VANCOUVER, BC,
Aug. 26, 2021 /CNW/ -
Minerva Intelligence Inc. (TSXV:
MVAI) ("Minerva" or the "Company") is pleased to
announce its that it has upsized its previously announced (see
press release dated August 18, 2021)
financing to $3,500,000. The Company
will issue up to 23,333,333 shares through the sale of units at
$0.15 per unit; each unit to consist
of one common share and one half warrant (each full warrant
exercisable at $0.25 for 24
months).
Proceeds received from the offering will be used, as to roughly
one-third each, for general working capital purposes, to fund the
Company's sales and marketing strategy, and to make key hires
within the Climate Risk group. The Company is unaware of any
material facts or material changes regarding Minerva and its
business that have not been generally disclosed through previous
press releases and financial statements. The Company may pay
finders' fees in accordance with the policies of the TSX Venture
Exchange.
About Minerva Intelligence Inc.
Minerva Intelligence Inc. is a knowledge engineering company
based in Vancouver, Canada, with a
subsidiary office in Darmstadt, Germany. Our proprietary evidence-based
decision-making software is bringing the benefits of artificial
intelligence technology to industries dependent on reasoning with
complex technical and scientific data.
Although Minerva's applications currently focus on earth
science-related domains including natural hazards and mineral
exploration, their technology has application in diverse industries
and domains.
Minerva's common shares are currently listed on the TSX Venture
Exchange (symbol MVAI). For further details, please refer to
their website www.minervaintelligence.com or follow
Minerva on Twitter or LinkedIn.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction. The
securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any state securities laws and may not be
offered or sold within the United
States or to, or for the account or benefit of, "U.S.
persons," as such term is defined in Regulation S under the U.S.
Securities Act, unless an exemption from such registration is
available.
Cautionary Note Regarding Forward-Looking Statements
Forward Looking Information: This news release includes
certain information that may be deemed "forward-looking
information". Forward-looking information can generally be
identified by the use of forward-looking terminology such as "may,"
"will," "expect," "intend," "estimate," "anticipate," "believe,"
"continue," "plans," or similar terminology. All information in
this release, other than information of historical facts,
including, without limitation, the availability of financing to the
Company are forward-looking information that involve various risks
and uncertainties. Although the Company believes that the
expectations expressed in such forward-looking information are
based on reasonable assumptions, such expectations are not
guarantees of future performance and actual results or developments
may differ materially from those in the forward-looking
information. Forward-looking information is based on a number of
material factors and assumptions. Factors that could cause actual
results to differ materially from the forward-looking information
include changes in project parameters as plans continue to be
refined, future metal prices, availability of capital and financing
on acceptable terms, general economic, market or business
conditions, regulatory changes, delays in receiving approvals, and
other risks detailed herein and from time to time in the filings
made by the Company with securities regulatory authorities in
Canada. Mineral exploration and
development of mines is an inherently risky business. Accordingly,
actual events may differ materially from those projected in the
forward-looking information. For more information on the Company
and the risks and challenges of our business, investors should
review our continuous disclosure filings which are available at
www.sedar.com. Readers are cautioned not to place undue reliance on
forward-looking information. The Company does not undertake to
update any forward-looking information, except in accordance with
applicable securities laws.
The TSX Venture Exchange has neither approved nor disapproved
of the contents of this press release. 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 press
release.
SOURCE Minerva Intelligence Inc.
