Source: Manganese X Energy
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  • Manganese X Energy Corp. (MN) will close its non-brokered private placement offering on December 15, 2022
  • The company will issue a total of 9,015,958 flow-through units at $0.23 per FT unit for gross proceeds of $2,073,670.34
  • The company intends to use the proceeds for exploration expenses
  • Manganese X Energy Corp. is a mineral exploration company focused on supplying value-added materials to the lithium-ion battery and other alternative energy industries
  • Manganese X Energy Corp. opened trading at $0.19

Manganese X Energy Corp. (MN) will close its previously-announced non-brokered private placement offering on Dec. 15, 2022.

The company will issue a total of 9,015,958 flow-through units at $0.23 per FT unit for aggregate proceeds of $2,073,670.34.

Each FT unit consists of one common share and one-half of one common share purchase warrant.

Each whole purchase warrant entitles the holder to purchase a non-flow-through common share at an exercise price of $0.32 until December 15, 2024.

The company intends to use the proceeds from the offering for Canadian Exploration Expenses and “flow-through mining expenditures” as defined in the Income Tax Act (Canada).

All securities issued will be subject to a statutory four-month hold period that expires on April 16, 2023.

Manganese X Energy Corp. is a mineral exploration company focused on supplying value-added materials to the lithium-ion battery and other alternative energy industries.

Manganese X Energy Corp. opened trading at $0.19.


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