Iconic Minerals Ltd. (TSX V: ICM / FSE: YQGB / OTC: BVTEF) announces that on December 22, 2016 it received conditional acceptance from the TSX Venture Exchange to close the first tranche of its private placement (refer to ICM News Release dated December 21, 2016).
In accordance with the provisions of Subscription Agreements, on December 22, 2016 the Company issued a total of 1,181,818 Units at a price of $0.11 per Unit, each Unit being comprised of one common share and one-half share purchase warrant, each whole warrant being exercisable into one common share on or before December 21, 2017 at $0.20 per share.
A total of $6,600 cash and a non-transferable Broker’s Warrant to purchase up to 60,000 shares of the Company at $0.20 per share on or before December 21, 2017 was paid / issued as a finder’s fee to Raymond James Ltd. in connection with this first tranche closing.
These shares, together with any shares that may be issued on exercise of the warrants and Broker’s Warrant will be subject to a hold period under applicable Canadian securities laws expiring on April 23, 2017, and will be subject to such further restrictions on resale as may apply under applicable foreign securities laws.
The Company anticipates closing the balance of this financing shortly.
On behalf of the Board of Directors
SIGNED: “Richard Barnett”
Richard Barnett, CFO
Contact: (604) 336-8614
For further information on ICM, please visit our website at www.iconicmineralsltd.com The Company’s public documents may be accessed at www.sedar.com
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.
This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.