International Prospect increases financing to $600,000

Executive Summary

• International Prospect Ventures Ltd. increased its non‑brokered private placement to up to 12 million units at $0.05 per unit, targeting gross proceeds of up to $600,000 (up from 7 M units/$350k).
• Each unit comprises one common share and one non‑transferable warrant to purchase an additional share at $0.07 for 36 months after closing.
• Proceeds are earmarked for general corporate purposes; securities will be subject to a four‑month‑plus‑one‑day hold period pending TSX‑V acceptance.

Key Details

• Units Offered: Up to 12,000,000 units (previously 7,000,000).
• Unit Price: $0.05 per unit.
• Gross Proceeds Target: Up to $600,000 (increase from previously announced $350,000).
• Composition of Each Unit:
• 1 common share of International Prospect Ventures Ltd.
• 1 non‑transferable share purchase warrant – right to acquire one additional common share at $0.07 per share.
• Warrant Terms: exercisable for 36 months from the closing date.
• Holding Period: All securities subject to a four‑month and one‑day hold period under applicable securities legislation and TSX‑V policies.
• Use of Proceeds: General corporate purposes (e.g., exploration activities, working capital).
• Regulatory Condition: Offering remains subject to acceptance by the TSX Venture Exchange.

Notable Quotes

(No direct quotes were provided in the release.)