Manganese X Energy Announces Clarification on Terms of Proposed Private Placement
TSX VENTURE: MN
Montreal, Quebec--(Newsfile Corp. - April 3, 2019) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (TRADEGATE: 9SC2) (OTC Pink: SNCGF) ("Manganese" or the "Company") today announced a correction to its press release that was disseminated on March 20, 2019 (the "Initial Press Release"). The Initial Press Release announced, among other things, a proposed non-brokered private placement financing (the "Offering") to raise gross proceeds of up to $360,000 through the issuance of up to 3 million units (each, a "Unit") at a price of $0.12 per Unit, each Unit being comprised of one (1) common share and one (1) common share purchase warrant (each, a "Warrant"), and each Warrant entitling the holder thereof to acquire one (1) further common share at a price of $0.14 per common share. The Company wishes to clarify that (i) it intends to raise gross proceeds of up to $546,000 through the sale of up to 4,550,000 Units; and (ii) the exercise price of the Warrants is $0.145 rather than $0.14. The terms of the Offering otherwise remain the same as disclosed in the Initial Press Release.
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, 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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