Minnova Corp. Announces Closing of Private Placement
Minnova Corp. Office: +1 647 985 2785
MCI:TSXV 217 Queen Street W., Suite 401
www.minnovacorp.ca Toronto, Ontario M5V 0R2
Minnova Corp. Announces Closing of Private Placement
NOT FOR DISSEMINATION INTO THE UNITED STATES
December 8 , 2021, Toronto, Ontario – Minnova Corp. (TSXV: M CI, OTC Pink: AGRDF ,
"Minnova” o r the “ Company”), is pleased to announce that further to its press release of
November 16, 2021, that Company has closed a non-brokered private placement through the
issuance of 5,000,000 common shares in the capital of the Company (the “Common Shares”) at
a price of $0.10 per Common Sha re for gross proceeds of $500,000 (the “ Offering”). The
proceeds of the Offering will be used for the purchase of the power line from Manitoba Hydro and
work programs related to: a) renewable energy development plans and b) exploration and re-start
of mining operations at the Company's PL Mine including; resource expansion and exploration
drilling, updated metallurgical test work and revised and updated NI 43-101 technical reports, 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 $27,020; and (ii) an aggregate of 270,200 broker warrants
(each, a “Broker Warrant”). Each Broker Warrant is exercisable into Common Shares at a price
of $0.15 per Common Share until December 8, 2023.
Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals,
including the approval of TSX Venture Exchange. All securities issued in connection with the
Offering will be subject to a hold period of four months plus a day from the date of issuance and
the resale rules of applicable securities legislation.
The Offering constituted a related party transaction within the meaning of TSX Venture Exchange
Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special
Transactions (“MI 61-101”) as certain insiders of the Company subscribed for 1,440,000 Common
Shares pursuant to the Offering. The Company is relying on the exemptions from the valuation
and minority shareholder approval requ irements of MI 61 -101 contained in sections 5.5(b) and
5.7(1)(a) of MI 61 -101, as the Company is not listed on a specified market and the fair market
value of the participation in the Offering by the insider does not exceed 25% of the market
capitalization of the Company in accordance with MI 61-101. The Company did not file a material
change report in respect of the related party transaction at least 21 days before the closing of the
of the Offering, which the Company deems reasonable in the circumstances in order to complete
the Offering in an expeditious manner.
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.
Minnova Corp. Office: +1 647 985 2785
MCI:TSXV 217 Queen Street W., Suite 401
www.minnovacorp.ca Toronto, Ontario M5V 0R2
About Minnova Corp.
Minnova Corp. is an emerging Canadian gold producer focused on restarting the PL Gold Mine
and expanding gold resources on its PL and Nokomis gold deposits. The Company has completed
a Positive Feasibility Study in support of restarting the PL Mine at an average annual production
rate of 46,493 ounces over a minimum 5 year mine life. The resource remains open to expansion
and future surface exploration work programs will target resource expansion. The PL Gold Mine
has a short pre-production timeline forecas t at 15 months, benefits from a valid underground
mining permit (Environment Act 1207E), an existing 1000 tpd processing plant, over 7,000 meters
of developed underground ramp to -135 metres depth, is fully road accessible and close to
existing mining infr astructure in the prolific Flin Flon Greenstone Belt of Central Manitoba. In
addition to gold mine development the company is developing a renewable energy strategy to
develop and produce renewable / green energy an minimize our carbon footprint.
For more information please contact:
Minnova Corp.
Gorden Glenn
President & Chief Executive Officer
For further information, please contact Investor Relations at 647-985-2785 or
Visit our website at www.minnovacorp.ca
Forward Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain “forward-looking information” within the meaning of applicable securities laws. Forward
looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”,
“estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or
conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions
and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ materially from those projected in the forward-looking information.
For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the
Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking
information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is
cautioned not to place undue reliance on forward-looking information.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction
may constitute a violation of U.S. Securities laws.