Announce Advisory Board Appointment and Corporate update
Minnova Corp. Office: +1 647 985 2785
MCI:TSXV 217 Queen Street W., Suite 401
www.minnovacorp.ca Toronto, Ontario M5V 0R2
Minnova Corp. and Minnova Renewable Energy
Announce Advisory Board Appointment and
Corporate update
NOT FOR DISSEMINATION INTO THE UNITED STATES
March 24, 2022, Toronto, Ontario – Minnova Corp. (TSXV: MCI, OTC Pink: AGRDF, "Minnova”
or the “ Company”), is an evolving resource development company with an exciting green
hydrogen and cleantech innovation strategy to compliment our development-stage PL Gold Mine
restart plan.
We are pleased to announce the appointment of Mr. Kent Newman to our advisory board effective
today’s date. Mr. Newman has over 30 years experience in utility scale power including over 20
years at MB Hydro at increasing supervisory levels. Mr. Newman is currently President of AMPS
Powerline Incorporated which is specialized in high voltage electrical construction, maintenance
and repair service heavy industr y, mining, and utility clients. Mr. Newman has distinguished
himself as a leader in his industry overseeing technical teams to successfully execute large
energy reduction projects and working closely with First Nation Communities on community
economic development initiatives.
Minnova Renewable Energy continues to advance its strategy in Canada and internationally.
In Manitoba our site selection discussions are advancing with communities we have targeted for
development. Site visits to review biomass feed stock suppliers are in progress with a view to; a)
initiate gasification test work on specific crop waste products and b) fabricate a mobile
demonstration scale plant utilizing Duma proprietary gasification technology.
In addition, we are advancing discussions with MB Hydro to access their provincial infrastructure
for both large scale power offtake and the future potential for the injection of hydrogen and/or
hydrogen rich syngas to existing natural gas pipeline infrastructure.
In Latin America we are advancing site selection data analysis for the establishment of one or
more, large scale solar photovoltaic park s. The renewable energy would be utilized for green
hydrogen and green ammonia production, via electrolysis, for domestic and export markets. The
areas being targeted for further study are recognised as some of the highest regions for solar
radiation.
In Europe we are conducting site visits and engaged in discussions for long term agricultural
biomass supply.
In all jurisdictions there is substantial industrial demand for hydrogen for conversion to ammonia,
use in refineries, chemicals and the steel and glass sectors. Current demand is supplied by grey
hydrogen derived from carbon emitting, natural gas steam-methane reforming processes. Our
initiative to establish green hydrogen and green ammonia production is being well received as
Minnova Corp. Office: +1 647 985 2785
MCI:TSXV 217 Queen Street W., Suite 401
www.minnovacorp.ca Toronto, Ontario M5V 0R2
target jurisdiction have established hydrogen strategies to meet net zero 2050 carbon emission
reduction targets.
Gord Glenn, President & CEO commented “ The addition of Kent to the advisory board marks
another positive step forward in the development of Minnova Renewable Energy as a significant
new green hydrogen and cleantech innovation company. Many of our planned renewable energy,
green hydrogen and green ammonia development projects will require g rid connection and his
utility scale power experience will be a n important value driver. We continue access multiple
renewable energy project development sites in Canada, Latin America, and Europe.”
At our PL Gold Mine restart project discussions are ongoing with potential strategic investors and
consultants with a view to updating our 2017 Positive Feasibility Study. Considering the strong
interest in advanced stage gold projects, located in low-risk jurisdictions, the focus in 2022 will be
on programs to advance our development efforts to enable a rapid restart once appropriate
funding is put in place.
Additionally, the Company announces that its board of directors has approved a grant of options
for 50,000 common shares to Mr. Newman in his capacity as an advisor to the Company pursuant
to the Company's 2021 Stock Option Plan. These stock options have an exercise price of $0.1 3
per share and expire on March 24, 2027. These stock options vest immediately. This stock option
grant is subject to acceptance by the TSX Venture Exchange.
About Minnova Corp.
Minnova Corp. is an emerging Canadian gold producer with a focus on incorporating clean energy
into the restart plan for the PL Gold Mine. In addition to expanding gold resources on its PL and
Nokomis gold deposits the Company established a wholly owned subsidiary, Minnova Renewable
Energy, which is targeting green hydrogen production. 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 forecast 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 infrastructure in the prolific Flin Flon Greenstone Belt of Central Manitoba. Minnova
announced an exclusive agreement to acquire up to 100% of the outstanding share capital of
DUMA E ngineering (2018) Inc. (“DUMA”) on December 13 , 2022. The acquisition price will
consist of; a) an initial payment of C$100,000 for a 50% interest and b) a final payment to be
determined following the completion of satisfactory due diligence and the filing of certain patents
related to their innovative gasification technology. The closing of the acquisition of DUMA is
subject to a number of conditions including the satisfactory completion of due diligence, receipt
of all regulatory approvals and is expected to be concluded by the end of Q2/2022.
Minnova Corp. Office: +1 647 985 2785
MCI:TSXV 217 Queen Street W., Suite 401
www.minnovacorp.ca Toronto, Ontario M5V 0R2
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
This news release contains "forward -looking information" within the meaning of applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to, information regarding the Company including management’s
assessment of future plans and operations, that may involve risks associated with mining exploration and development, volatility
of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and
services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ
materially from those anticipated in the forward-looking statements. A feasibility study has been completed on the PL Gold Mine
development project but there is no certainty the disclosed targets will be achieved nor that the proposed operations will be
economically viable. Minnova has attempted to identify important factors that could cause actual results to differ materially from
those contained in forward-looking information. Forward-looking information is provided for the purpose of providing information
about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update
or revise any forward-looking information or to explain any material difference between subsequent actual events and such
forward-looking information, except to the extent required by applicable law. There may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place
undue reliance on forward-looking information. Minnova does not undertake to update any forward-looking information, except
in accordance with applicable securities laws.
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or
other regulatory authority has approved or disapproved the information contained herein. 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.