Irving Resources closes private placement with strategic investor

   Irving Resources {CSE: IRV}

Reported that the private placement with Newmont Corporation announced in the Company’s news release of February 13, 2020 has closed. .

Gross proceeds of CDN$5,266,800 were raised through the issuance of 1,400,744 common shares of Irving.

 

 

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VANCOUVER, British Columbia, Feb. 20, 2020 – Irving Resources Inc. (CSE:IRV) reports that the private placement with Newmont Corporation (“Newmont”) announced in the Company’s news release of February 13, 2020 has closed.

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Gross proceeds of US$4,000,000 (approximately CDN$5,266,800) were raised through the issuance of 1,400,744 common shares of Irving.  The shares issued in this private placement are subject to a hold period in Canada expiring on June 20, 2020.

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The funds from this private placement have been allocated as to US$3,600,000 towards exploration on the Company’s Omu project in Hokkaido, Japan and US$400,000 towards the alliance formed between Irving and an affiliate of Newmont to identify and, if designated by Newmont’s affiliate, jointly exploit mineral exploration opportunities throughout Japan.

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About Irving Resources Inc.:

Irving is a junior exploration company with a focus on gold in Japan. Irving also holds, through a subsidiary, a Project Venture Agreement with JOGMEC for joint regional exploration programs in Republic of Malawi. 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.

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Additional information can be found on the Company’s website:

  www.IRVresources.com

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