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IRONSIDE RESOURCES INC. CONSOLIDATION AND DEBT SETTLEMENT

2016 News Releases

IRONSIDE RESOURCES INC. CONSOLIDATION AND DEBT SETTLEMENT

June 7, 2016

IRONSIDE RESOURCES INC. (the “Company”) has agreed to a comprehensive debt settlement package to eliminate its accrued liabilities to related parties by issuing shares for debt to the CEO and directors in the total amount of $379,000 (“Debt”).

In addition, the directors of the Company have approved a share consolidation on a 1 new for 3 old basis. The Company will issue the following post consolidated shares: RD Capital Inc. 1,518,518, Richard Matthews 637,037, Ross McElroy 1,274,074 for a total of 3,429,629 post consolidated shares. The shares to be issued will be subject a four month hold period.

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"

Dev Randhawa, Chairman & CEO

                                                                                                               

Investor Relations:

Greg Downey

1-866-979-7022