VANCOUVER, British Columbia, June 15, 2021 (GLOBE NEWSWIRE) -- Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF) (the "Company" or "EMN") is pleased to announce that effective today, the Company's common shares will begin trading on the OTCQX Best Market ("OTCQX") under the symbol "EUMNF". The OTCQX is the highest market tier operated by the OTC Markets Group Inc. on which approximately 11,000 U.S. and global securities trade. Trading on OTCQX will enhance the visibility and accessibility of the Company to U.S. investors. The Company's shares will continue to trade on the TSX Venture Exchange (TSXV) and Australian Securities Exchange (ASX) under the symbol EMN, and on the Frankfurt Stock Exchange under the symbol EO6.
EMN has joined the U.S.-based OTCQX market in response to growing U.S. investor interest in EMN and its Chvaletice Manganese Project.
"Over the past eight months we have witnessed a transformation in the global automotive industry, as carmakers accelerate their transition to battery electric vehicles," says Euro Manganese CEO, Marco Romero. "Without raw materials, there are no batteries. High-purity manganese is an essential battery metal. By joining the OTCQX, we are making it easier for U.S. investors to gain exposure to this growing sector, enabling them to more easily trade in our shares."
The Company is currently focused on three main activities as it advances its proposed Chvaletice Manganese Project: fabrication, construction and commissioning of a demonstration plant; completion of a definitive feasibility study; and completion of a final Environmental Impact Assessment for submission to permitting authorities, all targeted for the first quarter of 2022. The Company's goal is to arrive at a final investment decision in 2022, followed by the arrangement of project financing and start of construction, with plant start-up, commissioning and commercial production projected for late 2024 or early 2025.
The OTCQX provides value and convenience to U.S. investors, brokers and institutions seeking to trade EUMNF. To be eligible for trading on OTCQX, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction. The Company is in the process of obtaining Depository Trust Company.
McMillan LLP acted as the Company's OTCQX sponsor. Euro Manganese has also appointed Stifel, Nicolaus & Company, Incorporated as its financial advisor in connection with the upgrade to OTCQX.
About Euro Manganese Inc.
Euro Manganese Inc. is a battery materials company whose principal focus is advancing the development of the Chvaletice Manganese Project, in which it holds a 100% interest. The proposed Project entails re-processing a significant manganese deposit hosted in mine tailings from a decommissioned mine, strategically located in the Czech Republic. The Company's goal is to become a leading, competitive and environmentally superior primary producer of ultra-high-purity Manganese Products in the heart of Europe, serving the lithium-ion battery industry, as well as other high-technology applications.
Authorized for release by the CEO of Euro Manganese Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the ASX accepts responsibility for the adequacy or accuracy of this release.
| Contact: | ||
| Euro Manganese Inc. | ||
| Marco A. Romero | Fausto Taddei | |
| President & CEO | Vice President, Corporate Development | |
| +604-681-1010 ext. 101 | & Corporate Secretary | |
| +604-681-1010 ext. 105 | ||
| Media inquiries: | ||
| Ron Shewchuk | ||
| Director of Communications | ||
| -2376 | ||
| E-mail: info@mn25.ca (mailto:info@mn25.ca) | ||
| Website: www.mn25.ca (http://www.mn25.ca) | ||
| Company Address: | ||
| #709 -700 West Pender St. | ||
| Vancouver, British Columbia, Canada, V6C 1G8 |
Forward-Looking Statements
Certain statements in this news release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking information or statements relate to future events or future performance about the Company and its business and operations, which include, without limitation, statements with respect to the continued development of the Project, statements regarding the regulatory/permitting progress at the Project, the timing of the delivery and operation of the demonstration plant, the completion and timing of the definitive feasibility study, and the Company's ability to finance the full-scale, commercial development of the Project. Further, it should be noted that no production decision has been made with respect to the Project and that such a decision will only be made based on completion of a positive feasibility study, permitting and financing having been secured.
Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to, the factors discussed under "Risks Notice" and elsewhere in the Company's MD&A, as well as the inability to obtain regulatory approvals in a timely manner; the potential for unknown or unexpected events to cause contractual conditions to not be satisfied; unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the Company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.
Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors set forth in the "Risks Notice" section and elsewhere in the Company's MD&A for the year ended September 30, 2020 and its Annual Information Form.
