Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc (TSX-V:AMY) (Pink Sheets:AMYZF) (Frankfurt:2AM), is pleased to announce that the company has received conditional acceptance to close a first tranche of the non-brokered private placement for $907,680 comprised of 3,782,000 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 $0.30 per Share for the two years following the issuance of the Warrant. All securities issued under the private placement, including this first tranche, are subject to a four-month hold period.
As previously announced, the Company is conducting the private placement to raise gross proceeds of up to $1,500,000.
About American Manganese Inc.
American Manganese Inc. 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 Inc. toward the examination of applying its patented technology for other purposes and materials. American Manganese Inc. aims to capitalize on its patented technology and proprietary know-how to become the industry leader in recycling spent electric vehicle lithium ion batteries and recovering 100% of the cathode metals such as: Lithium-Cobalt, Lithium-Cobalt-Nickel-Manganese, Lithium-Cobalt- Aluminum and Lithium-Manganese (Please see the Company’s July 27, 2017 press release for further details).
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