Iron Tank Resources Corp.

June 19, 2014 09:00 ET

Iron Tank Resources Corp. Provides Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 19, 2014) - Iron Tank Resources Corp. (TSX VENTURE:TNK) ("Iron Tank", or the "Company") is pleased to announce it has begun evaluating an application for a medical marijuana license and facility. As part of the evaluation process, the Company has hired Mr. Darren Kaulius, to lead this evaluation. Mr. Kaulius has extensive experience in the food and health industry and has been involved in the application process for other groups. Mr. Kaulius will be appointed to the board of directors.

As part of the evaluation and application process, the Company and Mr. Kaulius have engaged a number of consultants to assist the process. As well the Company has secured a parcel of land located in the BC Agricultural Land Reserve; this land has been secured under an option to purchase. The option requires monthly payments of $1,500; all payments made under the option agreement will be credited against the purchase price upon completion of the purchase of the land. The evaluation and application process is expected to take a number of months and there is no guarantee that the evaluation and application process will result in the Company securing a license for a commercial facility. The Company will continue to update shareholders through the process.

This news release contains forward-looking statements or information ("forward-looking statements"), including details about the evaluation and application process for the potential transaction. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, stock market volatility, the risks that the Company will not proceed with the potential transaction, that the ultimate terms of the potential transaction will differ from those that currently are contemplated and the ability to access sufficient capital from internal and external sources. Although the Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our public disclosure documents available at Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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