American Manganese Amends Stock Options

Rhea-AI Summary

American Manganese Inc. (AMYZF) announced amendments to 3,600,000 stock options. The exercise price for 1,000,000 options from February 16, 2021, is reduced from $1.99 to $1.00, while for 2,600,000 options from February 17, 2021, it drops from $2.63 to $1.00. All terms remain unchanged. These amendments are subject to TSX Venture Exchange approval and will benefit the company by aligning options with current market conditions.

Positive

• Reduction of exercise prices for stock options may enhance employee motivation and retention.
• Potential to align stock options with current market prices may increase shareholder satisfaction.

Negative

• The significant reduction in exercise prices may indicate a weaker stock performance or market conditions.
• Investor perception may be negatively affected if the amendments suggest a lack of confidence in stock value.

SURREY, BC / ACCESSWIRE / November 2, 2021 / American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM) ("AMY" or the "Company") will be amending the exercise price for 3,600,000 stock options previously granted in February 2021, subject to acceptance by the TSX Venture Exchange (the "Exchange"). For the 1,000,000 stock options previously granted on February 16, 2021, the exercise price per share will be reduced it from $1.99 to $1.00. For 2,600,000 of the stock options previously granted on February 17, 2021, the exercise price per share will be reduced from $2.63 to $1.00. None of the optionees are Insiders. All other terms and conditions of these stock options remain the same.

About American Manganese Inc.

American Manganese Inc. is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ patented process. The RecycLiCo™ patented process was developed to offer a closed-loop and environmentally friendly solution for the recycling of cathode materials used in lithium-ion batteries. The recycling process provides high extraction and purity of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum. The RecycLiCo™ process was designed with the goal to produce recycled battery products that could be seamlessly and directly integrated into the re-manufacturing of battery cathodes using minimal processing steps.

On behalf of Management

AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer
Telephone: 778 574 4444
Email: lreaugh@amymn.com

www.americanmanganeseinc.com
www.recyclico.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.

SOURCE: American Manganese Inc.

View source version on accesswire.com:
https://www.accesswire.com/670819/American-Manganese-Amends-Stock-Options

FAQ

What are the new exercise prices for American Manganese stock options?

The new exercise price for the options is reduced to $1.00 from $1.99 and $2.63.

How many stock options are being amended by American Manganese?

3,600,000 stock options are being amended.

When were the original stock options granted by American Manganese?

The original stock options were granted in February 2021.

What is the stock symbol for American Manganese?

The stock symbol for American Manganese is AMYZF.

Are the optionees insiders at American Manganese?

No, none of the optionees are insiders.