Intercontinental Gold and Metals Ltd. (TSXV:ICAU) announced a non-brokered private placement of 4,500,000 units at CAD 0.135 per unit for gross proceeds of CAD 607,500 on February 9, 2021. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable for one common share of the company at an exercise price of CAD 0.20 per share for a period of 24 months from the date of closing. All securities issued under the transaction will be subject to a four-month and one day statutory hold period. Closing of the transaction is subject to receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange.