Pinnacle Resources, Inc. (OTC:PNRR.PK) has announced that it has acquired Iron Eagle Group. Iron Eagle was founded to provide construction and contracting services by a coalition of senior managers. Shares issued to Iron Eagle will be held in escrow until the company acquires one or more companies with a combined EBITDA for 2009 of $1.8 million. The shares will be released back to Pinnacle if Iron Eagle fails to do fulfill its requirement within nine months.
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Pinnacle Resources, Inc. is a former international natural resources company that specialized in emerging mining and mineral development projects. Pinnacle became a publicly traded company on July 15, 1999 and is traded on the Pink Sheets under the symbol PNRR. The Company is also listed on the Frankfurt Exchange under the symbol PIN.
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