New Issue: Idaho General Mines raises $2.25 million in private placement of units

By Sheri Kasprzak

Atlanta, April 27 - Idaho General Mines Inc. said it has closed a private placement for $2,249,199.

The company sold 2,998,933 units at $0.75 each to 53 accredited investors.

The units are comprised of one share and one warrant. The warrants are exercisable for an additional share at $1.00 each for two years.

Based in Spokane, Wash., Idaho General is a gold and silver exploration and development company.

Issuer:	Idaho General Mines Inc.
Issue:	Units of one share and one warrant
Amount:	$2,249,199
Units:	2,998,933
Price:	$0.75
Warrants:	One warrant per unit
Warrant expiration:	Two years
Warrant strike price:	$1.00
Settlement date:	April 27
Stock price:	$1.10 at close April 27

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