By Sheri Kasprzak
Atlanta, May 31 - Ivana Ventures Inc. said it plans to raise C$1.5 million in a private placement of units.
The non-brokered offering includes 12.5 million units at C$0.12 each.
The units are comprised of one share and one warrant. The warrants allow for an additional share at C$0.16 each for two years.
Two insiders of the company subscribed for 625,000 units.
Based in Calgary, Alta., Ivana Ventures, which had previously been known as Kinvara Ventures Inc., is a gold exploration company.
| Issuer: | Ivana Ventures Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1.5 million
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| Units: | 12.5 million
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| Price: | C$0.12
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.16
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| Pricing date: | May 30
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| Stock price: | C$0.19 at close May 30
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