Montreal, Quebec--(Newsfile Corp. - April 9, 2021) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (OTC Pink: MNXXF) ("Manganese X" or the "Company") wishes to clarify the record date (the "Share Distribution Record Date") for determining the shareholders of the Company entitled to receive the securities being distributed under its previously-announced statutory plan of arrangement (the "Arrangement") to spin out its Lac Aux Bouleaux graphite property, located in the province of Quebec. Ahead of the Company's special meeting of shareholders (the "Meeting"), to be held on Monday, April 12, 2021, the Company clarifies that the Company has deferred the Share Distribution Record Date, pending the finalization of a definitive Closing date. The Company intends to announce the Share Distribution Record Date in due course, once determined, by way of a further press release.
Further details of the Arrangement, including the Meeting (including the date and time thereof, and the shareholders of the Company entitled to vote thereat) may be found in the management information circular dated March 16, 2021 prepared by the Company in connection with the Meeting (the "Circular"). All shareholders of the Company are urged to carefully read the Circular, available under the Company's profile on SEDAR at www.sedar.com, as it contains additional important information concerning the Arrangement or on the Company's website at www.manganesexenergycorp.com.
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 Notes
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press 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 the the Arrangement and the Share Distribution Record Date (including the timing of the announcement thereof), and the timing of the Meeting to approve the Arrangement. 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 Company's dependence on management and the loss of key personnel, (iii) the receipt of the requisite shareholder, court, regulatory and stock exchange approvals in connection with the Arrangement, and (iv) the Company's business, including the mining industry in general, as described in the Company's public filings on SEDAR, which readers are encouraged to review in detail prior to any transaction involving the securities of the Company. 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 and Graphano will satisfy, in a timely manner, all conditions precedent to completion of the Arrangement, and (ii) all necessary regulatory and shareholder approvals will be obtained in a timely manner, and on terms acceptable to the Company), 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.
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