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| | Mon May 11, 2009
Island Arc Announces Non-Brokered Private Placement
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| | Island Arc Exploration Corp. (the "Company") has arranged a non-brokered private placement of up to 4,000,000 units (the "Units") at a price of $0.05 per Unit for aggregate proceeds of up to $200,000. Each Unit will consist of one common share of the Company and one-half of one non- transferable share purchase warrant, each whole warrant entitling the holder to purchase an additional common share at a price of $0.10 per share for a period of one year from the completion of the offering. Shares acquired by the placees, and shares which may be acquired upon the exercise of the share purchase warrants, will be subject to a hold period of four months plus one day from the date of completion of the financing in accordance with applicable securities legislation.
Finder's fees in amounts yet to be determined may be paid to persons who introduce the Company to investors.
The proceeds of the private placement will be used to advance the Company's mineral exploration projects in Niger, and for general
working capital.
On behalf of the Board of Directors
Island Arc Exploration Corp.
James T. Gillis, President & CEO
For further information please contact: James Gillis, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this news release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE
UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM. |
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| | You can view the Next News Releases item: Tue Jun 2, 2009, Island Arc Exploration Corp. Completes $166,000 Non-Brokered Private Placement
You can view the Previous News Releases item: Mon May 4, 2009, Island Arc Exploration Corp. Announces Auger Drilling Program In Niger
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