AMI-CLOSES SECOND TRANCHE OF NON-BROKERED PRIVATE PLACEMENT January 11, 2019 - Surrey, BC TSX.V: AMY | OTC US: AMYZF| FSE: 2AM
Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. (“American Manganese” or the “Company”), is pleased to announce that the company is closing a second tranche of the non-brokered private placement for up to 10,000,000 units of the Company (“Units”) at $0.15 per Unit. Each Unit consists of one common share of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will be exercisable for one Share at a price of $0.20 per Share for the two years following the issuance of the Warrant.
The Company has raised gross proceeds of $131,750.10 in this second tranche of the private placement, and all securities issued under this second tranche are subject to a four-month hold period which expires on May 12, 2019. The private placement is subject to final acceptance by the TSX Venture Exchange; conditional acceptance was granted on December 3, 2018.