Critical metals group American Manganese Inc (CVE:AMY) (OTCMKTS:AMYZF) announced Friday it is closing a third tranche of its non-brokered private placement of up to 10,000 units of the company, priced at C$0.15 per unit.
Each unit will consist of one common share of American Manganese and one warrant.
Each warrant can be exercised for one share for $0.20 for two years from the date of closing of the offering.
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The company said it has raised gross proceeds of C$350,210 in this third tranche of the private placement, and all securities issued under this second tranche are subject to a four-month hold period which expires on May 12, 2019.
American Manganese is a critical metal company with a patent-approved process for the recovery of metals from lithium-ion batteries such as cobalt, lithium, nickel, manganese, and aluminum.
The company said the private placement is subject to final acceptance by the TSX Venture Exchange and conditional acceptance was granted on December 3, 2018.
Shares of American Manganese were at C$0.14 on Friday.