- Inventus Mining Corp. (IVS) has announced a private placement and unit offering for proceeds of up to $997,500
- Inventus is a mineral exploration and development company based in Sudbury, Ontario
- Included in the transaction is 3.5 million critical mineral flow-through (CMFT) for $0.15 each and an extra 4.5 million units of for $0.105 per unit
- Proceeds from CMFT share sales will be used for the Sudbury 2.0 project and exploration expenses
- Other proceeds will go to advancing the Pardo Project, and general corporate purposes
- Inventus Mining Corp. (IVS) is down 4.35 per cent trading at $0.11 per share as of 4:18 p.m. ET
Inventus Mining Corp. (IVS) has announced a private placement and unit offering for proceeds of up to $997,500.
Inventus is a mineral exploration and development company focused on the mining district of Sudbury, Ontario. Its principal assets are a 100% interest in the Pardo Paleoplacer Gold Project and the Sudbury 2.0 Critical Mineral Project.
Included in the transaction is 3.5 million critical mineral flow-through (CMFT) units for $0.15 each and an extra 4.5 million units for $0.105 per unit.
Each CMFT unit will include one common share issued on a flow-through basis and one-half of a share purchase warrant. Each whole warrant gives the holder the right to purchase one common share for $0.24 per unit for two years.
Each regular unit will have one common share and one-half of a share purchase warrant. Each full warrant allows the holder to purchase one common share for $0.17 per warrant share for a two year period.
Proceeds from the sale of CMFT shares will be used to explore for critical minerals on the Sudbury 2.0 project and exploration expenses. Other proceeds will be used to advance bulk sampling and resource estimation at the Pardo Project, and for general corporate purposes.
According to Inventus, CMFT subscribers are eligible for a new tax fredit of 30 per cent, twice as much as a normal flow-through tax deduction.
Inventus Mining Corp. (IVS) is down 4.35 per cent, trading at $0.11 per share as of 4:18 p.m. ET.