Inomin Announces Non-Brokered Private Placement

April 11, 2024 1:22 PM EDT | Source: Inomin Mines Inc.

Vancouver, British Columbia--(Newsfile Corp. - April 11, 2024) - Inomin Mines Inc. (TSXV: MINE) ("Inomin" or the "Company") is pleased to announce a non-brokered private placement (the "Financing") of up to 10,000,000 units (the "Units") at $0.05 per Unit for gross proceeds of up to $500,000. Each Unit will be comprised of one common share of the Company (a "Share") and one-half of one Share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant will be exercisable to purchase a Share at a price of $0.10 per share for a period of 24 months from the date of issuance thereof. The Company may accelerate the expiry date of the Warrants, if the closing price of the shares is $0.20 or greater for a period of ten consecutive trading days, by issuing a press release or other form of notice permitted by the certificates governing the Warrants, provided that the accelerated expiry date shall not be less than 30 days from the date notice is given.

Inomin intends to use the gross proceeds raised from the Financing for general working capital and to advance the Company's property interests, including initiatives to support follow-up drilling at the Company's Beaver-Lynx project where Inomin has made discoveries of magnesium plus nickel, chromium, and cobalt - all critical minerals. The Company's objective for the next drilling program at Beaver-Lynx is to delineate a maiden resource. Exploration, including drilling at Beaver-Lynx, has identified multiple mineral exploration targets.

The Company may pay finders' fees comprised of cash and non-transferable Share purchase warrants in connection with the Financing, subject to compliance with the policies of the TSX Venture Exchange (the "TSXV"). All securities issued and sold under the Financing will be subject to a hold period expiring four months and one day from the date of issuance. Completion of the Financing and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSXV.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

Inomin Mines Director, L. John Peters, P.Geo., a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information in this news release.

About Inomin Mines

Inomin Mines is focused on the identification, acquisition, and exploration of mineral properties with strong potential to host significant resources, especially critical minerals, as well as gold and silver projects. Inomin trades on the TSX Venture Exchange under the symbol MINE. For more information visit and follow us on Twitter @InominMines.

On behalf of the board of Inomin Mines:

Inomin Mines Inc.
Per: "John Gomez"
President and CEO

For more information please contact:

John Gomez

Neither 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 release.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, completion of the Financing, the use of proceeds from the Financing and the payment of finders' fees under the Financing.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will receive the necessary regulatory approvals in respect of the Financing and that the Company will use the proceeds from the Financing as currently anticipated.

These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, the Company not receiving the necessary regulatory approvals in respect of the Financing; recent market volatility; the Company not using the proceeds from the Financing as currently anticipated; and the state of the financial markets for the Company's securities.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

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