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VANCOUVER, British Columbia, March 10, 2024 (GLOBE NEWSWIRE) — Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF; Frankfurt: E06) (the “Company”) announced today that The project (“Chvaletice” or “Project”) is officially listed1 Due to the ongoing review of debt financing with the European Investment Bank (“EIB”). The funding from EIB complements a broader financing package to support the development of our high-purity battery-grade manganese plant in the Czech Republic.
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Euromanganese’s Švaretice project has progressed to the formal evaluation stage for debt financing by the EIB, an important milestone in securing financing for a high-purity manganese production plant in the Czech Republic
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Chvaletice is the only large-scale manganese reserve in the European Union (“EU”), positioning Euromanganese as a leading supplier of local, recycled, ESG-compliant, high-purity manganese for the European EV market.
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Recognized by the EU as a strategic and important source of raw materials, the Švaretice project aims to increase the EU’s resilience in battery materials while delivering environmental benefits through the remediation of historic tailings. is.
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The debt financing from the EIB supports the objectives of the Intergovernmental Mineral Security Partnership (“MSP”), which includes 13 countries and the European Union, and which has endorsed the Švaretice project as a key initiative.
Dr. Matthew James, President and CEO of Euromangan, said: comment:
“The advancement of our Švaretice manganese project to the formal under-assessment level demonstrates the EIB’s commitment to supporting sustainable opportunities in the battery supply chain. Švaretice is the only project in the European Union With proven and high potential manganese reserves, through this project Euromangan is uniquely positioned to supply the European electric vehicle market with safe, traceable and responsibly produced high purity manganese products. With the European Bank for Reconstruction and Development (“EBRD”) already a major shareholder, today’s announcement marks another important step towards achieving project financing. We look forward to the EIB’s continued support for this strategic project. ”
The EIB said: “The European Commission has identified both battery-grade manganese and manganese as ‘strategic raw materials’ and ‘critical raw materials’, which are important for green and digital transitions as well as for strategic technologies and sectors. The Švaretice manganese project is an important source of high-purity manganese based on a circular economy, supplying the battery value chain with a critical raw material that is largely imported. This will strengthen the EU’s resilience. Historic tailings area, especially in terms of soil quality and freshwater quality. ”
In October 2023, the Chvaletice project was designated as a supported project under the intergovernmental MSP, which is comprised of 13 countries and the European Union, representing more than 50% of global GDP. MSP aims to foster public and private sector investment and create a diverse, safe and responsible critical minerals supply chain around the world.
About euromanganese
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 developing the Chvaletice manganese project in the Czech Republic and is pursuing the opportunity to produce battery-grade manganese products in Bécancourt, Quebec.
The Chvaletice project is a unique opportunity to recycle and remediate waste into something of value, including the reprocessing of old tailings from decommissioned mines. It is also the only significant source of manganese in the European Union, and is strategically positioned to provide battery supply chains with a critical raw material that supports the global transition to a circular, low-carbon economy.
Euromanganese is dual listed on the TSX.V and ASX and also traded on the OTCQX.
Release authorized by the CEO of Euro Manganese Ltd.
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.
inquiry
Dr. Matthew James
President and CEO
+44 (0)747 229 6688
Roadlock Advisors
neil webber
Investor and Media Relations – North America
+1 (647) 222-0574
neil.weber@loderockadvisors.com
jane morgan management team
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
Website: www.mn25.ca
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 are subject to known and unknown risks, uncertainties, and the actual results, performance, and achievements of the Company, its Chvaletice projects, or the performance of the industry, and may differ from any expressed future results, performance, or achievements. and other factors that can cause it to differ significantly. or implied by such forward-looking statements or information. Such statements include words such as “may”, “will”, “could”, “will”, “intend”, “expect”, “believe”, “plan” and “anticipate”. , can be identified by the use of words such as “estimate”. “,” “intended,” “anticipated,” “predicted,” and other similar terms, or whether a particular action, event, or result “may” or “likely” occur. to state or be accomplished.
Such forward-looking information or statements include statements regarding the Company’s intentions regarding the development and advancement of the Švaretice Project in the Czech Republic, and the Company’s ability to secure financing from the EIB or other broader funding packages; , but not limited to. funding for the project, continued support from the EIB, continued support from MSP and its partners, the expected environmental benefits from the project, and the project being a significant circular economy-based source of high-purity manganese. There are raw materials that supply key elements to the battery value chain.
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 could cause our actual results to differ materially from those discussed in the forward-looking statements. Furthermore, even if such actual results are realized or substantially realized, there can be no assurance that they will have the anticipated results or effects on us.
All forward-looking statements are made based on our current beliefs, including various assumptions made by us. that the political and community environments in which we operate continue to support the development and operation of our projects; and assumptions related to the factors described herein. Factors that could cause actual results or events to differ materially from current expectations include, among other things, risks and uncertainties related to the availability of acceptable financing; the ability to meet secure financing conditions and security-related risks; our ability to obtain, amend or maintain any necessary licenses or permits; risks related to acquisition of surface rights; changes in laws or regulations; Regulation by various government agencies. For more information on the risks associated with the Company, please see “Risk Factors” in the Company’s Annual Information Form for the Year Ended September 30, 2023, available on the Company’s SEDAR Profile at www.sedarplus.ca .
Although the forward-looking statements contained in this news release are based on what management of the Company believes to be reasonable, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. You can’t. 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. Consistent with applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
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1 https://www.eib.org/en/projects/pipelines/all/20220372
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