SOURCE: Ironside Resources Inc.

June 07, 2016 12:05 ET

Ironside Resources Inc. Consolidation and Debt Settlement

KELOWNA, BC--(Marketwired - June 07, 2016) - IRONSIDE RESOURCES INC. (TSX VENTURE: IRC) (the "Company") has agreed to a comprehensive debt settlement package to eliminate its accrued liabilities to related parties by issuing shares for debt to the CEO and directors in the total amount of $379,000 ("Debt").

In addition, the directors of the Company have approved a share consolidation on a 1 new for 3 old basis. The Company will issue the following post consolidated shares: RD Capital Inc. 1,518,518, Richard Matthews 637,037, Ross McElroy 1,274,074 for a total of 3,429,629 post consolidated shares. The shares to be issued will be subject a four month hold period.

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 Information

  • Investor Relations:
    Greg Downey
    1-866-979-7022