Manganese X holders approve Lac Aux Bouleaux spinout

Apr 14, 2021

2021-04-13 16:41 ET – News Release

 

Mr. Martin Kepman reports

MANGANESE X ANNOUNCES SHAREHOLDER APPROVAL OF PLAN OF ARRANGEMENT WITH GRAPHANO ENERGY LTD. AND APPOINTMENT OF ROBERT TJANDRA AS NEW DIRECTOR

Manganese X Energy Corp. shareholders have approved the company’s previously announced statutory plan of arrangement with Graphano Energy Ltd. to spinout its Lac Aux Bouleaux graphite property, located in the province of Quebec. Further, the company is pleased to announce that, effective immediately, the company has appointed Robert Tjandra to its board of directors.

Approval of plan of arrangement

At the company’s special meeting of shareholders held on Monday, April 12, 2021, a total of 13,548,548 common shares in the capital of the company were voted in favour of the special resolution approving the plan of arrangement, representing 99.15 per cent of the total number of the common shares represented in person and by proxy at the meeting. The completion of the plan of arrangement is subject to a number of conditions, including but not limited to the receipt of the requisite stock exchange approvals, and a final order of the Supreme Court of British Columbia (a hearing for which is scheduled on April 15, 2021, unless adjourned).

Appointment of new director

The company has appointed Mr. Tjandra to its board of directors, effective immediately. Mr. Tjandra brings with him a unique blend of professional management, leadership and entrepreneurial skills, and has over 25 years of combined experience working, consulting and developing businesses in construction, trading, oil and gas, fintech, and cleantech. He is passionate about development of EV (electric vehicle) and energy storage, including sustainable mining development. Mr. Tjandra serves as the president, chief operating officer and a director of Canbud Distribution Corp., and as a director of Florence Wealth Management Inc. (a registered exempt market dealer in Canada). He is also a director of Electrum Charging Solutions, a private EV charging technology company.

“We are delighted to welcome Robert Tjandra to company’s board of directors,” said Martin Kepman, chief executive officer of the company. “Robert brings a wealth of knowledge and experience, which will be a tremendous resource for Manganese X as we continue to execute on our business strategy, drive growth and build long-term shareholder value.”

In accordance with the company’s stock option plan, the company has granted to Mr. Tjandra an aggregate of 300,000 options to purchase common shares, with each option exercisable at an exercise price of 50 cents for a period of five years.

About Manganese X Energy Corp.

Manganese X’s mission is to advance its Battery Hill project into production, with the intent of supplying value-added materials to the lithium-ion battery and other alternative energy industries. The company is also striving to achieve new, carbon-friendly, more-efficient methodologies, while processing manganese at a lower competitive cost. The company is moving toward the commercialization of a manganese deposit in Canada.

Subsidiary Disruptive Battery’s mission is to develop an HVAC (heating, ventilation and air conditioning) air purification delivery system for cleaner and healthier air, aiming to mitigate COVID-19 and other contaminants on surfaces and in the air.

We seek Safe Harbor.

https://www.manganesexenergycorp.com/

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