Toronto, Ontario--(Newsfile Corp. - May 16, 2024) - Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) ("Minnova" or the "Company"), is an evolving resource development company with an exciting green hydrogen and cleantech innovation strategy to compliment our development-stage PL Gold Mine restart plan.
We are pleased to announce the appointment of Mr. Jean-Pierre Colin ("JP") to our advisory board effective today's date. Mr. Colin is a member of the Bar of the Province of Québec and has a distinguished career spanning more that 4 decades with demonstrated expertise as an investment banker and business consultant having financed hundreds of mining exploration and mine development companies and advising (and in some cases orchestrating) several multi-billion-dollar M&A transactions. Mr. Colin currently serves as CFO, Executive Vice President and Director of dynaCERT Inc., a TSX listed hydrogen technology company. In addition, Mr. Colin is a founding Director and Corporate Secretary of Cipher Neutron Inc., a global, Toronto-based, researcher, designer and manufacturer of innovative hydrogen electrolysers.
Gord Glenn, President & CEO commented, "The addition of JP to the advisory board marks yet another positive development as we advance; i) the restart of the PL Gold Mine, ii) continue discussions with regulators, service providers and technology and electrolyser OEM's for the development of the Flin Flon Clean Energy Hub and iii) continue developing Minnova Renewable Energy's global clean tech strategy. Having worked with JP in the past we welcome JP's experience in finance, M&A, restructuring and intimate knowledge of hydrogen electrolysis technologies and the potential for green hydrogen production to reduce CO2 emissions."
Pursuant to the Company's LTIP the Company announces that its board of directors has approved an option grant of 1,000,000 options to purchase common shares of the Company exercisable at a price of $0.09 per common share for a period of 5 years, to certain directors, officers, employees, and consultants including a grant of options for 200,000 common shares to Mr. Colin in his capacity as an advisor to the Company. The common shares issuable upon exercise of the options are subject to a four month hold period from the original date of grant. These stock options vest immediately.
About Minnova Corp.
Minnova Corp. is an evolving cleantech company building a worldwide pipeline of green energy projects. Our subsidiary, Minnova Renewable Energy, is focused on innovative carbon reduction technologies such as biomass gasification technology. Separately the company is advancing large scale green hydrogen production via electrolysis at its Flin Flon Clean Energy Hub initiative.
Prior to 2021 Minnova Corp. has focused on the restart of its PL Gold Mine, which included completion of a Positive Feasibility Study in 2018. The study concluded the restart of the PL Mine, at an average annual production rate of 46,493 ounces over a minimum 5-year mine life, was economically robust. Importantly the global resource remains open to expansion, as does the reserve. The PL Gold Mine benefits from a short pre-production timeline forecast at 15 months, a valid underground mining permit (Environment Act 1207E), an existing 1,000 tpd processing plant, over 7,000 meters of developed underground ramp to -135 metres depth. The project is fully road accessible and close to existing mining infrastructure in the prolific Flin Flon Greenstone Belt of Central Manitoba.
For more information please contact:
Minnova Corp. Gorden Glenn President & Chief Executive Officer
For further information, please contact Investor Relations at 647-985-2785 or [email protected].
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information regarding the Company including management's assessment of future plans and operations, that may involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has been completed on the PL Gold Mine development project but there is no certainty the disclosed targets will be achieved nor that the proposed operations will be economically viable. Minnova has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information. Forward-looking information is provided for the purpose of providing information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking information or to explain any material difference between subsequent actual events and such forward-looking information, except to the extent required by applicable law. There may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as 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. Minnova does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 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.
