Montreal, Quebec--(Newsfile Corp. - March 1, 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 Limited.:
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 Corp.
Manganese X's mission is to advance its Battery Hill project into production, with the intent of supplying value-added materials to the lithium-ion battery and other alternative energy industries , The Company is also striving to achieve new carbon-friendly more efficient methodologies, while processing manganese at a lower competitive cost. The company is the only manganese company in North America moving forward toward commercialization of a manganese deposit.
Subsidiary Disruptive Battery Corp.'s mission is to develop an HVAC (heating, ventilation and air conditioning) air purification delivery system for cleaner and healthier air, aiming to mitigate COVID-19 and other contaminants on surfaces and in the air. For more information visit the website at www.manganesexenergycorp.com.
On behalf of the Board of Directors of
MANGANESE X ENERGY CORP.
CEO and Director
Cautionary Note Regarding Forward-Looking Statements:
Neither 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 contains "forward-looking information" including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company's filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader is cautioned not to place undue reliance on such forward-looking information.
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