Minnova Corp. announced a non-brokered private placement of up to 10,000,000 units at a price of CAD 0.035 per unit for aggregate gross proceeds of up to CAD 350,000 on July 20, 2022. Each Unit shall be comprised of one common share and one-half of one whole common share purchase warrant.

Each Warrant shall entitle the holder thereof to acquire one common share at an exercise price of CAD 0.07 per Warrant Share for a period of twenty-four (24) months from the date of issuance. The Company may pay certain eligible persons, the Finders a cash commission equal to 7% of the gross proceeds of the offering and broker warrants equal to 7% of the number of units issued pursuant to the offering. Each broker warrant shall entitle the holder thereof to acquire one Common Share at a price of CAD 0.10 per common share for a period of two (2) years from the closing of the offering.

All securities issued pursuant to the offering will be subject to a hold period of four months plus a day from the date of issuance. The closing of the transaction is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.