Irving Resources Completes Non-Brokered Private Placement
VANCOUVER, British Columbia, Nov. 27, 2018 (GLOBE NEWSWIRE) -- Irving Resources Inc. (CSE:IRV) (“Irving” or the “Company”) is pleased to announce the closing of the non-brokered private placement announced on November 20, 2018. The Company raised $2,083,802 by the issuance of 1,894,365 units (the “Units”) at a price of $1.10 per Unit (the “Private Placement”). Each Unit is comprised of one common share of the Company and one-half of a share purchase warrant (the “Warrants”). Each whole Warrant is exercisable for one common share of the Company at a price of $1.75 per share for a period of two years from the date of issue, subject to an accelerated expiry provision.
The Company plans to use the net proceeds of the Private Placement to fund matters related to property exploration in Japan and for general working capital purposes. The securities issued under the Private Placement are subject to a four month hold period.
About Irving Resources Inc.:
Irving is a junior exploration company with a focus on gold in Japan. Irving also holds, through a subsidiary, Project Venture Agreements with Japan Oil, Gas and Metals National Corporation (JOGMEC) for joint regional exploration programs in the United Republic of Tanzania, the Republic of Malawi and the Republic of Madagascar. JOGMEC is a government organization established under the law of Japan, administrated by the Ministry of Economy, Trade and Industry of Japan, and is responsible for stable supply of various resources to Japan through the discovery of sizable economic deposits of base, precious and rare metals.
Additional information can be found on the Company’s website: www.IRVresources.com.
President & Director
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, the statement as to the planned use of the net proceeds of the Private Placement. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the mineral resource industry as well as the performance of services by third parties.
The securities of the Company have not been registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”)) or any U.S. state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, a “U.S. Person” (as such term is defined in Regulation S under the 1933 Act) absent registration under the 1933 Act or an applicable exemption from the registration requirements of the 1933 Act and applicable U.S. state securities laws.