Kelowna, British Columbia, July 10, 2015 – IRONSIDE RESOURCES INC. (“Ironside”) is pleased to announce that it has completed the previously announced private placement with BALLYLIFFIN CAPITAL CORP. (“Ballyliffin”). Ballyliffin has acquired 6,567,600 post-consolidated common shares of Ironside (“Ironside Share”) at a price of $0.125 per share for gross proceeds of $820,950. The Ironside Shares will be subject to a hold period of 4 months expiring on November 10, 2015.
The transaction constitutes Ballyliffin’s Qualifying Transaction pursuant to the policies of the TSX Venture Exchange.
CST Trust Company, the transfer agent for Ironside, will distribute the Ironside Shares to the Ballyliffin shareholders of record as of July 9, 2015 on a pro-rata basis as a return of capital. Each shareholder of Ballyliffin will receive 0.32 Ironside Shares for every share of Ballyliffin held as of the record date. Of the Ironside Shares to be distributed, 504,960 Ironside Shares have been deposited in escrow with CST Trust Company. These escrowed Ironside Shares replace the Ballyliffin shares held by the Ballyliffin seed investors which were held in escrow pursuant to the policies of the Exchange.
The common shares of Ballyliffin will be delisted from the Exchange and Ballyliffin will complete a voluntary dissolution as soon as practicable.
Further details of the transaction, the return of capital and the subsequent dissolution of Ballyliffin can be found in the management information circular of Ballyliffin dated June 3, 2015 which is available at www.sedar.com.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release.
For further information, please contact:
Phone: (250) 979-7022
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.