American Manganese Inc. (“American Manganese” or the “Company”), (TSX.V: AMY; OTC US: AMYZF), announces an increase of its proposed non-brokered private placement to $4,215,689.10 through the issuance of 14,052,297 Units at a price of $0.30 per Unit.
This private placement has been fully subscribed.
Each Unit is comprised of one common share in the capital of the Company plus a two year share purchase warrant (the “Warrant”). Each warrant entitles the holder to purchase one common share at a price of $0.40 for two years from the date of issue.
This private placement could be subject to finders’ fees which will be paid in accordance with the TSX Venture Exchange policies and is subject to the approval of the regulatory authorities.
The proceeds of this private placement will be used towards pre-feasibility, pilot plant, drilling, baseline environmental work and general working capital.
About American Manganese Inc.
American Manganese Inc. is a diversified specialty and critical metal Company focusing on potentially becoming the lowest cost producer of electrolytic manganese from its Arizona Manganese Project.
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer