Vancouver, British Columbia, April 16, 2018 – Inomin Mines Inc. (TSX.V: MINE) (“Inomin” or the “Company”) reports it has entered into a Debt Settlement Agreement with Norton Rose Fulbright Canada LLP (“Norton”) to settle $41,295 of payables (“Payables”) owed to Norton for legal services (“Shares for Debt Transaction”). The Company will issue 344,125 common shares at a deemed price of $0.12 per share to Norton to settle the Payables.
The Company decided to settle the Payables with shares in order to preserve its cash for other obligations, as well as to pursue acquisition opportunities. Inomin appreciates Norton’s willingness to settle the Payables in shares of the Company. Information about Norton is available at http://www.nortonrosefulbright.com.
The completion of the Shares for Debt Transaction is subject to the approval of the TSX Venture Exchange. All shares issued will be subject to a four month hold period which will expire on the date that is four months and one day from the date of issue.
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About Inomin Mines
Inomin Mines is engaged in the identification, exploration and development of mineral properties. The Company holds a 100% interest in the King’s Point polymetallic (gold-copper- zinc) project in Newfoundland’s prolific Green Bay mineral region. Inomin trades on the TSX Venture Exchange with the symbol MINE. For further information visit www.inominmines.com.
On behalf of the board of Inomin Mines:
Inomin Mines Inc. Per: “John Gomez” President and CEO
For more information please contact:
Tel. 604.566.8703 [email protected]
Neither 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 may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company’s control that may cause actual results or performance to differ materially from those currently anticipated in such statements.