27 May, 2020
Eurobattery Minerals closes the investment and shareholders agreement regarding the option to acquire the Hautalampi Nickel-Cobalt-Copper mine
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
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