Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. (TSXV:AMY; PINKS:AMYZF;FRANK:2AM), is pleased to announce that the Company has closed the third and final tranche of the non-brokered private placement for $5,500 comprised of 30,555 units of the Company (‘Units’). Each Unit will consist of one common share of AMI (a ‘Share’) and one common share purchase warrant (a ‘Warrant’). Each Warrant will be exercisable for one Share at a price of $0.25 per Share for the two years following the issuance of the Warrant. All securities issued under the private placement, including this third tranche, are subject to a four-month hold period.
The Company has raised gross proceeds of $945,374.58 through this private placement.
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 and industry leader in the recycling of spent electric vehicle lithium ion batteries having cathode chemistries such as: Lithium-Cobalt, Lithium-Cobalt-Nickel-Manganese, and Lithium-Manganese .