Eurobattery Minerals, a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, has decided to carry out a rights issue of units of approximately SEK 29.3 million and undertaken to carry out a convertible issue of SEK 5.0 million.
The net proceeds from the capital raise are intended to be used for development of the Hautalampi project, repayment of interest-bearing debts, completion of the acquisition of FinnCobalt Oy, and financial flexibility for further operations. The company plans to submit an environmental permit application and complete the feasibility study for the Hautalampi project during 2024.
Augment is acting as financial advisor to Eurobattery Minerals in connection with the transaction.