Vancouver, British Columbia , June 16, 2023 (GLOBE NEWSWIRE) -- Minerva Intelligence Inc. (TSXV: MVAI) (OTCQB: MVAIF) (“Minerva” or the “Company”) announces its intention to complete a private placement to raise up to $1,000,000 through the sale of up to 20,000,000 common shares at $0.05 per share.
Proceeds received from the offering will be used to advance and finalize the development of the Company’s climate related products, and for general working capital purposes.
The Company may pay finders’ fees in accordance with the policies of the TSX Venture Exchange. A four month hold period will apply to any common shares sold upon the closing of this offering.
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.
About Minerva Intelligence Inc.
Minerva Intelligence Inc. is a leader in AI driven technology focused on Climate Risk and ESG compliance. Minerva uses cutting-edge AI technologies to address pressing challenges faced by businesses and communities. We specialize in climate science and AI, extracting valuable insights from complex data sets and providing actionable recommendations to our clients.
Minerva's proprietary AI technology is rooted in hazard mapping and climate modeling, enables us to extract valuable insights and package them into actionable ways for a diverse range of applications. With our expertise and technology, we help clients thrive in the face of an ever-changing climate. Minerva's common shares are currently listed on the TSX Venture Exchange (symbol MVAI). For further details, please visit our website www.minervaintelligence.com or follow us on Twitter or LinkedIn.
For further information:
Mihalis Belantis, Chief Executive Officer
+1 (604) 620-1051
investors@minervaintelligence.com
Cautionary Note Regarding Forward-Looking Statements: This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including, without limitation, statements with respect to the business strategy and objectives of the Company are forward-looking statements that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking statement 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 statement. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from the forward-looking statements include changes in project parameters as plans continue to be refined, availability of capital and financing on acceptable terms, general economic, market or business conditions, changes in technology, 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. Actual events may differ materially from those projected in the forward looking statement. There is no assurance that (i) the Company will be successful in raising the full amount of the offering, or (ii) the Company will be able to finalize any of its developing products based solely on the proceeds of the offering. 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 statements. The Company does not undertake to update any forward-looking statement, 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.
