Iron Creek Obtains Approval From Shareholders, Sets Date for Share Consolidation, and Provides Update on $5 Million Financing
10.04.2014 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwired - Apr 10, 2014) - Iron Creek Capital Corp. (TSX VENTURE:IRN) ("Iron Creek" or the "Company") announces that the date for the consolidation of its common shares on the basis of one (1) "new" common share for seven (7) "old" common shares has been set. Effective Monday, April 14, 2014, the common shares of the Company will commence trading on the TSX Venture Exchange on a consolidated basis under the same stock symbol "IRN". The new CUSIP number and ISIN are 462817206 and CA4628172062 respectively.The share consolidation, as originally announced in a news release dated January 29, 2014, was approved by shareholders at Iron Creek's Special General Meeting held on April 7, 2014, and was subsequently approved by the TSX Venture Exchange.
No fractional shares will be issued under the share consolidation. Instead, all fractional shares resulting from the consolidation of less than one-half will be rounded down to the nearest whole number, and of one-half or greater will be rounded up to the nearest whole number.
Letters of transmittal describing the process by which shareholders may obtain new certificates representing their consolidated common shares will be mailed shortly to registered shareholders. Shareholders holding their shares through a broker or other intermediary and consequently not having shares registered in their name will not be required to complete a letter of transmittal.
Following consolidation and subject to rounding, the Company will have 7,612,320 issued and outstanding common shares. All outstanding incentive stock options and share purchase warrants will be adjusted accordingly to reflect the share consolidation.
Private Placement Financing - Update
Iron Creek is progressing towards closing of its proposed $5 million financing also announced in the January 29, 2014 news release. The Company is pleased that, due to demand, it has increased the overall financing amount, subject to regulatory approval, to approximately $5.6 million. The consolidation of its share base was a pre-requisite for completion of the financing, and closing is now planned for Thursday April 17, 2014, subject to TSX Venture Exchange approval.
About Iron Creek
Iron Creek Capital Corp. is a Vancouver-based exploration company focused on the acquisition and exploration of world-class mineral systems in Chile. The Company has assembled a portfolio of exploration projects prospective for gold, silver and copper mineralization. The Company has a strong management team with many decades of combined experience in Chile and Latin America, led by Tim Beale (President), Michael Winn (CEO) and John Davidson (Exploration Manager). The Company currently controls more than 60,000 hectares of exploration tenement along proven mineral belts, and is advancing several precious metals and copper projects including the wholly owned Las Pampas, T4 and Magallanes projects.
ON BEHALF OF THE BOARD
Timothy J. Beale
President
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Iron Creek Capital Corp. Actual results may differ materially from those currently anticipated in such statement.
Contact
Iron Creek Capital Corp.
604.687.5544
604.688.1157
info@ironcreekcapital.com
www.ironcreekcapital.com