American Manganese Inc. (“AMY” or the “Company”) announces that the Company is closing a second tranche of its non-brokered private placement for $572,333.60 comprised of 2,861,668 units of the Company (“Units”). Each Unit will consist 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.
Finder’s fees payable for this tranche total $5,600 cash. All securities issued under the private placement, including this second tranche, are subject to a four-month hold period.
As previously announced, the Company is conducting the private placement to raise gross proceeds of up to $2,000,000. To date the Company has raised $756,850.45 in the first tranche and $572,333.60 in the second for a total to date of $1,329,184.05.
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