TORONTO, November 6, 2024 (GLOBE NEWSWIRE) — Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) is pleased to announce that it has closed the previously announced non-brokered private placement of 15,000,000 units of the Company (each, a “Unit) at a price of $0.04 per unit, for total gross proceeds of $600,000 (the “Offer“). Each unit was composed of one common share of the Company (a “Common stock“) and a common share subscription warrant. Each mandate (a “Ensure“) gives the holder the right to purchase one common share of the Company (a “Warrant Action“) at a price of $0.09 per share of warrant until the date which falls twenty-four (24) months after the closing of the offer.

The expiration date of the Warrants may be accelerated by Inventus if the closing price of the Common Shares on the TSX Venture Exchange (the “TSX Venture Exchange“) is greater than or equal to $0.12 over a consecutive 20-day period. If this occurs, the Company may accelerate the expiration date of the warrants by issuing a press release announcing the reduced term of the warrants. subscription, after which the warrants will expire on the 10th trading day after the date of this press release.

The offering of the Units is subject to obtaining all required corporate and regulatory approvals, including the approval of the TSXV. All securities issued and may be issued under the Offer will be subject to a statutory hold period of four months and one day. Proceeds from the offering will be used to advance the Pardo Project and for general corporate purposes.

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Related party transaction

In connection with the Offering, McEwen Mining Inc. (NYSE/TSX: MUX) (“McEwen”), an affiliate of several insiders of the Company, including Rob McEwen, Stefan Spears and Perry Ing, is acquiring 10,000,000 units for proceeds of $400,000. In addition, certain officers and directors of the Company, including Wesley Whymark, Bill Fisher and Richard Sutcliffe, acquired a total of 875,000 units, for gross proceeds of $35,000. The acquisition of 10,875,000 Units by McEwen and insiders in connection with the Offering is considered a “related party transaction” under Multilateral Instrument 61-101- Protection of minority security holders during special transactions (“MI 61-101“) requiring the Company, in the absence of exemptions, to obtain a formal valuation and minority shareholder approval for the “related party transaction”. The Company relies on an exemption from the formal valuation requirements of the MI 61-101 available because no securities of the Company are listed on specified markets, including the TSX, the New York Stock Exchange, the American Stock Exchange, the NASDAQ or any exchange outside of Canada and the United States other than the Alternative Investment Market of the London Stock Bourse or the PLUS Markets operated by PLUS Markets Group plc. The Company also relies on the exemption from the minority shareholder approval requirements set out in the MI. 61-101, because the fair market value of McEwen’s and the insiders’ interest in the offer does not exceed 25% of the market capitalization of the Company, as determined in accordance with Regulation MI 61-101.

About Inventus Mining Corp.

Inventus is a mineral exploration and development company focused on the world-class mining district of Sudbury, Ontario. Our principal assets are a 100% interest in the Pardo Paleoplacer gold project and the Sudbury 2.0 critical minerals project located northeast of Sudbury. Pardo is the first significant discovery of paleoplacer gold in North America. Inventus has approximately 183 million shares of common stock outstanding.

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For more information, please contact:

Mr. Stefan Spears
CEO
Inventus Mining Corp.
Tel: (647) 408-1849
E-mail: This email address is protected from spambots. You must enable JavaScript to view it.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. No securities exchange, regulation services provider, securities commission or other regulatory authority has approved or disapproved the information contained in this press release.

Forward-looking statements

This press release includes certain “forward-looking statements” that are not historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words indicating that the Company or management expects a stated condition or result to occur. Forward-looking statements can be identified by words such as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “if”, “yet”, ” potential “. , “indeterminate”, “objective” or “plan”. Because forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. The risks, uncertainties and other factors involved in forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information contained in this press release includes, without limitation, the Company’s future objectives, goals or plans, statements, exploration results, potential mineralization, mineral resource estimate, plans exploration and mining development, the time of commencement of operations. and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, without limitation, inability to identify mineral resources, inability to convert estimated mineral resources into reserves, inability to carry out a feasibility study recommending a production decision. , the preliminary nature of metallurgical test results, delays in obtaining or inability to obtain governmental, environmental or other approvals required for the project, political risks, inability to fulfill the duty to accommodate First Nations and other Indigenous peoples, uncertainties related to the availability and costs of financing needed in the future, changes in stock markets, inflation, changes in exchange rates, fluctuations in commodity prices raw materials, delays in project development, investment and operating costs varying significantly from estimates and other risks involved in the mineral exploration and development industry. , and the risks set forth in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information contained in this press release are reasonable, undue reliance should not be placed on such information, which speaks only as of the date of this press release. press release, and no guarantee can be given that such events will occur within the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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