Minnova Corp. Announces Non-Brokered Private Placement of up to $1,000,000

Minnova Corp. (TSXV:MCI) (“Minnova” or the “Company“), an advanced-stage mining exploration and development company focused on the advancement and re-start of its 100% owned PL Mine in central Manitoba, is pleased to announce that it intends to complete a non-brokered private placement offering of up to 1,538,462 flow-through Units (“Flow-Through Units“) at a price of $0.65 per Flow-Through Unit, for gross proceeds of up to $1,000,000 (the “Offering“). Each Flow-Through Unit will consist of one common share (a “Common Share“) of the Company issued on a flow-through basis and one-half of one common share purchase warrant (each whole warrant, a “Warrant“) with each Warrant entitling the holder thereof to purchase one Common Share at an exercise price of $0.75 for a period of 18 months from the closing date of the Offering.
The closing of the Offering is expected to occur on or about November 27, 2017 and is subject to the completion of formal documentation, including but not limited to receipt of regulatory approvals, including approval of the TSX Venture Exchange. All securities issued pursuant to the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering.
The net proceeds of the Offering will be used for work programs related to advancement and re-start of mining operations at the Company’s PL Mine, including 2,000 meter drill program targeting resource expansion and property wide exploration, as well as for general working capital purposes.
This news release does not constitute an offer to sell or a solicitation of an offer to buy 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 as defined under applicable securities laws 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 focused on re-starting the PL Gold Mine and expanding gold resources on its PL and Nokomis gold deposits. The Company has completed a Positive Feasibility Study in support of re-starting 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 relatively short pre-production timeline forecast at 15 months, benefits from a valid underground mining permit (Environment Act 1207E), an existing 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 — Snow Lake Greenstone Belt of Central Manitoba.
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 info@minnovacorp.ca.
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 not been completed and there is no certainty the disclosed targets will be achieved nor that the proposed operations will be economically viable. Although Minnova has attempted to identify important factors that could cause actual results to differ materially from those contained in 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 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.
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.
Click here to connect with Minnova Corp. (TSXV:MCI) for an Investor Presentation.

Source: www.newsfilecorp.com