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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 the final results for sulphide mineral tests at the nickel, cobalt, copper Castriz prospect in Galicia, northwest Spain. In the larger Corcel project, Castriz is one of three primary prospects together with Monte Mayor and Monte Castello.

Key points:

A total of 129 samples from four different drill holes from the 2019 Castriz drilling were analysed by ALS Global[1] in Perth, Australia, using methods for analysing the proportion of nickel in a rock sourced from sulphide minerals. Nickel sulphide, also known as Class 1 nickel, is the preferred mineral for producing the intermediate products required for electric battery applications. The latest results from across previously reported intervals confirms most of the nickel is sourced from economic sulphide minerals.

The final assay results confirm Castriz to be a significant nickel sulphide discovery. With these results, we have taken a large step forward in our ambition to become a producer of battery minerals and thus a significant contributor to the foundation of the battery value chain in Europe. We will now look into different development scenarios at Castriz, including mineral processing and mining studies, said Roberto García Martínez, CEO of Eurobattery Minerals.

Summary of final nickel-in-sulphide assay results

The analytical method utilised, referred to by ALS Global as ME-ICP09, is specifically applicable for assessing the proportion of nickel sulphide. In conjunction with total nickel analysis (ME-ICP61), which gives total nickel contents of the rock, it is possible to assess the proportion of economic sulphide nickel versus non-economic nickel contained in silicate minerals.

The final assay results confirm that most of the nickel in the samples submitted is attributable to nickel sourced from economic sulphide minerals (Table 1). Nickel in the main mineralised intervals is sourced 75-85% from sulphide minerals. The Company is extremely encouraged about the potential size of the mineral system discovered, which measures at least 700m in strike and 700m in width based on limited drilling completed so far. Importantly, mineralisation commences from surface to a depth of over 200m, making the ore body potentially amenable to low cost, open pit mining.

Table 1. Nickel-in-sulphide assays from drilling at Castriz prospect.

Hole ID   From (m) To (m) Int (m) ME-ICP61 ME-ICP09 % Ni-in-
          Total Sulphide sulphide vs
          Ni ppm Ni ppm total Ni
19DD0001   45.00 147.00 102.00 0.28 0.21 75%
  incl.   78.00   147.00   69.00 0.30 0.23 75%
     incl.     78.00       99.00     21.00 0.35 0.26 76%
     and     129.00     141.00     12.00 0.48 0.41 85%
        incl.       132.00       135.00         3.00 0.69 0.64 93%
19DD0002   3.00 114.00 111.00 0.21 0.18 84%
  incl.   14.50   39.00   24.50 0.30 0.26 86%
      incl.     14.50     27.00     12.50 0.36 0.31 87%
19DD0003   131.50 206.85 75.35 0.24 0.21 86%
  incl.   182.50   206.85   24.35 0.34 0.31 89%
     incl.    191.50     200.50       9.00 0.44 0.40 90%
19DD0004   6.80 35.60 28.80 0.20 0.12 60%
    178.85 251.30 72.45 0.20 0.14 71%

 

Next steps

Samples are currently being analysed at SGS’s Canadian facilities for more detailed mineralogy studies and QEMSCAN analysis to determine sulphide species and mineral liberation characteristics. The results of these studies will be used in assessing the economics of potential development scenarios at Castriz.

For further information, please contact:

Roberto García Martínez, CEO 

E-mail: roberto@eurobatteryminerals.com

Website: https://eurobatteryminerals.com//en/

This information is the sort of information that the company is obliged to disclose under the EU market abuse regulation. The information was submitted by the above contact person for publication on 22 June 2020 at 08:00 CEST.

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.

 

[1] ALS Global is the leading full-service provider of analytical geochemistry services to the global mining industry.

Eurobattery Minerals AB (NGM; “BAT”), a growth company in the mineral exploration industry with a corporate vision to help Europe become self-sufficient in ethical battery minerals, is pleased to welcome Henrik Johannesson as board member and chairman of the board. He was elected at the company’s Annual General Meeting on the 17th of June 2020 and thus replaces Monia Benbouzid.

 

– We welcome Henrik to our team. The combination of his strategic knowledge and international experience will bring important value to the company in our continued expansion as the foundation for the European battery industry. As the chairman of the board he will play an important role over the coming years for the company’s continued development. We also thank Monia for her work and wish her all the best in her future venture, said Roberto García Martínez, CEO at Eurobattery Minerals.

 

Henrik has a broad experience from previous board assignments. His experience spans from many different industries and markets.  Having started his career as a lawyer at Vinge he has held several management positions at Oriflame Cosmetics and Oriflame Global Management,  including Managing Director and Vice President for the company. 

 

For the past 17th years he has lived and worked across most continents, including Mexico, Vietnam, Croatia, Iran, Turkey and Poland. In his roles he has held full P&L responsibility with focus on growth and new market entries. Further to this, he has also been responsible for several ventures in Africa and Latin America. Henrik is now based in Stockholm. 

 

Henrik holds an LLM Master of Laws from Lund University and has studied business at Stockholm School of Economics as well as completed an Executive Education at Harvard Business School.

 

– I am thrilled to join Eurobattery Minerals. In my capacity as chairman of the board I am looking forward to working in close collaboration with Roberto and support the execution of our vision to provide ethical and fully traceable battery minerals to the growing market for electric vehicles, said Henrik Johannesson. 

 

In addition to Henrik, Roberto García Martínez and Jan-Olof Arnbom who was re-elected as board members at the meeting.

 

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 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

Owners representing 44 percent of the share capital in Eurobattery Minerals AB (NGM; “BAT”), a growth company in the mineral exploration industry with a corporate vision to help Europe become self-sufficient in ethical battery minerals, propose the re-election of Roberto García Martínez and Jan-Olof Arnbom to the board of directors of the company. Further to this, Henrik Johannesson has been proposed as new board member and chairman of the board replacing current chairman Monia Benbouzid who is not available for re-election.

Roberto García Martínez is the CEO of Eurobattery Minerals and has acted as a board member of the company since 2019. He has more than 25 years’ experience in the mining industry at the international level. During his career, he has worked on both the theoretical and practical sides of the exploration and mining industry. He has been President and CEO of major mining groups in Africa (2006–2018). Roberto has worked with company strategies, marketing, mining M&M and exploration management. Roberto is a Doctor of Law and has a bachelor’s degree in economics and industrial psychology.

Jan-Olof Arnbom is a board member of Eurobattery Minerals since 2018. Among other things, Jan Olof was head of unit for the Geological Survey of Sweden during 2007–2017. Jan Olof has also worked as a geo consultant with various assignments for several consulting firms including Bjerkings ingenjörsbyrå, SGAB and IVL Svenska Miljöinstitutet. He has a Master’s licentiate in geology from Uppsala University.

Henrik Johannesson is nominated as new board member and chairman of the board at Eurobattery Minerals. Henrik holds more than 20 years of international executive leadership experience, including a number of key positions as member of the senior management group of Oriflame Cosmetics. Henrik has led executives and organizations >600FTE (sales, marketing, finance, IT, operations, HR) with full P&L responsibility across most continents with focus on growth and new market entries. At current Henrik is an active investor with engagement in businesses varying from anti-doping (sports), tech & digital platforms, telecom, gyms and health supplements. Prior to venturing into general management Henrik was a lawyer at Vinge law firm with focus on M&A. Henrik holds an LLM Master of Laws from Lund University, has studied business at Stockholm School of Economics and has completed Executive Education at Harvard Business School. 

The election of board members will take place on the Annual General Meeting of Eurobattery Minerals on the 17th of June at 10.00 a.m. 2020 at the law firm Bird & Bird, Norrlandsgatan 15 in Stockholm. 

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 16th of June 2020 at 10:00 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

Eurobattery Minerals AB (NGM; “BAT”), a growth company in the mineral exploration industry with a corporate vision to help Europe become self-sufficient in ethical battery minerals today announces that Martin Boldt-Christmas has decided to step down from his position as member of the board and thus he is no longer available for re-election at the Annual General Meeting on June 17. 

 

– The company has changed fundamentally since Martin joined the board and we thank him for his support, hard work and leadership, said Roberto García Martínez, CEO at Eurobattery Minerals.

Martin has been a member of the board since 2018 as a representative for the shareholder Marbury Ridge Ltd. During his tenure the company has built a solid management team, defined its current strategy, broadened the shareholder base and expanded operations from Sweden to also include Spain and Finland.

– It has been a true privilege to work with the company and its management team. Roberto has done a remarkable job and I’m confident that he and the management team will continue to take the company to the next level and beyond, said Martin Boldt-Christmas.

Martin will leave his role as member of the board on the 17th of June, 2020.

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 12th of June 2020 at 15:00 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 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.se is Eurobattery Minerals’ Mentor

Eurobattery Minerals AB (NGM Nordic SME: “BAT”; the “Company”), a growth company in the mining and exploration industry, closes the investment and shareholders agreement that was entered into on 11 may 2020. The investment and shareholders agreement includes an option for a staged acquisition of 100 per cent of the shares in Vulcan Hautalampi Oy (“VHOy”). The Company paid €0.05M in cash and €0.2M in BAT shares at the closing in consideration for the options to acquire VHOy.

The consideration in BAT shares is made at a price of €200,001 and is paid a 100 percent through the seller’s claim towards the Company, which is set off against payment for 150,663 BAT shares subscribed by the sellers in a directed issue. The shares are issued at an amount of SEK 14.01307 per share, which corresponds to the volume-weighted average price quote on Nordic SME for the Company’s share during ten days prior to the general meeting’s resolution to issue the shares.

All three sellers have entered into a lock-up agreement with the Company. The lock-up period starts today (27 may 2020) and ends on the date falling 270 days after the subscription of the directed issue.

More information regarding the investment and shareholders agreement is available in the press release that was made public on 11 may 2020.

For further information, please contact:

Roberto García Martínez, CEO

E-mail: roberto@eurobatteryminerals.com

Website: https://eurobatteryminerals.com//en/

This information is the sort of information that the company is obliged to disclose under the EU market abuse regulation. The information was submitted by the above contact person for publication on 27 May 2020 at 12:45 CEST.

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 and northern Sweden. The Company has one mining licence and eight exploration licences. The headquarters are located in Stockholm.

Augment Partners AB, email: info@augment.se, phone: +46 8 505 651 72, is the company’s Mentor

The shareholders of Eurobattery Minerals AB held an Extraordinary General Meeting on 27 May 2020 in Stockholm at which the following main resolutions were passed.

Directed issue

The Meeting decided to increase the company’s share capital by not more than SEK 150,663 through the new issue of not more than 150,663 shares, disapplying shareholders’ preferential rights, in accordance with the Board’s proposal. Alandra Oy, Kiviralli Oy and Tetra Ekberg Oy are entitled to subscribe for issued shares.

New issue of units with preferential rights for the company’s shareholders

The Meeting decided to increase the company’s share capital by not more than SEK 5,816,814 through the new issue of not more than 1,938,938 units, with preferential rights for the company’s shareholders, in accordance with the Board’s proposal. One unit right will be received for every five existing shares held on the record date of 25 June 2020. One unit right entitles the holder to subscribe for one unit consisting of two new shares and one new warrant. The subscription price is SEK 24 per unit.

Stockholm, 27 May 2020 Eurobattery Minerals AB (publ) The Board of Directors

For further information, please contact:

Roberto García Martínez, CEO

E-mail: roberto@eurobatteryminerals.com

Website: https://eurobatteryminerals.com//en/

This information is the sort of information that the company is obliged to disclose under the EU market abuse regulation. The information was submitted by the above contact person for publication on 27 May 2020 at 12:45 CEST.

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 and northern Sweden. The Company has one mining licence and eight exploration licences. The headquarters are located in Stockholm.

Augment Partners AB, email: info@augment.se, phone: +46 8 505 651 72, is the company’s Mentor

 

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 and northern Sweden. The Company has one mining licence and eight exploration licences. The headquarters are located in Stockholm.

Augment Partners AB, email: info@augment.se, phone: +46 8 505 651 72, is the company’s Mentor

Eurobattery Minerals AB (NGM; “BAT”), a growth company in the mineral exploration industry with a corporate vision to help Europe become self-sufficient in ethical battery minerals, today publish its annual report for 2019.

Eurobattery Minerals AB’s annual report for 2019 is attached to this press release and is available to download from the Company’s website: https://eurobatteryminerals.com//en/economic-reports/

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 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

First quarter 2020 (same period previous year)

Significant events during the period

Significant events after the period

Summary of CEO comments:

Eurobattery Minerals AB Interim Report January – March 2020 is attached to this press release and is available to download from the Company’s website:

https://eurobatteryminerals.com//en/economic-reports/

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 20th of May 2020 at 08:00 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 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

Eurobattery Minerals AB (NGM Nordic SME: “BAT”; the “Company”), a growth company in the mining and exploration industry, has signed an investment and shareholders agreement including an option for a staged acquisition of 100 per cent of the shares in Vulcan Hautalampi Oy (“VHOy”), 100 per cent owner of the Hautalampi Nickel-Cobalt-Copper Project, in eastern Finland. The option under the Investment and Shareholders Agreement is linked to an obligation to provide successive cash financing for investments in the Hautalampi nickel-cobalt-copper Project (the “Hautalampi Project”). The consideration to be paid by BAT for acquired shares in VHOy and the option premium, and the cash financing to be provided by BAT for the Hautalampi Project amount to approximately €8.6M in total, payable during 48 months. The Board of Directors of the Company has decided, subject the approval of an Extraordinary General Meeting, on a rights issue of units to finance some of the mining activities in connection with the acquisition. For the partial payment of the option premium, the Company will issue new shares to the existing shareholders of VHOy amounting to €0.2M. More information regarding the rights issue of units will be given through a separate press release.

The Hautalampi Project is located at the same site as the famous Keretti (Outokumpu) copper mine (1912-1989). The Hautalampi Ni-Co-Cu orebody is located parallel to and above the exploited copper deposit. Existing surface and underground infrastructure provide significant location advantages in what is already a tier 1 mining jurisdiction.

– This acquisition is an important milestone for Eurobattery Minerals as it accelerates our business strategy and shortens the time to us being producers. As the foundation of the battery value chain we are committed to provide ethically produced and traceable battery minerals from Europe critical for the rapidly growing electric vehicle industry, said Roberto García Martínez, CEO of Eurobattery Minerals.

Key points:

Acquisition terms

The Company has options to acquire 100 per cent of VHOy in a multi-staged transaction in consideration for €6.05M in cash and BAT shares over a 48 months period. The acquisition is structured as follows:

The sellers’ shares will be locked-up for nine (9) months from the point in time when new shares are issued to them. There is a drag-along clause at a valuation exceeding €15.0M, where the Company has to sell its shares if the old shareholders decide to sell to another party (this at a point when the Company has invested a maximum of €3.5M).

The Board of Directors of the Company has decided, subject the approval of an Extraordinary General Meeting, on a rights issue of units to finance some of the mining activities in connection with the acquisition. More information regarding the rights issue of units will be given through a separate press release.

The Hautalampi Project

Please see the attached full report for details.

For further information, please contact:

Roberto García Martínez, CEO

E-mail: roberto@eurobatteryminerals.com

Website: https://eurobatteryminerals.com//en/

This information is the sort of information that the company is obliged to disclose under the EU market abuse regulation.

The information was submitted by the above contact person for publication on 11 May 2020 at 08:00 CEST.

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 and northern Sweden. The Company has one mining licence and eight exploration licences. The headquarters are located in Stockholm.Augment Partners AB, email: info@augment.se, phone: +46 8 505 651 72, is the company’s Mentor

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