Minnova Corp. Office: +1 647 985 2785
Minnova Corp. Office: +1 647 985 2785
MCI:TSXV 217 Queen Street W., Suite 401
www.minnovacorp.ca Toronto, Ontario M5V 0R2
Minnova Announces Loans
NOT FOR DISSEMINATION INTO THE UNITED STATES
September 24, 2024 , Toronto, Ontario – Minnova Corp. (TSXV: M CI, OTC Pink: AGRDF ,
"Minnova” o r the “ Company”), announces it has issued unsecured promissory notes (the
"Promissory Notes") in the aggregate of $47,000 (the "Principal Amount"), to non-arm's length
creditors of the Company (the "Creditors"). The Promissory Notes are payable upon receipt of a
demand notice by the holder and the Principal Amount will be used by the Company for general
working capital purposes.
Interest on the outstanding Principal Amount of the Promissory Notes will accrue from the original
date of issue at a rate of fifteen percent (15%) per annum. Interest payments will be calculated
monthly.
The Promissory Notes remain subject to receipt of all necessary corporate and regulatory
approvals, including the approval of the TSX Venture Exchange.
The issuance of the Promissory Notes constitutes 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 the Creditor s are directors and/or
officers of the Company. The Company is relying on the exemptions from the valuation and
minority shareholder approval requirements of MI 61-101 contained in 5.5(b) and 5.7(1)(e) of MI
61-101, as the Company is not listed on a specified market and is in financial difficulty and the
transaction is designed to improve the financial position of the Company, as determined in
accordance with MI 61-101. The Company did not file a material change report more than 21 days
before the issuance of the Promissory Notes as the Company wished to close on an expedited
basis.
The issuance of the Promissory Notes were approved by the members of the board of directors
of the Company who are independent for the purposes of the Promissory Notes, being all directors
other than Messrs. Gorden Glenn and James White. No special committee was established in
connection with the Promissory Notes , and no materially contrary view or abstention was
expressed or made by any director of the Company in relation thereto.
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 evolving technology, energy and metals company building a worldwide
pipeline of green energy projects. Our subsidiary, Minnova Renewable Energy, is focused on
innovative carbon use and carbon reduction technologies. Separately the company is participating
in large scale green hydrogen production via electrolysis at the Flin Flon Clean Energy Hub
initiative.
Our mining strategy is focused on the restart of its PL Gold Mine, which included completion of a
Positive Feasibility Study in 2017. The study concluded the restart of the PL Mine, at an average
annual production rate of 46,493 ounces over a minimum 5- year mine life was economically
robust. Importantly the global resource remains open to expansion, as does the reserve. The PL
Gold Mine benefits from a short pre- production timeline forecast at 15 months, a valid
underground mining permit (Environment Act 1207E), an existing 1,000 tpd processing plant, over
7,000 meters of developed underground ramp to - 135 metres depth . The project is fully road
accessible and close to existing mining infrastructure.
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.