POC Pacific Iron Ore Corporation

Pacific Iron Ore Corporation (TSX VENTURE:POC) ("POC" or the "Corporation") is
pleased to announce that it has engaged Blackmont Capital Inc. and Acumen
Capital Finance Partners Limited (collectively, the "Syndicate") to act as
agent, subject to completion of satisfactory due diligence on a commercially
reasonable efforts basis, in connection with the sale of up to 6,000,000 common
shares on a "flow through" basis at $0.50 per share and/or up to 6,666,667
common shares at $0.45 per share for aggregate gross proceeds to the Corporation
of up to $3,000,000. It is anticipated that approximately 70% of the offering
will be taken up by Insiders and other subscribers sourced by the Corporation
(the "President's List"). The Syndicate will be paid a corporate finance fee, a
commission of 8% on shares placed by the Syndicate (4% on the President's List)
and will be reimbursed for its expenses. The Syndicate will also receive
non-transferrable agent's options entitling the holder to acquire up to 5% of
that number of shares issued under the offering (but excluding the President's
List) exercisable at $0.45 per share for a period of 18 months following
closing. The offering is scheduled to close on or about October 31, 2009 and is
subject to normal approvals by the TSX Venture Exchange.


Proceeds of the offering will be used to fund the Corporation's ongoing
exploration efforts, for working capital and for general corporate purposes.


Forward Looking Statements:

This release includes certain statements that may be deemed "forward looking
statements". All statements in this release, other than statements of historical
facts that address future production, reserves potential, exploration drilling,
exploration activities and events or developments that the Corporation expects
are forward looking statements. Although the Corporation believes the
expectations expressed in such forward looking statements are based on
reasonable assumptions, investors are cautioned that such statements are not
guarantees of future performance and actual results or developments may differ
materially from those in the forward looking statements. Factors that could
cause results to differ materially from those in the forward looking statements
include, but are not limited to: market prices; exploitation and exploration
successes; continued availability of capital, financing and personnel;
government regulation and laws; the Corporations relationship with First
Nations; environmental developments; and general economic, market or business
conditions. For more information on Pacific Iron Ore Corporation, Investors
should review the Corporation's public filings which are available at
www.sedar.com.

Pacific Iron Ore (TSXV:POC)
Historical Stock Chart
From Jun 2024 to Jul 2024

Pacific Iron Ore (TSXV:POC)
Historical Stock Chart
From Jul 2023 to Jul 2024