By Sheri Kasprzak
New York, Oct. 26 - International Frontier Resources Corp. said it intends to conduct a private placement for up to C$4.08 million.
The non-brokered offering includes up to 2.4 million units at C$1.70 each.
The units are comprised of one share and one half-share warrant. The whole warrants allow for the purchase of another share at C$1.85 each for 180 days.
Proceeds from the deal will be used for exploration on the company's Central Mackenzie Valley project.
Based in Calgary, Alta., International Frontier is an oil and natural gas exploration company.
| Issuer: | International Frontier Resources Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$4.08 million (maximum)
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| Units: | 2.4 million (maximum)
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| Price: | C$1.70
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 180 days
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| Warrant strike price: | C$1.85
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| Placement agent: | Non-brokered
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| Pricing date: | Oct. 26
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| Stock price: | C$1.50 at close Oct. 26
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