Eurobattery Minerals AB Sets Warrant Exercise Price at SEK 0.40

Stockholm-based mining company Eurobattery Minerals AB has announced the terms for the exercise of its series TO4 warrants. Each warrant allows the holder to subscribe for one new share in the company at a price of SEK 0.40. This exercise period is set to commence on 7 May 2024 and will continue until 21 May 2024. This move is part of the rights issue which includes both series TO4 and TO5 warrants, initially offered in January 2024.

The funds raised from these exercises are earmarked for the completion of the acquisition of FinnCobalt Oy and the ongoing development of the Hautalampi battery minerals mine project in Finland. Upon full subscription of the TO4 warrants, which total 33,268,890, Eurobattery’s share count will increase from 103,131,838 to 136,400,728, reflecting a capital increase to SEK 54,560,291.20 from SEK 41,252,735.20.

This decision impacts all existing investors who do not exercise their warrants, potentially causing a dilution of approximately 24.4%. The results from this warrant exercise are scheduled to be publicly available on 23 May 2024.