Toronto, Ontario and Washington, D.C.--(Newsfile Corp. - July 15, 2026) - Canadian Manganese Company Inc. (CBOE CA: CDMN) ("Canadian Manganese" or "CMC") and GreenMet Inc. ("GreenMet") are pleased to announce the execution of a Strategic Development and Capital Formation Letter of Intent, appointing GreenMet as the exclusive Strategic Development and Capital Formation Partner for the North American Critical Manganese Alliance ("NACMA").

Under the Letter of Intent, GreenMet will lead the development and execution of a comprehensive strategic capital and partnership initiative targeting up to US $1 billion in long-term capital commitments to support the phased development of NACMA.

The initiative is expected to encompass the development of the Woodstock Project in New Brunswick, construction of a Canadian hydrometallurgical processing platform, establishment of downstream specialty processing and advanced manufacturing capabilities in the United States, and future expansion of the integrated North American manganese supply chain.

Unlike a traditional project financing mandate, GreenMet's appointment reflects a broader strategic role encompassing capital formation, industrial partnerships, government engagement, commercialization and long-term platform development.

Building an Industrial Platform

The targeted capital program is intended to support multiple phases of development across the NACMA platform, including:

• development of the Woodstock Project;
• construction of Canadian beneficiation and hydrometallurgical refining facilities;
• development of United States specialty processing operations;
• supporting infrastructure;
• strategic acquisitions;
• future industrial expansion.

The Parties anticipate evaluating a broad range of capital sources including strategic industry participants, institutional investors, infrastructure funds, export credit agencies, government supported financing programs and other long-term capital providers.

Executive Commentary

W. Matthew Allas, President and Chief Executive Officer of CMC, commented:

"GreenMet's appointment represents an important milestone in our strategy to develop NACMA as an integrated North American industrial platform. Our objective extends well beyond financing a mining project. We are creating a strategic critical minerals platform that combines world-class Canadian resources with advanced North American processing and manufacturing capabilities. GreenMet brings the strategic development expertise required to coordinate capital, industrial partnerships and government engagement necessary to realize that vision."

Drew Horn, Chief Executive Officer of GreenMet, commented:

"We are pleased to be selected as the Strategic Development and Capital Formation Partner for NACMA. Our mandate is to coordinate a comprehensive capital and partnership strategy capable of supporting the long-term development of what we believe can become North America's premier integrated manganese supply chain. The targeted capital program of up to US $1 billion reflects the scale of the opportunity and the long-term industrial platform envisioned by the Parties."

Strategic Capital Initiative

The Parties intend to pursue a phased capital program that may include:

• strategic equity investments;
• project financing;
• government-supported funding;
• export credit financing;
• infrastructure capital;
• industrial partnerships;
• OEM participation;
• institutional investment.

The capital initiative will be structured to maximize long-term strategic alignment while supporting phased development of NACMA's Canadian and United States operations.

About GreenMet Inc.

GreenMet Inc. is focused on developing integrated critical minerals platforms through strategic partnerships, industrial investment and long-term capital solutions.

About Canadian Manganese Company Inc.

Canadian Manganese Company Inc. is advancing the Woodstock Project in New Brunswick, Canada, North America's most significant manganese carbonate development projects and the foundational resource supporting the North American Critical Manganese Alliance.

About the North American Critical Manganese Alliance (NACMA)

The North American Critical Manganese Alliance (NACMA) is a strategic collaboration established by Canadian Manganese Company Inc., GreenMet Inc., AmForge LLC and Flash Metals USA, Inc. to develop an integrated Canada-United States manganese supply chain supporting advanced manufacturing, defense, aerospace, energy storage and other strategic industries through the coordinated development of mining, refining, specialty processing and advanced manufacturing capabilities.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305242

Source: Canadian Manganese Company Inc.