Iron Creek Arranges $3.5 Million Financing
VANCOUVER, Oct. 17, 2011 /PRNewswire/ - Iron Creek Capital Corp. (TSXV: IRN) is pleased to announce that it has arranged, subject to stock exchange approval, a non-brokered private placement of up to 8,750,000 units at $0.40 per unit, for proceeds of up to $3.5 million. Each unit will consist of one common share and one-half of a warrant, each whole warrant entitling the holder to purchase one additional common share of the Company at $0.50 in the first year and at $0.55 in the second year. A finder's fee may be paid on a portion of the placement. The finder's fee will consist of 6% units and 6% warrants, each such warrant entitling the finder to purchase one common share at $0.50 in the first year and $0.55 in the second year.
The proceeds of the financing will be used for exploration of the Company's mineral projects in Chile and for general working capital purposes.
About Iron Creek
Iron Creek Capital Corp. is a Vancouver-based mineral exploration company engaged in the acquisition and exploration of precious and base metals projects in Chile.
ON BEHALF OF THE BOARD
"Timothy J. Beale"
Timothy Beale, President
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Iron Creek Capital Corp. Actual results may differ materially from those currently anticipated in such statement.
SOURCE Iron Creek Capital Corp.