Manganese X Energy Corp. Announces Increase of Private Placement to $1,425,000
Montreal, January 31, 2017 - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (OTC: SNCGF) (the "Company") is pleased to announce that in consultation with First Republic Capital Corporation, lead finder to the financing, the Company has expanded its non-private placement financing (the "Offering") as previously announced on January 13, 2017, from $1,200,000 to $1,425,000, of which $974,050.05 has already closed. The Company closed an initial tranche of the Offering consisting of 4,387,000 units at a price of $0.15 per unit for gross proceeds of $658,050.00 and 2,106,667 "flow-through" shares ("FT Shares") at a price of $0.15 per FT Shares for gross proceeds of $316,000.05, as previously announced on January 25, 2017. The Company now intends to issue an additional 3,000,000 FT Shares, at a price of $0.15 per FT Share, for total gross proceeds of $450,000. There can be no assurance that the second tranche of the Offering will be completed, whether in whole or in part. Manganese X Energy's mission is to acquire and advance high potential manganese mining prospects located in North America with the intent of supplying value added materials to the lithium ion battery and other alternative energy industries. In addition our company is striving to achieve new methodologies emanating from environmentally friendly green/zero emissions, while processing manganese at a lower competitive cost. For more information visit the website at www.manganesexenergycorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Martin Kepman
Interim CEO and Director
martin@kepman.com
1-514-802-1814
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company's filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader is cautioned not to place undue reliance on such forward-looking information.