Eurobattery Minerals Secures SEK 60 Million Convertible Bond Facility

Eurobattery Minerals AB has announced a convertible bond issuance agreement with Loft Capital Limited, securing a facility valued at SEK 60 million. The agreement allows the company to draw funds in four tranches of SEK 15 million each, over a 24-month period. The bonds carry no interest and are not listed on any financial market. The company has already drawn the first sub-tranche of SEK 10 million, receiving net proceeds of SEK 9.15 million after fees.

The funds will support the development of Eurobattery's projects, particularly the San Juan tungsten project in Spain and the Hautalampi nickel-cobalt-copper project in Finland. These investments aim to enhance the supply of responsibly sourced European minerals.

Roberto García Martínez, CEO, views this deal as a key step towards production goals, noting favorable market conditions for European tungsten. Loft Capital views this investment as an opportunity to support the advancement of critical minerals supply in Europe.