Inventus Announces Upsize of Non-Brokered Flow-Through Financing to $2.5 Million
Rhea-AI Summary
Inventus Mining (OTC:GNGXF) upsized a non-brokered flow-through private placement to $2.5 million. The Offering consists of up to 8,771,930 flow-through shares at $0.285 per share to fund accelerated exploration drilling at the Pardo Gold Project ahead of a maiden resource estimate. Proceeds will be renounced as Canadian exploration expenses with an effective date no later than December 31, 2026. The Offering is expected to close on or around April 30, 2026, is subject to TSX Venture Exchange approval, may pay finders' fees up to 6%, and could include insider participation relying on MI 61-101 exemptions.
Positive
- $2.5M gross proceeds targeted
- 8,771,930 flow-through shares at $0.285
- Proceeds to accelerate Pardo exploration drilling before maiden resource
- Renouncement of Canadian exploration expenses by Dec 31, 2026
Negative
- Issuance of up to 8.77M shares will dilute existing shareholders
- Finders' fees up to 6% payable in cash and warrants
- Closing is subject to TSX-V approval, not finalized
- Insider participation is possible and treated as a related-party transaction
AI-generated analysis. How Rhea-AI works. Not financial advice.
Not for Distribution to United States Wire Services or Dissemination in the United States
TORONTO, ON / ACCESS Newswire / April 27, 2026 / Inventus Mining Corp. (TSXV:IVS) ("Inventus" or the "Company") is pleased to announce an upsize to its previously announced non-brokered flow-through private placement of common shares for gross proceed of up to
The Offering will consist of up to 8,771,930 flow-through common shares of the Company (the "FT Shares") at a price of
Proceeds of the Offering, along with anticipated bulk sample cash-flow, will be used to accelerate exploration drilling at the Pardo Gold Project prior to the Company's maiden resource estimate and will be used to incur "Canadian exploration expenses" as defined in subsection 66.1(6) of the Income Tax Act and "flow-through mining expenditures" as defined in subsection 127(9) of the Income Tax Act. Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2026, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of the FT Shares.
The Offering is expected to close on or around April 30, 2026 and is subject to the receipt of all required corporate and regulatory approvals including the approval of the TSX Venture Exchange (the "TSX-V"). In connection with the Offering, the Company may, in accordance with the policies of the TSX-V, pay finders' fees to arm's length parties of up to
The Company also anticipates that insiders may subscribe for FT Shares. The issuance of FT Shares to insiders is considered a related party transaction subject to MI 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on the exemption from minority shareholder approval requirements set out in MI 61-101 as the fair market value of the participation in the Offering by insiders does not exceed
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Neither 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.
For further information visit www.inventusmining.com, or contact:
Wesley Whymark
CEO
Inventus Mining Corp.
E-mail: wesley@inventusmining.com
Phone: 705-822-3005
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About Inventus Mining Corp.
Inventus is a mineral exploration and development Company focused on the world-class mining district of Sudbury, Ontario. We have a
Forward-Looking Statements
This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "if", "yet", "potential", "undetermined", "objective", or "plan". Since 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. Risks, uncertainties and other factors involved with 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 in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to the failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out 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 in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in 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.
SOURCE: Inventus Mining Corp.
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