Mr. Larry Reaugh reports
AMERICAN MANGANESE INC. CLOSES FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
American Manganese Inc. has received conditional acceptance to close a first tranche of the non-brokered private placement for $907,680 comprising 3,782,000 units of the company. Each unit will consist of one common share of American Manganese and one common share purchase warrant. Each warrant will be exercisable for one share at a price of 30 cents per share for the two years following the issuance of the warrant. 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 $1.5-million.
About American Manganese Inc.
American Manganese 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 as well as recycling of spent electric vehicle lithium-ion rechargeable batteries.
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