Ivernia Inc.
TSX : IVW

Ivernia Inc.

July 12, 2007 07:58 ET

Ivernia Inc.: New Issue

TORONTO, ONTARIO--(Marketwire - July 12, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Ivernia Inc. ("Ivernia") (TSX:IVW) has today entered into an agreement to sell to a syndicate of underwriters led by BMO Capital Markets, on a bought deal basis, 12,125,000 common shares (the "Common Shares") from the Company and sell to the public at a price of C$1.65 per Common Share, representing an aggregate amount of C$20,006,250. Ivernia has granted the Underwriters an over-allotment option to purchase additional Common Shares up to 15% of the purchased Common Shares at the same price, exercisable by the Underwriters for a period of 30 days from Closing. Closing is expected on or about August 1, 2007.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

Contact Information

  • Ivernia Inc.
    Sharon Loung
    Director, Investor Relations
    (416) 365-2783
    (416) 867-9384 (FAX)
    Email: investor@ivernia.ca