Inventus Mining Completes Private Placement Financing

Not for Distribution to United States Wire Services or Dissemination in The United States

TORONTO, Jan. 20, 2020 (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 12,400,000 units of the Company (“Units”) at $0.105 per Unit for gross proceeds of $1.3 million (the “Offering”). Each Unit consists of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant is exercisable into a Common Share at $0.17 for two years.

The Offering of the Units is subject to the receipt of all required corporate and regulatory approvals including the approval of the TSX Venture Exchange (“TSX-V”). All securities issued and issuable pursuant to the Offering will be subject to a four month and one day statutory hold period. Proceeds of the Offering will be used to fund exploration on the Sudbury 2.0 Project, to advance bulk sampling at the Pardo Project, and for general corporate purposes.

In connection with the Offering, the Company paid a commission of $51,453 and issued 816,720 finders’ warrants with each finders’ warrant exercisable into a Unit at $0.105 per Unit for a period of one year.

Related Party Transaction

In connection with the Offering, certain insiders of the Company, including officers, holders of 10% or more of the issued and outstanding common shares of the Company and directors of 10% holders, have agreed to acquire an aggregate 4,666,529 Units, for gross proceeds of $489,986. The acquisition of 4,666,529 Units by insiders in connection with the Offering will be considered a "related party transaction" pursuant to Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions ("MI 61-101") requiring the Company, in the absence of exemptions, to obtain a formal valuation for, and minority shareholder approval of, the “related party transaction”. The Company is relying on an exemption from the formal valuation requirements of 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 stock exchange outside of Canada and the United States other than the Alternative Investment Market of the London Stock Exchange or the PLUS markets operated by PLUS Markets Group plc. The Company is also 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 the insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101.