Iconic Announces Equity Financing up to $250,000
ICONIC MINERALS LTD.
Suite 303, 595 Howe Street Vancouver, B.C. V6C 2T5 Phone: (604) 336-8614 Fax: (604) 718-2808 www.iconicmineralsltd.com
NEWS RELEASE
NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Iconic Announces Equity Financing up to $250,000
(August 24, 2015) – Iconic Minerals Ltd. (TSX-V: ICM / FSE: YQG) announces that it is negotiating, subject to acceptance by the TSX Venture Exchange (“TSX-V”), a private placement for gross proceeds of up to $250,000 (the “Financing”). Upon receipt of acceptance from the TSX-V to the Financing, the Company will issue up to 5,000,000 common shares (the “Shares”) at a price of $0.05 per Share.
Proceeds raised from the Financing will be used towards exploration and development of the Company’s Hercules Project in Lyon County, Nevada, and for general working capital purposes.
One (1) Insider, together with the spouse of an Insider (the “Related Parties”), will directly and/or indirectly acquire an aggregate of 800,000 Shares from the Financing, which will increase those Related Parties’ pro rata shareholdings in the Company (the “Related Party Transaction”). All of the independent directors of the Company, acting in good faith, have determined that the fair market value of the securities being issued and the consideration paid is reasonable and, with the value of the Related Party Transaction being less than 25% of the Company’s market capitalization, is exempt from the formal valuation and minority shareholder approval requirements of Multilateral Instrument 61-101.
The Company may pay finders’ fees in connection with the Financing in accordance with the rules and policies of the TSX-V.
On behalf of the Board of Directors
SIGNED: “Richard Barnett”
Richard Barnett, CFO and Secretary
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.