Business
Ironhorse Oil & Gas Inc. Announces $5 Million Flow-Through Financing
Ironhorse Oil & Gas Inc. Announces $5 Million Flow-Through Financing
About this update from Pond Technologies Holdings Inc.
[{"type":"text","content":"\nIronhorse Oil & Gas Inc. Announces $5 Million Flow-Through Financing\n\n\n Mar. 22, 2010 (Filing Services Canada) -- Ironhorse Oil & Gas Inc. (IOG - TSX Venture), (the \"Company\") is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Jacob Securities Inc. (\"Jacob Securities\") to issue, by way of a private placement, up to 3,600,000 flow-through common shares (the \"Shares\") at $1.40 per Share for gross proceeds of up to $5,040,000 (the \"Offering\"). The Company will issue 1,800,000 shares on a bought deal basis and up to an additional 1,800,000 shares on a best efforts basis. The gross proceeds of the Offering will be used to fund ongoing exploration activities which are eligible Canadian Exploration Expenses.  Jacob Securities will be paid a commission of 6% of the gross proceeds of the Offering.Closing of the Offering is expected to occur on or about April 14, 2010, and is subject to the receipt of all requisite regulatory and stock exchange approvals.  The securities issued under the Offering will be subject to a four month hold period from the date of closing.For further information, please contact:Rob SolingerVP Finance & CFO(403) [email protected] or visit our website at www.ihorse.ca Ironhorse Oil & Gas Inc. is a Calgary-based junior oil and natural gas production company trading on the TSX Venture Exchange under the symbol \"IOG\".\"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.\"Forward-Looking StatementsStatements throughout this release that are not historical facts may be considered to be \"forward-looking statements\". These forward looking statements sometimes include words to the effect that management believes or expects a stated condition or result. All estimates and statements that describe the Company's objectives, goals, or future plans, including management's assessment of future plans and operations, drilling plans and timing thereof, expected production rates and additions and the expected levels of activities may constitute forward-looking statements under applicable securities laws and necessarily involve risks including, without limitation, risks associated with...