Manganese X Completes Investment into Mountain Spring Oil and Gas Limited
Manganese X Completes Investment into Mountain
Spring Oil and Gas Limited
Montreal, Quebec--(Newsfile Corp. - October 11, 2018) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (TRADEGATE:
9SC2) (OTC Pink: SNCGF)
(the "Company" or "Manganese X") is pleased to announce that on Tuesday October
9
th
2018 the
board of directors
of Manganese X approved the purchase of 750,000 shares by way of a private placement at
$1 a share. This
represents ownership of 15% of Mountain Spring Oil and Gas Limited ("MSOG") by Manganese X. Subsequent to this
event
Manganese X was given the opportunity to purchase additional shares into MSOG. Talks are ongoing. Manganese X will update
the shareholders next week.
Manganese X is pleased to announce a non-brokered non-commissioned private placement financing to raise up to $400,000
(the "Offering"). The Offering consists of 2 million flow-through" shares ("FT Shares") at a price of $0.20 per share to raise
aggregate proceeds of up to $400,000, It is currently anticipated that certain principals and insiders of the Company may
participate in the Offering. Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all
necessary approvals, including the approval of the Exchange and the securities regulatory authorities. There can be no
assurance that the Offering will be completed, whether in whole or in part. All securities issued by the Company in connection
with the Offering will be subject to a statutory four month hold period. Proceeds from the Offering will be used for exploration in
our Peter Lake property as well as our Battery Hill property.
About Manganese X Energy
Manganese X Energy's mission is to acquire and advance high potential manganese
as well
as additional mineral
prospects
located in North America with the intent of supplying value added materials to the lithium ion battery and other alternative
energy industries as well as the steel industry. In addition, our company is striving to achieve new methodologies emanating
with environmentally friendly green/zero emissions processes and producing manganese at a lower competitive cost.
For more information, visit the website at
www.manganesexenergycorp.com
.
ON BEHALF OF THE BOARD OF DIRECTORS
Martin Kepman
CEO and Director
1-514-802-1814
Cautionary Note Regarding Forward-Looking Statements:
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.
This news release contains "forward-looking information" including statements with respect to the future exploration performance
of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to be materially different from any future results,
performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well
as others, are disclosed within the Company's filing on SEDAR, which investors are encouraged to review prior to any
transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of
this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking
information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader
is cautioned not to place undue reliance on such forward-looking information.