ASX-listed Euro Manganese climbs on investment deal for manganese project
03/01/2022 23:56
** Shares of battery materials co Euro Manganese Inc
EMN.AX climb as much as 9.1% to A$0.540, hitting their highest
since Dec. 2, 2021
** EMN announces https://www.asx.com.au/asxpdf/20220104/pdf/454qb51rr5vyyx.pdf
strategic investment agreement of C$8.5 mln ($6.67 mln) with
the European Bank for Reconstruction and Development (EBRD) for
development of co' Chvaletice Manganese project in Czech
Republic urn:newsml:reuters.com:*:nFWN2TJ0UV
** Co says investment will be affected by a private
placement of its 17.8 mln common shares to be issued to EBRD at
C$0.4775 per share
** Adds EBRD will be granted rights that allow participation
in "future financings" to maintain its pro rata equity interest
in co
** EBRD investment is an affirmation that co's project is an
important part of establishing a strong, sustainable European
electric vehicle battery supply chain to support Europe's
accelerating transition to e-mobility - EMN
** Stock had risen about 25.3% in 2021
($1 = 1.2748 Canadian dollars)
(Reporting by Upasana Singh in Bengaluru)
((Upasana.Singh@thomsonreuters.com))