Manganese X Energy Corp.: Manganese X Announces Arrangement Agreement to Complete Spin-Out of Lac Aux Bouleaux Graphite Property, and Completion of Graphano Private Placement
(TSXV: MN) (FSE: 9SC2) (OTC Pink: MNXXF) ("
Manganese X" or the "
Arrangement Agreement") with its wholly-owned subsidiary, Graphano Energy Ltd. ("
Graphano"), to spin out its Lac Aux Bouleaux graphite property, located in the province of Quebec (the "
LAB Graphite Property"). Further, the Company is pleased to announce that, in connection with the Arrangement (as defined below), Graphano completed a private placement of subscription receipts ("
Subscription Receipts") on December 22, 2020, for aggregate gross proceeds of $2,721,707, at a price of $0.05 per Subscription Receipt (the "