Each common share shall qualify as a “flow-through share” for the purposes of the Income Tax
Manganese X Energy Corp. Announces Private Placement Financing
// THIS PRESS RELEASE IS NOT INTENDED FOR RELEASE OR DISSEMINATION IN THE UNITED STATES //
Montreal, Quebec – November 26, 2024 - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC)
(TRADEGATE: 9SC) (OTCQB: MNXXF) (the "Company" or "Manganese X") is pleased to
announce that it has arranged a non-brokered private placement offering of up to 11,428,571
common shares of the Company at a price of $0.035 per common share for aggregate proceeds
of up to $400,000 (the “Offering”).
Each common share shall qualify as a “flow-through share” for the purposes of the Income Tax
Act (Canada) (a “FT Share”). Proceeds from the Offering shall be used for Canadian Exploration
Expenses (“ CEE”) and "flow -through mining expenditures" as defined in the Income Tax
Act (Canada) to be incurred on or before December 31, 202 5, and renounced with an effective
date no later than December 31, 2024, to the initial subscribers of the FT Shares in an aggregate
amount not less than the subscription proceeds.
All securitie s issued in connection with the Offering will be subject to a hold period under
applicable Canadian securities laws expiring four months and one day from the date of closing of
the Offering. Subject to receipt of all necessary regulatory approvals, including acceptance by the
TSX Venture Exchange, Manganese X anticipates that the Offering will be clos ing in mid-
December 2024. Finder’s fees payable to certain qualified finders will be applicable.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities offered have not been and will not be registered
under the United States Securities Act of 1933 , as amended (the "U.S. Securities Act") or any
state securities laws and may not be offered or sold within the United States or to, or for the
account or benefit of, U.S. persons unless registered under the U.S. Securities Act and applicable
state securities laws, unless an exemption from such registration is available.
About Manganese X Energy Corp.
Manganese X's mission is to advance its Battery Hill project into production, thereby becoming
the first public actively -traded manganese mining company in Canada and the U.S. to
commercialize EV compliant high purity manganese, potentially supplying the North American
supply chain. The Company intends on supplying value-added materials to the lithium-ion battery
and other alternative energy industries, as well as striving to achieve new carbon -friendly more
efficient methodologies, while processing manganese at a lower competitive cost.
For more information visit the website at www.manganesexenergycorp.com.
On behalf of the Board of Directors of
MANGANESE X ENERGY CORP.
Martin Kepman
CEO and Director
Email: [email protected]
Tel: 1-514-802-1814
Neither 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.
Cautionary Note Regarding Forward-Looking Statements:
This news release contains certain "forward -looking information" and "forward -looking
statements" (collectively " forward-looking statements ") within the meaning of applicable
securities legislation. All statements, other than statements of historical fact, included herein,
without limitation, are forward-looking statements. Forward-looking statements are frequently, but
not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates",
"potential", "possible", and similar expressions, or statements that events, conditions, or results
"will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news
release relate to, among other things, completion of the Offering, including the receipt of approvals
thereof and the use of proceeds related thereto. Actual future results may differ materially. There
can be no assurance that such statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such statements. Forward -looking
statements reflect the beliefs, opinions and projections on the date the statements are made and
are based upon a number of assumptions and estimates that, while considered reasonable by
the Company, are inherently subject to significant business, economic, competitive, political and
social uncertainties and contingencies. Many factors, both known and unknown, could cause
actual results, performance or achievements to be materially different from the results,
performance or achievements that are or may be expressed or imp lied by such forward-looking
statements and the parties have made assumptions and estimates based on or related to many
of these factors. Such factors include, without limitation, the inability of the Company to obtain all
necessary approvals related to the Offering. Readers should not place undue reliance on the
forward-looking statements and information contained in this news release concerning these
items. The Company does not assume any obligation to update the forward -looking statements
of beliefs, opini ons, projections, or other factors, should they change, except as required by
applicable securities laws.