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CORRECTION FROM SOURCE: Manganese X Announces Investment from Strategic Investor
This document corrects and replaces the press release that was issued by Manganese X Energ...
About this update from Manganese X Energy Corp.
[{"type":"text","content":"CORRECTION FROM SOURCE: Manganese X Announces Investment from Strategic InvestorThis document corrects and replaces the press release that was issued by Manganese X Energy Corp. (\"Manganese\" or the \"Company\") disseminated earlier today at 3:15 AM ET. The error occurred in the last line of the second paragraph where it should have read, \"a period of two (2) years from closing \" instead of one (1) year. The corrected press release follows in full below:Manganese X Arranges Private Placement for a Strategic InvestorMontréal, Québec--(Newsfile Corp. - October 13, 2020) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (OTC Pink: MNXXF) (\"Manganese\" or the \"Company\") is pleased to announce its intention to complete a non- brokered private placement offering (the \"Offering\") of $1,530,000 through the issuance of 6,000,000 units (each, a \"Unit\") at a price of $0.255 per unit to an individual strategic investor.The Company intends to use the net proceeds of the Private Placement to fund and accelerate development of our patented HVAC air management solution to combat bacteria and viruses .In addition, funding will be used for other technological initiatives under contemplation through the subsidiary, Disruptive Battery Corp. and for working capital. Each Unit of the Offering will be comprised of one common share in the capital of the Company (each, a \"Common Share\") and one common share purchase warrant (each, a \"Warrant\") being exercisable into one Common Share at a price of $0.40 per share for a period of two (2) years from closing.The company has received an order from an individual strategic investor. The investor will be required to complete a subscription agreement which confirms, among other things, the availability of an exemption from the prospectus requirements of applicable securities laws in respect of the sale of Units to such purchaser.All securities issued pursuant to the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the TSX Venture Exchange (the \"Exchange\"). None of the securities issued in the Offering will be registered under the United States Securities Act of 19...