I am incredibly proud of our team’s achievements and excited to build long-term value for our stakeholders as we advance our vision of providing a resilient, local, and sustainable supply of high-purity manganese.”
Mr. Rick Anthon, Chairman of the Board, added, “Martina has been instrumental in advancing Euro Manganese’s mission to become Europe’s leading producer of high-purity manganese. As Interim CEO, she demonstrated a clear vision, deep strategic insight, and steady leadership, which are qualities that have helped position the Chvaletice Manganese Project at the heart of Europe’s clean energy transition. Following a robust period of progress under her guidance, the Board is pleased to confirm her appointment as CEO and looks forward to working with her as we move to the next phase of growth.”
Since joining Euro Manganese in 2018, Ms. Blahova has held various senior leadership roles including Chief Financial Officer and Interim CEO, helping guide the company through significant project development milestones and operational transformation. As CEO, she will continue to focus on advancing the Company’s long-term growth strategy, delivering value to shareholders, and fostering a culture of excellence.
About Martina Blahova
Ms. Blahova has served as the Chief Financial Officer of the Company since January 2020, and Interim CEO since November 2024. She has extensive financial and leadership experience gained from working in Canada, the Czech Republic, and in the UK. Her full bio is available here.
About Euro Manganese
Euro Manganese is a battery materials company focused on becoming a leading producer of high-purity manganese for the electric vehicle industry. The Company is advancing development of the Chvaletice Manganese Project in the Czech Republic and an early-stage opportunity to produce battery-grade manganese products in Bécancour, Québec.
The Chvaletice Project is a unique waste-to-value recycling and remediation opportunity involving reprocessing old tailings from a decommissioned mine. It is also the only sizable resource of manganese in the European Union, strategically positioning the Company to provide battery supply chains with critical raw materials to support the global shift to a circular, low-carbon economy.
Euro Manganese is dual listed on the TSX-V and the ASX.
Authorized for release by the Chairman of Euro Manganese Inc.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) or the ASX accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this news release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company, its Chvaletice Project, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-Looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company.
Forward-Looking statements include statements regarding director appointment process and any expected outcome and ability to navigate current market conditions. All forward-looking statements are made based on the Company’s current beliefs including various assumptions made by the Company, including that the Chvaletice Project will be developed and operate as planned, the Company will obtain sufficient financing, and that the Company will be able to meet the conditions of its secured financing. Factors that could cause actual results or events to differ materially from current expectations include, among other things: insufficient working capital; inability to meet the conditions of its secured financing, risks due to granting security, lack of availability of financing for developing and advancing the Chvaletice Project; the potential for unknown or unexpected events to cause contractual conditions to not be satisfied; developments in EV (Electric Vehicles) battery markets and chemistries; risks related to fluctuations in currency exchange rates; and regulation and changes in laws by various governmental agencies. For a further discussion of risks relevant to the Company, see “Risk Factors” in the Company’s annual information form for the year ended September 30, 2024, available on the Company’s SEDAR+ profile at www.sedarplus.ca.
Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
Appendix A
Summary of Material Contract Terms for Incoming Chief Executive Officer
In accordance with ASX Listing Rule 3.16.4, the following are the material terms of the employment agreement with Ms. Martina Blahova for the role of Chief Executive Officer of Euro Manganese Inc. (“EMN“), which was entered into effective May 12, 2025.
The key remuneration and contract terms related to Ms. Blahova’s employment agreement are set out below:
Effective Date:
May 12, 2025
Term:
Permanent CEO
Fixed Annual Remuneration (FAR):
CAD$450,000 per annum, to be taken as cash.
Incentives:
Short Term Incentive Plan (STIP):
Ms. Blahova is eligible for a short term incentive plan of up to 75% of her FAR based on the achievement of certain corporate and individual performance targets, payable as a cash bonus. Board has discretion to amend STIP performance targets and payment schedule upon certain events and/or transactions, including in the event of change in control.
Annual awards under STIP are subject to Ms. Blahova’s individual performance (achievements and conduct) and EMN and Ms. Blahova achieving Board-approved targets.
Service Bonus
Ms. Blahova will be entitled to receive a service bonus equal to 12 months of her FAR payable upon the occurrence of a change in control of the Company and/or its subsidiary as a retention bonus. This payment is not connected with any actual or potential termination of Ms. Blahova’s Employment Agreement. A change of control for this purpose includes 40% change in ownership or voting power of the Company and/or its subsidiary.
Long Term Incentive Plan (LTIP):
The form of Ms. Blahova’s participation in EMN’s LTIP is by way of Stock Option Plan and Board approval.
Stock options granted to Ms. Blahova can range from 0% – 100% of the target LTIP opportunity, based upon the achievement of corporate and individual performance targets. Ms. Blahova’s annual performance is measured against corporate and individual performance objectives, the weighting of each being dependent upon her role in the organization and relative influence over corporate performance objectives. Any future stock option grants to Ms. Blahova are expected to have an expiry of 10 years, and the vesting schedule will be 1/3 of the stock option grant will immediately, 1/3 will vest on the first anniversary of the date of the grant, and 1/3 will vest on the second anniversary of the date of the grant, all subject to the Board’s discretion
Termination Provisions:
Resignation by Ms. Blahova
Ms. Blahova may terminate her employment at any time by giving EMN not less than six weeks’ written notice.
Termination by EMN with Notice
The Company may terminate Ms. Blahova’s employment at any time with 12 months severance. Additionally, upon a termination without cause, all unvested stock options shall vest.
Termination by EMN Without Notice
Upon the Company’s termination of Ms. Blahova’s employment for cause, Ms. Blahova shall not be entitled to reasonable written notice of termination or pay in lieu of notice of termination, or any other compensation or damages for severance.
The Industry’s First High-Volume Class-8 Hydrogen Refueling Station in the United States
HydroFleet, Inc.(HydroFleet) is excited to announce the construction of its new hydrogen production and refueling station at the new HTWO Energy Savannah site in Pooler, Georgia. This state-of-the-art facility represents a significant investment in clean energy and sustainable transportation solutions, aimed at servicing zero-emission FCEV heavy trucks. This investment will significantly enhance the region’s clean energy infrastructure, supporting zero-emission heavy-duty trucks and other clean energy vehicles, including port applications and nearby rail, while contributing to a sustainable future.
HTWO Energy Savannah Refueling Bay
HTWO Energy Savannah Station Depictions are Represented for the Planned Pooler, GA, Facility
“Pooler is an ideal location for HydroFleet’s facility due to the proximity to major interstates, the Port of Savannah, and prospective fleet customers,” said Scott Moe, President and CEO, HydroFleet, expressing his enthusiasm for the project. “We know customers want zero-emission fleets but have struggled to source the entire hydrogen ecosystem at a competitive price. Through strategic partnerships and proven, safe technology, HydroFleet solves this challenging industry problem. We look forward to partnering with Pooler to lead the clean energy transition to cost-effective, emission-free heavy truck fleets here in Georgia and across the U.S.”
HydroFleet’s investment in Pooler is expected to bring significant economic benefits to the area, creating jobs and positioning Pooler, and the greater Savannah, GA, area, as a leader in clean energy solutions. The facility will utilize advanced hydrogen production and distribution technology to reduce emissions and noise pollution, contributing to a cleaner, more sustainable future for the community.
“HTWO Energy Savannah is a breakthrough hydrogen production and refueling station for the heavy-duty trucking industry, allowing zero-emissions trucks to quickly and easily refuel at a single convenient location in the Savannah region,” said Jim Park, SVP, commercial vehicle and hydrogen fuel cell business, Hyundai Motor North America. “The HTWO Energy Savannah hydrogen station will also truly fulfill our vision for Hyundai Motor Group Metaplant America (“HMGMA”) Clean Logistics, allowing our innovative new electric vehicle plant to transport plant shipments within a clean, zero-emissions ecosystem.”
“This marks a significant step forward in the decarbonization of emissions-intensive port operations and major logistics corridors,” said Jonathan Choi, CEO, HTWO Logistics. “HTWO Energy Savannah provides hydrogen fuel for our Hyundai XCIENT hydrogen-powered class 8 truck fleet, which provides clean logistics for Hyundai’s new Hyundai Motor Group Metaplant America.”
John Porter, CEO of Capital Development Partners, the property owner and project developer, added, “We are thrilled to collaborate with HydroFleet on this groundbreaking project. This hydrogen production station will not only enhance the local economy but also establish Pooler as a leader in clean energy solutions. Our commitment to sustainable development aligns perfectly with HydroFleet’s vision for a greener future.”
Seth Greengrass, Director, Origination of Axpo, the global energy contract provider for the project, commented, “Axpo is proud to support HydroFleet’s innovative hydrogen production facility. Our expertise in energy trading and risk management ensures a reliable and efficient supply of feedstock, contributing to the success of this environmentally friendly initiative.”
HydroFleet also partnered with the Savannah Economic Development Authority (“SEDA”) and the Southeast Hydrogen Energy Alliance (“SHEA”) in development of the cutting-edge hydrogen facility. The collaboration encompassed comprehensive planning, strategic site selection, meticulous permitting processes, and robust public education initiatives, ensuring the project’s success and community engagement.
The deal was completed with legal assistance from Jennifer Surprenant and Raffael Fiumara, both shareholders of Greenberg Traurig LLP. HydroFleet was advised by Lazard, Inc.
For more details, please contact: Leam Nelson Chief Business Officer, HydroFleet Email: info@hydrofleet.com Phone: (833) 493-7635
About HydroFleet: HydroFleet is at the forefront of the clean energy revolution, spearheading the transition to hydrogen-powered mobility and adoption of green technology. We equip industries and fleets with an evolving range of streamlined solutions that maximize operational efficiency and profitability. HydroFleet’s versatile hydrogen solutions fuel an increasing range of hydrogen applications, making the transition to a sustainable fleet effortless. HydroFleet, Power to make a difference®. Visit www.hydrofleet.com.
Contact Information Leam Nelson Chief Business Officer info@hydrofleet.com (833) 493-7635
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SOURCE: HydroFleet, Inc.
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HTWO Pooler Facility
HTWO Energy Savannah Station Depictions are Represented for the Planned Pooler, GA, Site
The Board of Directors (“Board”) of Mooreast Holdings Ltd. (“Mooreast” or the “Company”), and together with its subsidiaries, the “Group”) wishes to provide an update on several recent developments:
Completion of Multi-Buoy Mooring Upgrade Project at Gulf of Thailand
Further to the Company’s announcement dated 12 November 2024, Mooreast wishes to update that the project to upgrade a multi-buoy mooring (“MBM”) system off the eastern shore of the Gulf of Thailand was completed recently. The Group expects to recognise approximately S$8.8 million for this project in the first half of the financial year ending 31 December 2025 (“1H2025”).
The successful completion underscores the Group’s capabilities to handle sizeable mooring projects within the oil and gas (“O&G”) industry. Orders related to the O&G sector had been building up in 2H2024, and have continued to gain momentum in the first four months of FY2025. Even with the delivery of the MBM project, current orders at hand are at least equal to those at the end of FY2024. Accordingly, the Group expects revenue in 1H2025 to exceed the S$13.7 million recorded in 1H2024.
Additionally, the Group does not expect that the administrative and other operating expenses to increase significantly in FY2025 given that the current staffing is sufficient to support operations and business development in the near term and the absence of fees for professional services rendered to support the Group’s business repositioning efforts in FY2024.
Management is actively reviewing and implementing cost control measures to improve overall cost efficiency and profitability moving forward.
Update on Floating Wind Energy Projects in Europe and North Asia
On 1 January 2025, Mr. Eirik Ellingsen (“Mr. Ellingsen”), a Norwegian with deep experience in the offshore and marine sector, was appointed Chief Executive Officer (“CEO”). In the last four months, he has been working closely with Mr. Sim Koon Lam (“Mr Sim”), the founder, Executive Director and Deputy Chairman, on business development strategies amid an increase in commercialisation of floating wind energy projects worldwide.
Mr. Ellingsen has been actively engaging players involved in floating wind energy projects in Europe and North Asia, and participated in the WindEurope conference in Copenhagen, Denmark, earlier this month.
While the ‘first wave’ of implementation – involving largely demonstration and precommercial projects – had been delayed by the supply chain disruptions caused by the COVID-19 pandemic, the industry has clearly advanced to the ‘second wave’ – commercialisation at scale.
With the progress toward commercialisation, the Environmental Resources Management’s “Q3 2024 Global Offshore Wind Market Update” reported over 390 GW of floating wind projects in various planning and development stages.
Compared to 50-100 megawatts (“MW”) typical at pre-commercialisation, the latter involves projects of at least 500 MW each. Many of these projects are reaching the final investment decision (“FID”) phase in 2026 and 2027. These include multigigawatt (“GW”) scale projects which can contribute substantially to the growth of offshore wind capacity globally. Typically, mooring and rigging solutions, including anchors, chains, and ropes, account for between 5% to 10% of the total value of each floating wind energy project.
Approximately 5.5 GW of floating wind capacity is expected to reach FID in the next 24-36 months. Of this, about two-thirds involve projects in Europe, including those in the North Sea, while a third will come from North Asia. These projects may be deemed as the addressable market of Mooreast. As the Group is currently not targeting U.S. floating wind energy projects, it is not subject to U.S. Government tariffs for its products.
Already, Mooreast is working closely with these projects and has indicated its component costings. As these progress to full implementation, developers and partners are looking for a reliable manufacturer capable of handling the large volumes of anchors and mooring components required for these large-scale projects.
The Group believes it is uniquely positioned, given its status as Asia’s only ultra-high power anchor designer and manufacturer and its global footprint. Mooreast recently opened new offices in Taiwan and Malaysia in June and July 2024, respectively, expanding its presence in the Asian region.
The Group continues to assess the ability of its present facility at 51 Shipyard Road in Singapore to handle production of anchors and components as these projects advance to formal tender, noting that developers have indicated suppliers would need to demonstrate beforehand sufficient capacity to handle the indicative volume. Should such orders escalate beyond the current capacity of the existing yard, Mooreast would need to explore access to additional capacity. Meanwhile, the Company continues to develop its supply chain to better serve its customers globally.
The Company will provide updates to shareholders as and when there are material developments regarding floating renewable energy projects.
BY ORDER OF THE BOARD MOOREAST HOLDINGS LTD. Mr Eirik Ellingsen Chief Executive Officer 23 April 2025
This announcement has been reviewed by the Company’s sponsor, UOB Kay Hian Private Limited (the “Sponsor”).
This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (“SGX-ST”) and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.
The contact person for the Sponsor is Mr Lance Tan, Senior Vice President, 8 Anthony Road, #01-01, Singapore 229957, telephone (65) 6590 6881.
EdgePoint Towers Sdn Bhd (EdgePoint) – part of EdgePoint Infrastructure, a leading ASEAN-based independent telecommunications infrastructure company, has successfully launched its first solar hybrid site, marking a key milestone in its renewable energy initiatives. This deployment represents a significant step toward advancing sustainable energy solutions in Malaysia’s telecommunications sector.
The new solution provides up to 100% of the energy required to operate telecommunications equipment, reducing dependence on diesel fuel. With a 5.9-kilowatt peak (kWp) capacity, the site operates autonomously using photovoltaic (solar) energy, complemented by battery storage.
Muniff Kamaruddin, Chief Executive Officer of EdgePoint Towers, said, “We are proud to contribute to the deployment of renewable energy solutions that meet current and future needs for both sustainability and long-term cost efficiency. These solutions are especially important for remote and difficult-to-reach areas, such as transport corridors like highways, tunnels, bridges, or terminals, where quality coverage is essential for transient users. The opportunities to enhance national connectivity are vast, and EdgePoint is eager to continue working closely with our partners to advance sustainable solutions that improve coverage and reduce carbon emissions across the industry. This deployment is expected to reduce the site’s annual carbon emissions by approximately 78%, while also ensuring seamless connectivity for travelers along the highway.”
Muniff concluded, “Solar energy has proven to be an ideal solution for Malaysia, given its equatorial climate and high levels of solar insolation. By integrating solar power into telecommunications infrastructure, we are reducing reliance on non-renewable energy sources, lowering operational costs, and significantly decreasing emissions. Solar hybrid solutions are an adjacent focus area for us, it is a key part of our broader strategy of implementing innovative, sustainable solutions, driving an industry-wide transformation toward cleaner, more efficient operations and we are optimistic about future collaborations with both Mobile Network Operators (MNOs) and non-MNO clients to help them meet their green objectives. As we expand our renewable energy initiatives, we aim to set new benchmarks for energy-efficient telecom infrastructure in Malaysia, helping our partners transition to greener operations without compromising connectivity, network quality, and reliability.”
By the end of 2025, EdgePoint plans to complete more full solar or solar hybrid sites across the country, further strengthening its commitment to sustainable telecom infrastructure.
EdgePoint Infrastructure is the fastest-growing multi-country tower company in ASEAN, with 15,800 sites in its portfolio out of which 1,800 sites are in Malaysia making it the second-largest tower company in Malaysia.
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ABOUT EDGEPOINT INFRASTRUCTURE EdgePoint Infrastructure is an ASEAN based independent telecommunications infrastructure company that aspires towards Building a Connected, Digital ASEAN. Headquartered in Singapore with operations in Malaysia, Indonesia and the Philippines, through EdgePoint Towers Sdn Bhd, PT Centratama Telekomunikasi Indonesia, Tbk and EdgePoints Towers Inc. respectively, the company is focused on providing sharable and leading-edge telecom structures, small cells and in-building systems. EdgePoint aims to be an industry leader through scale and innovation, driving operational efficiencies through the adoption of analytics and digital technologies.
The Indonesia Carbon Capture and Storage Center (ICCSC) is organizing The 3rd International & Indonesia CCS Forum 2025, an international-scale forum aimed at accelerating the development of Carbon Capture and Storage (CCS) technology as a key pillar toward a green economy and sustainable growth in Indonesia. The event will take place on October 7-8, 2025, at Hotel Mulia, Jakarta, featuring over 100 global speakers from various sectors.
Belladonna Troxylon Maulianda, Executive Director of ICCSC, emphasized that this forum is designed as a strategic platform to bring together global stakeholders, including governments, industry players, academics, and investors. “CCS plays a crucial role in reducing carbon emissions and supporting Indonesia’s net-zero targets. Through this forum, we aim to strengthen global collaboration to address challenges and leverage opportunities in CCS development,” said Belladonna.
The forum’s theme, “Advancing Indonesia as a CCS Hub Leader in the Asia Pacific: Achieving Net Zero and Economic Growth”, reflects a shared commitment to driving sustainable growth through clean energy. “We hope this event will generate innovative solutions and policy recommendations to accelerate CCS development in Indonesia and globally,” she continued.
Evan Lukas, Chairman of the Organizing Committee for The 3rd IICCS Forum 2025, explained that this event will feature various exciting programs, including high-level panel discussions, exhibitions of the latest technology, and strategic networking sessions. “This forum is not only a platform for sharing knowledge but also a place for the birth of strategic partnerships and innovative solutions to global challenges in CCS development,” said Evan.
“We invite all stakeholders, including the government, industry players, and the community, to actively participate in this forum. Together, we can build a network of regional CCS hub towards a low-carbon future and support energy transition” added Evan.
ICCSC hopes this forum can become a catalyst for strengthening Indonesia’s position as a global leader for regional CCS hub that decarbonize heavy industries, while continuing to meet energy demand and grow economies.
Elen Setiadi, Deputy Minister for Energy and Mineral Resources, Coordinating Ministry for Economic Affairs of The Republic of Indonesia expressed appreciation for the forum’s organization. “The government fully supports this event as part of efforts to achieve energy transition and net-zero emission targets. CCS is one of the key solutions in Indonesia’s clean energy transition,” said Elen.
The 3rd International & Indonesia CCS Forum 2025 also offers participants the opportunity to interact directly with industry leaders, experts, and policymakers. In addition to the main programs, the event will showcase the latest CCS technology exhibitions featuring innovations from global companies.
The ICCSC invites all stakeholders, including strategic partners, industry associations, government representatives, and media, to join this forum. The event is not only a moment for discussion but also for taking concrete steps toward realizing a sustainable clean energy future.
For more information on The 3rd International & Indonesia CCS Forum 2025, visit the official website: www.iiccsforum.com
About IICCS The International & Indonesia Carbon Capture and Storage Center (IICCS) is a platform dedicated to promoting CCS technology and facilitating collaboration between governments and industries in addressing climate change through CCS implementation.
About ICCSC The Indonesia Carbon Capture and Storage Center (ICCSC) is a community of experts from various industry, including engineering, science, policy, and business, united by a shared commitment to finding practical solutions to CO2 emission challenges. Through research, innovation, and advocacy, we strive to accelerate carbon capture and storage development in Indonesia and position the country as a Regional CCS Hub. Visit iccscenter.com.
Euro Manganese Inc. (TSXV: EMN) (ASX: EMN) (FSE: E060) (the “Company” or “Euro Manganese“) is pleased to announce that Mr. Rick Anthon has been appointed Chairman of the Board of Directors (the “Board“) as of April 11, 2025 (Vancouver). In addition, the Company is providing an update on the Company’s previously announced upsized C$11.2 million (A$12.3 million) brokered unit private placement financing (the “Financing“).
Appointment of New Chairman
Mr. Anthon was originally expected to join the Board upon the closing of the Financing, which is now anticipated to close on or about May 22, 2025, subject to shareholder approval. However, his appointment has been brought forward following unanimous approval by the other directors. The Company’s current Chairman, Mr. John Webster, is stepping down as Chairman but will remain on the Board and as Chair of the Audit Committee.
Mr. Anthon’s appointment comes at a pivotal time for Euro Manganese as it advances the development of its Chvaletice Manganese Project. His addition to the Board brings decades of battery metals experience and reflects the Company’s continued focus on building a strong leadership platform to support its role as a key contributor to Europe’s battery materials supply chain.
Martina Blahova, Interim CEO of Euro Manganese, commented, “Rick’s early appointment reflects the confidence we’ve built with key stakeholders and our focus on execution. His depth of experience in the resource sector and proven leadership will be invaluable as we continue to scale the Chvaletice Project and deliver on our strategic priorities. On behalf of the Board, we would like to express our gratitude to John for his outstanding contribution to Euro Manganese during his tenure as Chairman, and his exceptional stewardship during these recent transformative years. We look forward to continuing to receive his guidance and support as a director and as Chair of the Audit Committee.”
Rick Anthon, Euro Manganese’s new Chairman said, “I am honoured to step into the role of Chairman at this important stage for Euro Manganese. The Company is exceptionally well-positioned to play a critical role in Europe’s battery materials supply chain, and I look forward to working closely with the Board and management team to help drive the Chvaletice Project forward and create long-term value for all stakeholders. As I take on this new responsibility, I want to express my sincere appreciation to John for his exceptional leadership and unwavering dedication to Euro Manganese. His strategic vision and steady guidance have been instrumental in positioning the Company for the next stage of growth.”
During his tenure as Director of Corporate Development at Allkem Limited, Mr. Anthon led the company’s corporate development activities while it evolved from a junior explorer to a major industry player, navigating a successful IPO and playing a key role in Allkem’s A$16 billion merger with Livent to create Arcadium Lithium, now one of the world’s largest lithium producers and a NYSE-listed company that is being acquired by Rio Tinto. He currently serves as Chairman of the Board at Savannah Resources, a European-focused lithium producer, as well as Chairman of Greenwing Resources Limited, which has lithium brine operations in Argentina and a graphite project in Madagascar. Mr. Anthon is also Chairman of Rapid Lithium Limited, which is focused on lithium exploration in South Dakota, and Non-Executive Director at Savannah Goldfields Limited.
John Webster, Euro Manganese’s outgoing Chairman said, “Serving as Euro Manganese’s Chairman has been an honour. We have an extremely capable and enthusiastic management team, and with Rick joining as Chairman I am confident that this team will continue to execute on this next chapter of the Company’s strategic vision and plans. I look forward to continuing to work with management and my fellow Board members to develop the Chvaletice Manganese Project and enhance value for all shareholders.”
Financing Update
TSX-V Conditional Approval
The Company also announces that the Financing has received conditional approval from the TSX Venture Exchange (“TSX-V“). The TSX-V’s final acceptance of the Financing is conditional upon the Company satisfying the filing requirements set forth in the conditional approval letter.
Completion of the Financing is also conditional upon receipt of the necessary shareholder approvals to be obtained at the Company’s upcoming Annual General and Special Meeting of shareholders (the “Meeting”) to be held virtually on May 15, 2025. The Company will mail Meeting materials to shareholders in due course and encourages all shareholders to vote in advance of the Meeting by returning their proxy or voting instruction form.
Share Purchase Plan (“SPP”)
The Company also confirms a revised launch date of the SPP for later in April (see below), details of which were initially announced on March 6, 2025, and initially updated on April 1, 2025, for aggregate gross proceeds of A$1.5 million (approximately C$1.4 million). On April 1, 2025, Orion OMRF (BK) LLC (“Orion“) agreed that if there is a shortfall between the maximum amount of the SPP and the total number of securities taken up under the SPP, Orion will subscribe for the securities up to a maximum of A$1.5 million on the same terms as the SPP, subject to regulatory requirements, any required regulatory and shareholder approvals and completion of the Financing and SPP.
Updated Indicative Financing Timetable
The indicative timetable for the SPP has been revised as set out below:
Vancouver
Australia
SPP Record Date
n/a
Wednesday, March 5, 2025
Lodgement of Prospectus with ASIC
n/a
Wednesday, April 23, 2025
Share Purchase Plan Opens
n/a
Monday, April 28, 2025
Share Purchase Plan Closes
n/a
Friday, May 9, 2025
Meeting to approve the Financing, SPP and related matters
Thursday, May 15, 2025
Friday, May 16, 2025
Settlement of New Securities Issued under the Financing and SPP
Wednesday, May 21, 2025
Thursday, May 22, 2025
Allotment of New Securities issued under the Financing and SPP
Thursday, May 22, 2025
Friday, May 23, 2025
About Euro Manganese
Euro Manganese is a battery materials company focused on becoming a leading producer of high-purity manganese for the electric vehicle industry. The Company is advancing development of the Chvaletice Manganese Project in the Czech Republic and an early-stage opportunity to produce battery-grade manganese products in Bécancour, Québec.
The Chvaletice Project is a unique waste-to-value recycling and remediation opportunity involving reprocessing old tailings from a decommissioned mine. It is also the only sizable resource of manganese in the European Union, strategically positioning the Company to provide battery supply chains with critical raw materials to support the global shift to a circular, low-carbon economy.
Euro Manganese is dual listed on the TSX-V and the ASX.
Authorized for release by the Interim CEO of Euro Manganese Inc.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) or the ASX accepts responsibility for the adequacy or accuracy of this release.
Enquiries
Martina Blahova Interim Chief Executive Officer +1 (604) 681-1010 martina@mn25.ca
Certain statements in this news release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company, its Chvaletice Project, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-Looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company.
Such forward-looking information or statements also include, but are not limited to, statements regarding the Company’s intentions regarding the development of the Chvaletice Project, the ability of the Company to scale the Chvaletice Project and deliver on strategic priorities and create long-term value for all stakeholders, statements regarding the terms of the Financing, including completion thereof, the anticipated closing date of the Financing, receipt of the final regulatory and shareholder approvals for the Financing and the SPP, the holding of the Meeting, the terms of the SPP, including completion thereof, and issuance of the SPP Prospectus.
All forward-looking statements are made based on the Company’s current beliefs including various assumptions made by the Company including that the Chvaletice Project will be developed and operate in accordance with current plans, that the Company will be able to raise the financing that it requires, and that it will meet conditions of its secured credit facility. Factors that could cause actual results or events to differ materially from current expectations include, among other things: risks and uncertainties related to maintaining necessary licenses or permits; risks related to acquisition of surface rights; securing sufficient offtake agreements; the availability of acceptable financing, and risks related to granting security; the potential for unknown or unexpected events to cause contractual conditions to not be satisfied; developments in EV (Electric Vehicles) battery markets and chemistries; and risks related to fluctuations in currency exchange rates, changes in laws or regulations; and regulation by various governmental agencies. For a further discussion of risks relevant to the Company, see “Risk Factors” in the Company’s annual information form for the year ended September 30, 2024, available on the Company’s SEDAR+ profile at www.sedarplus.ca.
Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
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From 18 to 20 June 2025, the Japan Energy Summit & Exhibition will return to Tokyo Big Sight, convening global energy leaders, influential policymakers, and industry executives to advance Japan’s energy transition, investment landscape, and strategic role in the global energy system. Co-hosted by JERA and Tokyo Gas, this high-level platform will once again provide critical insight into the country’s evolving energy strategy under the Seventh Strategic Energy Plan.
Held amid rising global energy demand, increasing geopolitical complexity and intensifying decarbonisation targets, Japan’s flagship energy platform will address the dual imperatives of energy security and sustainability. This year’s Summit will provide a critical forum to examine solutions that advance clean energy adoption, enable resilient infrastructure, and foster international cooperation.
Confirmed speakers include:
Wael Sawan, CEO, Shell Plc
Yoshinori Kanehana, Chairman of the Board, Kawasaki Heavy Industries
Koji Ota, President & CEO, Chiyoda Corporation
Jeong-Joon Yu, Vice Chairman, SK Group & CEO, SK On
Government officials from METI, MLIT, and Thailand’s Energy Regulatory Commission
The Strategic Summit programme will feature thematic discussions on:
Energy Security and LNG Supply Stability – Ensuring procurement resilience, infrastructure development, and supply diversification.
Hydrogen and Ammonia Market Development – Scaling deployment through enabling policy frameworks, capital mobilisation, and regional cooperation.
Carbon Pricing and Emissions Trading – Evaluating regulatory and market-driven models for decarbonisation.
Financing the Energy Transition – Unlocking investment for infrastructure, renewables, and low-carbon technologies.
Running in parallel, the Technical Conference will convene engineers, project developers, and R&D leaders to present practical solutions on wide-ranging topics including; grid digitalisation, battery technologies, carbon capture and storage, and next-generation nuclear systems.
The Climatetech Theatre, a dedicated platform within the exhibition, will host expert-led panels on scaling renewable energy integration, evaluating the commercial viability of fusion energy, and advancing CCUS technologies. In addition, the Energy Innovators Challenge will cast a spotlight on breakthrough ideas and start-up solutions, addressing some of the most urgent challenges in the global energy transition.
While the content stages bring together industry leaders, policymakers, technical experts, and innovators for high-level dialogue, the exhibition is where strategy is translated into implementation. Serving as a dynamic international platform, it showcases the technologies, infrastructure, and services critical to delivering Japan’s energy transformation. With participation from leading companies including Aramco Gas, ADNOC, Chevron, JOGMEC, JERA, Tokyo Gas, Engie, Ebara Corporation, Kraken Technologies and Cheniere, the exhibition floor will highlight market-ready innovations across LNG infrastructure, hydrogen and ammonia deployment, renewable systems, carbon management, and digital solutions, reinforcing Japan’s position at the forefront of energy security, decarbonisation, and clean technology investment.
For more information or to register for Japan Energy Summit & Exhibition 2025, please visit: www.japanenergyevent.com
About dmg events
Headquartered in Dubai, United Arab Emirates since 1989, with offices in Canada, Egypt, Nigeria, Saudi Arabia, Singapore, South Africa, Thailand and the United Kingdom, dmg events is an international exhibitions, conference and intelligence company, attracting more than 1 million attendees to a portfolio of over 80 events each year. This global portfolio works closely with key stakeholders across the industry to facilitate pragmatic dialogue, serving as platforms for the latest discussions at the forefront of change. For more information visit www.dmgevents.com.
