VANCOUVER, BC / ACCESSWIRE / May 30, 2017 / Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. ("American Manganese" or "AMI" or the "Company") (TSX-V: AMY; OTC PINK: AMYZF; FRA: 2AM), is pleased to announce that the Company it intends to complete a non-brokered private placement for gross proceeds of up to $1,000,000 by way of a unit offering at a price of $0.18 per unit (the "Offering"). Each unit will consist of one common share of AMI and one common share purchase warrant. Each warrant will be exercisable for one common share at a price of $0.25 per common share for a period of 2 years from the date of closing of the Offering.
The proceeds will be primarily used to complete the patent processes and general working capital.
All securities issued pursuant to the Offering will be subject to resale restrictions for a period of four months from the closing date. This Offering is subject to the approval of the regulatory authorities and finders' fees may be paid in accordance with the TSX Venture Exchange policies.
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 and Lithium-Cobalt-Aluminum. (Please see the Company's January 19, 2017 press release for further details).
On behalf of Management
AMERICAN MANGANESE INC.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain "forward-looking statements," which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
SOURCE: American Manganese Inc.