Minerva Announces Closing of Non-Brokered Private Placement of Common Shares

Vancouver, British Columbia – (September 21, 2021) – Minerva Intelligence, Inc. (TSXV: MVAI) (“Minerva” or the “Company”) is pleased to announce that it has closed its non-brokered private placement of 29,966,332 units of the Company for a total gross proceed of $4,494,949.80. Each unit consists of one common share at $0.15 and one half-warrant (each full warrant exercisable at $0.25 for 24 months).

“With the completion of this financing, we are now well-positioned to execute on ramping up the commercialization of our proprietary Climate Risk and Economic Geology solutions,” said Scott Tillman, CEO of Minerva Intelligence. “We look forward to keeping our investors well-informed of developments in the coming weeks and months as we believe Minerva can truly become a leader in the Climate Risk sector as more and more industries seek a better understanding towards the risks they face.”

Proceeds received from the offering will be used for general working capital purposes, to fund the company’s sales and marketing strategy, and to enhance the Company’s climate risk team.

The company has paid finders’ fees of $205,772 in accordance with the rules and policies of the TSX Venture Exchange (“TSXV”).

About Minerva Intelligence Inc.

Minerva Intelligence Inc. is a software development company based in Vancouver, Canada, with a subsidiary office in Darmstadt, Germany. Our proprietary technology is empowering organizations to make defensable decisions in the face of climate change.

Although Minerva’s applications focus on the search for critical metals and the assessment of physical climate risk, their technology has application in diverse industries and domains.

Minerva’s common shares are currently listed on the TSX Venture Exchange (symbol MVAI).  For further details, please refer to their website or follow Minerva on Twitter or LinkedIn.

For further information:

Dan Vroon, Business Development Manager
+1 (604) 620-1051

Virtus Advisory Group (Investor Relations)
+1 (416) 644-5081

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.

Cautionary Note Regarding Forward-Looking Statements

Forward Looking Information: This news release includes certain information that may be deemed “forward-looking information”. Forward-looking information can generally be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “continue,” “plans,” or similar terminology. All information in this release, other than information of historical facts, including, without limitation, the availability of financing to the Company are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information 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 information. Forward-looking information is based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from the forward-looking information include changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, 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. Mineral exploration and development of mines is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking information. 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 information. The Company does not undertake to update any forward-looking information, 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.