/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US NEWSWIRE SERVICES/
VANCOUVER, May 9, 2012 /CNW/ - INFORM RESOURCES CORP. TSX-V: IRR ("Inform" or the "Company") is pleased to announce that, further to its news release of March 30, 2012, it has closed the first tranche of its non-brokered private placement of 955,000 units (the "Units") at a price of $0.30 per Unit for gross proceeds of $286,500 and 983,850 flow-through units (the "FT Units") at a price of $0.35 per FT Unit for gross proceeds of $344,347 for aggregate gross proceeds of $630,847 (together, the "Financing").
Each Unit consists of one common share of the Company (each, a "Share") and one-half of one non-transferable common share purchase warrant of the Company (each whole warrant, a "Warrant"). Each FT Unit consists of one Share, to be issued as a "flow-through share" (as defined in the Income Tax Act (Canada), and one-half of one non flow-through Warrant. Each Warrant entitles the holder to acquire an additional non flow-through Share until November 9, 2013 at a price of $0.50 per Share.
In connection with the Financing, the Company has paid cash finders' fees to certain finders for an aggregate amount of $33,414, which is equal to 7% of the total subscription amount of the number of Units and FT Units purchased by subscribers introduced by the finders to the Company, and has issued an aggregate of 103,169 finders' warrants (the "Finders' Warrants"), which is equal to 7% of the number of Units and FT Units purchased by subscribers introduced by the finders to the Company. Each Finders' Warrant entitles the holder to acquire an additional Share until November 9, 2013 at a price of $0.50 per Share.
All securities issued pursuant to the Financing will be subject to a four-month hold period expiring on September 10, 2012. The proceeds from the Financing will be used for exploration work at the La Liga Project - Mount Mye Silver District and Mike Lake - Brewery Creek Gold District properties in the Yukon, and for general working capital purposes.
The Financing remains subject to the final approval of the TSX Venture Exchange.
Inform Resources Corp. is a TSX-V listed exploration company (TSX-V: IRR) based in Vancouver, BC, Canada. Inform is focused on the acquisition and discovery of economic mineral deposits in the Yukon. The Company's current exploration activities are focused on the Mike Lake Project, a gold-silver-copper system and the La Liga Project, a silver-lead-zinc system, all in the Tintina Gold Belt. The Company's management and technical advisory team's successes include past discoveries as well as currently producing mines in the Yukon. Additional information is available at www.informresources.com.
ON BEHALF OF THE BOARD
Chief Executive Officer
Forward-Looking Statements: Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to proposed exploration, development and production activities and their timing, potential mineralization and the anticipated acquisition of property interests. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, receipt of regulatory approvals, completion of anticipated transactions, the timing and success of future exploration, development and production activities, exploration and development risks, expenditure and financing requirements, title matters, third party consents, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices and one-time events. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the proposed exploration and development of mineral projects will proceed as planned; (2) market fundamentals will result in sustained metals and minerals prices and (3) any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
This press release does not constitute an offer to sell or solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For further information:
Manager, Investor Relations
Inform Resources Corp.
Chief Executive Officer