- Irving Resources (IRV) closed its previously announced private placement with Newmont Corporation and concurrent private placement of units
- Newmont invested US$4,400,000 for 4,577,788 common shares at C$1.23 per share
- In addition, gross proceeds of C$2,974,540 were raised by issuing 2,974,540 units at C$1.00 per unit
- Irving will use the proceeds to advance its exploration programs
- Irving is a Canadian-based mineral exploration company with a focus on gold in Japan
- Irving Resources Inc. (IRV) opened trading at C$1.05 per share
Irving Resources (IRV) closed its previously announced private placement with Newmont Corporation and concurrent private placement of units.
Newmont invested US$4,400,000 for 4,577,788 common shares at C$1.23 per share. In addition, gross proceeds of C$2,974,540 were raised through a unit placement consisting of 2,974,540 units at C$1.00 per unit.
Each unit consists of one common share and one-half of a share purchase warrant. Each whole warrant is exercisable for one common share at C$1.60 for three years.
Crescat Portfolio Management, an investment manager in the United States, is the lead strategic investor in the Unit Placement. Irving will use the proceeds to advance its exploration programs.
In connection to this offering, the company paid cash finders fees of C$29,400.
All shares issued will be subject to a statutory hold period expiring on November 13, 2022.
Irving is a Canadian-based mineral exploration company focusing on gold in Japan. The company also holds, through a subsidiary, a Joint Exploration Agreement with Japan Oil, Gas and Metals National Corporation (JOGMEC). JOGMEC is a government organization responsible for the stable supply of various resources to Japan through the discovery of sizable economic deposits of base, precious and rare metals.
Irving Resources Inc. (IRV) opened trading at $1.05 per share.