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Manganese X Energy Corp Completes $905K Private Placement

Manganese X Energy Corp Announces Investment

Manganese X Energy Corp. (TSXV: MN)(FSE: 9SC) has successfully closed its recent Private Placement. The company issued 8,230,000 flow-through common shares at $0.11 each, raising a gross total of $905,300.

Investment Allocated to Battery Hill Project

This strategic move channels the Proceeds into exploring activities deemed as ‘Canadian exploration expenses’ and ‘flow-through critical mineral mining expenditures’ under the Tax Act. These funds will boost the Battery Hill Project in New Brunswick.

Finder Warrants and Commissions Paid

The Private Placement involved paying $63,371 in cash commissions and issuing 576,099 finder warrants. Lead finder GloRes Securities Inc., along with Marquest Asset Management Inc., facilitated this financing. Warrants granted allow the purchase of company common shares at $0.15 until December 22, 2025.

The issued securities will have a four-month hold period, expiring on April 23, 2024. Final regulatory approvals, including sanction by the TSX Venture Exchange, are pending.

Manganese X Energy Corp strives to supply materials for lithium-ion batteries, aiming to become a major player in the North American supply chain.

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