Stan Bharti

June 23, 2015 13:52 ET

Stan Bharti Acquires Common Shares of Black Iron Inc.

TORONTO, ONTARIO--(Marketwired - June 23, 2015) - Stan Bharti ("Bharti") announces that on June 2, 2015, Bharti acquired 7,680,182 common shares (the "Purchased Shares") of Black Iron Inc. ("BKI") at a price of $0.0499 per Purchased Share pursuant to a private transaction (the "Transaction"). The Purchased Shares represent 4.76% of the 161,137,019 issued and outstanding common shares of BKI.

Prior to the completion of the Transaction, Bharti owned 8,704,100 common shares of BKI (the "Owned Shares") and together with the Purchased Shares owns an aggregate of 16,384,282 common shares of BKI, representing approximately 10.17% of the 161,137,019 issued and outstanding common shares of BKI.

Bharti subscribed for the Purchased Shares for investment purposes and continues to monitor the business, prospects, financial condition and potential capital requirements of BKI. Depending on its evaluation of these and other factors, Bharti may from time to time in the future increase or decrease its ownership, control or direction over the common shares or other securities of BKI though market transactions, private agreements, subscriptions from treasury or otherwise.

For further information, including a copy of the early warning report filed in connection with this transaction, please contact Kam Gill at (416) 861-5875.

Stan Bharti
65 Queen Street West, Suite 805
Toronto, Ontario
M5H 2M5

Contact Information

  • Kam Gill
    (416) 861-5875