Irving Resources Announces Closing of Final Tranche of Non-Brokered Private Placement

Executive Summary

• Irving Resources Inc. closed the final tranche (“Tranche 2”) of its non‑brokered private placement, raising $1.775 million in gross proceeds.
• Total capital raised under the entire private placement now equals $3.925 million from 15.7 million Units issued at $0.25 per Unit.
• Each Unit includes one common share and a half‑share purchase warrant (full warrant allows purchase of one share at $0.35 for three years); finder’s fees of $51,600 were paid and Finder’s Units were issued.

Key Details

• Tranche 2 proceeds: $1,775,000 gross cash received.
• Units issued in Tranche 2: 7,100,000 Units at $0.25 per Unit.
• Total private placement proceeds: $3,925,000 from 15,700,000 Units.
• Unit composition: 1 common share + ½ transferable Share purchase warrant (full warrant = right to buy one share at $0.35 for three years).
• Finder’s compensation: $51,600 paid in cash; 86,400 Finder’s Units issued (each = 1 share + ½ non‑transferable warrant).
• Hold period: All securities from Tranche 2 subject to a hold period expiring June 25 2026.
• Warrant terms: Both regular and finder warrants allow purchase of one share at $0.35 per share, exercisable for three years from issuance.

Notable Quotes

(No executive quotes were included in the release.)