IRONSIDE RESOURCES INC. (the “Company”) has, effective today, completed the 3 for 1 share consolidation announced on June 7, 2016 along with the comprehensive debt settlement package to eliminate its accrued liabilities to related parties.
The Company will issue the following post consolidated shares: RD Capital Inc. – 1,400,000, Richard Matthews – 637,037, Ross McElroy – 1,274,074 for a total of 3,311,111 post consolidated shares. RD Capital, a company controlled by Devinder Randawa, a director and CEO of the Company will hold a total of 2,079,587 shares (19.9%) of the Company’s outstanding post consolidated share capital of 10,426,548.
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, Chairman & CEO