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Manganese X Corporate Update
Montreal, Quebec--(Newsfile Corp. - June 14, 2018) - Manganese X Energy Corp. (TSXV: MN) (FS...
About this update from Manganese X Energy Corp.
[{"type":"text","content":"Manganese X Corporate UpdateMontreal, Quebec--(Newsfile Corp. - June 14, 2018) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (TRADEGATE: 9SC2) (OTC Pink: SNCGF) (\"Manganese X\") Michael Duggan, President of Mountain Springs Oil and Gas Ltd (\"Mountain Springs\"), on Tuesday, June 12th, has informed Manganese X that Mountain Springs are in the final stages of their due diligence to acquire an oil and gas property located in Central Alberta yielding net approximately $3.5 million per year. Due Diligence and, if successful, possession of the property are expected to be completed in 30 - 45 days. Upon completion and possession of the property Mountain Springs has also indicated that a definitive agreement will be executed to sell Manganese X 15% interest in Mountain Springs as previously indicated in non-binding letter of intent. \"We are very optimistic that Mountain Springs will close this deal as financing is already secured. Upon completion, we look forward directly to acquiring a 15% interest in Mountain Springs with its existing business association with Schumberger. We anticipate this acquisition will be the first of many such asset acquisitions,\" stated Martin Kepman, CEO of Manganese X. Manganese X has also completed its National Research Council IRAP (\"NRC/IRAP\") portal application and is awaiting acceptance into the NRC/IRAP Programme technological manganese project. Estimated costs will be up to $160,000. Anticipated funding by the NRC/IRAP will be approximately 50% of the project costs.About Manganese X EnergyManganese X Energy's mission is to acquire and advance high potential manganese prospects located in North America with the intent of supplying value added materials to the lithium ion battery and other alternative energy industries as well as the steel industry. In addition, our company is striving to achieve new methodologies emanating with environmentally friendly green/zero emissions processes and producing 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] Note Regarding Forward-Looking Statements:Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exch...