Iconic Minerals cancels C$1.65 million private placement of units

Company also no longer plans to swap C$825,000 of debt for units

By Devika Patel

Knoxville, Tenn., Dec. 30 - Iconic Minerals Ltd. said it will not proceed with a planned C$1.65 million private placement of units.

The offering priced Oct. 13 and would have sold 15 million units of one common share and one warrant at C$0.11 per unit.

The company also said it no longer plans to settle C$825,000 of debt by issuing units. The debt settlement was announced alongside the placement in October.

Iconic Minerals is a gold and uranium exploration company based in Vancouver, B.C.

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