Black Iron Inc.

Black Iron Inc.

February 01, 2011 21:11 ET

Black Iron Files for Initial Public Offering

TORONTO, ONTARIO--(Marketwire - Feb. 1, 2011) -


Black Iron Inc. ("Black Iron" or the "Company") announced today that it has filed a preliminary prospectus with the securities regulatory authorities in each of the provinces of Canada excluding Québec in connection with a proposed initial public offering (the "Offering") of its common shares (the "Shares"). The Company is an iron ore exploration and development company with projects located in Krivoy Rog, Ukraine.

The syndicate for the Offering is led by GMP Securities L.P. and includes Canaccord Genuity Corp., CIBC World Markets Inc., BMO Nesbitt Burns Inc., Dundee Securities Corporation and Macquarie Capital Markets Canada Ltd.

The preliminary prospectus is subject to completion or amendment and there will not be any sale or any acceptance of an offer to buy the Shares until a receipt for the final prospectus has been issued. Completion of the Offering is subject to and conditional upon the receipt of all necessary approvals, including regulatory approvals.

A copy of the preliminary prospectus is available on SEDAR at

A National Instrument 43-101 ("NI 43-101") compliant technical report entitled "Resource Estimate — Shymanivske Deposit in Ukraine, Technical Report NI 43-101" (the "Technical Report"), dated January 27, 2011, has been prepared in respect of the Shymanivske project and is available on the Company's SEDAR profile at

The Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws and may not be offered or sold in the United States or to U.S. Persons absent registration or an available exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Shares, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About the Company

Black Iron Inc. is an iron ore exploration and development company advancing its 100% owned Shymanivske project located in Krivoy Rog, Ukraine to production. This project contains 345Mt measured and indicated resources grading 32% iron and 469Mt of inferred resources grading 31% iron. The project is surrounded by five other operating mines including ArcelorMittal's iron ore complex. Existing infrastructure including access to power, rail and port facilities allows for a quick development timeline to production. Further, the company holds an exploration permit for the adjacent Zelenivske project which it intends to further explore to determine its potential.

Please visit the Company's website at or write us at

The technical contents of this press release have been prepared under the supervision of Matt Simpson, President & Chief Executive Officer of the Company, who is a Qualified Person as defined by NI 43-101. For further information, please see the Technical Report, which is available on SEDAR at

Forward Looking Information

This press release contains "forward-looking information" which may include, but is not limited to, statements with respect to the completion of the Offering. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes" or variations (including negative variations) of such words and phrases, or by the use of words or phrases that state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking information are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate. Forward-looking information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this press release, including, without limitation those described in the preliminary prospectus under the heading "Risk Factors". Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in such forward-looking information, there may be other factors that may cause actions, events or results to differ from those anticipated, estimated or intended. Should one or more of these risks or uncertainties materialize or should assumptions underlying such forward-looking information prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking information contained in this press release. The forward-looking information and forward-looking information contained herein are made as of the date of this press release and the Company disclaims any obligation to update or review such information or statements, whether as a result of new information, future events or results of otherwise, except as required by law.

Contact Information

  • Black Iron Inc.
    Investor Relations
    +1 (647) 258-3311
    Toll Free: 1 888 258 3323
    Black Iron Inc.
    Matt Simpson
    President & Chief Executive Officer
    +1 (416) 309-2138