Business
Minnova Corp. Announces C$1 Million Private Placement
Toronto, Ontario--(Newsfile Corp. - November 20, 2017) - Minnova Corp. (TSXV: MCI) ("Minnova" or the "Company"), an advanced-stage mining exploration and develo
About this update from Minnova Corp.
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - November 20, 2017) - Minnova Corp. (TSXV: MCI) (\"Minnova\" or the \"Company\"), an advanced-stage mining exploration and development company focused on the advancement and re-start of its 100% owned PL Mine in central Manitoba, is pleased to announce that it intends to complete a non-brokered private placement offering of up to 1,538,462 flow-through Units (\"Flow-Through Units\") at a price of $0.65 per Flow-Through Unit, for gross proceeds of up to $1,000,000 (the \"Offering\"). Each Flow-Through Unit will consist of one common share (a \"Common Share\") of the Company issued on a flow-through basis and one-half of one common share purchase warrant (each whole warrant, a \"Warrant\") with each Warrant entitling the holder thereof to purchase one Common Share at an exercise price of $0.75 for a period of 18 months from the closing date of the Offering. The closing of the Offering is expected to occur on or about November 27, 2017 and is subject to the completion of formal documentation, including but not limited to receipt of regulatory approvals, including approval of the TSX Venture Exchange. All securities issued pursuant to the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. The net proceeds of the Offering will be used for work programs related to advancement and re-start of mining operations at the Company's PL Mine, including 2,000 meter drill program targeting resource expansion and property wide exploration, as well as for general working capital purposes. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Minnova Corp. Minnova Corp. is an emerging Canadian gold producer focused on re-starting the PL Gold Mine and expanding gold resources on its PL and Nokomis gold deposits. The Company has completed a P...