CALGARY, Alberta, June 30, 2021 (GLOBE NEWSWIRE) -- International Frontier Resources Corporation (“IFR” or the “Company”) (TSX-V: IFR) is pleased to announce that it has closed a first tranche of its previously announced non-brokered private placement financing (see news releases dated May 10, 2021 and June 14, 2021). The Company has issued 30,714,500 shares at a price of $0.025 per common share for aggregate gross proceeds of $767,862.
The private placement is subject to final acceptance from the TSX Venture Exchange. The net proceeds from the Common Share Offering will be used for general working capital purposes. The common shares issued pursuant to the offering are subject to a hold period that expires on October 29, 2021. Finders’ fees of CDN$15,893 were paid to arm’s length parties acting in connection with this tranche of the offering.