Eurobattery Minerals Receives SEK 5.1 Million from Warrant Redemption

Stockholm, 22 May 2024 - Eurobattery Minerals AB announced the successful completion of its rights issue subscription period, resulting in approximately SEK 5.1 million in proceeds. The subscription period for warrants of series TO4 ran from 7 May to 21 May 2024, with 12,776,891 warrants exercised, reflecting a subscription rate of 38.4%. These funds will be allocated towards finalizing the acquisition of FinnCobalt Oy and continued efforts in the Hautalampi battery minerals project in Finland.

As a result of this capital increase, the number of shares in Eurobattery Minerals will rise from 103,131,838 to 115,908,729, corresponding to a share capital increase from SEK 41,252,735.20 to SEK 46,363,491.60. This represents an 11% dilution.

The exercise period for warrants of series TO5 will be from 7 October to 18 October 2024. Each warrant entitles the holder to subscribe for one new share at 70% of the volume-weighted average price between 20 September and 3 October 2024, with a price floor of SEK 0.40 and a ceiling of SEK 0.52 per share.

Augment Partners AB and Advokatfirman Schjødt served as financial and legal advisers, respectively, for this transaction.