American Manganese Inc Closes First Tranche Of Non-Brokered Private Placement
Vancouver - Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. (“American Manganese” or “AMI” or the “Company”), (TSX.V: AMY; Pink Sheets: AMYZF; Frankfurt: 2AM), is pleased to announce that the company has received conditional acceptance to close a first tranche of the non-brokered private placement for $417,330 comprised of 2,318,500 units of the Company (“Units”). Each Unit will consist of one common share of AMI (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will be exercisable for one Share at a price of $0.25 per Share for the two years following the issuance of the Warrant. Insiders (as that term is defined under TSX Venture Exchange policies) have purchased 1,000,000 Units in the first tranche. Finder’s fees payable on the first tranche total $720.00 cash plus 4,000 Warrants. All securities issued under the private placement, including this first 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 $1,000,000.
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 January 19, 2017 press release for further details).
The company has updated their PowerPoint which can be viewed here.
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer
Information Contacts:
Larry W. Reaugh
President and Chief Executive Officer
Telephone: 778 574 4444; Email: lreaugh@amymn.com
www.americanmanganeseinc.com
Neither the 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 may contain “forward-looking statements”, which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward –looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
Source: American Manganese Inc. (TSX Venture:AMY, OTC Pink:AMYZF, FWB:2AM)