CALGARY, ALBERTA--(Marketwired - April 18, 2017) - L. Brian Timmerman and Timmerman Trust (the "Joint Sellers") announce today that on April 11, 2017, they sold an aggregate of 1,283,000 common shares (the "Shares") in the capital of Ironhorse Oil & Gas Inc. (TSX VENTURE:IOG), having a head office located at 1000, 324 - 8th Street SW, Calgary, Alberta T2P 2Z2 ("Ironhorse") representing approximately 4.6% of the issued and outstanding common shares of Ironhorse ("Ironhorse Shares").
The Joint Sellers, together with 1927297 Alberta Ltd., a joint actor of the Joint Sellers, beneficially own and control, directly or indirectly, 2,358,500 Ironhorse Shares, representing approximately 8.46% of the issued and outstanding Ironhorse Shares. Immediately prior to the sale of the Shares, the Joint Sellers, together with 1927297 Alberta Ltd., beneficially owned and controlled 3,806,000 Ironhorse Shares, representing approximately 13.65% of the outstanding Ironhorse Shares.
The Shares were sold by the Joint Sellers through the facilities of the TSX Venture Exchange at prices ranging from $0.14 to $0.145 per Share, with an average price per Share of approximately $0.142 or an aggregate purchase price of $182,410.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which Ironhorse is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with Ironhorse's documents on SEDAR at www.sedar.com.
SOURCE: L. Brian Timmerman.