Iron Creek Completes $1,000,400 Million Private Placement
10.06.2013 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwired - June 10, 2013) - Iron Creek Capital Corp. ("Iron Creek" or the "Company") (TSX VENTURE:IRN) is pleased to announce that it is has completed its previously announced non-brokered private placement financing (the "Private Placement"), raising $1,000,400 million by the issuance of 16,673,334 units at $0.06 (the "Units"). Each Unit was comprised of one common share (a "Share") and one-half of one non-transferable common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase an additional Share at $0.10 until June 10, 2015.The Company paid finders' fees consisting of Units and Broker Warrants in respect of subscriptions from investors introduced by various finders. Each Broker Warrant entitles the finder to purchase a Share at $0.10 until June 10, 2015.
Of the total Units issued, insiders of the Company purchased an aggregate of 2,223,335 Units, which constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 and TSXV Policy 5.9 (together, the "Policies"). The Company's board of directors has determined that exemptions from the formal valuation and minority approval requirements under the Policies are available.
The Shares, and any Shares issued on the exercise of the Warrants or Broker Warrants are subject to a restricted resale period under Canadian securities law and TSX Venture Exchange ("TSXV") policy until October 11, 2013.
As a result of their participation in the private placement, Eurasian Minerals Inc. hold 15.06% of the issued capital of the Company.
The proceeds of the financing will be used for exploration of the Company's mineral projects in Chile and for general working capital purposes.
About Iron Creek
Iron Creek Capital Corp. is a Vancouver-based mineral exploration company engaged in the acquisition and exploration of precious and base metals projects in Chile.
ON BEHALF OF THE BOARD
Timothy J. Beale
President
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.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA
Contact
Iron Creek Capital Corp.
Timothy J. Beale, President
604.687.5544
604.688.1157 (FAX)
info@ironcreekcapital.com
www.ironcreekcapital.com