Inventus Mining

Critical Mineral Flow-Through Private Placement and Unit Offering

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

TORONTO, June 29, 2022 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) is pleased to announce a non-brokered private placement for up to 3,500,000 critical mineral⁽¹⁾ flow-through units of the Company (each, a “CMFT Unit”) at a price of $0.15 per CMFT Unit and additionally up to 4,500,000 units of the Company (each, a “Unit”) at a price of $0.105 per Unit, for total gross proceed of up to $997,500 (the “Offering”).

Each CMFT Unit will consist of one (1) common share of the Company to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (each, a “CMFT Share”) and one-half (0.5) of a share purchase warrant. Each whole warrant (a “CMFT Warrant”) shall entitle the holder to purchase one (1) common share of the Company (a “CMFT Warrant Share”) at a price of $0.24 per CMFT Warrant Share until the date which is twenty-four (24) months following the closing of the Offering.

Each Unit will consist of one (1) common share of the Company and one-half (0.5) of a share purchase warrant. Each full warrant (a “Warrant”) entitles the holder to purchase one (1) common share of the Company (a “Warrant Share”) at a price of $0.17 per Warrant Share until the date which is twenty-four (24) months following the Closing of the Offering.

Proceeds from the sale of CMFT Shares will be used to explore for critical minerals (including cobalt, nickel, copper, platinum, and palladium) on the Company’s Sudbury 2.0 project and will be used to incur “Canadian exploration expenses” as defined in subsection 66.1(6) of the Income Tax Act and “flow-through mining expenditures” as defined in subsection 127(9) of the Income Tax Act. Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2022, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of CMFT Shares. Subscribers of CMFT Units are eligible for the new enhanced Critical Minerals Exploration Tax Credit of 30% (compared to 15% for normal flow-through Federal tax deductions). Other proceeds of the Offering will be used to advance bulk sampling and resource estimation at the Pardo Project, and for general corporate purposes.