The Prospector News

Euro Manganese to Complete Buy Back of 1.2% NSR in Chvaletice Manganese Project

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Euro Manganese to Complete Buy Back of 1.2% NSR in Chvaletice Manganese Project

 

 

 

 

 

Highlights:

  • Euro Manganese to settle the balance of the outstanding amounts due under the Royalty Termination Agreements with payment of US$1.8 million in cash and the issuance of 4,820,109 common shares valued at CAD$2,278,080 (US$1.8 million)

 

Euro Manganese Inc. (TSX-V:EMN) (ASX: EMN) (OTCQX: EUMNF) (Frankfurt: E06) is pleased to announce that, further to its announcement of May 31, 2021, it intends to issue 4,820,109 common shares as partial consideration to purchase and extinguish the aggregate 1.2% net smelter royalty interest in the Chvaletice Manganese Project.

 

Pursuant to the royalty termination agreements dated May 31, 2021, the Company agreed to purchase the NSR interest from three arm’s-length parties for aggregate consideration of US$4.5 million, of which US$900,000 was paid on signing of the Royalty Termination Agreements. The balance is intended to be repaid on or before January 31, 2022, by a combination of US$1,800,000 (approx. $2,278,000) in cash and the issuance of 4,820,109 Shares at a price of CAD$0.47262 per share  valued at $2,278,080 (US$1,800,000 based on the Bank of Canada’s USD / CAD exchange rate on January 24, 2022).

 

The Share Consideration is subject to approval of the TSX Venture Exchange.  In accordance with Canadian securities laws and policies of the TSXV, Shares issued as the Share Consideration will be subject to a four month and one day statutory hold period.

 

About Euro Manganese Inc.

 

Euro Manganese Inc. is a battery materials company whose principal focus is advancing the development of the Chvaletice Manganese Project, in which it holds a 100% interest. The proposed Project entails re-processing a significant manganese deposit hosted in mine tailings from a decommissioned mine, strategically located in the Czech Republic. The Company’s goal is to become a leading, competitive and environmentally superior primary producer of ultra-high-purity Manganese Products in the heart of Europe, serving the lithium-ion battery industry, as well as other high-technology applications.

 

Posted January 25, 2022

Share this news article

MORE or "UNCATEGORIZED"


High-Grade Gold up to 42.3 g/t Confirmed in First Two Drillholes at Bousquet

High-Grade Gold up to 42.3 g/t Confirmed in First Two Drillholes ... READ MORE

July 28, 2025

NexMetals Achieves an Initial 15.2% Head Grade Increase at Selebi North Using Modern Technology Demonstrating High Recoveries and Significant Waste Reduction

NexMetals Mining Corp. (TSX-V: NEXM) (NASDAQ: NEXM) reports initi... READ MORE

July 28, 2025

Midland Announces Closing of $6.1 Million Private Placement with Strategic Investment from Centerra Gold

Midland Exploration Inc. (TSX-V: MD) is pleased to announce the c... READ MORE

July 28, 2025

Antimony Resources Corp. (ATMY) (K8J0) Intersects More Massive Antimony-Bearing Stibnite ("Sb"), Assays up to 14.91% Sb over 3.3 Meters Including a Zone of Massive Antimony-Bearing Stibnite Which Returned 34% Sb over One Meter

Antimony Resources Corp. (CSE: ATMY) (FSE: K8J0) reports that ass... READ MORE

July 28, 2025

Surge Reports Significant Amounts of Critical Minerals Rubidium and Cesium Contained Within its Nevada North Lithium Project

Surge Battery Metals Inc. (TSX-V: NILI) (OTCQX: NILIF) (FSE: DJ5... READ MORE

July 28, 2025

Copyright 2025 The Prospector News