Manganese X Notes and Applauds President Biden’s Executive Order to Secure America’s Critical Supply Chains for Manganese and Electric Vehicle Batteries
Montréal, Québec, Canada, March 2, 2021 Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2)(OTC: MNXXF ) (the “Company”) Manganese X Energy is pleased to announce that it applauds President Biden’s new Executive Order aiming to secure America’s Critical Supply Chains by mandating a 100-day review of critical product supply chains in the US.
The Executive Order (the “Order”), signed February 24th, focuses on identifying and prioritizing critical and essential goods and materials, including computer chips, large capacity batteries, active pharmaceutical ingredients and critical and strategic materials, as well as rare-earth minerals. The Order sets out the intention of working with US allies and partners, specifically “assessing allied and partner actions”, as a part of the process and offering “possible avenues for international engagement”. The US government critical minerals list consists of commonly used Lithium-ion battery materials, including manganese and graphite, both of which the Company is vitally involved in. The Order is: https://www.whitehouse.gov/briefing-room/presidential-actions/2021/02/24/executive-order-on-americas-supply-chains/
Manganese X Energy CEO Martin Kepman commented, “The Executive Order is extremely favorable to the Company’s efforts to commercialize our manganese production. The US Administration’s effort to secure domestic supply chains puts our company at the center of a North American bullseye. Our Battery Hill, New Brunswick manganese property is in close proximity to the US border. Further, as duly noted, there is currently zero North American manganese production. Manganese X Energy is positioning to cure this domestic vulnerability by accelerating our commercialization efforts to be a supplier to the growing North American Electric Vehicle (EV) sector. Additionally, our subsidiary, Graphano Energy, soon to be spun out and separately listed as GEL, is aiming to be one of North America’s largest graphite producers.”
A report produced by Deloitte Touche Tohmatsu forecasts that globally there will be an annual growth rate in EV sales of 29 percent, from 2.5 million in 2020 to 11.2 million in 2025, and reaching 31.1 million by 2030.
CEO Martin Kepman stated, “Tesla recently had a research development breakthrough by removing cobalt and increasing the percentage of manganese used in the Nickel Manganese lithium-ion EV battery. Tesla’s researchers discovered that this resulted in their company’s EV batteries having five times more energy capacity, making them six times more powerful, and enabling a 16 percent range increase for Tesla’s vehicles.”
“While utilizing these EV batteries, the future in general looks very promising for manganese in the Lithium-ion battery world. Manganese is poised to become one of the primary elements and the catalyst in the manufacturing of all new Lithium-ion batteries and future backup energy storage products, harvested from clean energy produced by solar, wind and tidal systems.”
Graphano Energy Ltd.:
Manganese X Energy also owns a significant graphite asset in Quebec under its subsidiary Graphano Energy Limited (“Graphano”) and, as already noted, since graphite is used in Lithium-ion batteries, it is listed as a critical mineral in President Biden’s Executive Order.
Manganese X Energy shareholders can look forward to an attractive and compelling share dividend to be spun out under Graphano, receiving one share of Graphano for every eight shares of Manganese X Energy shares held.
Manganese X Energy has scheduled a special Shareholders’ meeting on April 12, 2021 to approve this special share dividend.
About Manganese X Energy
The Company’s mission is to acquire and advance high potential manganese mining prospects located in North America with the intent of supplying value added materials to the lithium ion battery and other alternative energy industries. In addition, Manganese X Energy is striving to achieve new methodologies emanating from technologies for environmentally geographically ethical and friendly green/zero emissions, while processing manganese at a lower competitive cost.
For more information, visit the website at www.manganesexenergycorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
CEO and Director
Cautionary Notes: General and Forward-Looking Statements
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This news release contains “forward-looking information” within the meaning of Canadian securities legislation. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Forward-looking information includes information including statements with respect to the future exploration performance of the Company. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by the Company at the date the forward-looking information is provided, are inherently subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information. The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information may include, but are not limited to (i) adverse market conditions; (ii) risks inherent in the mining industry in general; (iii) the Exchange not approving the Offering; or (iv) risks generally associated with the Company’s business, as described in the Company’s public filings on SEDAR, which readers are encouraged to review in detail prior to any transaction involving the securities of the Company. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date.