Dec 23, 2004
International Frontier Resources Corporation (IFR - TSX-V) today announced the Company has closed a 410,000 unit flow through share non brokered private placement at $1.40 per unit. A unit consists of one flow through share and one half warrant, one whole warrant entitles the holder to purchase one non-flow through share at a price of $1.75 per share on or before June 30th, 2005. Pursuant to TSX-V Exchange policy the shares are restricted from trading for a four month period.
The Company also reported the issuance of 800,000 stock options to Director's and consultants. The options are exercisable at $1.60 per share for a term of five (5) years. The option grant is subject to approval of the TSX Venture Exchange and any options converted to common shares before April 23, 2005 will be subject to a hold period.
For additional information visit www.internationalfrontier.com or contact;
President & CEO
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.
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