Manganese X Energy Corp. Announces Graphano to Commence Trading on Thursday September 30, 2021
Montréal, Québec--(Newsfile Corp. - September 28, 2021) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (OTCQB: MNXXF) ("Manganese X") and Graphano Energy Limited ("Graphano") (TSXV: GEL) are pleased to announce that Graphano has been approved to begin trading through the facilities of the TSX Venture Exchange (the "TSXV" or the "Exchange") to begin on Thursday September 30, 2021 under the trading symbol "GEL".
While Manganese X and Graphano regret the earlier delays with respect to the commencement of trading, they are very pleased that the Exchange has advised that a Bulletin will be issued on September 28, 2021 to announce the commencement of trading on September 30, 2021.
Martin Kepman, CEO of Manganese X, said, "Although the spin-out process has taken much longer than anticipated, it has now come to a successful conclusion, and we are thrilled to announce the commencement of trading of Graphano's shares on the TSXV. We are also pleased to announce that the Graphano shares which were issued at $0.05 per share have been consolidated on a 6.5:1 basis and are now have a revised deemed issuance price of $0.325 per Graphano share."
Luisa Moreno, CEO of Graphano, commented, "While the delays were disappointing and frustrating, the end result is the right one; Graphano will be trading as a Tier 2 mining company of the Exchange, and we look forward to making our many shareholders very happy with the rapid progress that we have planned on the LAB Project. We also intend to be reviewing other possible acquisition opportunities as we are able to identify them with a view to becoming a significant exploration and development company of technology minerals. Please stay tuned."
About Manganese X Energy Corp.
Manganese X's mission is to advance its Battery Hill project into production, with the intent of supplying uncommonly advanced value-added materials to the lithium-ion battery and other alternative energy industries. The company is also striving to achieve new environment-friendly more efficient methodologies, while processing manganese at a lower competitive cost. The company is the only publicly traded manganese company in Canada and the USA moving rapidly toward commercialization of a manganese deposit.
Subsidiary Disruptive Battery Corp.'s mission is to develop an HVAC (heating, ventilation and air conditioning) 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 the website at www.manganesexenergycorp.com.
About Graphano Energy Limited
Graphano is a mining company that is focused on evaluating, acquiring and developing graphite resources with potential-from exploration to production. Graphite is one of the most in-demand technology minerals that is required for a green and sustainable world. Graphano has state-of-the-art, environmentally friendly mining technology. Our property, located in Quebec, Canada, has historically been a natural resource for graphite. With the demand for graphite growing in some of the most prominent and cutting-edge industries, such as lithium batteries in electric cars and robotics, we have updated our technology to meet the demands of the future.
On behalf of the Board of Directors of
MANGANESE X ENERGY CORP.
CEO and Director
On behalf of the Board of Directors of
GRAPHANO ENERGY LIMITED
CEO and Director
Cautionary Note Regarding Forward-Looking Statements:
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: (i) the expectations regarding the timing for the listing of Graphano's shares on the TSXV; (ii) statements with respect to the LAB Project; (iii) statements with respect to the commercialization of a manganese deposit; and (iv) the publishing of a Preliminary Economic Assessment with respect to the manganese deposit.
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) all regulatory and stock exchange approvals will be obtained in a timely manner, and on terms acceptable to the companies, and (ii) the circumstances surrounding the COVID-19 pandemic, although evolving, will stabilize and will not materially impede or affect the ability of the companies to achieve its strategic goals, although considered reasonable by management of the companies 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.
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 business of the companies, including the mining industry in general, as described in the public filings of the companies on SEDAR; (iii) the companies' potential inability to continue as a going concern; and (iv) risks with respect to a collapse in the value of manganese and lithium.
The foregoing list is not intended to be exhaustive of the factors that may affect any of the companies' forward-looking statements or information. Although the companies have 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. The forward-looking statements included in this press release are made as of the date of this press release and the companies do 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 companies in this press release may not be indicative of, and are not an estimate, forecast or projection of the companies' future results. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
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