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