By Laura Lutz
Des Moines, April 25 - Icon Industries Ltd. plans to conduct a private placement of units for up to C$3 million.
The company intends to sell up to 3,333,333 units of one share and one half-share transferable warrant at C$0.90 per unit. Each whole warrant will be exercisable at C$1.25 for 18 months.
Expiry of the warrants may be accelerated if the closing price of the company's shares is at least C$2.00 for 10 consecutive trading days.
The placement will not be brokered.
Proceeds will be used for working capital and the advancement of the company's claims.
Icon is a mineral exploration and development company based in Vancouver, B.C.
Issuer: | Icon Industries Ltd.
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Issue: | Units of one share and one half-share warrant
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Amount: | C$3 million
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Units: | 3,333,333
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Price: | C$0.90
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Warrants: | One half-share warrant per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$1.25
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Agent: | Non-brokered
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Pricing date: | April 25
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Stock symbol: | TSX Venture: ICN
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Stock price: | C$1.11 at close April 25
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