American Manganese Inc. Closes First Tranche of Non-Brokered Private Placement
SURREY, BC / ACCESSWIRE / December 4, 2018 / Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. ("American Manganese" or "AMI" or the "Company"), (TSX.V: AMY; Pink Sheets: AMYZF; Frankfurt: 2AM), is pleased to announce that the company has received conditional acceptance to close a first tranche of the non-brokered private placement for $507,450 comprised of 3,382,999 units of the Company ("Units"). Each Unit will consist of one common share of AMI (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant will be exercisable for one Share at a price of $0.20 per Share for the two years following the issuance of the Warrant. All securities issued under this first tranche are subject to a four-month hold period which expires on April 5, 2019.
As previously announced, the Company is conducting the private placement to raise gross proceeds of up to $1,500,000.
American Manganese Inc. is a diversified specialty and critical metal company focused on capitalizing on its patented intellectual property through low cost production and recovery of electrolytic manganese products throughout the world, and recycling of spent electric vehicle lithium ion rechargeable batteries.
Interest in the Company's patented process has adjusted the focus of American Manganese Inc. toward the examination of applying its patented technology for other purposes and materials. American Manganese Inc. aims to capitalize on its patented technology and proprietary know-how to become the industry leader in recycling spent electric vehicle lithium ion batteries and recovering 100% of the cathode metals such as: Lithium-Cobalt, Lithium-Cobalt-Nickel-Manganese, Lithium-Cobalt-Aluminum and Lithium-Manganese (Please see the Company's July 25, 2018 Business Plan for further details).
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer
Information Contacts:
Larry W. Reaugh
President and Chief Executive Officer
Telephone: 778 574 4444
Email: lreaugh@amymn.com
Check out our financing on the Stockhouse Deal Room
https://americanmanganeseinc.com/deal-room
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward –looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
SOURCE: American Manganese Inc.