Inventus Mining Secures Major Investment
Inventus Mining Corp. (TSXV: IVS) has announced an exciting new development that could significantly bolster its exploration efforts. Recently, the company revealed a non-brokered private placement aimed at raising up to $600,000 by offering 15,000,000 units at a price of $0.04 per share. Notably, McEwen Mining Inc. is stepping in to purchase 10,000,000 units of this offering.
Insight into the Offering Structure
Each unit will comprise one common share and one purchase warrant, allowing the holder to procure an additional common share at $0.09 anytime within two years of the offering's closure. This attractive structure not only fosters investment but also provides potential growth for both the investors and Inventus.
Warrant Expiration Details
Investors should be aware that the warrants' expiry may be accelerated if the common shares trade at or above $0.12 over a consecutive 20-day period. Should this situation arise, a press release will announce the change, allowing warrants to expire 10 trading days after the announcement.
Utilization of Proceeds
The proceeds from this offering will further enhance Inventus Mining's exploration capabilities, specifically focusing on the Pardo Paleoplacer Gold Project. Funds will also support other essential corporate purposes, emphasizing the company's commitment to maximizing shareholder value.
Related Party Transaction Insights
It's important to note that this offering involves a related party transaction, with McEwen Mining being affiliated with several insiders of Inventus Mining. This has invoked specific regulatory requirements to ensure the transaction's fairness, given that the value of this investment exceeds certain thresholds.
Exemption Reliance
To facilitate this investment without formal valuation requirements, Inventus Mining relies on exemptions provided under Canadian regulations as the market capitalization does not surpass 25% from McEwen’s participation in the offering.
Profile of Inventus Mining Corp.
Inventus Mining Corp. is aggressively focused on mineral exploration within the rich mining district of Sudbury, Ontario. They boast significant projects such as the Pardo Paleoplacer Gold Project, recognized as a pivotal gold discovery in North America. With approximately 168 million common shares currently outstanding, the company is strategically positioned for future growth.
Exploration and Development Plans
The Pardo project is notable for its exploration possibilities as it has the potential to yield substantial returns on investment. Inventus aims to leverage this investment to harness resources effectively, facilitating sustainable development within the region.
Contact and Additional Information
For those interested in learning more about Inventus Mining or participating in the ongoing developments, detailed information is readily available on their corporate website. Additionally, stakeholders can reach out directly to the company for any inquiries.
For further information, please contact:
Mr. Stefan Spears
Chairman and CEO
Inventus Mining Corp.
Tel: (647) 408-1849
E-mail: stefan@inventusmining.com
Frequently Asked Questions
What is the purpose of the private placement by Inventus Mining?
The private placement aims to raise funds for advancing exploration and resource estimation at the Pardo Paleoplacer Gold Project.
How much will McEwen Mining invest in this placement?
McEwen Mining has agreed to purchase 10,000,000 units, amounting to a total investment of $400,000.
What will each unit consist of in the offering?
Each unit includes one common share and one warrant that allows purchasing an additional share at $0.09 for two years.
What happens if the share price exceeds $0.12?
In that case, the expiry date for the warrants may be accelerated, allowing them to expire 10 days after a press release about the change.
Where can I find more information about Inventus Mining?
More information can be located on the Inventus Mining corporate website or by contacting the company directly.