Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. (“American Manganese” or “AMY” or the “Company”), (TSX.V: AMY | OTC US: AMYZF | FSE: 2AM), is pleased to announce that the Company intends to complete a non-brokered private placement for gross proceeds of up to $2,000,000 by way of a unit offering at a price of $0.24 per unit (the “Offering”). Each unit will consist of one common share and one purchase warrant. Each warrant will be exercisable for one common share at a price of $0.30 per common share for a period of two years from the date of closing of the Offering.
The proceeds will be primarily used for Pilot Plant completion, spin-out of gold/copper assets and rare earth mineral property, as well as for general working capital
All securities issued pursuant to the Offering will be subject to resale restrictions for a period of four months from the closing date. This offering is subject to the approval of the regulatory authorities and finder’s fees may be paid in accordance with the TSX Venture Exchange policies.
About American Manganese Inc.
American Manganese Inc. is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ Patented Process. The process provides high extraction of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum at high purity, with minimal processing steps. American Manganese Inc. aims to commercialize its breakthrough RecycLiCo™ Patented Process and become an industry leader in recycling cathode materials from spent lithium-ion batteries.
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer