Mr. Steve Hanson reports
IFR ANNOUNCES PROPOSED PRIVATE PLACEMENT
International Frontier Resources Corp. intends to complete a non-brokered private placement for gross proceeds of up to $3.5-million (U.S.) by the issuance of up to 50 million common shares at a price of seven U.S. cents per share.
The closing of the private placement is expected to occur on or about April 19, 2019, and is subject to regulatory approval, including the approval of the TSX Venture Exchange. The net proceeds from the private placement will be used to finance the corporation's continuing capital program, for further advances on the company's Tecolutla project and for general working capital purposes. A finder's fee of up to 6 per cent of the gross proceeds of the private placement may be paid on all or any portion of the private placement. The common shares issued in connection with the private placement will be subject to a hold period of four months from the date of closing. For further details on the private placement, please contact the company.
About International Frontier Resources Corp.
International Frontier Resources is a Canadian publicly traded company with a demonstrated record of advancing oil and gas projects. Through its Mexican subsidiary, Petro Frontera SAPI de CV, and strategic joint ventures, the company is advancing the development of petroleum and natural gas assets in Mexico. The company also has projects in Canada and the United States, including the Northwest Territories and Montana.
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