CALGARY, ALBERTA–(Marketwired – April 28, 2016) – Ikkuma Resources Corp. (“Ikkuma” or the “Company“) (TSX VENTURE:IKM) is pleased to announce that it has increased its previously announced bought deal financing with a syndicate of underwriters led by Desjardins Capital Markets (the “Underwriters“), whereby the Corporation will now issue 14,085,000 flow-through common shares of the Company (the “Flow-Through Shares“) for re-sale at a price of $0.71 per Flow-Through Share for gross proceeds of approximately $10 million (the “Offering“). The gross proceeds from the Offering will be used by Ikkuma to incur eligible Canadian exploration expenses (“Qualifying Expenditures“) prior to December 31, 2017. Ikkuma will renounce the Qualifying Expenditures to subscribers of the Flow-Through Shares for the fiscal year ended December 31, 2016. All other terms and conditions of the financing remain the same as previously announced.
The completion of the Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the TSX Venture Exchange. Closing of the Offering is expected to occur on or about May 12, 2016. The Flow-Through Shares issued pursuant to the Offering will be subject to a statutory hold period of four months plus one day from the closing of the Offering, in accordance with applicable securities legislation.
Ikkuma Resources Corp. is a diversified junior public oil and gas company listed on the TSXV under the symbol “IKM”, with holdings in both conventional and unconventional projects in Western Canada. The technical team has worked together for over a decade in the Foothills Region of Western Canada, through two successful, publicly traded companies. The unique skills and repeat success at exploiting a complex, potentially prolific play type are fundamental ingredients for a successful growth-oriented company in Western Canada. Corporate information can be found at: www.ikkumarescorp.com.