Minnova Corp. announced a non-brokered private placement of up to 10,000,000 units at a price of CAD 0.05 per unit for aggregate gross proceeds of up to CAD 500,000. Each unit shall be comprised of one common share in the capital of the company and one-half of one whole common share purchase warrant of the Company.

Each Warrant shall entitle the holder thereof to acquire one common share in the capital of the Company at an exercise price of CAD 0.10 per warrant share for a period of twenty-four months from the date of issuance provided, however, that should the closing price at which the Common Shares trade on the TSX Venture Exchange exceed CAD 0.20 for 20 consecutive trading days at any time following the date that is four months and one day after the closing date, the company may accelerate the warrant term such that the warrants shall expire on the date which is 30 business days following the date a press release is issued by the company announcing the reduced warrant term. The Company may pay 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 transaction. 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 years from the closing of the transaction.

All securities issued pursuant to the transaction will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. 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.