Inventus Mining Completes Flow-Through Private Placement to Fund Critical Mineral Exploration at its Sudbury 2.0 Project
TORONTO, May 05, 2023 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) is pleased to report that it has closed a non-brokered private placement of 3,157,895 critical mineral flow-through units (“CMFT Units”), which were sold at $0.095 per Unit for gross proceeds of $300,000 (the “Offering”). Each Unit consists of one common share issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) and one half of a regular common share purchase warrant. Each whole common share purchase warrant entitles the holder to acquire one Common Share for $0.15 for a period of three years after the closing of the Offering.
- TORONTO, May 05, 2023 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) is pleased to report that it has closed a non-brokered private placement of 3,157,895 critical mineral flow-through units (“CMFT Units”), which were sold at $0.095 per Unit for gross proceeds of $300,000 (the “Offering”).
- Each Unit consists of one common share issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) and one half of a regular common share purchase warrant.
- Each whole common share purchase warrant entitles the holder to acquire one Common Share for $0.15 for a period of three years after the closing of the Offering.
- The Company intends to us the proceeds of the Offering to fund exploration at its Sudbury 2.0 Project, including an induced polarization (IP) survey and diamond drilling at the Dorland cobalt prospect.