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Source: Mining.com
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  • Minnova (MCI) has announced a non-brokered private placement for gross proceeds of up to $500,000
  • The company will issue up to 5,000,000 common shares at a price of $0.10 per share
  • The proceeds of the offering will be used primarily for the re-start of mining operations at the PL Mine in Manitoba
  • Minnova Corp. is an emerging Canadian gold producer
  • Minnova Corp. (MCI) opened trading at C$0.185 per share

Minnova (MCI) has announced a non-brokered private placement for gross proceeds of up to $500,000.

The company will issue up to 5,000,000 common shares at a price of $0.10 per share.

The proceeds of the offering will be used for the purchase of the power line from Manitoba Hydro and work programs related to renewable energy development plans and exploration and re-start of mining operations at the PL Mine located in central Manitoba.

Closing of the offering is subject to receipt of all necessary regulatory approvals, including the TSXV. All securities issued in connection with the offering will be subject to a hold period of four months.

Minnova Corp. is a Canadian gold producer focused on restarting the PL Gold Mine and expanding gold resources on its PL and Nokomis gold deposits.

Minnova Corp. (MCI) opened trading at C$0.185 per share.

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