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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