On April 4, 2024, International Prospect Ventures Ltd. closed the transaction. The company issued 6,100,000 Units at an issue price of CAD 0.05 per unit for the gross proceeds of CAD 305,000. each Unit comprised of one common share and one-half of one non-transferable share purchase warrant, each whole warrant entitling the purchase of one common share at a per share price of CAD  until April 4, 2026. Four insiders of the Company participated in the Offering for aggregate cash consideration to the Company of CAD 68,000. In connection with the Offering, the Company paid cash finder's fees in the amount of CAD 2,200 and issued 110,000 finder's warrants exercisable at a price of CAD 0.07 until April 4, 2026, to an arm's length finder. All securities issued under the Offering, including common shares underlying the warrants, are subject to a hold period until August 5, 2024, in accordance with applicable securities legislation and the policies of the TSX Venture Exchange. The transaction was oversubscribed. The transaction included participation from returning investor Glenn J. Mullan acquiring 1,280,000 units at a per Unit price of CAD 0.05 for total cash consideration to the Issuer of CAD 64,000 and the investor?s ownership percentage of common shares increased by approximately 1.68% and the investor?s security holding percentage on a post-conversion beneficial ownership basis increased by approximately 5.67%. Immediately before the transactions, the investor owned, directly and indirectly, an aggregate 4,182,634 common shares of the company representing approximately 8.175% of the Issuer?s then issued and outstanding common shares and owned options entitling the purchase of an aggregate 845,000 common shares of the company and warrants entitling the purchase of an aggregate 1,612,222 common shares of the company, or, assuming exercise of the options and the warrants, a total of 6,639,856 common shares or approximately 12.38% of the company?s common shares on a post-conversion beneficial ownership basis. Immediately after the transactions, the investor owns, directly and indirectly, an aggregate 5,762,634 common shares of the company representing approximately 9.86% of the company?s now issued and outstanding common shares and owns options entitling the purchase of an aggregate 845,000 common shares of the company and warrants entitling the purchase of an aggregate 2,252,222 common shares of the Issuer, or, assuming exercise of the options and warrants, a total of 11,112,078 common shares or approximately 18.05% of the company's common shares on a post-conversion beneficial ownership basis.
On April 8, 2024, the company announced that the TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 19 placees.