ORIGINAL: Manganese X Completes Investment into Mountain Spr Wow! fantastic News for us....
2018-10-11 16:30 ET - News Release
Montreal, Quebec--(Newsfile Corp. - October 11, 2018) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (TRADEGATE: 9SC2) (OTC Pink: SNCGF) (the "Company" or "Manganese X") is pleased to announce that on Tuesday October 9th 2018 the board of directors of Manganese X approved the purchase of 750,000 shares by way of a private placement at $1 a share. This represents ownership of 15% of Mountain Spring Oil and Gas Limited ("MSOG") by Manganese X. Subsequent to this event Manganese X was given the opportunity to purchase additional shares into MSOG. Talks are ongoing. Manganese X will update the shareholders next week.
Manganese X is pleased to announce a non-brokered non-commissioned private placement financing to raise up to $400,000 (the "Offering"). The Offering consists of 2 million flow-through" shares ("FT Shares") at a price of $0.20 per share to raise aggregate proceeds of up to $400,000, It is currently anticipated that certain principals and insiders of the Company may participate in the Offering. Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Exchange and the securities regulatory authorities. There can be no assurance that the Offering will be completed, whether in whole or in part. All securities issued by the Company in connection with the Offering will be subject to a statutory four month hold period. Proceeds from the Offering will be used for exploration in our Peter Lake property as well as our Battery Hill property.
About Manganese X Energy
Manganese X Energy's mission is to acquire and advance high potential manganese as well as additional mineral 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 DIRECTORS
Martin Kepman
CEO and Director
martin@kepman.com
1-514-802-1814