Euro Manganese Announces the Next Tranche of EIT InnoEnergy’s Investment

Highlights:

• The Corporation has received a second tranche of financial commitment from EIT InnoEnergy of €125,000, bringing the EU-backed body’s financial investment to date to €187,500.

• The combination financial investment from EIT InnoEnergy is supposed to be €250,000 and will aid accelerate the Chvaletice Manganese Project’s effective integration into Europe’s electric car or truck (EV) battery worth chain.

VANCOUVER, British Columbia, July 27, 2021 (Globe NEWSWIRE) — Euro Manganese Inc. (TSX-V and ASX: EMN OTCQX: EUMNF) (the “Enterprise” or “EMN“) is delighted to announce the receipt of a second financial commitment tranche from EIT InnoEnergy amounting to €125,000 (CAD$185,162).

Pursuant to the phrases of a Challenge Help Arrangement entered into by the Corporation and EIT InnoEnergy (the “Agreement“), declared on February 22, 2021, the Firm is to get a a few-tranche expense obtaining an mixture benefit of €250,000. The money are becoming used to support ongoing function on the Chvaletice Manganese Project’s (the “Job”) definitive feasibility research and on the Chvaletice demonstration plant, which is supposed to deliver significant-scale samples of superior-purity manganese for source chain qualification by potential customers, which includes European electrical automobile makers and battery makers.

EIT InnoEnergy is a Know-how and Innovation Community supported by the European Institute of Innovation and Technological innovation. It qualified prospects the industrial stream of the European Battery Alliance, an initiative introduced by The European Fee in Oct 2017 with the objective to create a solid and competitive battery market in Europe. The assistance of EIT InnoEnergy, which also contains guidance in securing financing and offtake agreements, is supposed to enable accelerate the Project’s productive integration into Europe’s electric car (EV) battery value chain.

The 1st EIT InnoEnergy financial investment tranche of €62,500 (CAD$92,850) was innovative to the Business on March 24, 2021, for which the Business will concern 147,380 widespread shares (“Shares“) at the value of CAD$.63 for each Share (refer to EMN information launch dated March 30, 2021). The second financial commitment tranche of €125,000 (CAD$185,162) was advanced to the Organization on July 26, 2021. Accordingly, the Enterprise will challenge an more 330,647 Shares to EIT InnoEnergy at the cost of CAD$.56 for each Share becoming the 10-working day quantity weighted common stock value on the TSX Venture Trade (“TSXV“) prior to receipt of the next investment tranche. This provides EIT InnoEnergy’s complete investment decision to date to €187,500 (CAD$278,012). The issuance of the 478,027 Shares is not predicted to manifest until early January 2022 and continues to be issue to the acceptance of the TSXV. In accordance with Canadian securities guidelines and procedures of the TSXV, Shares issued to EIT pursuant to the Agreement will be topic to a 4 thirty day period and one working day statutory keep from their day of issuance.

Story carries on

For a lot more facts about EIT InnoEnergy’s guidance of the Chvaletice Manganese Challenge, see EMN’s information release dated February 22, 2021.

About Euro Manganese Inc.

Euro Manganese Inc. is a battery supplies enterprise whose principal focus is advancing the improvement of the Chvaletice Manganese Venture, in which it retains a 100% fascination. The proposed Job entails re-processing a considerable manganese deposit hosted in mine tailings from a decommissioned mine, strategically positioned in the Czech Republic. The Company’s objective is to develop into a leading, aggressive and environmentally excellent primary producer of ultra-superior-purity Manganese Solutions in the coronary heart of Europe, serving the lithium-ion battery marketplace, as perfectly as other large-technologies purposes.

Approved for launch by the CEO of Euro Manganese Inc.

Neither TSX Venture Exchange nor its Regulation Products and services Company (as that time period is described in the insurance policies of the TSX Venture Trade), or the ASX accepts accountability for the adequacy or precision of this release.

Ahead Hunting Statements

Certain statements in this news launch represent “forward-seeking statements” or “forward-searching information” within the that means of applicable securities guidelines. Such statements and information and facts contain acknowledged and not known hazards, uncertainties and other components that may perhaps cause the actual benefits, performance or achievements of the Firm or the Project to be materially diverse from any long run benefits, functionality or achievements expressed or implied by these kinds of forward-on the lookout statements or details. These statements can be determined by the use of phrases this sort of as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other identical terminology, or state that specific steps, events or success “may”, “could”, “would”, “might” or “will” be taken, come about or be realized.

This kind of ahead-searching information or statements relate to long term events or long run functionality about the Business and its organization and operations, which involve, among other factors, the use of proceeds of the cash highly developed by EIT, receipt of more funding from EIT, TSXV acceptance for the issuance of Shares to EIT, the completion and timing of the definitive feasibility review, the timing of the supply and operation of the demonstration plant, and other statements with regard to the ongoing growth of the Chvaletice Manganese Task.

Visitors are cautioned not to spot undue reliance on ahead-hunting facts or statements. Forward-seeking statements and information include considerable challenges and uncertainties, really should not be examine as ensures of future effectiveness or results and will not essentially be precise indicators of irrespective of whether or not this kind of results will be achieved. A variety of aspects could trigger actual success to vary materially from the success mentioned in the forward-searching statements or facts, like, but not restricted to, the things mentioned underneath “Risks Notice” and somewhere else in the Company’s MD&A for the 12 months finished September 30, 2020 and its most current Annual Information and facts Kind.

The forward-hunting statements contained in this information release are produced as of the day hereof and are expressly qualified in their entirety by this cautionary statement. Matter to applicable securities legal guidelines, the Organization does not believe any obligation to update or revise the ahead-searching statements contained herein to mirror gatherings or situation happening right after the date of this information release.