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Euro Manganese directors demonstrate support through placement participation

The company has identified an opportunity to fill supply chain gaps for ultra-high-purity manganese products used in the lithium-ion battery industry.

Euro Manganese Inc - Euro Manganese's board of directors participate in placement of shares
Euro Manganese’s goal is to be the preferred European supplier of ultra-high-purity manganese for lithium-ion batteries

Euro Manganese Inc’s (ASX:EMN) (CVE:EMN) directors have demonstrated their support for the company's manganese strategy by participating in the company’s placement of shares.

This participation was part of the second tranche of a non-brokered private placement and raised A$487,780 with both tranches contributing approximately A$1.005 million.

Tranche-2 was officially closed following the approval of 100% of shareholders who voted at a special meeting on May 1.

Director purchases

Director Greg Martyr acquired 174,615 shares worth more than A$22,600 in a direct interest Hogan’s Bluff Capital Pty Ltd, in which he is controlling shareholder. He now holds 635,852 shares in two direct interests.

Mangan Chvaletice sro managing director Jan Votava acquired 94,545 shares valued at almost C$10,400 increasing the total number of securities held after the change to 695,196.

Interim chairman John Webster purchased 181,818 shares with a value just shy of C$20,000 in a direct interest JJW Investments Ltd, in which he is the controlling shareholder. He now holds 1,149,317 shares in two direct interests.

Director Harvey McLeod bought 945,454 shares for a total of almost C$104,000 and now holds 5,099,454 shares in three interests.

President and CEO Marco Romero purchased 1.2 million shares worth C$132,000 in a direct interest Navigator Management Ltd, of which he is the controlling shareholder. Romero now holds 10.913 million shares in three interests.

Director Roman Shklanka acquired 1 million shares worth C$110,000 in a direct interest Shklanka Holdings Ltd, of which he is the controlling shareholder, and now holds 11,453,335 shares in two interests.

Another director David Dreisinger bought 47,272 shares valued at almost C$5,200 in a direct interest and now holds 784,771 shares in that interest.

Director Daniel Rosicky purchased 118,181 shares valued at almost C$13,000 and now holds 1,148,180 shares in a direct interest.

Funds to advance Chvaletice project

The second tranche of the offering comprised subscriptions by related parties of more than 4.26 million common shares at a price of A11 cents per share and 174,615 CHESS Depositary Interests at a price of A13 cents each.

Funds will be used to further advance the Chvaletice Manganese Project in the Czech Republic, including advancing the feasibility study and preparation of the Environmental Impact Assessment submission as well as for general corporate purposes.

Quick facts: Euro Manganese Inc

Price: 0.067 AUD

ASX:EMN
Market: ASX
Market Cap: $12.99 m
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