Warrant Exercise Proceeds Total $731,720
SURREY, BC / ACCESSWIRE / January 10, 2020 /American Manganese Inc. (TSXV:AMY)(OTC:AMYZF)(FSE:2AM) ("AMY" or the "Company") is pleased to announce that the Company issued 3,658,600 units of commons shares pursuant to warrant exercise at $0.20 per share receiving total proceeds of $731,720. The Company is in a solid financial position to move forward on the immediate goals as well as on going testing at Kemetco Research as follows:
Immediate Goals
- Recycling test results on lithium-ion battery materials from the US Department of Energy National Labs Project are expected shortly.
- The Company has applied for an initial grant from the Canadian Government for the Lithium-ion Battery Recycling Research Program.
- Management plans to meet with Battery Safety Solutions B.V. ("BSS") early this year to discuss and finalize the Memorandum of Understanding ("MOU") entered into on December 11, 2018.
- Kemetco will prepare a third US patent application in the first quarter of 2020 to optimize the Company's battery recycling opportunity.
- The Company has met with and requested a Preliminary Economic Assessment and design proposal for a 3 tonne per day commercial demonstration plant from Kemetco Research utilizing the Company's patented process.
The Company will continue Research and Development on battery materials received from lithium-ion battery related entities.
"These are the major milestones as we enter 2020," said Larry Reaugh, CEO of AMY. "The AMY process is being recognized by major government labs, and key private sector players in the EV Battery markets, even as we continue to build our IP portfolio via the patent process. All of this creates momentum as we move toward a 3 tonne per day processing plant that will demonstrate the commercial potential of our process."
American Manganese Inc. is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCoTM Patented Process. The process provides high extraction of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum at high purity, with minimal processing steps. American Manganese Inc. aims to commercialize its breakthrough RecycLiCoTM Patented Process and become an industry leader in recycling cathode materials from spent lithium-ion batteries.
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer
Telephone: 778 574 4444
Email: [email protected]
www.americanmanganeseinc.com
www.recyclico.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
SOURCE: American Manganese Inc.