By Devika Patel
Knoxville, Tenn., Dec. 21 - Ireland, Inc. arranged a $4.5 million private placement of units on Dec. 18, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company is selling 10 million units of one common share and a half-share warrant at $0.45 per unit. The whole warrants are each exercisable at $0.75 until June 30, 2013.
If the full amount is sold, the company intends to spend approximately $1.8 million of the proceeds on drilling and exploring its Red Mountain Project, approximately $1.8 million on drilling and exploring its Columbus Project and the remaining balance as general working capital.
Located in Blaine, Wash., Ireland is a mineral exploration company.
Issuer: | Ireland, Inc.
|
Issue: | Units of one common share and a half-share warrant
|
Amount: | $4.5 million
|
Units: | 10 million
|
Price: | $0.45
|
Warrants: | One half-share warrant per unit
|
Warrant expiration: | June 30, 2013
|
Warrant strike price: | $0.75
|
Pricing date: | Dec. 18
|
Stock symbol: | OTCBB: IRLD
|
Stock price: | $0.50 at close Dec. 18
|
Market capitalization: | $57.6 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.