American Manganese Inc. (“American Manganese” or the “Company”), (TSX.V: AMY; Pink Sheets: AMYZF; Frankfurt: 2AM), announces the Company is raising by way of non-brokered private placement up to $500,000 through the issuance of up to 10,000,000 units (“Units”) at a price of $0.05 per Unit.
Each Unit is comprised of one common share in the capital of the Company (a “Share”) plus a two year share purchase warrant (a “Warrant”).
Each Warrant entitles the holder to purchase one Share at a price of $0.10 two years from the date of issuance, subject to accelerated exercise if the Shares trade at $0.15 per Share for 20 consecutive days.
This private placement is subject to the approval of the regulatory authorities and finders’ fees may be paid in accordance with the TSX Venture Exchange policies.
About American Manganese Inc.
American Manganese Inc. is a diversified specialty and critical metal Company focusing on potentially becoming a producer of high purity EMD and CMD for the battery industry.
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer