Iron South Mining Corporation - Corporate Update
27.10.2014 | The Newswire
Vancouver, October 27, 2014 - Iron South Mining Corp. (TSX-V: IS, FSE: OAY1 (WKN: A0RK7E), "Iron South" or the "Company") announces a proposed consolidation of its share capital on the basis of one new common share of the Company for every three existing common shares. The share consolidation is subject to approval by Iron South shareholders at the upcoming annual general and special meeting to be held on Wednesday, November 12, 2014, and approval by the TSX Venture Exchange. Iron South currently has 24,514,604 common shares issued and outstanding. Post consolidation, there will be approximately 8,171,534 common shares issued and outstanding. Management believes that the consolidation is necessary in order to provide the Company with a share capital structure that will better attract capital financing and enhance future growth opportunities. There will be no name change in conjunction with the consolidation.About Iron South Mining Corp.
Iron South is a Vancouver-based iron exploration company led by an experienced management team. Iron South holds a 100% interest in the Fierro high-grade iron project, located in Rio Negro, Argentina. The project is immediately adjacent to the producing Minera Sierra Grand iron mine, owned by Metallurgical Corporation of China Ltd. Management is continuing to evaluate acquisitions to build its property portfolio with a focus on iron projects with established value and significant upside potential. Iron South is a member of the Grosso Group, a management company specializing in resource exploration since 1993.
ON BEHALF OF THE BOARD
"Nikolaos Cacos"
Nikolaos Cacos, President & CEO
For further information please contact:
Iron South Mining Corp.
Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email: info@ironsouthmining.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
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