Vancouver, British Columbia--(Newsfile Corp. - May 12, 2025) - Euro Manganese Inc. (TSXV: EMN) (ASX: EMN) (OTC Pink: EUMNF) (FSE: E060) (the "Company" or "Euro Manganese") is pleased to announce that it has appointed Ms. Martina Blahova as permanent President and Chief Executive Officer ("CEO") effective May 12, 2025 and will appoint Ms. Blahova to the Company's Board of Directors (the "Board"). Ms. Blahova's appointment to the Board will not take effect until she has obtained a director identification number from the Australian Business Registry Services.
Ms. Blahova was appointed as Interim CEO in November 2024. After assessing Ms. Blahova's considerable contributions as Interim CEO and her depth of experience at Euro Manganese and at other companies, the Board determined that she is the best-qualified individual to continue to advance the Company's strategy and execute on the development of the Chvaletice Manganese Project (the "Project").
Martina Blahova, President and CEO of Euro Manganese commented, "I am honoured to be appointed CEO during this transformative period for both Euro Manganese and the European battery materials industry. In recent months, we've secured critical government designations, made significant progress on measures to strengthen our financial position, and validated the Project's strategic relevance to Europe's decarbonization goals. I am incredibly proud of our team's achievements and excited to build long-term value for our stakeholders as we advance our vision of providing a resilient, local, and sustainable supply of high-purity manganese."
Mr. Rick Anthon, Chairman of the Board, added, "Martina has been instrumental in advancing Euro Manganese's mission to become Europe's leading producer of high-purity manganese. As Interim CEO, she demonstrated a clear vision, deep strategic insight, and steady leadership, which are qualities that have helped position the Chvaletice Manganese Project at the heart of Europe's clean energy transition. Following a robust period of progress under her guidance, the Board is pleased to confirm her appointment as CEO and looks forward to working with her as we move to the next phase of growth."
Since joining Euro Manganese in 2018, Ms. Blahova has held various senior leadership roles including Chief Financial Officer and Interim CEO, helping guide the company through significant project development milestones and operational transformation. As CEO, she will continue to focus on advancing the Company's long-term growth strategy, delivering value to shareholders, and fostering a culture of excellence.
About Martina Blahova
Ms. Blahova has served as the Chief Financial Officer of the Company since January 2020, and Interim CEO since November 2024. She has extensive financial and leadership experience gained from working in Canada, the Czech Republic, and in the UK. Her full bio is available here.
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 an early-stage 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.
Authorized for release by the Chairman of Euro Manganese Inc.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) or the ASX accepts responsibility for the adequacy or accuracy of this release.
Enquiries
LodeRock Advisors
Neil Weber
Investor and Media Relations - North America
+1 (647) 222-0574 neil.weber@loderockadvisors.com
Jane Morgan Management
Jane Morgan
Investor and Media Relations - Australia
+61 (0) 405 555 618
jm@janemorganmanagement.com.au
Company Address: #709 -700 West Pender St., Vancouver, British Columbia, Canada, V6C 1G8
Website: www.mn25.ca
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Forward-Looking Statements
Certain statements in this news release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company, its Chvaletice Project, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-Looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company.
Forward-Looking statements include statements regarding director appointment process and any expected outcome and ability to navigate current market conditions. All forward-looking statements are made based on the Company's current beliefs including various assumptions made by the Company, including that the Chvaletice Project will be developed and operate as planned, the Company will obtain sufficient financing, and that the Company will be able to meet the conditions of its secured financing. Factors that could cause actual results or events to differ materially from current expectations include, among other things: insufficient working capital; inability to meet the conditions of its secured financing, risks due to granting security, lack of availability of financing for developing and advancing the Chvaletice Project; the potential for unknown or unexpected events to cause contractual conditions to not be satisfied; developments in EV (Electric Vehicles) battery markets and chemistries; risks related to fluctuations in currency exchange rates; and regulation and changes in laws by various governmental agencies. For a further discussion of risks relevant to the Company, see "Risk Factors" in the Company's annual information form for the year ended September 30, 2024, available on the Company's SEDAR+ profile at www.sedarplus.ca.
Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
Appendix A
Summary of Material Contract Terms for Incoming Chief Executive Officer
In accordance with ASX Listing Rule 3.16.4, the following are the material terms of the employment agreement with Ms. Martina Blahova for the role of Chief Executive Officer of Euro Manganese Inc. ("EMN"), which was entered into effective May 12, 2025.
The key remuneration and contract terms related to Ms. Blahova's employment agreement are set out below:
| Effective Date: | May 12, 2025 |
| Term: | Permanent CEO |
Fixed Annual Remuneration (FAR): | CAD$450,000 per annum, to be taken as cash. |
| Incentives: | |
| Short Term Incentive Plan (STIP): | Ms. Blahova is eligible for a short term incentive plan of up to 75% of her FAR based on the achievement of certain corporate and individual performance targets, payable as a cash bonus. Board has discretion to amend STIP performance targets and payment schedule upon certain events and/or transactions, including in the event of change in control. Annual awards under STIP are subject to Ms. Blahova's individual performance (achievements and conduct) and EMN and Ms. Blahova achieving Board-approved targets. |
| Service Bonus | Ms. Blahova will be entitled to receive a service bonus equal to 12 months of her FAR payable upon the occurrence of a change in control of the Company and/or its subsidiary as a retention bonus. This payment is not connected with any actual or potential termination of Ms. Blahova's Employment Agreement. A change of control for this purpose includes 40% change in ownership or voting power of the Company and/or its subsidiary. |
| Long Term Incentive Plan (LTIP): | The form of Ms. Blahova's participation in EMN's LTIP is by way of Stock Option Plan and Board approval. Stock options granted to Ms. Blahova can range from 0% - 100% of the target LTIP opportunity, based upon the achievement of corporate and individual performance targets. Ms. Blahova's annual performance is measured against corporate and individual performance objectives, the weighting of each being dependent upon her role in the organization and relative influence over corporate performance objectives. Any future stock option grants to Ms. Blahova are expected to have an expiry of 10 years, and the vesting schedule will be 1/3 of the stock option grant will immediately, 1/3 will vest on the first anniversary of the date of the grant, and 1/3 will vest on the second anniversary of the date of the grant, all subject to the Board's discretion |
| Termination Provisions: | |
Resignation by Ms. Blahova | Ms. Blahova may terminate her employment at any time by giving EMN not less than six weeks' written notice. |
Termination by EMN with Notice | The Company may terminate Ms. Blahova's employment at any time with 12 months severance. Additionally, upon a termination without cause, all unvested stock options shall vest. |
| Termination by EMN Without Notice | Upon the Company's termination of Ms. Blahova's employment for cause, Ms. Blahova shall not be entitled to reasonable written notice of termination or pay in lieu of notice of termination, or any other compensation or damages for severance. |
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251597
