Manganese X Energy Announces Granting Options and Extension of Term of Warrants
TSX VENTURE: MN
Montréal, Québec--(Newsfile Corp. - January 11, 2019) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (TRADEGATE: 9SC2) (OTC Pink: SNCGF) ("Manganese" or the "Company") is pleased to announce that it has approved the grant of 800,000 stock options to purchase common shares of the Company to certain directors and consultants of the Company. The options were issued with an exercise price of $0.12 per common share. The options granted to the Company's directors and consultants have a term of two years vesting immediately. The issuance of the options is subject to all necessary approvals by the TSX Venture Exchange.
In addition, the Company announces that its board has approved the extension of the expiry date of certain outstanding warrants to purchase 4,387,000 common shares in the capital of the Corporation due to expire January 25, 2019 held by eligible persons, to July 25, 2019 at the same exercise price of $0.25. The other conditions for granting such remain the same. The extension of term of warrants is subject to all necessary approvals by the TSX Venture Exchange.
All securities issued are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.
Manganese'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 our company is striving to achieve new methodologies emanating from environmentally friendly green/zero emissions technologies, while processing manganese at a lower competitive cost. For more information visit the website at www.manganesexenergycorp.com.
On behalf of the Board of Directors of
MANGANESE X ENERGY CORP.
CEO and Director
Cautionary 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 Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company's filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader is cautioned not to place undue reliance on such forward-looking information.
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