Irwin Energy Inc. Cancels Purchase of Big Cat Exploration & Production, Inc.
Thursday September 14, 2:02 pm ET
VANCOUVER, BC--(MARKET WIRE)--Sep 14, 2006 -- Irwin Energy Inc. (Other OTC:IWNE.PK - News) (the "Company") announced today that it has reached an agreement with the owners of Big Cat Exploration & Production, Inc. (Big Cat) to cancel the deal announced on March 14, 2006, wherein the Company had acquired Big Cat. In the cancellation agreement, both Big Cat and the Company agree that their interests have changed and that the cancellation would occur without cost to either party. Under the terms of the cancellation agreement, the Company will return 100,000 shares representing 100% of Big Cat and will receive from the owners of Big Cat 20,000,000 shares of the Company's common stock and the USD$30,600 the Company had paid to acquire a Letter of Intent to acquire the Murray Lake Project.
The return of the Company's common stock for cancellation will reduce the fully diluted, issued and outstanding shares of the Company to about 25,024,775 shares.
About Irwin Energy
Irwin Energy is a junior resource company based in Vancouver, B.C. Irwin Energy engages in the acquisition, exploration and development of resources properties with the intent to prove up oil and gas reserves and mineral deposits. Irwin Energy seeks out low-risk opportunities to develop positive cash flow from proven and probable resource properties where prior exploration has been successful. Irwin Energy plans to grow exclusively through the efficient reinvestment of its internally generated cash flow and through limited external financing, which it plans to utilize to build ancillary businesses.
Contact:
Contact Info:
Investor Relations
Pavel Doukhine
604 608 2733
Source: Irwin Energy
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