Irving Resources Announces $1.31 Million Private Placement

Irving Resources Inc., based in Vancouver, has announced a non-brokered private placement aimed at raising approximately $1.31 million. The company plans to issue units priced at $0.20, each consisting of one common share and one transferrable share purchase warrant. These warrants will allow holders to purchase an additional share at $0.40 within three years of issuance.

The proceeds from this private placement will be directed towards resource exploration properties and general working capital. All securities issued will have a four-month statutory hold period under Canadian securities laws but will be exempt from a hold period under the CSE policies.

Insiders of the company are expected to participate, with specific exemptions from regulatory requirements. The company aims to wrap up the private placement promptly, with a material change report to be filed shortly.