2018

INSPIRATION ENTERS INTO LETTER OF INTENT TO ACQUIRE SILK ENERGY AS (07-Aug-2018)

Toronto, Ontario - Inspiration Mining Corporation (“Inspiration” or the “Corporation”) is pleased to announce that it has entered into a non-binding letter of intent, dated July 31, 2018, (the “LOI”) with Silk Energy AS (“Silk”), an arm’s length party incorporated pursuant to the laws of Norway. Pursuant to the terms of the LOI, Inspiration will acquire all of the issued and outstanding securities of Silk (the “Proposed Acquisition”) for an aggregate purchase price of $25 million (the “Purchase Price”). The Purchase Price will be satisfied through the issuance of an aggregate 125 million common shares (the “Consideration Shares”) in the capital of Inspiration at a deemed price of $0.20 per Consideration Share.

The closing of the Proposed Acquisition is subject to, among things, the successful completion of the Corporation’s due diligence review of Silk and the execution of a definitive share exchange agreement between the Corporation and the shareholders of Silk. The entering into of the definitive agreement will be considered a fundamental change under Policy 8 of the Canadian Securities Exchange (“CSE”) and, as such, will subject to all of the requirements of Policy 8 including, but not limited to, CSE and shareholder approval.

About Silk Energy AS

Silk Energy AS is a private Norwegian company, established specifically to secure undervalued and distressed oil assets in Kazakhstan. It recently purchased 50% of the Ustyurt license comprising 6,451 sq km in the Caspian Sea region for a consideration of $25 million. Ustyurt is less than 100 kms from the super giant Tengiz and Kashagan fields with a combined 22 billion barrels of recoverable reserves and it's in the fairway of other giant fields.

In excess of $80 million has been spent by the previous owners and the state oil company on the acquisition and interpretation of a comprehensive set of 2D seismic. Despite all of the data, only one well has been drilled in the whole contract territory in the last 40 years. It is incredibly under-explored and management has multiple targets to exploit.

The Corporation would also like to announce that intends to raise gross proceeds of $1 million through a nonbrokered private placement of convertible debentures (the “Debentures”). The Debentures are convertible, at the option of the holder thereof, into common shares in the capital of the Corporation (the “Debenture Shares”) at a price of $0.05 per Debenture Share at any time prior to the date that is 24 months from date of issuance (the “Maturity Date”), subject to the automatic conversion provisions contained therein.

Interest shall accrue on the outstanding principal balance at the rate of 6% per annum commencing on the Closing Date and shall be payable on a semi-annually basis.

The Debentures shall automatically convert into Debenture Shares on the earlier of (i) the Maturity Date, (ii) the closing of the proposed acquisition of Silk or (iii) if the closing price of the outstanding common shares on any stock exchange on which such shares are listed and posted for trading is equal or greater than $0.20 for a period of twenty (20) non-consecutive trading days.

The non-brokered private placement is subject to all necessary regulatory approvals. The Debentures and, if applicable, the underlying Debenture Shares, will be subject to a four month hold period in accordance with applicable Canadian securities laws.

The Corporation also announces that with this Proposed Acquisition, the Corporation has terminated all negotiations and discussions with Compassion Cannabis Corp.

For further information, please contact Randy Miller, Chief Executive Officer of the Corporation, at 416.842.9000, www.inspirationmining.com

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

This press release contains forward-looking statements based on assumptions, uncertainties and management’s best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation’s periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forwardlooking statements, whether as a result of new information, future events or otherwise.

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INSPIRATION UPDATES PROPOSED ACQUISITION OF COMPASSION CANNABIS (24-April-2018)

Toronto, Ontario - Inspiration Mining Corporation (the “Corporation”) is pleased to announce that its ongoing negotiations with Compassion Cannabis Corp (“Compassion”) and the related due diligence is going very well and ahead of the targeted date. The Corporation has commenced discussions pertaining to the terms and conditions of a proposed share exchange agreement and the resulting structure of the Corporation’s board of directors.

Compassion is a private Ontario company which has expertise to forward various facets of the explosive new market of the marijuana industry, including but not limited to the “Vape” market and dispensary centers for the industry. The Corporation believes that this is an extremely lucrative space with tremendous demand in the medical cannabis industry.

The cannabis market is growing exponentially every day with new and exciting innovations in the industry. Compassion has narrowed down its possible research and development locations to Portugal, U.K., or Switzerland. The upcoming legalization of cannabis in Canada has almost become a reality, and is expected to do so in the upcoming months. 

Compassion is contemplating applying for a multi-jurisdictional license to give the company the opportunity to exploit its future endeavours. The Corporation is quite confident that with the expertise it has around it, that it will be successful in its application.

For further information, please contact Randy Miller, Chief Executive Officer of the Corporation, at 416.842.9000, www.inspirationmining.com

 

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking statements based on assumptions, uncertainties and management’s best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation’s periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Inspiration Updates Proposed Acquisition of Compassion Cannabis (24-April-2018)

TORONTO, April 24, 2018 -- Inspiration Mining Corporation (CSE:ISM) (the “Corporation”) is pleased to announce that its ongoing negotiations with Compassion Cannabis Corp (“Compassion”) and the related due diligence is going very well and ahead of the targeted date. The Corporation has commenced discussions pertaining to the terms and conditions of a proposed share exchange agreement and the resulting structure of the Corporation’s board of directors.

Compassion is a private Ontario company which has expertise to forward various facets of the explosive new market of the marijuana industry, including but not limited to the “Vape” market and dispensary centers for the industry. The Corporation believes that this is an extremely lucrative space with tremendous demand in the medical cannabis industry.

The cannabis market is growing exponentially every day with new and exciting innovations in the industry. Compassion has narrowed down its possible research and development locations to Portugal, U.K., or Switzerland. The upcoming legalization of cannabis in Canada has almost become a reality, and is expected to do so in the upcoming months.

Compassion is contemplating applying for a multi-jurisdictional license to give the company the opportunity to exploit its future endeavours. The Corporation is quite confident that with the expertise it has around it, that it will be successful in its application.

For further information, please contact Randy Miller, Chief Executive Officer of the Corporation, at 416.842.9000, www.inspirationmining.com

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

This press release contains forward-looking statements based on assumptions, uncertainties and management’s best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation’s periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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INSPIRATION TO SEEK SHAREHOLDER APPROVAL FOR FORWARD SPLIT OF ITS COMMON SHARES (20-Feb-2018)

Toronto, Ontario – Inspiration Mining Corporation (“Inspiration” or the “Corporation”) would like to announce that, further to its press release dated January 18, 2018, it will be seeking shareholder approval for a special resolution authorizing the directors to effect a forward split of the Corporation’s common shares on a one (1) for two (2) basis.

As stated in the Corporation’s press release of January 18, 2018, Inspiration has scheduled its annual and special meeting of shareholders for May 3, 2018.

For further information, please contact Randy Miller, Chief Executive Officer of the Corporation, at tel: 416-842-9000, www.inspirationmining.com

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking statements based on assumptions, uncertainties and management’s best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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INSPIRATION PROVIDES UPDATE (23-Feb-2018)

Toronto, Ontario – Inspiration Mining Corporation - Pursuant to its previous news release Feb 14, 2018 Inspiration Mining Corp. is pleased to announce that the ongoing due diligence and negotiations with Compassion Cannabis is ahead of schedule and on track. Both parties are looking forward to positive conclusion.

For further information, please contact Randy Miller, Chief Executive Officer of the Corporation, at tel: 416-842-9000, www.inspirationmining.com

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking statements based on assumptions, uncertainties and management’s best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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INSPIRATION INCREASES PRIVATE PLACEMENT (30-Jan-2018)

Toronto, Ontario - Inspiration Mining Corporation (the “Corporation”) is pleased to announce that, subject to regulatory approval, it has amended the terms of its non-brokered private placement previously announced in its press release dated January 10, 2018. The Corporation has increased the number of Units from 7,000,000 to 8,500,000 Units a price of $0.10 per Unit for gross proceeds of up to $850,000. 

Each Unit is comprised of one (1) common share and one (1) common share purchase warrant (the “Warrant”). Each Warrant entitles the holder thereof to purchase one (1) common share for a period of two (2) years from the date of issuance. The Warrants are exercisable at a price of $0.15 per common share. There may be a finder’s fee paid in connection with the proposed private placement. The proceeds will be used for general working capital. 

For further information, please contact Randy Miller, Chief Executive Officer of the Corporation, at 416.842.9000, www.inspirationmining.com

 

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 

This press release contains forward-looking statements based on assumptions, uncertainties and management’s best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation’s periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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INSPIRATION SCHEDULES SHAREHOLDERS MEETING (18-Jan-2018)

Toronto, Ontario – Inspiration Mining Corporation (“Inspiration” or the “Corporation”) is pleased to announce that it has scheduled a shareholders’ meeting for May 3, 2018 (the “Meeting”). At the Meeting the shareholders of Inspiration will consider, among other things, the appointment of directors, a special resolution changing the name of the Corporation from its current form to “Inspiration Cannabis Corporation” and a special resolution authorizing Inspiration to change its business from an exploration company to a cannabis distribution company. The proposed name change and change of business is subject to the receipt of regulatory approval. 

The Corporation’s intention to change its name and its business is based primarily on its negotiations with Compassion Cannabis whereby the Corporation and Compassion Cannabis intend to enter into some form of a business relationship which will initiate Compassion Cannabis’ exposure to the Canadian public markets. 

Compassion Cannabis, a private Ontario company, has the expertise to capitalize on the various facets of the going marijuana market, including the “Vape” market and dispensary centers for the industry. The Corporation is of the opinion that the “Vape” market and dispensary centers represents an opportunity to capitalize on the growing medical cannabis industry. 

Inspiration will provide shareholders with updates on the status of its discussions with compassion Cannabis and there can be no assurance that the corporation will enter into any agreement with Compassion Cannabis.

 

For further information, please contact Randy Miller, Chief Executive Officer of the Corporation, at tel: 416-842-9000, www.inspirationmining.com

 The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking statements based on assumptions, uncertainties and management’s best estimates of future events.  Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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INSPIRATION ENTERS INTO NEGOTIATIONS TO ACQUIRE COMPASSION CANNABIS (11-Jan-2018)

Toronto, Ontario – Inspiration Mining Corporation (“Inspiration” or the “Corporation”) is pleased to announce that it has commenced formal negotiations with Compassion Cannabis whereby the Corporation and Compassion Cannabis will enter into some form of a business relationship which will initiate Compassion Cannabis’ exposure to the Canadian public markets. One of the options being discussed is the acquisition of all of the issued and outstanding securities of Compassion Cannabis which would result in it becoming a wholly owned subsidiary of the Corporation.

 Compassion Cannabis, a private Ontario company, has the expertise to capitalize on the various facets of the going marijuana market, including the “Vape” market and dispensary centers for the industry. The Corporation is of the opinion that the “Vape” market and dispensary centers represent an opportunity to capitalize on the growing medical cannabis industry.

 Inspiration will provide shareholders with updates on the status of its discussions with compassion Cannabis and there can be no assurance that the corporation will enter into any agreement with Compassion Cannabis.

 For further information, please contact Randy Miller, Chief Executive Officer of the Corporation, at tel: 416-842-9000

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INSPIRATION ANNOUNCES PRIVATE PLACEMENT (10-Jan-2018)

Toronto, Ontario – Inspiration Mining Corporation (“Inspiration” or the “Corporation”) is pleased to announce that it intends to raise gross proceeds of up to $700,000 through a non-brokered private placement of up to 7 million units (the “Units”) of the Corporation at a price of $0.10 per Unit. Each Unit will consist of one (1) common share and one (1) common share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase one (1) common share for a period of two (2) years from date of issuance at an exercise price of $0.15 per Warrant.

The non-brokered private placement is subject to all necessary regulatory approvals. The securities being issued in the private placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws. The Corporation intends to use the net proceeds for general working capital.

For further information, please contact Randy Miller, Chief Executive Officer of the Corporation, at tel: 416-842-9000

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