Inspiration Increases Private Placement
Toronto, Ontario--(Newsfile Corp. - January 30, 2018) - Inspiration Mining Corporation (CSE: ISM) (the "Corporation") is pleased to announce that, subject to regulatory approval, it has amended the terms of its non-brokered private placement previously announced in its press release dated January 10, 2018. The Corporation has increased the number of Units from 7,000,000 to 8,500,000 Units a price of $0.10 per Unit for gross proceeds of up to $850,000.
Each Unit is comprised of one (1) common share and one (1) common share purchase warrant (the "Warrant"). Each Warrant entitles the holder thereof to purchase one (1) common share for a period of two (2) years from the date of issuance. The Warrants are exercisable at a price of $0.15 per common share.
There may be a finder's fee paid in connection with the proposed private placement. The proceeds will be used for general working capital.
For further information, please contact Randy Miller, Chief Executive Officer of the Corporation, at 416.842.9000, www.inspirationmining.com
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.