Irwin Energy Signs Share Exchange Agreement with Big Cat Exploration Inc. and Consolidation of Shares
Mar 17, 2006 8:13:00 PM
Copyright Business Wire 2006
VANCOUVER, Canada--(BUSINESS WIRE)--March 17, 2006--
Irwin Energy, Inc. (OTC.PK: IWNN) today announced that it has signed a Share Exchange Agreement with Big Cat Exploration & Production, Inc. Under the terms of the agreement, Irwin Energy will acquire 100% or 100,000 shares of Big Cat Exploration's outstanding Common Stock, in exchange for 20,000,000 Shares of Irwin Energy's common stock.
In addition, Irwin Energy is announcing that on March 3, 2006, a majority of its shareholders consented to a consolidation of its shares on the basis of one share for every 100 shares of the Company. The consolidation will be effective Friday, February 17, 2006. Post-consolidation, the Company will have approximately 20,500,000 shares issued and outstanding.
John Gaetz, President of Irwin Energy, Inc. stated, "We are pleased to announce the implementation of this Share Exchange Agreement because it represents an exciting stage of development for Irwin Energy."
About Big Cat Exploration & Production, Inc.
Big Cat Exploration & Production Inc. is a private company incorporated in Arizona that specializes in the exploration of oil and gas properties.
About Irwin Energy, Inc.
Irwin Energy, Inc., based in Vancouver, B.C. was founded for the purpose of engaging in the exploration for and acquisition, development and production of crude oil and natural gas, and for other related activities. In the oil and gas arena, Irwin Energy seeks out low-risk opportunities to develop positive cash flow from proven and probable oil and gas plays. Irwin Energy plans to grow exclusively through efficient reinvestment of its internally generated cash flow in exploration and production operations, and through limited external financing to build ancillary businesses.
Safe Harbour statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting the company's operations, markets, products and prices and other factors discussed in the company's various filings with the Securities and Exchange Commission.
Source: Irwin Energy, Inc.
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Irwin Energy
Inc.
Jason Ashdown
604-685-7552
AI
