Euro Manganese Completes Buy Back of 1.2% NSR in Chvaletice Manganese Project

Rhea-AI Summary

Euro Manganese Inc. (EUMNF) announced the issuance of 4,820,109 common shares and a payment of US$1,800,000 to eliminate a 1.2% net smelter royalty in the Chvaletice Manganese Project. The share issuance was valued at US$2,278,080, calculated based on the share price of $0.47262. This transaction aligns with Euro Manganese's goal of advancing the project and enhancing its position as a producer of high-purity manganese products. Shares issued are subject to a hold period until June 1, 2022.

Positive

• Acquisition eliminates a 1.2% net smelter royalty, potentially increasing future profitability.
• Total transaction value of US$2,278,080 enhances resource control over the Chvaletice Manganese Project.

Negative

• None.

VANCOUVER, British Columbia, Jan. 31, 2022 (GLOBE NEWSWIRE) -- Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF; Frankfurt: E06) (the “Company” or “EMN”) is pleased to announce that it has issued 4,820,109 common shares ("Shares") and paid US$1,800,000 to purchase and extinguish the aggregate 1.2% net smelter royalty ("NSR") interest in the Chvaletice Manganese Project.

Further to its announcement of January 24, 2022, the Company issued 4,820,109 Shares at a price of $0.47262 per Share (the "Share Consideration") valued at $2,278,080 (US$1,800,000 based on the Bank of Canada’s USD / CAD exchange rate on January 24, 2022) and paid US$1,800,000 to settle the balance owing under the royalty termination agreements dated May 31, 2021.

In accordance with Canadian securities laws and the policies of the TSX Venture Exchange, the Shares issued as the Share Consideration are subject to a four month and one day statutory hold period expiring on June 1, 2022.

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.

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.

Contact:
Euro Manganese Inc.
Dr. Matthew James	Fausto Taddei
President & CEO	Vice President, Corporate Development
+44 747 229 66 88	& Corporate Secretary
	+ 1-604-681-1010 ext. 105
Media inquiries:
Ron Shewchuk
Director of Communications
+1-604-781-2199
E-mail: info@mn25.ca
Website: www.mn25.ca

Company Address: #709 -700 West Pender St., Vancouver, British Columbia, Canada, V6C 1G8

FAQ

What did Euro Manganese Inc. announce on January 31, 2022?

Euro Manganese Inc. announced the issuance of 4,820,109 common shares and a payment of US$1,800,000 to extinguish a 1.2% net smelter royalty on its Chvaletice Manganese Project.

How much did Euro Manganese pay to eliminate the net smelter royalty?

Euro Manganese paid US$1,800,000 to eliminate the 1.2% net smelter royalty.

What is the impact of the acquisition on Euro Manganese's Chvaletice Project?

The acquisition of the net smelter royalty is expected to enhance Euro Manganese's profitability by increasing control over the Chvaletice Manganese Project.

When will the shares issued by Euro Manganese be tradable?

The shares issued will be subject to a four month and one day hold period, expiring on June 1, 2022.