Euro Manganese Inc. (OTCMKTS:EUMNF) (TSX:VEMN) Stock Completes Strategic Investment: Stock Flat

Euro Manganese Inc. (OTCMKTS:EUMNF) (TSX:VEMN) is down 16% in a month. The company has closed a strategic equity financing of C$8.5 million by the European Bank for Reconstruction and Development. The financing was effected through a private placement of 17.8 million shares granted to EBRD for C$0.4775 per share.

Market Stats

On Thursday, EUMNF stock ended flat at $0.3379 with more than 8.5K shares, compared to its average volume of 7.2k shares. The stock moved within a range of $0.3379 – 0.3379 after opening trading at $0.3379.

Euro Manganese Announces Closing of C$8.5 Million Strategic Investment by European Bank for Reconstruction and Development and Will Host First Quarterly Investor Call Feb. 14

 Following the closing of the private placement, EBRD currently holds around 4.4%  of EMN’s shares. The company will get financial flexibility from the proceeds to finance Chvaletie Manganese Project located in the Czech Republic. Most importantly, they will be used in a feasibility study, preparation of the site, and for demonstration plant operating costs, and other works that include permitting and aspects of Final Environmental and Social Impact Assessment.

As part of the placement, the company will issue 0.534 million shares to EIT InnoEnergy at C$0.477 per share for gross proceeds of C$254,985. This represents a finder’s fee of 3% of the placement’s total proceeds. The issued shares will be subject to a four-month plus one-day holding period. So investors should watch EUMNF.  

CEO Matt James to host EMN’s first quarterly investor call February 14 Euro Manganese will host its first quarterly investor call at 1.30 p.m. Pacific Time on Monday, February 14, 2022. CEO Matt James will provide an overview of the Company’s activities, including an operational update on the Chvaletice Manganese Project and upcoming milestones. Mr. James will take questions from investors after the presentation.