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| Home : Excalibur to Invest in International Explorers & Prospectors Inc. |
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Jul 21
2016 |
Excalibur to Invest in International Explorers & Prospectors Inc. |
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TORONTO, ONTARIO--(Marketwired - July 20, 2016) - Excalibur Resources Ltd. ("Excalibur" or the "Company') (CSE:XBR)(OTCQX:EXCFF)(FRANKFURT:X9CN) is pleased to announce the acceptance of its non-binding proposal to make a $2.5 million investment in International Explorers and Prospectors Inc. ("IEP"). The investment will be made by way of a 2 year, 5% interest debenture plus warrants representing 19.9% of IEP. Excalibur will issue 10 million 2 year warrants priced at $0.10 to IEP as part of the proposed transaction. The investment is to be financed through a proposed debt offering currently being negotiated. |
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| Source:http://www.marketwired.com/mw/release.do?id=2143934&sourceType=3 |
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