Manganese X Signs Definitive Agreement to Acquire US Patent for Air Disinfection, Sterilization and Deodorization
Montréal, Québec--(Newsfile Corp. - May 5, 2020) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (TRADEGATE: 9SC2) (OTC Pink: SNCGF) ("Manganese X" or the "Company") is pleased to confirm that further to the Company's new release dated April 30th, 2020, it has acquired a US patent for a system and method for air quality disinfection, sterilization and deodorization by way of a definitive agreement. Additional tests were conducted on an 11 story apartment complex in the Toronto area treating extensive airborne bacillus bacteria as well as bacillus and E.coli bacteria on the surface. In both cases bacteria levels were TNTC or Too Numerous To Count. Laboratory results show no bacillus counts in the air with only a few bacteria counts on the surface which indicates very encouraging results.
The acquisition of this patent will add new technology to our Disruptive Battery Corp. subsidiary.
It is intended Disruptive Battery Corp. will work in partnership with universities, chemical labs and global HVAC companies and Experts in the field of environmental science.
The terms of the transaction were 1.5 million shares plus a 2% royalty.
Disruptive Battery Corp. has the option to repurchase 1/2 of the royalty for the sum of $250,000.
Further, the company sees this as an opportunity to potentially cross sell grid energy storage as we will be dealing with companies that are involved with commercial and industrial building applications.
The company is currently in discussions with a Canadian University for a battery research program as well as ongoing discussions with two manganese themed battery companies looking to disrupt the industrial and commercial segment utilizing a grid storage methodology.
Martin Kepman, CEO of Manganese X, comments, "This patent was brought to us and because of timeliness and sheer relevance it was an opportunity we decided to pursue after exhaustive research. This system and method is a green, cleantech solution. While it is not obviously ore related or battery related, it does represent technology that is globally scalable. Our agenda as a public company is to leave no stone unturned in our pursuit at optimizing shareholder value. The company remains very much engaged in ore purification for the battery sector as well as continuing dialogue for battery research participation and equity ownership. We have great shareholders and our fiduciary obligation is to look for ways to enhance a return on investment."
The agreement is subject to acceptance and approval by the TSX Venture Exchange. All shares issued pursuant to the agreement shall be subject to a four-month-and-one-day hold period.
Martin Kepman
CEO and Director
Email: martin@kepman.com
Tel: 1-514-802-1814
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. We seek safe harbor.
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