Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. (“American Manganese” or “AMI” or the “Company”), (TSX.V: AMY; Pink Sheets: AMYZF; Frankfurt: 2AM), is pleased to announce that it has appointed Dr. Shailesh Upreti to its existing Advisory Board (see press release dated October 26, 2016). Dr. Upreti recently won a $500,000 cash award in USA’s clean-tech business competition (76W Clean Energy Tech Competition) held in New York recently (http://www.thestatesman.com/science/shailesh-upreti-wins-500-000-clean-tech-award-1480769858.html).
“Dr. Upreti is a well-respected lithium ion technology expert and inventor of multiple breakthrough technologies” said Mr. Reaugh. An IIT Delhi graduate, Dr. Upreti has worked closely with Professor Stan Whittingham (a key figure in the history of the development of lithium batteries) and holds multiple US patents and their foreign equivalents in more than 30 countries. In addition to his technical degree he also has a masters degree in international business management as well as extensive experience as an entrepreneur.
Dr. Upreti’s 16 years of extensive business experience includes bringing new products to market, business development, lithium ion supply chain and industry networking, downstream processing, and investigating organizational performance gaps. Dr. Upreti has successfully commercialized more than 5 different technologies to market including one in the material recycling space. He is well integrated in the global battery industry and services on various advisory boards. Dr. Upreti is particularly adept in defining corporate commercial objectives, business support programs and achieving organizational goals while bringing new technologies to market.
Mr. Reaugh noted: ‘The Company is very pleased that its advanced technology for recycling lithium ion cathode material from spent electric vehicle batteries is able to attract high caliber experts such as Dr. Upreti to help build and implement our closed-loop Lithium Ion Battery Recycling business plan’.
Norm Chow of Kemetco says ‘the additional expertise that AMI’s technology has attracted is another verification that AMI and Kemetco are succeeding in the ongoing research and development program for AMI’s recycling technology Lithium Ion battery technology’.
For his participation as an advisory consultant, the Company has granted Dr. Upreti 600,000 incentive stock options. The options are exercisable at a price of $0.24 per share for a five-year term. Any shares issued on the exercise of these stock options will be subject to a four month hold period from the date of the grant. The stock option grants are subject to acceptance by the TSX Venture Exchange.
About Kemetco Research Inc.
Kemetco Research is a private sector integrated science, technology and innovation company. Their Contract Sciences operation provides laboratory analysis and testing, field work, bench scale studies, pilot plant investigations, consulting services, applied research and development for both industry and government. Their clients range from start-up companies developing new technologies through to large multinational corporations with proven processes.
They provide scientific expertise in the fields of Specialty Analytical Chemistry, Chemical Process and Extractive Metallurgy. Because Kemetco carries out research in many different fields, it is able to offer a broader range of backgrounds and expertise than most laboratories.
About American Manganese Inc.
American Manganese Inc. is a diversified specialty and critical metal company focused on capitalizing on its patented intellectual property through low cost production or recovery of electrolytic manganese products throughout the world, and recycling of spent electric vehicle lithium ion rechargeable batteries. Interest in the Company’s patented process has adjusted the focus of American Manganese Inc. toward the examination of applying its patented technology for other purposes and materials. American Manganese Inc. aims to capitalize on its patented technology and proprietary know-how to become and industry leader in the recycling of spent electric vehicle lithium ion batteries having cathode chemistries such as: Lithium-Cobalt, Lithium-Cobalt-Nickel-Manganese, and Lithium-Manganese (Please see the Company’s March 31, 2016 press release for further details).