Core Points - Manganese X Energy Corp. successfully closed a non-brokered private placement, raising gross proceeds of $2.1 million through the issuance of 60 million subscription receipts at a price of $0.035 each [1][2] - The proceeds will be held in escrow until necessary shareholder and regulatory approvals are obtained, including the creation of a new "Control Person" under TSX Venture Exchange policies [2][4] - Upon receiving approvals, each subscription receipt will convert into one unit, consisting of one common share and one-half of a share purchase warrant, with the warrant allowing the purchase of additional shares at $0.06 each within 36 months [3][5] Investment Details - Eric Sprott, through 2176423 Ontario Ltd., invested $2 million by subscribing for 57,142,857 subscription receipts, which will represent 26.63% of the outstanding shares (non-diluted) and 35.25% (partially diluted) upon conversion [5] - A shareholder meeting is scheduled for February 28, 2025, to approve Mr. Sprott as a new Control Person of the Company [6] Use of Proceeds - The net proceeds from the offering are intended to advance the Battery Hill Project in New Brunswick, including completing a pre-feasibility study, with some funds allocated for general working capital [7] - The offering utilized the TSXV's Minimum Price Exception, allowing issuances below $0.05 per subscription receipt [7] Company Overview - Manganese X aims to advance its Battery Hill project into production, becoming the first publicly traded manganese mining company in Canada and the US to commercialize high-purity manganese for the EV market [8]

Core Points - Manganese X Energy Corp. successfully closed a non-brokered private placement, raising gross proceeds of $2.1 million through the issuance of 60 million subscription receipts at a price of $0.035 each [1][2] - The proceeds will be held in escrow until necessary shareholder and regulatory approvals are obtained, including the creation of a new "Control Person" under TSX Venture Exchange policies [2][4] - Each subscription receipt will convert into one unit consisting of one common share and one-half of a share purchase warrant, with the warrant allowing the purchase of an additional share at $0.06 within 36 months [3] Investment Details - Eric Sprott, through 2176423 Ontario Ltd., invested $2 million by subscribing for 57,142,857 subscription receipts, which will represent 26.63% of the outstanding shares (non-diluted) and 35.25% (partially diluted) upon conversion [5] - A shareholder meeting is scheduled for February 28, 2025, to approve Mr. Sprott as a new Control Person of the Company [6] Use of Proceeds - The net proceeds from the offering are intended to advance the Battery Hill Project in New Brunswick, including completing a pre-feasibility study, with some funds allocated for general working capital [7] - The offering utilized the TSXV's Minimum Price Exception, allowing issuances below $0.05 per subscription receipt [7] Company Overview - Manganese X aims to advance its Battery Hill project into production, becoming the first publicly traded manganese mining company in Canada and the US to commercialize high-purity manganese for the EV market [8]

Group 1 - The article does not provide any relevant information regarding companies or industries [1][2][3][4]

Core Viewpoint - Bunker Hill Mining Corp. has received a third tranche of US$5 million under a senior secured credit facility to support the development of its Bunker Hill Mine in Idaho, with total funding potentially reaching US$21 million [1][2]. Company Overview - Bunker Hill Mining Corp. is focused on revitalizing its historic mining asset, which includes zinc, lead, and silver deposits in Idaho's Coeur d'Alene mining district, aiming to maximize shareholder value through sustainable development practices [3][4]. Financial Support and Development Plans - The company has already received US$10 million from Sprott Private Resource Streaming and Royalty Corp. and is working towards fulfilling conditions to access the remaining funds [1][2]. - The operational team is actively engaged in discussions with strategic financing partners and government representatives to advance the restart project, which is expected to create new mining jobs and enhance American industrial security [2].

Neils ChristensenNeils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada. He has worked exclusively within the financial sector since 2007, when he started with the Canadian Economic Press. Neils can be contacted at: 1 866 925 4826 ext. 1526 nchristensen at kitco.com @Neils_cShareDisclaimer: The views expressed ...

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About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

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