Business
Minnova Corp. Announces Non-Brokered Private Placement of up to $1,000,000
Toronto, Ontario--(Newsfile Corp. - January 7, 2021) - Minnova Corp. (TSXV: MCI) (OTC Pink: AG...
About this update from Minnova Corp.
[{"type":"text","content":"Minnova Corp. Announces Non-Brokered Private Placement of up to $1,000,000Toronto, Ontario--(Newsfile Corp. - January 7, 2021) - Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) (\"Minnova\" or the \"Company\"), a discovery-stage exploration and gold mine development company, is pleased to announce today a non-brokered private placement financing to raise gross proceeds of up to $1,000,000 (the \"Offering\") through the issuance of up to 1,200,000 common share units (each, a \"Unit\") at a price of $0.25 per Unit for aggregate gross proceeds of up to $300,000 and up to 2,187,500 flow-through units (each, a \"Flow-Through Unit\") at a price of $0.32 per Flow-Through Unit for aggregate gross proceeds of up to $700,000. Each Unit will consist of one common share of the Company (each, a \"Common Share\") issued on a non flow-through basis and one Common Share purchase warrant (each, a \"Warrant\"). Each whole Warrant shall entitle the holder to purchase one Common Share at an exercise price of $0.35 for 24 months from the closing date of the Offering. The Warrants are callable at any time, following the customary hold period and prior to the expiry of the Warrants, if the daily volume weighted average trading price of the Company's common shares on the TSX Venture Exchange is greater than $0.55 for more than 20 consecutive trading days. Each Flow-Through Unit will consist of one common share of the Company (each, a \"Common Share\") issued on a flow-through basis and one-half of a Common Share purchase warrant (each, a \"Warrant\"). Each whole Warrant shall entitle the holder to purchase one Common Share at an exercise price of $0.35 for 24 months from the closing date of the Offering. The Warrants are callable at any time, following the customary hold period and prior to the expiry of the Warrants, if the daily volume weighted average trading price of the Company's common shares on the TSX Venture Exchange is greater than $0.55 for more than 20 consecutive trading days.The closing of the Offering is expected to occur on or about January 21, 2021 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...