Inovent Financing Expanded to Include Investments Through an Investment Dealer

Vancouver, British Columbia--(Newsfile Corp. - November 1, 2016) - Inovent Capital Inc. (TSXV: IVQ.P) ("Inovent" or the "Company") is pleased to announce that it has expanded its non-brokered private placement (the "Financing") to provide for investments though an Investment Dealer in the jurisdictions in Canada were this exemption applied. The Financing is expected to close concurrent with and to provide funding for the Company's acquisition of a 100% interest in the King's Point gold property in Newfoundland (the "Property"), which will constitute the Company's Qualifying Transaction ("QT") under the rules of the TSX Venture Exchange's respecting Capital Pool Companies.

The Financing consists of a non-brokered private placement of approximately 7.1 million units ("Units") at a price of $0.07 per Unit. Each Unit will consist of one common share and one non-transferable warrant. Each warrant will entitle the holder to purchase one additional share at a price of $0.10 for a period of 2 years from the closing date.

The following is a summary of the use of the proceeds from the Financing:

Minimum OfferingMaximum Offering
Gross Proceeds from Financing$450,000$550,000*
Costs of Financing and QT$75,000$75,000
Exploration Program (recommended in NI43-101 Technical Report on the Property prepared for Inovent$200,000$200,000
Working Capital$175,000$275,000


*subject to increase at the discretion of Inovent

In addition to above, the Company may pay finder's fees to eligible finders. Payment of finder's fees and completion of the private placement are subject to the acceptance of the TSX Venture Exchange. There are no undisclosed material facts or material changes respecting Inovent.

On behalf of the board of Inovent:

Per:"David Brett"
David H. Brett, MBA
Chief Executive Officer & Director

For more information please contact:

John Gomez, Director
Tel. 604­484­7118

David Brett
Tel.  604­682­2421

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including 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, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

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 release.

Not for distribution to United States newswire services or for dissemination in the United States.