Business
Minnova Corp. Announces Closing of Final Tranche of Private Placement
Toronto, Ontario--(Newsfile Corp. - February 8, 2023) - Minnova Corp. (TSXV: MCI) (OTC Pink: AGRD...
About this update from Minnova Corp.
[{"type":"text","content":"Minnova Corp. Announces Closing of Final Tranche of Private PlacementToronto, Ontario--(Newsfile Corp. - February 8, 2023) - Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) (\"Minnova\" or the \"Company\"), is pleased to announce it has closed the final tranche of its previously announced non-brokered private placement through the issuance of 6,000,000 common shares in the capital of the Company (the \"Common Shares\") at a price of $0.05 per Common Share for gross proceeds of $300,000 (the \"Offering\"). In total, the Company issued an aggregate of 9,000,000 Common Shares for gross proceeds of $450,000. The proceeds of the Offering will be used for work programs related to: a) renewable energy development plans and b) exploration and development programs related to the restart of mining operations at the Company's PL Mine, as well as for general working capital purposes. In connection with the Offering, the Company paid certain eligible persons (each, a \"Finder\"): (i) a cash commission in the aggregate of $21,000; and (ii) an aggregate of 420,000 broker warrants (each, a \"Broker Warrant\"). Each Broker Warrant is exercisable into Common Shares at a price of $0.05 per Common Share until February 8, 2025. All securities issued pursuant to the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.This press release does not constitute an offer to sell or a solicitation of an offer to buy 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 United States 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 evolving cleantech company building a worldwide pipeline of green energy projects. Our subsidiary, Minnova Renewable Energy, is focuse...