Mr. Larry Reaugh reports
AMERICAN MANGANESE INC. ANNOUNCES $1,000,000 PRIVATE PLACEMENT
American Manganese Inc. intends to complete a non-brokered private placement for gross proceeds of up to $1-million by way of a unit offering at a price of 14 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 20 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 continue metallurgical testing of the company's proprietary hydrometallurgical process for large-scale recycling of lithium-ion vehicle batteries, debt settlement and working capital.
All securities issued pursuant to the offering will be subject to resale restrictions for a period of four months from the closing date. This offering is subject to the approval of the regulatory authorities, and finders' fees may be paid in accordance with the TSX Venture Exchange policies.
We seek Safe Harbor.
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