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Inomin Mines Inc
Symbol C : MINE
Shares Issued 16,040,139
Close 2018-04-13 C$ 0.12
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Inomin Mines to issue 344,125 shares for debt

2018-04-16 19:36 ET - News Release

Mr. John Gomez reports


Inomin Mines Inc. has entered into a debt settlement agreement with Norton Rose Fulbright Canada LLP to settle $41,295 of payables owed to Norton for legal services. The company will issue 344,125 common shares at a deemed price of 12 cents per share to Norton to settle the payables.

The company decided to settle the payables with shares in order to preserve its cash for other obligations, as well as to pursue acquisition opportunities. Inomin appreciates Norton's willingness to settle the payables in shares of the company. Information about Norton is available on its website.

The completion of the shares-for-debt transaction is subject to the approval of the TSX Venture Exchange. All shares issued will be subject to a four-month hold period which will expire on the date that is four months and one day from the date of issue.

About Inomin Mines Inc.

Inomin Mines is engaged in the identification, exploration and development of mineral properties. The company holds a 100-per-cent interest in the King's Point polymetallic (gold-copper-zinc) project in Newfoundland's prolific Green Bay mineral region.

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