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22 May, 2024

Eurobattery Minerals receives approximately SEK 5.1 million through warrant redemption

Stockholm, 22 May 2024 – The mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “Eurobattery Minerals” or the “Company”) carried out a rights issue of units with subscription period from 8 January to 22 January 2024, consisting of shares and warrants of series TO4 and TO5 (the “Rights issue”). Those who subscribed in the Rights issue during the subscription period thereby received for each (1) unit two (2) new shares in the Company and one (1) warrant of series TO4 (the “Warrant of series TO4”) as well as one (1) warrant of series TO5. Each (1) Warrant of series TO4 entailed the right to subscribe for one (1) new share in Eurobattery Minerals at a subscription price of SEK 0.40 per share. The subscription period for Warrants of series TO4 commenced on 7 May and extended until 21 May 2024, and a total of 12,776,891 Warrants of series TO4 were used for subscription of shares in the Company, corresponding to a subscription rate of approximately 38.4 per cent. The Company will thereby receive proceeds of approximately SEK 5.1 million before set-off of approximately SEK 1.0 million and issue costs. The issue proceeds are intended to be used to finalise the acquisition of FinnCobalt Oy as well as for continued work in the Finnish Hautalampi battery minerals project.

Number of shares and share capital
Through the new share issue the Company will receive gross proceeds of approximately SEK 5.1 million, before set-off of approximately SEK 1.0 million and issue costs. The number of shares will increase by 12,776,891 shares, from 103,131,838 shares to 115,908,729 shares, when the new shares are registered by the Swedish Companies Registration Office. The share capital will increase by SEK 5,110,756.40, from SEK 41,252,735.20 to SEK 46,363,491.60, which implies a dilution of approximately 11.0 per cent.

Warrants of series TO5
Each one (1) warrant of series TO5 will entitle the holder to subscribe for one (1) new share during the exercise period commencing on 7 October and ending on 18 October 2024, at a price corresponding to 70 per cent of the volume-weighted average price of the Company’s share during the ten trading days between 20 September and 3 October 2024, but not less than SEK 0.40 per share and no more than SEK 0.52 per share.

Augment Partners AB acted as financial adviser and Advokatfirman Schjødt acted as legal adviser in the transaction.

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