NEWS

News

International Samuel Announces Non-Brokered Private Placement of up to $105,000

International Samuel Exploration Corp. (the  “Company”) (TSX Venture: ISS”) is pleased to announce that it has arranged a non-brokered private placement (the “Private Placement”) to raise aggregate gross proceeds to the Company of up to $105,000 by the issuance of up to 656,250 units (each a “Unit”) at a purchase price of $0.16 per Unit.  Each Unit will consist of one common share (“Common Share”) of the Company and one non‑transferable common share purchase warrant (“Warrant”).  Each Warrant will entitle the holder to acquire one additional common share (a “Warrant Share”) of the Company at an exercise price of $0.25 per Warrant Share for a period of five years from the closing date of the Private Placement.  Notwithstanding the above, if at any time after the date of closing of the Private Placement, the closing trading price of the common Shares of the Company on the TSX Venture Exchange has been greater than $0.50 for a period of 10 consecutive trading days, the Issuer shall have an option, exercisable in its sole discretion, to request that all holders of the Warrants exercise their Warrants by providing notice (the “Notice”) advising the holders that they shall have 30 days to exercise their Warrants, and any unexercised Warrants after the expiry of the 30th day following the Notice shall expire with no further rights and privileges attached thereto.

Insiders of the Company will be participating in the Private Placement.

The Company may pay a finder’s fee in connection with the Private Placement equal to 8 percent of the amount raised from arm’s length investors, in cash or common shares of the Company at the option of the finder.

The net proceeds from the Private Placement will be used for general working capital purposes.

All of the securities issued pursuant to the Private Placement will be subject to a minimum four month hold period.  The Private Placement and payment of any finder’s fee are subject to acceptance by the TSX Venture Exchange.

ON BEHALF OF THE BOARD OF DIRECTORS

Conrad Swanson, President

For further information, please contact:  info@internationalsamuel.com 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.