Euro Manganese Announces the Third Tranche of EIT InnoEnergy''s Investment
VANCOUVER, British Columbia, Aug. 30, 2022 (GLOBE NEWSWIRE) -- Euro Manganese Inc. ((TSX-V and ASX: EMN, OTCQX: EUMNF ) (the " Company " or " EMN ") is pleased to announce the receipt of the third and final investment tranche from EIT InnoEnergy of €62,500 (CAD$80,606). Pursuant to the terms of a Project Support Agreement entered into by the Company and EIT InnoEnergy (the " Agreement "), announced on February 22, 2021, the Company was to receive a three-tranche investment having an aggregate value of €250,000. The funds have been used to support work on the Chvaletice Manganese Project''s (the " Project ") definitive feasibility study, the results of which were announced on July 27, 2022, and on the Chvaletice demonstration plant, which is intended to produce large-scale samples of high-purity manganese for supply chain qualification by prospective customers, including European electric vehicle makers and battery manufacturers. The first two InnoEnergy investment tranches totalling €187,500 (CAD$278,012) were advanced in 2021, for which the Company issued 478,027 common shares (" Shares ") on January 6, 2022 (refer to EMN news release dated January 6, 2022).
Euro Manganese Announces the Third Tranche of EIT InnoEnergy''s Investment
VANCOUVER, British Columbia, Aug. 30, 2022 (GLOBE NEWSWIRE) -- Euro Manganese Inc. ((TSX-V and ASX: EMN, OTCQX: EUMNF ) (the " Company " or " EMN ") is pleased to announce the receipt of the third and final investment tranche from EIT InnoEnergy of €62,500 (CAD$80,606). Pursuant to the terms of a Project Support Agreement entered into by the Company and EIT InnoEnergy (the " Agreement "), announced on February 22, 2021, the Company was to receive a three-tranche investment having an aggregate value of €250,000. The funds have been used to support work on the Chvaletice Manganese Project''s (the " Project ") definitive feasibility study, the results of which were announced on July 27, 2022, and on the Chvaletice demonstration plant, which is intended to produce large-scale samples of high-purity manganese for supply chain qualification by prospective customers, including European electric vehicle makers and battery manufacturers. The first two InnoEnergy investment tranches totalling €187,500 (CAD$278,012) were advanced in 2021, for which the Company issued 478,027 common shares (" Shares ") on January 6, 2022 (refer to EMN news release dated January 6, 2022).