Mr. Wesley Whymark reports
INVENTUS ANNOUNCES UPSIZE OF NON-BROKERED FLOW-THROUGH FINANCING TO $2.5 MILLION
Inventus Mining Corp. has upsized its previously announced non-brokered flow-through private placement of common shares for gross proceed of up to $2.5-million.
The offering will consist of up to 8,771,930 flow-through common shares of the company (the FT shares) at a price of 28.5 cents per FT share, for total gross proceed of up to $2.5-million.
Proceeds of the offering, along with anticipated bulk sample cash flow, will be used to accelerate exploration drilling at the Pardo gold project prior to the company's maiden resource estimate and will be used to incur Canadian exploration expenses as defined in Subsection 66.1(6) of the Income Tax Act and flow-through mining expenditures as defined in Subsection 127(9) of the Income Tax Act. Such proceeds will be renounced to the subscribers with an effective date not later than Dec. 31, 2026, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of the FT shares.
The offering is expected to close on or around April 30, 2026, and is subject to the receipt of all required corporate and regulatory approvals including the approval of the TSX Venture Exchange. In connection with the offering, the company may, in accordance with the policies of the TSX-V, pay finders' fees to arm's-length parties of up to 6 per cent of the gross proceeds from FT shares issued pursuant to subscriptions introduced by such parties, payable in a combination of cash and finders' warrants. All securities issued and issuable pursuant to the offering will be subject to a four-month-and-one-day statutory hold period.
The company also anticipates that insiders may subscribe for FT shares. The issuance of FT shares to insiders is considered a related party transaction subject to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101). The company is 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 insiders does not exceed 25 per cent 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, Ont. The company has a 100-per-cent interest in the company's principal assets, the Pardo Paleoplacer gold project and the Sudbury 2.0 critical mineral project, located northeast of Sudbury. The Pardo gold project is the first important paleoplacer gold discovery in North America. Inventus has approximately 211 million common shares outstanding.
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