21:02:47 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



American Manganese Inc
Symbol AMY
Shares Issued 111,492,547
Close 2014-07-18 C$ 0.035
Market Cap C$ 3,902,239
Recent Sedar Documents

American Manganese sets up financing for up to $200,000

2014-07-21 12:24 ET - News Release

Mr. Larry Reaugh reports

AMERICAN MANGANESE ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

American Manganese Inc. has arranged a non-brokered private placement, at a price of three cents per unit, of a minimum of four million of the company's units for $120,000 gross proceeds and a maximum of 6,666,667 units for $200,000 gross proceeds. Each unit comprises one common share in the capital of the company plus a share purchase warrant. Each warrant entitles the holder to purchase one share at a price of five cents during the three years following the date of issuance. In the event the offering is oversubscribed, the company will accept subscriptions up to 50 per cent above the maximum.

The company expects to use approximately $50,000 of the proceeds to pay audit-related fees, $3,500 toward transfer agent fees, $20,000 to pay mineral tenure fees and the rest toward general working capital. No part of the proceeds will be used to pay management fees or to pay related parties. While the company intends to spend the funds as stated, a reallocation of funds for sound business reasons may be necessary.

All securities issued pursuant to the offering will be subject to resale restrictions for a period of four months from the closing date. The offering is available to all shareholders who held shares on or before July 20, 2014. If the offering is oversubscribed, the company will accept subscriptions from any shareholder except insiders. Notwithstanding the foregoing, the company reserves the right to reject any subscription in its sole discretion.

This private placement is subject to the approval of the regulatory authorities, and finders' fees may be paid in accordance with TSX Venture Exchange policies. The company will be applying to the TSX Venture Exchange for a waiver of the five-cent minimum pricing requirement.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.