Eurobattery Minerals Opts For A SEK 29.3M Rights Issue, Commits To A SEK 5.0M Convertible Offering, And Secures Bridge Financing For Operational Support (News With Additional Features)

EQS-Media / 22.11.2023 / 08:50 CET/CEST

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Stockholm, 22
November 2023 - The Board of Directors of Eurobattery Minerals AB ("Eurobattery" or the "Company"), listed on Nordic Growth Market (BAT) and Börse Stuttgart (EBM), has announced plans, subject to the approval of the Extraordinary General Meeting on 27
December 2023, for a strategic financial initiative comprising a rights issue, convertible issue, and securing bridge financing.

Rights Issue Details

The Company will undertake a rights issue, targeting a maximum of 36,594,058
units. Each unit comprises two shares, one warrant of series TO4, and one warrant of series TO5. The subscription price is SEK
0.80 per unit, with the potential to raise approximately SEK
29.3 million before issue costs. Existing shareholders will receive one unit right for each held share, allowing subscription for one unit. The subscription period runs from the 8th of January 2024 to the 22nd of January 2024.

Convertible Issue and Bridge Financing

In connection with the rights issue, Eurobattery will repay an outstanding convertible loan of SEK
10.0 million and issue a new SEK
5.0 million convertible loan to Formue Nord Fokus A/S. The Company has also secured SEK
5.0 million in bridge financing, repayable upon the registration of new shares from the rights issue.

Intended Use of Funds

The proceeds from these initiatives are earmarked for several strategic purposes, including the development of the Hautalampi project, debt repayment, the completion of FinnCobalt acquisition, and financial flexibility for operations through 2024.

Rationale Behind the Initiatives

Eurobattery is a mining and exploration company focusing on mineral exploration for materials vital to electrification. Recent advancements include increased ownership in FinnCobalt's Hautalampi project, achieving crucial milestones like a Preliminary Feasibility Study (PFS) and an approved Environmental Impact Assessment.

The PFS for Hautalampi projects promising economics with an anticipated payback period of 4.6
years and 12
years of mining operations. The Company aims to accelerate Hautalampi's development by seeking an environmental permit, finalizing feasibility studies, and securing off-take agreements to commence construction and operations by 2026.

Attachment

The complete report regarding the capital raise initiatives is available as a PDF document. Please find the detailed report attached below.

About Eurobattery Minerals

Eurobattery Minerals AB is a Swedish mining company listed on Swedish Nordic Growth Market (BAT ) and German Börse Stuttgart (EBM ). With the vision to make Europe self-sufficient in responsibly mined battery minerals, the company's focus is to realize numerous nickel-cobalt-copper projects in Europe to supply critical raw materials and, as such, power a cleaner world.

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Contact Eurobattery Minerals AB

Roberto García Martínez – CEO

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Mentor

Augment Partners AB is the mentor to Eurobattery Minerals AB

Phone: +46 (0) 86 042
255

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