Highlights:
The European Bank for Reconstruction and Development ("EBRD") has agreed to investCAD$8.5 million to support EMN's development of theChvaletice Manganese Project - The ERBD’s investment and relationship will be beneficial to the Company as the
Chvaletice Manganese Project moves through development, project financing, and into production - As part of its due diligence, the EBRD engaged an independent, international natural resources consultancy to conduct a technical and environmental review of the
Chvaletice Manganese Project - The EBRD is owned by the
European Union ,European Investment Bank and 71 countries, including theCzech Republic
As part of the due diligence process, the EBRD engaged an independent, international natural resources consultancy to undertake a technical and environmental review of the
The Company’s relationship with the EBRD is expected to be highly strategic as the
The investment is to be affected by way of a private placement of 17,800,000 common shares of the Company to be issued to EBRD at a price of
The proceeds from the Placement will increase the Company’s flexibility in financing the
The agreement between EBRD and
EMN’s new President & CEO, Dr.
“The Company welcomes this strategic investment, which aligns the Company’s interest with the EBRD and opens a pathway to potentially securing project financing from the EBRD and other European financial institutions. The successful completion of the technical and environmental due diligence process is a testament to the quality of our team and a strong vote of confidence in our
“The EBRD investment is an affirmation that EMN’s
Mr.
"EBRD is delighted to support
The Placement is subject to normal and customary conditions precedent for a transaction of this nature, including the acceptance of the
About
About the
The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in almost 40 economies across three continents. The Bank is owned by 71 countries, including the
Authorized for release by the CEO of
Neither
Contact: | ||
Dr. President & CEO +44 747 229 66 88 | Vice President, Corporate Development & Corporate Secretary + 1-604-681-1010 ext. 105 | |
Media inquiries: Director of Communications +1-604-781-2199 |
E-mail: info@mn25.ca
Website: www.mn25.ca
Company Address:
#709 -700 West Pender St.,
Forward-Looking Statements
Certain statements in this news release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such forward-looking information or statements include, without limitation, statements regarding the completion of the Placement, including receipt of TSXV approval for the Placement, the use of proceeds of the Placement, the payment of the finder’s fee to EIT InnoEnergy upon completion of the Placement, the Company’s continued compliance with the EBRD’s environmental, social, economic inclusion and equal opportunities standards, the strategic investment by EBRD opening a pathway to potentially securing project financing from the EBRD and other European financial institutions, the Company’s commitment to implement best practices for modern, responsible resource development, regulatory/permitting progress at the Project; land access for the Project; the completion and timing of the definitive feasibility study; the timing, installation of the delivery and operation of the Demonstration Plant; the Company’s ability to negotiate offtake agreements with potential customers; the evaluation and development of any new business opportunities; and the Company’s ability to finance the full-scale, commercial development of the Project. Further, it should be noted that no production decision has been made with respect to the Project and that such a decision will only be made based on completion of a positive feasibility study, permitting and financing having been secured.
Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to, the factors discussed under “Risks Notice” and elsewhere in the Company’s MD&A, as well as the inability to obtain regulatory approvals in a timely manner; the potential for unknown or unexpected events to cause contractual conditions to not be satisfied; unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the Company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.
Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors set forth in the “Risks Notice” section and elsewhere in the Company’s MD&A for the year ended
Source:
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