DGAP-News: Eurobattery Minerals AB
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Significant stake acquisition: Eurobattery Minerals purchases 40% of Finnish Hautalampi battery mineral mine project Stockholm, 31 May 2022 – The mining company Eurobattery Minerals AB (Nordic Growth Market: BAT and Börse Stuttgart: EBM; in short: “EBM”, “Eurobattery” or “the company”), today announced the purchase of a 40% stake in FinnCobalt Oy, which owns the ground and all mining rights of the Finnish Hautalampi nickel-cobalt-copper project. This is the first time Eurobattery Minerals has exercised its option to acquire 100% of the shares in FinnCobalt Oy in a staged process. The acquisition plays a significant role in the development of the company and in achieving its goal to establish a battery mineral mine followed by production and sales of critical battery minerals starting in 2023. As announced about two years ago, Eurobattery Minerals plans to acquire 100% of the shares in FinnCobalt by 2024 at the latest. “I am proud and pleased to share the news about our first step in achieving our goal of acquiring 100% of the battery mineral mine project in Hautalampi. Today we are one big step closer to our goal of providing responsibly mined battery minerals from Europe to the European automotive and clean energy markets,” said Roberto García Martínez, CEO of Eurobattery Minerals AB. Financial details of acquisition The board of directors of Eurobattery Minerals has informed the founders of FinnCobalt Oy that they will exercise the first option to the contract that became effective on 27 May 2020, so that in the next 60 days before 27 July 2022 Eurobattery Minerals would make said option effective by paying in corresponding cash: EUR 250,000 as stipulated in the contract and a subscription of EUR 1,000,000 in EBM shares to the three founders. These two actions will be taken parallelly and simultaneously. Hautalampi will be built on already existing mining infrastructure Acquisition opens up additional potential
Contact Eurobattery Minerals AB Additional features: File: 20220531_BAT_Appendix_40 Percent Acquisition_EN
31.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Eurobattery Minerals AB |
114 56 Stockholm | |
Sweden | |
Phone: | +49 151 6568 0361 |
E-mail: | info@eurobatteryminerals.com |
Internet: | www.eurobatteryminerals.com |
EQS News ID: | 1364401 |
End of News | DGAP News Service |
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1364401 31.05.2022