Inomin Provides Update on La Gitana Transaction and Announces Closing of Private Placement in Trust
Inomin Mines Inc. 400 Burrard Street, Suite 1130, Vancouver, BC Canada V6C 3A6
www.inominmines.com
NEWS RELEASE
Inomin Provides Update on La Gitana Transaction and Announces
Closing of Private Placement in Trust
Vancouver, British Columbia, October 7, 2020 – Inomin Mines Inc. (TSX.V: MINE) ("Inomin” or the “Company")
announces that, further to its news release dated August 4, 2020, the Company has received conditional approval
from the TSX Venture Exchange (the "TSXV") of its proposed acquisition of a 100% interest in the La Gitana and
Pena Blanca gold-silver projects located in Oaxaca, Mexico (the "Transaction").
In connection with the Transaction, the Company also announces that it has closed its non -brokered private
placement in trust, pending final approval fr om the TSXV, for gross proceeds of $40 0,500 (the “Private Placement”).
The Company issued 5,340,000 common shares in the capital of the Company (each a "Share") priced at $0.075 per
Share under the Private Placement.
All securities issued under the Privat e Placement are subject to a four month and one day hold period. The proceeds
of the Private Placement will be held in trust pending final approval of the Transaction. Final approval of the
Transaction is subject to Inomin providing the TSXV additional inf ormation on the La Gitana property including
completing a technical report.
As consideration for Peak Asset Management Pty Ltd. (“Peak”) introducing subscribers to the Company under the
Private Placement, Peak is entitled to a finder’s fee of $20,000 cash, comprised of a management fee equal to 1% of
funds raised and a capital raising fee of 7% of funds raised through subscribers introduced to the Company by Peak
under the Private Placement. Peak is also entitled to 266,666 Inomin common share purchase w arrants (each a
"Warrant"), with each Warrant entitling the holder to purchase an additional Share at an exercise price of $0. 08 per
Share until December 31, 2022.
Inomin intends to use the proceeds of the Private Placement to establish operations in Mexi co to move forward with
the La Gitana project.
About Inomin Mines
Inomin Mines is engaged in the identification, acquisition and exploration of mineral properties especially gold and
nickel projects that display strong potential to host significant min eral resources. Inomin is completing the acquisition
of the La Gitana and Pena Blanca gold -silver properties in Mexico. The C ompany holds a 100% interest in the
Beaver-Lynx sulphide nickel project in south-central British Columbia, and the Fleetwood zinc-copper-gold-silver VMS
project in south -west British Columbia. Inomin also owns 100% of the King’s Point gold -copper-zinc project in
Newfoundland under option to Maritime Resources Corp. (TSX.V MAE). Inomin trades on the TSX Venture Exchange
under the symbol MINE. For more information visit www.inominmines.com and follow us on Twitter @InominMines.
On behalf of the board of Inomin Mines:
Inomin Mines Inc.
Per: “John Gomez”
President and CEO
For more information please contact:
John Gomez
Tel. 604.566.8703
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the T SX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Inomin Mines Inc. 400 Burrard Street, Suite 1130, Vancouver, BC Canada V6C 3A6
www.inominmines.com
Forward Looking Information
This release includes certain statements and information that may constitute forward -looking information within the
meaning of app licable Canadian securities laws. Forward -looking statements relate to future events or future
performance and reflect the expectations or beliefs of management of the Company regarding future events.
Generally, forward -looking statements and information c an be identified by the use of forward -looking terminology
such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events
or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as
"forward‐looking statements", are not historical facts, are made as of the date of this news release and include
without limitation, statements regarding the use of proceeds of the Private Placement.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially
from results suggested in any forward-looking statements. These risks and uncertainties include, among other things,
recent market volatility; and the state of the financial markets for the Company’s securities.
In making the forward looking statements in this news release, the Company has applied several material
assumptions, including without limitation, that the Company will use the proceeds of the Private Placement as stated.
Although management of the Company has attempted to identify important factors that could cause actual results to
differ materially from those contained in forward -looking statements or forward -looking information, there may be
other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-
looking information. Readers are cautioned that reliance on such information may not be appropriate for other
purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or
financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We
seek safe harbor.