Ireland, Inc. (OTCBB:IRLD) announced a private placement of NMC units for gross proceeds of $300,000 with existing investor Nanominerals Corp. on March 25, 2014. The company entered into a subscription agreement in the transaction.

The total number of NMC units to be sold to the investor on closing will be based on a per unit purchase price equal to the greater of $0.20 and the average closing price of the common share over the ten trading days immediately prior to closing. Each NMC unit consists of one common share and one share purchase warrant entitling the holder thereof to purchase one additional share of common stock at a price equal to 200% of the per unit purchase price, for a period expiring on March 29, 2019. Christian I. Cu of Northwest Law Group will act as legal advisor to the company.

The transaction is expected to close on or before August 15, 2014.