Adventus Mining Closes C$35 Million Bought Deal Prospectus Offering

TORONTO, Aug. 14, 2020 - Adventus Mining Corp. (“Adventus” or the “Company”) (TSX-V: ADZN) announces it has completed its bought deal prospectus offering announced on July 28, 2020 (the “Offering”). Raymond James Ltd., Haywood Securities Inc., and National Bank Financial Inc. acted as co-lead underwriters of the Offering, with participation by Cormark Securities Inc., BMO Capital Markets Inc., Eight Capital, and Laurentian Bank Securities Inc. (collectively, the “Underwriters”). Pursuant to the Offering, the Company issued a total of 27,559,100 common shares of the Company (the "Shares") at a price of C$1.27 per Share (the "Offering Price"), representing aggregate gross proceeds of C$35,000,057.

Adventus has granted the agents an overallotment option, exercisable in whole or in part, at the sole ‎discretion of the Underwriters, at any time and from time to time, for a period of 30 days following the closing ‎of the Offering, to purchase up to an additional 4,133,865 million common shares from Adventus at the Offering ‎Price for additional gross proceeds to the Company of C$5,250,009 if the overallotment option is exercised in ‎full.‎

The net proceeds of the Offering will be used by the Company to fund exploration and development activities at the Curipamba project, including the completion of a feasibility study for the El Domo copper-gold deposit, exploration activities at the Pijili and Santiago projects, and general administration and corporate purposes.

The Shares were offered by way of short form prospectus in British Columbia, Alberta, Ontario, New Brunswick and Newfoundland and Labrador pursuant to National Instrument 44-101 – Short Form Prospectus Distributions. The Shares were not offered or sold in the United States except under Rule 144A, Rule 506(b) of Regulation D or in such other manner as to not require registration under the United States Securities Act of 1933, as amended. The Underwriters received a cash commission equal to 5.5% of the gross proceeds from the sale of the Shares pursuant to the Offering, which commission was reduced to 2.75% or 1.0% in respect of certain president’s list purchasers.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Shares in any state in which such offer, solicitation or sale would be unlawful. The Shares have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

About Adventus
Adventus Mining Corp. (ADZN.TSXV) is a unique copper-gold exploration and development company, focused primarily in Ecuador. Its strategic shareholders include Altius Minerals Corp., Greenstone Resources LP, Resource Capital Funds, Wheaton Precious Metals Corp., and the Nobis Group of Ecuador. Adventus is leading the exploration and engineering advancement of the Curipamba copper-gold project in Ecuador as part of an earn-in agreement to obtain a 75% ownership interest. In addition, Adventus is engaged in a country-wide exploration alliance with its partners in Ecuador, which has incorporated the Pijili and Santiago copper-gold projects to date. Adventus also controls an exploration project portfolio in Ireland with South32 as funding partner as well as an investment portfolio of equities in several junior exploration companies. Adventus is based in Toronto, Canada, and is listed on the TSX Venture Exchange under the symbol ADZN.

Neither the 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 news release.

This press release contains "forward -looking information" within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should" "might", "will be taken", or "occur" and similar expressions) are not statements of historical fact and may be forward-looking statements.

Forward-looking information herein includes, but is not limited to, statements that address activities, events or developments that Adventus expects or anticipates will or may occur in the future, including the use of proceeds from the Offering. Although Adventus has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Adventus undertakes to update any forward-looking information except in accordance with applicable securities laws.

For further information from Adventus, please contact Christian Kargl-Simard, President and Chief Executive Officer, at +1-416-230-3440 or christian@adventusmining.com. Please also visit the Company website at www.adventusmining.com.