Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. (“American Manganese” or “AMI” or the “Company”), (TSX.V: AMY; OTC US: AMYZF; FSE: 2AM), is pleased to announce that the Company has closed the second and final tranche of the non-brokered private placement for $131,120 comprised of 728,444 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 $0.25 per Share for the two years following the issuance of the Warrant. All securities issued under the private placement, including this final tranche, are subject to a four-month hold period. Finder’s fees of $1,584 and 8,800 Warrants were issued to Haywood Securities Inc.
The Company has raise gross proceeds of $248,160 through this private placement.
About American Manganese Inc.
American Manganese Inc. is a diversified specialty and critical metal company focused on capitalizing on its patented intellectual property through low cost production or 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 and industry leader in the recycling of spent electric vehicle lithium ion batteries having cathode chemistries such as: Lithium-Cobalt, Lithium-Cobalt-Nickel-Manganese, and Lithium-Manganese (Please see the Company’s January 27, 2017 press release for further details).
The company has updated their PowerPoint which can be viewed here.
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer