By Devika Patel
Knoxville, Tenn., July 25 - Ireland Inc. has entered into a private placement agreement to raise $2,047,500, according to a Form 8-K the company filed with the Securities and Exchange Commission Friday.
Ireland issued 3.15 million units at $0.65 per unit. Each unit consisted of one share and one-half share warrant. Each whole warrant is exercisable at $1.00 for one year.
Also Friday, the company issued a further 3.962 million units. These shares represent the second tranche of the private placements announced on April 25. As previously reported, Ireland priced the units for two private placements totaling $13 million.
Ireland paid a commission of $161,752.50 to S&P Investors Inc. in connection with that sale of 3.555 million units. In addition, the company will issue agent's warrants to S&P.
Ireland is a mineral exploration company based in Blaine, Wash.
Issuer Ireland Inc.
| Issue: | Units of one share and one half share warrant
|
| Amount: | $2,047,500
|
| Units: | 3.15 million
|
| Price: | $0.65
|
| Warrants: | One half-share per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | $1.00
|
| Agent: | S & P Investors, Inc.
|
| Pricing date: | July 20
|
| Stock symbol: | OTCBB: IRLD
|
| Stock price: | $1.80 at close July 25
|
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