American Manganese to Extend Term of Warrants

Rhea-AI Summary

American Manganese Inc. (AMYZF) is extending the exercise period of 1,378,666 share purchase warrants at $0.25 each. Originally issued in a 2017 private placement, these warrants' expiration dates will now be extended by another year: to November 1, 2021, for those from the first tranche and to December 1, 2021, for the second tranche. The extension is pending acceptance by the TSX Venture Exchange. All other terms of the warrants remain unchanged, and the company emphasizes the uncertainty in forward-looking statements.

Positive

• Extension of warrants gives investors more time to exercise their options, potentially increasing investor confidence.
• The company's proactive approach to extending the warrants indicates a commitment to support shareholders.

Negative

• The extension may signal to investors that the company anticipates challenges in warrant exercises within the original timeframe.

SURREY, BC / ACCESSWIRE / October 19, 2020 / American Manganese Inc. (TSXV:AMY)(OTC PINK:AMYZF)(FSE:2AM) ("AMY" or the "Company") is pleased to announce that the Company will be extending the exercise period of a total of 1,378,666 share purchase warrants, all of which are exercisable at $0.25 per share (collectively, the "Warrants"). The Warrants were issued pursuant to a private placement which closed over two tranches in 2017, and the expiry dates for the outstanding Warrants had been extended previously by one year. The Company proposes to extend the expiry dates for all Warrants by another year, and accordingly, the new expiry dates for the Warrants are as follows:

Tranche 1: For Warrants issued on November 1, 2017, the new expiration date of those Warrants will be November 1, 2021.

Tranche 2: For Warrants issued on December 1, 2017, the new expiration date of those Warrants will be December 1, 2021.

All other terms and conditions of the Warrants remain unchanged. The Warrant extension is subject to acceptance by the TSX Venture Exchange.

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/611131/American-Manganese-to-Extend-Term-of-Warrants

FAQ

What is the new expiry date for American Manganese's warrants (AMYZF)?

The new expiry date for the warrants from the first tranche is November 1, 2021, and for the second tranche, it's December 1, 2021.

Why is American Manganese extending the warrants' exercise period?

The extension provides investors additional time to exercise their options, which may aid in raising capital.

How many warrants is American Manganese extending?

American Manganese is extending a total of 1,378,666 share purchase warrants.

What price are the American Manganese warrants exercisable at?

The warrants are exercisable at a price of $0.25 per share.

What is the significance of extending the warrants for AMYZF investors?

Extending the warrants may boost investor confidence by allowing more time to exercise their options amid market conditions.