VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/04/16 -- Irving Resources Inc. (CSE: IRV) ("Irving" or the "Company") is pleased to announce that it has closed a non-brokered private placement to raise $455,700 by the issuance of 3,255,000 units (the "Units") at a price of $0.14 per Unit (the "Private Placement") as described in its February 1 news release. Each Unit is comprised of one common share of the Company and one share purchase warrant (the "Warrants"). Each Warrant is exercisable for one common share of the Company at a price of $0.20 per share for a period of two years from the date of issue. The applicable hold period expires on June 4, 2016.
The Company plans to use the net proceeds of the Private Placement to fund exploration and other mineral property related activities on the Mpwapwa Joint Venture property in Tanzania and for general working capital purposes.
About Irving Resources Inc.:
Irving is a spin-out company originating from the recent acquisition of Gold Canyon Resources by First Mining Finance and starts its existence with a solid working alliance with Japan Oil, Gas and Metals National Corporation (JOGMEC) that gives Irving significant, low-cost exposure to mineral projects in Africa.
Irving, through a subsidiary, holds a Project Venture Agreement with JOGMEC for joint regional exploration programs in the United Republic of Tanzania and the Republic of Malawi.
Additional information can be found on Irving's website: www.IRVresources.com.
Akiko Levinson,
President & Director
Forward-looking information
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, the statement as to the intended use of the net proceeds from the Private Placement. Such forward-looking information is subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation, the customary risks of the mineral resource exploration industry.
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
Contacts:
Irving Resources Inc.
Tel: (604) 682-3234
Toll free: 1 (888) 242-3234
Fax: (604) 682-0537
info@IRVresources.com
www.IRVresources.com
