Source: Minnova Corp.
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  • Minnova Corp. (MCI) has closed the first tranche of a non-brokered private placement
  • The company issued 2,000,000 units at a price of $0.035 per unit for gross proceeds of $70,000
  • Gorden Glenn acquired 1,000,000 units in the offering
  • Proceeds from this offering will fund development of a planned demonstration plant or the acquisition and modification of an existing, permitted gasification plant
  • Minnova Corp. is an emerging Canadian gold producer with a focus on incorporating clean energy into the restart plan for the PL Gold Mine
  • Minnova Corp. (MCI) opened trading at $0.06

Minnova Corp. (MCI) has closed the first tranche of a non-brokered private placement for gross proceeds of $70,000.

Under the first tranche of its previously announced offering, the company issued 2,000,000 units at $0.035 per unit.

Each unit consists of one common share and one-half of one whole common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share until August 17, 2024.

As the company advances its Minnova Renewable Energy (MRE) strategy to produce green hydrogen from biomass gasification, it has made some important announcements this year.

These announcements highlight development efforts in Manitoba, Canada (Swan River), Romania and Costa Rica.

The development of its third-generation biomass gasification technology offers a global development and high-growth opportunity to participate in the global energy transition.

This financing supports the company’s business development initiatives on a global scale.

“Despite challenging market conditions, this financing highlights new investor interest, strong shareholder support for MRE and the future mine development potential of the PL Gold Mine,” explained Gorden Glenn, President and CEO of Minnova Corp.

“We believe gasification to produce green hydrogen from sustainable biomass represents one of the lowest overall carbon footprints amongst renewable energy sources in the global energy transition, and this is an opportunity that existing shareholders and impact investors understand and appreciate,” he added.

Proceeds from this offering will fund development of a planned demonstration plant or the acquisition and modification of an existing, permitted gasification plant.

Minnova Corp. is an emerging Canadian gold producer with a focus on incorporating clean energy into the restart plan for the PL Gold Mine.

Minnova Corp. (MCI) opened trading at $0.06.


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