18:55:57 EDT Thu 28 Mar 2024
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American Manganese closes final tranche of placement

2017-12-01 18:14 ET - News Release

Mr. Larry Reaugh reports

AMERICAN MANGANESE INC. CLOSES OVER-SUBSCRIBED PRIVATE PLACEMENT

American Manganese Inc. has closed the second and final tranche of the non-brokered private placement for $131,120 comprising 728,444 units of the company. Each unit will consist of one common share of AMI and one common share purchase warrant. Each warrant will be exercisable for one share at a price of 25 cents per share for the two years following the issuance of the warrant. All securities issued under the private placement, including this final tranche, are subject to a four-month hold period. Finders' fees of $1,584 and 8,800 warrants were issued to Haywood Securities Inc.

The company has raised gross proceeds of $248,160 through this private placement.

About American Manganese Inc.

American Manganese is a diversified specialty and critical metal company focused on capitalizing on its patented intellectual property through low-cost production or recovery of electrolytic manganese products throughout the world, and recycling of spent electric vehicle lithium-ion rechargeable batteries. Interest in the company's patented process has adjusted the focus of American Manganese toward the examination of applying its patented technology for other purposes and materials.

The company has been featured in a Bloomberg article, "How to Mine Cobalt Without Going to Congo," written by Anna Hirtenstein.

We seek Safe Harbor.

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