Inventus Mining announces private placement with McEwen Mining investment

Inventus Mining announced a non-brokered private placement of up to 15,000,000 units of the Company at a price of $0.04 per Unit, for total gross proceed of up to $600,000. McEwen Mining (MUX) has agreed to purchase 10,000,000 Units of the Offering. Each Unit will consist of one common share of the Company and one common share purchase warrant. Each warrant entitles the holder to purchase one Common Share of the Company at a price of $0.09 per Warrant Share until the date which is twenty-four months following the closing of the Offering. The expiry date of the Warrants may be accelerated by Inventus if the closing price of the Common Shares on the TSX Venture Exchange is greater than or equal to $0.12 over a consecutive 20-day period. If this occurs, the Company may accelerate the expiry date of the Warrants by issuing a press release announcing the reduced Warrant term whereupon the Warrants will expire on the 10th trading day after the date of such press release. Proceeds of the Offering will be used to advance exploration and resource estimation at the Pardo Paleoplacer Gold Project, and for general corporate purposes. The Offering is subject to the receipt of all required corporate and regulatory approvals including the approval of the TSXV. All securities issued under the Offering are subject to a statutory four-month and one day hold period.