/Not for dissemination in the United States or through US newswire services./
VANCOUVER, March 30, 2012 /CNW/ - INFORM RESOURCES CORP. TSX-V: IRR ("Inform or the "Company") is pleased to announce a non-brokered private placement pursuant to which the Company will issue an aggregate of up to 3,333,333 units (the "Units") at a price of $0.30 per Unit to raise gross proceeds of up to $1,000,000.00 and an aggregate of up to 7,142,857 flow-through units (the "FT Units") at a price of $0.35 per FT Unit to raise gross proceeds of up to $2,500,000.00 (together, the "Financing").
Each Unit will consist of one common share of the Company (each, a "Share") and one-half of one common share purchase warrant of the Company (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to acquire an additional Share for a period of 18 months following the date of issuance of the Units at a price of $0.50 per Share. Each FT Unit will consist 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 will entitle the holder to acquire an additional non flow-through Share for a period of 18 months following the date of issuance of the FT Units at a price of $0.50 per Share.
The Financing is subject to TSX Venture Exchange approval and all securities will be subject to a four month resale restriction. The Company may pay a finder's fee in connection with the Financing.
The proceeds from the Financing will be used to execute Inform's proposed exploration program 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 2012 Exploration program will include approximately 7,500 meters of core drilling testing multiple targets on both properties.
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 prolific 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
Aaron Keay 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.
For further information:
Manager, Investor Relations
Chief Executive Officer