Manganese X Energy Creates Battery Subsidiary Named Disruptive Battery Corp.
TSX VENTURE: MN
Montréal, Québec--(Newsfile Corp. - April 24, 2019) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (TRADEGATE: 9SC2) (OTC Pink: SNCGF) ("Manganese" or the "Company") is pleased to announce that a standalone subsidiary has been formed within the parent Company called Disruptive Battery Corp. We have secured the domain batterydisruptors.com and our website is presently under construction.
The new company was created for the purposes of accelerating a manganese thesis as it relates to fuel cells and stored energy. The intent is to advance the movement of manganese for greener power production and penetrating the EV market.
Manganese has a higher energy density and is a cheap and an abundant alternative that will substantially decrease dependence on cobalt as a component in rechargeable lithium-ion batteries. It will also lower the cost of electric vehicles, renewable energy storage, and portable electronic devices that currently rely on lithium-ion batteries.
As we evolve the new subsidiary, the company may consider the option of unlocking value by spinning out the asset and creating a dividend effect for shareholders. Going forward, we will potentially establish partnerships and assemble a world class advisory.
The company is also pleased to confirm membership with Propulsion Quebec (propulsionquebec.com). Propulsion Québec rallies the entire sector around joint projects aimed at positioning Quebec as a global leader in developing and implementing smart and electric modes of ground transportation.
Martin Kepman,CEO ,comments, "a manganese thesis for lithium ion fuel cells is compelling for scalability, cost effectiveness and greater driving range for Electric vehicles. The formation of a subsidiary battery division makes sense on multiple levels. We will use our resource to aid and abet battery proponents who are using a manganese based catalyst. Also, we will endeavor to attract top talent and create a battery brain trust Advisory Board for our investors and potentially look forward to create a future spinout opportunity to extract greater value "
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.
NOT FOR DISSEMINATION IN THE US OR THROUGH US NEWSWIRE SERVICES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/44264