Euro Manganese focuses on the development of the mine in the Czech Republic

Canadian Euro Manganese Inc. (TSX-V / ASX: EMN) has announced a non-brokered private placement of 8,738,312 common shares and 401,888 CHESS Depositary Interests (“CDIs”), at a price of canadian $0.11 per share or american $0.13 per CDI, for aggregate gross proceeds of approximately $1,005,300. Net proceeds of the offering will be used by the company to further advance its Chvaletice Manganese Project in the Czech Republic, including advancing the feasibility study and preparation of the Environmental Impact Assessment submission, and for other general corporate purposes.

The offering is intended to close in two or more tranches with the first tranche, comprising of 4,477,170 shares and 227,273 CDIs for aggregate gross proceeds of C$517,489, expected to close on or about April 3, 2020. The second tranche of the offering, consisting of subscriptions by related parties of the company (consisting of directors of the Company and companies controlled by directors of the company) of 4,261,142 shares at a price of C$0.11 per share and 174,615 CDIs at a price of A$0.13 per CDI for aggregate gross proceeds of C$487,780, is expected to close on or about May 5, 2020, subject to and following approval by the Company’s shareholders as required by Listing Rule 10.11.5 of the Australian Securities Exchange. The company expects to call and hold a special meeting of shareholders of the company in early May 2020 to approve the issuance of shares and CDIs under the Related Parties Tranche. The offering is subject to the approval of the TSX Venture Exchange.

About Euro Manganese:
Euro Manganese Inc. is a Canadian mineral resource company focused on the development of the Chvaletice Manganese Project in the Czech Republic.  The Project will recycle historic mine tailings that host Europe’s largest manganese deposit and result in an environmental remediation of this site. The European Union is emerging as a major electric vehicle manufacturing hub. Euro Manganese’s goal is to become the preferred supplier of sustainably-produced ultra-high-purity manganese products for the lithium-ion battery industry and for producers of specialty steel, high-technology chemicals and aluminum alloys.

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