American Manganese Inc. (TSXV:AMY; PINKS:AMYZF;FRANK:2AM) intends to complete a non-brokered private placement for gross proceeds of up to $1-million by way of a unit offering at a price of 14 cents per unit. Each unit will consist of one common share of AMI and one common share purchase warrant. Each warrant will be exercisable for one common share at a price of 20 cents per common share for a period of two years from the date of closing of the offering.
The proceeds will be primarily used to continue metallurgical testing of the company’s proprietary hydrometallurgical process for large-scale recycling of lithium-ion vehicle batteries, debt settlement and working capital.
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