Global Partner Search Process Launched with Bacchus Capital Advisers
VANCOUVER, British Columbia, May 28, 2020 (GLOBE NEWSWIRE) — Euro Manganese Inc. (TSX-V / ASX: EMN) (the “Company” or “EMN”), holder of 100% of the rights to Chvaletice Manganese Project (the “Project”) in the Czech Republic, is pleased to announce that it has initiated a process with its financial adviser, Bacchus Capital Advisers (“BCA”), to secure a strategic partner to assist with the development of the Project.
The Company has received expressions of interest from various parties to partner in the development of the Project and, as a result, the board of directors of the Company (the “Board”) believes that it is in the best interest of all of our stakeholders to launch a formal global partner search to find an optimal ownership and/or capital structure that can support the advancement of this important European waste recycling project.The Chvaletice Manganese Project represents a sizeable, globally significant, and advanced stage development opportunity that is expected to sustainably and competitively deliver battery-grade, high-purity manganese products. This Project is highly strategic due to its well-connected location in the heart of Europe’s fast-growing electric vehicle and battery production supply chain. Chvaletice stands to become Europe’s only primary producer of high-purity manganese products. Development of this resource is expected to have a significant positive impact on the future of European sustainable battery manufacturing.EMN and BCA will evaluate all available options for the advancement and development of the Project, to deliver maximum value of this strategic asset for the Company’s shareholders. The Company looks forward to updating shareholders and other stakeholders as to the results of this process.The Company confirms that while it has received initial approaches from certain parties, it is not in receipt of any binding offer at this time. There can be no certainty that this process will result in an offer or any form of transaction, or about the terms and timing of such matters.Any interested party wishing to participate in this process should contact BCA directly (contact details as set out below).The Board reserves the right to alter any aspect of the process as outlined above or to terminate the process at any time and, in such cases, will make further announcements as appropriate. The Board also reserves the right to reject any approach or terminate discussions with any interested party at any time.EMN does not intend to disclose developments with respect to this strategic process unless the Board has approved a specific transaction, or otherwise determines that disclosure is necessary or appropriate.About Euro Manganese:Euro Manganese Inc. is a Canadian mineral resource company focused on the development of the Chvaletice Manganese Project in the Czech Republic. The Project will recycle historic mine tailings that host Europe’s largest manganese deposit and result in an environmental remediation of this site. The European Union is emerging as a major electric vehicle and battery manufacturing hub. EMN’s goal is to become the preferred supplier of sustainably produced ultra-high-purity manganese products for the lithium-ion battery industry and for producers of specialty steel, high-technology chemicals and aluminum alloys.This announcement was authorized for release by the CEO of Euro Manganese Inc.Forward Looking Statement:Certain statements in this news release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, the Project, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.Such forward-looking information or statements relate to future events or future performance about the Company and its business and operations, which include, among other things, statements with respect to the partner selection process, its corporate strategy moving forward, any transactions arising from the process, and future opportunities available for the Company.Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to, the factors discussed under “Risks Notice” and elsewhere in the Company’s MD&A for the year ended September 30, 2019 and its most recent Annual Information Form.The forward-looking statements contained in this news release are made as of the date hereof and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.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.