(MN.V) Jan. 11, 2019 – Manganese X Energy Corp. has approved the grant of 800,000 stock options to purchase common shares of the company to certain directors and consultants. The options were issued with an exercise price of $0.12 per common share. The options granted to the company’s directors and consultants have a term of two years vesting immediately. The issuance of the options is subject to all necessary approvals by the TSX Venture Exchange.
In addition, the company announces that its board has approved the extension of the expiry date of certain outstanding warrants to purchase 4.387 million common shares in the capital of the company due to expire Jan. 25 held by eligible persons, to July 25 at the same exercise price of $0.25. The other conditions for granting such remain the same. The extension of term of warrants is subject to all necessary approvals by the TSX Venture Exchange.
All securities issued are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.
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, the company is striving to achieve new methodologies emanating from environmentally friendly green/zero emissions technologies, while processing manganese at a lower competitive cost.Disclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.