- Irving Resources (IRVRF, Financial) announces a non-brokered private placement to raise $1.31 million by issuing units at $0.20 each.
- Each unit includes one common share and one purchase warrant, exercisable at $0.40 per share within three years.
- The proceeds will be used for resource exploration and general working capital.
Irving Resources Inc. (IRVRF), a junior exploration company with a focus on gold in Japan, has announced a non-brokered private placement aiming to raise $1.31 million. The Company will issue units priced at $0.20 per unit. Each unit comprises one common share and one transferrable share purchase warrant, allowing the holder to purchase additional shares at $0.40 each within a three-year period.
The net proceeds from this private placement will be allocated towards resource exploration properties in which Irving holds an interest, as well as for general working capital purposes. The company's insiders are anticipated to participate in the offering. Securities issued will be subject to a four-month statutory hold period under Canadian securities laws, although they will not be subject to a hold period under the CSE policies.
This strategic move is expected to bolster Irving's exploration activities and strengthen its financial foundation to better pursue its projects in Japan. For more information, interested parties can contact Irving Resources via their official website or through provided contact details.
