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American Manganese Inc. Proposes Spinout of Mineral Properties to Maximize Asset Values

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American Manganese Inc. Proposes Spinout of Mineral Properties to Maximize Asset Values

 

 

 

 

 

Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. (TSX-V: AMY) (OTC US: AMYZF) (FSE: 2AM)  is pleased to announce the Company is proposing to maximize shareholder value by spinning out their B.C. mineral claims into a new company. Current shareholders of the Company would receive shares of the new company, provided that the proposed plan of arrangement through which the spin-out occurs is approved by the shareholders, the TSX Venture Exchange and other regulatory authorities.

 

Recent investor focus on precious and base metals supports the Company’s decision to maintain these valuable assets, which AMY believes are not currently reflected in its stock price. By contributing these mineral claims to a separate, newly formed company, AMY believes shareholders will benefit from the market’s view on these assets.

 

 

“A spin-out of our mining assets now would allow our shareholders to take advantage of the bull market in precious and base metals, especially in gold, copper and cobalt,” says Mr. Reaugh. “Our Rocher DeBoule property is in a good position to capitalize on this upsurge, being an IOCG target with past production.” Highlights of the Rocher Deboule property are as follows:

 

 

Along with the Rocher Deboule property, the Company’s Rare Earth Project would also be spun out. Highlights of those claims are as follows: 

 

 

About American Manganese Inc.

 

 

American Manganese Inc. is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ Patented Process. The process provides high extraction of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum at battery-grade purity, with minimal processing steps. American Manganese Inc. aims to commercialize its breakthrough RecycLiCo™ Patented Process and become an industry leader in recycling cathode materials from spent lithium-ion batteries.

Posted July 24, 2020

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