Nov 20, 2003
Private Placement Closed
The Company announced today that it has closed a private placement of 2,000,000 units at a price of $0.30 per unit. Each unit consists of one common share and one non transferable warrant. One warrant entitles the holder to acquire one common share at a price of $0.35 for a period of one year from closing. The shares issued under the private placement are restricted from trading until March 18, 2004.
The Company also reported today that it did not enter into an Investor Relations Agreement with Corporate Concepts Ltd. as set out in the Company's new release dated October 8, 2003.
Subject to TSX Venture Exchange approval the Company reserved for future issuance 440,000 stock options exercisable for a 5-year period at $0.45 per share.
International Frontier is a junior oil and gas company listed on the TSX Venture Exchange trading under the symbol "IFR". For additional information contact Pat Boswell (403-215-2780) or Mark Powell (403-215-2783) or visit www.frontier-resources.com
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 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.
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