Iona Energy Inc. (TSXV:INA) announced a bought deal private placement of 36,364,000 common shares at CAD 0.55 per share for gross proceeds of CAD 20,000,200 on January 18, 2013. Casimir Capital Ltd will serve as a lead underwriter to the company. It will also grant an option to the agent exercisable at any time prior to closing to increase the size of the issuance by an additional 15%, which would result in additional gross proceeds of CAD 3,000,030.

The transaction is expected to close on January 31, 2013. All securities issued will be subject to a hold period of our months.