Adventus Mining Closes C$35 Million Bought Deal Prospectus Offering

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TORONTO, Aug. 14, 2020 (GLOBE NEWSWIRE) -- Adventus Mining Corporation (“Adventus” or the “Company”) (TSX-V: ADZN) announces it has completed its bought deal prospectus offering announced on July 28, 2020 (the “Offering”). Raymond James Ltd., Haywood Securities Inc., and National Bank Financial Inc. acted as co-lead underwriters of the Offering, with participation by Cormark Securities Inc., BMO Capital Markets Inc., Eight Capital, and Laurentian Bank Securities Inc. (collectively, the “Underwriters”). Pursuant to the Offering, the Company issued a total of 27,559,100 common shares of the Company (the "Shares") at a price of C$1.27 per Share (the "Offering Price"), representing aggregate gross proceeds of C$35,000,057.

Adventus has granted the agents an overallotment option, exercisable in whole or in part, at the sole ‎discretion of the Underwriters, at any time and from time to time, for a period of 30 days following the closing ‎of the Offering, to purchase up to an additional 4,133,865 million common shares from Adventus at the Offering ‎Price for additional gross proceeds to the Company of C$5,250,009 if the overallotment option is exercised in ‎full.‎

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 were offered by way of short form prospectus in British Columbia, Alberta, Ontario, New Brunswick and Newfoundland and Labrador pursuant to National Instrument 44-101 – Short Form Prospectus Distributions. The Shares were not 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. The Underwriters received a cash commission equal to 5.5% of the gross proceeds from the sale of the Shares pursuant to the Offering, which commission was reduced to 2.75% or 1.0% in respect of certain president’s list purchasers.