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Inventus Mining raises C$1.6M for Pardo gold project

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Inventus Mining raises C$1.6M for Pardo gold project

Inventus MiningCorp. said April 11 that a previouslyannounced private placement of 8% senior secured convertible debenturesnetted C$1.3 million, from a target of up to C$2.0 million.

Proceeds will go toward the development of a bulk sampling programat the Pardo goldproject in Ontario and for working capital.

In connection with the offering, Chairman and CEO Wayne Whymarkacquired flow through special warrants of C$250,000 exercisable at 5 cents per warrant,and Evanachan Ltd. purchased C$500,000 of debentures.

Osisko Gold RoyaltiesLtd. also bought C$300,000 in debentures. Altogether, just under C$1.6million was raised.