VANCOUVER, British Columbia, Jan. 06, 2022 (GLOBE NEWSWIRE) -- Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF; Frankfurt: E06) (the "Company" or "EMN") is pleased to announce that pursuant to the Project Support Agreement entered into by the Company and EIT InnoEnergy, as announced on February 22, 2021, and to the receipt of two investment tranches aggregating 187,500 (CAD$278,012), the Company has issued 478,027 common shares ("Shares") to EIT InnoEnergy.
The first EIT InnoEnergy investment tranche of 62,500 (CAD$92,850) was advanced to the Company on March 24, 2021, for which the Company agreed to issue 147,380 Shares at the price of CAD$0.63 per Share (refer to EMN news release dated March 30, 2021). The second investment tranche of 125,000 (CAD$185,162) was advanced to the Company on July 26, 2021, for which the Company agreed to issue 330,647 Shares at the price of CAD$0.56 per Share (refer to EMN news release dated July 27, 2021). The issue prices of the Shares issued pursuant to each investment tranche were determined using the 10-day volume weighted average stock price on the TSX Venture Exchange ("TSXV") prior to receipt of such investment tranche. The share issuances were approved by the TSXV effective April 7, 2021 and August 9, 2021.
EIT InnoEnergy is supported by the European Institute of Innovation and Technology (EIT), which is a body of the European Union. It leads the industrial stream of the European Battery Alliance, an initiative launched by The...
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