Euro Manganese (ASX:EMN) said that following shareholder approval at its annual general meeting, it expects to close its CA$11.2 million financing early in the week of May 26, according to a Thursday filing with the Australian bourse.
The financing includes a CA$9.8 million private placement of common shares and CHESS Depositary Interests (CDIs), and a CA$1.4 million share purchase plan with eligible shareholders, the filing said.
Quotation of the new CDIs on the Australian Securities Exchange is to follow on or around May 27, the filing added.
Shares of the company fell 16% in recent Thursday trade.
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