15:58:53 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



American Manganese Inc
Symbol AMY
Shares Issued 114,525,880
Close 2016-04-19 C$ 0.02
Market Cap C$ 2,290,518
Recent Sedar Documents

American Manganese arranges $200,000 private placement

2016-04-20 13:09 ET - News Release

Mr. Larry Reaugh reports

AMERICAN MANGANESE INC. ANNOUNCES $200,000 PRIVATE PLACEMENT

American Manganese Inc. intends to complete a non-brokered private placement for gross proceeds of up to $200,000 by way of a unit offering at a price of two cents per unit. Each unit will consist of one common share of AMI and one common share purchase warrant. Each warrant will be exercisable for one common share at a price of five cents per common share for a period of two years from the date of closing of the offering.

The proceeds will be primarily used to conduct proof-of-concept testing of the company's proprietary hydrometallurgical process for large-scale recycling lithium-ion electric-vehicle batteries. The balance will be used to pay patent application fees, exchange fees, regulatory filing fees, current liabilities, as well as general administration expenses. No part of the proceeds will be used 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 April 20, 2016. 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. Finders' fees payable in cash, shares or warrants, or a combination may be paid in connection with the private placement.

This offering is subject to 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.

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