Invenio Announces Private Placement Proceeds for drilling
Saskatchewan Oil Properties
TSX Venture Exchange: IVO
VANCOUVER,
Nov. 27, 2012 /CNW/ - Invenio
Resources Corp. ("Invenio" or the "Company") announces that,
subject to TSX Venture Exchange approval, it intends to undertake a
non-brokered private placement of 19.0 million Flow Through units
("FT Unit") at $0.08 per FT Unit and
6.5 million units ("Units) at $0.065
per Unit for gross proceeds of $1.94
million. Each FT Unit consists of one common share and one
half share purchase warrant with a full warrant entitling the
holder to purchase one common share for a period of one year from
closing at a price of $0.10 per
share. Each Unit consists of one common share and one share
purchase warrant and each warrant entitles the holder to purchase
one common share for a period of two years from the closing of the
offering at a price of $0.085 per
share in the first year and $0.11 per
share in the second year.
Net proceeds from the offering will be used for
drilling two oil wells in Southeast
Saskatchewan as more fully described in the Company's news
release on October 24, 2012 and for
general working capital. Finder's fees may be paid in connection
with this private placement.
About Invenio Resources Corp.
Invenio Resources Corp. is a Canadian based exploration company
focused on gold exploration. The Company's common shares are listed
on the TSX Venture Exchange and trade under the symbol IVO. Invenio
has an option to earn a 60% interest on the Green Springs gold
project, Nevada. The Green
Springs deposit, a past producer, is near surface, oxidized and
interpreted to be Carlin style
mineralization. On October 24,
Invenio announced that it had entered into a non-binding Letter of
Intent ("LOI") with a private oil company ("PrivateCo") setting out
the basic terms of the parties' intention to enter into Farmout
agreements whereby Invenio will participate in drilling two
exploration wells in southeast Saskatchewan. Invenio will be required
to contribute 50% of the drilling costs or $1.5 million and after payout Invenio will retain
a 25% working interest in the two wells.
ON BEHALF OF THE BOARD OF DIRECTORS OF INVENIO RESOURCES CORP.
"Ken Booth"
Ken Booth,
President
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 forward-looking
statements. Forward-looking statements address future events
and conditions and therefore involve inherent risks and
uncertainties. Actual results may differ materially from
those currently anticipated in such statements.
SOURCE Invenio Resources Corp.