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Eurobattery Minerals AB’s rights issue of units has been registered with the Swedish Companies Registration Office. The last day for trading in paid subscribed units (“BTU”) is 12 August 2020. Euroclear’s record date for conversion from BTU to shares and warrants is 14 August 2020. The new shares and warrants are expected to be distributed to the respective shareholder’s VP account/depot on 18 August 2020. The first day for trading on NGM Nordic SME in the warrants of series 2020:1 (Ticker: BAT TO2) is18 August 2020.
For further information, please contact:
Roberto García Martínez, CEO
Email: roberto@eurobatteryminerals.com
Eurobattery Minerals in brief
Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Finland, Spain and northern Sweden. The company has two mining licenses and eight exploration licenses. The headquarters is located in Stockholm. Augment Partners AB, tel. +46 8 505 651 72, email:info@augment.seis Eurobattery Minerals’ Mentor
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SWITZERLAND, SINGAPORE, SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL, BE SUBJECT TO LEGAL RESTRICTIONS OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES
Eurobattery Minerals AB (NGM Nordic SME: “BAT”; “the Company”) has completed the rights issue of units with subscription period from 29 June to 14 July 2020 (the “Rights issue”). The Rights issue has been oversubscribed and the Company will receive approximately SEK 47.3 million, before issue costs. The subscription price in the Rights issue was SEK 24.00 per unit, where a unit consists of two shares and one warrant. Approximately SEK 37.3 million, corresponding to approximately 78.9 per cent of the Rights issue, was subscribed for and allocated to investors that subscribed with unit rights. Approximately SEK 10.0 million, corresponding to approximately 21.1 per cent of the Rights issue, was subscribed for and allocated without unit rights. The outcome of the Rights issue means that no underwriting commitments will be claimed. The proceeds from the Rights issue has secured funding for continued mining operations in both the Corcel- and Hautalampi-projects and enables the Company to carry out feasibility studies for both projects.
Through the Rights issue the Company will receive approximately SEK 47.3 million of which approximately SEK 0.6 million is paid by setting off a claim against BAT by the Company’s CEO. The number of shares will increase by 3,938,142 from 9,845,357 to 13,783,499 when the new shares are registered with the Swedish Companies Registration Office, while the share capital will increase by SEK 3,938,142 from SEK 9,845,357 to SEK 13,783,499. This corresponds to a dilution of approximately 28.6 per cent. When the registration has taken place, paid subscribed units (BTU) are converted into shares and warrants. A total of 1,969,071 warrants will be registered, which give the holder the right to subscribe for one new share in the Company per exercised warrant during the period 5-16 October 2020. If all warrants are exercised, this corresponds to a dilution of an additional 12.5 per cent.
Allocation of units subscribed for without unit rights has been carried out in accordance with the allocation principle stated in the prospectus, which was made in connection with the Rights issue and was published on 25 June 2020. Notice of allocation of units subscribed without unit rights will be sent to those allotted units today, 17 July 2020. The subscribed and allotted units must be paid for in cash and payment must be received by Aqurat Fondkommission AB no later than the settlement date, 22 July 2020, according to instructions on the settlement note. No message is sent to those that have not been allotted any units.
“We are committed to be the foundation of the battery value chain in Europe and it’s great to see the big support we receive from current and new investors. With this capital raise we are able to accelerate our business strategy by shortening the time for us to become a producer of ethical and fully traceable battery minerals for the electric vehicle industry”
, says Roberto García Martínez, CEO of Eurobattery Minerals.
Advisers
Augment Partners AB acted as financial adviser to the Company in the Rights issue. Bird & Bird Advokat KB acted as legal adviser to the Company.
For further information, please contact:
Roberto García Martínez, CEO
Email:
roberto@eurobatteryminerals.com
This information is of the kind that the Company is required to disclose in accordance with the EU’s Market Abuse Regulation. The information was issued for publication through the agency of the contact person set out above on 17 July, 2020 at 8:00 CEST.
Eurobattery Minerals in brief
Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Spain, Finland and northern Sweden. The company has two mining licenses and eight exploration licenses. The headquarters is located in Stockholm.
Augment Partners AB, tel. +46 8 505 651 72, email:
info@augment.se
is Eurobattery Minerals’ Mentor.
Important information
Publication or distribution of this press release may in some jurisdictions be subject to statutory and legal restrictions and persons in those jurisdictions where this press release has been published or distributed should inform themselves about and observe such restrictions. The information in this press release does not constitute an offer to acquire, subscribe or otherwise trade in shares or other securities in Eurobattery Minerals.
This press release does not constitute an offer to acquire securities in the United States. The securities mentioned herein may not be sold in the United States without registration in accordance with The Securities Act of 1933 or without the application of an exception to such registration. The information in this press release may not be released, published, reproduced or distributed in or to the United States, Australia, Canada, New Zealand, Hong Kong, Japan, Switzerland, Singapore, South Africa, or any other country or jurisdiction where such action is not permitted or such action is subject to legal restrictions or would require further registration or other measures than required by Swedish law. Measures contrary to this instruction may constitute a breach of applicable securities laws.
Eurobattery Minerals AB (Nordic Growth Market: “BAT”; “the Company”) a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, today announces that Vulcan Hautalampi Oy (“VHOy”) is about to commence drilling at the Hautalampi nickel (Ni), cobalt (Co), copper (Cu) project (“Hautalampi”; “the project”) in Outokumpu, eastern Finland. The Company has the option to acquire 100% of VHOy in a staged acquisition for an aggregate consideration of €6.05m in shares and cash.
Key points:
-
Diamond drilling at the Hautalampi Ni-Co-Cu mine development to commence Monday
13
th July.
-
Phase 1 drilling programme to consist of 45 – 50 drill holes for approximately 4,500 – 5,000m aimed at increasing the Mineral Resource base.
-
Drilling to target “Blue Sky” mineralisation to the northeast and along strike of the existing Hautalampi Mineral Resource Estimate of
3.2Mt @ 0.43% Ni, 0.35% Cu and 0.12% Co.
-
Blue Sky zone measures 2,080m in length and 470m in width, offering the potential for a substantial increase in resource tonnage.
-
A minimum exploration target of
2.8 – 4.5Mt at 0.28 – 0.36% Ni has been identified within 40m of historical drilling. Substantial resource upside of more than 6.5Mt has been identified within 100m of historical drilling.
-
Approximately two thirds of the Blue Sky zone to be tested during phase 1 drilling, targeting the most prospective areas over an area of 720m in strike and 320m in width.
-
Drilling to target the
shallowest mineralisation in the Blue Sky areas which is potentially amenable to low cost, open pit mining.
The 100% owner and manager of the Hautalampi Project, VHOy, have informed the Company that a diamond drill rig and crew are scheduled to arrive at the site on Monday 13
th July with drilling to commence immediately. The drilling contractor, Northdrill Oy,
www.northdrill.fi/en is an experienced operator in Finland and previously worked on the project in 2017-2018.
– We are incredibly pleased and satisfied for this smooth and quick start-up of the drilling campaign at Hautalampi, said Roberto García Martínez, CEO of Eurobattery Minerals
. Desktop studies of historical drilling and the geological model has recognised the area for resource expansion is greater than previously identified. This is an exciting time for both companies as we fast-track the project to production and we look forward to seeing the results of the drilling over the coming months.
The Project
The Hautalampi Project is located at the same site as the famous Keretti (Outokumpu) copper mine (Figure 1). Approximately 28.5Mt @ 3.8% Cu was mined at Keretti from 1912 – 1989. The Hautalampi Ni-Co-Cu orebody is located parallel and above the exploited copper deposit. Existing surface and underground infrastructure, including a high voltage power line, concrete foundations and roads, provide significant location advantages to the project. Approximately €10-15M has been invested in Hautalampi by previous owners, including 22,000m of core drilling, a decline and additional underground mine development works (2,100m), mineral resource and reserve estimates, multiple mineral processing studies and a feasibility study. Previous investment enables VHOy and BAT to fast-track the project to an updated feasibility study status.
Figure 1. Location map of Hautalampi Project, eastern Finland.
Drilling Programme
The phase 1 drilling programme has been planned to cover approximately two thirds of the prospective Blue Sky zone. Approximately 45 – 50 drill holes have been planned for 4,500 – 5,000m (Figure 2). Drilling will be undertaken by Northdrill Oy, an experienced contractor with substantial experience in the project area. The drill rig is well conditioned to operate year round, including winter (Figure 3). Drilling rates are anticipated to be approximately 1,500m per month. The Company plans to mobilise additional drill rigs to expedite the completion of phase 1 drilling.Drill holes will be spaced along sections to infill the historical drilling which was completed on 80m sections, thereby providing total coverage at 40m section spacing. Each drill hole will be spaced at 40m within each section. The mineralised horizons in the zones being targeted are relatively shallow and appear to have the most promising metal grades. Drill holes will be angled at approximately -80° to intersect the lodes perpendicular. Drill hole depths will range from 50 – 190m, with an average depth of approximately 110m
Figure 2. Plan view of Mineral Resource and Blue Sky zones highlighting proposed drillhole collar locations (red dots).
Figure 3. Northdrill Oy drill rig manufactured to operate year round in Finland.
For further information, please contact:
Roberto García Martínez, CEO
E-mail:
roberto@eurobatteryminerals.com
Website:
https://eurobatteryminerals.com//en/
About Eurobattery Minerals
Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Finland, Spain and Sweden. The Company has one mining licence and eight exploration licences. The headquarters are located in Stockholm.
Augment Partners AB, e-mail: info@augment.se, phone: +46 8 505 651 72, is the company’s Mentor.
Today the independent securities broker Mangold Fondkommission issued an updated analysis on Eurobattery Minerals (NGM; “BAT”). In the analysis the company set the mid-term stock price target at SEK 100.
In the analysis Mangold writes among other things:
“Through the acquisition of the Hautalampi mining project, Eurobattery Minerals is taking a step towards becoming the leading supplier of green minerals to Europe’s battery industry”.
To read the full analysis, please go to https://insight.mangold.se/.
For further information, please contact:
Roberto García Martínez, CEO
E-mail: roberto@eurobatteryminerals.com
Website: https://eurobatteryminerals.com//en/
About Eurobattery Minerals
Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Finland, Spain and Sweden. The Company has one mining licence and eight exploration licences. The headquarters are located in Stockholm.
Augment Partners AB, e-mail: info@augment.se, phone: +46 8 505 651 72, is the company’s Mentor.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SWITZERLAND, SINGAPORE, SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL, BE SUBJECT TO LEGAL RESTRICTIONS OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.
The Board of Directors of Eurobattery Minerals AB (publ) (“Eurobattery” or the “Company”) proposed a rights issue of units of approximately SEK 47.3 million on 11 May 2020, which the Extraordinary General Meeting resolved on 27 May 2020 (the “Rights issue”). Due to the Rights issue, the Board of Directors of the Company has prepared a prospectus which has been published today on 25 June 2020. In addition, the Company will hold digital investor meetings in connection with the Rights issue.
In connection with the Rights issue, the Board of Directors of Eurobattery has prepared a prospectus which today has been approved and registered by the Swedish Financial Supervisory Authority and subsequently published by the Company. The prospectus is available for download on the Company’s website (www.eurobatteryminerals.com), Augment Partners AB’s offer site (offers.augment.se) and Aqurat Fondkommission AB’s website (www.aqurat.se). The prospectus will also be available on the Swedish Financial Supervisory Authority’s website (www.fi.se).
Subscription forms will be available on the websites above before the subscription period starts on 29 June 2020.
Timetable for the Rights issue
| 25 June 2020 | Record date for the Rights issue |
| 29 June-14 July 2020 | The subscription period for the Rights issue |
| 29 June-10 July 2020 | Trading period of unit rights |
| From 29 June 2020 until registration at the Swedish Companies Registration Office | Trading in the units (BTU) |
| 17 July 2020, preliminary | Announcement of the outcome of the Rights issue |
Investor meetings
In connection with the Rights issue, Eurobattery will hold the following digital investor meetings (note that the meetings will be held in English):
- Video conference with the Company’s CEO on 30 June 2020 at 17:30 CEST.
- Video conference with the Company’s CEO on 07 July 2020 at 17:30 CEST.
Registration for the investor meetings above is sent to info@augment.se.
Advisers
Augment Partners AB is acting as financial advisor and Bird & Bird Advokat KB is acting as the legal adviser to the Company in connection with the Rights issue.
For further information, please contact:
Roberto García Martínez, CEO
Email: roberto@eurobatteryminerals.com
Eurobattery Minerals in brief
Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Finland, Spain and northern Sweden. The company has one mining license and eight exploration licenses. The headquarters is located in Stockholm.
Augment Partners AB, tel. +46 8 505 651 72, email: info@augment.se is Eurobattery Minerals’ Mentor.
Important information
Publication or distribution of this press release may in some jurisdictions be subject to statutory and legal restrictions and persons in those jurisdictions where this press release has been published or distributed should inform themselves about and observe such restrictions. The information in this press release does not constitute an offer to acquire, subscribe or otherwise trade in shares or other securities in Eurobattery Minerals.
This press release does not constitute an offer to acquire securities in the United States. The securities mentioned herein may not be sold in the United States without registration in accordance with The Securities Act of 1933 or without the application of an exception to such registration. The information in this press release may not be released, published, reproduced or distributed in or to the United States, Australia, Canada, New Zealand, Hong Kong, Japan, Switzerland, Singapore, South Africa, or any other country or jurisdiction where such action is not permitted or such action is subject to legal restrictions or would require further registration or other measures than required by Swedish law. Measures contrary to this instruction may constitute a breach of applicable securities laws