Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (TRADEGATE: 9SC2)(OTC Pink: SNCGF) ( “Manganese X” ) is pleased to announce that it is in the process of completing its due diligence investigation and is progressing to acquire a 15 % equity interest in Calgary based Mountain Springs Oil and Gas Ltd. (“Mountain Springs”). The purchase price will be $500,000 cash and 2,500,000 Manganese X Energy Corp. common Shares.
Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (OTC Pink: SNCGF) (the “Company“) is pleased to announce that the Company has granted 950,000 incentive stock options to various Directors, Officers and Consultants. The options are exercisable at $0.20 per option for a period of 2 years from the date of grant and have no vesting conditions. The options are being issued under the terms of the Company’s Stock Option Plans which were approved by shareholders at the Company’s Annual General and Special Meeting on April 21, 2016.
Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (TRADEGATE:9SC2)(OTC Pink: SNCGF) ( “Manganese X” ) is currently in negotiations to purchase an interest in a privately owned Canadian Oil and Gas company (“Privateco”). Privateco has a contract with Schlumberger Limited, an oil and gas services company ( SLB on the NYSE market cap $92.2 billion US.) to utilize a newly developed technology that increases oil and gas yields. Privateco will utilize this with their existing oil and gas properties as well as any future oil and gas acquisitions which have been approved by Schlumberger. Schlumberger will finance this implementation and receive 30% of the profits from the increased outputs.
Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (OTC Pink: SNCGF) (the “Company” or Manganese X ) committed itself in early 2017 to achieve a fundamental understanding of the mineralogical composition of the various manganese bearing zones within its Battery Hill deposit to assist in its metallurgical evaluations. With the use of scanning electron microscopy, or Qemscan, X-Ray Diffraction and other techniques, the company was able to build an extremely detailed portrait of the various ore types contained in the major zonal deposits, to a far greater level of comprehension than had been obtained since the first discovery of manganese in southern New Brunswick in 1836.