Manganese X Energy Corp. announced a non-brokered private placement of 9,015,958 flow-through units at a price of CAD 0.23 per unit for gross proceeds of CAD 2,073,670.34 on December 7, 2022. Each flow-through unit shall consist of one common share of the company and one-half of one common share purchase warrant of the company, whereby each whole common share purchase warrant of the company shall entitle the holder thereof to purchase a non-flow through common share of the company at an exercise price of CAD 0.32 for a period of 24 months from the date of issuance.

All securities issued in connection with the transaction will be subject to a hold period of four months and one day from the date of closing of the transaction. The transaction is subject to receipt of all necessary regulatory approvals, including acceptance by the TSX Venture Exchange. The transaction will be closing in mid-December 2022.

Finder's fees payable to certain qualified finders will be applicable.