To celebrate the 10th anniversary of the commissioning and operation of the Nam Ngiep 2 Hydropower Station in Laos, China International Water & Electric Corp.(CWE), a subsidiary of China Communications Construction Company (CCCG), held “Lancang Mekong Green Course” Open Day event from July 4 to 5, 2025. The event drew wide participation from students and faculty of the National University of Laos, government representatives at various levels, and residents from surrounding communities, who came together to witness the station’s achievements over the past decade.
Nam Ngiep 2 is the second Build-Own-Operate-Transfer (BOOT) hydropower project developed by the CWE in Laos. With a total installed capacity of 180 MW, the station began commercial operation in October 2015. Over the past 10 years, it has generated over 4.2 billion kilowatt-hours of electricity, supplying power to approximately 780,000 people and making a significant contribution to the energy stability of northern Laos. In 2022, it was awarded the Second-Class Labor Medal, a national honor of Laos.
This Open Day event was based on the CWE’s “Lancang Mekong Green Course” brand project, focusing on local university students and youth. Five thematic modules were designed around the station’s 10th anniversary: Practical Class, Research Class, Science Class, Activity Class, and Culture Class. A photo exhibition titled “10 Years of Development of Nam Ngiep 2” was also set up, showcasing the station’s construction milestones, operational management, environmental protection efforts, and community engagement practices.
Led by Chinese and Lao engineers, participants engaged in immersive learning through practical, research, and science classes. These sessions helped local youth gain a hands-on understanding of hydropower generation, the multifunctional role of water conservancy projects, and the technological innovations within China-Laos joint projects. A “Decade Together” sharing session featured long-serving employees from both countries who shared personal stories of growing alongside the project—encouraging young students to pursue careers in clean energy.
A student from the Faculty of Engineering at the National University of Laos, said:“This event taught me so many things beyond the textbooks. I saw firsthand how the station operates and felt the commitment of Chinese enterprises to social responsibility and ecological protection. It’s an honor to witness this important 10-year milestone in person.”
In the Activity Class, the station worked with the local government to organize eco-friendly activities such as tree planting and fish fry release. Around 2,000 saplings—including mango and longan—were planted, and approximately 100,000 juvenile fish such as tilapia and crucian carp were released, reinforcing the station’s commitment to green development and community engagement. The government of Phaxay awarded the station an “Ecological Protection Honor Certificate for the Mekong River Basin.” County Chief Khamla Keodavanh commented:
“Nam Ngiep 2 not only provides stable and clean power to Laos, but also protects the river basin’s ecosystem through activities like tree planting and fish release. This honor is the best recognition of its commitment to sustainable development.”
During the Culture Class, students were invited to experience traditional Chinese cuisine. Under the guidance of the station’s staff, they learned to wrap sticky rice dumplings (zongzi), roll rice balls (tangyuan), make dumpling wrappers, and prepare green rice cakes (qingtuan). The festivities also included a Chinese hotpot meal and a celebratory cake to mark the station’s 10th “birthday”, creating a joyful and festive atmosphere.
Throughout the event, students actively posted their experiences and “highlight moments” on international social media platforms, attracting widespread attention and engagement from local youth. The event-related content reached over 350,000 views online. Local media outlets also covered the event live.
Over the years, the hydropower station has brought tangible economic, social, and environmental benefits to local communities by building infrastructure, supporting resettlement villages, and preserving cultural heritage. Village chief from Poung Village shared:“Ten years ago, due to our remote location and difficult terrain, our village was the only one in Xiengkhuang Province without electricity. With continuous support from Nam Ngiep 2, we finally got power. Last year, the station even helped us build our first primary school. Thanks to the station, our children now have a classroom where they can learn in peace. The station has not only brought light to our village, but also hope for the future.”
Serving as a platform for cultural exchange, the “Lancang Mekong Green Course” Open Day vividly showcased the decade-long journey and accomplishments of the China-Laos joint project. It also deepened local youth’s understanding of the green energy sector and opened a new chapter in regional energy cooperation across the Lancang-Mekong region.
Potassium-ion batteries could have a higher energy density than sodium-ion batteries. This is important for large-scale energy storage such as for renewable energy.
In a review published in Science and Technology of Advanced Materials, researchers have surveyed the battery technologies that will be vital for a sustainable green transition. Eunho Lim and colleagues at Korea’s Dongguk University discuss recent advances and challenges, and point towards the research needed to develop an alternative to lithium-ion batteries.
Although lithium-ion batteries have been invaluable in the electronics revolution—powering laptops, smartphones, electronic vehicles, and much more—their expanding use faces a critical challenge. Lithium is not a common resource. Increasing demand has turned it into a high-value, strategic resource, and the green transition is expected to increase demand further still.
One alternative is to develop battery technologies based around a more common material. Sodium-ion batteries are an option, and the technology is nearly ready for commercialization. But potassium-ion batteries would be even better, since they could have a higher energy density, which is especially important for large-scale energy storage, such as for renewable energy.
“Potassium-ion batteries are emerging as a viable alternative due to the abundance and cost-effectiveness of potassium, but realizing their potential requires the development of advanced anode materials tailored to the unique properties of potassium ions,” explains Lim.
Professor Lim’s review addresses the research needed to realize the potential of potassium-ion batteries. The paper systematically examines the strengths and weaknesses of different anode materials and the electrochemical mechanisms each would rely on. The paper also outlines strategies that could overcome the weaknesses of each approach, as well as the trade-offs between performance and stability. One important point that emerges is the interaction of electrochemical parameters and physical structures in determining the potassium-ion batteries’ capacity and longevity. Based on this overview, the team highlights paths for future research to advance potassium-ion battery technology.
Lim plans to build on this groundwork, aiming to design new materials that can deliver the promise of potassium-ion batteries while working around their limitations. “My research will focus on the development of cost-effective, high-performance, and safe anode materials for potassium-ion batteries,” he says. He also plans to use advanced characterization techniques to investigate some of the fundamental phenomena that happen in the battery materials. “Understanding these mechanisms will be crucial for optimizing material design and electrode architecture.”
“Ultimately,” he says, “my goal is to contribute to the commercialization of potassium-ion batteries by developing materials that can rival or exceed the performance of current lithium-ion battery anodes.”
Further information Eunho Lim Dongguk University, Republic of Korea eunholim@dgu.ac.kr
About Science and Technology of Advanced Materials (STAM)
Open access journal STAM publishes outstanding research articles across all aspects of materials science, including functional and structural materials, theoretical analyses, and properties of materials. https://www.tandfonline.com/STAM
Euro Manganese Inc. (TSXV: EMN) (ASX: EMN) (FSE: E060) (the “Company” or “Euro Manganese“) announced today that it has entered into an offtake term sheet dated June 18 (the “Term Sheet“) with Integrals Power Limited (“IPL“), for the sale of high-purity manganese sulphate from the Company’s Chvaletice Manganese Project (“Chvaletice” or the “Project“) in the Czech Republic.
Highlights
UK-based Integrals Power Limited is a next-generation battery nano-materials company that has developed an innovative and proprietary process for producing high-performance, cost effective and scalable battery cathode materials such as Lithium Iron Phosphate (“LFP“) and Lithium Manganese Iron Phosphate (“LMFP“) for lithium-based batteries.
Euro Manganese and IPL will partner to support the use of the Company’s battery-grade High Purity Manganese Sulphate Monohydrate (“HPMSM“) in IPL’s LMFP cathode material for use in batteries for electric vehicles, grid-scale storage, defence and other applications.
Initial program of test work to determine the compatibility of the Company’s HPMSM with IPL’s production process and the performance of the resulting LMFP cathode material will commence in the third quarter of 2025. Successful completion of this work will pre-qualify Euro Manganese’s HPMSM as a feedstock for IPL’s LMFP cathode and the supply chain served by this new technology, and potentially lead to further collaboration.
Pursuant to the Term Sheet, deliveries are to commence from first commercial production for an initial term of seven years, with the option to renew for additional successive four-year periods. The commencement of the initial term shall be subject to successful qualification by IPL of the Company’s high-purity manganese product from the Chvaletice Demonstration Plant.
Pricing will be subject to market indicators, with mechanisms for increase/decrease tied to certain benchmarks.
The Term Sheet for the future supply of Euro Manganese’s HPMSM to IPL and any licensee of their technology is non-binding and includes terms associated with cost sharing of initial test work.
Martina Blahova, CEO of Euro Manganese, commented:
“We are excited to partner with Integrals Power to advance new battery technologies. IPL’s innovative cathode materials are at the forefront of the global transition towards safer, more sustainable, and cost-effective battery solutions and are designed to support a wide range of applications. We look forward to supplying fully traceable, responsibly produced products that enhance energy efficiency and drive emissions reduction.”
Behnam Hormozi , CEO of Integrals Power, commented:
“Our collaboration with Euro Manganese is a major step forward in securing a reliable, traceable, and local supply of high-purity manganese – a key ingredient in our L(M)FP cathode materials. This partnership enhances Integrals Power’s ability to scale cathode production sustainably while supporting the growing demand for high-performance battery technologies across UK & Europe. It aligns perfectly with our mission to build a resilient, transparent supply chain that underpins the energy transition.”
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.
About Integrals Power
Integrals Power is a next-generation battery technology company committed to accelerated research, development and commercialisation of state-of-the-art battery. IPL’s latest battery material development results empower economical cells with higher performance compared to conventional alternatives. Integrals’ innovations are designed to support a wide range of applications, from electric vehicles (EVs) and grid-scale storage, to defence, motorsports, maritime, and portable power systems, with an emphasis on localised supply chains, high performance, and regulatory compliance. For more information visit: integralspower.co.uk
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.
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 any collaboration between Euro Manganese and IPL to strengthen the LMFP battery supply chain, timelines for testwork, ability to pre-qualify Euro Manganese’s HPMSM as a feedstock for IPL’s LMFP cathode and the supply chain and potentially lead to further collaboration with IPL, ability of Euro Manganese to enter into an offtake agreement with IPL, and ability to supply fully traceable, responsibly produced products that enhance energy efficiency and drive emissions reduction.
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; 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.
Soft electronics are an exciting and innovative class of technology that brings together bendable, stretchable semiconducting materials for applications in areas ranging from fashion to healthcare. Researchers have recently developed a new technique to adjust the properties of liquids that could be used to create soft electronics.
Researchers successfully blended various combinations and proportions of three solvent-free alkyl-π room-temperature liquids that fluoresced red, green, or blue light, with no color variation within the material showing that the alkyl-π liquids had merged evenly. Credit: Image is reproducible by CC-BY license. Please credit the STAM Journal.
Room-temperature alkylated-π molecular liquids (known as alkyl-π liquids) are an exciting new material that holds great promise for soft electronics. However, one challenge with these fascinating liquids lies in fine-tuning their physical, chemical, and electronic properties – including their ability to interact with light – to achieve the desired functionality.
A new study, led by researchers from the National Institute of Materials Science (NIMS) in Tsukuba, Japan, has explored a strategy for blending together alkyl-π liquids to merge their functions homogeneously. The researchers used photoluminescent color tuning to demonstrate how well the process has worked. Their findings have been published in the journal Science and Technology of Advanced Materials.
Previous efforts to control the properties of alkyl-π liquids have taken one of two approaches. The first involves incorporating small amounts of other molecules, such as dyes, into the liquid. “When modulating function by adding solid dopants, the dopant molecules have poor solubility, leading to insoluble aggregates and inconsistencies in properties such as luminescent color,” says Dr. Takashi Nakanishi of the Research Center for Materials Nanoarchitectonics at NIMS.
The second approach involves chemically modifying the alkyl-π liquids. While this can achieve a uniform result, designing and synthesising entirely new molecules is difficult and less time- and cost-effective.
In the new study, researchers synthesised three solvent-free alkyl-π room-temperature liquids that fluoresced red, green, or blue light, and then they blended the liquids together in varying proportions. They successfully created a range of homogeneous liquid blends of colors with no color variation within the material, showing that the alkyl-π liquids had merged evenly.
The team also assessed how well the two liquids had mixed by changing the temperature and studying how the flow of the mixed liquids changed over time at different temperatures. This approach further confirmed that the liquids were successfully blended together.
“The liquid–liquid blending method implemented in this study for alkyl-π liquids facilitates the production of low-volatility, ink-like materials that exhibit a diverse spectrum of uniform luminescent colors, devoid of any color unevenness,” Dr. Nakanishi says. “This means it will be possible to apply or coat the desired function with simple operations such as painting, sandwiching, or soaking the liquid materials wherever needed.”
The research opens the path to blending alkyl-π liquids to vary other functions, such as photoconductivity, charge retention, or gas sensing.
Further information Takashi Nakanishi National Institute for Materials Science (NIMS) nakanishi.takashi@nims.go.jp
About Science and Technology of Advanced Materials (STAM)
Open access journal STAM publishes outstanding research articles across all aspects of materials science, including functional and structural materials, theoretical analyses, and properties of materials. https://www.tandfonline.com/STAM
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) (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.
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.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
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 (“NewShares“) and CHESS Depositary Interests (“NewCDIs“) (together, “NewSecurities“), 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, 2025 and March 31, 2025, the Company undertook a consolidation of its existing securities, including all shares represented by CDIs on the Australian Securities Exchange (“ASX“), at a ratio of five (5) pre-consolidation shares to one (1) post-consolidation share (the “Consolidation“). Subscriptions for all New Securities in the Equity Raising will be completed on a post-Consolidation basis. For the avoidance of doubt, all references to New Securities, Warrants, Broker Warrants, Additional Warrants and all per Share or per CDI dollar figures in this news release are on a post-Consolidation basis. Pre consolidation figures (“PC”) are shown in brackets.
Martina Blahova, Interim CEO of Euro Manganese, commented:
“We are extremely pleased with the robust support demonstrated by both our existing shareholders and new investors, including the notable participation of Mr. Eric Sprott. This strong response, alongside the continued support from EBRD and Orion, underscores the strategic significance of the Chvaletice Manganese Project to Europe’s critical minerals independence and supply chain security, a conviction further reinforced by the recent designation of the Chvaletice Manganese Deposit as a Strategic Deposit by the government of the Czech Republic and the Project’s recognition as a Strategic Project under the EU’s Critical Raw Materials Act.”
Details of the Placement and the SPP
The Company has rescheduled the date of its Annual and Special General Meeting (“ASGM“) from April 22, 2025, to May 15, 2025, where shareholders will be asked to approve the issuance of New Securities and Warrants to be issued under the Placement and the SPP (collectively referred to as the “Equity Raising“). The Company will file a management information circular in connection with the ASGM in due course in accordance with applicable securities laws. The Equity Raising, and all terms related thereto, remain subject to the approval of the TSX-V.
Details of the Placement
The Placement consists of an aggregate of 54,578,350 (PC -272,891,772) New Securities (comprised of 39,671,662 (PC -198,358,310) New Shares and 14,906,688 (PC – 74,533,462 New CDIs)) and 54,578,350 (PC – 272,891,772) Warrants for aggregate gross proceeds of C$9.8m (approximately A$10.8m)1 which will be subject to shareholder approval as required by Listing Rules 7.1, 10.11.1 and 10.11.4 of the ASX to be sought at the ASGM. Warrants issued in connection with the Placement will be exercisable any time prior to the date that is 18 months from the closing of the Placement and have an exercise price of C$0.225 (PC – C$0.045) per New Security.
Included in the Placement are:
(i) subscriptions are to be issued in excess of the number permitted under ASX Listing Rule 7.1, which includes:
14,650,278 (PC – 73,251,410) New CDIs and 14,650,278 (PC – 73,251,410) Warrants subscribed for under the Placement led by the Joint Lead Managers (as defined below) for aggregate gross proceeds of A$2.9m (approximately C$2.6m);
21,400,000 (PC – 107,000,000) New Shares and 21,400,000 (PC – 107,000,000) Warrants subscribed for by EBRD for gross proceeds of C$3.9m (approximately A$4.2m) (the “EBRD Subscription“);
18,063,331 (PC – 90,316,655) New Shares and 18,063,331 (PC – 90,316,655) Warrants subscribed for directly with the Company for gross proceeds of C$3.3m (approximately A$3.6m), which include 16,666,666 (PC – 83,333,330) New Shares and 16,666,666 (PC – 83,333,330) Warrants subscribed for by Mr. Eric Sprott, through 2176423 Ontario Ltd. a corporation which is beneficially owned by him, for gross proceeds of C$3.0m (approximately A$3.3m) (the “Sprott Subscription“); and
(ii) subscriptions by related parties of the Company (consisting of directors of the Company and companies controlled by directors of the Company) for 464,741 (PC – 2,323,707) New Securities (comprised of 208,331 (PC – 1,041,655) New Shares and 256,410 (PC – 1,282,052) New CDIs) and 464,741 (PC- 2,323,707) Warrants for gross proceeds of C$83,000 (approximately A$91,200) (“Related Party Subscription“), which are subject to approval by the Company’s shareholders as required by ASX Listing Rule 10.11.1 and 10.11.4.
Since certain directors and management of the Company are expected to participate in the Related Party Subscription, the Conditional Placement is expected 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 intends to rely 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 Conditional Placement by such directors and management is not expected to exceed 25% of the fair market value of the Company’s market capitalization, as calculated in accordance with MI 61-101.
Updated Details of the Share Purchase Plan
Details of the SPP were announced on March 6, 2025. The SPP will be reduced to up to A$1.5m (approximately C$1.4m) (the “SPP Subscription“), subject to receiving regulatory approval from the TSXV for the units that comprise the SPP under the Equity Raising. The SPP will include 7,692,307 (PC – 38,461,535) New CDIs and 7,692,307 (PC – 38,461,535) Warrants exercisable any time prior to the date that is 18 months from the date of issue of the Warrants, with an exercise price of C$0.225 (PC – C$0.045) per New Security. Orion has agreed to fill any shortfall under the SPP (at the Equity Raising Price) up to a maximum of A$1.5 million. The New CDIs and Warrants issued under the SPP will also be subject to shareholder approval at the ASGM under ASX Listing Rule 7.1. The record date for the SPP remains the same as disclosed on March 6, 2025, and the rest of the indicative timetable has changed as set out below.
The Company retains the right to accept applications for the SPP (in whole or part) at its absolute discretion (subject to applicable law including compliance with the ASX Listing Rules). The Company may also cancel the SPP if the Company’s Board of Directors determines it is in the best interest of the Company, after considering the final amount of units approved by the TSXV for the Equity Raising.
European Bank for Reconstruction and Development
With the Sprott Subscription, the Company has now successfully secured additional funding that will satisfy the EBRD condition that the Company raise at least C$8 million (A$8.8m), assuming the Company receives shareholder approval at the ASGM. EBRD has increased its subscription to C$3,852,000 (approximately A$4.2m) given the upsizing of the Equity Raising. Prior to the completion of the EBRD Subscription, EBRD owns 3,560,000 common shares, representing an ownership interest of 4.42% of the issued and outstanding common shares. On completion of the EBRD Subscription, EBRD’s ownership interest will be, in aggregate (including the common shares it currently owns) 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 Equity Raising, (ii) all Warrants issued under the SPP Subscription, 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 TSXV, unless approval from the TSXV and disinterested shareholders of the Company have been obtained pursuant to the policies of the TSXV (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.
Broker Fees and Additional Warrants
Canaccord Genuity (Australia) Limited (“Canaccord Genuity“) and Foster Stockbroking Pty Ltd (“FSB“) are acting as Joint Lead Managers and Bookrunners for the Equity Raising (together the “Joint Lead Managers“). Aggregate fees payable in cash by the Company to Canaccord Genuity and FSB in connection with the Placement and the SPP will be 6% of the aggregate gross proceeds from the Placement and SPP to a cap of C$8 million (A8.8m).
Additionally, Canaccord Genuity and FSB will be issued 4,904,478 (PC – 24,522,396) broker warrants (“Broker Warrants“), representing 12% of the aggregate number of New Securities issued under the Placement and the SPP, excluding those issued pursuant to the EBRD Subscription, exercisable any time prior to the date that is 24 months from the date of issue of the Broker Warrants, with an exercise price of C$0.225 (PC – C$0.045) per New Security. As the number of Broker Warrants, together with the New Securities and Warrants to be issued under the Placement, exceeds the maximum number of securities that can be issued by the Company under ASX Listing Rule 7.1, this issuance will also be subject to approval by the Company’s shareholders at the ASGM.
Additionally, as announced previously on December 3, 2024, the Company agreed, subject to receipt of TSX-V approval, to issue to Orion 22,263,733 (PC – 111,318,665) warrants to purchase Shares (the “Additional Warrants“), exercisable any time prior to the date that is 18 months from the closing of the Placement, with an exercise price of C$0.225 (PC – C$0.045) per New Security. As the number of the Additional Warrants exceeds the maximum number of securities that can be issued by the Company under ASX Listing Rule 7.1, this issuance will also be subject to approval by the Company’s shareholders at the ASGM.
The securities to be issued or made issuable under the Equity Raising, as well as the Additional Warrants, have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to U.S. Persons absent registration or an applicable exemption from registration. This press release is not an offer or a solicitation of an offer of securities for sale in the United States, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Applicable Hold Periods
New Shares issued or made issuable will not be permitted to be traded in or into Canada or through TSXV for 4 months and 1 day following completion and will be subject to legending requirements under Canadian securities laws. New Shares will be listed on the TSXV, and New CDIs listed on the ASX. Warrants will not be listed. New CDIs will not be permitted to be exchanged for common shares and traded on TSXV for 4 months and 1 day from their date of issue.
Common shares issued upon exercise of the Warrants, Broker Warrants or Additional Warrants during the four-month period and 1 day after their respective date of issue are subject to the same restrictions noted above.
The Warrants, Broker Warrants or Additional Warrants may not be traded in or into Canada for 4 months and 1 day following completion and will be subject to legending requirements under Canadian securities laws.
Updated Indicative Equity Raising Timetable
The following indicative timetable assumes A$1.5m SPP and is subject to the Company receiving TSXV approval for the amount of units that form part of the SPP under the Equity Raising.
Vancouver
Australia
SPP Record Date
n/a
Wednesday, March 5, 2025
Share Purchase Plan Opens
n/a
Wednesday, April 16, 2025
Share Purchase Plan Closes
n/a
Wednesday, April 30, 2025
Meeting to approve the Equity Raising and related matters
Thursday, May 15, 2025
Friday, May 16, 2025
Settlement of New Securities Issued under the Equity Raising
Wednesday, May 21, 2025
Thursday, May 22, 2025
Allotment of New Securities issued under the Equity Raising
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 exploring 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 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.
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, statements regarding the terms of the Placement, including completion thereof, the anticipated closing dates of the Placement, receipt of necessary regulatory approvals, the holding of the shareholder meeting, the use of proceeds of the Placement and the SPP, the issuance of the Additional Warrants, the terms of the SPP, including completion thereof, and any participation by Orion, statements regarding the Consolidation, including completion thereof.
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; 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
– Hong Kong tech companies looking to supply Europe markets with innovative solutions and – inspirational exchanges in terms of tech and talent
Hong Kong Science and Technology Parks Corporation (HKSTP) joined the Hong Kong Trade Development Council(HKTDC) in highlighting achievements of 24 tech companies and corporations at the Mobile World Congress (MWC) in Barcelona, marking it the largest delegation to date joining the world’s biggest mobile industry event.
The Hong Kong Tech Pavilion continues its journey overseas from recent appearance at Consumer Electronics Show (CES) in Las Vegas and engages the premises of Europe, covering the latest solutions in key sectors including Advanced Electronics & Robotics; AI & Data; and Digital Transformation. Ranging from AI-integrated products to automation services, these technological excellence brewed optimism in extending to new frontiers, and gain traction from industry leaders, potential partners, and inspired investors. (Please refer to Appendix 1 for the full list of participants.)
A partnership agreement signed between HKSTP and 22@Network Barcelona, and a Memorandum of Understanding signed between HKTDC and Barcelona City Council, both witnessed by Prof Sun Dong, Secretary for Innovation, Technology and Industry Bureau (ITIB) of HKSAR Government, will be urging conversations in promoting collective efforts between the cities for a sustainable I&T future.
Albert Wong, CEO of HKSTP, commented: “The world’s premier mobile event makes an unrivalledopportunity to forge impactful connections – an important stage for each local tech company to play a role in the European and global markets and accelerate the adoption of transformative solutions. We look forward with excitement to witnessing new opportunities for innovation on both sides emerge at this year’s conference.”
Iris Wong, Director of Merchandise Trade and Innovation & External Relations of HKTDC added: “The HKTDC is committed to showcasing Hong Kong’s dynamic technological prowess on the global stage. We are proud to present 24 outstanding Hong Kong start-ups and tech ventures at the Mobile World Congress, an important global arena showcasing the latest mobile communications advances. Moreover, we are happy to renew our partnership with Barcelona City Council and continuously strengthen cooperation in promoting trade and investment between the two cities. The HKTDC also continues to work closely with the city council to help Hong Kong tech start-ups gain exposure in the Spanish market”
As one of the top emerging startup ecosystems, Hong Kong ranks third global after Madrid and Barcelona, and companies from the EU make up the largest foreign business community in Hong Kong, totalling 1,640 according to government data in 2024, and Technology is highly active contributing to this figure, suggesting spotlight in I&T collaborations between the regions is encouraged. Sharing the notion, HKSTP will be joining Hong Kong Economic and Trade Office, London (London ETO), Invest Hong Kong (InvestHK), and the Office for Attracting Strategic Enterprises (OASES) to co-organise a seminar in London, following further on the traction for potential investors, partners, and high-calibre talents to thrive in Hong Kong.
Photo 1: Hong Kong Tech Pavilion saw the presence of (from left) Paula Kant, Head of Investment Promotion of InvestHK; Chris Lo, Regional Director, Europe, Central Asia & Israel of HKTDC; Albert Wong, CEO of HKSTP; Susana Prado, President of 22@Network Barcelona; Shirley Yung, Special Represenattive for HK Economic & Trade Affairs to the European Union, Brussels ETO; Prof. Sun Dong, Secretary for Innovation, Technology and Industry of HKSAR Government; Jordi Valls Riera, Deputy Mayor of Barcelona City Council; Iris Wong, Director of Merchandise Trade and Innovation & External Relations of HKTDC; Rocky Cheng, CEO of Cyberport; and Whitney Chan, Senior Systems Manager of Digital Policy Office of HKSAR Government.
Photo 2: MoU signed between the HKTDC and Barcelona City Council was represented by Iris Wong, Director of Merchandise Trade and Innovation & External Relations of HKTDC (left) and Jordi Valls Riera, Deputy Mayor of Barcelona City Council (right), and witnessed by Prof. Sun Dong, Secretary for Innovation, Technology and Industry of HKSAR Government (middle).
Photo 3: A Partnership agreement signed by Albert Wong, CEO of HKSTP (left in front) and Susana Prado, President of 22@Network Barcelona (right in front) was witnessed by Prof. Sun Dong, Secretary for Innovation, Technology and Industry of HKSAR Government (left in the back) and Jordi Valls Riera, Deputy Mayor of Barcelona City Council (right in the back) in forming an alliance to foster growth of both the I&T communities.
Photo 4-5: Derek Chim, Head of Startups Ecosystem and Development of HKSTP (first on the left of Photo 4) joined in sharing Hong Kong’s I&T ecosystem at the 4YFN25, an occasion that connects international innovators, and celebrates achievement and aim to “Create Better.”
Photo 6: 24 Hong Kong tech companies and corporations at Mobile World Congress 2025 Barcelona, Spain.
Photo 7-10: Showcases of Hong Kong tech companies engaging the local audience.
Note: – Non-HKSTP park companies marked with (*).
About Hong Kong Science and Technology Parks Corporation Hong Kong Science and Technology Parks Corporation (HKSTP) was established in 2001 as a thriving I&T ecosystem grooming 14 unicorns, more than 15,000 research professionals and over 2,200 technology companies from 26 countries and regions focused on developing healthtech, AI and robotics, fintech and smart city technologies, etc.
The growing ecosystem serves at an international I&T hub in Asia, offers comprehensive support including R&D infrastructure, investment expertise, partnership networks, talent traction and more, in accelerating ideation, and commercialising innovation for technology ventures, all with the I&T journey built around key locations across Hong Kong and branched towards the GBA and further to continuously contribute to the development of I&T making a pillar of growth for Hong Kong.
More information about HKSTP is available at www.hkstp.org.
About Hong Kong Trade Development Council The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With over 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels.
For more information, please visit: www.hktdc.com/aboutus. Follow us on @hktdc and LinkedIn
Media Contact:Hong Kong Science and Technology Parks Corporation Sam Yan Tel: +852 2629 6743 Email: sam.yan@hkstp.org
New investments will drive expansion of Graid Technology’s industry-leading data protection solutions across OEM and Enterprise markets.
Graid Technology, a leading innovator in GPU-based RAID for NVMe storage performance, today announced the successful closing of its $30 million Series B funding round. The round was led by HH-CTBC Partnership, a joint venture fund between Foxconn and CTBC, alongside Yuanta Ventures. The funding also includes participation from Delta Electronics Capital, Harbinger Venture Capital, and returning investors from Graid Technology’s 2022 Series A round.
Graid Technology Secures $30M Series B to Accelerate Growth in Data Storage & Protection Market
New investments will drive expansion of Graid Technology’s industry-leading data protection solutions across OEM and Enterprise markets.
This investment will drive global expansion, product innovation, and strategic partnerships, strengthening Graid Technology’s presence in enterprise and OEM markets while meeting growing demand for AI, machine learning (ML), and high-performance computing (HPC) workloads.
Graid Technology’s SupremeRAID™ product line eliminates traditional RAID bottlenecks by offloading RAID operations to the GPU, maximizing NVMe SSD performance and scalability. With thousands of deployments worldwide, SupremeRAID™ is enabling data centers, AI research facilities, media production, and financial institutions to optimize storage infrastructure while ensuring data integrity, redundancy, and resilience.
“This funding marks a significant milestone, not only in expanding our market reach but also in driving new innovations,” said Leander Yu, Founder and CEO of Graid Technology. “The backing of HH-CTBC Partnership, Yuanta Ventures, and other strategic investors reflects confidence in our vision. With their support, we are well-positioned to scale our technology and expand into new markets.”
About Graid Technology Graid Technology is transforming enterprise storage with SupremeRAID™, the world’s first GPU-based RAID solution. By offloading RAID calculations to the GPU, SupremeRAID™ enables enterprises to maximize NVMe SSD performance, delivering unprecedented speed, efficiency, and scalability for AI, ML, media, and high-performance computing workloads. Headquartered in Silicon Valley, California, with an R&D center in Taipei, Taiwan, Graid Technology partners with leading OEMs and global technology providers to redefine NVMe storage performance.
