Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF; Frankfurt:
E06) ("
Euro Manganese", the
"
Company" or "
EMN") is pleased to
announce it has appointed Stifel Nicolaus Europe Limited, a wholly
owned subsidiary of Stifel Financial Corp. (NYSE:SF)
("
Stifel") as financial advisor to assist with the
structuring and securing of project financing for the development
of the Company’s flagship Chvaletice Manganese Project
("
CMP" or "
Project"), located in
the Czech Republic.
The appointment of Stifel, a leading financial
advisory group in the battery metals space, allows the Company to
initiate dialogue with a number of potential financiers and allows
due diligence to commence. Euro Manganese will work with Stifel to
determine the optimal financing structure for the CMP.
Stifel is a global, full-service investment bank
with significant expertise in the metals and mining sector. The
firm provides a suite of institutional services including strategic
business advisory across both debt and equity markets.
Stifel’s Capital Solutions Group provides project finance advisory
services globally with proven expertise in advising on the debt
financing of development projects within the energy transition
supply chain.
The key major milestones to help secure project
financing include:
- Completion of
the Feasibility Study for the Chvaletice Manganese Project
(expected in the coming weeks).
- Execution of
binding offtake agreements.
- Finalizing land
access agreements.
- Approval of the
Environmental and Social Impact Assessment
("ESIA") and final permitting. The ESIA is
expected to be submitted to the Czech Ministry of the Environment
in Q3 2022.
Matthew James, Euro Manganese’s
President and CEO, commented:
“Stifel is a well-regarded capital solutions
advisory firm with a successful track record of debt and equity
raises. Euro Manganese stands to benefit from their significant
experience in project financing and relationships with strategic
partners in the European EV battery market. This appointment is an
important step for the Company as we seek to execute project
milestones and move towards a final investment decision, expected
in 2023. We look forward to working with the Stifel team to execute
a successful financing package for the Chvaletice Manganese
Project.”
Jan-Erik Back, Stifel’s Head of
Capital Solutions Group commented:
“Euro Manganese is uniquely positioned to
capitalize on the growth in the European electric vehicle market.
Having the only sizable manganese resource in Europe combined with
the development of a processing plant to produce high-purity
manganese products, they will have a fully-traceable and
sought-after product for the EV industry. Moreover, as the
Chvaletice project involves reprocessing and rehabilitating
historic mine tailings, the environmental credentials of the
project should be very compelling for financiers. Stifel is proud
to partner with Euro Manganese to help advance this critical
battery materials project.”
About Euro Manganese Inc.
Euro Manganese Inc. is a battery materials
company focused on becoming a leading, competitive, and
environmentally superior producer of high-purity manganese for the
electric vehicle (EV) industry and other high-technology
applications. The Company is advancing development of the
Chvaletice Manganese Project in the Czech Republic, which is a
unique waste-to-value recycling and remediation opportunity
involving reprocessing old tailings from a decommissioned mine. The
Chvaletice Project is 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.
About Stifel
Stifel Financial Corp. (NYSE: SF) is a financial
services holding company headquartered in St. Louis, Missouri, that
conducts its banking, securities, and financial services business
through several wholly owned subsidiaries. Stifel’s broker-dealer
clients are served in the United States through Stifel, Nicolaus
& Company, Incorporated, including its Eaton Partners business
division; Keefe, Bruyette & Woods, Inc.; Miller Buckfire &
Co., LLC and Stifel Independent Advisors, LLC. The Company’s
broker-dealer affiliates provide securities brokerage, investment
banking, trading, investment advisory, and related financial
services to individual investors, professional money managers,
businesses, and municipalities. Stifel Bank and Stifel Bank &
Trust offer a full range of consumer and commercial lending
solutions. Stifel Trust Company, N.A. and Stifel Trust Company
Delaware, N.A. offer trust and related services. To learn more
about Stifel, please visit the Company’s website at www.stifel.com.
For global disclosures, please visit
https://www.stifel.com/investor-relations/press-releases.
Authorized for release by the 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.
Inquiries
Dr. Matthew JamesPresident
& CEO+44 (0)747 229 6688
Louise BurgessSenior Director
Investor Relations & Communications+1 (604)
312-7546lburgess@mn25.ca
Company Address: #709 -700 West Pender St.,
Vancouver, British Columbia, Canada, V6C
1G8Website: 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 involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of the Company, its projects, 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. Such forward-looking information or statements relate to
future events or future performance about the Company and its
business and operations, which include, without limitation: the
Company’s ability to secure the remaining land surface rights; the
completion and timing of the definitive feasibility study; the
timing, the Company’s ability to negotiate offtake agreements with
potential customers; and the Company’s ability to arrange financing
for the full-scale, commercial development of the Project. Further,
it should be noted that no production decision has been made with
respect to the Project and that such a decision will only be made
based on completion of a positive feasibility study, permitting and
financing having been secured.
Readers are cautioned not to place undue
reliance on forward-looking information or statements.
Forward-looking statements and information involve significant
risks and uncertainties, should not be read as guarantees of future
performance or results and will not necessarily be accurate
indicators of whether or not such results will be achieved. A
number of factors could cause actual results to differ materially
from the results discussed in the forward-looking statements or
information, including, but not limited to, the factors discussed
under “Risks Notice” and elsewhere in the Company’s MD&A, as
well as the inability to obtain regulatory approvals in a timely
manner; the potential for unknown or unexpected events to cause
contractual conditions to not be satisfied; unexpected changes in
laws, rules or regulations, or their enforcement by applicable
authorities; the failure of parties to contracts with the Company
to perform as agreed; social or labour unrest; changes in commodity
prices; and the failure of exploration programs or studies to
deliver anticipated results or results that would justify and
support continued exploration, studies, development or
operations.
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. The Company’s actual results could
differ materially from those anticipated in these forward-looking
statements as a result of the factors set forth in the “Risks
Notice” section and elsewhere in the Company’s MD&A for the
year ended September 30, 2021 and its Annual Information Form.
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