INV Metals Announces Closing of Private Placement Financing
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
TORONTO, ON – APRIL 15, 2016 – INV Metals Inc. (“INV Metals” or the “Company”) (TSX:INV) is pleased to announce the closing of its non-brokered private placement (the “Private Placement”) of 15,000,000 common shares (“Shares”) at a price of $0.20 per Share for aggregate gross proceeds of $3 million, as previously announced on April 11, 2016.
A material change report in respect of the Private Placement will be filed by the Company. The material change report will be filed less than 21 days prior to the closing of the Private Placement, which is necessary in order to permit the Company to close the Private Placement in accordance with the conditional approval of the Toronto Stock Exchange for the Private Placement. Insiders of the Company acquired 4,942,095 Shares under the Private Placement.
About INVTM Metals
INVTM Metals is an international mineral resource company focused on the acquisition, exploration and development of base and precious metal projects in Ecuador and Namibia. Currently, INVTM Metals’ primary assets are: (1) its 100% interest in the Loma Larga (formerly Quimsacocha) gold property in Ecuador, and (2) its 35% interest in the Kaoko property, located in Namibia.