Minnova Corp. Announces Non-Brokered 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 Non-Brokered Private Placement
NOT FOR DISSEMINATION INTO THE UNITED STATES
July 20, 2022, Toronto, Ontario – Minnova Corp. (TSXV: M CI, OTC Pink: AGRDF ,
"Minnova” or the “Company”), is pleased to announce a non-brokered private placement
of up to 10,000,000 units (each, a “Unit”) at a price of $0.035 per Unit for aggregate gross
proceeds of up to $350,000 (the “ Offering”). Each Unit shall be comprised of one
common share (each, a “Common Share”) in the capital of the Company and one-half of
one whole Common Share purchase warrant (each whole warrant, a “ Warrant”) of the
Company. Each Warrant shall entitle the holder thereof to acquire one common share in
the capital of the Company ( each, a “Warrant Share”) at an exercise price of $0.07 per
Warrant Share for a period of twenty-four (24) months from the date of issuance provided,
however, that should the closing price at which the Common Shares trade on the TSX
Venture Exchange (or any such other stock exchange in Canada as the Common Shares
may trade at the applicable time) exceed CDN$0. 15 for 20 consecutive trading days at
any time following the date that is four months and one day after the c losing date, the
Company may accelerate the Warrant Term (the “ Reduced Warrant Term ”) such that
the Warrants shall expire on the date which is 30 business days following the date a press
release is issued by the Company announcing the Reduced Warrant Term.
The Company may pay certain eligible persons (the “Finders”) a cash commission equal
to 7% of the gross proceeds of the Offering and broker warrants (each, a “ Broker
Warrant”) equal to 7% of the number of Units issued pursuant to the Offering. Each
Broker Warrant shall entitle the holder thereof to acquire one Common Share at a price
of $0.10 per Common Share for a period of two (2) years from the closing of the Offering.
The proceeds from the Offering will be used for the development of a biomass gasification
demonstration unit and other work programs related to: a) Minnova Renewable Energy
development plans and b) the Company's PL Mine, including; permitting, resource
expansion and exploration drill program planning, as well as for general working capital
purposes. There are no proposed payments to Non- Arm’s Length Parties of the
Company, and no proposed payments to persons conducting investor relations activities.
All securities issued pursuant to 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 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.
Minnova Corp. Office: +1 647 985 2785
MCI:TSXV 217 Queen Street W., Suite 401
www.minnovacorp.ca Toronto, Ontario M5V 0R2
This news release does not constitute an offer to sell or a solicitation of an offer to sell
any of 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 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 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 i n 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 Mani toba. Minnova
announced an exclusive agreement to acquire up to 100% of the outstanding share capital of
DUMA Engineering (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
several 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.
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
Minnova Corp. Office: +1 647 985 2785
MCI:TSXV 217 Queen Street W., Suite 401
www.minnovacorp.ca Toronto, Ontario M5V 0R2
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 pro ject 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. T here 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.