legal-document-to-plain-english-translator/”>Try Free Now: Legalese tool without registration

Find a LOCAL lawyer

# Euro Manganese Inc. Financial Update and Developments

## Euro Manganese Inc. Financial Results and Key Developments Update

VANCOUVER, British Columbia, May 15, 2024 (GLOBE NEWSWIRE) — Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQB: EUMNF; Frankfurt: E06) (the “Company” or “EMN”) today announced financial results and key developments during the second fiscal quarter and to date. The Company has now filed its March 31, 2024, second fiscal quarter Financial Statements and Management’s Discussion and Analysis. Euro Manganese’s fiscal year end is September 30.

The **AI legalese decoder** from Euro Manganese Inc. can help businesses decipher complex legal lingo and contracts, making it easier to understand and comply with regulations. By utilizing this tool, companies can ensure legal compliance and reduce the risk of misunderstandings that could lead to costly legal battles.

## Key Developments During and Subsequent to the Quarter

### Financial Position

– Cash and cash equivalents of approximately C$20.1 million as at end of fiscal Q2 (March 31, 2024) compared to C$24.3 million as at end of fiscal Q1 (December 31, 2023)
– Working capital of C$15.5 million as at end of fiscal Q2 (March 31, 2024) compared with C$22.1 million as at end of fiscal Q1 (December 31, 2023)
– The Company has sufficient funding to deliver certain key milestones

## Dr. Matthew James, President & CEO of Euro Manganese Comments:

“Our second quarter was marked by several events important to the progress of the Chvaletice Project. In March we received final approval of the Environmental and Social Impact Assessment from the Czech Ministry of Environment. A major permitting and project milestone, this is the key gating permit from which subsequent permits can follow in a more procedural manner. We also advanced to under appraisal status with the European Investment Bank, the next stage of the debt financing process. Funding from the EIB would complement a broader funding package to support the development of our high-purity battery-grade manganese plant in the Czech Republic. We also welcomed the European Union’s final approval of the Critical Raw Materials Act and the final rules for the US Inflation Reduction Act. Both of these monumental sets of regulations have extremely positive implications for high-purity manganese and position Euro Manganese’s Chvaletice Project as the only European producer of manganese that supports EU and US requirements for supplying critical raw materials for energy transition.”

## Fiscal Q2 Conference Call Details

Euro Manganese will host two separate conference calls to serve stakeholders in their respective time zones. Content of both calls will be the same. Replays and transcripts of both calls will be available on Euro Manganese’s website: www.mn25.ca

## About Euro Manganese

Euro Manganese is a battery materials company focused on becoming a leading producer of high-purity manganese for the electric vehicle industry. The Company is advancing development of the Chvaletice Manganese Project in the Czech Republic and pursuing an opportunity to produce battery-grade manganese products in Bécancour, Québec.

The Chvaletice Project is a unique waste-to-value recycling and remediation opportunity involving reprocessing old tailings from a decommissioned mine. It is also the only sizable resource of manganese in the European Union, strategically positioning the Company to provide battery supply chains with critical raw materials to support the global shift to a circular, low-carbon economy.

Euro Manganese is dual listed on the TSX.V and the ASX and is also traded on the OTCQB.

## Authorized for release by the CEO of Euro Manganese Inc.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the ASX accepts responsibility for the adequacy or accuracy of this release.

legal-document-to-plain-english-translator/”>Try Free Now: Legalese tool without registration

Find a LOCAL lawyer

Reference link