Irving Resources Inc.
CSE : IRV

November 02, 2016 19:07 ET

Irving Resources Announces Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 2, 2016) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Irving Resources Inc. (CSE:IRV) ("Irving" or the "Company") announces that it intends to conduct a non-brokered private placement to raise approximately $5,200,000 by the issuance of approximately 13,000,000 units (the "Units") at a price of $0.40 per Unit (the "Private Placement"). Each Unit will be comprised of one common share of the Company and one-half of a share purchase warrant (the "Warrants"). Each whole Warrant will be exercisable for one common share of the Company at a price of $0.55 per share for a period of three years from the date of issue.

The Company plans to use the net proceeds of the Private Placement to fund potential acquisitions of mineral properties in Japan and for general working capital purposes.

About Irving Resources Inc.:

Irving is a junior exploration company searching for opportunities in certain countries, including Japan. Irving also holds, through a subsidiary, three Project Venture Agreements with JOGMEC for joint regional exploration programs in the United Republic of Tanzania, the Republic of Malawi and the Republic of Madagascar. JOGMEC is a government organization established under the law of Japan, administrated by the Ministry of Economy, Trade and Industry of Japan, and is responsible for stable supply of various resources to Japan through the discovery of sizable economic deposits of base, precious and rare metals.

Additional information can be found on the Company's website: www.IRVresources.com.

Akiko Levinson, President & Director

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Contact Information

  • Irving Resources Inc.
    (604) 682-3234 or Toll free: 1 (888) 242-3234
    (604) 682-0537 (FAX)
    info@IRVresources.com