Adventus Announces C$35 Million Bought Deal Prospectus Offering

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, July 28, 2020 (GLOBE NEWSWIRE) -- Adventus Mining Corporation (“Adventus” or the “Company”) (TSX-V: ADZN) has today entered into an agreement with a syndicate of underwriters co-led by Raymond James Ltd., Haywood Securities Inc., and National Bank Financial Inc. (the "Underwriters") pursuant to which the Underwriters have agreed to purchase, on a "bought deal" basis, 27,559,100 common shares of the Company (the "Shares") at a price of C$1.27 per Share (the "Offering Price"), representing total gross proceeds of C$35,000,057 (the "Offering").

In addition, the Company has granted the Underwriters an option (the "Underwriters' Option"), exercisable in whole or in part, for a period of up to 30 days after the closing date of the Offering, to purchase up to 4,133,865 additional Shares at the Offering Price. In the event that the Underwriters' Option is exercised in its entirety, the aggregate gross proceeds of the Offering will be C$40,250,066.

The net proceeds of the Offering will be used by the Company to fund exploration and development activities at the Curipamba project, including the completion of a feasibility study for the El Domo copper-gold deposit, exploration activities at the Pijili and Santiago projects, and general administration and corporate purposes.

The Shares will be offered by way of short form prospectus in British Columbia, Alberta, Ontario, and Newfoundland and Labrador, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions. The Shares will not be offered or sold in the United States except under Rule 144A, Rule 506(b) of Regulation D or in such other manner as to not require registration under the United States Securities Act of 1933, as amended.

Closing is expected to occur on or about August 14, 2020 and is subject to regulatory approval including that of the TSX Venture Exchange and the applicable securities regulatory authorities.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Shares in any state in which such offer, solicitation or sale would be unlawful. The Shares have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.