Irving increases private placement to $4-million

Executive Summary

• Irving Resources Inc. has upsized its non-brokered private placement from $2 million to $4 million.
• The company is issuing units at a price of 25 cents per unit, with each unit comprising one common share and one-half of one transferable share purchase warrant.
• Gross proceeds are intended for resource exploration properties in which Irving holds an interest and for general working capital.

Key Details

• Transaction Type: Upsized non-brokered private placement.
• Gross Proceeds: Increased from $2 million to $4 million.
• Price Per Unit: 25 cents.
• Unit Composition: Each unit consists of one common share and one-half of one transferable share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one share at an exercise price of 35 cents per share.
• Warrant Duration: Three years from the date of issuance.
• Use of Proceeds: Resource exploration properties in which Irving holds an interest and general working capital.
• Hold Period: All securities issued are subject to a four-month hold period.
• Closing Structure: The private placement may close in tranches.
• Fees: Finders' fees may be payable in connection with some subscriptions.

Notable Quotes

• None provided in the text.