International Prospect Ventures Closes $602,000 Private Placement Financing

Rhea-AI Summary

International Prospect Ventures (TSXV: IZZ; symbol provided: URANF) closed a $602,000 non-brokered private placement on October 14, 2025.

The Company issued 12,040,000 Units at $0.05 per Unit; each Unit includes one common share and one non-transferable warrant exercisable at $0.07 until October 14, 2028. The Offering was oversubscribed by 40,000 Units for an additional $2,000.

Four insiders subscribed for $256,000 (related party transaction) and the Company issued 265,200 common shares plus 265,200 finder's warrants to an arm's-length finder as $13,260 in finder's fees. Proceeds are for general corporate purposes. All securities are subject to a hold period until February 15, 2026.

Positive

• Raised $602,000 gross proceeds
• Issued 12,040,000 Units at $0.05
• Warrants exercisable at $0.07 until Oct 14, 2028
• Insider participation of $256,000 providing partial insider support

Negative

• Issued 12,040,000 new Units, diluting existing shareholders
• Finder's fees of 265,200 shares plus 265,200 finder's warrants
• All securities subject to hold period until Feb 15, 2026, limiting short-term liquidity

Val-d'Or, Québec--(Newsfile Corp. - October 14, 2025) - International Prospect Ventures Ltd. (TSXV: IZZ) (the "Company" or "International Prospect") announces that, further to its news releases of September 24 and September 25, 2025, it has completed a non-brokered private placement offering (the "Offering") for gross proceeds of $602,000.

The Company issued 12,040,000 Units under the Offering at a per Unit price of $0.05, each Unit comprised of one common share in the capital of the Company and one non-transferable share purchase warrant entitling the purchase of one common share at a per share price of $0.07 until October 14, 2028.

The Offering was oversubscribed by 40,000 Units for additional gross proceeds of $2,000 from the amount previously announced by the Company on September 25, 2025.

Four insiders of the Company participated in the Offering for aggregate cash consideration to the Company of $256,000, which constitutes a Related Party Transaction under TSX Venture Exchange Policy 5.9. The Company availed itself of the exemptions contained in section 5.5(c) of MI 61-101 (distribution of securities for cash) for an exemption from the formal valuation requirement and Section 5.7(1)(b) of MI 61-101 for an exemption from the minority shareholder approval requirement of MI 61-101 as the fair market value of the securities to be distributed in the transaction, and the consideration to be received by the Company for those securities, insofar as the transaction involves interested parties that did not exceed $2,500,000.

In connection with the Offering, the Company issued an aggregate 265,200 common shares at a deemed per share price of $0.05 to an arm's length party in satisfaction of an aggregate $13,260 in finder's fees from proceeds received from subscribers introduced to the Company by the finder, and issued 265,200 finder's warrants exercisable at a price of $0.07 until October 14, 2028.

The net proceeds raised from the Offering will be used by the Company for general corporate purposes.

All securities issued under the Offering, including the common shares underlying the warrants and finder's warrants, are subject to a hold period until February 15, 2026, in accordance with applicable securities legislation and the policies of the TSX Venture Exchange.

About International Prospect Ventures Ltd.

International Prospect Ventures is a junior mineral exploration company that holds interests in mining claims and tenements (and is continuing to acquire additional interests) located primarily in the Pilbara Craton, Western Australia, within an area Southeast of Karratha, where early-stage gold discoveries have been reported.

The Company also has a 100% interest in the Porcupine Miracle Gold Prospect, consisting of 4 mineral claims located in Langmuir Township, Ontario.

International Prospect Ventures continues to evaluate additional opportunities on an ongoing basis.

For additional information, please contact:

Glenn J. Mullan
President and CEO
2772 chemin Sullivan
Val-d'Or, Québec J9P 0B9
Tel.: 819-824-2808, x 204
Email: glenn.mullan@groupzedzed.com
Website: www.iprospectventures.ca

Forward Looking Statements:

This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in 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 TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/269809

FAQ

What did International Prospect Ventures announce on October 14, 2025 (URANF / IZZ)?

The company closed a $602,000 non-brokered private placement, issuing 12,040,000 Units at $0.05 per Unit.

How many warrants were issued and what is the exercise price for IZZ units from Oct 14, 2025 financing?

Each Unit included one non-transferable warrant exercisable at $0.07 per share until October 14, 2028.

How much insider participation occurred in the October 14, 2025 private placement for URANF/IZZ?

Four insiders subscribed for an aggregate of $256,000, a Related Party Transaction under TSXV policy.

What were the finder's fees in the International Prospect financing announced Oct 14, 2025?

The company issued 265,200 common shares at a deemed price of $0.05 and 265,200 finder's warrants as payment for $13,260 in fees.

When do securities issued in the Oct 14, 2025 Offering become tradable for IZZ shareholders?

All securities issued under the Offering are subject to a hold period ending on February 15, 2026.