American Manganese Reviews 2021 Highlights
December 22, 2021 - Surrey, BC – Manganese Inc. ("AMY" or the "Company") is pleased to share a year-end review of the significant company highlights that have been fundamental in strategically positioning American Manganese for the new year.
Lithium-ion Battery Cathode Recycling (RecycLiCo) Highlights:
- Achieved successful recycling and upcycling of lithium-ion battery black mass and production scrap into NMC532, NMC622, and NMC811 cathode precursor and sent samples to third parties for product validation
- Achieved successful production of 99.99% pure lithium sulfate, from waste battery material, and sent samples to third parties for product validation
- Began modelling, design, and preparation of the RecycLiCo demonstration plant
- Signed Memorandum of Understanding with Italvolt SpA to develop commercial recycling plant alongside Italvolt's planned Gigafactory in Scarmagno, Italy
- Received advisory services and funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) to support a pilot project, entitled, 'Demonstration of Continuous Recycling of Cathode Material from Lithium-ion Battery Production Scrap'
- Awarded Solar Impulse Efficient Solution Label, an initiative by the Solar Impulse Foundation to select solutions that meet high standards in profitability and sustainability
- Technical battery recycling papers published in the Journal of the Electrochemical Society and International Journal of Green Energy
- Issued patents in South Korea, Japan, India and received a patent ‘notice of allowance' in Canada
Wenden Stockpile Reclamation and Advanced Material Processing Project Highlights:
- Completed and submitted all identified milestones in the U.S. Defense Logistics Agency (DLA) awarded project to perform work on the United States Government's manganese stockpile located near Wenden, Arizona
- Achieved 99% manganese extraction results and produced electrolytic manganese metal (EMM) from Wenden Stockpile material.
Financing Highlights:
- Closed brokered private placement for gross proceeds of C$20 million. The Company issued up to 20,000,000 Common Shares at a purchase price of C$1.00 per and associated Warrant at a purchase price of C$1.25.
- Received approximately $6,000,000 from the exercise of issued warrants and options
"We have had an incredible year on multiple fronts and laid a strong foundation for the company to continue to grow and innovate in 2022. The RecycLiCo and Wenden projects have demonstrated their added value and differentiation in the market, and we have a unique opportunity to be involved in shifting trends and a growing market focused on cleantech and critical battery metals. Our financing highlights also represent an important milestone that enhances our ability to execute on our growth strategy," said Larry Reaugh, President and CEO of American Manganese. "Thank you to our team and shareholders for a great year. Have a happy holiday season and a prosperous new year."
American Manganese Inc. is a critical metals company focused on recycling and upcycling lithium-ion battery waste into high-value battery cathode materials, using its closed-loop RecycLiCo™ process. With minimal processing steps and over 99% extraction of lithium, cobalt, nickel, and manganese, the upcycling process creates valuable lithium-ion battery materials for direct integration into the re-manufacturing of new lithium-ion batteries.
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer
Telephone: 778 574 4444
Email: [email protected]
Neither the 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 release. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward–looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
