American Manganese Inc. Announces $2,000,000 Private Placement

Rhea-AI Summary

American Manganese Inc. announces a non-brokered private placement aiming for gross proceeds of $2,000,000 through a unit offering priced at $0.24 per unit. Each unit comprises one common share and one purchase warrant, exercisable at $0.30 for two years. Proceeds will primarily fund the completion of their pilot plant, the spin-out of gold/copper assets, and general working capital. The offering is subject to regulatory approval and resale restrictions for four months.

Positive

• The $2,000,000 private placement will support key projects, including pilot plant completion.
• The offering price of $0.24 per unit is positioned to attract investment, with each warrant having a potential upside at $0.30.

Negative

• Resale restrictions on issued securities for four months may limit immediate liquidity for investors.

SURREY, BC / ACCESSWIRE / September 14, 2020 / Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. ("American Manganese" or "AMY" or the "Company"), (TSXV:AMY)(OTC:AMYZF)(FSE:2AM), is pleased to announce that the Company intends to complete a non-brokered private placement for gross proceeds of up to $2,000,000 by way of a unit offering at a price of $0.24 per unit (the "Offering"). Each unit will consist of one common share and one purchase warrant. Each warrant will be exercisable for one common share at a price of $0.30 per common share for a period of two years from the date of closing of the Offering.

The proceeds will be primarily used for Pilot Plant completion, spin-out of gold/copper assets and rare earth mineral property, as well as for general working capital.

All securities issued pursuant to the Offering will be subject to resale restrictions for a period of four months from the closing date. This offering is subject to the approval of the regulatory authorities and finder's fees may be paid in accordance with the TSX Venture Exchange policies.

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 process provides high extraction of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum at high purity, with minimal processing steps. American Manganese Inc. aims to commercialize its breakthrough RecycLiCo™ Patented Process and become an industry leader in recycling cathode materials from spent lithium-ion batteries.

On behalf of Management

AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer
Telephone: 778 574 4444 Email: lreaugh@amymn.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/606034/American-Manganese-Inc-Announces-2000000-Private-Placement

FAQ

What is the purpose of American Manganese Inc.'s private placement on September 14, 2020?

The private placement aims to raise $2,000,000 to fund the completion of the pilot plant, spin out gold/copper assets, and for general working capital.

What is the offering price for the units in American Manganese Inc.'s private placement?

The offering price is set at $0.24 per unit.

What are the terms of the warrants issued in American Manganese Inc.'s offering?

Each warrant is exercisable for one common share at a price of $0.30 per share for a period of two years.

Are there any restrictions on the securities issued in American Manganese Inc.'s private placement?

Yes, all securities will be subject to resale restrictions for four months from the closing date.

What is the stock symbol for American Manganese Inc.?

The stock symbol for American Manganese Inc. is AMYZF.