Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. (“American Manganese” or “AMY” or the “Company”), (TSX.V: AMY; OTCQB: AMYZF; FSE: 2AM), is pleased to announce that the Company has closed the second and final tranche of its non-brokered private placement of 4,754,487 units of the Company (“Units”), raising gross proceeds of $1,141,077. Each Unit consists of one common share of AMY (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will be exercisable for one Share at a price of $0.30 per Share for the two years following the issuance of the Warrant. All securities issued under this final tranche are subject to a hold period until July 3, 2018. Finder’s fees of $37,907 were paid for this tranche.
The two tranches of this over-subscribed private placement raised aggregate gross proceeds of $2,048,757.
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 July 27, 2017 press release for further details).
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer