Manganese X Energy Corp Increases Financing to $1.42-million

 
Manganese X Energy Corp. (TSXV:MN), in consultation with First Republic Capital Corp., lead finder to the financing, has expanded its non-private placement financing as previously announced on Jan. 13, 2017, from $1.2-million to $1,425,000, of which $974,050.05 has already closed. The company closed an initial tranche of the offering, consisting of 4,387,000 units at a price of 15 cents per unit for gross proceeds of $658,050 and 2,106,667 flow-through (FT) shares at a price of 15 cents per FT share for gross proceeds of $316,000.05, as previously announced on Jan. 25, 2017. The company now intends to issue an additional three million FT shares, at a price of 15 cents per FT Share, for total gross proceeds of $450,000. There can be no assurance that the second tranche of the offering will be completed, whether in whole or in part.
Manganese X Energy’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, the company is striving to achieve new methodologies emanating from environmentally friendly green or zero emissions, while processing manganese at a lower competitive cost.
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