Inventus Mining: Private Placement Financing
TORONTO, Dec. 01, 2022 - Inventus Mining Corp. (TSX VENTURE: IVS) ("Inventus" or the "Company") today announces a non-brokered private placement financing comprising the sale of up to 24,000,000 units ("Units"), to be sold at $0.05 per Unit for gross proceeds of $1,200,000 (the "Offering"). Each Unit will consist of one common share ("Common Share") and one half of a common share purchase warrant. Each whole common share purchase warrant ("Warrant") will entitle the holder to acquire one Common Share for $0.10 for a period of two years after the closing of the Offering. All securities issued in conjunction with the Offering are subject to a hold period of four months and one day after closing.
The expiry date of the Warrants may be accelerated by Inventus, starting 6 months after the closing of the Offering, if the closing price of the Common Shares on the TSX Venture Exchange is greater than or equal to $0.20 over a consecutive 30-day period. If this occurs, the Company may accelerate the expiry date of the Warrants by issuing a press release announcing the reduced Warrant term whereupon the Warrants will expire on the 10th trading day after the date of such press release.
The Offering of the Units is subject to the receipt of all required corporate and regulatory approvals including the approval of the TSX Venture Exchange ("TSXV"). All securities issued under the Offering are subject to a statutory four-month and one day hold period.
Proceeds of the Offering will be used to advance the Pardo Project and Sudbury 2.0 Project, reduce accounts payable, and for general corporate purposes.
Eligible Finders may receive a 6% cash commission, and 8% broker warrants. Each broker warrant will be exercisable into a Unit at a price of $0.10 per Unit for a period of one year.
About Inventus Mining Corp.
Inventus is a mineral exploration and development company focused on the world-class mining district of Sudbury, Ontario. Our principal assets are a 100% interest in the Pardo Paleoplacer Gold Project and the Sudbury 2.0 Critical Mineral Project located northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America. Inventus has approximately 140.6 million common shares outstanding.
Visit http://www.inventusmining.com for more information.For further information, please contact:
Mr. Stefan Spears
Chairman and CEO
Inventus Mining Corp.
Tel: (647) 408-1849
E-mail: stefan@inventusmining.com
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, regulation services provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.
Forward-Looking Statements
This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "if", "yet", "potential", "undetermined", "objective", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to the failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
