Manganese X Energy Debt Settlement – Company Now Debt Free
Manganese X Energy Debt Settlement – Company Now Debt Free
January 10, 2017: Montreal, Quebec, Canada. Manganese X Energy Corp. (the “ Company”) (TSXV:MN, FRA:9SC2,
OTCMKTS:SNCGF) is pleased to announce that it has received approval from the TSX Venture Exchange to issue 130,000
shares to various creditors at a deemed price of $0.50 per share, reducing the Company’s outstanding debt by $65,000. The
130,000 common shares have been issued, and will be subject to a four-month hold period ending April 13, 2017. The debt
settlement is part of an ongoing reorganization of the Company that has resulted in the Company having reduced its debt by
over $1 million by negotiation with suppliers who agreed to reduce and settle their debt for shares of the Company on
average of $0.10 per dollar. The Company has no short or long term debt at the moment only current payables in line with
normal operations.
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 striving to achieve new methodologies emanating from environmentally friendly
green/zero emissions ,while processing manganese.at a lowe r 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 Prov ider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.