Ironside Resources Inc.: Consolidation and Debt Settlement
30.06.2016 | Marketwire
KELOWNA, June 30, 2016 - Ironside Resources Inc. (the "Company") (TSX VENTURE: IRC) has, effective today, completed the 3 for 1 share consolidation announced on June 7, 2016 along with the comprehensive debt settlement package to eliminate its accrued liabilities to related parties.The Company will issue the following post consolidated shares: RD Capital Inc. - 1,400,000, Richard Matthews - 637,037, Ross McElroy - 1,274,074 for a total of 3,311,111 post consolidated shares. RD Capital, a company controlled by Devinder Randawa, a director and CEO of the Company, will hold a total of 2,079,587 shares (19.9%) of the Company's outstanding post consolidated share capital of 10,426,548.
The debt settlement will enable the Company to better pursue investment opportunities in both the resource and non-resource sectors.
Ironside Resources Inc. Common Shares are listed on the TSX Venture Exchange under the symbol "IRC".
ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, Chairman & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contact
Investor Relations
Greg Downey
1-866-979-7022