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:

• Final assay results received from nickel sulphide (Ni•S) assays on mineralised samples from recent drilling at the Castriz prospect in northwest Spain confirm significant nickel sulphide discovery at Castriz.
• Analytical methods that detect nickel sourced from sulphide minerals has shown that 75% to 85% of the total nickel from the main mineralised intervals previously reported is from sulphide minerals.
• Assay highlights include:
  • 21m @ 0.26% Ni•S from 78m and 12m @ 0.41% Ni•S from 129m, including 3m @ 0.64% Ni•S from 132m (19DD0001)
  • 24.5m @ 0.26% Ni•S from 14.5m, including 12.5m @ 0.31% Ni•S from 14.5m (19DD0002)
  • 24.35m @ 0.31% Ni•S from 182.5m, including 9.0m @ 0.40% Ni•S from 191.5m (19DD0003)
• Nickel grades considered to be of economic grade with 0.15% Ni a common cut-off grade for open pit resources.
• Prospective area confirmed for over 700m in strike length and approximately 700m in width with mineralisation commencing at surface to vertical depth of 200m. This makes Castriz potentially amenable to low-cost, open pit bulk mining.
• Samples submitted for more detailed mineralogy studies and QEMSCAN analysis to determine sulphide species and mineral liberation characteristics.

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.

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://investors.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://investors.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://investors.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://investors.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)

• Net sales amounted to SEK 0 (SEK 0).
• Operating income after depreciation/amortisation and financial items totalled KSEK -2,248 (KSEK -2,104)
• Earnings per share after depreciation/amortisation and financial items amounted to SEK -0.23 (SEK -0.08).
• Cash flow from operating activities was KSEK -1,564 (KSEK -1,564).

Significant events during the period

• The Company received the final assay results during the reporting period following completion of a 4 hole, 998m drill programme in the fourth quarter of 2019 at the Castriz prospect, which is part of the Corcel Ni-Co-Cu Project in NW Spain.
• Exploration Activities have confirmed there to be large areas of ultramafic rock with elevated nickel contents. The anomalous area extends for over 700m in strike and over 700m in width. Assay highlights from the four drill holes included:
• 69m @ 0 30% Ni, 0.04% Cu & 0.01% Co from 78m (19DD0001)
• 24.5m @ 0.30%0 Ni, 0.12% Cu & 0.01% Co from 14.5m (19DD0002)
• 75m @ 0.24% Ni, 0.04% Cu & 0.01% Co from 131.5m (19DD0003)
  • including 9m @ 0.44% Ni, 0.14% Cu & 0.02% Co from 191.5m
• 28.8m @ 0.20% Ni, 0.14% Cu & 0.01% Co from 6.8m (19DD0004)
• Mineral identification and speciation studies have commenced on drill core from Castriz to determine the potential for extraction of nickel using sustainable and conventional methods. Final results of the mineral studies are anticipated in early Q2 2020.
• Collaboration with Uppsala University and the AGH University of Science and Technology in Krakow on the vanadium potential of rock sequences at the Fetsjön project in Västerbotten determined the host mineral to be a variety of rutile. Planning is now underway to determine the potential for sustainable extraction of the vanadium.
• The Company has been pre-selected to take part in the EU project S3-MINE. S3-MINE’s main objective is the development and implementation of a mining pilot at 10 different facilities in 6 different EU countries. The aim is to demonstrate the feasibility of innovative digital technologies throughout the mining life cycle as a powerful tool to increase efficiency, selectivity and profitability of the mining operations, while minimising environmental impacts and associated health & safety issues. As a pre-selected member in the S3-MINE project, the Company can apply for monetary funding from a fund assigned to this project.
• The Company is safely managing its activities and financial position during the current challenging conditions associated with COVID-19. Progress on the Company’s projects has not been impacted as activities consist primarily of desktop studies. Third-party laboratory operators are able to process analytical test work with minimal delays.

Significant events after the period

• The Company announced the preliminary results from nickel sulphide mineral tests on mineralised samples from recent drilling at Castriz prospect in Galicia, northern Spain. Analytical methods that distinguish between nickel in sulphide minerals and nickel in non-sulphide minerals determined that on average 87% of the whole rock nickel assay previously reported is sourced from nickel sulphide minerals.
• The Company 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, 100 per cent owner of the Hautalampi Nickel-Cobalt-Copper Project, in eastern Finland.
• The Board of Directors of BAT has proposed to an Extraordinary General Meeting on 27 May 2020 to carry out a rights issue of at most 1,938,938 units (the “Rights issue”). One (1) unit consists of two (2) shares and one (1) warrant (the “Unit”).  The subscription price of a Unit is SEK 24.00, whereby BAT upon full subscription in the Rights issue would obtain approximately SEK 46.5 million before issue costs. Every five (5) existing shares entitle to one (1) unit right and one (1) unit right entitles to subscribe for one (1) unit. The subscription period runs during 29 June – 14 July 2020. The Rights issue is secured to SEK 23.3 million by subscription commitments of SEK 6.0 million, e.g. from the Company’s CEO, and the remaining part by underwriting commitments.

Summary of CEO comments:

• As a result of the COVID-19 pandemic the Company adapted its working methods to continually run the different projects, now remotely. The Company completed all current field activities ahead of the pandemic and have all employees and consultants in good health and at their homes.
• We continue to evaluate the drilling results and the implications for mineral deposits at Castriz and the wider Corcel Project, including the Monte Mayor and Monte Castello prospects.
• Mineral studies conducted by Uppsala University and the AGH University of Science & Technology in Krakow on the vanadium potential at BATs project Fetsjön in Västerbotten in Sweden have advanced our understanding of source of the vanadium. Next step is to assess the technical and economic implications of this.
• During the quarter we become a partner in the S3-MINE pilot programme, a European union project in support of sustainable mining. Specifically, BAT’s Fetsjön project in Västerbotten, Sweden, has qualified for support.
• We are focused on advancing our projects and also expanding our footprint in the exploration and mining of raw materials, and as such be the foundation for the European EV battery industry.

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://investors.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

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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 (NGM Nordic SME: “BAT”; the “Company”) has proposed to an Extraordinary General Meeting on 27 May 2020 to carry out a rights issue of at most 1,938,938 units (the “Rights issue”).
One (1) unit consists of two (2) shares and one (1) warrant (the “Unit”).  The subscription price of a Unit is SEK 24.00, whereby BAT upon full subscription in the Rights issue would obtain approximately SEK 46.5 million before
issue costs. Every five (5) existing shares entitle to one (1) unit right and one (1) unit right entitles to subscribe for one (1) unit. The subscription period runs during 29 June – 14 July 2020. The Rights issue, upon full
subscription, would increase the number of shares in the Company with 3,877,876, not taking into account the effect of the warrants and of the 750,000 consideration shares that will be issued before the record date of the Rights
issue to the existing shareholders of Vulcan Hautalampi Oy (“VHOy”), valued at EUR 200 thousand in total (the “Consideration shares”). In addition, the warrants issue could increase the number of shares in the Company with at most
1,938,938, not taking into account the effect of the Consideration shares. The proceeds from the Rights issue will be used to finance mining activities in Spain and the mining activities in connection to the option to acquire VHOy.
A notice to the Extraordinary General Meeting will be announced through a separate press release. The Rights issue is secured to SEK 23.3 million by subscription commitments of SEK 6.0 million, e.g. from the Company’s CEO, and the
remaining part by underwriting commitments.

The Rights issue in brief

• Approximately SEK 46.5 million before transaction costs is expected to be raised in the Rights issue if fully subscribed, not taking into account the effect of the Consideration shares. The proceeds from full subscription of the
  warrants, provided full subscription in the Rights issue, could amount to at least SEK 23.3 million and at most approximately SEK 34.9 million, not taking into account the effect of the Consideration shares.
• The Rights issue is secured to 50 per cent through subscription commitments and external underwriters before the effect of the Consideration shares.
• Shareholders will receive one (1) unit right (the “Unit right”) for every five (5) shares held on the record date. One (1) Unit right entitles the holder to subscribe for one (1) Unit. One (1) Unit consists of two (2) new shares and
  one (1) warrant.
• The record date for the Rights issue will be 25 June 2020 with the last day of trading including the Unit rights is 23 June 2020 and the first day of trading excluding the Unit rights is 24 June 2020.
• The subscription price is SEK 24.00 per Unit. The subscription period for the Rights issue (the “Subscription period”) is expected to commence on 29 June and it is expected to end on 14 July 2020.
• The subscription price for the shares that can be subscribed based on the warrants will be defined based on the 10 days volume weighted average price of the Company’s shares on the NGM Nordic SME commencing on 21 September 2020 and
  ending on 2 October 2020 with a 30 per cent discount. However, the subscription price shall not be less than SEK 12.00 per share nor higher than SEK 18.00 per share.
• Each warrant will give the right to subscribe for one (1) new share during the period 5-16 October 2020.
• Net proceeds from the Rights issue will be used to finance mining activities in Spain and some of the mining activities in connection to the option to acquire the VHOy.

Reasons for the Rights issue and use of proceeds

BAT is a mining exploration company listed on NGM Nordic SME. The Company conducts targeted mineral exploration in Europe and has a strategy of finding mining and exploration projects, which have good potential according to the Company.
The Company is focusing on commodities leveraging the EV industry (e.g. nickel, copper and cobalt). BAT sees a shift in demand for battery metals and wants to provide Europe with ethical and fully traceable minerals for the electric
revolution.

The Company has signed an investment and shareholders agreement including an option for a staged acquisition of 100 per cent of the shares in VHOy, 100 per cent owner of the Hautalampi Nickel-Cobalt-Copper Project, in eastern Finland.
The option to acquire VHOy is a further step in building a high-quality exploration and production company with several projects in different stages of advancement throughout Europe. Today, the Company has seven exploration permits for
rare earth metals in Sweden and the Corcel project located in La Coruña and the Bibi project located in Ourense, Galicia, northwest Spain.

The proceeds from the Rights issue will be used to finance mining activities in both Corcel, Spain, and the mining activities in connection to the option to acquire the VHOy.This acquisition is an important milestone for BAT as it
accelerates the Company’s business strategy and shortens the time to being a producer.

“We are very pleased to have secured financing for continued mining activities in both the Corcel and Hautalampi projects to enable us to complete feasibility studies for both the projects during 2021”, CEO Roberto Garcia.

Terms of the Rights issue

The Board of Directors of the Company has proposed that an Extraordinary General Meeting on 27 May 2020 decides to carry out a Rights issue of at most 1,938,938 units, not taking into account the effect of the Consideration shares, for
subscription in accordance with the shareholders’ preferential subscription rights, subject to the approval of the Extraordinary General Meeting on 27 May 2020. The main terms for the Rights issue are presented below.

• Persons registered as shareholders on the record date 25 June 2020 will be given one (1) Unit right for every five (5) shares held in the Company. One (1) Unit right will entitle the holder to subscribe for one (1) Unit.
• The Unit rights will be traded on NGM Nordic SME commencing on 29 June 2020 and ending on 10 July 2020.
• After subscription, interim units (the “Interim units”) corresponding to the Units subscribed for on the basis of Unit rights will be registered on the subscriber’s VP account or nominee account.
• The shares and warrants will be entered into the subscriber’s VP account once they have been registered with the Companies Registration Office, tentatively during week 33, 2020.
• Trading in the Interim units is planned commence on NGM Nordic SME on 29 June 2020.
• The record date for the Rights issue is planned to be 25 June 2020 with the last day of trading including the Unit rights on 23 June 2020 and the first day of trading excluding the Unit rights on 24 June 2020.
• The subscription price is SEK 24.00 per Unit. The Subscription period for the Rights issue commences on 29 June and ends on 14 July 2020.
• The subscription price for shares that can be subscribed on the basis of warrants will correspond to the volume weighted average price of the Company’s shares on NGM Nordic SME commencing on 21 September 2020 and ending on 2 October
  2020 with a 30 per cent discount. However, the subscription price shall not be less than SEK 12.00 per share nor higher than SEK 18.00 per share.
• Each warrant entitles the holder to subscribe for one (1) new share during the period 5-16 October 2020.
• The dilution for current shareholders from the Rights issue, upon full subscription, amounts to approximately 28.6 per cent, not taking into account the effect of the Consideration shares. The dilution for current shareholders from
  the warrants, upon full subscription, amounts to approximately 12.5 per cent, not taking into account the effect of the Consideration shares. The dilution for current shareholders not participating in the Rights issue or Warrant
  issue, will be diluted by approximately 37.5 per cent before the effect of the Consideration shares.

Subscription and underwriting commitments

The Rights issue is secured to SEK 23.3 million by subscription commitments of SEK 6.0 million, e.g. from the Company’s CEO, and the remaining part by underwriting commitments. External underwriters are entitled to receive their
underwriting compensation either in cash amounting to ten (10) per cent of underwritten amount, or the equivalence of twelve (12) per cent of the underwritten amount in new shares by setting off the underwriting compensation against the
subscription price in a directed issue to be arranged if needed after the Rights issue.

Indicative timetable

Advisers

Augment Partners AB is acting as financial advisor to the Company in the Rights issue. Bird & Bird Advokat KB is acting as the 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 May 11,
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.

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

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