By Sheri Kasprzak
New York, April 26 - Ireland Inc. plans to conduct two private placements for total proceeds of $13 million.
In a U.S.-directed offering, the company plans to sell 10 million units at $0.65 each.
The units consist of one share and one half-share warrant. The whole warrants are exercisable for another share - after a four-for-one stock split - at $1.00 each for one year.
The expiry of the warrants may be accelerated if the company's stock trades above $2.00 for more than 20 consecutive trading days.
The company also plans to offer 10 million units under the same terms in a foreign offering.
Proceeds will be used for property acquisitions, for development and for general corporate purposes.
In other news, Ireland announced its four-for-one stock split was completed.
Located in Blaine, Wash., Ireland is a mineral exploration company.
| Issuer: | Ireland Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | $13 million
|
| Units: | 20 million
|
| Price: | $0.65
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | $1.00
|
| Pricing date: | April 25
|
| Stock symbol: | OTCBB: IRLD
|
| Stock price: | $1.26 at close April 25
|
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