Manganese X acquires 750,000 Mountain Springs shares

Oct 12, 2018

2018-10-11 16:39 ET – News Release

Mr. Martin Kepman reports

MANGANESE X COMPLETES INVESTMENT INTO MOUNTAIN SPRING OIL AND GAS LIMITED

On Oct. 9, 2018, the board of directors of Manganese X Energy Corp. approved the purchase of 750,000 shares by way of a private placement at $1 a share. This represents ownership of 15 per cent of Mountain Spring Oil and Gas Ltd. (MSOG) by Manganese X. Subsequent to this event, Manganese X was given the opportunity to purchase additional shares into MSOG. Talks are continuing. Manganese X will update the shareholders next week.

Manganese X is pleased to announce a non-brokered non-commissioned private placement financing to raise up to $400,000. The offering consists of two million flow-through shares at a price of 20 cents per share to raise aggregate proceeds of up to $400,000. It is currently anticipated that certain principals and insiders of the company may participate in the offering. Completion of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the exchange and the securities regulatory authorities. There can be no assurance that the offering will be completed, whether in whole or in part. All securities issued by the company in connection with the offering will be subject to a statutory four-month hold period. Proceeds from the offering will be used for exploration in the company’s Peter Lake property, as well as the company’s Battery Hill property.

About Manganese X Energy Corp.

Manganese X Energy’s mission is to acquire and advance high-potential manganese, as well as additional mineral prospects located in North America with the intent of supplying value-added materials to the lithium ion battery and other alternative energy industries, as well as the steel industry. In addition, the company is striving to achieve new methodologies emanating with environmentally friendly green/zero-emission processes and producing manganese at a lower competitive cost.

We seek Safe Harbor.

http://www.manganesexenergycorp.com/pressreleases