Eurobattery Minerals Announces Rights and Convertible Issues

Eurobattery Minerals AB has decided on a rights issue of 50,744,017 units to raise approximately SEK 35.5 million. The subscription period runs from 30 October to 13 November 2024. One unit comprises seven shares and four series TO6 warrants, priced at SEK 0.70 per unit.

Additionally, the Extraordinary General Meeting on 16 October 2024 will decide on an over-allotment issue of SEK 10.0 million and a new convertible loan of SEK 4.0 million to replace an existing SEK 5.0 million loan. The company has also secured a SEK 5.0 million bridge loan.

Proceeds from these initiatives will fund a feasibility study for the Hautalampi project, debt repayment, and working capital. The rights issue enjoys subscription and underwriting commitments covering approximately 60% of the total amount.