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

Hautalampi is situated at the same site as the well-known Outokumpu copper mine where approximately 28.5m tons of rock with a copper content of 3.8% copper were mined from 1912–1989. The nickel-cobalt-copper orebody in Hautalampi is located parallel and above the exploited copper deposit. Existing surface and underground infrastructure, including a high voltage power line, concrete foundations, and roads, provide significant location advantages to the project. Approximately EUR10m–15m has been invested in Hautalampi by previous owners, including 26,000 m of core drilling, a decline and additional underground mine development works (2,100 m), mineral resource and reserve estimates, multiple mineral processing studies and a feasibility study. The previous investments will enable FinnCobalt Oy and Eurobattery Minerals to push the project forward quickly.

Acquisition opens up additional potential

The Hautalampi mine project is located in the historical mining area of Outokumpu, eastern Finland (see figure 1, appendix). Through the acquisition, Eurobattery Minerals has also obtained two additional reservation notifications for highly prospective grounds in Hietajärvi and Varislahti (see figure 2, appendix). Both prospective areas are located in close proximity to the mining centre in Hautalampi, and both have been found to contain similar rock formations as in Hautalampi, containing nickel, copper and cobalt.

About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on Swedish Nordic Growth Market (BAT) and German Börse Stuttgart (EBM). With the vision to make Europe self-sufficient in responsibly mined battery minerals, the company’s focus is to realize numerous nickel-cobalt-copper projects in Europe to supply critical raw materials and, as such, power a cleaner world.
Please visit Eurobattery Minerals AB for more information. Feel free to follow us on LinkedIn and Twitter as well.

Contact Eurobattery Minerals AB
Roberto García Martínez – CEO
E-mail: info@eurobatteryminerals.com

Contact Investor Relations
Linda Lenz
Phone: +49 (0) 172 834 18 92
E-mail: ir@eurobatteryminerals.com

Mentor
Augment Partners AB is the mentor to Eurobattery Minerals AB: Phone: +46 (0) 86 042 255, e-mail: info@augment.se.

Linda Lenz

"Creativity and perfection are not mutually exclusive, but complementary."

IR Consultant at CROSS ALLIANCE since 2021.
Linda Lenz’s core competencies are public and influencer relations as well as project management.
With a a M.Sc. degree in Strategic Communication and PR and a B.A. in English Studies and Communication and Media Studies, she is fully committed to her clients because she always insists on doing the job right.
4 years of experience in Public Relations and Influencer Relations expertise in the Automotive and Energy Special Supporter ESG industries.

Jens Jüttner

"Designing a customised communication strategy for clients is what drives me. Their success is my reward."

Jens Jüttner has extensive experience in news and business journalism across all presentation formats and channels. As an investor relations consultant, he devotes his energies to the regular communications of listed companies and also provides support with their media relations activities.

Senior Consultant at CROSS ALLIANCE since 2018
BA in Journalism / Banking Officer
Five years as a member of the editorial team of business and investor magazine FOCUS-MONEY
Three years as Head of Department for “Week”
Extensive experience in writing advertorials
Shortlisted for the Alternative Media Prize 2013
Social Media Manager (Chambers of Industry and Commerce) – final project: Development of a hybrid social media campaign for LinkedIn and Twitter for an IR and media agency

T: +49 89 125 09 03 32

Markus Horntrich

"My maxim to ensure optimum performance on all your communications issues: Get up early, give it your all and work hard."

Markus Horntrich is a stock market enthusiast and, as a former editor-in-chief, has extensive experience in financial journalism and a broad network, which he uses as a basis for all aspects of PR/IR communication.

Economics graduate

Self-employed PR/IR consultant and Senior Consultant at CROSS ALLIANCE
Author
19 years at investor magazine DER AKTIONÄR
8 years as editor-in-chief at DER AKTIONÄR

T: +49 89 125 09 03 30
M: +49 170 321 42 26

Michael Lang

"As a former editor-in-chief and full-blooded journalist, a matter particularly close to my heart is ensuring that our clients get noticed in just the right way in the media."

As an experienced business journalist, Michael Lang uses his extensive network in the financial community to give clients the best media relations.

Partner at CROSS ALLIANCE since 2013
Self-employed professional in investor relations since 2010
Head of IR at IBS AG (Prime Standard) for four years
Ten years as a member of the editorial team of financial magazine DER AKTIONÄR (“2010 award for investor magazine of the year”), acting as editor-in-chief and deputy editor-in-chief, in both positions for three years
15 years of experience in financial journalism
Degree in Business Mathematics, Bayreuth University

T: +49 89 125 09 03 34

Susan Hoffmeister

"I support every company with communication just as I do my own. That's my biggest motivation."

Managing Partner Susan Hoffmeister supports listed companies with their investor relations.

Founder & Managing Director of CROSS ALLIANCE communication GmbH
Degree in Business Administration, BA in Finance & Accounting, MBA
Self-employed entrepreneur in investor relations since 2006
Deutsche Börse qualified Supervisory Board member since 2017
Member of the Supervisory Board of LEHNER INVESTMENTS AG
Head of Corporate Communications at Siemens London for five years
Head of IR at various listed companies in the software and IT industry for six years

Extensive IPO experience
T: +49 89 125 09 03 33

Sara Pinto

"My motto is 'Create value through communication'. My international professional background helps me to achieve this. I work with clients to get them the best results."

As an investor relations expert and member of the Cross Alliance team, Sara Pinto places particular emphasis on providing her clients with in-depth consultations and on strategic communication. Her specialist area is sustainability.

Consultant at CROSS ALLIANCE since 2019

MA in Business Administration & Management
Five years as Market Research Manager at FOCUS-MONEY

Extensive experience in B2B sales
Expert in CSR and ESG – contact person for sustainability strategy development, implementation of ESG criteria in corporate communications, and sustainability reporting
Language proficiency: Italian (mother tongue), German, English, Spanish

T: +49 89 125 09 03 35

Sven Pauly

"I develop innovative concepts for our clients, which actively contributes to their success."

Investor relations consultant Sven Pauly has extensive experience in TV news production, and specialises in reporting and regular communications for listed companies.

Senior Consultant at CROSS ALLIANCE since 2016
MA in Corporate Communications/PR
Consultant for investor relations and corporate communications
Extensive experience in capital market consultation
Has held roles in designated sponsoring and public affairs
Over ten years of experience in TV news production

T: +49 89 125 09 03 31