By Sheri Kasprzak
New York, Oct. 19 - Ivana Ventures Inc. said it plans to conduct a private placement for up to C$12 million.
The company intends to sell up to 15 million units at C$0.80 each on a non-brokered basis.
The units include one share and one half-share warrant. The whole warrants allow for the purchase of another share at C$1.00 each for the first year and C$1.20 each for the second year.
The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$2.00 for more than 20 consecutive trading days.
Proceeds will be used for property expenses, property investigation and acquisition, as well as working capital.
Based in Vancouver, B.C., Ivana is a gold and copper exploration company.
| Issuer: | Ivana Ventures Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$12 million (maximum)
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| Units: | 15 million (maximum)
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| Price: | C$0.80
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$1.00 for the first year and C$1.20 for the second year
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| Placement agent: | Non-brokered
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| Pricing date: | Oct. 18
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| Stock price: | C$1.50 at close Oct. 18
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