Business
InvestmentPitch Media Video Discusses Manganese X Energy's Upsized Non-Brokered Private Placement and New Brunswick Manganese Project - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - August 13, 2020) - Manganese X Energy (TSXV: MN...
About this update from Manganese X Energy Corp.
[{"type":"text","content":"InvestmentPitch Media Video Discusses Manganese X Energy's Upsized Non-Brokered Private Placement and New Brunswick Manganese Project - Video Available on Investmentpitch.comVancouver, British Columbia--(Newsfile Corp. - August 13, 2020) - Manganese X Energy (TSXV: MN) (OTC Pink: SNCGF) (FSE: 9SC2) has amended the terms and size of its recently announced non-brokered private placement. The company is now looking to raise gross proceeds of up to $1.5 million from the placement of up to 18,750,000 units priced at $0.08 per unit, subject to a minimum offering of $1 million. The units consist of 1 share and 1 warrant, with each warrant exercisable at $0.15 for 36 months.For more information, please view the InvestmentPitch Media \"video\" which provides additional information about this news and the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter \"manganese\" in the search box. Cannot view this video? Visit:http://www.investmentpitch.com/video/0_evvt2a2b/Manganese-X-Energy-Amended-Terms-and-Size-of-its-recently-announced-non-brokered-private-placementOf the proceeds raised, $1 million is slated for exploration and drilling at the company's Woodstock Battery Hill Manganese project. The company's 100% owned Woodstock Battery Hill property is located in Carlton County, New Brunswick and consists of 56 claims totaling 896 hectares. The Manganese deposits are located approximately 5 kilometers northwest of the town of Woodstock and are easily accessible from the Trans-Canada highway via all-weather roads. The property encompasses all or part of four Manganese zones, Iron Ore Hill, Moody Hill, Sharpe Farm and Maple Hill.The company recently completed an updated National Instrument 43-101 Technical Report which stated that Metallurgical and Purification testing on the Battery Hill mineralization successfully demonstrated techniques capable of producing high purity manganese sulphate to 99.95%, with low contaminants, a level potentially sufficient for the use as a component in the production of EV and storage battery manufacturing.Diamond drilling has been completed over a 1.8 kilometer strike length of the prospective manganese occurrence trend. Most holes intercepted significant grades and widths of manganese mineralization such as 10.75% manganese over 52.6 meters in SF-16-05, 12.96% manganese over 3...