Inventus Mining Corp. (TSX VENTURE: IVS)
(“Inventus” or the “Company”) is pleased to report that it has
closed the previously announced non-brokered private placement of
15,000,000 units of the Company (each, a “
Unit”)
at a price of $0.04 per Unit, for total gross proceeds of $600,000
(the “
Offering”). Each Unit consisted of one
common share of the Company (a “
Common Share”) and
one common share purchase warrant. Each warrant (a
“
Warrant”) entitles the holder to purchase one
Common Share of the Company (a “
Warrant Share”) at
a price of $0.09 per Warrant Share until the date which is
twenty-four (24) months following the closing of the Offering.
The expiry date of the Warrants may be
accelerated by Inventus if the closing price of the Common Shares
on the TSX Venture Exchange (the “TSXV”) is
greater than or equal to $0.12 over a consecutive 20-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 TSXV. All securities issued and
issuable pursuant to the Offering will be subject to a four month
and one day statutory hold period. Proceeds of the Offering will be
used to advance the Pardo Project and for general corporate
purposes.
This news release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be
any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
Related Party Transaction
In connection with the Offering, McEwen Mining
Inc. (NYSE/TSX: MUX) (“McEwen”), an affiliate of several insiders
of the Company including Rob McEwen, Stefan Spears and Perry Ing,
acquire 10,000,000 Units for proceeds of $400,000. In addition,
certain officers and directors of the Company including Wesley
Whymark, Bill Fisher and Richard Sutcliffe, acquired an aggregate
of 875,000 Units, for gross proceeds of $35,000. The acquisition of
10,875,000 Units by McEwen and insiders in connection with the
Offering is considered a "related party transaction" pursuant to
Multilateral Instrument 61-101- Protection of Minority Security
Holders in Special Transactions ("MI 61-101")
requiring the Company, in the absence of exemptions, to obtain a
formal valuation for, and minority shareholder approval of, the
“related party transaction”. The Company is relying on an exemption
from the formal valuation requirements of MI 61-101 available
because no securities of the Company are listed on specified
markets, including the TSX, the New York Stock Exchange, the
American Stock Exchange, the NASDAQ or any stock exchange outside
of Canada and the United States other than the Alternative
Investment Market of the London Stock Exchange or the PLUS markets
operated by PLUS Markets Group plc. The Company is also relying on
the exemption from minority shareholder approval requirements set
out in MI 61-101 as the fair market value of the participation in
the Offering by McEwen and insiders does not exceed 25% of the
market capitalization of the Company, as determined in accordance
with MI 61-101.
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 183 million common shares outstanding.
Visit http://www.inventusmining.com for more
information.
For further information, please contact:
Mr. Stefan SpearsCEOInventus Mining Corp.Tel: (647)
408-1849E-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.
McEwen Mining (NYSE:MUX)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024
McEwen Mining (NYSE:MUX)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024