Manganese X Energy Corp. Announces Private Placement Financing
Manganese X Energy Corp. Announces Private Placement Financing
January 13, 2017: Montreal, Quebec, Canada. Manganese X Energy Corp. (the “ Company”) (TSXV:MN,
FRA:9SC2, OTCMKTS:SNCGF) is pleased to announ ce a non-brokered private placement financing to raise up
to $1,200,000 (the “ Offering”). The Offering is anticipated to be stru ctured as a best efforts private placement
comprised of 4,000,000 units (“Units”) of the Company at a price of $0.15 per Unit to raise aggregate proceeds
of up to $600,000, and 4,000,000 “flow-through” shares (“FT Shares”) at a price of $0.15 per FT Shares to raise
aggregate proceeds of $600,000. Each Unit will consist of one common share in the capital of the Company and
one common share purchase warrant. Each warrant w ill entitle its holder to purchase one additional common
share at an exercise price of $0.25 for a period of 24 months from the closing date of the private placement.
It is currently anticipated that certain principals and insiders of the Company may participate in the Offering.
The Company has engaged First Republic Capital Corporation (“ First Republic”) as its financial advisor and
lead finder. First Republic has commenced discussions w ith other interested firms and may elect to form a
syndicate group. It is currently anticip ated that a cash fee will be paid to finders representing 8% of the gross
proceeds raised in the Offering. Additionally, it is anticipated that finders will receive that number of
compensation warrants (“Compensation Warrants”) totaling 8% of the number of Units and FT Shares, as the
case may be, sold pursuant to the Offe ring. The Compensation Warrants are exercisable at a price of $0.15 Unit
or per shares, as the case may be, for a period of 24 months after the closing of the Offering. First Republic is to
be paid a corporate finance fee representing 2% of the gross proceeds raised in the Offering and that number of
Compensation Warrants equaling 2% of the number of Units and FT Shares sold in the Offering.
Completion of the Offering is subject to certain conditi ons including, but not limited to, the receipt of all
necessary approvals, including the approval of the Excha nge and the securities regulatory authorities. There can
be no assurance that the Offering will be completed, whet her 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, growth, resear ch and development, marke ting, and general working
capital purposes.
Manganese X Energy’s mission is to acquire and advance high potential manganese mining prospects located in
North America with the intent of supplying value added materials to the lithium ion battery and other alternative
energy industries. In addition our company is stri ving to achieve new methodologies emanating from
environmentally friendly green/zero emissions ,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
Martin Kepman
Interim CEO and Director
1-514-802-1814
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Pr ovider (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 informati on" 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, pe rformance 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 revi ew 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 assura nce that forward-looking informati on will prove to be accurate and the
reader is cautioned not to place undue reliance on such forward-looking information.