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Rights issue 2025
The rights issue in summary
Subscription period
August 25, 2025 – September 8, 2025 (note that some nominees may close the subscription earlier).
Trading of unit rights
August 25, 2025 – September 3, 2025.
Subscription with preferential rights
Those who are registered as shareholders of Eurobattery in the share register maintained by Euroclear Sweden AB on the record date of August 21, 2025, will recieve one (1) unit right for each share in the Company. One (1) unit right entitles the holder to subscribe for one (1) unit. One (1) unit consists of three (3) shares.
Subscription price
SEK 0.18 per unit, corresponding to SEK 0.06 per share.
Issue proceeds
Upon full subscription in the rights issue, the Company will receive approximately SEK 78.5 million before deduction of issue costs.
Background and motive
Eurobattery Minerals AB (“Eurobattery” or the “Company”) is a mining and exploration company that conducts targeted mineral exploration in Europe. The Company currently has two flagship projects focusing on nickel, cobalt and copper located in the eastern part of Finland and the northwestern part of Spain.
On May 7, 2024, Eurobattery announced that the Company had signed a non-binding letter of intent with Tungsten San Juan S.L. (“TSJ”) concerning an investment in TSJ for an ownership stake of 51 per cent on a fully diluted basis in TSJ. The Company and TSJ have entered into an agreement, on revised terms from the previous letter of intent, concerning a four-tranche investment in TSJ totaling EUR 1.5 million, through which Eurobattery will obtain an ownership stake of 51 per cent on a fully diluted basis in TSJ.
TSJ is a Spanish mining entity located in Ourense, Galicia, Spain, engaging in tungsten production in the San Juan wolfram mine, which has all the necessary licenses and contracts in place to commence mining production, including a letter of intent for an off-take agreement with Wolfram Bergbau und Hütten AG, an Austrian world-leading tungsten producer within the Swedish Sandvik Group.
This strategic investment marks a transformational step for Eurobattery and makes an integral part of the Company’s long-term strategy and vision to contribute to European independence from non-European supply of critical raw materials. The issue proceeds from the Rights Issue, after deduction of transaction costs, are planned to be allocated according to below in order of priority:
- Financing of the initial planned investment in TSJ, approximately 24 percent.
- Commence a drilling campaign in the San Juan wolfram mine to increase the ore reserves for TSJ, approximately 15 percent.
- Increase the TSJ plant capacity from 5 tons ore extraction / hour to 20 tons ore extraction / hour, approximately 15 percent.
- Complete the bankable feasibility study and start basic engineering at the Company’s subsidiary FinnCobalt Oy, approximately 30 percent.
- Working capital expansion intended to hire more experts at TSJ, FinnCobalt Oy and Eurobattery Minerals, approximately 10 percent.
- If deemed appropriate, early repayment of outstanding convertible loan, approximately 6 percent.
Other information
Important information
The information contained in this section of the website of Eurobattery Minerals AB (publ) (the “Company”) is not intended for, and must not be accessed by, or distributed or disseminated, directly or indirectly, in whole or in part, to persons resident or physically present in the United States of America (including its territories and possessions, any state of the United States and the District of Columbia, the “United States”), Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or any other jurisdiction where to do so might constitute a violation of the local securities laws or regulations of such jurisdiction, and does not constitute an offer to sell or the solicitation of an offer to buy or acquire, any ordinary shares or other securities of the Company in the United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or any other jurisdiction where to do so might constitute a violation of the local securities laws or regulations of such jurisdiction.
Any securities of the Company referred to on this website (the “Securities”) have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States absent registration or pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. The Securities have also not been and will also not be registered under the applicable securities laws of Australia, Canada, Hong Kong, Japan, New Zealand, Singapore or South Africa and, subject to certain exemptions, may not be offered or sold in or into or for the account or benefit of any person having a registered address in, or located or resident in, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore or South Africa. There will be no public offer of the Securities in the United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore or South Africa.
Access to the information and documents contained on the following web pages may be illegal in certain jurisdictions, and only certain categories of persons may be authorised to access such information and documents. All persons residing outside of Sweden who wish to have access to the documents contained on this website should first ensure that they are not subject to local laws or regulations that prohibit or restrict their right to access this website or require registration or approval for any acquisition of Securities by them. No such registration or approval has been obtained outside Sweden. The Company assumes no responsibility if there is a violation of applicable law and regulations by any person.
I therefore certify that:
- I am resident and physically present outside the United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore and South Africa; and
- I am resident and physically present (a) in Sweden or (b) outside Sweden and each of the jurisdictions referred to in clause (1) above and, in that case, I am authorized to access the information and documents on this website without being subject to any legal restriction and without any further action required by the Company.