Adventus Mining Corporation (TSX-V: ADZN) (OTCQX: ADVZF) announces the first closing  of its previously announced brokered private placement (please refer to the July 16, 2019 and July 24, 2019 press releases) with a syndicate of underwriters led by Raymond James Ltd., and including Haywood Securities Inc., BMO Nesbitt Burns Inc., TD Securities Inc., Laurentian Bank Securities Inc., Beacon Securities Limited and Red Cloud Klondike Strike Inc. The First Closing of the private placement closed today and resulted in the issuance of 11,500,000 common shares of the Company at a price of C$1.00 per Share representing total gross proceeds of C$11,500,000. A second and final closing is expected on August 9^th, pursuant to which the Company will issue to Greenstone Resources II L.P. an existing strategic investor of the Company,  2,761,300 Shares at the same Offering Price for gross proceeds of C$2,761,300, resulting in a total of C$14,261,300 being raised under both the First Closing and the Second Closing.

The net proceeds of the Offering will be used by the Company to fund exploration and development activities at the Curipamba project, exploration and development activities within the Ecuador Exploration Alliance, including the Pijili and Santiago projects, and for general administration and corporate purposes.

The Shares issued pursuant to the Offering are subject to a statutory four months and one day hold period expiring December 8, 2019 for Shares issued at the First Closing and December 10, 2019 for Shares to be issued at the Second Closing.

The Underwriters were paid a 6% cash commission on proceeds under the Offering  (being C$612,000), with the exception of the proceeds from Greenstone and Resource Capital Funds VI L.P. which had a cash commission of 1% (being C$40,613). Greenstone and RCF participated in the Offering for an aggregate of C$4,061,300.

About Adventus

Adventus is a well-financed exploration and project development company, focused in Ecuador. Its strategic shareholders include Altius Minerals Corporation, Greenstone Resources LP, Resource Capital Funds, Wheaton Precious Metals Corp and the Nobis Group of Ecuador. The focus of Adventus is the advancement of the Curipamba copper-gold-zinc project in Ecuador as part of an earn-in agreement to obtain a 75% ownership interest. In addition, Adventus is engaged in a country-wide exploration alliance with its partners in Ecuador, incorporating the Pijili and Santiago projects to date.