Eurobattery Minerals Closes Acquisition of Finnish Hautalampi Project

Stockholm, 26 July 2024 – Eurobattery Minerals AB has announced the completion of its acquisition of the remaining 30% of FinnCobalt Oy, the owner of the Hautalampi nickel-cobalt-copper project. The consideration includes 28,987,185 newly issued shares and €300,000 in cash. This acquisition brings Eurobattery Minerals' ownership of FinnCobalt to 100%, with a total of 152,232,052 shares in the Company.

CEO Roberto García Martínez expressed satisfaction with the completion of the acquisition process, which began in 2020. Significant progress has been made on the Hautalampi project, including a positive pre-feasibility study and submission of an Environmental Permit Application. These developments position the project for timely commencement of mining operations.

The Hautalampi project is located near Outokumpu, Finland, and benefits from extensive infrastructure and local support. Eurobattery has significantly increased resource tonnage and metal content since assuming the project. The company is also seeking designation as a Strategic Project under the EU Critical Raw Materials Act.