CALGARY, July 11, 2016 /CNW/ - L. Brian Timmerman (the "Acquiror") announces today that on July 8, 2016 he acquired 579,000 common shares (the "Acquired Shares") in the capital of Ironhorse Oil & Gas Inc. (TSXV:IOG) having a head office located at 1000, 324 - 8th Street SW, Calgary, Alberta T2P 2Z2 ("Ironhorse"), representing approximately 2.08% of the issued and outstanding common shares of Ironhorse ("Ironhorse Shares"). Immediately after the acquisition, the Acquiror, beneficially owns and controls, directly or indirectly, 3,806,000 Ironhorse Shares, representing approximately 13.65% of the issued and outstanding Ironhorse Shares. Immediately prior to the acquisition of the Acquired Shares, the Acquiror, together with Timmerman Trust, a joint actor of the Acquiror, beneficially owned and controlled 3,227,000 Ironhorse Shares, representing approximately 11.57% of the outstanding Ironhorse Shares.
The Acquired Shares were purchased by the Acquiror through the facilities of the TSX Venture Exchange at prices ranging from $0.070 to $0.075 per Acquired Share, with an average price per Acquired Share of approximately $0.07068 or an aggregate purchase price of $40,925.
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
For further information: including provision of a copy of the Early Warning Report upon request: L. Brian Timmerman, c/o Bennett Jones LLP, 4500, 855 2 St S.W., Calgary, Alberta T2P 4K7, Attention: Kelly R. Ford (403-298-3364)