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Manganese X acquisition of U.S. patent

May 26, 2020

2020-05-25 18:04 ET – Acquisition

The TSX Venture Exchange has accepted for filing documentation pertaining to a definitive agreement dated May 4, 2020, between Manganese X Energy Corp. and an arm’s-length party, whereby the company has acquired a U.S. patent for a system and method for air quality disinfection, sterilization and deodorization.

Under the term of the agreement and as consideration for the patent, the company will issue 1.5 million common shares and grant a 2-per-cent royalty to the vendor. The company has the option to repurchase 50 per cent of the royalty for $150,000.

For further details, please refer to the company’s news release dated May 5, 2020.

http://www.manganesexenergycorp.com/