Ridgemont Iron Ore Corporation announced that, further to the press release by the company on May 30th 2012, it has closed the transaction to acquire certain mineral claims in Nunavut, forming part of the Maguse River Iron Project in accordance with the terms of a Purchase and Sale Agreement between Ridgemont and Mr Mark Raguz.

Pursuant to the terms of the Purchase Agreement, Ridgemont has acquired the Nunavut Claims from the Vendor in exchange for USD 30,000, payable in common shares of Ridgemont based on a price of USD 0.40 per Ridgemont share. As a result, 75,000 common shares of Ridgemont have been issued to the Vendor in connection with the Purchase Agreement.

Source - Ridgemont Iron Ore Corporation

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