Financings
International Prospect arranges $350,000 financing
IZZ · Price
Executive Summary
- International Prospect Ventures Ltd. announced a non‑brokered private placement to raise up to $350,000.
- Up to 7 million units will be sold at $0.05 per unit, each unit consisting of one common share and one non‑transferable warrant (exercise price $0.07, 36‑month term).
- Proceeds are earmarked for general corporate purposes; securities will be subject to a four‑month‑plus hold period and TSX‑V acceptance.
Key Details
- Offering Size: Up to 7,000,000 units at $0.05 per unit → maximum gross proceeds of $350,000.
- Unit Composition: 1 common share + 1 non‑transferable warrant (right to purchase one additional common share at $0.07).
- Warrant Terms: Exercise price $0.07 per share; exercisable for 36 months from closing date.
- Regulatory Conditions: Offering subject to acceptance by the TSX Venture Exchange.
- Hold Period: All securities issued will be locked‑up for four months and one day after closing, per applicable securities legislation and TSX‑V policies.
- Use of Proceeds: Funds will be used for general corporate purposes, including ongoing exploration activities in Western Australia and Ontario.
Notable Quotes
(No direct quotes were provided in the release.)