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Innovative Properties Inc. - Private placement for $75,000

HALIFAX, Sept. 11 /CNW/ - Innovative Properties Inc. (the "Corporation")(TSX-V: INR) is pleased to announce that it has completed its previously announced non-brokered private placement raising gross proceeds of $75,000.00. The offering consisted of the issuance of 1,500,000 units ("Units") of the Corporation. Each Unit is comprised of one common share of the Corporation and one share purchase warrant. Each share purchase warrant is exercisable at $0.10 per common share and the share purchase warrant must be exercised within 24 months of closing. The funds raised from the issuance of the Units will be used for general corporate purposes and the advancement of the development activities of the Corporation. The offering is subject to TSX Venture Exchange approval and all other required approvals. All securities issued in connection with this offering will be subject to a four-month hold period in accordance with securities requirements. The Securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") and were offered and sold within the United States only to Accredited Investors (as defined in Rule 501(a) of Regulation D under the U.S. Securities Act). Prospective subscribers of the Units in the United States are hereby notified that the seller of the Units is relying upon the exemption from the provisions of Section 5 of the U.S. Securities Act provided in Section 4(2) of the U.S. Securities Act for non-public offerings. The Securities offered hereby are not transferable except in accordance with the restrictions described herein.

For further information: Head Office: Gordon Neal, Secretary, (902)463-2639, Fax: (902) 463-9897, info@innovativeproperties.com;
www.innovativeproperties.com

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