Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. (“American Manganese” or “AMI” or the “Company”), (TSX.V: AMY; Pink Sheets: AMYZF; Frankfurt: 2AM), is pleased to announce that the Company intends to complete a non-brokered private placement for gross proceeds of up to $1, 500, 000 by way of a unit offering at a price of $0.24 per unit (the “Offering”). Each unit will consist of one common share and one purchase warrant. Each warrant will be exercisable for one common share at a price of $0.30 per common share for a period of two years from the date of closing of the Offering.
The proceeds will be primarily used for general working capital and ongoing research.
All securities issued pursuant to the Offering will be subject to resale restrictions for a period of four months from the closing date. This offering is subject to the approval of the regulatory authorities and finder’s fees may be paid in accordance with the TSX Venture Exchange policies.
Click here to read the original article.