Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. (“American Manganese” or the “Company”), (TSX.V: AMY; OTC US: AMYZF; FSE: 2AM), is pleased to announce that American Manganese Inc. has entered into an acquisition agreement with MGX Minerals Inc. (MGX) for MGX to acquire the Company’s 100-per-cent interest in 166 contiguous hectares covering a known high-purity silica prospect (the “Koot Claims”). In connection with the acquisition, MGX will issue 100,000 shares to AMY as well as grant the Company and Andris Kikauka (a director of the Company) each a 0.5% net smelter return royalty on any future production.
Mr. Reaugh say that: “The Koot Claims are no longer a core asset, as the Company focuses its attention on advancing emerging opportunities in the electrolytic manganese products sector (electrolytic manganese metal, and electrolytic and chemical manganese dioxide).”
We seek Safe Harbor.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time with the Toronto Stock Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.