Toronto, Ontario--(Newsfile Corp. - September 11, 2025) - Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) ("Minnova" or the "Company") announces that its common shares (the "Common Shares") will be reinstated on the TSX Venture Exchange (the "TSXV"). This follows the successful resolution of the cease trade order issued by the Ontario Securities Commission (the "OSC") on August 5, 2025, which was revoked by the OSC on August 6, 2025.
Pursuant to the TSXV trading reinstatement review, the Company is providing the following disclosure. As of July 31, 2025, the Company has a working capital deficiency of $544,611. The Company plans to complete a private placement (the "Offering") to address the deficiency and fund ongoing work programs at the PL Gold Mine, including up to 10,000 meters of drilling, ore sorting test work and updated NI 43-101 compliant techno-economic studies. Once the Company determines the details of the Offering, the Company will issue a press release disclosing same.
PL Gold Mine Development Update
The Company engaged A&B Global Mining (see press release of August 21, 2025) and is advancing on plans for an updated Mineral Resource Estimate (MRE) and preliminary open pit and underground mine design and layout. Work is well underway on a new mine development plan that considers the current gold price, restarting mining operations from open pits that can provide 1,000 tonnes per day run-of-mine (ROM) ore to the mill before transitioning to underground mining operations.
About Minnova Corp.
Minnova Corp. is focused on the restart of its PL Gold Mine, which included completion of a Positive Feasibility Study in 2018, based on a gold price of US$1,250 per ounce. 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
Tel: (647) 985-2785
For further information, please contact Investor Relations: info@minnovacorp.ca
Visit our website at www.minnovacorp.ca.
Forward-Looking Statements
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.
This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/266118
SOURCE: Minnova Corp.
