New York, Nov. 21 - International Gold Resources, Inc. announced Wednesday it finalized two private placements for a total of $3.35 million.
The company sold 1,083,333 units at $0.60 each in the first offering for a total of $650,000. The units are made up of a share and a warrant to purchase a further share at an exercise price of $1.50.
The company also sold $2.7 million in a second offering of warrants to buy an additional 4.5 million units, with each unit consisting of a warrant to purchase one share at $0.60 and a warrant to buy one share at $1.50. Both warrants expire a year from the date the company files an amended and restated charter with the Delaware Secretary of State.
Proceeds will be used for continuation and advancement of the company's gold and manganese projects in Brazil and the Yukon as well as for general corporate purposes.
Denver-based International Gold is an early stage gold exploration company.
| Issuer: | International Gold Resources, Inc.
|
| Issue: | Stock and convertible warrants
|
| Amount: | $3.5 million
|
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| Units offering
|
| Issue: | Units of stock and warrants
|
| Amount: | $650,000
|
| Units: | 1,083,333
|
| Price: | $0.60
|
| Warrants: | For one share per unit
|
| Warrant strike price: | $1.50
|
| Warrant expiration: | 1 year
|
| Stock symbol: | Pink sheets: IGRU
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| Stock price: | $0.91 at close Nov. 20
|
|
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| Warrant offering
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| Issue: | Warrants for units
|
| Amount: | $2.7 million
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| Warrants: | For 4.5 million units of two further warrants
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| Warrant strike price: | One warrant at $0.60, on warrant at $1.50
|
| Warrant expiration: | 1 year from the date the company files an amended and restated charter with the Delaware Secretary of State
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