TORONTO, ONTARIO--(Marketwired - May 10, 2016) - Inventus Mining Corp. ("Inventus" or the "Company") (TSX VENTURE:IVS) is pleased to announce that the completion of its previously approved consolidation of its common shares (the "Common Shares") will take effect on market open on May 12, 2016. At an annual and special meeting of the shareholders of Inventus held on May 5, 2016 (the "Meeting"), shareholders of the Company approved a consolidation of the Common Shares on the basis of one post-consolidation Common Share for every two (2) pre-consolidation Common Shares then issued and outstanding. The Company will not issue any fractional Common Shares as a result of the consolidation. Instead, all fractional shares will be rounded down and cancelled. Letters of transmittal were mailed to shareholders to use to exchange their pre-consolidation Common Shares for post-consolidation Common Shares. A copy of the letter of transmittal is filed on the Company's issuer profile on SEDAR at www.sedar.com. It is anticipated that the post-consolidated Common Shares will commence trading on the TSX Venture Exchange ("TSXV"), under same name and ticker symbol (IVS) on May 12, 2016, at which time the CUSIP and ISIN numbers of the Company will change to 461217200 and CA4612172003, respectively.
The Company further announces that at the Meeting, the following individuals were elected directors of the Company: Wayne Whymark, Douglas Hunter, Scott Heatherington, Mark Hall, Greg Gibson and Stefan Spears. Shareholders also approved the re-appointment of Collins Barrow Toronto LLP, as auditors of the Company, the continuation of the Company's 10% rolling stock option plan, and the creation of Evanachan Limited and Eric Sprott as new "control persons" of the Company, as such term defined under the policies of the TSXV.
Mr. Stefan Spears was elected as the Company's newest director. Mr. Spears has over 10 years' experience in the mining sector. He graduated from Queen's University with a B.Sc. (Hons) in civil engineering, and began his career at Goldcorp Inc. in 2002. In 2005, he joined Rob McEwen and formed McEwen Capital to focus on mining investments and concurrently held several senior management positions with exploration and development stage companies including Lexam VG Gold, and McEwen Mining. He has experience in gold exploration in Canada, USA and Mexico, and was involved in raising over $400 million in equity capital for exploration and development projects. Wayne Whymark, Chairman and CEO of Inventus commented that, "We are extremely pleased to have Stefan join our Board, bringing his extensive financial markets and resource company expertise."
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
