Adventus Mining Corporation (“Adventus” or the
“Company”)
(TSX-V: ADZN) today announced the
closing of its previously announced bought deal public offering
(the “Offering”). The Offering was completed through a syndicate of
underwriters led by Raymond James Ltd. and National Bank Financial
Inc. as joint bookrunners of the Offering, including BMO Nesbitt
Burns Inc., Cormark Securities Inc., Stifel Nicolaus Canada Inc.,
PI Financial Corp., and Haywood Securities Inc. (collectively, the
“Underwriters”). Pursuant to the Offering, the company issued a
total of 34,569,500 units of the Company (the "Units") at a price
of C$0.97 per Unit (the "Offering Price") and 250,000 common share
purchase warrants of the Company at a price of C$0.10 per warrant,
representing total gross proceeds of C$33,557,415 (the "Offering"),
which includes partial exercise by the Underwriters of their
over-allotment option to acquire an additional 3,639,500 shares and
2,069,750 warrants under the same terms as the Offering.
Each Unit consists of one common share of the
Company and one-half common share purchase warrant (each whole
common share purchase warrant, a “Warrant”). Each Warrant entitles
the holder to acquire one common share of the Company at a price of
C$1.20 with a Warrant expiry date of July 26, 2023.
As part of the Offering, Wheaton Precious Metals
Corp. acquired 3,505,100 Units.
The net proceeds of the offering will be used to
support pre-construction and optimization costs at Curipamba,
infill and expansion drilling at El Domo’s underground deposit, an
initial drill program at the Santiago Project, and for general
corporate purposes and working capital.
The Units were offered by way of a prospectus
supplement filed in British Columbia, Alberta, Ontario, New
Brunswick, Newfoundland and Labrador, and elsewhere in reliance
upon exemptions from registration or the applicable prospectus
requirements under applicable securities laws. The Underwriters
received a cash commission equal to 6.0% of the gross proceeds from
the sale of the Units pursuant to the Offering, which commission
was reduced to 3.0% in respect of certain president’s list
purchasers.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be
any sale of the Units in any state in which such offer,
solicitation or sale would be unlawful. The Units have not been
registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”), and may not be offered or sold
to, or for the account or benefit of, persons in the United States
or U.S. persons (as such terms are defined in Regulation S under
the U.S. Securities Act) absent registration or an applicable
exemption from the registration requirements.
About Adventus MiningAdventus
Mining Corporation is an Ecuador-focused copper-gold exploration
and development company. Adventus Mining is 75%-owner of the 215
km2 Curipamba copper project, which has a completed feasibility
study on the shallow and high-grade El Domo deposit. In addition,
Adventus Mining is engaged in a country-wide exploration alliance
with its partner in Ecuador, which has incorporated the Pijili and
Santiago copper-gold porphyry projects to date. Outside of Ecuador,
Adventus Mining owns an exploration project portfolio in Ireland
with South32 Limited as funding partner. Its strategic shareholders
include Altius Minerals Corporation, Greenstone Resources LP,
Wheaton Precious Metals Corp., and the Nobis Group of Ecuador.
Adventus Mining is based in Toronto, Canada, and is listed on the
TSX Venture Exchange under the symbol ADZN and trades on the OTCQX
under the symbol ADVZF.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release.
This press release contains "forward -looking
information" within the meaning of applicable Canadian securities
laws. Any statements that express or involve discussions with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but
not always, identified by words or phrases such as "believes",
"anticipates", "expects", "is expected", "scheduled", "estimates",
"pending", "intends", "plans", "forecasts", "targets", or "hopes",
or variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "will",
"should" "might", "will be taken", or "occur" and similar
expressions) are not statements of historical fact and may be
forward-looking statements.
Forward-looking information herein includes, but
is not limited to, statements that address activities, events or
developments that Adventus expects or anticipates will or may occur
in the future including the proposed use of proceeds . Although
Adventus has attempted to identify important factors that could
cause actual actions, events or results to differ materially from
those described in forward-looking information, there may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
such information will prove to be accurate, and actual results and
future events could differ materially from those anticipated in
such information. Accordingly, readers should not place undue
reliance on forward-looking information. Adventus undertakes to
update any forward-looking information except in accordance with
applicable securities laws.
For further information from Adventus, please
contact Christian Kargl-Simard, President and Chief Executive
Officer, at +1-416-230-3440 or christian@adventusmining.com.
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