Jul 19, 2004
Private Placement Closed
International Frontier Resources Corporation ("IFR" TSX- V) reported today that the second and final tranche of a $4,800,000 non brokered private placement announced on May 17th, 2004 has closed. The Company issued 3,830,000 units at $0.80 per unit for proceeds of $3,064,000. A unit consists of one common share, one series "A" warrant and one series "B" warrant. Two series "A" warrants entitle the holder to acquire one common share at $1.15 per share for a period of 180 days. Two series "B" warrants entitle the holder to acquire one common share at $1.50 for a period of 365 days. Series "B" warrants can only be exercised if the holder has exercised the series "A" warrant. A commission in the form of 306,500 common shares was paid to registered broker dealers. The shares are restricted from trading until November 9th, 2004.
For additional information visit the Company's web site www.internationalfrontier.com or contact:
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release. This news release is not intended for distribution to US news wire services or for dissemination in the United States and does not constitute an offer of the securities described herein.
You can return to the main News Releases page, or press the Back button on your browser.