Irving Resources Announces Closing of Final Tranche of Non-Brokered Private Placement

Rhea-AI Summary

Irving Resources (OTCQX:IRVRF) closed the final tranche of a non-brokered private placement on February 25, 2026, completing gross proceeds of $3,925,000.

Tranche 2 raised $1,775,000 via issuance of 7,100,000 units at $0.25 per unit; total issuance was 15,700,000 units. Each unit includes one common share and one-half warrant exercisable at $0.35 for three years. Finder fees of $51,600 and 86,400 units were paid. Securities from Tranche 2 are subject to a hold period expiring June 25, 2026.

Positive

• Gross proceeds of $3,925,000 raised under the placement
• Tranche 2 contributed $1,775,000 via 7,100,000 units
• Each Warrant exercisable at $0.35 for three years

Negative

• Issuance of 15,700,000 units implies significant shareholder dilution
• Finder fees and units equal $51,600 plus 86,400 units issued
• Tranche 2 securities subject to hold period until June 25, 2026

News Market Reaction – IRVRF

-8.13%

-8.13% Session close to close

In the Feb 26 session, IRVRF declined 8.13%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESS Newswire / February 25, 2026 / Irving Resources Inc. (CSE:IRV)(OTCQX:IRVRF)(FSE:1IR) ("Irving" or the "Company") is pleased to announce the closing of the final tranche (the "Tranche 2") of its non-brokered private placement (the "Private Placement") announced in the Company's news releases of January 22 and 26, 2026. The Company raised gross proceeds of $1,775,000 in Tranche 2 through the issuance of 7,100,000 units (each, a "Unit") at a price of $0.25 per Unit. In total, gross proceeds of $3,925,000 were raised under the Private Placement by the issuance of 15,700,000 Units. Each Unit consisted of one common share of the Company (each, a "Share") and one-half of one transferrable Share purchase warrant (each whole Share purchase warrant, a "Warrant"), with each Warrant entitling the holder to purchase one Share for a period of three years from the date of issuance at a price of $0.35 per Share.

The Company paid finders' fees totalling $51,600 and issued 86,400 units (each, a "Finder's Unit") in connection with Tranche 2. Each Finder's Unit consisted of one Share and one-half of one non-transferable Share purchase warrant (each whole Share purchase warrant, a "Finder's Warrant"), with each Finder's Warrant entitling the holder to purchase one Share for a period of three years from the date of issuance at a price of $0.35 per Share. All securities issued by the Company in Tranche 2 are subject to a hold period expiring on June 25, 2026.

About Irving

Irving is a junior exploration company with a focus on gold in Japan. Irving resulted from completion of a plan of arrangement involving Irving, Gold Canyon Resources Inc. and First Mining Finance Corp. Additional information can be found on the Company's website: www.IRVresources.com.

Akiko Levinson,
President, CEO & Director

For further information, please contact:

Tel: (604) 682-3234 Toll free: 1 (888) 242-3234 Fax: (604) 971-0209
info@IRVresources.com

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States or to any "U.S Person" (as such term is defined in Regulation S under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"). The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE

SOURCE: Irving Resources Inc

View the original press release on ACCESS Newswire

FAQ

How much did Irving Resources (IRVRF) raise in the final tranche on February 25, 2026?

The final tranche (Tranche 2) raised $1,775,000 via 7,100,000 units at $0.25 each. According to the company, total proceeds for the overall private placement reached $3,925,000 across 15,700,000 units.

What does each unit include in Irving Resources' (IRVRF) private placement?

Each unit includes one common share and one-half of one transferrable warrant exercisable at $0.35. According to the company, warrants are valid for three years from issuance.

When do securities from Irving Resources' (IRVRF) Tranche 2 become tradable?

Securities issued in Tranche 2 are subject to a statutory hold period until June 25, 2026. According to the company, this hold restricts resale before that expiry date.

What finder compensation did Irving Resources (IRVRF) pay for Tranche 2?

The company paid finders' fees totaling $51,600 and issued 86,400 finder units in Tranche 2. According to the company, each finder unit includes one share plus one-half non-transferable warrant.

How could the private placement affect Irving Resources' (IRVRF) shareholders?

The issuance of 15,700,000 units increases outstanding shares and potential dilution from warrants exercisable at $0.35. According to the company, this financing strengthens cash reserves but may dilute per-share metrics.