VANCOUVER, BC, Sept. 15, 2021 /CNW/ - Minerva Intelligence,
Inc. (TSXV: MVAI) ("Minerva" or the
"Company") is pleased to announce that it is no longer
accepting subscriptions to its previously announced non-brokered
private placement (see press releases dated August 18, August
26 and September 2,
2021). The Company expects to issue approximately 27.3
million units of the Company for total gross proceeds of
approximately $4.5 million. Each unit
consists of one common share at $0.15
and one-half warrant (each full warrant exercisable at $0.25 for 24 months).
Proceeds received from the offering will be used for general
working capital purposes, to fund the company's sales and marketing
strategy, and to enhance the Company's climate risk team.
"This successful fundraising demonstrates the market's desire
for the climate risk tools Minerva is building," said Scott Tillman, CEO of Minerva Intelligence. "We
appreciate the support from our existing investors, welcome our new
shareholders and are excited to get to work."
The Company expects the financing will close shortly and will
release final details upon closing.
About Minerva Intelligence Inc.
Minerva Intelligence Inc. is a software development company
based in Vancouver, Canada, with a
subsidiary office in Darmstadt, Germany. Our proprietary technology is
empowering organizations to make defensable decisions in the face
of climate change.
Although Minerva's applications focus on the search for critical
metals and the assessment of physical climate risk, 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.
