Manganese X closes $792,750 private placement

Feb 21, 2018

2018-02-20 18:27 ET – News Release

Mr. Martin Kepman reports

MANGANESE X ENERGY CORP. ANNOUNCES CLOSING OF OVERSUBSCRIBED PRIVATE PLACEMENT FINANCING

Manganese X Energy Corp. has completed a non-brokered private placement financing as previously announced on Feb. 7, 2018, and increased the financing from $750,000 to $792,750. Pursuant to the financing, the company issued 5,285,000 units of the company at a price of 15 cents per unit to raise aggregate proceeds of $792,750. Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle its holder to purchase one additional common share at an exercise price of 25 cents for a period of two years from the closing date of the private placement.

All securities issued in connection with the financing are subject to a four-month hold period from the date of issuance in accordance with applicable securities laws.

The proceeds of funds will be used for exploration, growth, research and development, marketing, and general working capital purposes.

Manganese X Energy’s mission is to acquire and advance high-potential manganese mining prospects located in North America with the intent of supplying value-added materials to the lithium ion battery and other alternative energy industries. In addition the company is striving to achieve new methodologies emanating from environmentally friendly green/zero emissions, while processing manganese at a lower competitive cost.

We seek Safe Harbor.

http://www.manganesexenergycorp.com/pressreleases