American Manganese Inc., (formerly: Rocher Deboule Minerals Corp.) (TSX.V: AMY; OTC US: AMYZF) (the “Company”) is pleased to announce that further to its earlier announced news releases, the Company has closed its non-brokered private placement raising gross proceeds of $1,193,919 comprised of 5,969,595 units (the “Unit”) at a price of $0.20 per Unit.
Each Unit is comprised of one common share in the capital of the Company plus one-half of a two year share purchase warrant (the “Warrant”). Each whole Warrant entitles the holder to purchase one common share at a price of $0.30 per share at any time up to 5:00 pm (Vancouver time) on February 16, 2012. All of the securities issued pursuant to this private placement will have a hold period expiring four months and one day after the closing date.
The proceeds of this private placement will be used toward exploration and infill reverse circulation drilling at the Company’s Artillery Peak Manganese project in Arizona as well as general working capital.
The Company has paid Finder’s fees totaling $59,076 and issued 120,000 broker warrants, in connection with the private placement.
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer