03:07:05 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



American Manganese Inc
Symbol AMY
Shares Issued 114,525,880
Close 2016-05-16 C$ 0.02
Market Cap C$ 2,290,518
Recent Sedar Documents

American Manganese closes $200,500 private placement

2016-05-17 18:18 ET - News Release

Mr. Larry Reaugh reports

AMERICAN MANGANESE INC. CLOSES $200,500 PRIVATE PLACEMENT

Further to its news release dated April 20, 2016, American Manganese Inc. has closed its oversubscribed private placement, raising $200,500.

The company issued 10,025,000 units. Each unit consists of one common share at two cents per share and one non-transferable share purchase warrant exercisable at five cents per share for a period of 24 months following closing.

Finder's fees amounted to $6500 and 17,500 non-transferable warrants. All securities issued for this private placement are subject to a four-month hold period expiring on Sept. 18, 2016.

The proceeds will be primarily used to conduct proof-of-concept testing of the company's proprietary hydrometallurgical process for large-scale recycling of lithium-ion vehicle batteries. The balance of the proceeds will be used to pay patent application fees, exchange fees, regulatory filing fees, current liabilities and general administrative 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. No part of the proceeds will be used to pay related parties.

The closing of the private placement is subject to final acceptance from the TSX Venture Exchange.

We seek Safe Harbor.

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