VANCOUVER, Nov. 28, 2011 /CNW/ - Iron Creek Capital Corp. (TSXV: IRN) -
"Iron Creek") is pleased to announce that it has closed its previously
announced non-brokered private placement by issuing 8,785,000 units at
$0.40 per unit, for gross proceeds of $3,514,000. Each unit consists
of one common share and one-half of a warrant, each whole warrant
entitling the holder to purchase one additional common share for two
years, exercisable at $0.50 in the first year and at $0.55 in the
second year. The Company also issued 215,700 common shares and 323,550
warrants as finders' fees in connection with the financing. The
finders' fee warrants have the same terms as the unit warrants. All of
the shares and warrants have a resale restriction until March 24, 2012.
As a result of their participation in the private placement, Kinross
Gold Corporation holds 6.7% of the issued capital of the Company, and
Hochschild Mining Holdings Limited has increased its shareholdings to
The proceeds of the financing will be used for exploration of the
Company's mineral projects in Chile and for general working capital
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.
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