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4 April, 2023

Eurobattery Minerals receives approximately SEK 17.4 million through warrant redemption

Stockholm, 4 April 2023 – The mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “EBM”, “Eurobattery” or “the Company”) carried out a rights issue of units with subscription period from 7 December to 21 December 2022 (the “Rights issue”) consisting of shares and warrants of series TO3 (the “Warrants”). Those who subscribed in the Rights issue during the subscription period thereby received for each (1) unit one (1) new share in the Company and one (1) Warrant. Each (1) Warrant entailed the right to subscribe for one (1) new share in Eurobattery at a subscription price of SEK 2.44 per share. The subscription period extended until 31 March 2023 and a total of 7,134,746 Warrants were used for subscription of shares in the Company, corresponding to a subscription rate of approximately 57.1 per cent. The Company will thereby receive proceeds of approximately SEK 17.4 million before issue costs. The issue proceeds will be used for further investments in the Corcel and Hautalampi projects as well as for financial flexibility to enable future potentially interesting M&A possibilities.

Number of shares and share capital
Through the share issue the Company will receive gross proceeds of approximately SEK 17.4 million. The number of shares will increase by 7,134,746 shares, from 26,012,240 shares to 33,146,986 shares, when the new shares are registered by the Swedish Companies Registration Office. The share capital will increase by SEK 7,134,746, from SEK 26,012,240 to SEK 33,146,986, which implies a dilution of approximately 21.5 per cent.

“We are pleased and grateful for the trust bestowed upon us by our shareholders and warrant holders. With the capital we have just raised, we intend to turn vision in to action and continue the successful development of Hautalampi and Corcel, with the end goal to start mining and supplying Europe with ethical and fully traceable battery minerals”, says Roberto García Martínez, CEO of Eurobattery.

Advisers
Augment Partners AB acted as financial adviser and Bird & Bird Advokat KB acted as legal adviser in the transaction.

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