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American Manganese Inc.

American Manganese closes C$1.6 million financing for battery recycling program; shares rise

American Manganese is developing the RecycLiCo system of recycling lithium-ion batteries to extract cathode metals such as lithium, cobalt, nickel and manganese at battery-grade purity

batteries
The company is focused on supplying the demand for mined-battery raw materials

American Manganese Inc (CVE:AMY) (OTCMKTS:AMYZF) announced Friday that it raised a total of C$1.6 million to advance its patented lithium-ion battery recycling process.

Shares of American Manganese jumped 3.6% in Toronto to C$0.15 on Friday afternoon. On the OTC market, the company’s stock was trading at US$0.12.

READ: American Manganese introduces RecycLiCo, a breakthrough technology for recycling lithium-ion batteries

The fourth and final tranche of this oversubscribed private placement garnered nearly C$570,000.

In the final tranche, the Surrey, BC-based company issued nearly 3.8 shares of the company at $0.15 per share. Each share comprises one unit and one warrant, which is exercisable at $0.20 per share for two years following the warrant issuance.

American Manganese is developing the RecycLiCo system of recycling lithium-ion batteries to extract cathode metals such as lithium, cobalt, nickel and manganese at battery-grade purity.

Contact Angela at [email protected]

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Quick facts: American Manganese Inc.

Price: $0.22

Market: TSX-V
Market Cap: $37.72 m
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American Manganese sees impressive results from testing on recycling cathodes

American Manganese (CVE:AMY) President and CEO Larry Reaugh sat down with Steve Darling from Proactive Investors Vancouver to discuss their latest result of pilot plant testing to recycle lithium batteries. Reaugh also touched on another aspect of their business and their 100% owned...

on 11/7/19

2 min read