Eurobattery Minerals receives approximately SEK 22.7 million through warrant redemption

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SWITZERLAND, SINGAPORE, SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL, BE SUBJECT TO LEGAL RESTRICTIONS OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.

During June-July 2020, Eurobattery Minerals AB (publ) (NGM Nordic SME: "BAT"; "the Company") carried out a rights issue of units, consisting of shares and warrants of series 2020:1 (the "Warrants"). Those who subscribed for one (1) unit in the rights issue during the period June 29 to July 14 received one (1) Warrant per subscribed unit. Each Warrant gave the right to subscribe for one (1) new share in Eurobattery Minerals AB. The exercise period for the Warrants ended on October 16 and a total of 1,895,819 Warrants were exercised, corresponding to a subscription rate of approximately 96 per cent. The Company will thereby receive proceeds of approximately SEK 22.7 million before issue costs. The issue proceeds will be used for further feasibility studies for the Corcel and Hautalampi projects, but also to explore the possibilities for new interesting acquisitions of assets in Europe.

Number of shares and share capital

The Company will receive proceeds of approximately SEK 22.7 million before issue costs of approximately SEK 1.2 million. After the new shares have been registered with the Swedish Companies Registration Office, the number of shares in the Company will amount to 15,679,318 and the share capital will amount to SEK 15,679,318.

"We are very happy for the great interest our investors have shown us and for the additional investment we are now being provided. We are committed to be the foundation of the battery value chain in Europe and with this capital injection we are able to accelerate our business strategy and shortening the time for us to become a producer of ethical and fully traceable battery minerals for the electric vehicle industry", says Roberto García Martínez, CEO of Eurobattery Minerals.

Advisers

Augment Partners AB is acting as financial advisor and Bird & Bird Advokat KB is acting as the legal adviser to the Company in connection with the transaction.

For further information, please contact:

Roberto García Martínez, CEO

Email: roberto@eurobatteryminerals.com

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 21 October 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 Finland, Spain and Sweden. The Company has two mining licences 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.

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.