VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 12, 2010) - American
Manganese Inc. (TSX VENTURE:AMY)(PINK SHEETS:AMYZF) (the
"Company") is pleased to announce that the non-brokered private placement
originally announced on January 25, 2010 has been over-subscribed. The private
placement now consists of a total of 5,969,595 units at a price of $0.20 per
unit ("Units") for aggregate proceeds of $1,193,919.
Each Unit is
comprised of one common share of the Company plus one-half of a share purchase
warrant (the "Warrant"). Each whole Warrant entitles the holder to purchase one
common share at a price of $0.30 for two years from the date of issue. All of
the securities issued pursuant to this Offering will have a hold period
expiring four months after the closing date.
This private
placement remains subject to the acceptance of the TSX-Venture Exchange (the
"TSX") and finders' fees may be payable in accordance with the policies of the
TSX.
The proceeds
of the private placement will be used for exploration and infill reverse
circulation drilling at the Artillery Peak Manganese project as well as general
working capital.
About American
Manganese Inc.
American
Manganese Inc. is a diversified exploration and development company focusing
its attention on mineral properties and commodities used in the steel
manufacturing industry.
On behalf of
Management
AMERICAN MANGANESE INC.
Larry W. Reaugh, President and Chief
Executive Officer
This
news release may contain certain "Forward-Looking Statements" within
the meaning of Section 21E of the United States Securities Exchange Act of
1934, as amended. All statements, other than statements of historical fact,
included herein are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such statements. Important factors that could cause actual
results to differ materially from the Company's expectations are disclosed in
the Company's documents filed from time to time with the TSX-Venture Exchange,
the British Columbia Securities Commission and the US Securities and Exchange
Commission.
The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.