The Company anticipates that its common shares will begin trading on the TSX Venture Exchange on December 31, 2009 under the trading symbol “IXI”.
The Company also announces that it proposes to complete a flow-through financing of up to $250,000 by way of a non-brokered private placement of units at a price of $0.25 per unit. Each Unit will consist of one Flow-Through Share and one-half (1/2) of one non-flow-through common share purchase warrant of the Issuer. Each whole warrant will entitle the holder thereof to purchase one “non-flow-through” share in the capital stock of the Company at an exercise price of $0.35 per warrant share, subject to adjustment in certain events, at any time on or before 5:00 p.m. (Vancouver time) on the date that is 12 months from the date of issuance of the warrant. Finders’ fees and/or commissions may be paid in accordance with TSX Venture Exchange policies.
Proceeds from the private placement will be used in connection with the Company’s exploration program on the Fredy Creek Project.
The Company is a junior mining resource exploration company focused on acquiring mineral properties and exploring for and developing economically viable mineral resources. The Company’s mineral property is located in British Columbia. For more information, please refer to the Company’s prospectus dated November 20, 2009 available on SEDAR (www.sedar.com).
For further information, please contact:
Tim Henneberry: (604) 681-3422
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements. All statements, other than statements of historical fact, constitute “forward-looking statements” and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company’s strategy, plans or future financial or operating performance and other statements that express management’s expectations or estimates of future performance. Forward-looking statements are generally identifiable by the use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. These statements, however, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed, implied by or projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include but are not limited to: risks related to the exploration and potential development of the Company’s projects, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, as well as those factors discussed in the sections relating to risk factors of the Company prospectus dated November 20, 2009 filed on SEDAR. There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.