American Manganese, Inc. (OTC Pink: AMYZF) operates as a manganese and other mineral mining company. Shares of the mining company are gaining 25%, through early trading on Friday, December 1, 2017. Over the past month, American Manganese, Inc. has seen average daily volume of 54,015 shares. However, volume of 335,237 shares or dollar volume of $67,047, has already exchanged hands on the day.
Shares of American Manganese, Inc. are rallying today, after the company announced that it has received an EU Legal Entity Identifier (LEI) through registration with German company, WM Datenservice. An LEI is required in order to be listed on German stock exchanges. Here is the full press release detailing of the LEI:
American Manganese, Inc. Press Release:
VANCOUVER, BC / ACCESSWIRE / December 1, 2017 / Larry W. Reaugh, President and Chief Executive Officer of American Manganese, Inc., (TSX-V: AMY; OTC PINK: AMYZF; FSE: 2AM) (“AMI” or the “Company”) is pleased to report the Company has been assigned the Legal Entity Identifier (“LEI”) number 5493005WVFCG4EGQEN69
through registration with WM Datenservice. The European Union has adopted regulations that require use of the LEI as a barcode equivalent aimed at reducing risks to investors.
What is the Global Legal Entity Identifier (LEI)?
The Legal Entity Identifier (LEI) is an internationally standardized and globally valid identifier for participants in the financial market and serves to unambiguously identify business partners (eg companies, banks or investment funds) and to fulfill certain reporting obligations to supervisory authorities. What’s new in comparison to existing systems is the global solution across all countries, markets and legal systems. The global adoption of a unified legal entity identification system is expected to reduce costs for businesses, as well as the financial market as a whole, improve risk management and promote transparency in the financial markets.
American Manganese Inc. meets the requirement for all companies listed on German Stock Exchanges (ie. Frankfurt Stock Exchange) to have an LEI number by January 3, 2018.
According to the website of the Deutsche Borse Group, the LEI number will affect most aspects of the securities markets in Europe, including trading, clearing, settlement, custody, collateral and liquidity management, market data and indices.
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 July 27, 2017 press release for further details).