Breaking News: Manganese X Energy Corp. Successfully Closes Flow-Through Private Placement Financing!
Description:
Montreal, Quebec–(Newsfile Corp. – December 23, 2024) – Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC) (TRADEGATE: 9SC) (OTCQB: MNXXF) (the “Company” or “Manganese X”) is pleased to announce it that it has closed a non-brokered private placement financing (the “Private Placement”) issuing an aggregate of 10,600,000 flow-through common shares of the Company (the “FT Shares”, and each, an “FT Share”) at a price of $0.035 per FT Share, thereby raising total gross proceeds of $371,000 (the “Proceeds”). Each FT Share constitutes a “flow-through share” within the meaning of the Income Tax Act (Canada) (the “Tax Act”) and the Proceeds will be used by the Company for exploration and related programs, which qualify as “Canadian exploration expenses” and “flow-through critical mineral mining expenditures”, as such terms are defined in the Tax Act, in respect of Manganese X’s Battery Hill Project in New Brunswick.
How this will affect me:
This successful private placement financing by Manganese X Energy Corp. may have positive implications for investors like myself. The raising of total gross proceeds of $371,000 will allow the Company to further explore and develop their Battery Hill Project in New Brunswick. This could potentially lead to the discovery of valuable mineral resources, which in turn may result in an increase in the Company’s stock value, benefiting investors who have invested in Manganese X Energy Corp.
How this will affect the world:
The successful closure of this flow-through private placement financing by Manganese X Energy Corp. indicates a commitment to exploration and development in the critical mineral mining sector. By utilizing the raised funds for exploration and related programs, the Company is contributing to the advancement of sustainable mining practices and the discovery of essential minerals. This could have far-reaching effects on the world by potentially providing a new source of critical minerals that are essential for various industries and technologies.
Conclusion:
In conclusion, the successful completion of the flow-through private placement financing by Manganese X Energy Corp. is a positive development for both investors and the world at large. This funding will enable the Company to continue its exploration and development efforts at the Battery Hill Project, potentially leading to valuable mineral discoveries. This not only benefits investors by increasing the Company’s stock value but also contributes to the global supply of critical minerals, supporting industries and technologies that rely on these resources.
