Irving Resources Reports Non-Brokered Private Placement

Executive Summary

• Irving Resources Inc. announced a non‑brokered private placement to raise approximately $2,000,000 in gross proceeds.
• Units will be sold at $0.25 per Unit, each comprising one common share and half of a transferable share purchase warrant exercisable at $0.35 for three years.
• Net proceeds are earmarked for resource exploration properties where Irving holds interests and for general working capital.

Key Details

• Offering Size: ~ $2,000,000 gross proceeds.
• Unit Price: $0.25 per Unit.
• Unit Composition: 1 common share + ½ transferable share purchase warrant.
• Warrant Terms: Right to purchase one share at $0.35 per share for three years from issuance date.
• Hold Period: Securities subject to a four‑month hold period post‑issuance.
• Use of Proceeds: Funding exploration properties and general working capital.
• Insider Participation: Anticipated; exempt from certain minority shareholder approval requirements under MI 61‑101.
• Material Change Report: Expected to be filed less than 21 days before closing, deemed reasonable by the Company.
• Finder’s Fees: May be payable on some subscriptions.

Notable Quotes

(No direct quotes were provided in the release.)