Manganese
X Announces
Shareholder Approval of Plan of Arrangement with Graphano Energy
Ltd. and
Appointment
of Robert
Tjandra as
New
Director
Montréal, Québec, Canada --
April 14, 2021 -- InvestorsHub NewsWire
-- Manganese X
Energy Corp. (TSXV:
MN) (FSE: 9SC2) (OTC: MNXXF) ("Manganese
X" or the
"Company")
is pleased to
announce that shareholders of the Company (the "Shareholders")
have
approved
the Company's
previously-announced statutory plan of arrangement
with Graphano Energy Ltd.
(the
"Plan of
Arrangement") to spin out its Lac Aux
Bouleaux graphite property, located in the province of
Quebec. Further, the Company is pleased to
announce that, effective immediately, the Company has appointed
Robert Tjandra to its Board of Directors.
Approval of
Plan of Arrangement
At the Company's special meeting
of Shareholders held on Monday, April 12, 2021 (the
"Meeting"),
a total of 13,548,548 common shares in the capital of the Company
("Common
Shares")
were voted in favour of the special resolution approving the
Plan of
Arrangement, representing 99.15% of the total number of the Common
Shares represented in person and by proxy at the
Meeting. The completion of the Plan of
Arrangement is subject to a number of conditions, including but not
limited to the receipt of the requisite stock exchange approvals,
and a final order of the Supreme Court of British Columbia (a
hearing for which is scheduled on April 15, 2021, unless
adjourned).
Appointment
of New Director
The Company has appointed Robert
Tjandra to its Board of Directors, effective
immediately. Mr. Tjandra brings
with him a unique
blend of professional management, leadership, and entrepreneurial
skills, and has over 25 years of combined experience working,
consulting, and developing businesses in construction, trading, oil
and gas, fintech, and cleantech. He is passionate about development
of EV and energy storage, including sustainable mining development.
Mr. Tjandra
serves as
the President, Chief Operating Officer, and a
director of Canbud Distribution Corp. (CSE: CBDX), and
as a
director of
Florence Wealth Management Inc. (a registered Exempt Market Dealer
in Canada). He is also a director of Electrum Charging Solutions,
a private EV charging technology company.
"We
are delighted to welcome Robert
Tjandra to Company's board of directors", said Martin Kepman, Chief Executive
Officer of the Company. " Robert brings a wealth of knowledge
and experience, which will be a tremendous resource
for Manganese X as we continue to execute on
our business strategy, drive growth and
build long-term shareholder value."
In accordance with the
Company's stock option plan, the Company has granted to Mr. Tjandra
an aggregate of 300,000 options to purchase Common Shares, with
each option exercisable at an exercise price of $0.50 for a period
of five years.
About
Manganese X
Manganese X's mission is to
advance its Battery Hill project into production, with the intent
of supplying value-added materials to the lithium-ion battery and
other alternative energy industries, The company is also striving to
achieve new carbon-friendly more efficient methodologies, while
processing manganese at a lower competitive cost. The company is
moving toward commercialization of a manganese deposit in
Canada
Subsidiary Disruptive Battery's
mission is to develop an HVAC air purification delivery system for
cleaner and healthier air, aiming to mitigate COVID-19 and other
contaminants on surfaces and in the air.
For more
information visit our website at www.manganesexenergycorp.com.
On Behalf of
the Board of Directors
Martin
Kepman
CEO and
Director
E-mail: martin@kepman.com
Telephone:
1-514-802-1814
Cautionary
Note Regarding Forward Looking Information
Neither the
TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
Certain
information in this press release constitutes forward-looking
statements under applicable securities laws. Any statements that
are contained in this press release that are not statements of
historical fact may be deemed to be forward-looking statements.
Forward looking statements are often identified by terms such as
"may", "should", "anticipate", "expect", "potential", "believe",
"intend" or the negative of these terms and similar expressions.
Such forward-looking statements include, but are not limited to,
the Company's expectations about (i)
the
terms, and timing for the completion of, the Plan of
Arrangement,
and
(ii)
the
timing of the
receipt of the final order of the Supreme Court of British
Columbia.
Forward-looking
statements necessarily involve known and unknown risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied in such forward-looking
statements, including,
without limitation, risks relating to (i) the social and economic
impacts of the COVID-19 pandemic, (ii) the receipt of the requisite
shareholder, court, regulatory and stock exchange approvals in
connection with the Arrangement, and
(iii) the
Company's business, including the mining industry in general, as
described in the Company's public filings on SEDAR. The
foregoing list is not intended to be exhaustive of the factors that
may affect any of the Company's forward-looking statements or
information. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially, there may be other factors that cause results not to be
as anticipated, estimated, described or intended. Readers are
cautioned not to place undue reliance on forward-looking statements
as there can be no assurance that the plans, intentions or
expectations upon which they are placed will occur. Readers are
further cautioned that the assumptions used in the preparation of
such forward-looking statements (including, but not limited to, the
assumption that (i) the Company will satisfy, in a timely manner,
all conditions precedent to completion of the Arrangement, (ii) all
regulatory and stock
exchange approvals
will be obtained in a timely manner, and on terms acceptable to the
Company, and
(iii) the
circumstances surrounding the COVID-19 pandemic, although evolving,
will stabilize and will not materially impede or affect the ability
of the Company to
consummate the Arrangement), although
considered reasonable by management of the Company at the time of
preparation, may prove to be imprecise and result in actual results
differing materially from those anticipated, and as such, undue
reliance should not be placed on forward-looking statements.
The
forward-looking statements included in this press release are made
as of the date of this press release and the Company does not
undertake an obligation to publicly update such forward-looking
statements to reflect new information, subsequent events or
otherwise unless required by applicable securities laws.
Forward-looking statements, forward-looking financial information
and other metrics presented herein are not intended as guidance or
projections for the periods referenced herein or any future
periods, and in particular, past performance is not an indicator of
future results and the results of the Company in this press release
may not be indicative of, and are not an estimate, forecast or
projection of the Company's future results. Forward-looking
statements contained in this press release are expressly qualified
by this cautionary statement.
