Business
Manganese X Announces Closing of Strategic Investment
Montreal, Quebec--(Newsfile Corp. - October 19, 2020) - Manganese X Energy Corp. ( TSXV: ...
About this update from Manganese X Energy Corp.
[{"type":"text","content":"Manganese X Announces Closing of Strategic InvestmentMontreal, Quebec--(Newsfile Corp. - October 19, 2020) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2 (OTC Pink: MNXXF ) (\"Manganese\" or the \"Company\") is pleased to announce that it has closed its previously announced non-brokered private ‎placement for gross proceeds of $1,530,000 through the issuance of 6,000,000 units (a \"Unit\" or \"Units\") of the Company at $0.255 per Unit (the \"Offering\") to a strategic investor. Each Unit is 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 following closing. The net proceeds of the Offering will be used by the Company to finance and accelerate development of its patented HVAC (heating, ventilation and air conditioning) air management solution to combat bacteria and viruses. In addition, financing will be used for other technological initiatives under contemplation through subsidiary Disruptive Battery Corp. and for working capital.The Offering is subject to final approval from the TSX Venture Exchange.About Manganese X EnergyThe Company's mission is to acquire and advance high potential manganese mining prospects located in North America with the intent of supplying value added materials to the lithium ion battery and other alternative energy industries. In addition, Manganese X Energy is striving to achieve new methodologies emanating from technologies for environmentally geographically ethical and friendly green/zero emissions, while processing manganese at a lower competitive cost. For more information, visit the website at www.manganesexenergycorp.com.On Behalf of the Board of DirectorsMartin KepmanCEO and [email protected] Notes: General and Forward-Looking StatementsNeither 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 is not an offer to sell, or a solicitation of an offer to buy or sell, any securities of the Company and may not be relied upon in connection with the purchase or sale of any such security. This news release...