- Manganese X Energy Corp. (MN) has arranged a $2-million non-brokered private placement
- The company will issue 9,015,958 flow-through units at a price of $0.23 per FT unit for gross proceeds of $2,073,670.34
- Proceeds from the offering will be used for Canadian Exploration Expenses (CEE) and “flow-through mining expenditures”
- Manganese X Energy Corp. is a mineral exploration company
- Manganese X Energy Corp. opened trading at $0.19
Manganese X Energy Corp. (MN) has announced a $2-million non-brokered private placement.
The company will issue 9,015,958 flow-through units at a price of $0.23 per FT unit for gross proceeds of $2,073,670.34.
Each FT unit shall consist of one flow-through common share and one-half of one common share purchase warrant. Each whole common warrant will entitle the holder to purchase a non-flow-through common share at $0.32 for a period of 24 months.
All securities issued in connection with the offering will be subject to a statutory four-month hold period.
The offering is expected to close in mid-December.
Manganese X Energy Corp. is a mineral exploration company whose mission is to advance its Battery Hill project into production, with the intent of supplying value-added materials to the lithium-ion battery and other alternative energy industries.
Manganese X Energy Corp. opened trading at $0.19.