VANCOUVER, British Columbia, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF) (the "Company" or "EMN") today filed its third quarter financial statements and management’s discussion and analysis (“MD&A”) and is pleased to provide the following financial and operating highlights for the quarter:
- On May 10, 2021, the Company completed the second tranche of a two-tranche brokered private placement of 50 million CHESS Depository Interests (“CDIs”), with each CDI representing one common share, at a price of AUD0.60 for aggregate gross proceeds of AUD30.0 million ($28.6 million) and net proceeds of AUD28.5 million ($27.2 million). Accordingly, the Company ended the quarter with $33.8 million in cash and $27.8 million in working capital.
- On May 31, 2021, the Company entered into royalty termination agreements to purchase and extinguish an aggregate 1.2% net smelter royalty interest in the Manganese Chvaletice Project (the “Project”) for aggregate consideration of USD4.5 million (approximately $5.5 million) payable in two instalments: 20% in cash, amounting to USD0.9 million ($1.1 million) which was paid May 31, 2021; and 80%, amounting to USD3.6 million (approximately $4.5 million), on or before January 31, 2022, by a combination of cash and up to 50% in common shares, at the sole option of the Company, based on a price per share equal to the 20-day volume weighted average price on the TSX-V prior to the date of issuance.
- On June 14,...
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