American Manganese closes $756,850 tranche of placement

Oct 2, 2020

2020-10-02 17:21 ET – News Release

Mr. Larry Reaugh reports

AMERICAN MANGANESE INC. CLOSES FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

American Manganese Inc. has closed a first tranche of its non-brokered private placement for gross proceeds of $756,850.45 from the issuance of 3,784,252 units of the company. Each unit will consist of one common share of American Manganese and one common share purchase warrant. Each warrant will be exercisable for one share at a price of 30 cents per share for the two years following the issuance of the warrant.

Insiders (as that term is defined under TSX Venture Exchange policies) have purchased 60,000 units in the first tranche. Finders’ fees payable on the first tranche total $35,817.05 in cash. All securities issued under this first tranche are subject to a four-month hold period, which will expire on Feb. 3, 2021.

As previously announced, the company is conducting the private placement to raise gross proceeds of up to $2-million.

About American Manganese Inc.

American Manganese is a critical metal company focused on the recycling of lithium-ion batteries with the RecycLiCo patented process. The process provides high extraction of cathode metals, such as lithium, cobalt, nickel, manganese and aluminum, at high purity, with minimal processing steps. American Manganese aims to commercialize its breakthrough RecycLiCo patented process and become an industry leader in recycling cathode materials from spent lithium-ion batteries.

We seek Safe Harbor.

https://americanmanganeseinc.com/