SURREY, BC / ACCESSWIRE / January 11, 2019 / Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. (”American Manganese” or the ”Company”), is pleased to announce that the company is closing a second tranche of the non-brokered private placement for up to 10,000,000 units of the Company (”Units”) at $0.15 per Unit. Each Unit consists of one common share of the Company (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.
The Company has raised gross proceeds of $131,750.10 in this second tranche of the private placement, and all securities issued under this second tranche are subject to a four-month hold period which expires on May 12, 2019. The private placement is subject to final acceptance by the TSX Venture Exchange; conditional acceptance was granted on December 3, 2018.
American Manganese Inc. is a critical metal company with a patent approved process for the recovery of metals from lithium-ion batteries such as cobalt, lithium, nickel, manganese, and aluminum. Using a novel combination of reagents and unit operations, AMY can provide 100% extraction of cathode metals at battery grade purity. American Manganese Inc. aims to capitalize
on its patent approved technology and proprietary know-how to become the industry leader in recycling spent electric vehicle lithium-ion batteries (Please see the Company’s December 14, 2018 Business Plan for further details).
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer
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.