January 15, 2010 (FinancialWire) — Ireland Inc. (OTCBB: IRLD), a Nevada-based minerals exploration and development company, said it has completed a $4.9 million private placement financing.

The company sold 11.035 million units to accredited and foreign investors under separate offerings at a price of $0.45 each. Each Unit was comprised of one share of Ireland’s common stock and one-half of one share purchase warrant.

Each full share purchase warrant, which expires on June 30, 2013, entitles the holder to purchase one additional share of Ireland’s common stock at a price of $0.75 per share.

Nevada-based Ireland is focused on the discovery and extraction of precious metals from mineral deposits in the Southwestern United States.

In 2007, Ireland acquired rights to two mining properties, both of which are prospective for gold and other minerals. In early 2008, Ireland completed the acquisition of the Columbus Project located near Tonopah, Nevada, where it has an option to acquire additional adjacent mineral claims.

Ireland also owns rights to acquire up to 100% of the Red Mountain Project in San Bernardino County, California.

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