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BRIEF-Velvet Energy And Iron Bridge Resources Announce Successful Tender And Take-Up Of 81.98 Pct Of Iron Bridge Common Shares

Published 2018-09-24, 08:57 p/m
Updated 2018-09-24, 09:00 p/m
BRIEF-Velvet Energy And Iron Bridge Resources Announce Successful Tender And Take-Up Of 81.98 Pct Of Iron Bridge Common Shares

Sept 24 (Reuters) - Iron Bridge Resources Inc IBR.TO :

* VELVET ENERGY AND IRON BRIDGE RESOURCES ANNOUNCE SUCCESSFUL TENDER AND TAKE-UP OF 81.98% OF IRON BRIDGE COMMON SHARES

* IRON BRIDGE BOARD OF DIRECTORS AND OFFICERS TO RESIGN

* IRON BRIDGE RESOURCES - VELVET TO TAKE-UP AND PAY FOR 126.9 MILLION OUTSTANDING COMMON SHARES OF IRON BRIDGE AND EXTEND OFFER TEN DAYS TO OCTOBER 5, 2018

* VELVET TO APPOINT NEW BOARD OF DIRECTORS AND OFFICERS

* IRON BRIDGE-VELVET WILL HAVE CONTROLLING INTEREST IN IRON BRIDGE AND INTENDS TO IMMEDIATELY PROCEED WITH 2ND STAGE TRANSACTION TO ACQUIRE REMAINING SHARES

* IRON BRIDGE RESOURCES - IRON BRIDGE SHAREHOLDERS HAVE TENDERED TO VELVET'S AMENDED $0.845 PER SHARE ALL CASH OFFER

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