Mr. Richard Barnett reports
ICONIC ANNOUNCES NEGOTIATION OF EQUITY FINANCING UP TO $500,000
Iconic Minerals Ltd. has negotiated, subject to acceptance by the TSX Venture Exchange, a private placement for gross proceeds of up to $500,000. Upon receipt of acceptance from the TSX-V to the financing, the company will issue up to 4,545,454 units at a price of 11 cents per unit, each unit being composed of one common share and one-half share purchase warrant, each whole warrant being exercisable into one common share for a period of one year from the date of issuance at 20 cents per share.
Proceeds raised will be used toward expenditures required for the Bonnie Claire lithium property and for general working capital purposes.
The company may pay finders' fees in connection with the financing in accordance with the rules and policies of the TSX-V.
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