Source: Mining.com
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  • Minnova Corp. (MCI) has announced a non-brokered private placement for gross proceeds of up to $350,000
  • The company will issue up to 10,000,000 units at $0.035 per unit
  • The proceeds will be used for the development of a biomass gasification demonstration unit and other work programs
  • Minnova Corp. is an emerging Canadian gold producer
  • Minnova Corp. (MCI) is up 14.29 per cent on the day, trading at C$0.04 per share at 4 pm ET

Minnova Corp. (MCI) has announced a non-brokered private placement for gross proceeds of up to $350,000.

The company will issue up to 10,000,000 units at $0.035 per unit. Each unit will include one common share and one-half of one share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share for a period of 24 months.

Warrants are subject to an acceleration clause.

The company may pay a cash finder’s fee and issue broker warrants to eligible finders. 

The proceeds will be used for the development of a biomass gasification demonstration unit and other work programs.

All securities issued will be subject to a four-month hold period. The closing of the offering is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

Minnova Corp. is an emerging Canadian gold producer with a focus on incorporating clean energy into the restart plan for the PL Gold Mine. The company has established a subsidiary, Minnova Renewable Energy, which is targeting green hydrogen production.

Minnova Corp. (MCI) is up 14.29 per cent on the day, trading at C$0.04 per share at 4 pm ET.

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