TORONTO, Sept. 06, 2017 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSX-V:IVS) (“Inventus” or the “Company”) is pleased to announce that it has closed an over-subscribed non-brokered private placement financing for aggregate gross proceeds of $1,000,000 (the “Offering”), further to its announcement on August 16, 2017. The Offering consisted of the sale of 6,666,666 units (each, a “Unit”) at a price of $0.15 per Unit.
Inventus intends to use the net proceeds from the Offering for bulk sampling and exploration at its 100% owned Pardo Paleoplacer Gold Project near Sudbury, Ontario, and for general administration and corporate purposes.
Each Unit consists of one common share (“Common Share”) and one common share purchase warrant (“Warrant”). Each Warrant will entitle the holder to acquire one Common Share at a price of $0.25 for a period of two (2) years after the closing date of the Offering. All securities issued and issuable pursuant to the Offering will be subject to a four month and one day statutory hold period.
About Inventus Mining Corp.
Inventus is a mineral exploration company focused on the world-class mining district of Sudbury, Ontario. Our principal asset is a 100% interest in the Pardo Paleoplacer Gold Project located 65 km northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America. Inventus has 106,971,069 common shares outstanding (116,965,236 shares on a fully diluted basis).
