American Manganese Inc. (“AMY” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement for gross proceeds of up to $80,000 by way of a flow-through unit offering at a price of $0.20 per unit (the “Offering”). Each unit will consist of one flow-through common share of AMY and one 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 used to fund exploration of the Company’s Canadian mineral properties.
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 finders’ fees may be paid in accordance with the TSX Venture Exchange policies.
About American Manganese Inc.
American Manganese Inc. is a critical metal company with a patented 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 patented technology and proprietary know-how to become the industry leader in recycling spent electric vehicle lithium-ion batteries (Please see the Company’s Dec 14, 2018 Business Plan (“CBP”) for further details).
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer